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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.1New Hope Liuhe Co., Ltd.Semiannual Report 2023 2023-78[August 31,2023]Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.2Section 1 Important Note, Table of Contents and DefinitionsThe board of directors, board of supervisors, directors, supervisors andsenior executives of the company warrant that the contents of this semiannualreport are true, accurate and complete and free of any false recordings,misleading statements or significant omissions, and that they will be jointlyand severally liable for the legal consequences.The company’s board chairman Liu Chang, chief accountant ChenXingyao and the person in charge of accounting organization (accountant incharge) Su Xiaodan state that the financial report in this semiannual report istrue, accurate and complete.All directors of the company attended the board meeting deliberating thissemiannual report.The company is required to comply with disclosure requirements set forthin the Self-regulatory Guideline No.3 of Shenzhen Stock Exchange for ListedCompanies - Industry Information Disclosure with respect to “livestock, poultryand aquaculture related businesses”.I. Animal disease and natural disaster risksAnimal disease is the main risk faced in the development of livestockindustry. There are three kinds of risks arising out of the occurrence ofepidemic disease. First, the occurrence of epidemic disease is likely to result indeath of livestock, directly resulting in reduced yield, increased costs, andlower prices. Second, the occurrence and prevalence of animal disease on aFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.3large scale easily influence the consumer psychology, leading to a contractionin market demand, and also affecting the feed production and operation. Forexample, the first outbreak of African Swine Fever in China in middle 2018caused a huge shock to the whole industry. Although the industry initiallyexplored the prevention, control and treatment methods of comprehensive bio-safety prevention and control combined with precise elimination in 2019 and2020, ASF experienced a weakened mutation at the turn of winter and springbetween the end of 2020 and beginning of 2021, making it more spreadchannels, longer incubation time, and more difficult to detect and eliminate. Inrecent years, ASF has gradually become normal, especially in winter and earlyspring when the temperature is low, the impact is particularly serious in thenorth of China. Since 2022, avian influenza outbreaks have continued inEurope, North America and South America, which have had a major impacton poultry production and natural birds. Although the current round of avianinfluenza epidemic has not been large-scale outbreak in China, it still affectsthe introduction of grandparental breeding chickens in China.In terms of the natural disaster risk, the feed and slaughter are closely relatedto planting and livestock breeding industry. Therefore the natural disasters,such as temperature anomalies, drought, flood, earthquake, hail, and snowdisaster will adversely affect the industry operation and development. Naturaldisasters occurring in and around the company’s production facilites mayresult in substantial damages to production infrastructure or equipment.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.4Furthermore, natural disasters and extreme weather events can also drive upprices for certain feed ingredients and meat. For example, in 2022, severalprovinces in central and southwestern China experienced prolonged periods ofhigh temperatures and reduced rainfall, leading to the continuous developmentof drought conditions in some regions. This, in turn, triggered power shortagesin multiple southern provinces, affecting various aspects of the industry chain,including cultivation and livestock farming to varying degrees. In terms ofplanting, certain areas affected by drought experienced reduced yields offeedstock crops, thereby impacting feedstock prices, and the quality of the rawmaterials also declined. In terms of livestock farming, for example,aquaculture faced to oxygen deplention due to high temperature, whichaffected the feeding and growth of fish, shrimps and crabs, and led toproduction decrease. Additionally, due to the drought, water shortage andpower restriction, the use of breeding facilities and equipment was limited to acertain extent, causing losses to livestock enterprises and farmers, andaffecting the feed sales of the company.Risk countermeasures: in the face of animal disease, the livestock farmsplanned and constructed by the company’s breeding base are normalized andstandardized farms staffed with professional breeding technologists andequipped with strict anti-epidemic measures to effectively prevent and controlthe occurrence of epidemic diseases. The company has also summarizedexperience and measures responding to major animal diseases through yearsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.5of exploration and accumulation, which allow the company to eliminates theimpact of various animal diseases by adjusting the product mix whenappropriate, improving the product quality, conducting deep marketdevelopment actively and reducing the costs. Since 2014, the company has beenguiding technicians to better serve farmers and staffs of self-run farms byestablishing animal healthcare laboratories in various areas, creating thecloud-based animal healthcare system, and conducting the monitoring andwarning of animal diseases in real time. Regarding the ASF outbreak in 2018,the company formulated comprehensive and systematic set of prevention andcontrol measures. These measures encompass various aspects, including thecompany’s self-owned pig farms, cooperative fattening farms, pig feedproduction plants, internal animal healthcare laboratories, with a view toensuring proper prevention and control at the source of animal nutrition.Meanwhile, company actively participating in industry exchanges andexploring more effective containment methods with peers allowed thecompany’s bio-safety prevention system, pig survival rate and marketing rateto achieve industry-leading levels. From the late 2020 to early 2021, theoutbreak of a new round of attenuated ASF in many northern provincesbrought new challenges to the approach formed in the industry on the basis ofthe past prevention and control of ASF at the initial stage of the outbreak.However, the company continues to summarize its experience during theprevention and hazard control process, upgrading prevention and purificatiobFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.6methods, including dual antibody and dual screening in the whole groupserum, application of thermal imaging devices, and safe storage anddisinfection of materials. Additionally, it follows the principle of adding beforesubtracting in the prevention and control procrss, avoiding prolonged andoverly complex control measures that may lead to fatigue and complancency.This approact not only helps with effective preventation and control but alsofacilitates a quicker returen to normal production and reduce the cost ofbiosafety control. For the risk of avian influenza and other epidemics, thecompany has established systematic prevention and control measures. Thecompany’s poultry breeding business has always adhered to strict biosafetymeasures and provided cooperative farmers with “water quality testing”,material line washing and other free services, as well as standardizedproduction process guidance in biosafety prevention and control, to ensurelong-term stable operation of production and operation.In response to natural disasters, the company’s extensive domestic andinternational business presence ensure that specific regions experiencingnatural disasters do not have a significant impact on the overall operation ofthe company. Especially concerning the frequent occurrence of rainstorm andflooding in southern China the company has accumulated a large wealth ofexperience in recnet years. It has established mature emergrancy responseplans and maintains sufficient flood prevention supplies in stock year-round,which allow the company to flexibly guide farmers through production planFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.7adjustments when the flood season begins in preparation for disaster relieftogether. At the same time, the company can also take the advantage of itsnationwide presence to allocate funds, raw materials, equipment, and stafftimely and effectively to resume production as soon as possible and reduce thelosses caused by natural disasters. In response to natural disasters such asheavy rains and floods occurred frequently in southern China in recent yearsand the sudden drought in southwest China in 2022, the company has activelyestablished emergency plans, stored sufficient response materials in advance,and flexibly guided farmers to adjust their production plans, so as to achievedisaster mitigation and relief at the same time.II. Risk of price fluctuations of feed ingredientsThe cost of main feed ingredients for feed production accounts for morethan 90% of total cost of feed production. In the past, the proportion of feedbusiness in the company’s revenue was large, but as the feed industry generallyadopts the cost-plus pricing method, the fluctuations in prices of feedingredients can be partly transmitted to the downstream breeding operations,to relieve the pressure from the rising prices of feed ingredients. However, witha growing percentage of livestock breeding business in the company’s revenue,the rising prices of feed ingredients will have a growing impact on the company.Since 2020, due to various factors such as the macroeconomic situation athome and abroad, international trade relations, and crop yield in main grain-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.8producing areas of various countries, the prices of main feed ingredients suchas corn and soybean meal continuously rose. The outbreak of internationalgeopolitical conflict in early 2022 further pushed up global agriculturecommodity price. Moreover, considering the background of longtime existenceof ASF in China, the feed enterprises will reduce some high-risk feedingredients for the safety of animal nutrition, such as usage of corn, pig blood,and pig bone meal, so as to make the demand for raw materials concentrate onother types of raw materials, which will also lead to rise in prices of suchalternative raw materials. In the first half of 2023, the global price of main feedraw materials fluctuated continuously in the overall downward trend (asshown in the figure below), which also increased the difficulty of procurement.Risk countermeasures: the company is the largest feed enterprise in China,with scale advantages and a considerable bargaining power in the raw materialprocurement. Since 2020, the company applied hedging tools more to controlCorn and Soybean Meal Prices since 2021 (yuan/kg)——22 Provinces: Average price ofcorn——22 Provinces: Average price of soybean mealFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.9the ingredient price fluctuation risk. In 2021, the company further reinforcedcentralized management of raw material procurement across the industry andreduced feed use cost through processing in bonded zones and other methods.In 2022, the company actively purchased imported low-price ingredients andalternative ingredients such as wheat, sorghum and brown rice to continuallyoptimize ingredient costs. Now, the company has established strategicpartnerships with many domestic and overseas best-run raw material suppliers,while actively exploring domestic and foreign high-quality and safe local rawmaterials and opening up the raw material supply network at home andabroad, conducted the supply chain financing of various forms actively, andoptimized its purchasing cost and related financial expenses.III. Risk of price fluctuations of livestock and poultryThe finished products of livestock and poultry breeding business of thecompany mainly include breeding pig, piglet, hog, baby chick, baby duck,white feather broiler and white feather duck. In recent years, the pig farmingbusiness of the company has been growing rapidly, with 14.61 million hogs soldand more than 390 million self-raised and outsourced commercial chicken andducks in 2022, which allowed the livestock and poultry breeding to contributegreater to the entire revenue and profits of the company. Along with thefurther growth of breeding volume of the company in the future, the prices ofFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.10livestock and poultry will affect the levels of revenue and profits of thecompany even more remarkably.In the first half of 2023, the domestic livestock and poultry market washovering at the bottom. In terms of pig business, domestic pig prices havecontinued to fall since the beginning of the year and were below 15 yuan /kgfor most of the first half of the year (as shown in the figure below).In terms of poultry business, in the first quarter of 2023, due to themismatch between supply and demand caused by macro-policy adjustment, itexperienced a short-term price rebound. The price of raw white feather broilerand raw white feather duck recovered quickly from the trough to about 11yuan/kg at the highest. In the second quarter, the industry output gradually22 Provinces: Average price of pigPig Price since 2021 (yuan/kg)Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.11recovered, and affected by external macro factors, the price of chicken andduck began to fall to about 8.6 yuan/kg at the lowest. (As shown in the figurebelow)Risk countermeasures: the process of livestock and poultry prices goingdown itself is a process of the survival of the fittest in the industry. When someparticipants withdraw, the total supply declines and the prices rise again,survived businesses are likely to gain a greater market share and a higherreturn on investment than before. In recent years, the company has fullyentered the stage of robust operation in pig business, and is graduallyimproving its business operation efficiency, reducing farming costs andrestoring its original competitiveness by enhancing its internal managementcapabilities in many ways. On the other hand, unlike most of agricultural and——Average price of production area: white-feather chicken ——Weifang, Shsandong, average price: duckWhite-feather Chicken/Duck Price since 2021 (yuan/kg)Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.12livestock companies, the company has slaughtering and food processingbusiness at the downstream part of farming and feed business at the upstreampart of farming, which happens to hedge against the farming process. Theprice decline of livestock and poultry means that the cost of raw meat in theslaughtering and processing businesses falls too and its profit margin will beincreased; the declining prices of livestock and poultry also mean the farmingvolume of livestock and poultry is at high levels, which also helps increase theprofitability of feed business. Such an industry chain presence can moderatelymitigate the effects of declining prices of livestock and poultry on the company.IV. Impact of environmental protection policiesIn recent years, the government and society have increasingly attachedimportance to environmental protection, and relevant laws and regulationshave been continuously introduced. Since 2014, China has adopted theRegulations on Pollution Prevention and Control of Large-scale Livestock andPoultry Farming; in 2015, the new Environmental Protection Law came intoeffect; in 2016, the State Council issued the 13th Five-Year Plan for Ecologicaland Environmental Protection. Since 2018, the central environmentalprotection inspectors have conducted several “follow-up reexaminations”, asthe efforts to investigate pollution caused by livestock farms were strengthenedacross the country, ordering some breeding households to shut down forenvironmental remediation or close once for all due to their livestock farmingFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.13facilities failing to meet the environmental standards or dischargingwastewater beyond the set standards. In 2020, in the context of the sharpshortage of domestic hog supply caused by ASF, local governments havegradually relaxed the environmental protection requirements for farmconstruction to promote the resumption of hog production to ensure supply.However, after 2021, as the hog production capacity gradually recovered to thenormal range, the environmental protection policies related to breedingreturned to a more stringent situation. These pressures from theenvironmental protection policies will force some livestock and poultry farmsfailing to meet the environmental standards out of the market, and lead toreduced breeding quantities, which will have a certain impact on thecompany’s feed business growth and its acquisition of hogs and poultry forslaughtering business and will increase the cost of the company’s investment inthe construction of breeding capacity. In the long run, however, thewithdrawal of backward production capacity that does not meet theenvironmental standards will allow the qualified producers that remain in theindustry to acquire higher profitability, which is still of a positive significanceto the entire industry.Risk countermeasures: in light of the changes in livestock breedingmarket, on the one hand, the company makes every effort to maintainproduction capacity, and strengthens its cooperation with medium and large-sized farms and farmers that meet the environmental standards by changingFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.14its feed marketing model and utilizing its industrialized supporting andintegrated services. In the process of exploring a new breeding model, theprimary considerations in project design of the company are ecology,environmental protection, efficiency, and safety. By helping farmers remodeland build sheds and stalls that meet the higher environmental standards,increase the profitability of breeding business, and actively drive the domesticlivestock and poultry farming industry to grow healthily. On the other hand,the company actively grows its inventories by cultivating new livestock andpoultry farming bases in areas with environmental conditions throughconstruction, acquisition, joint venture, and cooperation using its existingbusiness portfolio across the country, thus ensuring the stability of its breedingresources.V. Risk of food safetyFood safety concerns the public’s health and life safety and it is even amatter of life and death for food enterprises. The implementation of therevised Food Safety Law in 2015 also means that China has brought its focuson food safety to an unprecedented level. The outbreak of ASF in 2018 raisedeven more demanding requirements for food safety control, and more costsneed to be invested in ASF prevention and control in the process of pigrecycling and slaughter, pork transportation and vendition. In 2019, the StateCouncil issued the Opinions on Deepening Reforms and Strengthening FoodFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.15Safety Efforts, which clearly porposed to use strictest standards, the strictestsupervision, the most severe punishment, and the most serious accountabilityto further strengthen food safety regulation and ensure the “safety on thedining table” of the public.Risk countermeasures: the company has always been highly concernedabout food safety by seriously ensuring food safety in every link of productionand operation. In 2015, the company established Safety and EnvironmentalProtection Department to ensure safety, health, and environmental protection.In 2022, the company further separated the Food Safety and QualityManagement Department from the Safety and Environmental ProtectionDepartment to focus more on food safety-related work. The company hasestablished its food safety management system and safety traceability systemfor the entire industrial chain from feed, breeding, farming to food. Carry outthe whole process of safety supervision from the front end of the supply chainto the terminal,, forming the three-level safety and quality management systemand the three-level safety and quality audit system including Food Safety andQuality Management Department of the headquarters, Food SafetyManagement Line of BUs and Safety and Quality Department of branchcompanies and subsidiaries.The company has improved its level of food safety related work byparticipating in international cooperation and passing the relevant industryFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.16standards certification. In 2016, the company passed the food technicalstandard certification issued by the British Retail Council (BRC) and waselected the Vice President of the China Council of the Global Food SafetyInitiative (GFSI), becoming the first Chinese private enterprise to be selectedas a member of the global board of directors of GFSI. At present, all foodbusinesses of the company have passed China-HACCP certification, and morethan 60 food companies are completing the BRC and Global-GAPcertifications in succession. In addition, the company systematically exploresthe antibiotic-reducing and antibiotic-free possibilities in cooperation withmultiple parties using the GFSI platform resources, and actively drives thepopularization of antibiotic-reducing and antibiotic-free successful cases. Inrecent years, the company’s achievements in the field of food safety and qualitymanagement have been fully recognized by the industry. It has been awardedthe title of “2021-2022 Food Safety Integrity Unit” by China Food SafetyConference, “2022 Annual Quality Golden Shield Case” by China QualityPress, “Model Unit in China Meat Food Safety Integrity System Construction”by China Meat Association, and “2022 Food Safety Science and TechnologyInnovation Award” by China Animal Health and Food Safety Alliance.VI. Risk of exchange rate fluctuationsCurrently, the globalization of raw material procurement for feedproduction is improved sharply, and the feed enterprises have beenFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.17increasingly affected by the exchange rate in terms of feed ingredientspurchasing centered on foreign supply such as corn, soybean, whey powder,fish meal and DDGS. At the same time, as the company expands its presenceabroad, in the foreign investment and overseas operations, the cross-bordercapital transaction and settlement amounts involved are growing, thus makingthe company more vulnerable to exchange rate fluctuations. In recent years,due to the impact of factors such as geopolitics and foreign exchange policyadjustments, the currencies of some host countries where the companyoperates experienced extraordinary fluctuations, and the exchange rate ofthese currencies against the US dollar has dropped sharply, combined with thetrend of US dollar interest rate increase, which poses a great challenge toforeign exchange management and operational difficulties of the company.Risk countermeasures: in response to the growing needs for overseas rawmaterial procurement and investment and operation, the company has beenbuilding Singaporean branch into an overseas commercial and trading centerand investment and financing center, actively conducted internationalcentralized procurement of raw materials, foreign direct financing, supplychain finance, foreign exchange risk management, funds management and rawmaterials purchasing risk management to reduce the impact of exchange ratefluctuations on its cash flow in overseas operations. In the context of theincreasing uncertainty in the macro environment and sharp exchange ratefluctuations in recent years, the company has reinforced efforts to improve theFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.18ability of exchange rate forecasting and fund management, continued to payattention to the dynamics of the Federal Reserve’s interest rate hike, andguaranteed the value of funds through hedging and other means and tools.Meanwhile, the company further strengthened its close connection andcommunication with overseas financial institutions, overseas agencies of theChinese government and host governments to analyze the trends of localcurrency exchange rates in host countries from time to time, make financialarrangements and ease the adverse impact of exchange rate fluctuations bymeans of direct investment in local currency abroad, etc.The company plans not to distribute cash dividends or allot bonus sharesor transfer its provident fund to share capital.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.19Table of ContentsSection 1 Important Note, Table of Contents and Definitions .......................................................2Section 2 Company Profile and Key Financial Indicators ...........................................................22Section 3 Management Discussion and Analysis ...........................................................................25Section 4 Corporate Governance ....................................................................................................60Section 5 Environmental and Social Responsibilities ...................................................................64Section 6 Important Matters .........................................................................................................171Section 7 Changes in Shares and Information about Shareholders ..........................................220Section 8 Details Related to Preferred Shares .............................................................................227Section 9 Details Related to Bonds ...............................................................................................228Section 10 Financial Report ..........................................................................................................233Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.20List of Reference Documents(I) Financial statements bearing the signatures and seals of the CEO, person in charge of accounting and the person in charge ofaccounting organization (chief accountant) of the company.(II) Originals of all corporate documents and manuscripts of announcements publicly disclosed on China Securities Journal,Securities Times, Shanghai Securities News, Securities Daily and cninfo.com during the reporting period.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.21DefinitionsTerm Refers to DefinitionThe company, company, listed company, NewHopeRefers to New Hope Liuhe Co., Ltd.CSRCRefers to China Securities Regulatory CommissionSZSERefers to Shenzhen Stock ExchangeCSDCRefers to China Securities Depository and Clearing Co., Ltd.Company Law Refers to Company Law of the People’s Republic of ChinaNew Hope Group Refers to New Hope Group Co., Ltd.South Hope Refers to South Hope Industrial Co., Ltd.China Minsheng Bank Refers to China Minsheng BankNew Hope Chemical Refers to New Hope Chemical Investment Co., Ltd.Finance company Refers to New Hope Finance Co., Ltd.Liuhe Group Refers to Shandong New Hope Liuhe Group Co., Ltd.Restricted Stock and Stock Option Incentive Plan2019Refers to Incentive Plan 2019Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.22Section 2 Company Profile and Key Financial IndicatorsI. Company InformationStock abbreviation New Hope Stock code 000876Stock exchange on whichstock is listedShenzhen Stock ExchangeChinese name of the company New Hope Liuhe Co., Ltd.Chinese abbreviation of thecompany (if any)新希望English name of the company(if any)NEWHOPELIUHECO., LTD.English abbreviation of thecompany (if any)NEWHOPELegal representative of thecompanyLiu ChangII. Contact persons and contact detailsBoard secretary Securities affairs representativeName Lan Jia Bai XuboContract address11F, Block T3A, Wangjing SOHOCenter, No.10, Wangjing Street,Chaoyang District, Beijing11F, Block T3A, Wangjing SOHOCenter, No.10,Wangjing Street, Chaoyang District, BeijingTel. (010) 53299899-7666 (010) 53299899-7666 (028) 85950011Fax (010) 53299898 (010) 53299898Email 000876@newhope.cn baixb@newhope.cnIII. Other details1. Contact information of the companyWhether the company’s registered address, office address, post code, website and email address have been changed during thereporting period□applicablenot applicableThere is no change in the company’s registered address, office address, post code, website or email address during the reportingperiod, refer to 2022 annual report for details.2. Information disclosure and filing placeWhether the information disclosure and filing place have been changed during the reporting period□applicablenot applicableThere is no change in the name and website of the stock exchange and media where the company’s semiannual report is disclosed,or the filing place of the company’s semiannual report during the reporting period, refer to 2022 annual report for details.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.233. Other relevant informationWhether other relevant information have been changed during the reporting period□applicablenot applicableIV. Key accounting data and financial indicatorsWhether the company needs to retroactively adjust or restate the accounting data of previous years□yesnoThis reporting periodThe same period of theprevious yearIncrease or decrease in thisreporting period from thesame period of the previousyearBusiness revenue (yuan) 69,452,880,446.1462,329,531,076.6411.43%Net profits attributable toshareholders of the listed company(yuan)-2,982,653,024.87 -4,139,743,764.0027.95%Net profits attributable toshareholders of the listed companyafter deduction of non-recurringprofit or loss (yuan)-2,991,907,613.69 -3,679,945,484.6218.70%Net cash flows from operatingactivities (yuan)1,982,054,648.14 -1,133,527,154.46274.86%Basic earnings per share(yuan/share)-0.67 -0.9327.96%Diluted earnings per share(yuan/share)-0.67 -0.9327.96%Weighted average ROE -11.56% -15.37%An increase of 3.81 percentpointsEnd of this reportingperiodEnd of the previous yearIncrease or decrease at theend of this reporting periodfrom the end of the previousyearTotal assets (yuan) 135,130,799,934.87136,678,788,974.93 -1.13%Net assets attributable toshareholders of the listed company(yuan)25,292,225,827.7429,243,764,658.37 -13.51%V. Differences in accounting data under domestic and overseas accounting standards1. Differences between the net profit and net assets disclosed in accordance with international accountingstandards and Chinese accounting standards in the financial report□applicablenot applicableThe company had no difference in net profits and net assets in financial reports disclosed under either international accountingstandards and Chinese accounting standards during the reporting period.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.242. Difference in net profits and net assets in financial reports disclosed under both overseas accountingstandards and Chinese accounting standards□applicablenot applicableThe company had no difference in net profits and net assets in financial reports disclosed under either overseas accountingstandards and Chinese accounting standards during the reporting period.VI. Items and amounts of non-recurring profit or lossapplicable □not applicableUnit: yuanItem AmountProfit or loss from disposal of non-current assets (including the charged-off portion of the accrued provision for asset impairment)-149,861,921.05Government subsidies included in current profit or loss (excludinggovernment subsidies which are closely related to the businessoperations of the company and consistently granted according to certainstandard quota or ration in compliance with national policies)132,933,084.35Profit or loss from change in fair value of trading financial assets andtrading financial liabilities held, and investment income from disposal ofheld-for-trading financial assets, held-for-trading financial liabilities andavailable-for-sale financial assets, except for effective hedgingtransactions related to normal business operations of the company-10,251,616.44Reversal of impairment provision for receivables subject to separateimpairment test17,488,973.85Other profit or loss items that conform to the definition of non-recurringprofit or loss-11,413,392.26Minus: effect of income tax 7,982,936.28Effect of minority interests (after tax) -38,342,396.65Total 9,254,588.82Details of other profit or loss items that conform to the definition of non-recurring profit or loss:□applicablenot applicableThe company has no other profit or loss items that conform to the definition of non-recurring profit or loss.Description of non-recurring profit or loss items enumerated in the Explanatory Announcement No.1 on Information Disclosurefor Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit or loss items□applicablenot applicableThe company has no non-recurring profit or loss items enumerated in the Explanatory Announcement No.1 on InformationDisclosure for Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit orloss items.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.25Section 3 Management Discussion and AnalysisIII. Analysis of Main BusinessesOverviewThe challenges facing the domestic agriculture and animal husbandry industry in 2023 are still huge. On the one hand, afterthe adjustment of macroeconomic policies at the beginning of the year, market consumption began to recover, but the overall trendof the macro economy is still under pressure, and the recovery of consumption falls short of expectations to a certain extent. Onthe other hand, the supply ascpect, in the second half of last year the short-term higher-than-expected pig and poultry pricesobjectively slowed the pace of capacity reduction. Meanwhile, the feed raw material prices in the first half of the year declined, sothat this year’s feed industry is relatively promising, but pig prices began to fall from the beginning of the year and remained lowin the first half of the year, which also indirectly led to the poultry industry market in the first half of the first rose and then fell. Inthe face of these challenges, the company sticked to its strategy, steadily promoted the transformation of operation management,consolidated the management foundation, continuously improved efficiency and cost reduction, and improved profitability; whileensures production and operation, also actively carries out strategic cooperation, revitalizes existing assets, raises financingflexibly through multiple channels, manages and controlled funds, and continuously optimized the organizational system. With thejoint efforts of all parties, the scale of business operations in the first half of 2023 continued to grow, while also achievingsignificant year-on-year loss reduction. During the reporting period, the company reported business revenue of 69.453 billion yuan,an increase of 7.123 billion yuan or 11% year-on-year; and net profit attributable to shareholders of the listed company of -2.983billion yuan, a year-on-year loss reduction of 1.157 billion yuan or margin of loss reduction of 27.95%.(I) Feed businessThe feed business is one of the core pillars of the company. In the first half of 2023, pig production capacity slowly declinedfrom a high level, but meat and poultry production capacity increased to a high level, making the overall amount of feed at a highlevel, with feed consumption also higher than the same period last year. At the same time, the raw material market was mainlydown, which helped to improve the profit of feed. The company’s feed business also achieved increase in both sales and profit.1. Customer service and key customer development: since the launch of the “breeding support” mode for pig farmers last year,the company continued to upgrade the mode iteratively in the first half of this year to provide comprehensive solutions. Inresponse to the market background of low pig prices again during the year, the company carried out the promotion of “extrememeat cost” package to help farmers control the cost of fattening pigs; actively linked with the company’s pig business, and helpedlarge-scale farm customers to carry out breeding technology training; and explored the combination with pig insurance scheme toreduce the risk of customer losses. In terms of key customer development, the company further improved the key customerresource map, established or upgraded cooperative relations with a number of well-known agricultural and animal husbandryenterprises, strengthened resource sharing, channel sharing and cooperation in the upstream and downstream industry chain, andachieved a 37% year-on-year increase in domestic feed key customer sales. In terms of customer value management and full lifeFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.26cycle management, the cultivation map is built to form cross-field collaboration for “supply, research, production, service andmarketing” of feed industry chain.2. Product research and development: the company continued to optimize the NHFHongtong feed formula system withindependent intellectual property rights, which was fully launched last year, and optimized the formula cost through three aspectsof technology research and development, technical operation and digital nutrition, optimizing the domestic feed formula cost by 18yuan/ton in the first half of the year. In addition, the product system was sorted out at the company level, focusing on the painpoints of each kind of product and continuing to promote basic research projects for the R&D and iteration of 20 hit products suchas suckling pig feed, high-grade duck feed, shrimp and crab feed, and calf feed to improve the terminal performance and promotesales growth.3. Raw material procurement: the company continued to strengthen the centralized procurement of bulk raw materialsthrough the supply chain system and signed strategic cooperation agreements with a number of large suppliers, reporting asustained average centralized procurement rate of the headquarters above 75% in the first half of the year, an increase of 8 percentpoints over the previous year, which was increased to more than 80% in the second quarter. However, in terms of local rawmaterials, the company also fully encourages front-line business units to carry out survey on nearby raw materials to form a mapof value raw materials, and actively purchase and make full use of nearby raw materials. In addition, in the first half of the year,the company also built a five-day position management system at the district level, timely sorting out and analyzing theprocurement, inventory, in-transit and good use of each district, and maintained internal and external benchmarking and districtranking, to help improve the backward area. The company also set up a special team to strengthen the quality management of rawmaterial procurement, assign special port personnel to monitor imported raw materials, develop special storage plans, strengthensupplier inspection and quality commitment management, as well as the withdrawal of unqualified suppliers, to achieve the sourcecontrol of quality management and forward quality control.4. Lean manufacturing: in recent years, the company has gradually developed and exported 12 systems and 138 standardscovering lean production, quality management, safety production, etc., in the field of lean manufacturing, and the focus of workhas gradually shifted to the implementation link. In the first half of the year, the company organized relevant departments in themiddle office of the feed business to go deep into the front line, carried out joint inspection, systematically sorted out problemssuch as improving efficiency and reducing costs, stabilizing quality, and reducing losses, formed improvement lists, organizedmonthly “review” meetings, and timely reviewed the standard implementation and cost improvement and other situations. In thefirst half of the year, the average production cost per ton in the domestic feed business decreased by 4% year-on-year.During the reporting period, the company sold 14.10 million tons of various feed products,0.67 million tons more or 5% upyear-on-year; 10.28 million tons of feeds were sold externally,3% up year-on-year. Among them,5.62 million tons of pig feedwere sold,16% up year-on-year, and external sales of pig feed amounted to 2.98 million tons,13% up year-on-year; 7.43 milliontons of poultry feed were sold,2% down year-on-year, and external sales of poultry feed amounted to 6.29 million tons, flat year-on-year; 0.72 million tons of aquatic feed were sold,3% down year-on-year; and the company reported business revenue of 39.152billion yuan,3.114 billion yuan more or 9% up year-on-year.(II) White feather poultry businessFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.27The white feather poultry business is an important cornerstone of the company’s business growth and an important part of thecompany’s extension towards the downstream food business. In the first half of 2023, due to the mismatch between supply anddemand caused by macro-policy adjustment, the domestic white feather poultry market prices fluctuated wildly after rising andthen falling. The company continued to adhere to lean production internally, continuously improve the production efficiency of alllinks, and strengthen cost control and capacity adjustment; externally, relying on key customer channels and advantageous items,the company increased investment in e-commerce, fresh sales and fresh distribution and other fields, strengthening marketexpansion, and achieving a turnaround in the first half of the year.1. Breeding efficiency: the company continued to strengthen the management of breeding links, improve the breedingcapacity and bio-safety level. In the first half of the year, the European index of white feather broilers self-rearing increased by20%, the average cost decreased by 0.37 yuan per chicken, the survival rate increased by 5 percent points, and the feed/meat ratiodecreased by 0.07; the European index of white feather duck self-rearing increased by 8%, the average cost decreased by 0.26yuan per duck, and the feed/meat ratio decreased by 0.07.2. Key customer maintenance: the company put efforts in intensive maintenance of the key customer base formed in the earlystage, on the one hand, to strengthen the promotion of more diverse products to the same type of customers, for instance, furtherintroduction of duck blood products to key hot pot customers attracted by duck intestines products; on the other hand, to developdifferentiated products for the sales of the same category products to different types of customers, take duck intestines categoryproducts for instance, emphasis on sales of prepared duck intestines to key hot pot customers, and molded duck intestines to keymarinated chain retail customers.3. By-product sales: in the first half of 2023, the sales of duck intestine products reached 175 million yuan, an increase of13% year-on-year; introduction of duck blood products to key hot pot customers grew rapidly, with sales reaching 47 tons in thefirst half of the year, an increase of nearly 8 times compared with the annual sales in 2022, and exported to Hong Kong and Macaoand foreign markets such as Japan, South Korea and Malaysia.During the reporting period, the company sold a total of 277.76 million baby chickens and baby ducks,0.64 million less year-on-year, basically the same as the same period of the previous year; 180.09 million commercial chickens and ducks were sold,15.75 million less or 8% down year-on-year; 302.97 million chickens and ducks were slaughtered,19.73 million less or 9% downyear-on-year; 0.7950 million tons of chicken and duck meats were sold,6,900 tons less or 1% down year-on-year; and thecompany reported business revenue of 9.654 billion yuan,1.364 billion yuan more or 16% up year-on-year.(III) Pig farming businessPig farming business is the core business that has the greatest impact to the company. In the first half of 2023, pig pricescontinued to be under pressure, pig supply continued to be high, and consumption recovery was lower than expected, resulting inpig prices at a level lower than the average cost line of the industry, so that the whole industry was under greater loss pressure.Despite the continued downturn in the market, the company’s pig business reported effective improvement in breeding costthrough continuous strengthening of internal management and improving of production indicators. In the first half of the year, withsignificant increase in pig outputs, a substantial reduction in losses was achieved.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.281. Production management: in the first half of 2023, along with the normal prevention and control and disposal of ASF, thecompany continued to strengthen the production management of each link, continued to optimize and improve the production andoperation process of each link, and strengthened the training and enabling of front-line units, and repeatedly organized the front-line unit comprehensive inspection led by company executives and participated in by multiple middle office departments to findand solve problems on the spot. The company focuses on the management of reserve pigs and the improvement of the quality ofweaned piglets in the breeding link, focuses on the construction of in-house fattening system and the full load of in-house fatteningfarms in the fattening link, and strengthens the linkage with the feed business to seize the opportunity of the declining price of feedraw materials to optimize the feed formula in time. Although the ASF in the north in the first quarter brought a certain disturbanceto the production performance, after entering the second quarter, all aspects of the production indicators rushed back to the righttrack and continued to optimize and achieved varying degrees of improvement or promotion compared with the fourth quarter oflast year. At the end of the first half of the year, the non-productive days of sows fell to 32 days,3 days shorter than the fourthquarter of last year; the average weaned piglet per litter increased to 10.8, an increase of 0.4 from the fourth quarter of last year;more than 23 PSY; weaning cost dropped to 370 yuan/pig, down 30 yuan/pig from the fourth quarter of last year; the survival rateof fattening pigs was close to 90%; the ratio of feed to meat decreased to 2.74, down 0.13 from the fourth quarter of last year.2. Digital construction: the company is firmly advancing on the road of digital and intelligent pig breeding, taking pilot pigfarms as experimental stations and test grounds for key equipment intelligence and business scenario data, while focusing on thepracticability and reproducibility of the result output, and realizing the iteration of standards and the exploration of practicalimplementation. In the first half of 2023, the company set up 28 research topics in eight aspects, including breeding pigs, biosafety,nutrition, veterinary medicine, materials, environmental protection, plant equipment management, and personnel management, tosolve front-line drawback and increase effective use, and promoted them in an orderly manner. Following the completion of thepromotion and coverage of the planning operation management system in the parental generation farm line last year, the companyalso gradually promoted the launch of planning operation management system of the fattening link in the first half of this year; atthe same time, the module functions of piglet transfer, fattening pig weight management, material tower management, materialmanagement and sales plan management have been newly developed or upgraded. In the field of free-range management, thecompany took contract management and settlement management as the starting point to upgrade the farmer management system.In the field of health management, the company’s newly developed immune management system began to be promotedsimultaneously in breeding pigs and in-house fattening systems. In the field of breeding management, the company completed thedevelopment of new variety breeding system and the upgrade of backup introduction system.3. Organization optimization: to further strengthen the overall management of pig business, streamline the managementprocess and improve operational efficiency, the company established a pig business group in the second quarter on the basis of theoriginal pig business headquarters, responsible for the daily operation and management of the company’s pig business, and made aseries of optimization and adjustments to the management system of each vertical team under its control. The company has set upspecial prevention and control teams for blue ear disease and epidemic diarrhea respectively at the level of business groupheadquarters and vertical teams, and in the disease control veterinary line, established a new risk control line to strengthen thesystem prevention and supervision and inspection of business process risks, and strengthened the vertical management of live pigsales lines to realize the optimization and overall planning of national sales. At the vertical team level, the company upgraded theFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.29free range management line of each vertical team into a free range management service company to strengthen the overallarrangement of piglet supply and farmers' resources at the vertical team level; the company also established a separate planting andenvironmental protection department to improve the self-sufficiency rate of vegetables in pig farms and reduce the frequency ofvegetables purchased and the associated risk of epidemic prevention. At the operating region level, to strengthen the in-housefattening capacity building, the company required the general manager of the operating region to be the person in charge of the in-house fattening line and allocated full-time vet in the in-house fattening farm. In addition, the company also selected a group ofoutstanding cadres from the central south vertical teams with stable and leading production performance and good team foundationin the past two years to enrich the business group headquarters and the north China vertical team and northeast vertical team,which were relatively more affected by ASF, to duplicate and promote excellent work experience, and help improve the ability ofASF prevention and control and production management.During the reporting period, the company sold a total of 0.9085 million breeding pigs and piglets and 8.0882 million hogs,totaling 8.9940 million,31.33% up year-on-year; the company reported business revenue of 10.632 billion yuan (slightly less thanthe accumulated sales revenue indicated in the monthly hog sales briefings due to deduction in sales in connection with sales tointernal slaughterhouses),2.868 billion yuan more or 37% up year-on-year.(IV) Food businessFood business is the direction of the company’s medium- and long-term focus of development. In the first half of 2023,terminal consumption (especially in the catering industry) recovered, while pig prices remained low for most of the time, whichhad a positive impact on the food deep processing business. The company’s food business seized the opportunity to makecontinuous efforts in products, regions, channels, and other aspects, and continued to maintain the common growth of sales,revenue and profit.1. Star items: for crispy pork series, the biggest star item in recent years, on the one hand, the company promoted deepdistribution and channel sinking in the regional market, and its sales in many provinces in east, central, northwest and north Chinareached a new high; on the other hand, the company maintained the competitiveness of raw material prices through the “linkage ofthe raw and the cooked” in the production and manufacturing system, and reduced processing costs while improving the yield andproduct quality through the automatic upgrade of processing equipment; thereby, the sales of crispy pork series in the first half ofthe year reached 640 million yuan, an increase of nearly 20%. For pig intestines series newly developed by the company in the lastyear, the sales in the first half of the year reached nearly 140 million yuan, exceeding the annual sales of last year. In addition,subsequent echelon products, such as beef slices, meat balls, grilled sausages, prepared chicken wings, snack sausages, and pig by-products, achieved varying degrees of year-on-year sales growth.2. In-depth development of channels: with the hot sale of star items such as crispy pork, the company’s channel layout andcustomer system in China are gradually improved. In the first half of 2023, the coverage of food business channel network toprefecture-level cities has been close to 90%. On the one hand, the company continued to strengthen its penetration in thesubdivision track by relying on its advantageous items. For example, it extended the catering consumption scene of crispy porkfrom hot pot restaurants to noodle restaurants, pickled fish, grilled fish, pubs, etc., and strengthened the C-side purchase scenesuch as supermarkets and community retail stores. On the other hand, the company strengthened the reuse of the developedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.30channels by subsequent echelon products, for example, customers of beef slices cover 60% of existing customers of crispy meat,and hot pot customers are 100% covered; the pig intestine series also realizes a large number of reuse in hot pot, Chinese food,snacks and other channels. In addition, the company also launched the “876 customer program” for food business in the first halfof the year, selecting out more than 300 high-quality customers at three levels, developing support plans for customers, furtherstrengthening customer service, improving customer experience, helping customers to develop, and achieving win-win resultsbetween customers and the company.3. Slaughtering and segmentation: due to the long-term downturn in pork market consumption in the past two years, the grossprofit of raw pork continued to decline, the company began to strengthen the segmentation strategy from the end of last year andearly this year to improve the profitability level. In the production side, the amount of segmentation was gradually increased by28% year-on-year; on this basis, according to the different needs of catering and supermarket channels, further small piecesprocessing or customized packaging services were provided on the basis of finely divided products. At the market side, for themain consumption scenarios of finely segmented products, the emphasis was put on increasing the customization cooperation withdirect supermarket channels such as Sam’s Club and Freshippo, as well as key catering customers.During the reporting period, the company slaughtered 2.09 million hogs,0.39 million more or 23% up year-on-year, sold257,700 tons of pork products,39,700 tons more or 18% up year-on-year, sold 136,700 tons of various processed meat productsand prepared dishes,6,900 tons more or 5% up year-on-year, and reported business revenue of 5.807 billion,0.891 billion yuanmore or 18% up year-on-year.YoY changes of key financial dataUnit: yuanThis reporting periodThe same period of theprevious yearYoY increase ordecreaseCause of changeBusiness revenue 69,452,880,446.1462,329,531,076.6411.43%Operating costs 68,196,429,382.4962,063,554,174.379.88%Selling expenses 927,000,996.81877,736,004.725.61%General andadministrativeexpenses2,476,707,410.512,431,811,072.081.85%Financial expenses 1,029,507,937.07760,981,877.2435.29%Mainly due to the increase incorporate borrowings and theincrease in financial expensesIncome tax expense 161,590,170.27140,757,923.1214.80%R&D input 138,905,850.64151,257,614.79 -8.17%Net cash flows fromoperating activities1,982,054,648.14 -1,133,527,154.46274.86%Mainly due to the decrease inthe company’s prepayment forraw materials and the increase inthe method of bill settlement,which led to the increase of netcash flows from operatingactivities;Net cash flows frominvesting activities-1,200,623,370.68 -4,266,170,951.6971.86%Mainly due to YoY decrease ofthe company’s input of fixedassets in the pig business.Net cash flows from -1,365,191,333.801,848,149,801.11 -173.87% Mainly due to YoY decrease inFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.31financing activities the net increase of borrowingsobtained by the company.Net increase in cashand cash equivalents-611,504,392.75 -3,600,471,868.1083.02%Mainly due to the reduction ofthe company’s long-terminvestment in the pig business.Gains from variationin fair value-60,100,451.27 -1,254,312.12 -4,691.51%Mainly due to changes in fairvalue of financial products ofthe company.Asset impairmentloss-884,764,393.43 -1,328,087,107.4133.38%Mainly due to decrease inprovision for impairment loss ofconsumptive biological assets.Income from assetdisposal98,943,162.118,121,268.041,118.32%Mainly affected by the incomefrom disposal of productivebiological assets of thecompany.Non-businessexpenditure323,748,335.88759,373,021.68 -57.37%Mainly due to decrease indestruction, scrapping andinterim loss of productivebiological assets of thecompany.Material changes in composition or source of profits of the company in the reporting period□applicablenot applicableThere were no material changes in composition or source of profits of the company during the reporting period.Composition of business revenueUnit: yuanThis reporting period The same period of the previous yearYoYincrease ordecreaseAmountProportion inbusiness revenueAmountProportioninbusinessrevenueTotal operatingrevenue69,452,880,446.14100% 62,329,531,076.64100% 11.43%By industryFeeds 39,151,609,640.3456.37% 36,037,156,488.7157.82% 8.64%Pig business 10,632,213,329.0515.31% 7,764,687,577.9112.46% 36.93%Poultry business 9,653,511,379.7613.90% 8,289,654,758.7813.30% 16.45%Food 5,807,303,836.738.36% 4,913,494,290.927.88% 18.19%Commerce and trade 3,798,296,892.865.47% 4,951,456,818.637.94% -23.29%Others 409,945,367.400.59% 373,081,141.690.60% 9.88%By productFeeds 39,151,609,640.3456.37% 36,037,156,488.7157.82% 8.64%Pig business 10,632,213,329.0515.31% 7,764,687,577.9112.46% 36.93%Poultry business 9,653,511,379.7613.90% 8,289,654,758.7813.30% 16.45%Food 5,807,303,836.738.36% 4,913,494,290.927.88% 18.19%Commerce and trade 3,798,296,892.865.47% 4,951,456,818.637.94% -23.29%Others 409,945,367.400.59% 373,081,141.690.60% 9.88%By regionOverseas 9,495,949,647.1113.67% 7,803,392,389.0212.52% 21.69%Domestic 59,956,930,799.0386.33% 54,526,138,687.6287.48% 9.96%Industries, products or regions that account for more than 10% of the company’s business revenue or operating profitsapplicable □not applicableUnit: yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.32Business revenue Operating costsGrossmarginIncrease ordecrease inbusinessrevenue fromthe same periodof the previousyearIncrease ordecrease inoperating costfrom the sameperiod of theprevious yearIncrease ordecrease inoperating costfrom the sameperiod of theprevious yearBy industryFeeds 39,151,609,640.3437,185,725,284.705.02% 8.64% 8.92% -0.24%Pig business 10,632,213,329.0511,859,740,622.89 -11.55% 36.93% 19.26% 16.53%Poultry business 9,653,511,379.769,210,199,943.004.59% 16.45% 14.26% 1.83%Food 5,807,303,836.735,951,088,552.07 -2.48% 18.19% 23.76% -4.62%By productFeeds 39,151,609,640.3437,185,725,284.705.02% 8.64% 8.92% -0.24%Pig business 10,632,213,329.0511,859,740,622.89 -11.55% 36.93% 19.26% 16.53%Poultry business 9,653,511,379.769,210,199,943.004.59% 16.45% 14.26% 1.83%Food 5,807,303,836.735,951,088,552.07 -2.48% 18.19% 23.76% -4.62%By regionOverseas 9,495,949,647.118,785,247,512.307.48% 21.69% 22.46% -0.59%Domestic 59,956,930,799.0359,411,181,870.210.91% 9.96% 8.24% 1.58%Data about main business of the company after the most recent adjustment according to the statistical caliber at the end ofreporting period if the statistical caliber of main business data of the company was adjusted during the reporting period□applicablenot applicableIV. Analysis of non-core businessapplicable □not applicableUnit: yuanAmountProportion in totalprofitsRemarks on reason forformationWhether sustainableor notInvestment income 1,066,870,403.12 -31.10%Mainly consisting ofinvestment income from theequity of China MinshengBank held by the companyand recognized using theequity methodYesGain or loss fromchange in fair value-60,100,451.271.75%Asset impairment -916,744,972.3926.72%Non-business revenue 62,923,600.47 -1.83%Non-businessexpenditure323,748,335.88 -9.44%V. Analysis of assets and liabilities1. Significant changes in asset compositionUnit: yuanEnd of this reporting period End of the previous year ProportionFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.33increase ordecreaseAmountProportion in totalassetsAmountProportion in totalassetsMonetary capital 11,150,787,210.198.25% 11,512,430,182.358.42% -0.17%Accountsreceivable1,937,293,872.451.43% 1,285,865,849.450.94% 0.49%Contract assets 0.00% 0.00% 0.00%Inventories 16,789,490,600.6512.42% 17,901,083,522.5913.10% -0.68%Investmentproperties168,615,996.590.12% 173,146,710.260.13% -0.01%Long-term equityinvestments26,512,423,398.2619.62% 26,256,101,521.1119.21% 0.41%Fixed assets 36,694,212,664.2227.15% 35,683,327,341.7126.11% 1.04%Construction inprogress20,275,114,273.5915.00% 20,157,929,735.5114.75% 0.25%Right-of-useassets5,693,421,082.554.21% 6,095,819,071.514.46% -0.25%Short-termborrowings17,997,266,231.0413.32% 13,359,392,691.449.77% 3.55%Contractliabilities2,249,428,800.691.66% 2,173,108,069.791.59% 0.07%Long-termborrowings25,939,596,845.5419.20% 27,527,873,389.9520.14% -0.94%Lease liabilities 4,446,693,733.143.29% 4,719,055,556.373.45% -0.16%Productivebiological assets6,991,181,620.465.17% 7,576,647,898.075.54% -0.37%2. Major overseas assets□applicablenot applicable3. Assets and liabilities measured at fair valueapplicable □not applicableUnit: yuanItemBeginningamountCurrent gainor loss fromchange in fairvalueCumulative changein fairvaluerecordedin equityCurrentprovision forimpairmentCurrentpurchaseCurrent saleOtherchangesEndingamountFinancialassets1. Held-for-tradingfinancialassets(excludingderivativefinancial148,914,177.97 - 41,350,679.88 9,145,262.7 7 75,665,993.75 77,510,307.04Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.34assets)4.Investmentsin otherequityinstruments315,248,826.38 315,248,82 6.38Subtotal offinancialassets464,163,004.35 - 41,350,679.88 0.000.00 9,145,262.7 7 75,665,993.75 392,759,13 3.42Total of theabove464,163,004.35 - 41,350,679.88 0.000.00 9,145,262.7 7 75,665,993.75 392,759,13 3.42Financialliabilities6,103,030.7 7 - 18,749,771.39 18,749,771.39Other changesWhether the measurement attributes of major assets of the company changed significantly during the reporting period□yesno4. Restrictions on asset rights as of the end of the reporting periodItem Ending book value Cause of restrictionMonetary capital 948,272,428.70 Purchase of futures, margins of guarantee companies, note margins andreclamation margins, etc.Fixed assets 844,381,711.78 Used as collateral for long and short-term borrowings and for financialsale and leasebackIntangible assets 38,297,553.95 Used as collateral for long and short-term borrowingsLong-term equity investments 865,194,100.00 Used as pledge for long-term borrowingsTotal 2,696,145,794.43VI. Analysis of investments1. General conditionapplicable □not applicableInvestment during the reporting period(yuan)Investment during the same period of theprevious year (yuan)Rate of change26,941,133,862.1725,368,741,126.686.20%2. Significant equity investments acquired during the reporting period□applicablenot applicable3. Ongoing significant non-equity investments during the reporting period□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.354. Investments in financial assets(1) Investments in securities□applicablenot applicableThe company had no investments in securities during the reporting period.(2) Investments in derivativesapplicable □not applicable1) Derivatives investments for hedging purposes during the reporting periodapplicable □not applicableUnit: 10,000 yuanType of derivativesinvestmentInitialinvestmentamountCurrent gainor loss fromchange infair valueCumulativechange infair valuerecorded inequityPurchaseduring thereportingperiodSale duringthereportingperiodEndingamountPercentage ofendinginvestmentamount innet assets ofthe companyat the end ofreportingperiodFutures and optioncontracts86.46 -4,368.990673.74 -2,574.91247.60.00%Interest rate swap andforeign exchangeforwards9,272.3 -1,641.060240.795,141.55,628.450.15%Total 9,358.76 -6,010.050914.532,566.595,876.050.15%Remarks on theaccounting policies andspecific accountingprinciples of hedgingbusiness during thereporting period andwhether there aresignificant changescompared with theprevious reportingperiod.The accounting policies and accounting principles related to the company’s derivatives transactionshave been implemented in accordance with the relevant provisions of the Accounting Standards forBusiness Enterprises - Recognition and Measurement of Financial Instruments and the AccountingStandards for Business Enterprises - Hedging issued by the Ministry of Finance of the People’sRepublic of China, without any changes. No changeRemarks on actualprofit or loss during thereporting periodDuring the reporting period, the company reported profit/loss on futures and options contracts of -30.875 million yuan, and profit/loss on interest rate swaps and foreign exchange forwards of 12.5684million yuan.Remarks on thehedging effectThrough derivative investment business, the company effectively reduced the risk of foreign exchangefluctuations and achieved the business management results with operation objectives as the center andpreservation as the purpose. By using the live pig futures hedging plan to sell live pigs, the companyprevented the cost and profit of live pig sales from the risk of falling market price, and improved theperformance of spot live pig sales.Source of funding forderivatives investmentSelf-raisedRemarks on risk Remarks on risk analysis and control measures of derivatives positions during the reporting periodFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.36analysis and controlmeasures of derivativespositions during thereporting period(including but notlimited to market risk,liquidity risk, creditrisk, operational riskand legal risk)(including but not limited to market risk, liquidity risk, credit risk, operational risk and legal risk)I. Risk analysisCommodity futures hedging operation can effectively manage the purchase price risk of raw materials,especially reduce the impact of falling price loss caused by high inventories on the company when rawmaterials fall sharply, but there will also be certain risks:1. Risk of abnormal price fluctuations: in theory, the futures market prices and the spot market pricesof all the trade categories at the closing date will return to the same level. In the rare cases of irrationalmarket, the futures prices and spot prices might still not return at the closing date, thus giving rise to asystemic risk event, which in turn affects hedging operation scheme of the company, even causinglosses.2. Capital risk: if the amount of investment in futures trading is too large according to the operatinginstructions issued by the company, it may lead to capital liquidity risk, or even result in actual lossescaused by forced liquidation due to insufficient time to supplement the margin.3. Technical risk: technical risk may be caused by incomplete computer systems.In order to prevent the adverse impact of exchange rate and interest rate fluctuations on the company’sprofits and shareholders' equity, the company needs to conduct capital transaction business of value-preserved exchange rate and interest rate to reduce the risk exposure of foreign exchange and interestrate, but at the same time there are certain risks:1. Market risk. The difference between the contract exchange rate/interest rate and the actual exchangerate/interest rate at maturity date will generate investment gains and losses in the value-preservedcapital transaction business; during the duration of the value-preserved capital transaction business,there will be revaluation gains and losses in each accounting period, and the cumulative value of therevaluation gains and losses at maturity date is equal to the gains and losses on investment.2. Liquidity risk. The value-preserved foreign exchange capital transaction business is based on thecompany’s foreign exchange revenue and expenditure budget, and matches the actual foreign exchangerevenue and expenditure to ensure that the company has sufficient capital for clearing at the time ofclosing, or selects the derivatives for close-out netting to reduce the cash flow requirements at maturitydate; The value-preserved interest rate capital transaction business will all be closed based on the netamount of interest rate difference.3. Performance risk. The counter-parties of the company in value-preserved capital transaction businessare all banks with good credit standing and maintaining long-term business relations with the company,for which there is substantially no performance risk.4. Other risks. When conducting business, if the operators fail to follow the prescribed procedures forthe operation of value-preserved capital transaction business or to fully understand the derivativesinformation, the operational risks will occur; If the terms of the transaction contract are not clear, thelegal risks will be likely to occur.II. Risk management strategiesRisk management strategies for commodity futures hedging:1. Match the hedging business with the company’s production and operation, and strictly control thefutures position.2. Strictly control the capital scale of hedging, reasonably plan and use the margins, issue operatinginstructions in strict accordance with the company’s policies on futures trading management, andconduct operations only after approval according to the regulations.3. The company has established the Derivatives Investment Management Policies and the FuturesManagement Policies, making clear provisions for hedging business, and set up a dedicated futuresoperation team, dedicated futures operation monitoring team and corresponding business processes forcontrol through implementation of authorization and post constraints, internal audit and othermeasures.4. The warning mechanism for medium and long-term trends of major varieties has been established.According to the monitoring mechanism of market price trends, the futures operation and monitoringteam of the company regularly predicts the future trends of major varieties in a certain period, so as toensure timely judgment and disposition of futures varieties in case of abnormal fluctuations.Risk management strategies for value-preserved capital transaction business1. The company conducts value-preserved capital transaction business for the purpose of reducing theimpact of exchange rate fluctuations on the company, and prohibits any risky speculations; the amountof the company’s value-preserved capital transaction business may not exceed the upper limit of theauthorized amount approved by the board of directors or the general meeting; the company may notengage in any leveraged capital transactions.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.372. The business working group of the company shall conduct risk analysis on transactions beforecarrying out the capital transaction business, and formulate and submit the transaction plans (includingcapital transaction variety, term, amount, trading bank, etc.) and feasibility analysis reports to thebusiness leadership group.3. The value-preserved capital transaction business contracts of the company shall be executed after thebusiness working group submits them to and obtain approval from the chief financial officer, presidentand chairman.4. The company shall sign contracts with trading banks with accurate and clear terms, and strictlyimplement the risk management system to prevent legal risks.5. The finance department of the company shall timely track the changes in open market prices or fairvalue of capital transaction contracts, timely assess the changes in risk exposure of the traded contracts,and regularly report to the risk control committee of the board of directors; if any abnormal situation isfound, it shall be reported to the risk control committee of the board of directors to prompt the businessworking group to implement emergency measures.6. The company’s internal audit department shall conduct compliance audit on capital transactioncontracts on a regular basis.Changes in marketprices or product fairvalue of derivatives thatthe company hasinvested in during thereporting period, withthe analysis of fairvalue of derivatives todisclose the specificmethods used andsetting of relatedassumptions andparameters.The hedging transaction variety of the company is the value-preserved capital transaction business forthe prevalent varieties in the domestic futures markets, for which the market transparency is high andthe transactions are active, and the transaction prices and the intra-day settlement unit price fully reflectthe fair value of derivatives.Involvement inlitigations (ifapplicable)Not applicableDate on which theboard approval ofderivatives investmentis announced anddisclosed (if any)Apr.21,2023Special opinions ofindependent directorson derivativesinvestments and riskcontrol of the companyThe company’s derivatives investments for the purpose of hedging have been assessed by designatedrelated department in terms of investment risk. To put an end to speculation in the investment process,the company has released the Derivatives Investment Management Policies and the FuturesManagement Policies. While conducting derivatives business, the company should continue to enhancethe professional competency and capabilities of operating personnel and strengthen supervision.2) Derivatives investments for speculative purposes during the reporting period□applicablenot applicableThe company had no derivatives investments for speculative purposes during the reporting period.5. Use of raised fundsapplicable □not applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.38(1) Overall use of raised fundsapplicable □not applicableUnit: 10,000 yuanYear ofraisingWay ofraisingTotalamountof raisedfundsTotalraisedfunds usedin thecurrentperiodTotalraisedfundsusedaccumulativelyTotalraisedfundsre-purposedduringthereportingperiodTotalraisedfundsre-purposedaccumulativelyPercentage oftotalraisedfundsrepurposedaccumulativelyTotalraisedfundsnot yetusedPurpose anddestination ofraised fund notyet usedAmountofraisedfunds leftidleformorethantwoyears2020Convertible bondspubliclyissued398,282.9 381,553.02 18,675.7 9Idle raised fundsfor temporaryreplenishmentto workingcapital,transferred tospecial accountfor useaccording toproject progress2020Non-publicissuanceof stocks399,475.05 284.41 388,650.36 11,807.6 1Idle raised fundsfor temporaryreplenishmentto workingcapital,transferred tospecial accountfor useaccording toproject progress2021Convertible bondspubliclyissued813,309.64 3,631.88 722,551.6 91,639.5 5Idle raised fundsfor temporaryreplenishmentto workingcapital,transferred tospecial accountfor useaccording toproject progressTotal -- 1,611,06 7.59 3,916.29 1,492,75 4.98 000.00% 122,122.95-- 0Remarks on overall use of raised fundsAccording to the approval of China Securities Regulatory Commission (“CSRC”) in the Reply on Approval of Public Issuing ofConvertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRCApproval [2019] No.1902), the company publicly issued 4billion yuan of convertible corporate bonds with par value of 100 yuan, a total of 40 million bonds for a period of 6 years. Thetotal amount raised was 4 billion yuan, less issuance expense of 17.171 million yuan, the actual net amount raised was 3,982.829million yuan.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.39According to the approval of CSRC in the Reply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd.(CSRCApproval [2020] No.1961), the company privately placed 177,147,918 RMB ordinary shares to two particularshareholders, namely, South Hope Industrial Co., Ltd. and New Hope Group Co., Ltd., with the issue price of 22.58 yuan pershare. The total amount raised was 4 billion yuan, less issuance expense of 5.2495 million yuan, the actual net amount raised was3,994.7505 million yuan.According to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New HopeLiuhe Co., Ltd. (CSRCApproval [2021] No.1351), the company publicly issued 8.15 billion yuan of convertible corporate bondswith par value of 100 yuan, a total of 81.5 million bonds for a period of 6 years. The total amount raised was 8.15 billion yuan,less issuance expense of 16.9036 million yuan, the actual net amount raised was 8,133.0964 million yuan.According to relevant provisions of the Regulatory Guidelines for Listed Companies No.2 - Regulatory Requirements forManagement and Use of Raised Funds by Listed Companies of CSRC, Shenzhen Stock Exchange Guidelines for StandardOperation of Listed Companies and the Administrative Measures of New Hope Liuhe Co., Ltd. for Use of Raised Funds, in light ofthe actual requirements of the company for use and management of raised funds, the company’s entities responsible forimplementation of investment projects using raised funds signed Tripartite Supervision Agreement on Raised Funds with thesponsor institutions and supervising banks respectively, whereby various project entities open earmarked accounts for raised fundswith corresponding organizations of the supervising bank.(2) Projects to which raised funds are committedapplicable □not applicableUnit: 10,000 yuanCommittedinvestmentprojects andinvestmentdestinationsof over-raised fundsWhethertheprojecthas beenchanged(includingpartialchange)Totalcommittedinvestment ofraisedfundsTotalinvestment afteradjustment (1)Amountinvested inthisreportingperiodAccumulativelyinvestedamountas of theend ofperiod(2)Investmentprogressas of theend ofperiod(3)=(2)/(1)Date whenthe projectreaches theintendedusable stateBenefitsrealized inthisreportingperiodWhetherestimatedbenefitshavebeenreachedWhether theprojectfeasibility haschangedsignificantlyCommitted investment projectsNew500,000/aCommercial PigsClusterProject inNingjin,Dezhou,ShandongNo 50,00050,000 49,074.1 5 98.15%Oct.31,2021-2,083.72 No No700,000/aCommercial PigsProject ofHuanghuaXinhaoTechnologyCo., Ltd. inLiguanzhuang VillageNo 70,00070,000 68,899.0 5 98.43%Oct.31,2021-2,117.2 No No6,000/aPigsStandardized FarmNo 10,00010,00010,000100.00%Jul.31,2020-5,480.85 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.40Project ofYuchengNew HopeLiuheSwineBreedingCo., Ltd.300,000/AHogsClusterDevelopment Project inYangyuanCountyNo 20,00020,00020,000100.00%Oct.31,2020-5,340.73 No No1.00million/aHogsBreedingProject ofTongliaoXinhaoFarmingCo., Ltd. atSanyitangFarmNo 117,500117,500 103,902.77 88.43%Oct.31,2021-2,024.17 No No1.00million/aHogsBreedingProject ofTongliaoXinhaoFarmingCo., Ltd. atZhenanFarmNo 117,500117,500 114,677.05 97.60%Oct.31,2021 - 10,226.07No NoJinfengSwine FarmProject ofLeshanNew HopeFarmingCo., Ltd. inJingyanCountyNo 5,0005,0005,000100.00%Nov.30,2019-296.43 No No0.15 millionpigletsbreedingand farmingintegratedeco-industrialpark inLingbao,HenanNo 10,00010,00010,000100.00%Jan.31,2020-1,709.24 No No0.70 millionhogs/afarmingNo 92,00092,000 88,212.8 5 95.88%Nov.30,2021-1,203.42 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.41project inShuozhouLivestockFarm No.1project ofGansu NewHope inPingxianVillageNo 24,00024,000 21,702.3 7 90.43%Nov.30,2021-4,074.07 No NoLivestockFarm No.2project ofGansu NewHope inPingxianVillageNo 24,00024,000 23,304.9 2 97.10%Nov.30,2021-2,393.13 No NoNew 0.70millionhogs projectin XichaTown,LanzhouNewDistrictNo 25,00025,00025,000100.00%Sept.30,2020-8,071.28 No NoTongheFatteningFarmProject inBeihuDistrict,ChenzhouNo 20,00020,00018.8620,000100.00%Nov.30,2021-739.55 No No13,500/abreedingpigs farmconstruction project ofRuzhouQuanshengFarmingTechnologyCo., Ltd.No 16,00016,000 15,110.9 5 94.44%Jul.31,2021-271.53 No No13,500/aStoriedBuildingSowsBreedingandFarmingIntegratedProject inNanxiangVillage,ChengguoTown,LaizhouCityNo 10,00010,00010,000100.00%Dec.31,2020-4,682.18 No NoNew No 20,00020,00020,000100.00% Oct.31, -124.31 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.42300,000/aCommercial Pigs PhaseIBreedingPig FarmProject ofDingzhouXinhaoFarmingCo., Ltd.2020New300,000/aCommercial Pigs PhaseIIBreedingPig FarmProject ofDingzhouXinhaoFarmingCo., Ltd.No 12,00012,00012,000100.00%Jan.31,2021-663 No No13,500/aSwinesFeedingProject ofQingfengXinliuFarmingTechnologyCo., Ltd.No 21,00021,000 19,803.8 7 94.30%Apr.30,2021-939.27 No No13,500Sows FarmProject ofWuhe NewHope LiuheLivestockCo., Ltd. inHuojiaVillage,XiaoxiTownNo 20,00020,00019,92899.64%Jul.31,2021-878.67 No No180,000/aHogs(BreedingandFarmingCycle)Project inChenliuVillage,ShilingTown,Laibin,GuangxiNo 24,00024,00021,899.791.25%Nov.30,2021-1,869.71 No No100,000/aCommercial PigsProject ofNo 6,0006,0005,834.8397.25%Sept.30,2021-311.29 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.43HezeXinhaoFarmingCo., Ltd. inLiangtang72,000/aHogsFatteningFarmConstruction Project inLaizhouNo 6,0006,000265.555,852.8797.55%Oct.31,2021-910.18 No NoGansuXinliu PigFarmingProjectNo 43,50043,500169.69 33,608.0 7 77.26%Aug.31,2022-3,884.73 No NoYiliangXinliu PigFarmingProjectNo 32,00032,00098.71,582.044.94%NotapplicableNotapplicableNo NoLudingXinyue PigFarmingProjectNo 27,50027,500 11,720.3 9 42.62%NotapplicableNotapplicableNo NoLuochengXinhao PigFarmingProjectNo 31,00031,00031.62 25,601.8 1 82.59%Aug.31,2022-465.66 No NoLezhiXinmu PigFarmingProjectNo 28,50028,50028,500100.00%Aug.31,2022-1,681.44 No NoGuigangXinliu PigFarmingProjectNo 53,00053,000680.1 52,921.4 8 99.85%Aug.31,2022-2,520.07 No NoPizhou NewHope PigFarmingProjectNo 53,50053,500 43,243.2 5 80.83%Aug.31,2022-168.28 No NoLiuzhouXinliu PigFarmingProjectNo 22,00022,000389.4 18,580.2 9 84.46%Aug.31,2022-377.36 No NoLipuXinhao PigFarmingProjectNo 13,50013,500271.311,012.381.57%Aug.31,2022-745.67 No NoMeishanXinmu PigFarmingProjectNo 21,50021,50021,500100.00%May 31,2021-321.88 No No0.30 millionhogs farmproject inXiangshanVillage,No 19,00019,000412.2 17,254.0 4 90.81%Aug.31,2022-18.64 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.44XinduTown,Tongcheng72,000 pigsfatteningfarm projectinQipanlingVillage,FangangTown,TongchengNo 16,50016,500182.6915,054.391.24%Aug.31,2022-22.79 No NoPig farmingproject ofYi CountyXinliuNo 18,50018,500 16,351.8 2 88.39%Aug.31,2022-1.58 No No13,500sows farmproject inCiyuVillage,XinxingTown,HeishanCounty,Jinzhou,LiaoningProvinceNo 19,00019,00046.96 18,379.9 8 96.74%Aug.31,2022-602.45 No No72,000 pigsfatteningfarm projectin LiuheVillage,Yingchengzi Township,Jinzhou,LiaoningProvinceNo 16,50016,50012,05073.03%Aug.31,2022-1.68 No No400,000/ahogsbreedingand farmingeco-cycleagriculturalconstruction project ofJuyeXinhaoNo 17,50017,500 16,285.9 1 93.06%Aug.31,2022-2,015.11 No No72,000 pigsfatteningfarm projectof JuyeXinhaoNo 9,0009,0000.028,384.4293.16%Aug.31,2022-195.39 No NoBreedingpig farmproject ofYantaiNo 16,50016,50016,500100.00%Aug.31,2022-2,923.64 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.45XinhaoFarmingCo., Ltd.In-housepigfatteningfarm projectof YantaiXinhaoFarmingCo., Ltd.No 15,00015,000500 13,704.1 4 91.36%Aug.31,2022-1,579.52 No No200,000/aHogsBreedingProject ofPuyangXinliuFarmingTechnologyCo., Ltd. inDongdingzhai VillageNo 17,00017,00017,000100.00%Aug.31,2022-20.38 No No200,000/aHogsBreedingProject ofPuyangXinliuFarmingTechnologyCo., Ltd. inHuoyingVillageNo 16,50016,500583.47 15,971.3 2 96.80%Aug.31,2022-2,210.11 No No100,000/aHogsBreedingProject ofPuyangXinliuFarmingTechnologyCo., Ltd.No 8,0008,000265.737,400.7492.51%Aug.31,2022-1,115.24 No No180,000/aCommercial PigsProject inNiuzhuangTown,DongyingDistrictNo 10,50010,50010,500100.00%Sept.30,2021 - 24,121.94No No180,000/aCommercial PigsProject inLongjuTown,DongyingDistrictNo 9,5009,5009,500100.00%Sept.30,2021-5,905.86 No NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.46ShibingNew HopePigFarmingProjectNo 35,50035,50035,445.399.85%Aug.31,2022-681 No NoSubtotal ofcommittedinvestmentprojects-- 1,290,50 0 1,290,50 0 3,916.29 1,168,25 4.98-- -- - 107,990.4 2-- --Investment destinations of over-raised fundsNoneBank loansrepaid (ifany)-- 244,500244,500244,500100.00% -- -- -- --Workingcapitalsupplemented (if any)-- 80,00080,00080,000100.00% -- -- -- --Subtotal ofinvestmentdestinationsof over-raised funds-- 324,500324,500324,500 -- -- -- --Total -- 1,615,00 0 1,615,00 0 3,916.29 1,492,75 4.98-- -- - 107,990.4 2-- --Explain thecircumstances andreasons forfailing toachieve theplannedprogressandestimatedincome byproject(includingthe reasonswhy“Whetherestimatedbenefitshave beenreached” isselected as“Notapplicable”)All investment projects using raised funds were affected by ASF and the cyclical fluctuation of the pig industry.The selling price of pigs in 2022 fluctuated greatly and remained at a low level from January to June 2023. Someprojects were put into operation in the second half of 2022 when the projects had not reached the full-loadcondition at the initial stage of commissioning, the project capacities were underutilized, and it takes a certainperiod of time for standby sows to move from littering to marketing of commercial pigs, causing the actual incomeof investment projects this year yet to achieve the estimated annual benefit.Remarks onsignificantchanges inprojectfeasibilityNot applicableAmount, Not applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.47purpose anduseprogress ofover-raisedfundsChanges inplaces ofimplementation ofinvestmentprojectsusing raisedfundsNot applicableAdjustments to mannerofimplementation ofinvestmentprojectsusing raisedfundsNot applicablePreliminaryinvestmentsandreplacements ofinvestmentprojectsusing raisedfundsApplicableOn January 22,2020, the 10th meeting of the 8th board of directors and the 6th meeting of the 8th board ofsupervisors of the company deliberated and approved the Proposal on Replacing Self-raised Funds PreviouslyInvested with Funds Raised from Convertible Corporate Bonds, agreeing that the company can replace self-raisedfunds of 1,250.4220 million yuan that the company previously invested in projects with the funds of 1,250.4220million yuan raised.On September 28,2020, the 23rd meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Replacing Self-raised Funds Previously Invested and Part of Issuance Costs with Funds Raisedfrom Non-public Issuance of Stocks, agreeing that the company can replace self-raised funds of 1,866.1513 millionyuan that the company previously invested in projects with the funds of 1,866.1513 million yuan raised.On November 10,2021, the 47th meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Replacing Self-raised Funds Previously Invested with Funds Raised from Convertible CorporateBonds, agreeing that the company can replace self-raised funds that the company previously invested in projectsand payment of part of issuance costs with the funds of 3,360.5204 million yuan raised.Use of idleraised fundstotemporarilysupplementworkingcapitalApplicableOn February 7,2020, the 11th meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 2,200.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofFebruary 23,2021, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On September 28,2020, the 23rd meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 1,200.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofSeptember 15,2021, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On February 25,2021, the 31st meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that theFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.48company can use no more than 1,680.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofFebruary 21,2022, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On September 16,2021, the 43rd meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 700.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofSeptember 7,2022, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On November 10,2021, the 47th meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 4,700.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofNovember 8,2022, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On February 23,2022, the 50th meeting of the 8th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 180.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofFebruary 21,2023, the company returned the aforesaid raised funds used to temporarily supplement workingcapital in entirety into the special account for raised funds and notified the sponsor institution and sponsorrepresentative of the fact accordingly.On September 8,2022, the 5th meeting of the 9th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 110.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. As of June 30,2023, the balance of idled raised funds for the company totemporarily supplement its working capital was 103.6000 million yuan.On November 9,2022, the 8th meeting of the 9th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 950.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofJune 30,2023, the balance of idled raised funds for the company to temporarily supplement its working capital was901.9100 million yuan.On February 23,2023, the 10th meeting of the 9th board of directors of the company deliberated and approvedthe Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that thecompany can use no more than 180.0000 million yuan of idle raised funds to supplement its working capital on atemporary basis for a period of no more than 12 months from the date of deliberation and approval by thecompany’s board of directors. The company’s sponsor institution and independent directors expressed consent tothe aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As ofJune 30,2023, the balance of idled raised funds for the company to temporarily supplement its working capital was180.0000 million yuan.Balance ofApplicableDue to external macro factors, some regions saw late commencement of work and prolonged projectFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.49idle fundsin projectimplementation andreasonsconstruction cycle; due to the impacts of ASF, the construction periods of projects prolonged. Some of investmentprojects using raised funds are constructed phase by phase and the first phase has now completed, with subsequentsecond and third phases underway.Purpose anddestinationof raisedfunds notyet usedAs of June 30,2023, the raised funds not yet used by the company from public issuance of convertible corporatebonds was 186,757,854.29 yuan (of which,6,757,854.29 yuan was deposited in earmarked accounts for raisedfunds, and the remaining 180,000,000.00 yuan was used to temporarily supplement working capital). The raisedfunds not yet used include interest income from earmarked accounts for raised funds.As of June 30,2023, the raised funds not yet used by the company from private placement of stocks was118,076,102.37 yuan (of which,14,476,102.37 yuan was deposited in earmarked accounts for raised funds, and theremaining 103,600,000.00 yuan was used to temporarily supplement working capital). The raised funds not yetused include interest income from earmarked accounts for raised funds.As of June 30,2023, the raised funds not yet used by the company from public issuance of convertible corporatebonds was 916,395,454.90 yuan (of which,14,485,454.90 yuan was deposited in earmarked accounts for raisedfunds, and the remaining 901,910,000.00 yuan was used to temporarily supplement working capital). The raisedfunds not yet used include interest income from earmarked accounts for raised funds.Issues orothercircumstances existingin use anddisclosureof raisedfundsOther details：The company respectively held the11th meeting of the 9th board of directors on April 19,2023 and the generalmeeting of 2022 on May 23,2023, deliberated and approved the Proposal on Closing the Investment Project ofRaised Funds of the Convertible Corporate Bond “Hope Convertible Bond” and Permanently Supplementing theWorking Capital with the Remaining Raised Funds, agreeing that the investment project of the raised funds meetsthe closing conditions, and the remaining raised funds will be used to permanently supplement the working capital.As of June 30,2023, the above remaining raised funds have not yet been applied for permanent supplementation ofthe working capital.The company respectively held the11th meeting of the 9th board of directors on April 19,2023 and the generalmeeting of 2022 on May 23,2023, deliberated and approved the Proposal on Closing and Terminating SomeInvestment Projects of Raised Funds of the Convertible Corporate Bond “Hope Convertible Bond 2” andPermanently Supplementing the Working Capital with the Remaining Raised Funds, agreeing to close the “pigfarm project in Huilongsi Village, Shuanghechang Township of Lezhi County Xinmu Farming Co., Ltd. and theNew Hope 13,500 breeding pigs project in Wansheng Town, Meishan”, terminate the “construction project of 8250breeding pigs and 90,000 commercial pigs in Detuo Town, Luding County, and the 50,000 live pigs project inYiliang County”, and permanently supplement for working capital using the remaining raised funds of 462.0627million yuan (excluding interest income, the specific amount is subject to the actual balance in the special bankaccount on the day of funds transfer). As of June 30,2023, the above remaining raised funds have not yet beenapplied for permanent supplementation of the working capital.The company respectively held the11th meeting of the 9th board of directors on April 19,2023 and the generalmeeting of 2022 on May 23,2023, deliberated and approved the Proposal on Selling Assets to Minority-OwnedCompanies and Related Transactions. The company intends to sell the equity in 7 pig farm projects in Sichuan andChongqing to Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd., including selling the equity in LezhiCounty Xinmu Farming Co., Ltd., Luding Xinyue Farming Technology Co., Ltd., and Meishan Xinmu FarmingCo., Ltd. These three companies are the executing entities of Lezhi Xinmu pig breeding project, Luding Xinyuepig breeding project and Meishan Xinmu pig breeding project of “Hope Convertible Bond 2” fund raising project.(3) Items of change in raised funds□applicablenot applicableThe company had no items of change in raised funds within the reporting period.VII. Sale of major assets and equities1. Sale of major assets□applicablenot applicableThe company did not sell any significant assets during the reporting period.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.502. Sale of major equities□applicablenot applicableVIII. Analysis of major majority-owned and minority-owned subsidiariesapplicable □not applicableMajor subsidiaries and minority-owned companies that have an impact on the company’s net profits of more than 10%Unit: yuanCompanynameCompanytypeMain businessRegistered capitalTotal assets Net assetsBusinessrevenueOperatingprofitsNet profitsBeijingNewHopeLiuheBiotechnologyIndustryGroupCo., Ltd.SubsidiaryTechnical exchangeand technologypromotion;technologydevelopment;agriculturalscientific researchand experimentaldevelopment; feedsales; import andexport of goods andtechnology; importand export agency.(The market entitychooses businessitems at its solediscretion andconducts businessactivities accordingto law; for importand export of goodsand technology,import and exportagency and businessitems subject toapproval accordingto law, businessactivities shall beconducted with theapproval ofcompetentauthorities andaccording toapproved contents;no businessactivities of itemsprohibited orrestricted bynational and localindustry policiesmay be conducted).500,000,000.00 72,782,112,211.59 - 7,938,461,2 26.84 12,191,479,689.92 - 3,615,390,0 42.13 - 3,896,984,5 38.88NewHopeSubsidiaryVenture capitalinvestment (no576,555,600.00 23,155,919,787.83 23,155,795,245.26 0.00 993,439,02 3.54 993,194,58 1.48Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.51LiuheInvestment Co.,Ltd.engagement inguarantee or realestate business; noparticipation ininitiation ormanagement ofpublic or privatesecuritiesinvestment funds orinvest in financialderivatives),investmentmanagement(excluding financial andbrokerage business.Shall not raise, sellor transfer privateplacement productsor private placementproduct earningrights from or tounqualifiedinvestors). (If theaforesaid businessesare conducted, themarket entity maynot raise fundspublicly, take publicdeposits or issueloans; may notpublicly tradesecuritiesinvestment productsor financialderivatives; may notdeal in financialproducts, wealthmanagementproducts or relatedderivativebusinesses);financial advisory(excluding financecompany business);wealth managementconsulting andenterprisereorganizationconsulting; marketsurvey (excludingstate secrets andpersonal privacy);credit investigation,technologydevelopment andtransfer, technicalconsulting services[for business itemsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.52subject to approvalaccording to law, nobusiness activitiesmay be conductedwithout approval ofcompetentauthorities].ShandongNewHopeLiuheGroupCo., Ltd.SubsidiaryImport and exportbusiness (subject tothe catalogue ofimport and exportcommoditiesapproved by theMinistry of ForeignTrade andEconomicCooperation of thePeople’s Republicof China); feed anddrug additive sales;feed raw materialmanagement;enterprisemanagementconsulting services;agriculturalproductsprocurement; cropplanting and sale ofagriculturalproducts; lease ofplant andequipment;operations limitedto branches: meatprocessing andsales; production,processing and salesof feed rawmaterials, veterinarymedicine andchicken auxiliarymaterials; livestockand poultrycompound feed,concentrated feed;processing,hatching,production andmanagement ofbreeding birds;breeding chickenbreeding technologyadvisory services;technical inspectionof quality of poultrymeat products; grainpurchase; animal3,811,76 4,705.00 28,498,197,410.24 6,795,150,8 15.70 33,406,258,188.16 - 112,593,21 6.35 - 112,767,67 7.66Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.53breeding andrearing; veterinaryconsultation;catering chainoperation; storageservices (excludingdangerous goodsand prohibitedgoods); enterprisemanagementeducation andtraining; foodmanagement. [Nobusiness activitiesof items subject toapproval inaccordance with thelaw until soapproved byrelevantauthorities].SichuanNewHopeLiuheFarmingCo., LtdSubsidiaryLicensed items:food production;production of grain-processed food;food operation (saleof prepackagedfoods); foodoperation (sale ofbulk foods); foodimport and export;dealing inveterinary drugs;import and export ofgoods; import andexport oftechnology (forbusiness itemssubject to approvalaccording to law, nobusiness activitiesmay be conductedwithout approval ofcompetentauthorities, withspecific businessitems subject toapproval documentsor permits fromrelateddepartment)generalitems: biologicalfeed research anddevelopment; saleof feed ingredients;sale of feedadditives; sale oflivestock and4988710 000 18,478,191,078.47 7,591,794,6 06.50 15,836,595,180.23 137,211,98 4.55 89,166,648.18Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.54fishery feeds; cerealsales; sale ofagricultural andsideline products;corporateheadquartersmanagement;enterprisemanagement;technical services,technologydevelopment,technicalconsulting,technical exchange,technology transferand technologypromotion (exceptfor business itemssubject to approvalaccording to law,business activitiesare to be conductedat its sole discretionaccording to law byvirtue of businesslicense.Acquisition and disposal of subsidiaries during the reporting periodapplicable □not applicableCompany nameWay of acquisition and disposal ofsubsidiaries during the reporting periodImpact on overall production, operationand performanceWuhan Fenglan Animal NutritionTechnology Co., Ltd.Established by investment Loss of 182,418.10 yuanQiandongnan Xinnong Technology Co.,Ltd.Established by investment Profit of 194,066.61 yuanLiaocheng New Hope Liuhe Down Co.,Ltd.Established by investment Loss of 627,510.87 yuanHeze New Hope Liuhe Down Co., Ltd. Established by investment Loss of 109,919.92 yuanQingdao Xinmu Zhikang BiotechnologyCo., Ltd.Established by investment Loss of 89,661.64 yuanSihui Shengyuan AgriculturalDevelopment Co., Ltd.Transfer Profit of 4,954,893.96 yuanGaomi Liuhe Pig Farming Co., Ltd. Transfer Loss of 4,778,315.16 yuanSantai New Hope Farming FinancingGuarantee Co., Ltd.Transfer Profit of 2,361,062.55 yuanGaoqing Liuhe Longda Feed Co., Ltd. Deregistered Profit of 131,834.88 yuanZhenjiang Hongjing AgriculturalTechnology Co., Ltd.Deregistered No impactAnshan Xinliu Breeding Poultry Co.,Ltd.Deregistered No impactJiuquan New Hope Farming TechnologyCo., Ltd.Deregistered No impactPanjin New Hope Liuhe BreedingPoultry Co., Ltd.Deregistered No impactXiao County Datun Breeding Co., Ltd. Deregistered No impactLhasa New Hope Farming Technology Deregistered Profit of 31,466.36 yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.55Co., Ltd.Wushan County New Hope SwineBreeding Technology Co., Ltd.Deregistered Loss of 2,656,240.41 yuanHubei Xinliu Breeding Co., Ltd. Deregistered Loss of 16,461.15 yuanGuilin Gongcheng Xinyue FarmingTechnology Co., Ltd.Deregistered Loss of 2,485,635.04 yuanLangfang Xinliu Farming TechnologyCo., Ltd.Deregistered Loss of 3,854,158.98 yuanRuzhou New Hope Liuhe Feed Co., Ltd. Deregistered Loss of 95,163.12 yuanRemarks on major majority-owned and minority-owned subsidiariesAs Shandong New Hope Liuhe Group Co., Ltd. Had a business combination under common control during the current period, therelevant statements have been restated to include the assets, liabilities, net profit and comprehensive income of the combinedbusiness.IX. Structured entities controlled by the company□applicablenot applicableX. Risks faced by the company and countermeasuresI. Animal disease and natural disaster risksAnimal disease is the main risk faced in the development of livestock industry. There are three kinds of risks arising out ofthe occurrence of epidemic disease. First, the occurrence of epidemic disease is likely to result in death of livestock, directlyleading to reduction in production, rising costs and drop in prices. Second, the occurrence and prevalence of animal disease on alarge scale easily influence the consumer psychology, lead to shrinking downstream market demands, and affect the feedproduction and operation. For example, the first outbreak of African Swine Fever in China in middle 2018 caused a huge shock tothe whole industry. Although the industry initially explored the prevention, control and treatment methods of comprehensive bio-safety prevention and control combined with precise elimination in 2019 and 2020, ASF experienced a weakened mutation at theturn of winter and spring between the end of 2020 and beginning of 2021, making it more spread channels, longer incubation time,and more difficult to detect and eliminate. In recent years, ASF has gradually become normal, especially in winter and early springwhen the temperature is low, the impact is particularly serious in the north of China. Since 2022, avian influenza outbreaks havecontinued in Europe, North America and South America, which have had a major impact on poultry production and natural birds.Although the current round of avian influenza epidemic has not been large-scale outbreak in China, it still affects the introductionof grandparental breeding chickens in China.In terms of the natural disaster risk, the feed and slaughter are closely related to planting and livestock breeding industry, sothe natural disasters such as temperature anomalies, drought, flood, earthquake, hail, and snow disaster will all adversely affect theindustry operation and development. The natural disasters occurring on the production bases of the company and surroundingareas may cause substantial damages to production facilities or equipment, and the natural disasters and extreme climate may alsodrive the prices of some feed ingredients and meats up. For example, the continuous high temperature and low rainfall in manyprovinces in southwest China in middle 2022 led to the continuous development of drought in some regions, which led to the“power shortage” in many provinces in south China, and had various degrees of impact on planting, breeding and other links in theindustrial chain. In terms of planting, the drought in some regions reduced the production of feeds crops, which will have animpact on the price of feed ingredient and decrease the quality. In terms of breeding, for example, aquaculture exposed to hypoxiacaused by high temperature, which affected the feeding and growth of fish, shrimp and crabs, and led to production decrease. DueFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.56to the drought, water shortage and power limit, the use of breeding facilities and equipment was limited to a certain extent, causinglosses to breeding enterprises and farmers, and affecting the feed sales of the company.Risk countermeasures: in the face of animal disease, the livestock farms planned and constructed by the company’s breedingbase are normalized and standardized farms staffed with professional breeding technologists and equipped with strict anti-epidemic measures to effectively prevent and control the occurrence of epidemic diseases. The company has also summarizedsome experience and measures responding to major animal diseases through years of exploration and accumulation, which allowthe company to eliminates the impact of various animal diseases by adjusting the product mix when appropriate, improving theproduct quality, conducting deep market development actively and reducing the costs. Since 2014, the company has been guidingtechnicians to better serve farmers farmers and staffs of self-run farms by establishing animal healthcare laboratories in variousareas, creating the cloud-based animal healthcare system, and conducting the monitoring and warning of animal diseases in realtime. In view of ASF outbreak in 2018, the company formulated all-round and system-wide prevention and control measures,covering existing self-run pig farms, fattening farms in cooperation with farmers, pig feed production plant and internal animalhealthcare laboratories, with a view to ensuring proper prevention and control at the source of animal nutrition. Meanwhile,actively participating in industry exchanges and exploring more effective containment methods with peers allowed the company’sbio-safety prevention system, pig survival rate and marketing rate to achieve industry-leading levels. From the end of 2020 to thebeginning of 2021, the outbreak of a new round of attenuated ASF in many northern provinces brought new challenges to theapproach formed in the industry on the basis of the past prevention and control of ASF at the initial stage of the outbreak. However,the company continued summing up its experiences and upgrading containment and decontamination methods in the containmentprocess, including whole-herd serum double-antibody and double-screening, application of thermal imagers, and static attenuationand disinfection of materials; and the company added up its containment processes then subtracted so as to avoid slacknessresulting from prolonged and excessively trivial containment processes, which helped restore normal production faster whileensure containment, as well as reduce bio-safety containment costs at the same time. For the risk of avian influenza and otherepidemics, the company has established systematic prevention and control measures. The company’s poultry breeding businesshas always adhered to strict bio-safety measures, and provided cooperative farmers with “water quality testing”, material linewashing and other free services, as well as standardized production process guidance in bio-safety prevention and control, toensure long-term stable operation of production and operation.In response to natural disasters, the company’s extensive business portfolio and presence both at home and abroad helpensure that the company’s business will not be materially affected when natural disasters occur in particular regions. Especially forthe rainstorms and floods in south China, which have occurred frequently in these years, the company has accumulated a largewealth of experience, establishes proven contingency plans and maintains sufficient flood prevention supplies in stock at all times,which allow the company to flexibly guide farmers through production plan adjustments when the flood season begins inpreparation for disaster relief together. At the same time, the company can also take the advantage of its nationwide presence toallocate funds, raw materials, equipment, and staff timely and effectively to resume production as soon as possible and reduce thelosses caused by natural disasters. In response to natural disasters such as heavy rains and floods occurred frequently in southernChina in recent years and the sudden drought in southwest China in 2022, the company has actively established emergency plans,stored sufficient response materials in advance, and flexibly guided farmers to adjust their production plans, so as to achievedisaster mitigation and relief at the same time.II. Risk of price fluctuations of feed ingredientsThe cost of main feed ingredients for feed production accounts for more than 90% of total cost of feed production. In the past,the proportion of feed business in the company’s revenue was large, but as the feed industry generally adopts the cost-plus pricingmethod, the fluctuations in prices of feed ingredients can be partly transmitted to the downstream breeding operations, to relievethe pressure from the rising prices of feed ingredients. However, with a growing percentage of livestock breeding business in thecompany’s revenue, the rising prices of feed ingredients will have a growing impact on the company.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.57Since 2020, due to various factors such as the macroeconomic situation at home and abroad, international trade relations andstorage policies and crop yield in main grain-producing areas of various countries, the prices of main feed ingredients such as cornand soybean meal continuously rose. The outbreak of international geopolitical conflict in early 2022 further pushed up globalagriculture commodity price. Moreover, considering the background of longtime existence of ASF in China, the feed enterpriseswill reduce some high-risk feed ingredients for the safety of animal nutrition, such as usage of corn, pig blood, and pig bone meal,so as to make the demand for raw materials concentrate on other types of raw materials, which will also lead to rise in prices ofsuch alternative raw materials. In the first half of 2023, the price of the world’s main feed raw materials fluctuated continuously inthe overall downward trend, which also increased the difficulty of procurement.Risk countermeasures: the company is the largest feed enterprise in China, with scale advantages and a considerablebargaining power in the raw material procurement. Since 2020, the company applied hedging tools more to control the ingredientprice fluctuation risk. In 2021, the company further reinforced centralized management of raw material procurement across theindustry and reduced feed use cost through processing in bonded zones and other methods. In 2022, the company activelypurchased imported low-price ingredients and alternative ingredients such as wheat, sorghum and brown rice to continuallyoptimize ingredient costs. At present, the company has established strategic partnerships with many domestic and overseas best-run raw material suppliers, while actively exploring domestic and foreign high-quality and safe local raw materials, and openingup the raw material supply network at home and abroad, conducted the supply chain financing of various forms actively, andoptimized its purchasing cost and related financial expenses.III. Risk of price fluctuations of livestock and poultryThe finished products of livestock and poultry breeding business of the company mainly include breeding pig, piglet, hog,baby chick, baby duck, white feather broiler and white feather duck. In recent years, the pig farming business of the company hasbeen growing rapidly, with 14.61 million hogs sold and more than 390 million self-raised and outsourced commercial chicken andducks in 2022, which allowed the livestock and poultry breeding to contribute greater to the entire revenue and profits of thecompany. Along with the further growth of breeding volume of the company in the future, the prices of livestock and poultry willaffect the levels of revenue and profits of the company even more remarkably.In the first half of 2023, the domestic livestock and poultry market as a whole was hovering at the bottom. In terms of pigbusiness, domestic pig prices continued to fall since the beginning of the year, and were below 15 yuan /kg for most of the firsthalf of the year.In terms of poultry business, in the first quarter of 2023, due to the mismatch between supply and demand caused by macro-policy adjustment, it experienced a short-term price rebound. The price of raw white feather broiler and raw white feather duckrecovered quickly from the trough to about 11 yuan/kg at the highest. In the second quarter, the industry output graduallyrecovered, and affected by external macro factors, the price of chicken and duck began to fall to about 8.6 yuan/kg at the lowest.Risk countermeasures: the process of livestock and poultry prices going down itself is a process of the survival of the fittest inthe industry. When some participants withdraw, the total supply declines and the prices rise again, survived businesses are likely togain a greater market share and a higher return on investment than before. In recent years, the company has fully entered the stageof robust operation in pig business, and is gradually improving its business operation efficiency, reducing farming costs andrestoring its original competitiveness by enhancing its internal management capabilities in many ways. On the other hand, unlikemost of agricultural and livestock companies, the company has slaughtering and food processing business at the downstream partof farming and feed business at the upstream part of farming, which happens to hedge against the farming process. The pricedecline of livestock and poultry means that the cost of raw meat in the slaughtering and processing businesses falls too and itsprofit margin will be increased; the declining prices of livestock and poultry also mean the farming volume of livestock andpoultry is at high levels, which also helps increase the profitability of feed business. Such an industry chain presence canmoderately mitigate the effects of declining prices of livestock and poultry on the company.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.58IV. Impact of environmental protection policiesIn recent years, the government and society have increasingly attached importance to environmental protection, and relevantlaws and regulations have been continuously introduced. Since 2014, China has adopted the Regulations on Pollution Preventionand Control of Large-scale Livestock and Poultry Farming; in 2015, the new Environmental Protection Law came into effect; in2016, the State Council issued the 13th Five-Year Plan for Ecological and Environmental Protection. Since 2018, the centralenvironmental protection inspectors have conducted several “follow-up reexaminations”, as the efforts to investigate pollutioncaused by livestock farms were strengthened across the country, ordering some breeding households to shut down forenvironmental remediation or close once for all due to their livestock farming facilities failing to meet the environmental standardsor discharging wastewater beyond the set standards. In 2020, in the context of the sharp shortage of domestic hog supply causedby ASF, local governments have gradually relaxed the environmental protection requirements for farm construction in order topromote the resumption of hog production to ensure supply. However, after 2021, as the hog production capacity graduallyrecovered to the normal range, the environmental protection policies related to breeding returned to a more stringent situation.These pressures from the environmental protection policies will force some livestock and poultry farms failing to meet theenvironmental standards out of the market, and lead to reduced breeding quantities, which will have a certain impact on thecompany’s feed business growth and its acquisition of hogs and poultry for slaughtering business, and will increase the cost of thecompany’s investment in the construction of breeding capacity. In the long run, however, the withdrawal of backward productioncapacity that does not meet the environmental standards will allow the best-run producers that remain in the industry to acquirehigher profitability, which is still of a positive significance to the entire industry.Risk countermeasures: in light of the changes in breeding market, the company makes every effort to maintain existingcustomers on the one hand, and strengthens its cooperation with medium and large-sized farms and farmers that meet theenvironmental standards by changing its feed marketing model and utilizing its industrialized supporting and integrated services.While exploring a new way of breeding, the company regards ecology, environmental protection, efficiency and safety as primaryconsiderations in its project design, helps farmers remodel and build sheds and stalls that meet the higher environmental standards,increase the profitability of breeding business and actively drive the domestic livestock and poultry farming industry to growhealthily. On the other hand, the company actively grows its inventories by cultivating new livestock and poultry farming bases inareas with environmental conditions through construction, acquisition, joint venture and cooperation using its existing businessportfolio across the country, thus ensuring the stability of its breeding resources.V. Risk of food safetyFood safety concerns the physical health and life safety of the general public, and is even a matter of life and death for foodcompanies. The implementation of the revised Food Safety Law in 2015 also means that China has brought its focus on food safetyto an unprecedented level. The outbreak of ASF in 2018 raised even more demanding requirements for food safety control, andmore costs need to be invested in ASF prevention and control in the process of pig recycling and slaughter, pork transportation andtrafficking. In 2019, the State Council issued the Opinions on Deepening Reforms and Strengthening Food Safety Efforts, makingclear the need to further beef up food safety efforts and ensure the “safety on the dining table” of the general public with the mostrigorous standards, the most stringent oversight, the most severe penalties and the most serious accountability.Risk countermeasures: the company has always been highly concerned about food safety by seriously ensuring food safety ineach link of its business practices. In 2015, the company established its Safety and Environmental Protection Department to ensuresafety, health and environmental protection. In 2022, the company further separated the Food Safety and Quality ManagementDepartment from the Safety and Environmental Protection Department, making the latter focus more on food safety-related work.The company has established its food safety management system and safety traceability system for the whole industrial chain fromfeed, breeding, farming to food, and conducted the whole process of safety supervision from the front end of the supply chain tothe end, forming the three-level safety and quality management system and the three-level safety and quality audit systemFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.59including Food Safety and Quality Management Department of the headquarters, Food Safety Management Line of BUs andSafety and Quality Department of branch companies and subsidiaries.The company has improved its level of food safety related work by participating in international cooperation, and passing therelevant industry standards certification. In 2016, the company passed the food technical standard certification issued by theBritish Retail Council (BRC), and was elected the Vice President of the China Council of the Global Food Safety Initiative (GFSI),becoming the first Chinese private enterprise to be selected as a member of the global board of directors of GFSI. At present, allfood businesses of the company have passed China-HACCP certification, and more than 60 food companies are completing theBRC and Global-GAP certifications in succession. In addition, the company systematically explores the antibiotic-reducing andantibiotic-free possibilities in cooperation with multiple parties using the GFSI platform resources, and actively drives thepopularization of antibiotic-reducing and antibiotic-free successful cases. In recent years, the company’s achievements in the fieldof food safety and quality management have been fully recognized by the industry. It has been awarded the title of “2021-2022Food Safety Integrity Unit” by China Food Safety Conference, “2022 Annual Quality Golden Shield Case” by China Quality Press,“Model Unit in China Meat Food Safety Integrity System Construction” by China Meat Association, and “2022 Food SafetyScience and Technology Innovation Award” by China Animal Health and Food Safety Alliance.VI. Risk of exchange rate fluctuationsCurrently, the globalization of raw material procurement for feed production is improved sharply, and the feed enterpriseshave been increasingly affected by the exchange rate in terms of feed ingredients purchasing centered on foreign supply such ascorn, soybean, whey powder, fish meal and DDGS. At the same time, as the company expands its presence abroad, in the foreigninvestment and overseas operations, the cross-border capital transaction and settlement amounts involved are growing, thusmaking the company more vulnerable to exchange rate fluctuations. In recent years, due to the impact of factors such asgeopolitics and foreign exchange policy adjustments, the currencies of some host countries where the company operatesexperienced extraordinary fluctuations, and the exchange rate of these currencies against the US dollar has dropped sharply,combined with the trend of US dollar interest rate increase, which poses a great challenge to foreign exchange management andoperational difficulties of the company.Risk countermeasures: in response to the growing needs for overseas raw material procurement and investment and operation,the company has been building its Singaporean branch into an overseas commercial and trading center and investment andfinancing center, actively conducted international centralized procurement of raw materials, foreign direct financing, supply chainfinance, foreign exchange risk management, funds management and raw materials purchasing risk management to reduce theimpact of exchange rate fluctuations on its cash flow in overseas operations. In the context of the increasing uncertainty in themacro environment and sharp exchange rate fluctuations in recent years, the company has reinforced efforts to improve the abilityof exchange rate forecasting and fund management, continued to pay attention to the dynamics of the Federal Reserve’s interestrate hike, and guaranteed the value of funds through hedging and other means and tools. Meanwhile, the company furtherstrengthened its close connection and communication with overseas financial institutions, overseas agencies of the Chinesegovernment and host governments to analyze the trends of local currency exchange rates in host countries from time to time, makefinancial arrangements and ease the adverse impact of exchange rate fluctuations by means of direct investment in local currencyabroad, etc.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.60Section 4 Corporate GovernanceI. Details of annual general meeting of shareholders and extraordinary general meeting ofshareholders held within the reporting period1. General meetings of shareholders during this reporting periodSession Meeting typeRatio ofattendinginvestorsDate of meeting Date of disclosure Meeting resolutionThe 1stextraordinarygeneral meetingof 2023Extraordinarygeneral meeting55.89% Jan.13,2023 Jan.14,2023Refer to the “Announcementof Resolutions of the FirstExtraordinary GeneralMeeting of 2023” (No.2023-04) published by the companyon China Securities Journal,Securities Daily, SecuritiesTimes, Shanghai SecuritiesNews and onJanuary 14,2023 for details.Annual generalmeeting of2022Annual generalmeeting55.89% May 22,2023 May 23,2023Refer to the “Announcementof Resolutions of the AnnualGeneral Meeting of 2022”(No.2023-48) published bythe company on ChinaSecurities Journal, SecuritiesDaily, Securities Times,Shanghai Securities News and on May 23,2023 for details.2. Extraordinary general meetings of shareholders requested by preferred shareholders with votingrights restored□applicablenot applicableII. Changes in directors, supervisors, and senior executivesapplicable □not applicableName Position held Type Date ReasonHan Bin Supervisor Elected May 22,2023 ElectedJi Yueqi Supervisor Separated May 22,2023 Personal reasonHuang KunDirector of humanresourcesDismissed Jun.29,2023 Job changeIII. Profit distribution and conversion of capital reserves into share capital within thereporting period□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.61The company plans not to distribute cash dividends or allot bonus shares or transfer its capital reserve to share capital in the firsthalf of the year.IV. Implementation of equity incentive plans, employee stock ownership plans or otheremployee incentivesapplicable □not applicable1. Equity incentives(1) At the 4th meeting of the 9th board of directors, the 3rd meeting of the 9th board of supervisors and the secondextraordinary general meeting in 2022, the company deliberated and approved the Proposal on Failure in Meeting the LiftingConditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase andCancellation of Restricted Stocks, agreeing to repurchase and cancel a total of 438,750 restricted stocks held by 15 incentivebeneficiaries under the Incentive Plan 2019. At the 4th meeting of the 9th board of directors and the 3rd meeting of the 9th boardof supervisors, the company deliberated and approved the Proposal on Cancellation of Stock Options under the Restricted Stockand Stock Option Incentive Plan 2019, agreeing to cancel a total of 2,047,500 stock options not exercised by 15 incentivebeneficiaries under the Incentive Plan 2019 within the second exercise period. The company handled and completed therepurchase and cancellation formalities for these restricted stocks and cancellation for the stock options with CSDCShenzhen onFebruary 1,2023.At the 12th meeting of the 9th board of directors, the 9th meeting of the 9th board of supervisors and the annual generalmeeting of 2022 of the company, the Proposal on Failure in Meeting the Lifting Conditions in the Fourth Lifting Period under theRestricted Stock and Stock Option Incentive Plan 2019 and Repurchase and Cancellation of Restricted Stocks was deliberated andapproved. Given that the net profit of the company in 2022 was negative, not meeting the performance assessment requirementsset in the fourth lifting period under the Incentive Plan 2019, the company decided to repurchase and cancel a total of 438,750restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 that have not been released for sale inaccordance with the relevant provisions of the Measures for the Management of Equity Incentives of Listed Companies, ShenzhenStock Exchange Listed Companies Self-Regulatory Guide No.1 - Business Handling Part III: 3.2 Equity Incentives, RestrictedStock and Stock Option Incentive Plan 2019 (Draft) and the Assessment Management Measures of Restricted Stock and StockOption Incentive Plan 2019. The company handled and completed the repurchase and cancellation formalities for these restrictedstocks with CSDCShenzhen on August 3,2023.(2) At the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors, the Proposal onGranting Reserved Restricted Stock to Incentive Beneficiaries was deliberated and approved. In accordance with the relevantprovisions of the Measures for the Management of Equity Incentives of Listed Companies and the Restricted Stock Incentive Plan2022 and the authorization of the company’s annual general meeting of 2021, the board of directors of the company held that thereserved grant conditions stipulated in the Restricted Stock Incentive Plan 2022 had been fulfilled, agreed on the reserved grantdate of this Incentive Plan as May 30,2023, and agreed to reserve 8.095 million restricted shares for 377 incentive beneficiariesmeeting the grant conditions at a reserve grant price of 7.98 yuan/share. The company handled and completed the registration ofthe reserved grant of this Restricted Stock Incentive Plan at CSDCShenzhen on July 24,2023 and the listing date of the restrictedstock is July 25,2023.2. Implementation of employee stock ownership plansapplicable □not applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.62Any and all employee stock ownership plans valid within the reporting periodScope ofemployeesNumber ofemployeesTotalshareholding(shares)Record ofchangeProportion in thetotal capital stockof the listedcompanySource of funds for the planimplementationSupervisor andcore staff of thecompany(includingmajority-ownedsubsidiaries)2,20040,933,250 None 0.90%A-share ordinary sharesrepurchased by the companyusing the special securitiesaccountShareholding of director, supervisor and senior executives under the employee stock ownership plan within the reporting periodName PositionBeginningshareholding (shares)Ending shareholding(shares)Proportion in the totalcapital stock of thelisted companyXu ZhigangChairman of board ofsupervisors60,00060,0000.00%Duan Peilin Supervisor 40,00040,0000.00%Change of asset management organization within the reporting period□applicablenot applicableChange in equity within the reporting period due to holder’s disposal of the shares□applicablenot applicableExercise of shareholders’ rights within the reporting periodNo exercise of shareholders’ rights under employee stock ownership plan within the reporting period.Other circumstances and notes to employee stock ownership plan within the reporting periodapplicable □not applicableThe Employee Stock Ownership Plan 2022 is still in the lock-up period, and the share of the departed personnel has been handledin accordance with the provisions of the Management Measures for the Employee Stock Ownership Plan 2022 of New Hope LiuheCo., Ltd. (Revision).Change in members of Employee Stock Ownership Plan Management Committeeapplicable □not applicableThe first holder meeting of the company’s ESOP 2022 was held on August 26,2022, deliberating and approving the Proposalon the Election of Members of the Management Committee of the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co.,Ltd., and agreeing to elect Zhang Minggui, Chen Xingyao and Huang Kun as members of the Management Committee of theEmployee Stock Ownership Plan 2022 for a same length of term of office as the duration of the ESOP 2022.The second holder meeting of the company’s ESOP 2022 was held on July 20,2023, deliberating and approving the Proposalon the Election of Members of the Management Committee of the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co.,Ltd. The Management Committee received a written resignation report submitted by Ms. Huang Kun, a member of the committee.Ms. Huang Kun requested to resign as a member of the Management Committee of the Employee Stock Ownership Plan due toother work arrangements of the company. According to the relevant provisions of the Management Measures for the EmployeeStock Ownership Plan 2022 of New Hope Liuhe Co., Ltd., Ms. Huang Kun’s resignation would result in the number of members ofthe Management Committee being lower than the number specified in the Plan. In order to ensure the smooth deployment of theESOP work, it’s agreed to elect Ms. Wang Jing as a member of the ESOP 2022 Management Committee for a same length of termof office as the duration of the ESOP 2022.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.63Financial impact of employee stock ownership plan on the listed company within the reporting period and relevant accountingtreatmentapplicable □not applicableAccording to the Accounting Standards for Business Enterprises No.11 - Share-based Payment, in case of equity-settledshare-based payment in exchange for employee services that are feasible upon completion of services within the waiting period ormeeting specified performance conditions, at each balance sheet date of the waiting period, services acquired during the periodshall be credited to the relevant costs or expenses and capital reserves at the fair value of the grant date of the equity instrumentsbased on the best estimate of the number of available equity instruments. The company will conduct corresponding accountingtreatment in accordance with the relevant provisions of the Accounting Standards for Business Enterprises. The company’s ESOP2022 expense amortization amount was 66,639,331.00 yuan during the reporting period.Termination of employee stock ownership plan within the reporting period□applicablenot applicableOther remarks:None3. Other employee incentive measures□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.64Section 5 Environmental and Social ResponsibilitiesI. Major environmental issuesWhether the listed company and its subsidiaries are key emitters announced by the environmental protection departmentyes □noEnvironmental protection related policies and industrial standardsEnvironmental protection related policies and industrial standards1 Discharge standard of water pollutants for meat packing industry (GB 13457-1992)2 Water quality standards for sewage discharged into urban sewers (GB/T 31962-2015)3 Emission standards for odor pollutants (GB 14554-1993)4 Comprehensive Emission Standards for Regional Air Pollutants (DB37/ 2376-2019)5 Emission standard of air pollutants for boiler (GB 13271-2014)6 Boiler Air Pollutant Emission Standards (DB37/ 2374-2018)7 Catering Industry Fume Emission Standards (DB37/597-2006)Administrative licenses for environmental protectionCompany name Pollutant Discharge PermitNo. Issuing date Expiry dateLinyi Liuhe Food Co., Ltd.91371424690608012M001YJan.1,2022 Dec.31,2026Lanling New Hope Liuhe Hongjun Food Co., Ltd.91371324074412809A001ZJan.6,2022 Jan.5,2027Pingyi Refrigeration Factory of Shandong New Hope Liuhe GroupCo., Ltd.91371326730643307N001XDec.30,2021Dec.30,2026Qingdao Tianrun Food Co., Ltd.9137028373726158XG001RSept.15,2021Nov.28,2026Xiaoyi New Hope Liuhe Food Co., Ltd.911411815684736446001PNov.15,2021Nov.15,2026Yishui New Hope Liuhe Food Co., Ltd.91371323676832608P001QDec.31,2021Dec.30,2026Guantao Liuhe Food Co., Ltd.911304338720976263001WApr.25,2023Apr.24,2027Binzhou Liuhe Longda Farming Co., Ltd.91371600780754056D001XDec.15,2021Dec.14,2026Wudi Liuhe Xinyang Food Co., Ltd.913716237892643444001WDec.2,2021 Dec.1,2026Zouping Liuhe Livestock Co., Ltd.9137162672075787X3001YDec.16,2021Dec.15,2026Shan County Liuhe Feed Co., Ltd. Food Branch 91371722054960365G001WJan.1,2022 Dec.31,2026Cao County Liuhe Food Co., Ltd.91371721668055386B001YJan.1,2022 Dec.31,2026Jiaxiang New Hope Liuhe Food Co., Ltd.91370829MA3C7NQJ53001VDec.11,2021Dec.10,2026Yuncheng Liuhe Food Co., Ltd.913717257939188497001RDec.14,2021Dec.13,2026Anshan Liuhe Food Co., Ltd.91210321664575659M001RNov.30,2021Nov.29,2026Panjin Liuhe Farming Co., Ltd.91211121696196493W001RDec.22,2021Dec.21,2026Dong’e Liuhe Lvjia Food Co., Ltd.91371524554382151H001YSept.11,2021Sept.10,2026Shen County New Hope Liuhe Qingsizhai Food Co., Ltd.91371522081794657Y001XDec.7,2021 Dec.6,2026Yanggu Liuhe Luxin Food Co., Ltd.91371521684826830M001QAug.31,2021Aug.30,2026Weifang Tianhui Food Co., Ltd.913707837961923691001RJan.1,2022 Dec.31,2026Weifang Heshengyuan Food Co., Ltd.91370784771026284D001XDec.31, Dec.30,Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.65 20212026Luoyang Liuhe Huiquan Food Co., Ltd.914103816794610724001PSept.30,2021Sept.29,2026Hebi Liuhe Zhizhen Food Co., Ltd.91410621MA3X68M315001YNov.28,2021Nov.27,2026Laiwu New Hope Liuhe Food Co., Ltd.91371202082953517U001QDec.24,2021Dec.23,2026Dezhou Liuhe Zhikang Food Co., Ltd.91371421673188095B001WJan.1,2021 Dec.31,2026Fei County Liuhe Huahai Food Co., Ltd.913713255903361016001YSept.8,2021Sept.7,2026Fuxin Liuhe Farming Co., Ltd. Food Branch 91210900749795052A001VDec.12,2021Dec.11,2026Taiqian New Hope Liuhe Luxin Food Co., Ltd.91410927MA483TF88Y001VMar.21,2022Mar.20,2027Laoting Liuhe Xinmeizi Food Co., Ltd.91130225590963076Q001ZDec.11,2021Dec.10,2026Qixia Refrigeration Factory of Shandong New Hope Liuhe GroupCo., Ltd.91370686731690885C001ZNov.25,2022Nov.24,2027Laiyang Tianye Food Co., Ltd.913706826705109232001YAug.27,2021Aug.26,2026Tai'an Taishan Liuhe Food Co., Ltd.9137090066443838XT001UAug.15,2022Aug.14,2027Shandong New Hope Liuhe Group Co., Ltd. Linyi Branch 913713127232785168001QApr.30,2022Apr.29,2027Qingdao Liuhe Wanfu Food Co., Ltd.91370285697168937U001WDec.7,2021 Dec.6,2026Fenxi New Hope Liuhe Food Co., Ltd.911410346966540364001RJun.15,2022Jun.14,2027Pingyi Liuhe Fada Food Co., Ltd.91371326672203062C001YNov.26,2021Nov.25,2026Linyi Liuhe Hongchen Farming Co., Ltd.91371300684847260M001QDec.8,2021 Dec.7,2026Beijing Kinghey Food Co., Ltd.91110000741567725K001ZNov.28,2022Nov.27,2027Hebei Kinghey Meat Industry Co., Ltd.91130581776166315U001ZDec.14,2021Dec.13,2026Liaoning Kinghey Food Co., Ltd.91210113784575311A001YDec.20,2021Dec.19,2026Chengdu Hope Food Co., Ltd.91510132621702689Y001POct.18,2021Oct.17,2026Shandong Kinghey Food Co., Ltd.91371427MA3RH2YL3A001VAug.6,2021 Aug.5,2026Industrial emission standards and details of pollutant discharge involved in production and business activitiesName ofcompanyorsubsidiaryCategoryofmajorpollutantsandparticularpollutantsName ofmajorpollutantsandparticularpollutantsWay ofdischargeNumber ofdischargeoutletsDistribution ofdischarge outletsEmissionconcentration/intensityPollutantemissionstandardsappliedTotalemissionsTotalapprovedemissionsExcessiveemissionLinyiLiuheFood Co.,GaspollutanWaste gas:nitrogenoxide,Wastegas:directly6 (5forwasteWastegas: eastside ofCOD:450mg/LTN: 50mg/LDischargestandard ofwaterCOD:0.483753t/a;COD:0.483753t/a;NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.66Ltd. ts,liquidpollutantsparticulatematter,sulfurdioxide,hydrogensulfide,ammonia,odorconcentrationWastewater: COD,ammonianitrogen,totalnitrogen,totalphosphorus,pH value,BOD5,animal andvegetableoil,suspendedsolids,coliformgroupsdischarged aftertreatmentWastewater:indirectlydischargedgas,1forwastewater)thecompany’s plantWastewater:southside ofthe westgate ofthecompanyNH3-N:35mg/LTP: 6mg/LpH: 6-8.5SS: 200mg/LBOD5:120mg/LAnimal andvegetable oil:50mg/LNOx:150mg/Nm3SO2:50mg/Nm3Dust:10mg/Nm3pollutantsfor meatpackingindustry(GB 13457-1992)Agreementswith sewagetreatmentplantsEmissionstandardsfor odorpollutants(GB 14554-1993),Emissionstandard ofairpollutantsfor boiler(GB 13271-2014),Boiler AirPollutantEmissionStandards(DB37/2374-2018)NH3-N:0.017548t/aNH3-N:0.01753748t/aLanlingNewHopeLiuheHongjunFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration, sulfurdioxide,nitrogenoxides,particulatematter,RingelmanblacknessWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Eastside ofthe plantAmmonianitrogen<5mg/L,COD<50mg/L;Boiler<50mg/Nm3, odorconcentration2000mg/Nm3,Boiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993)Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-COD13.1t/a,ammonianitrogen1.3t/aCOD13.1t/a,ammonianitrogen1.3t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.67suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.North WaterDiversionProject inShandongProvince(L.Z.J.B.F.[2011] No.35),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration, sulfurdioxide,nitrogenoxides,particulatematter,RingelmanblacknessWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged3 (2forwastegas,1forwastewater)Wastegas:northwest sideof theplantandwithinthe plantWastewater:northeast side ofthecompanyAmmonianitrogen45mg/lCOD 500mg/lTotalphosphorus8mg/lTotal nitrogen70mg/lBoiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD cr:11.8t/aNH3-N:0.23t/aTotalphosphorus5.29t/aTotalnitrogen46.3t/aCOD cr:11.8t/aNH3-N:0.23t/aTotalphosphorus5.29t/aTotalnitrogen46.3t/aNoneQingdaoTianrunFood Co.,GaspollutanWaste gas:ammonia(ammoniaWastegas:directly8 (7exhaust gasWastegas: 2 attheCOD: 40mg/l,NH3-N:2mg/l, TP:EmissionStandardsfor CookingCOD cr:16.94t/aNH3-N:COD cr:16.94t/aNH3-N:NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.68Ltd. ts,liquidpollutantsgas),hydrogensulfide,odorconcentration, sulfurdioxide,nitrogenoxides,particulatematter,dyeing andfinishingfumesWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups,total saltcontentdischarged aftertreatmentWastewater:indirectlydischarged withstableflowdischargeoutlets:chicken linesewageregulationtank,ducklinesewageregulationtank,chicken lineworkshop,ducklineworkshop,preparedproductworkshop,canteen,boilerroom,and 1wastewaterdischargeoutlet:comprehensivewastewaterdischargeoutlet)northeast side oftheplant,1at thesoutheast side oftheplant,3in theplantand 1 atthenorthwest sideof theplantWastewater:northwest sideof thecompany0.4mg/l, TN:20mg/l, pH6- 8.5Fume inCateringIndustry(DB37/597-2005),ComprehensiveEmissionStandardsfor RegionalAirPollutants(DB37/2376-2019),Boiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993),Comprehensive emissionstandard ofairpollutants(GB 16297-1996),Environmental qualitystandardsfor surfacewater (GB3838-2002),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Standard forirrigationwaterquality (GB5084-2021),ComprehensiveDischargeStandard ofWater0.85t/aTotalnitrogen8.26t/a0.85t/aTotalnitrogen8.26t/aFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.69Pollutants inBasin Part5:PeninsulaBasin(DB37/3416.5-2018)YishuiNewHopeLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas), odorconcentration,hydrogensulfideWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged1Northwest sideof theplantCOD:500mg/LTN: 70mg/LNH3-N:45mg/LTP: 8mg/LpH: 6-8.5SS: 200mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LEmissionstandardsfor odorpollutants(GB 14554-1993),Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD cr:139.59t/aNH3-N:2.8t/aTotalnitrogen73.58t/aTotalphosphorus8.41t/aCOD cr:139.59t/aNH3-N:2.8t/aTotalnitrogen73.58t/aTotalphosphorus8.41t/aNoneGuantaoLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas), odorconcentration,hydrogensulfide,fumeWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorusWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged8 (2boilerdischargeoutlets,4odordischargeoutlets,1fumeoutletand 1wastewaterdischargeoutlet)Northwest sideof theplantCOD: 50mg/LBOD5:10mg/LNH3-N:5mg/LSS: 10mg/LAnimal andvegetable oil:1mg/LDischargestandard ofpollutantsformunicipalwastewatertreatmentplant (GB18918-2002)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)StandardsforCOD cr:8.115t/aNH3-N:0.812t/aSO2:2.276t/aNOx:6.829t/aCOD cr:8.115t/aNH3-N:0.812t/aSO2:2.276t/aNOx:6.829t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.70(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.irrigationwaterquality (GB5084-2005)Emissionstandard ofairpollutantsfor boiler(GB 13271-2014)CateringIndustryFumeEmissionStandards(Tentative)(GB18483-2001)BinzhouLiuheLongdaFarmingCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,particulatematter,sulfurdioxide,Ringelmanblackness,nitrogenoxideWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Wastegas: eastside ofthe plantWastewater:westside ofthe plantCOD: 50mg/LBOD5:10mg/LNH3-N:5mg/LSS: 10mg/LAnimal andvegetable oil:1mg/LEmissionstandardsfor odorpollutants(GB 14554-1993)Boiler AirPollutantEmissionStandards(DB37/2374-2018)Emissionstandard ofairpollutantsfor boiler(GB 13271-2014)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)COD11.85t/aNH3-N:0.65t/aNotapplicableNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.71WudiLiuheXinyangFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematters,SO2, Nox,odorconcentration,hydrogensulfide,ammonia(ammoniagas)Wastewater: COD,ammonianitrogen(NH3-N),totalnitrogen(N), BOD5,pH value,suspendedsolids,coliformgroups,animal andvegetableoilWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged1South ofthe plantCOD:500mg/LTN: 70mg/LNH3-N:45mg/LpH: 6-8.5SS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LEmissionstandardsfor odorpollutants(GB 14554-1993)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD cr:5.63t/aNH3-N:1.66t/aTotalnitrogen3.19t/aCOD cr:257.2t/aNH3-N:23.1t/aTotalnitrogen56t/aNoneZoupingLiuheLivestockCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:hydrogensulfide,ammonia(ammoniagas), odorconcentrationWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen(N), pHvalue,animal andvegetableoil, BOD5,suspendedsolids,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged1Sewagedischarge outletat thenortheast cornerof thecompanyCOD:500mg/LTN: 70mg/LNH3-N:45mg/LTP: 8mg/LpH: 6-8.5SS: 200mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LEmissionstandardsfor odorpollutants(GB 14554-1993)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD:18t/a,NH3-N:2.6t/a,TP:0.3t/a,TN:4.8t/aNotapplicableNoneShanCountyLiuheFeed Co.,Ltd. FoodGaspollutants,liquiWaste gas:ammonia(ammoniagas),hydrogenWastegas:directlydischarged after4 (3forwastegas,1forWastegas:northwest sideof theCOD:500mg/LTN: 70mg/LNH3-N:21mg/LBoiler AirPollutantEmissionStandards(DB37/COD:405t/a,NH3-N:28.35t/a,TN:COD:405t/a,NH3-N:28.35t/a,TN:NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.72Branch dpollutantssulfide,odorconcentration, sulfurdioxide,nitrogenoxides,particulatematter,RingelmanblacknessWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.treatmentWastewater:indirectlydischargedwastewater)plantWastewater:northeast side ofthe plantTP: 8mg/LpH: 6-8.5SS: 300mg/LBOD5:250mg/LTotal saltcontent:1600mg/L2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993),Ultra-lowEmissionNo.2Modification List toShandongBoiler AirPollutantEmissionStandards(L.Z.J.B.F.[2016] No.46),Comprehensive emissionstandard ofairpollutants(GB 16297-1996),Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandong94.5t/a 94.5t/aFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.73Province(L.Z.J.B.F.[2011] No.35),Notice onApprovaland Releaseof theModification List toAdd TotalSalt ContentIndex Limitin 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(L.Z.J.B.F.[2014] No.7)CaoCountyLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:hydrogensulfide,odorconcentration,ammonia(ammoniagas)Wastewater: COD,ammonianitrogen(NH3-N),suspendedsolids,BOD5,animal andvegetableoil, totalcoliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged1Westside ofthe plantCOD:300mg/LNH3-N:21mg/LpH: 6-8.5SS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LEmissionstandardsfor odorpollutants(GB 14554-1993)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COG:15.84T/aNH3-N:7.04T/aCOD:16T/a;NH3-N:8T/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.74JiaxiangNewHopeLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:odorconcentration,ammonia(ammoniagas),hydrogensulfide,particulatematter, foulsmellWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P), pHvalue,suspendedmatter,BOD5,animal andvegetableoil,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged5 (4forwastegas,1forwastewater)Wastegas:southand eastsides ofthe plantWastewater:westside ofthe plantCOD:500mg/L,NH3-N:45mg/l, TN:8mg/L, TP:8mg/LEmissionstandardsfor odorpollutants(GB 14554-1993)Comprehensive emissionstandard ofairpollutants(GB 16297-1996),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),/,Integratedwastewaterdischargestandard(GB 8978-1996)COD:41.36t/a,NH3-N:2.8t/a,TN:76t/aCOD:45.56t/a,NH3-N:3.96t/a,TN:88.83t/aNoneYunchengLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:odorconcentration,ammonia(ammoniagas),hydrogensulfide,particulatematter, foulsmellWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas:northside ofthe plantWastewater:westside ofthe plantCOD:34.4mg/l,NH3-N:1.03mg/lBoiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993),ComprehensiveEmissionStandardsfor AirPollutants(GB 16297-1996),COD:6.5t/a,NH3-N:0.5t/aCOD:32.4t/a,NH3-N:5.4t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.75phosphorus(in P), pHvalue,suspendedmatter,BOD5,animal andvegetableoil,coliformgroupsComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(DB37/ 599－2006),Modification List toAdd TotalNitrogenLimit in 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(DB37/599-2006)AnshanLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematter,sulfurdioxide,nitrogenoxides,exhaustionblackness,mercuryand itscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater: pH value,Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas:northwest sideof theplantWastewater:east sideof theplantSS: 300mg/LColiformgroups:10000/LNH3-N:30mg/LBOD5:250mg/LpH: 6.0-8.5Totaldissolvedsolids:2000mg/LAnimal andvegetable oil:50mg/LCOD:450mg/LEmissionstandard ofairpollutantsfor boiler(GB 13271-2014),Emissionstandardsfor odorpollutants(GB 14554-1993),Comprehensive emissionstandard ofairpollutants(GB 16297-1996),COD:153t/a,NH3-N:15.3t/aCOD:153t/a,NH3-N:15.3t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.76COD, totaldissolvedsolids, flowrate,ammonianitrogen(NH3-N),suspendedsolids,BOD5,animal andvegetableoil,coliformgroupsIntegratedWastewaterDischargeStandard(DB21/1627-2008),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)PanjinLiuheFarmingCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematter,sulfurdioxide,nitrogenoxides,exhaustionblackness,mercuryand itscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater: pH value,COD, totaldissolvedsolids, flowrate,ammonianitrogen(NH3-N),suspendedsolids,BOD5,animal andvegetableWastegas:directlydischarged aftertreatmentWastewater:directlydischarged2 (1forwastegas,1forwastewater)Wastegas:northwest sideof theplantWastewater:northeast side ofthe plantSS: 20mg/LColiformgroups:10000/LBOD5:10mg/LNH3-N:8mg/LCOD: 50mg/LAnimal andvegetable oil:20mg/LpH: 6.0-8.5TN (in N):15mg/LEmissionstandard ofairpollutantsfor boiler(GB 13271-2014),/Emissionstandardsfor odorpollutants(GB 14554-1993)IntegratedWastewaterDischargeStandard(DB21/1627-2008),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD:45t/a,NH3-N:7.2t/aTN:13.5t/aCOD:45t/a,NH3-N:7.2t/aTN:13.5t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.77oil,coliformgroupsDong’eLiuheLvjiaFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematter,sulfurdioxide,nitrogenoxides,exhaustionblackness,mercuryand itscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater: pH value,COD, totaldissolvedsolids, flowrate,ammonianitrogen(NH3-N),suspendedsolids,BOD5,animal andvegetableoil,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas:northeast side ofthe plantWastewater:northeast side ofthe plantNH3-N: 4.32mg/L,COD cr:49mg/LOdor: 724Emissionstandardsfor odorpollutants(GB 14554-1993),Notice ontheImplementation ofSpecialEmissionLimits ofAirPollutants inBeijing-Tianjin-Hebei AirPollutionTransmission ChannelCities(Ministry ofEnvironmentalProtectionNotice No.9,2018)Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(L.Z.J.B.F.[2011] No.35),Dischargestandard ofCOD:13.100000t/a;NH3-N:1.300000t/a; TP:0.200000t/a;TN:13.500000t/aNotapplicableNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.78waterpollutantsfor meatpackingindustry(GB 13457-1992)ShenCountyNewHopeLiuheQingsizhai FoodCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematter,sulfurdioxide,nitrogenoxides,exhaustionblackness,mercuryand itscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater: pH value,COD, totaldissolvedsolids, flowrate,ammonianitrogen(NH3-N),suspendedsolids,BOD5,animal andvegetableoil,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Wastegas:insidethe plantWastewater:northside ofthe plantCOD cr:50mg/L,BOD5:10mg/L,NH3-N:5mg/L,Animal andvegetable oil:3mg/LEmissionstandardsfor odorpollutants(GB 14554-1993),Modification List No.2to ShandongRegionalComprehensive AirPollutantEmissionStandards(DB/372376-2013)(L.Z.J.B.F.[2016] No.46)WaterPollutantDischargeStandardsfor DownIndustry(GB 21901-2008),Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(L.Z.J.B.F.COD:25.2t/aNH3-N:2.52t/aCOD:25.2t/aNH3-N:2.52t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.79[2011] No.35),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)YangguLiuheLuxinFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,particulatematter,nitrogenoxide,sulfurdioxide,RingelmanblacknessWastewater: pH value,COD,BOD5,suspendedmatter,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),animal andvegetableoil,coliformgroups,anionicsurfactantWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged3 (2forwastegas,1forwastewater)Wastegas:northeast side ofthe plantWastewater:northeast side ofthe plantNH3-N:5mg/L.COD:40mg/L.TN: 15mg/L.TP: 0.5mg/LEmissionstandardsfor odorpollutants(GB 14554-1993),Comprehensive emissionstandard ofairpollutants(GB 16297-1996),Notice ontheImplementation ofSpecialEmissionLimits ofAirPollutants inBeijing-Tianjin-Hebei AirPollutionTransmission ChannelCities(Ministry ofEnvironmentalProtectionNotice No.9,2018)Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeCOD:24.6t/aNH3-N:1.04t/aCOD:24.6t/aNH3-N:1.04t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.80Standardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(L.Z.J.B.F.[2011] No.35),ComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(DB37/ 599－2006),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,WaterPollutantDischargeStandardsfor DownIndustry(GB 21901-2008)”WeifangTianhuiFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:particulatematter,hydrogensulfide,ammonia(ammoniagas), odorconcentration, sulfurdioxide,nitrogenoxides,Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas:northside inthe plantWastewater:southside inthe plantCOD:500mg/L,NH3-N:45mg/L,TP: 8mg/L,TN: 8mg/L,ComprehensiveEmissionStandards ofRegionalAirPollutants inShandongProvince(DB37/2376-2013),EmissionstandardsCOD:225t/aNH3-N:20.25t/aTN:31.5t/aCOD:225t/aNH3-N:20.25t/aTN:31.5t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.81RingelmanblacknessWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P), pHvalue,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,anionicsurfactantfor odorpollutants(GB 14554-1993),Boiler AirPollutantEmissionStandards(DB37/2374-2018)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)WeifangHeshengyuan FoodCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration, fumes,Ringelmanblackness,particulatematter,sulfurdioxide,nitrogenoxidesWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P), pHvalue,suspendedWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged5 (4forwastegas,1forwastewater)Wastegas:northwest sideof theplant,east sidein theplantWastewater:northeast side ofthe plantCOD:70mg/L,NH3-N:10mg/L,Emissionstandardsfor odorpollutants(GB 14554-1993),EmissionStandardsfor CookingFume inCateringIndustry(DB37/597-2005),Boiler AirPollutantEmissionStandards(DB37/2374-2018)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,COD:667.7t/aNH3-N:60.093t/aTN:93.478t/aCOD:667.7t/aNH3-N:60.093t/aTN:93.478t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.82solids,BOD5,coliformgroups,animal andvegetableoilWaterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)LuoyangLiuheHuiquanFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas), odorconcentration,hydrogensulfide,fumeWastewater: COD,ammonianitrogen(NH3-N),totalphosphorus(in P), pHvalue,BOD5,suspendedsolids,animal andvegetableoil,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas: eastside ofthe plantWastewater:southwest sideof theplantCOD: 70mg/LNH3-N:15mg/LpH: 6-8.5TP: 0.5mg/LSS: 60mg/LBOD5:25mg/LAnimal andvegetable oil:15mg/LColiformgroups: 5000/LFume:2.0mg/Nm3CateringIndustryFumeEmissionStandards(GB18483-2001),Emissionstandardsfor odorpollutants(GB 14554-1993)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Integratedwastewaterdischargestandard(GB 8978-1996)COD:10t/aNH3-N:2.43t/aCOD:10t/aNH3-N:2.43t/aNoneHebiLiuheZhizhenFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:odorconcentration,ammonia(ammoniagas),hydrogensulfideWastewater: COD,ammonianitrogen(NH3-N),pH value,suspendedsolids,BOD5,animal andIndirectlydischarged1Northeast cornerof theplantCOD:45mg/L,NH3-N:0.5mg/L,TP:4mg/L,TN:35mg/L,COD:350mg/L,NH3-N:35mg/L,TP:4mg/L,TN:45mg/L,COD:14.6415t//a,NH3-N:1.3359t/aCOD:64.1232t//a,NH3-N:10.6872t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.83vegetableoil,coliformgroups,totalnitrogen (inN), totalphosphorus(in P)LaiwuNewHopeLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:sulfurdioxide,nitrogenoxides,dust,ammonia(ammoniagas),hydrogensulfide,odorconcentrationWastewater: COD,ammonianitrogen(NH3-N),pH value,BOD5, totalnitrogen (inN), totalphosphorus(in P),animal andvegetableoil,suspendedsolidsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged7 (6forwastegas,1forwastewater)Wastegas:northside ofthe plantWastewater:northside ofthe plantCOD:500mg/LNH3-N: /mg/LTN: /mg/LpH: 6.0-8.5TP: /mg/LSS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LNOx:50mg/Nm3SO2:50mg/Nm3Dust:10mg/Nm3Ringelmanblackness:level 1Emissionstandardsfor odorpollutants(GB 14554-1993),Ultra-lowEmissionNo.2Modification List toShandongBoiler AirPollutantEmissionStandards(L.Z.J.B.F.[2016] No.46),Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)COD:23.682t/aNH3-N:60.75t/aPM:0.119t/aSO2:0.183t/aNOx:0.625t/aCOD:594t/aNH3-N:53.46t/aPM: /t/aSO2:/t/aNOx::/t/aNoneDezhouLiuheZhikangFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:sulfurdioxide,nitrogenoxides,dust,ammonia(ammoniagas),hydrogensulfide,odorconcentrationWastewater: COD,ammoniaWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged3 (2forwastegas,1forwastewater)Wastegas:northside ofthe plantWastewater:westside ofthe plantCOD:500mg/LNH3-N:45mg/LTN: 70mg/LpH: 6.0-8.5TP: 8mg/LSS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LRingelmanblackness:level 1NOx:150mg/Nm3Boiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandard ofairpollutantsfor boiler(GB 13271-2014),Emissionstandardsfor odorpollutants(GB 14554-COD:23.3tCOD:23.3tNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.84nitrogen(NH3-N),pH value,BOD5, totalnitrogen (inN), totalphosphorus(in P),animal andvegetableoil,suspendedsolidsSO2:50mg/Nm3Dust:10mg/Nm31993)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)FeiCountyLiuheHuahaiFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:odorconcentration,ammonia(ammoniagas),hydrogensulfideWastewater: COD,ammonianitrogen(NH3-N),pH value,suspendedsolids,BOD5,animal andvegetableoil,coliformgroups,totalnitrogen (inN), totalphosphorus(in P)Indirectlydischarged1Southside ofthe plantCOD: 50mg/LNH3-N:5mg/LTP: 0.3mg/LpH: 6-8.5SS: 20mg/LTN: 20mg/LBOD5:10mg/LAnimal andvegetable oil:3mg/LColiformgroups: 10000/LEmissionstandardsfor odorpollutants(GB 14554-1993),Notice onApprovaland Releaseof theModification List to 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(L.Z.J.B.F.[2011] No.35),Dischargestandard ofwaterpollutantsfor meatpackingindustryCOD:11.6t/aNH3-N:1.16t/aTN:14t/aTP:0.63t/aCOD:11.6t/aNH3-N:1.16t/aTN:14t/aTP:0.63t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.85(GB 13457-1992) ,ComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(DB37/ 599－2006),Modification List toAdd TotalNitrogenLimit in 4StandardsincludingtheComprehensiveDischargeStandardsfor WaterPollutantsAlong theSouth-to-North WaterDiversionProject inShandongProvince(DB37/599-2006)FuxinLiuheFarmingCo., Ltd.FoodBranchGaspollutants,liquidpollutantsWaste gas:nitrogenoxides,fumeblackness,particulatematter,sulfurdioxide,ammonia(ammoniagas),hydrogensulfide,odorconcentrationWastewaterWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged3 (2forwastegas,1forwastewater)Wastegas:northwest andsouthside ofthe plantWastewater:westside ofthe plantCOD:300mg/LNH3-N:30mg/LpH: 6-8.5SS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LEmissionstandard ofairpollutantsfor boiler(GB 13271-2014),Emissionstandardsfor odorpollutants(GB 14554-1993)Dischargestandard ofwaterpollutantsfor meatCOD cr:78.61t/aNH3-N:7.86t/aCOD cr:78.61t/aNH3-N:7.86t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.86: COD,suspendedsolids,ammonianitrogen(NH3-N),pH value,BOD5,animal andvegetableoil,coliformgroupspackingindustry(GB 13457-1992) ,IntegratedWastewaterDischargeStandard(DB21/1627-2008)TaiqianNewHopeLiuheLuxinFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,particulatematter,nitrogenoxides,sulfurdioxide,RingelmanblacknessWastewater: COD,ammonianitrogen(NH3-N),totalphosphorus(in P), pHvalue,BOD5,suspendedsolids,animal andvegetableoil,coliformgroupsWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Wastegasemission outlet:at thesewagetreatment stationin thenorthwest cornerof theplant.Wastewaterdischarge outletNH3-N:150mg/m3SO2:50mg/m3Dust: 20mg/m3Benchmarkoxygencontent: 3.5%Fumeblackness:level 1Emissionstandard ofairpollutantsfor boiler(GB 13271-2014)HenanComprehensive BoilerImprovement Plan 2019Emissionstandardsfor odorpollutants(GB 14554-1993)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD:236t/a;NH3-N:2.3t/aNone NoneLaotingLiuheXinmeiziFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration;Wastewater: COD,Wastegas:directlydischarged aftertreatmentWastewater:indirectly3 (2forwastegas,1forwastewater)Wastegasemission outlet:sewagetreatment stationin thenorthwest cornerof theCOD:500mg/LNH3-N:45mg/LTP: 8mg/LpH: 6-8.5SS: 300mg/LTN: 70mg/LBOD5:250mg/LAnimal andEmissionstandardsfor odorpollutants(GB 14554-1993);Waterqualitystandardsfor sewagedischargedCOD:9.31t/aNH3-N:5.87t/aTN (inN):40.5t/aCOD:9.31t/aNH3-N:5.87t/aTN (inN):40.5t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.87ammonianitrogen,totalnitrogen,animal andvegetableoil,suspendedsolids, fecalcoliform,BOD5dischargedplant,andworkshops.Wastewaterdischarge outlet:sewagetreatment stationvegetable oil:50mg/Linto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,QixiaRefrigerationFactoryofShandongNewHopeLiuheGroupCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration;Wastewater: COD,ammonianitrogen,totalnitrogen,animal andvegetableoil,suspendedsolids, fecalcoliform,BOD5Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Wastegasdischarge outlet:sewagetreatment stationin thenortheast cornerof theplant,workshops.Wastewaterdischarge outlet:sewagetreatment stationCOD: 50mg/LNH3-N:5mg/LpH: 6-9Emissionstandardsfor odorpollutants(GB 14554-1993);Boiler AirPollutantEmissionStandards(DB37/2374-2018)ComprehensiveDischargeStandard ofWaterPollutants inShandongPeninsulaBasin(DB37/676-2007),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD:14.4t/aNH3-N:1.5t/aCOD:14.4t/aNH3-N:1.5t/aNoneLaiyangTianyeFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:odorconcentration,ammonia(ammoniagas),hydrogensulfide,sulfurdioxide,nitrogenWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarg2 (1forwastegas,1forwastewater)Wastegas:northside oftheplant,withinthe plantWastewater:westCOD: 30mg/l,NH3-N:1.5mg/l, TP:0.5mg/l, TN:15mg/l, pH6- 9Ultra-lowEmissionNo.2Modification List toShandongBoiler AirPollutantEmissionStandards(L.Z.J.B.F.[2016] No.COD cr:3.03t/aNH3-N:3.02t/aTotalnitrogen3.32t/aTotalphosphorus0.016t/aNone NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.88oxides,particulatematter,fumeblackness(Ringelmanblackness,level)Wastewater: COD,ammonianitrogen(NH3-N),pH value,suspendedsolids,BOD5,animal andvegetableoil,coliformgroups,totalnitrogen (inN)ed side ofthecompany46),Emissionstandardsfor odorpollutants(GB 14554-1993)ComprehensiveDischargeStandard ofWaterPollutants inShandongPeninsulaBasin(DB37/676-2007),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)Tai'anTaishanLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:nitrogenoxides,particulatematter,sulfurdioxide,hydrogensulfide,odorconcentration,RingelmanblacknessWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen,totalphosphorus,pH value,BOD5,suspendedsolids,animal andvegetableoil,Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged6 (5forwastegas,1forwastewater)Wastegas:westside ofthe plantof thecompany andinsidethecompanyWastewater:westside ofthe westgate tothecompanyCOD:350mg/LTN: 70mg/LNH3-N:45mg/LTP: 8mg/LpH: 6-8.5SS: 256mg/LBOD5:150mg/LAnimal andvegetable oil:50mg/LSulfurhydrogen:0.1mg/nm3Ammonia:2mg/nm3PM:10mg/nm3SO2:50mg/nm3NOx:100mg/nm3Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Emissionstandardsfor odorpollutants(GB 14554-1993),Modification List No.2to ShandongRegionalComprehensive AirPollutantCOD:533.05t/a;NH3-N:45.69t/aCOD:533.05t/a;NH3-N:45.69t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.89coliformgroups,anionicsurfactantEmissionStandards(DB/372376-2013)(L.Z.J.B.F.[2016] No.46), BoilerAirPollutantEmissionStandards(DB37/2374-2018)ShandongNewHopeLiuheGroupCo., Ltd.LinyiBranchGaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),hydrogensulfide,odorconcentration, sulfurdioxide,nitrogenoxides,particulatematter,RingelmanblacknessWastewater: COD, pHvalue,dissolvedtotal solids,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,BOD5,flow rate,animal andvegetableoil, totalcoliformgroups.Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged3 (2forwastegas,1forwastewater)Wastegas: eastside ofthecompany’s plantWastewater:southeast side ofthecompanyAmmonianitrogen45mg/lCOD 500mg/lTotalphosphorus8mg/lTotal nitrogen70mg/lBoiler AirPollutantEmissionStandards(DB37/2374-2018),Emissionstandardsfor odorpollutants(GB 14554-1993)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)COD cr:8.68t/aNH3-N:0.68t/aTotalphosphorus0.88t/aTotalnitrogen4.1t/aCOD cr:8.68t/aNH3-N:0.68t/aTotalphosphorus0.88t/aTotalnitrogen4.1t/aNoneQingdaoLiuheWanfuFood Co.,Ltd.Gaspollutants,liquidpollWaste gas:nitrogenoxides,sulfurdioxide,fume,RingelmanWastegas:directlydischarged aftertreatment7 (6forwastegas,1forwastewater)Wastegas:westside ofthe plantWastewater:Fume:1.5mg/Nm3COD:500mg/LNH3-N:45mg/LTN: 70mg/LBoiler AirPollutantEmissionStandards(DB37/2374-2018)ShandongCOD:18.45t/aNH3-N:1.75t/aPM:10.5t/aSO2:COD:18.45t/aNH3-N:1.75t/aPM:10.5t/aSO2:NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.90utantsblackness,ammonia(ammoniagas), odorconcentration, sulfurhydrogenWastewater: COD,ammonianitrogen(NH3-N),pH value,BOD5, totalnitrogen (inN), totalphosphorus(in P),suspendedsolids,animal andvegetableoil,coliformgroupsWastewater:discharged intoseweragetreatment plantaftertreatmentsouthwest sideof theplantpH: 6.5-9.5TP: 8mg/LSS: 400mg/LBOD5:350mg/LAnimal andvegetable oil:100mg/LNOx:200mg/Nm3SO2:50mg/Nm3Dust:10mg/Nm3EmissionStandardsfor CookingFume inCateringIndustry(DB37/ 597-2006)Emissionstandardsfor odorpollutants(GB 14554-1993),ComprehensiveEmissionStandardsfor RegionalAirPollutants(DB37/2376-2019),Comprehensive AirPollutantEmissionStandards(GB16279-1996)Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015)1.8t/aNOx:8.55t/a1.8t/aNOx:8.55t/aFenxiNewHopeLiuheFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:nitrogenoxides,particulatematter,sulfurdioxide,hydrogensulfide,odorconcentration,RingelmanblacknessWastewater: COD,ammoniaWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged4 (3forwastegas,1forwastewater)Wastegas: 9 atfeedplant,1atsouthwest of thefactoryWastewater:sewagetreatment stationCOD: 40mg/LTN: 2mg/LNH3-N:2mg/LTP: 0.4mg/LpH: 6-9SS: 100mg/LBOD5:10mg/LAnimal andvegetable oil:20mg/LPhosphates:1mg/LSulfurhydrogen:0.06mg/nm3Ammonia:Environmental qualitystandardsfor surfacewater (GB3838-2002),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)IntegratedwastewaterdischargeCOD:2.90t/aNH3-N:0.70t/aCOD:2.90t/aNH3-N:0.70t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.91nitrogen,totalnitrogen,totalphosphorus,pH value,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,flow rate,temperature,phosphatesNoise: Leq1.5mg/nm3PM: 1mg/nm3Odor cr: 20(dimensionless)SO2:35mg/nm3NOx:50mg/nm3PM: 5mg/nm3Ringelmanblackness ≤1PM:120mg/nm33.5kg/hLeq: daytime60dB(A)Nighttime50dB(A)standard(GB 8978-1996)Table 3 GasBoilerStandard ofBoiler AirPollutantEmissionStandards(DB14/1929-2019)Table 1Level-2Standard ofEmissionstandardsfor odorpollutants(GB 14554-1993)(GB14554-93)Comprehensive emissionstandard ofairpollutants(GB 16297-1996),Emissionstandard forindustrialenterprisesnoise atboundary(GB 12348-2008)LinyiLiuheHongchenFarmingCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas),particulatematter,fumeblackness(Ringelmanblackness,level),sulfurdioxide,nitrogenoxides,odorconcentration, sulfurhydrogen,Wastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged2 (1forwastegas,1forwastewater)Wastegas: eastside ofthe plantWastewater:westside ofthe plantCOD:500mg/LTN: 70mg/LNH3-N:45mg/LTP: 8mg/LpH: 6-8.5SS: 300mg/LBOD5:250mg/LAnimal andvegetable oil:50mg/LBoiler AirPollutantEmissionStandards(DB37/2374-2018)Emissionstandardsfor odorpollutants(GB 14554-1993)Waterqualitystandardsfor sewagedischargedinto urbansewersCOD:1.7t/a;NH3-N:0.3t/aNotapplicableNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.92RingelmanblacknessCOD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P), pHvalue, pHvalue,suspendedsolids,animal andvegetableoil, BOD5,fecalcoliforms(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)PingyiLiuheFadaFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:nitrogenoxides,particulatematter,sulfurdioxide,hydrogensulfide,odorconcentration,RingelmanblacknessWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen,totalphosphorus,pH value,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,anionicsurfactantWastegas:directlydischarged aftertreatmentWastewater:directlydischarged aftertreatment3 forwastegas,1forwastewaterWastegas:westside ofthe plantof thecompany andinsidethecompanyWastewater:southwestsewagetreatment stationoutsidethecompanyCOD: 30mg/LTN: 15mg/LNH3-N:1.5mg/LTP: 0.3mg/LpH: 6-9SS: 20mg/LBOD5:10mg/LAnimal andvegetable oil:20mg/LSulfurhydrogen:0.1mg/nm3Ammonia:2mg/nm3PM:10mg/nm3SO2:50mg/nm3NOx:100mg/nm3Emissionstandardsfor odorpollutants(GB 14554-1993);Boiler AirPollutantEmissionStandards(DB37/2374-2018)ComprehensiveDischargeStandardsfor WaterPollutants inShu RiverWatershed(DB37/3416.2-2018)COD:11.49t/a;NH3-N:0.57t/aTN:10.13t/aTP:0.2t/aCOD:11.49t/a;NH3-N:0.57t/aTN:10.13t/aTP:0.2t/aNoneBeijingKingheyFood Co.,GaspollutanWaste gas:hydrogensulfide,Wastegas:directly4 (3forwasteWastegasemissioNon-methanehydrocarbon(chemicalComprehensiveDischargeCOD:0.483753t/a;COD:0.483753t/a;NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.93Ltd. ts,liquidpollutantsodorconcentration,ammonia(ammoniagas),particulatematter, non-methanetotalhydrocarbons, fume,sulfurdioxide,nitrogenoxides,RingelmanblacknessWastewater: pH value,COD,BOD5,suspendedsolids,ammonianitrogen(NH3-N),animal andvegetableoil, totalphosphorus(in P), totalnitrogen (inN),coliformgroupsdischarged aftertreatmentWastewater:indirectlydischargedgas,1forwastewater)n outlet:canteen,chemicalproductionworkshopWastewaterdischarge outlet:southside ofthesewagetreatment stationproductionworkshop):50mg/m3Non-methanehydrocarbon:10mg/m3;Fume:1mg/Nm3;PM10:5mg/Nm3COD: 50 ㎎/L, NH3-N:15㎎/L, TP: 5㎎ /L, TN: 13㎎/LStandard ofWaterPollutants(DB11/ 307-2013)ComprehensiveEmissionStandards ofAirPollutants(DB11/ 501-2017)CateringIndustryFumeEmissionStandards(Tentative)(GB18483-2001)NH3-N:0.017548t/aNH3-N:0.017548t/aHebeiKingheyMeatIndustryCo., Ltd.Gaspollutants,liquidpollutantsWaste gas:hydrogensulfide,ammonia(ammoniagas), odorconcentration, non-methanetotalhydrocarbons,particulatematter,nitrogenoxides,sulfurdioxideWastewater: COD,ammonianitrogen,Indirectlydischarged6 (5forwastegas,1forwastewater)Wastegasemission outlet:canteen,chemicalproductionworkshop,waitingpens,desliming room,flotationtankNorthside ofthesewageOdor: 2000Non-methanehydrocarbon(chemicalproductionworkshop):80mg/Nm3COD: 120 ㎎/L, NH3-N:25㎎/L, TP: 8㎎ /L, TN: 55㎎ /L, BOD:60mg/L, SS:120mg/LComprehensiveDischargeStandard ofWaterPollutants(DB11/ 307-2013)VolatileOrganicCompoundsEmissionStandardsforIndustrialEnterprises(DB13/2322-2016)EmissionstandardsCOD:23.63t/a;NH3-N:2.29t/aCOD:23.63t/a;NH3-N:2.29t/aNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.94totalnitrogen,totalphosphorus,pH value,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,phosphatetreatment stationfor odorpollutants(GB 14554-1993)LiaoningKingheyFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:ammonia(ammoniagas), odorconcentration, sulfurdioxide,hydrogensulfide,nitrogenoxides,particulatematterWastewater: COD,ammonianitrogen(NH3-N),totalnitrogen (inN), totalphosphorus(in P), pHvalue,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,flow rateWastegas:directlydischarged aftertreatmentWastewater:indirectlydischarged1Outletof thesewagetreatment station(northeast cornerof theplant)COD: 300 ㎎/L, NH3-N:30㎎/L, TP: 5㎎ /L, TN: 50㎎ /L, BOD:250mg/L, SS:300mg/LIntegratedWastewaterDischargeStandard(DB21/1627-2008)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)Emissionstandardsfor odorpollutants(GB 14554-1993),Comprehensive emissionstandard ofairpollutants(GB 16297-1996),COD:462t/a;NH3-N:46.2t/aCOD:462t/a;NH3-N:46.2t/aNoneChengduHopeFood Co.,Ltd.Gaspollutants,liquidpollutantsWastewater:COD,BOD5,ammonianitrogen,totalphosphorus,totalnitrogen,suspendedWastewater:discharged intourbansewagetreatment plantaftertreatment4Wastegasemission outlet:east sideof thelow-temperatureplant,southweCOD:500mg/LNH3-N:45mg/LTN: 70mg/LpH: 6.0-8.5TP: 8mg/LSS: 400mg/LBOD5:300mg/LAnimal andEmissionstandard ofairpollutantsfor boiler(GB 13271-2014)Waterqualitystandardsfor sewageCOD:11.9t/aTN:6.3t/aNH3-N:3.7t/aTP:0.3t/aNOx:0.7t/aNone NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.95solids, pH,animal andvegetableoil,coliformgroupsWaste gas:nitrogenoxides,sulfurdioxide,particulatematter,Ringelmanblackness,hydrogensulfide,ammonia,odorWastegas:directlydischargedst sideof thehigh-temperature plantWastewaterdischarge outlet:southwest sideof thelow-temperatureplant,southside ofthehigh-temperature plantvegetable oil:60mg/LRingelmanblackness:level 1NOx:150mg/Nm3SO2:50mg/Nm3PM:20mg/Nm3dischargedinto urbansewers(GB/T31962-2)Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992)SO2:0.2t/aShandongKingheyFood Co.,Ltd.Gaspollutants,liquidpollutantsWaste gas:hydrogensulfide,ammonia(ammoniagas), odorconcentrationWastewater: COD,ammonianitrogen,totalnitrogen,totalphosphorus,pH value,BOD5,suspendedsolids,animal andvegetableoil,coliformgroups,phosphateIndirectlydischarged5 (4forwastegas,1forwastewater)Wastegasemission outlet:chemicalproductionworkshop,waitingpens,desliming room,singeingoven,flotationtankNorthwest sideof thesewagetreatment stationCOD:500mg/LNH3-N:45mg/LTN: 70mg/LpH: 6.0-8.5TP: 8mg/LSS: 400mg/LBOD5:300mg/LAnimal andvegetable oil:60mg/LOdor cr: 2000Ammonia: 4.9mg/Nm3Sulfurhydrogen:0.33mg/Nm3Waterqualitystandardsfor sewagedischargedinto urbansewers(GB/T31962-2015),Dischargestandard ofwaterpollutantsfor meatpackingindustry(GB 13457-1992) ,Emissionstandardsfor odorpollutants(GB 14554-1993)COD:581.3t/a;NH3-N:46.5t/aCOD:581.3t/a;NH3-N:46.5t/aNoneTreatment of pollutantsPollutant treatmentWastewater Discharged after treatment in sewage treatment systemWaste gas Spray and biological deodorizationContingency Plan for Environmental EmergenciesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.96Company name Filed or not Filing authorities Filing number TimeLinyi Liuhe Food Co., Ltd. FiledLinyi CountyEnvironmentalProtection Bureau3711424-2019-037-LNov.12,2019Lanling New Hope LiuheHongjun Food Co., Ltd. FiledLanling CountyEnvironmentalProtection Bureau371327-2019-03-LMar.4,2019Pingyi Refrigeration Factory ofShandong New Hope LiuheGroup Co., Ltd.FiledPingyi CountyEnvironmentalProtection Bureau371326-2022-21-LJun.27,2022Qingdao Tianrun Food Co., Ltd. FiledPingduEnvironmentalProtection Bureau370283-20201026-401-MOct.26,2020Yishui New Hope Liuhe FoodCo., Ltd. FiledYishuiEnvironmentalProtection Bureau371323-2022-113-MNov.10,2022Guantao Liuhe Food Co., Ltd. FiledHadan Ecology andEnvironmentBureau GuantaoBranch130433-2023-003-LJan.4,2023Binzhou Liuhe Longda FarmingCo., Ltd. FiledBinzhouEnvironmentalProtection Bureau371602-2019-0001-LJan.4,2019Wudi Liuhe Xinyang Food Co.,Ltd. In progressBinzhou Ecologyand EnvironmentBureau WudiBranch371623-2019-030-LOct.9,2019 (expired andrefiled)Zouping Liuhe Livestock Co.,Ltd. FiledZouping CountyEnvironmentalProtection Bureau371626-2016-084-LDec.5,2019Shan County Liuhe Feed Co.,Ltd. Food Branch FiledHeze Ecology andEnvironmentBureau ShanCounty Branch371722-2020-017-MJul.22,2020Cao County Liuhe Food Co.,Ltd. In progressCao CountyEnvironmentalProtection Bureau/No filing, not required bylocal environmentalprotection bureauJiaxiang New Hope Liuhe FoodCo., Ltd. FiledJiaxiang CountyEnvironmentalProtection Bureau370829-2021-106-MDec.20,2021Yuncheng Liuhe Food Co., Ltd. FiledYuncheng CountyEnvironmentalProtection Bureau371725-2019-022-LDec.25,2019Anshan Liuhe Food Co., Ltd. FiledAnshan Ecologyand EnvironmentBureau Tai'anBranch210321-2020-036-LSept.29,2020Panjin Liuhe Farming Co., Ltd. FiledPanjin DawaDistrictEnvironmentalProtection Bureau211121-2020-6-LApr.20,2020Dong’e Liuhe Lvjia Food Co.,Ltd. FiledDong’e CountyEnvironmentalProtection Bureau371524-2021-067-MDec.28,2021Shen County New Hope LiuheQingsizhai Food Co., Ltd. FiledShen CountyEnvironmentalProtection Bureau3715222-2022-049-LMay 20,2022Yanggu Liuhe Luxin Food Co.,Ltd. FiledYanggu CountyEnvironmentalProtection Bureau371521-2023-009-LMar.1,2023Weifang Tianhui Food Co., Ltd. FiledShouguangEnvironmentalProtection Bureau370783-2021-078-LFeb.4,2021Weifang Heshengyuan FoodCo., Ltd. FiledAnqiuEnvironmentalProtection Bureau370784-2018-045-LOct.24,2018Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.97Luoyang Liuhe Huiquan FoodCo., Ltd. FiledLuoyangEnvironmentalProtection Bureau410381-2020-11-LMay 28,2020Hebi Liuhe Zhizhen Food Co.,Ltd. FiledEnvironmentalEmergencyResponseHeadquarters ofHebi EnvironmentalProtection Bureau4106212021029LAug.10,2021Laiwu New Hope Liuhe FoodCo., Ltd. FiledLaiwu Bureau forConstruction andDevelopment ofAgricultural High-tech IndustryDemonstration Zone371202=2022-051-MApr.7,2022Dezhou Liuhe Zhikang FoodCo., Ltd. FiledDezhou Ecologyand EnvironmentBureau LingchengBranch3714212019023LNov.20,2019Fei County Liuhe Huahai FoodCo., Ltd. FiledFei CountyEnvironmentalProtection Bureau371325-2021-12-HApr.13,2021Fuxin Liuhe Farming Co., Ltd.Food Branch FiledFuxinEnvironmentalProtection Bureau210904-2022-02-LJan.24,2022Taiqian New Hope Liuhe LuxinFood Co., Ltd. FiledTaiqian CountyEnvironmentalProtection Bureau4109272020048LDec.23,2020Laoting Liuhe Xinmeizi FoodCo., Ltd. FiledTangshanEnvironmentalProtection BureauLaoting CountyBranch130225-2021-025-LApr.20,2021Qixia Refrigeration Factory ofShandong New Hope LiuheGroup Co., Ltd.FiledQixiaEnvironmentalProtection Bureau370686-2018-067-MAug.1,2018Laiyang Tianye Food Co., Ltd. FiledLaiyangEnvironmentalProtection Bureau370682-2021-23-LMar.16,2021Tai'an Taishan Liuhe Food Co.,Ltd. In progress / / Prepared, filing in progressShandong New Hope LiuheGroup Co., Ltd. Linyi Branch FiledHedong DistrictEnvironmentalProtection Bureau4109272020048LDec.23,2020Qingdao Liuhe Wanfu Food Co.,Ltd. FiledQingdao Ecologyand EnvironmentBureau LaixiBranch3702852031124LMay 12,2021Fenxi New Hope Liuhe FoodCo., Ltd. FiledLinfen Ecology andEnvironmentBureau FensiBranch4109272020048LDec.23,2020Pingyi Liuhe Fada Food Co.,Ltd. FiledLinyiEnvironmentalProtection Bureau371326-2022-027-LJul.15,2022Linyi Liuhe Hongchen FarmingCo., Ltd. FiledLanshan DistrictEnvironmentalProtection Bureau1302-2019-078-LDec.10,2019Beijing Kinghey Food Co., Ltd. FiledPinggu DistrictEcology andEnvironmentBureau110117-2021-025LDec.15,2021Hebei Kinghey Meat IndustryCo., Ltd. FiledNangongEnvironmentalProtection Bureau130581-2022-5006-LJul.25,2022Liaoning Kinghey Food Co., Filed Shenyang 210113-2020-196-MSept.15,2020Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.98Ltd. EnvironmentalProtection BureauPuhe New TownBranchChengdu Hope Food Co., Ltd. FiledChengdu XinjinDistrict Ecologyand EnvironmentBureau5101322020047LJun.3,2020Shandong Kinghey Food Co.,Ltd. FiledXiajin CountyEnvironmentalProtection Bureau371427-2022-040-LFeb.25,2023Hebei Kinghey Meat IndustryCo., Ltd. FiledNangongEnvironmentalProtection Bureau130581-2022-5006-LJul.25,2022Input in environmental governance and protection and payment of environmental protection taxesThe company has played an important role in preventing and controlling pollution and protecting the environment bystrengthening environmental governance and reducing pollutant emissions. In the first half of 2023, the company invested a totalof 10.78 million yuan in environmental governance and protection and paid 830,000 yuan of environmental protection tax for pigbusiness,190,000 yuan for poultry business,110,000 yuan for food business, and 680,000 yuan for feed business.Environmental self-monitoring programmeCompanynameMonitoring siteMonitoreditemMonitoringmethodMonitoringfrequencyStandards adopted Emissionlimit Analytic methodsSource ofmethodLinyiLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Agreements withsewage treatmentplants450mg/LDichromate process HJ 828-2017Totalnitrogen50mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen35mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus6mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter200mg/LGravimetric method GB11901-89BOD5120mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce permonthEmission standardof air pollutants forboiler (GB 13271-2014), Boiler AirPollutant EmissionStandards150mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014SulfideOnce peryear 50mg/Nm3Non-dispersiveinfrared absorption HJ 629-2011Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.99(DB37/2374- 2018)dioxidemethodDust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993LanlingNewHopeLiuheHongjunFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursNotice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)50mg/LDichromate process HJ 828-2017Totalnitrogen20mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen5mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus0.3mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth20mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil3mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce permonthBoiler Air PollutantEmission Standards(DB37/ 2374-2018)200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryodorOdorconcentrationManualmonitoriOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)20 Triangle odor bagmethodGB/T14675- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.100ngAmmonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993PingyiRefrigerationFactory ofShandongNewHopeLiuheGroup Co.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter200mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce permonthBoiler Air PollutantEmission Standards(DB37/ 2374-2018)200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993QingdaoSewageCODOnlineOnce per2 hoursPeninsula Basin(DB37/3416.5-40mg/LDichromate process HJ 828-2017Total 20mg/LFlow injection- HJ 668-2013Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.101TianrunFoodCo.,Ltd.treatmentstationdischargeoutletmonitoring2018), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)nitrogennaphthaleneethylenediaminehydrochloridespectrophotometryAmmonianitrogen2mg/LNessler’s reagentspectrophotometry HJ535-2009Phosphate 1000mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth30mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil5mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce perhalf ayearBoiler Air PollutantEmission Standards(DB37/2374-2018),100mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Preparedproduct andcanteenoutletDyeingandfinishingfumeManualdetectionOnce perhalf ayearCatering IndustryFume EmissionStandards(DB37/597-2006)2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Comprehensiveemission standardof air pollutants(GB 16297-1996),20(dimensionless)Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993XiaoyiNewHopeLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per4 hoursEnvironmentalquality standardsfor surface water(GB 3838-2002),Discharge standardof pollutants formunicipalwastewatertreatment plant (GB18918-2002)40mg/LDichromate process HJ 828-2017Ammonianitrogen2.0mg/LNessler’s reagentspectrophotometry HJ535-2009pHManualmonitoringOnce permonth6-9 Glass electrodemethod GB 6920-1986Suspendedsolids10mg/LGravimetric method GB11901-89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.102BOD510mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil1mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups1000/LMulti-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce perhalf ayearEmission standardof air pollutants forboiler (GB 13271-2014),Comprehensiveemission standardof air pollutants(GB 16297-1996),150mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007OdortreatmentoutletOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993Yishui NewHopeLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986Suspe Man Once per 200mg/LGravimetric method GB11901-89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.103ndedsolidsualmonitoringquarterBOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993GuantaoLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hours Discharge standardof pollutants formunicipalwastewatertreatment plant (GB18918-2002),Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992) ,Standards forirrigation waterquality (GB 5084-2005)50mg/LDichromate process HJ 828-2017Totalnitrogen15mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen5mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus0.5mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-9 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth10mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil1mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxides Once peryearEmission standardof air pollutants forboiler (GB 13271-2014)200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust Once permonth 10mg/Nm3 Gravimetric method HJ/T 398-2007Odor Odor Once per Emission standards 2000 Triangle odor bag GB/T14675-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.104treatmentoutletconcentrationhalf ayearfor odor pollutants(GB 14554-1993),method 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993CanteenfumeoutletFumeCatering IndustryFume EmissionStandards(GB18483-2001),2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001BoundaryodorOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993BinzhouLiuheLongdaFarmingCo.,Ltd.SewagetreatmentstationdischargeoutletCODManualmonitoringOnce perhalf ayearWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986Suspendedsolids400mg/LGravimetric method GB11901-89BOD5300mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil60mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012OdortreatmentoutletOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogen 0.33kg/hGaschromatographyGB/T14678- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.105sulfideBoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993WudiLiuheXinyangFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012OdortreatmentoutletOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfid0.06mg/Nm3GaschromatographyGB/T14678- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.106eZoupingLiuheLivestockCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009pHManualmonitoringOnce perhalf ayear6-8.5 Glass electrodemethod GB 6920-1986Suspendedsolids300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoundaryodorOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993ShanCountyLiuheFeedCo.,Ltd.FoodBranchSewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)Notice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35),Notice on Approvaland Release of theModification List toAdd Total SaltContent Index500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen21mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Totalsaltcontent1600mg/LGravimetric method HJ/T 51-1999Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.107Limit in 4Standards includingthe ComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2014]No.7)BoilerdischargeoutletNitrogenoxidesOnce perhalf ayearBoiler Air PollutantEmission Standards(DB37/2374-2018,Ultra-low EmissionNo.2 ModificationList to ShandongBoiler Air PollutantEmission Standards(L.Z.J.B.F. [2016]No.46),Comprehensiveemission standardof air pollutants(GB 16297-1996)100mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007OdortreatmentoutletOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993CaoCountyLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)300mg/LDichromate process HJ 828-2017AmmonianitrogenManualmonitoringOnce perhalf ayear21mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986Suspended 300mg/LGravimetric method GB11901-89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.108solidsBOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups/Multi-tubefermentation andfiltration membraneHJ637-2012BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993JiaxiangNewHopeLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Water qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)Integratedwastewaterdischarge standard(GB 8978-1996)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pHManualmonitoring1 timesa day 6-8.5Glass electrodemethod GB 6920-1986SuspendedsolidsOnce perquarter200mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups/Multi-tubefermentation andfiltration membraneHJ637-2012OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Comprehensiveemission standardof air pollutants(GB 16297-1996)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfid0.33kg/h GaschromatographyGB/T14678- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.109eBoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993YunchengLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Water qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)Integratedwastewaterdischarge standard(GB 8978-1996)60mg/LDichromate process HJ 828-2017Totalnitrogen20mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen10mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pHManualmonitoring1 timesa day 6-8.5Glass electrodemethod GB 6920-1986SuspendedsolidsOnce perquarter30mg/LGravimetric method GB11901-89BOD520mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil5mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesOnce perhalf ayearBoiler Air PollutantEmission Standards(DB37/ 2374-2018),Comprehensiveemission standardof air pollutants(GB 16297-1996)100mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007AnshanLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursIntegratedWastewaterDischarge Standard(DB 21/1627-2008)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)Water quality300mg/LDichromate process HJ 828-2017Ammonianitrogen30mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonOnce perquarter 300mg/LGravimetric method GB11901-89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.110standards forsewage dischargedinto urban sewers(GB/T 31962-2015)itoringBOD5250mg/LDilution andinoculation method HJ505-2009Totaldissolvedsolids2000mg/LWater quality testmethods andstandards for urbansewageCJ/T 51Coliformgroups10000/LWater quality testmethods andstandards for urbansewageCJ/T 51BoilerdischargeoutletNitrogenoxidesOnce permonthEmission standardof air pollutants forboiler (GB 13271-2014),Comprehensiveemission standardof air pollutants(GB 16297-1996)400mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Mercuryanditscompounds0.05mg/Nm3Cold atomicabsorptionspectrometryHJ 543-2009Sulfidedioxide400mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 80mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993Particulatematter1mg/Nm3 Gravimetric method GB/T 15432-1995PanjinLiuheFarmingCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hours IntegratedWastewaterDischarge Standard(DB 21/1627-2008), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992) ,50mg/LDichromate process HJ 828-2017Ammonianitrogen8mg/LNessler’s reagentspectrophotometry HJ535-2009Totalnitrogen15mg/LGas-PhasemolecularabsorptionspectrometryHJ/T 199-2005pH 6-8.5 Glass electrodemethod GB 6920-1986Suspendedsolids ManualmonitoringOnce permonth20mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Totaldissolvedsolids2000mg/LWater quality testmethods andstandards for urbansewageCJ/T 51Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.111Animal andvegetableoil20mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LWater quality testmethods andstandards for urbansewageCJ/T 51BoilerdischargeoutletNitrogenoxidesEmission standardof air pollutants forboiler (GB 13271-2014),400mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Mercuryanditscompounds0.05mg/Nm3Cold atomicabsorptionspectrometryHJ 543-2009Sulfidedioxide400mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 80mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993Particulatematter1mg/Nm3 Gravimetric method GB/T 15432-1995Dong’eLiuheLvjiaFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODManualmonitoringOnce perquarterNotice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)60mg/LDichromate process HJ 828-2017Ammonianitrogen10mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986Suspendedsolids30mg/LGravimetric method GB11901-89BOD520mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil5mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LMulti-tubefermentation andfiltration membraneHJ637-2012Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.112OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Notice on theImplementation ofSpecial EmissionLimits of AirPollutants inBeijing-Tianjin-Hebei Air PollutionTransmissionChannel Cities(Ministry ofEnvironmentalProtection NoticeNo.9,2018)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993ShenCountyNewHopeLiuheQingsizhaiFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater PollutantDischargeStandards for DownIndustry (GB21901-2008)Notice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)60mg/LDichromate process HJ 828-2017Ammonianitrogen10mg/LNessler’s reagentspectrophotometry HJ535-2009pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth30mg/LGravimetric method GB11901-89BOD515mg/LDilution andinoculation method HJ505-2009Anionicsurfactant3mg/LMethylene bluespectrophotometricmethod/Animal andvegetableoil5mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LMulti-tubefermentation andfiltration membraneHJ637-2012OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Modification ListNo.2 to ShandongRegionalComprehensive AirPollutant EmissionStandards(DB/372376-2013)(L.Z.J.B.F. [2016]No.46)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Particulatematter10mg/Nm3 Gravimetric method GB/T 15432-1995Hydr 0.33kg/h Gas GB/T14678-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.113ogensulfidechromatography 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993YangguLiuheLuxinFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater PollutantDischargeStandards for DownIndustry (GB21901-2008)Notice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)50mg/LDichromate process HJ 828-2017Ammonianitrogen5mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus0.3mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 667-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth20mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Anionicsurfactant3mg/LMethylene bluespectrophotometricmethod/Animal andvegetableoil3mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Modification ListNo.2 to ShandongRegionalComprehensive AirPollutant EmissionStandards(DB/372376-2013)(L.Z.J.B.F. [2016]No.46)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Particulatematter10mg/Nm3 Gravimetric method GB/T 15432-1995Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.114Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993WeifangTianhuiFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Water qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalnitrogen70mg/LGas-PhasemolecularabsorptionspectrometryHJ/T 199-2005Totalphosphorus8mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 667-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Anionicsurfactant20mg/LMethylene bluespectrophotometricmethod/Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012DuckfeatherworkshopParticulatematterOnce perhalf ayearComprehensiveEmission Standardsof Regional AirPollutants inShandong Province(DB37/ 2376-2013), Emissionstandards for odorpollutants (GB14554-1993),Boiler Air PollutantEmission Standards(DB37/2374- 2018)30mg/Nm3 Gravimetric method GB/T 15432-1995BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993WeifangHeshengyuanFoodSewagetreatmentstationCODOnlinemonitoringOnce perhourDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Water quality500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Total 70mg/LGas-Phase HJ/T 199-2005Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.115Co.,Ltd.dischargeoutletstandards forsewage dischargedinto urban sewers(GB/T 31962-2015)nitrogenmolecularabsorptionspectrometryTotalphosphorus8mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 667-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012CanteenoutletFumeOnce perhalf ayearComprehensiveEmission Standardsof Regional AirPollutants inShandong Province(DB37/ 2376-2013), Emissionstandards for odorpollutants (GB14554-1993),Boiler Air PollutantEmission Standards(DB37/2374- 2018)2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001OdortreatmentoutletOdorconcentration2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)8.7kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.58kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993LuoyangLiuheHuiquanFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hours Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992) ,Integratedwastewaterdischarge standard(GB 8978-1996)70mg/LDichromate process HJ 828-2017Ammonianitrogen15mg/LNessler’s reagentspectrophotometry HJ535-2009pHManualmonitoringOnce permonth6-8.5 Glass electrodemethod GB 6920-1986Totalphosphorus0.5mg/LAmmoniummolybdatespectrophotometryHJ 670-2013Suspendedsolids60mg/LGravimetric method GB11901-89BOD 25mg/LDilution and HJ505-2009Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.1165 inoculation methodAnimal andvegetableoil15mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012CanteenventFumeOnce perhalf ayearCatering IndustryFume EmissionStandards2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001BoundaryodorOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993)20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993HebiLiuheZhizhenFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992) ,Integratedwastewaterdischarge standard(GB 8978-1996),concentration limitsspecified in sewagedischargeagreements350mg/LDichromate process HJ 828-2017Ammonianitrogen35mg/LNessler’s reagentspectrophotometry HJ535-2009pHManualmonitoringOnce permonth 6-8.5Glass electrodemethod GB 6920-1986TotalphosphorusOnce perday 4mg/LAmmoniummolybdatespectrophotometryHJ 670-2013SuspendedsolidsOnce permonth60mg/LGravimetric method GB11901-89BOD525mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil15mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups5000/LMulti-tubefermentation andfiltration membraneHJ637-2012CanteenventFumeOnce perhalf ayearCatering IndustryFume EmissionStandards2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001BoundaryodorOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993)20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.117LaiwuNewHopeLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalnitrogen70mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 668-2013pH 6.5-9.5 Glass electrodemethod GB 6920-1986Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 670-2013SuspendedsolidsManualmonitoringOnce perquarter400mg/LGravimetric method GB11901-89BOD5350mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil100mg/LInfraredspectrophotometry HJ 637-2012BoilerexhauststackNitrogenoxidesOnce perhalf ayearUltra-low EmissionNo.2 ModificationList to ShandongBoiler Air PollutantEmission Standards(L.Z.J.B.F. [2016]No.46)200mg/Nm3 Controlled potentialelectrolysis HJ 693-2014Sulfidedioxide50mg/Nm3 Iodometry HJ/T 56-2000Dust 10mg/Nm3 Boiler dust testmethod GB 5468-91OdortreatmentoutletOdorconcentrationEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993DezhouLiuheZhikangFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODManualmonitoringOnce perhalf ayearWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalnitrogen70mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 668-2013pH 6.0-8.5 Glass electrodemethod GB 6920-1986Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 670-2013Suspendedsolids300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.118Coliformgroups/Multi-tubefermentation andfiltration membraneHJ637-2012Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012BoilerexhauststackRingelmanblacknessOnce peryearBoiler Air PollutantEmission Standards(DB37/ 2374-2018), BEmissionstandard of airpollutants for boiler(GB 13271- 2014),Level 1 Ringelmanblackness chart HJ/T 398-2007Nitrogenoxides150mg/Nm3 Controlled potentialelectrolysis HJ 693-2014Sulfidedioxide50mg/Nm3 Iodometry HJ/T 56-2000Dust 10mg/Nm3 Boiler dust testmethod GB 5468-91OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993FeiCountyLiuheHuahaiFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursNotice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35),Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)ComprehensiveDischargeStandards for WaterPollutants Alongthe South-to-NorthWater DiversionProject in ShandongProvince (DB37/599-2006)50mg/LDichromate process HJ 828-2017Ammonianitrogen5mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus0.3mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 667-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth20mg/LGravimetric method GB11901-89Totalnitrogen20mg/LGas-PhasemolecularabsorptionspectrometryHJ/T 199-2005BOD510mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil3mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LMulti-tubefermentation andfiltration membraneHJ637-2012Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.119Modification List toAdd Total NitrogenLimit in 4Standards includingthe ComprehensiveDischargeStandards for WaterPollutants Alongthe South-to-NorthWater DiversionProject in ShandongProvince(DB37/599-2006)BoundaryodorOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993FuxinLiuheFarmingCo.,Ltd.FoodBranchSewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992) ,IntegratedWastewaterDischarge Standard(DB 21/ 1627-2008)300mg/LDichromate process HJ 828-2017Ammonianitrogen30mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus5mg/LAmmoniummolybdatespectrophotometryTotalnitrogen50mg/LSpectrophotometrypH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups/ Fermentationmethod GB5750BoilerdischargeoutletNitrogenoxidesOnce permonthEmission standardof air pollutants forboiler (GB 13271-2014),200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 20mg/Nm3 Gravimetric method HJ/T 398-2007RingelmanblacknessLevel 1 Ringelmanblackness chart HJ/T 398-2007Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.120OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993BoundaryodorOdorconcentration20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993TaiqiancountyNewHopeLiuheLuxinFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per6 hoursWater PollutantDischargeStandards for DownIndustry (GB21901-2008)Notice on Approvaland Release of theModification List to4 Standardsincluding theComprehensiveDischargeStandards forWater PollutantsAlong the South-to-North WaterDiversion Projectin ShandongProvince(L.Z.J.B.F. [2011]No.35)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)500mg/LDichromate process HJ 828-2017Ammonianitrogen25mg/LNessler’s reagentspectrophotometry HJ 535-2009Totalphosphorus8mg/LNaphthaleneethylenediaminehydrochloridespectrometryGB/T 16488- 1996pHUpper limit8.5dimensionless, lowerlimit: 6dimensionlessGlass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce permonth300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Totalnitrogen45mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ 636-2012Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000mg/LMulti-tubefermentation andfiltration membraneHJ637-2012BoilerexhausttreatmentRingelmanblacknessOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Modification ListNo.2 to ShandongRegional1mg/Nm3 Ringelmanblackness chart HJ/T 398-2007Nitrogen 30mg/Nm3Naphthaleneethylenediamine HJ/T 43-1999Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.121dischargeoutletComprehensive AirPollutant EmissionStandards(DB/372376-2013)(L.Z.J.B.F. [2016]No.46)oxideshydrochloridespectrometryParticulatematter5mg/Nm3Determination ofparticulate matter instationary pollutionsource emissionsand samplingmethod for gaseouspollutantsGB/T 16157- 1996Sulfidedioxide10mg/Nm3 Iodometry HJ/T 56-2000SewagetreatmentstationdischargeoutletOdorconcentration2000mg/Nm3Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993LaotingLiuheXinmeiziFoodCo.,Ltd.SewagetreatmentstationdischargeoutletTotalnitrogenOnlinemonitoringOnce per6 hoursDischarge standardof pollutants formunicipalwastewatertreatment plant (GB18918-2002)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)70mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ 636-2012pH6-8.5(dimensionless)Glass electrodemethodGB/T 6920- 1986Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ 535-2009COD 500mg/LDichromate process HJ 828-2017BOD5ManualmonitoringOnce permonth250mg/LDilution andinoculation method HJ 505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2018Suspendedsolids300mg/LGravimetric method GB/T 11901-1989Fecalcoliforms10000/LMulti-tubefermentation HJ 347.2-2018Waste gasoutletofsewagetreatmentstationAmmonia(ammoniagas)Once perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),4.9kg/h Nessler’s reagentspectrophotometry HJ 533-2009Hydrogensulfide0.33kg/hMethylene bluespectrophotometricmethodSupplement5.4.10.3 of theFourth Editionof Air andExhaust GasMonitoring andAnalysisMethodsOdorconce2000(dimensionlTriangle odor bagmethodGB/T 14675- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.122ntrationess)DischargeoutletofslaughteringworkshopAmmonia(ammoniagas)4.9kg/h Nessler’s reagentspectrophotometry HJ 533-2009Hydrogensulfide0.33kg/hMethylene bluespectrophotometricmethodSupplement5.4.10.3 of theFourth Editionof Air andExhaust GasMonitoring andAnalysisMethodsOdorconcentration2000(dimensionless)Triangle odor bagmethodGB/T 14675- 1993QixiaRefrigerationFactory ofShandongNewHopeLiuheGroup Co.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per1 hoursDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)50mg/LDichromate process HJ 828-2017Ammonianitrogen5mg/LNessler’s reagentspectrophotometry HJ 668-2013pH 6--9 Glass electrodemethod HJ535-2009SuspendedsolidsManualmonitoringOnce perquarter60mg/LGravimetric method GB11901-89Animal andvegetableoil15mg/LInfraredspectrophotometry HJ 637-2012BoundaryodorFoulsmellEmission standardsfor odor pollutants(GB 14554-1993),0.1mg/Nm3Methylene bluespectrophotometricmethodGB/T14675- 1993BoilerexhauststackNitrogenoxidesEmission standardof air pollutants forboiler (GB 13271-2014)200mg/Nm3 Controlled potentialelectrolysis HJ693-2014Sulfidedioxide50mg/m3 Controlled potentialelectrolysis HJ/T57-2000Particulatematter20mg/Nm3 Gravimetric method GB/T15432-1995LaiyangTianyeFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per24 hoursComprehensiveDischarge Standardof Water Pollutantsin ShandongPeninsula Basin(DB37/676-2007)COD30mg/l Dichromate process HJ 828-2017AmmonianitrogenAmmonianitrogen1.5mg/lNessler’s reagentspectrophotometry HJ535-2009pH pH6-9 Glass electrodemethod GB 6920-1986Animal oil ≤5mg/LInfraredspectrophotometry HJ 637-2012TotalphosphorusTotalphosphorus0.5mg/lAmmoniummolybdatespectrophotometryHJ 671-2013TotalnitrogenTotalnitrogen15mg/lFlow injection-naphthaleneethylenediaminehydrochlorideHJ 668-2013Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.123spectrophotometryBoilerdischargeoutletNitrogenoxides ManualmonitoringOnce perquarterUltra-low EmissionNo.2 ModificationList to ShandongBoiler Air PollutantEmission Standards(L.Z.J.B.F. [2016]No.46)Emission standardsfor odor pollutants(GB 14554-1993)200mg/m3 Laser backscatteringmethodGB/T16157- 1996Sulfidedioxide50mg/m3 Ultravioletdifferential opticalabsorptionspectroscopyHJ/T397-2007Particulatematter20mg/m3Tai'anTaishanLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hoursGravimetric methodfor determination ofsuspended solids inwater GB11901- 1989450mg/LDichromate process HJ 828-2017Ammonianitrogen35mg/LNessler’s reagentspectrophotometry HJ535-2009Totalnitrogen70mg/LNaphthaleneethylenediaminehydrochloridespectrometryHJ 668-2013pH 6-8.5 Glass electrodemethod GB 6920-1986Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 670-2013SuspendedsolidsManualmonitoringOnce perquarter256mg/LGravimetric method GB11901-89BOD5150mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012BoilerexhauststackNitrogenoxidesOnce permonthBoiler Air PollutantEmission Standards(DB37/2374-2018)100mg/Nm3 Controlled potentialelectrolysis HJ 693-2014ParticulatematterOnce peryear10mg/Nm3 Gravimetric method GB/T15432-1995Sulfidedioxide50mg/Nm3 Iodometry HJ/T 56-2000Ringelmanblackness10mg/Nm3 Boiler dust testmethod GB 5468-91OdortreatmentoutletOdorconcentrationOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9kg/h Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.33kg/h GaschromatographyGB/T14678- 1993Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.124ShandongNewHopeLiuheGroup Co.,Ltd.LinyiBranchSewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per2 hoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986SuspendedsolidsManualmonitoringOnce perquarter200mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce permonthBoiler Air PollutantEmission Standards(DB37/ 2374-2018)200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblackness1 Ringelmanblackness chart HJ/T 398-2007BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993QingdaoLiuheWanfuFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringContinuousmonitoringWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ 535-2009pH 6.5-9.5 Glass electrodemethod GB 6920-1986Flow \Velocity method(ultrasonic flowmeter)Total Man Once per 70mg/LAlkaline potassium HJ 636-2012Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.125nitrogenualmonitoringhalf ayearpersulfate digestionUVspectrophotometryTotalphosphorus8mg/LAmmoniummolybdatespectrophotometryGB/T11893- 1989Suspendedsolids400mg/LGravimetric method GB/T11901-1989BOD5350mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil100mg/LInfraredspectrophotometry HJ 637-2018Coliformgroups\ Enzyme substratetechnique HJ 1001-2018BoilerdischargeoutletNitrogenoxides ManualmonitoringOnce permonth ComprehensiveEmission Standardsfor Regional AirPollutants (DB37/2376-2019)ComprehensiveEmission Standardsfor Air Pollutants(GB16279-1996)200mg/Nm3 Controlled potentialelectrolysis HJ 693-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Fumeblackness2.0mg/Nm3Catering IndustryFume EmissionStandardsGB18483-2001FryingchimneyFumeManualmonitoringOnce perhalf ayearShandong EmissionStandards forCooking Fume inCatering Industry(DB37/ 597-2006)1.5mg/Nm3 Infraredspectrophotometry DB37/597-2006SmokingchimneyFumeOnce perhalf ayear1.5mg/Nm3 Infraredspectrophotometry DB37/597-2006CanteenchimneyFume Once peryear 1.5mg/Nm3Infraredspectrophotometry DB37/597-2006Waste gasoutletofsewagetreatmentstationAmmonia(ammoniagas)ManualmonitoringOnce perquarterEmission standardsfor odor pollutants(GB 14554-1993)4.9kg/h Nessler’s reagentspectrophotometry HJ 533-2009Hydrogensulfide0.33kg/hMethylene bluespectrophotometricmethodSupplement5.4.10.3 of theFourth Editionof Air andExhaust GasMonitoring andAnalysisMethodsOdorconcentration2000(dimensionless)Triangle odor bagmethodGB/T 14675- 1993BoundarynoiseNoise Once perquarterBoundary NoiseEmission Standardsfor IndustrialEnterprisesDaytime 60,nighttime 50Multi-functionalsound level meter GB12348-2008Boun Odor Man Once per Emission standards 20 Triangle odor bag GB/T14675-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.126daryodorconcentrationualmonitoringhalf ayearfor odor pollutants(GB 14554-1993)method 1993Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993FenxiNewHopeLiuheFoodCo.,Ltd.SewagetreatmentstationdischargeoutletCODOnlinemonitoringOnce per1 hoursEnvironmentalquality standardsfor surface water(GB 3838-2002),Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)Integratedwastewaterdischarge standard(GB 8978-1996)40mg/LDichromate process HJ 828-2017Ammonianitrogen2mg/LNessler’s reagentspectrophotometry HJ 535-2009pHJun.9 Glass electrodemethod GB 6920-1986TotalphosphorusManualmonitoringOnce permonth0.4mg/LAmmoniummolybdatespectrophotometryGB/T11893- 1989Suspendedsolids100mg/LGravimetric method GB11901-89BOD510mg/LDilution andinoculation method HJ505-2009Totalnitrogen2mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ 636-2012Animal andvegetableoil20mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LMulti-tubefermentationGB/T5750.12- 2006PhosphateBoilerexhausttreatmentdischargeoutletRingelmanblacknessOnce peryearBoiler Air PollutantEmission Standards(DB14/ 1929-2019),Emission standardsfor odor pollutants(GB 14554-1993)Comprehensiveemission standardof air pollutants(GB 16297-1996)1mg/Nm3 Ringelmanblackness chart HJ/T 398-2007NitrogenoxidesOnce permonth 50mg/Nm3Controlled potentialelectrolysis HJ693-2014Particulatematter Once peryear5mg/Nm3Determination ofparticulate matter instationary pollutionsource emissionsand samplingmethod for gaseouspollutantsGB/T 16157- 1996Sulfidedioxide35mg/Nm3 Controlled potentialelectrolysis HJ57-2017BoundaryOdorconcentrationOnce perhalf ayear20(dimensionless)Triangle odor bagmethod GB/T14675-93Amm 1.5mg/Nm3 Sodium HJ534-2009Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.127onia(ammoniagas)hypochlorite-salicylic acidspectrophotometryHydrogensulfide0.06mg/Nm3Methylene bluespectrophotometricmethodSupplement ofthe FourthEdition of Airand ExhaustGas Monitoringand AnalysisMethodsParticulatematterOnce peryearFeedplantdischargeoutletParticulatematterOnce perhalf ayear120mg/Nm33.5Kg/h Gravimetric methodGB/T15432- 1995Boundary LeqOnce perquarterEmission standardfor industrialenterprises noise atboundary (GB12348-2008)Daytime60dB(A)Nighttime50dB(A)Boundary AmbientNoise EmissionStandards forIndustrialEnterprisesGB12348-2008LinyiLiuheHongchenFarmingCo.,Ltd.SewagetreatmentstationdischargeoutletCODManualmonitoringOnce perhalf ayearDischarge standardof water pollutantsfor meat packingindustry (GB13457-1992)Agreements withsewage treatmentplants500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6-8.5 Glass electrodemethod GB 6920-1986Suspendedsolids300mg/LGravimetric method GB11901-89BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000Multi-tubefermentation andfiltration membraneHJ637-2012BoilerdischargeoutletNitrogenoxidesManualmonitoringOnce permonthEmission standardof air pollutants forboiler (GB 13271-2014), Boiler AirPollutant EmissionStandards(DB37/2374- 2018)200mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 692-2014Sulfidedioxide Once peryear50mg/Nm3Non-dispersiveinfrared absorptionmethodHJ 629-2011Dust 10mg/Nm3 Gravimetric method HJ/T 398-2007Ringelmanblack1 Ringelmanblackness chart HJ/T 398-2007Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.128nessBoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),20Catering IndustryFume EmissionStandards(Tentative)GB18483-2001Ammonia(ammoniagas)1.5mg/Nm3 Ion selectiveelectrode methodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678- 1993PingyiLiuheFadaFoodCo.,Ltd.ExhaustcylinderforsewagetreatmentstationOdorconcentrationManualdetectionOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)20Air qualityDetermination ofmalodor Three-point comparativebag methodGBT 14675- 1993Ammonia(ammoniagas)1.5mg/Nm3Air qualityDetermination ofammonia Ionselective electrodemethodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3Air qualityDetermination ofhydrogen sulfide,methyl mercaptan,methyl sulfide anddimethyl disulfideGaschromatographyGB/T14678- 1993Duck-hangingplatformexhaustcylinderOdorconcentration20Air qualityDetermination ofmalodor Three-point comparativebag methodGBT 14675- 1993Ammonia(ammoniagas)1.5mg/Nm3Air qualityDetermination ofammonia Ionselective electrodemethodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3Air qualityDetermination ofhydrogen sulfide,methyl mercaptan,methyl sulfide anddimethyl disulfideGaschromatographyGB/T14678- 1993MainsewageoutletColiformgroupsAutomatictestingOnce per6 hoursComprehensiveDischarge Standardof Water Pollutantsin Basin Part 2:Yishu River Basin(DB37/ 3416.2-2018),Environmentalquality standardsfor surface water(GB 3838-2002),/,Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)10000/LMulti-tubefermentation GB 6920-1986BOD510mg/LWater qualityDetermination ofBOD5 Dilution andinoculation testGB 11901- 1989Ammonianitrogen1.5mg/lWater qualityDetermination ofAmmonia nitrogenFlow injection -salicylic acidspectrophotometryHJ505-2009Animal and 3mg/LWater qualityDetermination of HJ 828-2017Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.129vegetableoilpetroleum andanimal andvegetable oilsInfraredspectrophotometryCOD 30mg/LWater qualityDetermination ofCODDichromateprocessHJ 668-2013Totalnitrogen (inN)15mg/LWater qualityDetermination oftotal nitrogen Flowinjection -naphthaleneethylenediaminehydrochloridespectrophotometryHJ 666-2013pHvalue pH6-9Water qualityDetermination ofpH value Glasselectrode methodHJ 671-2013Suspendedsolids20mg/LWater qualityDetermination ofsuspended solidsGravimetric methodHJ637-2018Totalphosphorus(in P)0.3mg/LWater qualityDetermination oftotal phosphorusFlow injection -ammoniummolybdatespectrophotometryGB/T11893- 1989BoundaryOdorconcentrationManualdetectionOnce permonthEmission standardsfor odor pollutants(GB 14554-1993)20Air qualityDetermination ofmalodor Three-point comparativebag methodGBT 14675- 1993Ammonia(ammoniagas)1.5mg/Nm3Air qualityDetermination ofammonia Ionselective electrodemethodGB/T 14669- 1993Hydrogensulfide0.06mg/Nm3Air qualityDetermination ofhydrogen sulfide,methyl mercaptan,methyl sulfide anddimethyl disulfideGaschromatographyGB/T14678- 1993BeijingKingheyFoodCo.,Ltd.Outlet ofsewagetreatmentstationCODOnlinemonitoring24 timesa dayComprehensiveDischarge Standardof Water Pollutants(DB11/ 307-2013)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LFlow injection-naphthaleneethylenediaminehydrochloridespectrophotometryHJ 668-2013Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8.0mg/LAmmoniummolybdatespectrophotometryHJ 671-2013pH 6.5-9 Glass electrodemethod GB 6920-1986Suspe Man Once per 400mg/LGravimetric method GB11901-89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.130ndedsolidsualmonitoringquarterBOD5300mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2012Coliformgroups10000/LMulti-tubefermentation andfiltration membraneHJ 347.2-2018Outlet ofchemcialproductionoutletNon-methanehydrocarbonManualmonitoringOnce perhalf ayearComprehensiveEmission Standardsof Air Pollutants(DB11/ 501-2017)50mg/Nm3 Gaschromatography HJ/T 38-1999CanteenfumeFumeCatering IndustryFume EmissionStandards(Tentative)(GB18483-2001)1mg/Nm3 Infraredspectrophotometry HJ 1077-2019Particulatematter5mg/Nm3 Mannual weighingmethod DB11/T1485Non-methanehydrocarbon10mg/Nm3 Gaschromatography HJ/T 38-1999BoilerexhaustoutletNitrogenoxidesManualmonitoringOnce permonthBoiler Air PollutantEmission Standards(DB11/ 139-2015)80mg/Nm3 Controlled potentialelectrolysis HJ 693-2014SulfidedioxideOnce peryear50mg/Nm3 Controlled potentialelectrolysis HJ 57-2017Particulatematter20mg/Nm3 Gravimetric method HJ 836-2017RingelmanblacknessLevel 1 Ringelmanblackness chart HJ/T398-2007FugitiveemissionAmmoniagasManualmonitoringOnce perhalf ayearComprehensiveEmission Standardsof Air Pollutants(DB11/ 501-2017)1.5mg/Nm3 Nessler’s reagentspectrophotometry HJ533-2009Hydrogensulfide0.06mg/Nm3Methylene bluespectrophotometricmethodFourth Editionof Air andExhaust GasMonitoring andAnalysisMethodsOdorconcentration20mg/Nm3 Triangle odor bagmethod HJ 1262-2022HebeiKingheyMeatIndusOutlet ofsewagetreatCODOnlinemonitoring4 times adayComprehensiveDischarge Standardof Water Pollutants(DB11/ 307-2013)500mg/LDichromate process HJ 828-2017pH 6.5-9 Glass electrodemethod HJ1147-2020Totalnitrog 70mg/LAlkaline potassiumpersulfate digestion HJ 636-2012Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.131tryCo.,Ltd.mentstationen UVspectrophotometryAmmonianitrogen45mg/LNessler’s reagentspectrophotometry HJ535-2009Totalphosphorus8.0mg/LAmmoniummolybdatespectrophotometryHJ 671-2013SuspendedsolidsManualdetectionOnce perhalf ayear400mg/LGravimetric method GB/T11901-1989Phosphate 1.0mg/LSpectrophotometryGB/T11893- 1989BOD5300mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil50mg/LInfraredspectrophotometry HJ 637-2018Coliformgroups10000/LMulti-tubefermentation andfiltration membraneGB/T5750.12- 2006Airflotationtankexhaustcylinder,desiltingroomexhaustcylinder,grilleexhaustcylinder,waitingpendsexhaustcylinder,harmlesstreatmentdischargeoutletOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)2000 Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)8.7kg/h Nessler’s reagentspectrophotometry HJ533-2009Hydrogensulfide0.58kg/h GaschromatographyGB/T14678- 1993LiaoningKingheyFoodCo.,Ltd.Outlet ofsewagetreatmentstatioCODOnlinemonitoring4 times adayIntegratedWastewaterDischarge Standard(DB 21/1627-2008)Discharge standardof water pollutantsfor meat packing300mg/LDichromate process HJ 828-2017Totalnitrogen50mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ 636-2012Ammonia 30mg/LSalicylic acidspectrophotometry HJ 536-2009Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.132n industry (GB13457-1992)nitrogenTotalphosphorus5mg/LAmmoniummolybdatespectrophotometryGB 11893-1989pHOnce perquarter6.0-8.5 Electrode method HJ 1147-2020SuspendedsolidsManualmonitoring300mg/LGravimetric method GB11901-1989BOD5250mg/LDilution andinoculation method HJ505-2009Animal andvegetableoil60mg/LInfraredspectrophotometry HJ 637-2018Coliformgroups10000 Rapid paper stripmethod HJ 775-2015BoundaryodorOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993),Comprehensiveemission standardof air pollutants(GB 16297-1996)20(dimensionless)Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)1.5mg/Nm3 Nessler’s reagentspectrophotometry HJ 533-2009Hydrogensulfide0.06mg/Nm3Methylene bluespectrophotometricmethodNone (to beverified)ChengduHopeFoodCo.,Ltd.WastewateroutletCODAllindicatorsneed tobemonitoredmanually,includingonlinemonitoringofchemicaloxygendemand,ammonianitrManualmonitoring: onceper half ayear Onlinemonitoring: onceper twohoursWater qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015)Discharge standardof water pollutantsfor meat packingindustry (GB13457-1992)500mg/LDichromate process HJ 828-2017Ammonianitrogen45mg/LNessler’s reagentspectrophotometry HJ 535-2009pH 6.0-8.5 Glass electrodemethod GB 6920-86Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryGB 11893-89Suspendedsolids400mg/LGravimetric method GB 11901-89BOD5300mg/LDilution andinoculation method HJ 505-2009Animal andvegetableoil60mg/LInfrared photometry HJ637-2018Coliformgroups_ Multi-tubefermentationWater andWastewaterMonitoring andAnalysisMethods(Fourth Edition)(SupplementaryEdition)Totalnitrogen70mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ636-2012Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.133ogen,totalphosphorus,totalnitrogenandpHBoilerexhaustoutletNitrogenoxidesManualmonitoringOnce permonthEmission standardof air pollutants forboiler (GB 13271-2014)150mg/Nm3 Controlled potentialelectrolysis HJ 693-2014SulfidedioxideOnce peryear50mg/Nm3 Controlled potentialelectrolysis HJ 57-2017Particulatematter20mg/Nm3 Gravimetric method HJ 836-2017RingelmanblacknessLevel 1 Ringelmanblackness chart HJ/T398-2007FugitiveemissionAmmonia(ammoniagas)Manualmonitoring2 times ayearEmission standardsfor odor pollutants(GB 14554-1993)1.5mg/Nm3 Nessler’s reagentspectrophotometry HJ533-2009Hydrogensulfide0.06mg/Nm3Methylene bluespectrophotometricmethodFourth Editionof Air andExhaust GasMonitoring andAnalysisMethodsOdorconcentration20mg/Nm3 Triangle odor bagmethodGB/T14675- 1993ShandongKingheyFoodCo.,Ltd.Outlet ofsewagetreatmentstationCODOnlinemonitoring4 times aday Water qualitystandards forsewage dischargedinto urban sewers(GB/T 31962-2015), Dischargestandard of waterpollutants for meatpacking industry(GB 13457-1992)500mg/LDichromate process HJ 828-2017Totalnitrogen70mg/LAlkaline potassiumpersulfate digestionUVspectrophotometryHJ 636-2012Ammonianitrogen45mg/LSalicylic acidspectrophotometry HJ 536-2009Totalphosphorus8mg/LAmmoniummolybdatespectrophotometryGB 11893-1989pH 6.0-8.5 Electrode method HJ 1147-2020Suspendedsolids ManualmonitoringOnce perquarter400mg/LGravimetric method GB11901-1989BOD5300mg/LDilution andinoculation method HJ505-2009Animal andvegetable60mg/LInfraredspectrophotometry HJ 637-2018Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.134oilWaste gasOdorconcentrationManualmonitoringOnce perhalf ayearEmission standardsfor odor pollutants(GB 14554-1993)2000(dimensionless)Triangle odor bagmethodGB/T14675- 1993Ammonia(ammoniagas)4.9mg/Nm3 Nessler’s reagentspectrophotometry HJ 533-2009Hydrogensulfide0.33mg/Nm3Methylene bluespectrophotometricmethodNone (to beverified)Administrative penalties imposed due to environmental issues within the reporting periodName of companyor subsidiaryReasons for penalty ViolationResults ofpenaltyEffects onbusinessoperations ofthe listedcompanyCorrective measurestakenGuanling XinmuBreeding Co., Ltd.The constructionlocation and capacity ofthe emergency pool areinconsistent with theEIA; the biogas slurrystorage pool is notcovered to prevent rain;the situation of theconsumption site is notin conformity with theEIA; no groundwatermonitoring and controlwells, and nogroundwater monitoringhas been carried outThe actualconstruction is notin conformity withthe EIAA fine of threehundredthousand yuanNo significantimpactShut down forrectification,construction ofenvironmentalprotection facilitiesthat need supportingconstruction, andput into productionor use after passingthe inspectionGuanling XinmuBreeding Co., Ltd.There is no imperviousground in culture andenvironmental protectionareas, the storm drainsare stained with manure,and the emergency poolwater is not up to thestandard; there is waterseepage under the wallof the culture area,which flows through thestorm drain to the openspace without seepagecontrol and forms a pit,and the water body in thepit is black and smellySet hidden pipes inseepage wells, pits,crevices and caves,tampered orfalsified monitoringdata, or improperoperation of waterpollution preventionfacilities and otherways to evadesupervision andcontrol of waterpollutantsA fine of fivehundredthousand yuanNo significantimpactActive removal ofpigs to cut offpollution source in atimely manner, andactive cooperationwith the assessmentof ecologicaldamagecompensationYingtan XinliuTechnology Co.,Ltd.Black water leaks fromthe oxidation pond as themembrane breaks,forming overflows ofreclaimed waterAbnormal operationof water pollutionprevention andcontrol facilitiesA fine of twohundredthousand yuanNo significantimpactReplacement ofoxidation pondmembrane andgroutingrectification.Ningming Xinhao Solid waste (pig manure) Solid waste (pig A fine of nine No significant collection andFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.135Farming Co., Ltd. is not collected andstored as requiredmanure) is notcollected and storedas requiredthousandseven hundredand twentytwo yuanimpact storage of solidwaste (pig manure)as requiredLongzhou XinhaoFarming Co., Ltd.The breeding project isbuilt in a scenic areaViolated Article 11of the Regulationson the Preventionand Control ofPollution fromLarge-scaleLivestock andPoultry Breedingthat “no livestockand poultry farmsand breeding areasin the followingareas”A fine of sixtyeight thousandyuanNo significantimpactStrengthen thepublicity andimplementation ofthe managementregulationsWuhan GuoxiongFeed Co., Ltd.Improper operation of airpollution prevention andcontrol facilities andother ways to evadesupervision and controlof air pollutantsPollution (wastegas) controlequipment andproductionequipment are notrunning at the sametimeA fine of threehundred andtwentythousand yuanNo significantimpactRisk managementstrengthened tocontrol and reducepollutant dischargefrom the source, andimprove thewastewatertreatment processOther environmental information required to be disclosedCompanyname Document nameApprovingauthority Date approved Approval numberLinyi LiuheFood Co., Ltd.Reply on the EIS of Linyi LiuheFood Co., Ltd.Shandong DezhouEnvironmentalProtection BureauDec.24,2010 D.H.Y. (2010) No.65Acceptance Test Report onEnvironmental Protection ofCompleted Construction ProjectShandogn LinyiCountyEnvironmentalProtection BureauJun.2017 L.H.J.Zi 2017 YS06-07Lanling NewHope LiuheHongjun FoodCo., Ltd.Reply on the EIS of the 15 million/aDuck Slaughtering and FoodProcessing Project of CangshanCounty Hongjun Food Co., Ltd.LinyiEnvironmentalProtection BureauApr.10,2013 L.H.F. [2013] No.53Opinions on the CompletionAcceptance of EnvironmentalProtection for the 15 million/a DuckSlaughtering and Food ProcessingProject of Lanling New Hope LiuheHongjun Food Co., Ltd.LinyiEnvironmentalProtection BureauAug.20,2014 L.H.P.H. (2014) No.341PingyiRefrigerationFactory ofShandong NewHope LiuheGroup Co., Ltd.Written Reply regarding theApproval Opinions on BroilerSlaughtering Line Project Phase IIof Pingyi Liuhe Co., Ltd.LinyiEnvironmentalProtection BureauDec.7,2001 L.H.H. [2001] No.103Opinions on the CompletionAcceptance of EnvironmentalProtection of Broiler SlaughteringLine Project Phase II of PingyiLiuhe Co., Ltd.LinyiEnvironmentalProtection BureauJun.2,2003 P.H.S.Zi (2008) No.41QingdaoTianrun FoodCo., Ltd.Environmental Impact Report onPoultry Slaughterhouse ExpansionProjectQingdao JiehuaEnvironmentalTechnology Co.,Ltd.Feb.2020 P.H.S.Zi (2020) No.100Environmental Impact Report onthe 6 million/a Duck ProcessingPlant ProjectPingduEnvironmentalProtection BureauJan.18,2015 P.H.J.Zi [2005] No.20Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.136Acceptance Opinions onCompletion Acceptance ofEnvironmental Protection of theMeat Duck Processing Plant ProjectPingduEnvironmentalProtection BureauDec.19,2006 P.H.J.Zi [2003] No.53Yishui NewHope LiuheFood Co., Ltd.Reply on the EIS of the Proposed90,000 t/a Poultry Meat and DeepProcessing Plant Project of YishuiLiuhe Kailida Food Co., Ltd.LinyiEnvironmentalProtection BureauMay 4,2009 L.H.H. [2009] No.245Reply on the Application forCommissioning of the New 90,000t/a Poultry Meat and DeepProcessing Plant Project of YishuiLiuhe Kailida Food Co., Ltd.LinyiEnvironmentalProtection BureauAug.21,2010 L.H.H. [2010] No.596Reply on the EIS of the SewageTreatment Improvement Project ofYishui Liuhe Kailida Food Co.,Ltd.LinyiEnvironmentalProtection BureauJun.24,2011 L.H.H. [2011] No.330Reply on the Application forCommissioning of the SewageTreatment Improvement Project ofYishui Liuhe Kailida Food Co.,Ltd.LinyiEnvironmentalProtection BureauOct.12,2012 L.H.H. [2012] No.554Guantao LiuheFood Co., Ltd.Meat Products Deep Processing andSewage Treatment ProjectCompletion (Phased)Environmental Acceptance Reportof Guantao Liuhe Food Co., Ltd.Guantao CountyEnvironmentalProtection BureauMay 22,2017 G.H.B. [2017] No.9Meat Products Deep Processing andSewage Treatment Project ofGuantao Liuhe Food Co., Ltd.Guantao CountyEnvironmentalProtection BureauAug.16,2016 G.F.G.B.Zi [2016] No.16Reply on the EIS of the BroilerSlaughtering and Cutting Project ofGuantao Liuhe Food Co., Ltd.HandanEnvironmentalProtection BureauMar.4,2009 H.H.H. [2009] No.36Gas Boiler Technical ReformProject of Guantao Liuhe Food Co.,Ltd.Guantao CountyBureau ofAdministrativeExamination andApprovalApr.27,2021 G.S.P.S.H.Zi [2012] No.22Binzhou LiuheLongdaFarming Co.,Ltd.0.90 million/a Broiler and DuckSlaughtering and Cutting Project ofBinzhou Longda Food Co., Ltd.BinzhouEnvironmentalProtection BureauBincheng BranchMar.16,2007 B.C.H.B. [2007] No.11Acceptance OpinionsBinzhouEnvironmentalProtection BureauBincheng BranchSept.20,2008 H.Y. [2008] No.1-15Wudi LiuheXinyang FoodCo., Ltd.The 40,000/a Broiler SlaughteringPlant Project of Binzhou QingheFushi Food Co., Ltd.BinzhouEnvironmentalProtection BureauFeb.26,2007 B.H.Zi [2007] No.30Zouping LiuheLivestock Co.,Ltd.Reply on the EIS of the 0.90million/a Broiler Slaughtering LineProject of Zouping Liuhe FarmingCo., Ltd.Zouping CountyEnvironmentalProtection BureauSept.8,2009 Z.H.G.Zi (2009) No.72Opinions on CompletionAcceptance of EnvironmentalProtection of the 0.90 million/aBroiler Slaughtering Line ProjectZouping CountyEnvironmentalProtection BureauDec.7,2010 Z.H.Y.B. (2010) No.13Shan CountyLiuhe Feed Co.,Ltd. FoodBranchThe 30 million/a Duck Slaughteringand Processing Plant Project ofShan County Liuhe Feed Co., Ltd.Food BranchHeze EnvironmentalProtection Bureau Jun.11,2012 H.H.S. [2012] No.46Completion Acceptance ofEnvironmental Protection of the 30million/a Duck Slaughtering andProcessing Plant Project of ShanCounty Liuhe Feed Co., Ltd. FoodHeze EnvironmentalProtection Bureau Sept.30,2017 H.Y. [2017] No.108Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.137BranchCao CountyLiuhe FoodCo., Ltd.New 20 million/a DuckSlaughtering and Processing PlantProject of Cao County Liuhe FoodCo., Ltd.Cao CountyEnvironmentalProtection BureauApr.11,2007 C.H.S. [2007] No.44Completion Acceptance ofEnvironmental Protection of theNew 20 million/a DuckSlaughtering and Processing PlantProject of Cao County Liuhe FoodCo., Ltd.Cao CountyEnvironmentalProtection BureauJun.10,2008 C.H.S. [2008] No.26Jiaxiang NewHope LiuheFood Co., Ltd.Meat Poultry Slaughtering andDeep Processing Project of JiaxiangNew Hope Liuhe Food Co., Ltd.Jiaxiang CountyEnvironmentalProtection BureauAug.17,2016 J.H.S. [2016] No.2YunchengLiuhe FoodCo., Ltd.Reply on the EIS of WastewaterTreatment Improvement Project ofYuncheng Liuhe Food Co., Ltd.Yuncheng CountyEnvironmentalProtection BureauJul.25,2010 Y.H.S. [2010] No.62Completion Acceptance Form forthe Wastewater TreatmentImprovement ProjectYuncheng CountyEnvironmentalProtection BureauOct.13,2014 Y.H.P.H. (2018) No.6Anshan LiuheFood Co., Ltd.The 15 million/a Duck Slaughteringand Processing Project of LiaoningHonglu Agricultural DevelopmentCo., Ltd.Tai'an CountyEnvironmentalProtection BureauMay 11,2007 T.H.S.Zi [2007] No.8Opinions on CompletionAcceptance of EnvironmentalProtection of the 15 million/a DuckSlaughtering and Processing Projectof Liaoning Honglu AgriculturalDevelopment Co., Ltd.Tai'an CountyEnvironmentalProtection BureauJun.29,2008 T.H.Y.Zi [2008] No.6Panjin LiuheFarming Co.,Ltd.Reply on the EIS of the Meat DuckCutting, Processing andRefrigeration Plant Project ofPanjin Liuhe Farming Co., Ltd.PanjinEnvironmentalProtection BureauDec.30,2010 P.H.F. [2010] No.350Opinions on CompletionAcceptance of EnvironmentalProtection of the Meat DuckCutting, Processing andRefrigeration Plant Project ofPanjin Liuhe Farming Co., Ltd.PanjinEnvironmentalProtection BureauNov.29,2012 P.F.H. [2012] No.117Dong’e LiuheLvjia Food Co.,Ltd.The 0.90 million/a PoultrySlaughtering and RefrigerationProject of Dong'e Liuhe Lvjia FoodCo., Ltd.Dong’e CountyEnvironmentalProtection BureauJul.15,2008 D.S.B. [2008] No.55Opinions on CompletionAcceptance of the 0.90 million/aPoultry Slaughtering andRefrigeration Project of Dong'eLiuhe Lvjia Food Co., Ltd.Dong’e CountyEnvironmentalProtection BureauDec.29,2010Environmental ProtectionReport on ConstructionProjectShen CountyNew HopeLiuheQingsizhaiFood Co., Ltd.Reply on the EIS of the 48 million/aDuck Slaughtering Project of ShenCounty New Hope LiuheQingsizhai Food Co., Ltd.Shen CountyEnvironmentalProtection BureauMay 28,2013 S.H.S. [2013] No.43Opinions on CompletionAcceptance of EnvironmentalProtection of the 48 million/a DuckSlaughtering Project of ShenCounty New Hope LiuheQingsizhai Food Co., Ltd.Shen CountyEnvironmentalProtection BureauJul.28,2014 S.H.Y. [2014] No.12Yanggu LiuheLuxin FoodCo., Ltd.Opinions on Filing of the 32million/a Duck Slaughtering Projectof Yanggu Liuhe Luxin Food Co.,Ltd.Yanggu CountyEnvironmentalProtection BureauDec.28,2016 Y.H.H. [2016] No.123WeifangTianhui FoodCo., Ltd.Reply on the EIS of the DuckProduct Deep ProcessingIndustrialization DemonstrationShouguangEnvironmentalProtection BureauMar.30,2007 S.H.S.Zi (2007) No.2Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.138Project of Weifang Tianhui FoodCo., Ltd.Acceptance Opinions on the DuckProduct Deep Processing PackingIndustrialization DemonstrationProject of Weifang Tianhui FoodCo., Ltd.ShouguangEnvironmentalProtection BureauOct.2007 NoneWeifangHeshengyuanFood Co., Ltd.Anqiu Modern White FeatherBroiler Industry IntegratedDevelopment Project, WeifangAnqiuEnvironmentalProtection BureauSept.9,2016 A.H.Zi [2016] No.58Pollution Control FacilitiesAcceptance Form (Trial)AnqiuEnvironmentalProtection BureauJan.2019 A.H.Y.Zi [2019] No.034Luoyang LiuheHuiquan FoodCo., Ltd.Review Opinions on New BroilerProcessing Project of LuoyangLiuhe Huiquan Food Co., Ltd.LuoyangEnvironmentalProtection BureauJul.30,2008 L.S.H. (2008) No.226Reply on the EIS of the NewBroiler Processing Project ofLuoyang Liuhe Huiquan Food Co.,Ltd.HenanEnvironmentalProtection BureauNov.14,2008 Y.H.S. (2008) No.262Acceptance Opinions onEnvironmental Protection of theNew Broiler Processing Project ofLuoyang Liuhe Huiquan Food Co.,Ltd.HenanEnvironmentalProtection BureauOct.15,2010 L.H.J.Y. [2010] No.52Hebi LiuheZhizhen FoodCo., Ltd.Status Quo Environmental ImpactAssessment Report retroactivelyfiled in 2016No reply Status Quo EnvironmentalImpact Assessment ReportLaiwu NewHope LiuheFood Co., Ltd.EIS of the Meat Poultry ProcessingIndustrialization Project of LaiwuNew Hope Liuhe Food Co., Ltd.Laicheng DistrictEnvironmentalProtection BureauAug.19,2011 L.H.J. [2011] No.82EIS on Air Pollution Control ofLaiwu New Hope Liuhe Food Co.,Ltd.LaiwuEnvironmentalProtection BureauNov.14,2018 L.H.B.G.B.[2018] No.11142Dezhou LiuheZhikang FoodCo., Ltd.Acceptance Monitoring Report onEnvironmental Protection of theCompleted 30,000/d Meat DuckSlaughtering Plant Project ofDezhou Liuhe Zhikang Food Co.,Ltd.Ling CountyEnvironmentalTesting Station,DezhouDec.1,2009 L.H.J.Zi (2009) No.39Acceptance Opinions onEnvironmental Protection of theCompleted 30,000/d Meat DuckSlaughtering Plant Project ofDezhou Liuhe Zhikang Food Co.,Ltd.Ling CountyEnvironmentalTesting StationMay 10,2010 L.H.Y. (2010) No.3Fei CountyLiuhe HuahaiFood Co., Ltd.Reply on the EIS of the 30 million/aBroiler Slaughtering and ProcessingProject of Fei County Liuhe HuahaiFood Co., Ltd.LinyiEnvironmentalProtection BureauSept.19,2019 F.H.G.Zi (2019) No.60Fuxin LiuheFarming Co.,Ltd. FoodBranchReply on the EIS of the 25 million/aBroiler Slaughtering Project ofFuxin Liuhe Farming Co., Ltd.Food BranchFuxinEnvironmentalProtection BureauTaiping BranchJan.10,2017 F.H.T.S.S [2017] No.1Reply on the CompletionAcceptance of EnvironmentalFacilities for the 15 million/a WhiteFeather Broiler Slaughtering andProcessing Project of Fuxin LiuheFarming Co., Ltd. Food BranchFuxinEnvironmentalProtection BureauMar.10,2010 F.H.F. [2010] No.49Taiqian NewHope LiuheLuxin FoodCo., Ltd.EIS for Approval of the 120,000/dDuck Slaughtering Project ofTaiqian New Hope Liuhe LuxinFood Co., Ltd.Puyang Ecologyand EnvironmentBureauJul.27,2020 T.H.G.J.B. [2019] No.26Laoting LiuheXinmeizi FoodBroiler Processing Line Project ofLaoting New Hope Liuhe ZhaotaiLaoting CountyEnvironmental Sept.21,2012 L.H.S. [2012] No.08Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.139Co., Ltd. Food Co., Ltd. constructed byLaoting Shengxiang Trade Co., Ltd.Protection BureauBroiler Processing Line Upgradingand Transformation ProjectTangshan Ecologyand EnvironmentBureau LaotingCounty BranchSept.25,2020 L.H.P.B. [2020] No.49QixiaRefrigerationFactory ofShandong NewHope LiuheGroup Co., Ltd.Reply on the EIS of the PlantRenovation and Sewage TreatmentReconstruction and Expansionproject of Qixia RefrigerationFactory of Shandong New HopeLiuhe Group Co., Ltd.QixiaEnvironmentalProtection BureauDec.18,2012 NoneLaiyang TianyeFood Co., Ltd.Acceptance Monitoring Report onEnvironmental Protection of the 20million/a Broiler Slaughtering andProcessing Project of LaiyangTianye Food Co., Ltd.Shandong YantaiEcology andEnvironmentBureau LaiyangBranchMay 1,2020 L.H.F. [2020] No.12Shandong NewHope LiuheGroup Co., Ltd.Linyi BranchReply on the EIS of the 30,000t/aPoultry Slaughtering, Cutting andProcessing Line Relocation andExpansion Project of ShandongDazhong Food Co., Ltd.LinyiEnvironmentalProtection BureauJul.7,2007 L.H.F. [2007] No.73Environmental AcceptanceOpinions of the 30,000t/a PoultrySlaughtering, Cutting andProcessing Line Relocation andExpansion Project of ShandongDazhong Food Co., Ltd.LinyiEnvironmentalProtection BureauDec.8,2008 L.H.Y. [2008] No.82Qingdao LiuheWanfu FoodCo., Ltd.EIS and Water EnvironmentalImpact Report of the 20,000t/aMeat Product and Frozen FreshVegetable Project of Qingdao LiuheWanfu Food Co., Ltd.Ocean University ofChina May 12,2011 HDHP112137Reply on the EIS and WaterEnvironmental Impact Report of the20,000t/a Meat Product and FrozenFresh Vegetable Project of QingdaoLiuhe Wanfu Food Co., Ltd.LaixiEnvironmentalProtection BureauJun.3,2011 X.H.S. [2011] No.43Acceptance Test Report onEnvironmental Protection of the20,000t/a Meat Product and FrozenFresh Vegetable Project of QingdaoLiuhe Wanfu Food Co., Ltd.LaixiEnvironmentalMonitoring StationJan.2014 X.Y.J.Z. [2013] No.027Letter of EnvironmentalAcceptance Opinions on the20,000t/a Meat Product and FrozenFresh Vegetable Project of QingdaoLiuhe Wanfu Food Co., Ltd.LaixiEnvironmentalProtection BureauFeb.27,2015 X.H.Y. [2015] No.9Fenxi NewHope LiuheFood Co., Ltd.Reply on the EIAStandard to beAdopted for the Broiler Farmingand Slaughtering and FeedProcessing Project of FenxiHongchang Breeding Co., Ltd.Fenxi CountyEnvironmentalProtection BureauJan.11,2010 F.H.F. [2010] No.5Reply on the EIS of the BroilerFarming and Slaughtering and FeedProcessing Project of FenxiHongchang Breeding Co., Ltd.LinfenEnvironmentalProtection BureauNov.17,2010 L.H.S.F [2010] No.16Reply on the EnvironmentalProtection Acceptance uponCompletion of Phase I (FeedProcessing and SlaughteringProduction Line) of the BroilerFarming and Slaughtering and FeedProcessing Project of FenxiHongchang Breeding Co., Ltd.LinfenEnvironmentalProtection BureauJan.20,2012 L.H.S.Y. [2012] No.5Reply on the EIS of the 100,000-ton Fenxi County Oct.19,2021 F.S.G.P. [2021] No.59Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.140Feed Production Line Renovationand Expansion Project of FenxiCounty Chaoyang Farming Co.,Ltd.Bureau ofAdministrativeServicesPingyi LiuheFada Food Co.,Ltd.EIS of the 15 million/a DuckSlaughtering Project of PingyiLiuhe Fada Food Co., Ltd.Shandogn PingyiCountyEnvironmentalProtection BureauAug.5,2021 P.S.F.1-149 [2021] No.42Linyi LiuheHongchenFarming Co.,Ltd.Reply on the EIS of the 700,000/aDuck and Rabbit SlaughteringExpansion Project of Linyi LiuheHongchen Farming Co., Ltd.Lanshan DistrictEnvironmentalProtection BureauDec.30,2008 L.H.L.H. [2008] No.423Reply on the Acceptance Report ofthe 700,000/a Duck and RabbitSlaughtering Expansion Project ofLinyi Liuhe Hongchen FarmingCo., Ltd.Lanshan DistrictEnvironmentalProtection BureauAcceptancecompleted L.H.L.H. (2010) No.736BeijingKinghey FoodCo., Ltd.Reply of Beijing Pinggu DistrictEnvironmental Protection Bureauon the EIS of Quick Frozen Foodand Meat Product Processing andSupporting Facilities ProjectBeijing PingguDistrictEnvironmentalProtection BureauDec.31,2014 J.P.H.P.S. [2014] No.450Acceptance OpinionsBeijing PingguDistrictEnvironmentalProtection BureauJun.1,2015 P.H.Y. [2015] No.71Hebei KingheyMeat IndustryCo., Ltd.Reply on EIS of Nangong HogSlaughtering and Meat ProductDeep Processing Project of BeijingKinghey Food Co., Ltd.HebeiEnvironmentalProtection BureauAug.6,2004 J.H.G. [2004] No.193Acceptance OpinionsHebei ProvincialDepartment ofEnvironmentalProtectionJan.12,2010 J.H.Y. [2010] No.006LiaoningKinghey FoodCo., Ltd.Reply on FSR of Pig SlaughteringProject of Liaoning Kinghey FoodCo., Ltd.ShenyangEnvironmentalProtection BureauPuhe New TownBranchSept.5,2005 S.N.H.B.S.Zi [2005] No.7Environmental ProtectionAcceptance Opinions of PigSlaughtering ProjectShenyangEnvironmentalProtection BureauPuhe New TownBranchOct.11,2010 P.H.F.Y. [2010] No.071Chengdu HopeFood Co., Ltd.Application for Registration ofEnvironmental ProtectionAcceptance of CompletedConstruction ProjectXinjin CountyEnvironmentalProtection BureauSept.8,2009 X.H.Y. [2009] No.17Application for Registration ofEnvironmental ProtectionAcceptance of CompletedConstruction ProjectXinjin CountyEnvironmentalProtection BureauSept.8,2009 X.H.Y. [2009] No.18Low-Temperature Meat ProductProcessing (Phase I and II)Construction ProjectXinjin CountyEnvironmentalProtection BureauOct.14,2008 X.H.J. [2008] No.79High-Temperature Meat ProductProcessing (Phase III) ConstructionProjectXinjin CountyEnvironmentalProtection BureauNov.12,2008 X.H.J. [2008] No.80Review and Approval ofEnvironmental Impact RegistrationForm of the 3,000t/a Quick Frozenand Prepared Food Production lineProject of Chengdu Hope Food Co.,Ltd.Xinjin CountyBureau ofAdministrativeExamination andApprovalJan.5,2016 X.S.Y.H.P. [2016] No.1Reply of Xinjin CountyEnvironmental Protection BureauXinjin CountyEnvironmental Jul.3,2014 X.H.J.F. [2014] No.67Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.141regarding Examination of the EISof the New 35,000 t/a High-temperature Meat ProductProduction Line Renovation Projectof Chengdu Hope Food Co., Ltd.Protection BureauShandongKinghey FoodCo., Ltd.Opinions on the Approval of EIS ofPig Slaughtering, Meat Processingand Storage Cold Chain LogisticsConstruction Projects of ShandongKinghey Food Co., Ltd.Xinjin CountyBureau ofAdministrativeServicesJun.10,2020 X.S.P.B.G.S. (2020) No.2ChenzhouXinhaoFarming Co.,Ltd.Reply of Chenzhou Ecology andEnvironment Bureau on EIS ofChenzhou Yizheng County MeitianBreeding Pig Farm ProjectChenzhou Ecologyand EnvironmentBureau YizhangBranchMay 6,2020 A.S.H.Zi [2020] No.15HengnanCounty MuyunEco-agricultureCo., Ltd.Reply of Hengnan CountyEnvironmental Protection Bureauon EIS of Hengnan County MuyunEcological AgricultureDemonstration Park ProjectHengnan CountyEnvironmentalProtection BureauAug.28,2018 N.H.P. [2018] No.33Longhui NewHope LiuheFarming Co.,Ltd.EIADisclosure CommitmentApproval Form for 6,750 sows/aConstruction Project of LonghuiNew Hope Liuhe Farming Co., Ltd.Shaoyang Ecologyand EnvironmentBureauAug.31,2020 S.S.H.S. No.015ShaoyangXinmu FarmingCo., Ltd.EIADisclosure CommitmentApproval Form for QiaotouEcological Farm ConstructionProject of Shaoyang XinmuFarming Co., Ltd.Shaoyang Ecologyand EnvironmentBureauDec.2,2020 S.S.H.S. No.020HengyangXinhaoFarming Co.,Ltd.Reply on EIS of 200,000Commercial Pig Project ofHengyang Xinhao Farming Co.,Ltd.Hengyang Ecologyand EnvironmentBureau HengnanBranchOct.15,2020 Q.H.P. [2020] No.54ChenzhouXinhaoFarming Co.,Ltd.Reply on EIS of Chenzhou BeihuDistrict Tonghe Fattening FarmModification ProjectChenzhou Ecologyand EnvironmentBureauAug.24,2021 C.H.P. [2021] No.56Hainan XinliuAgriculturalReclamationFarmingTechnologyCo., Ltd.Reply of Haikou Ecology andEnvironment Bureau on EIS of6,750 Breeding Pigs FarmConstruction Project of HainanXinliu Agricultural ReclamationHaikou Ecology andEnvironmentBureauMar.9,2020 H.H.S. [2020] No.29HainanChangjiangXinliu BreedingCo., Ltd.Reply of the Department ofEcology and Environment of HailanProvince on EIS of New HopeLiuhe Baishanma Pig BreedingBase Project inShiyuetian Town,Changjiang CountyDepartment ofEcology andEnvironment ofHailan ProvinceJan.17,2020 Q.H.H. [2020] No.32Hainan LingaoXinliu BreedingCo., Ltd.Reply of the Department ofEcology and Environment of HailanProvince on EIS of NewConstruction of 6,000 ParentalBreeding Pigs Farm Project inLingao County, Hainan ProvinceDepartment ofEcology andEnvironment ofHailan ProvinceJan.17,2020 Q.H.H. [2020] No.17Hainan XinliuAgriculturalReclamationFarmingTechnologyCo., Ltd.Reply of Haikou Ecology andEnvironment Bureau on EIS of150,000 Pigs Fattening FarmProject of Hainan XinliuAgricultural ReclamationHaikou Ecology andEnvironmentBureauDec.15,2020 H.H.S. [2020] No.177HainanChangjiangXinliu BreedingCo., Ltd.Reply of the Department ofEcology and Environment of HailanProvince on EIS of New HopeLiuhe Baishanma Pig BreedingBase Supporting Fattenning Projectin Shiyuetian Town, ChangjiangDepartment ofEcology andEnvironment ofHailan ProvinceDec.22,2021 Q.H.H. [2021] No.398Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.142CountyHainan LingaoXinliu BreedingCo., Ltd.Reply of the Department ofEcology and Environment of HailanProvince on EIS of Pig FarmProject in Gancai Village, PolianTown, Lingao County, HainanProvinceDepartment ofEcology andEnvironment ofHailan ProvinceDec.27,2021 Q.H.H. [2021] No.406Laibin XinhaoFarming Co.,Ltd.Reply of Laibin EnvironmentalProtection Bureau on EIS ofGuangxi Laibin 800,000Commercial Pigs ProjectLaibinEnvironmentalProtection BureauSept.7,2017 L.H.S. [2017] No.67XiangzhouXinhaoFarming Co.,Ltd.Reply of Laibin Ecology andEnvironment Bureau on the EIS ofMumen In-house Fattening Projectin Maping Town, XiangzhouCountyLaibin Ecology andEnvironmentBureauSept.3,2020 L.H.S. [2020] No.68Reply of Xiangzhou CountyEnvironmental Protection Bureauon the EIS of Xiangzhou CountyNew Hope Pig Breeding BusinessProjectXiangzhou CountyEnvironmentalProtection BureauOct.15,2018 S.H.S. [2018] No.25Reply of Laibin Xingbin Ecologyand Environment Bureau on the EISof 180,000/a Hogs (Breeding andFarming Cycle) Farm Project inChenliu Village, Shiling Town,Laibin, GuangxiLaibin XingbinEcology andEnvironmentBureauApr.29,2019 X.H.S. [2019] No.36Hezhou XinhaoFarming Co.,Ltd.Reply of Hezhou Ecology andEnvironment Bureau on the EIS ofNew Hope Liuhe EcologicalBreeding Cycle Integration Projectin Pinggui District, HezhouHezhou Ecologyand EnvironmentBureauJan.6,2020 H.H.S. [2020] No.1Guigang XinliuFarmingTechnologyCo., Ltd.Reply of Guigang Ecology andEnvironment Bureau on the EIS of21,000 Breeding Pigs EcologicalBreeding Business Project in MapiTownship, GuipingGuigang Ecologyand EnvironmentBureauApr.8,2020 G.H.S. [2020] No.7Reply of Guigang Ecology andEnvironment Bureau on the EIS ofthe Fast Pig Farm EcologicalBreeding Project in Jiahe Village,Mapi Township, GuipingGuigang Ecologyand EnvironmentBureauJan.4,2020 G.H.S. [2021] No.1Laibin XinhaoFarming Co.,Ltd.Reply of Laibin Xingbin Ecologyand Environment Bureau on the EISof 180,000/a Hogs (Breeding andFarming Cycle) Farm Project inChenliu Village, Shiling Town,Laibin, GuangxiLaibin XingbinEcology andEnvironmentBureauApr.29,2019 X.H.S. [2019] No.36LuochengXinhaoFarming Co.,Ltd.Reply of Hechi Ecology andEnvironment Bureau on the EIS ofNew Hope Liuhe EcologicalBreeding Cycle Pig BreedingProject in Luocheng County, HechiHechi Ecology andEnvironmentBureauDec.24,2019 H.H.S. [2019] No.51Lipu XinhaoFarmingTechnologyCo., Ltd.Reply on the EIS of Pig BreedingConstruction Project of LipuXinhao Farming Technology Co.,Ltd.Guilin Bureau ofAdministrativeExamination andApprovalAug.12,2020 S.S.P.H.P.X.K. [2020] No.12Liuzhou XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of New HopeRural Revitalization Pig BreedingCycle Project (Phase I) in LiushanTown, Liunan DistrictLiuzhou Bureau ofAdministrativeExamination andApprovalMay 6,2020 L.S.H.C.S.Zi (2020) No.86NingmingXinhaoFarming Co.,Ltd.Reply of Chongzuo Ecology andEnvironment Bureau on the EIS ofNew Hope Liuhe Pig BreedingBusiness Project in NingmingCountyChongzuo Ecologyand EnvironmentBureauDec.4,2019 C.H.S. [2019] No.29Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.143NanningXinhaoFarming Co.,Ltd.Reply of Nanning Jiangnan DistrictEnvironmental Protection Bureauon the EIS of the 5,000 mu ModernAgriculture Industrial Park PovertyAlleviation Project (19,200Breeding Pigs Farm and SupportingPig Farm Ecological BreedingProject) of Guangxi NanningLvmushan Pig Industry Co., Ltd. inJiangxi Town, Jiangnan District,NanningNanning JiangnanDistrictEnvironmentalProtection BureauJan.4,2019; Letterof Change on Sept.27,2019J.H.P.Zi [2019] No.1Nanning XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of the 7,500 SowsFarm Project in Xisheng Village,Liangqing District, NanningNanning Bureau ofAdministrativeExamination andApprovalJun.1,2020 N.S.H.J. [2020] No.60NanningWuming XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of the 40,000Ecological Pig Base Project inWuming Distrct, Nanning/ Letteron Consent to Change of the Ownerof the EIS of the 40,000 EcologicalPig Base Project in WumingDistrct, NanningNanning WumingDistrictEnvironmentalProtection BureauMay 28,2018; Jan.6,2020 N.W.H.J. [2018] No.34Nanning XinliuFarming Co.,Ltd.Reply on the EIS of the 6,000 SowFarm Project in Nali Village,Datang Town, Liangqing District,NanningNanning Bureau ofAdministrativeExamination andApprovalJun.13,2022 N.S.H.J. (2022) No.45Xiajiang XinliuFarming Co.,Ltd.Reply on the EIS of the Eco-cycleFarming community Project ofJiangxi Xinwang AgriculturalDevelopment Co. Ltd. in GepingTownship, Xiajiang CountyJi’an EnvironmentalProtection Bureau Jan.22,2019 J.S.H.P.Zi [2019] No.14Yingtan XinliuTechnologyCo., Ltd.Reply of Yingtan Ecology andEnvironment Bureau on the EIS ofthe Large-scale Fattening Pig FarmProject of Yingtan XinliuTechnology Co., Ltd. in MaquanTown, Yujiang DistrictYingtan Ecologyand EnvironmentBureauDec.31,2020 Y.H.H. Zi [2020] No.128Reply of Yingtan Ecology andEnvironment Bureau on the EIS ofthe 150,000/a Pig Breeding Projectof Yingtan Xinliu Technology Co.,Ltd.Yingtan Ecologyand EnvironmentBureauDec.16,2020 Y.H.H. Zi [2020] No.116Jiangxi NewHope LiuheFarmingTechnologyCo., Ltd.Reply of Yichun Ecology andEnvironment Bureau on the EIS ofthe 300,000/a Pig FarmConstruction Project of JiangxiNew Hope Farming TechnologyCo., Ltd.Yichun Ecology andEnvironmentBureauMar.12,2021 Y.H.H.P. [2021] No.17Wannian NewHope LiuheFarming Co.,Ltd.Reply on the EIS of 6,750/aBreeding Sows & 150,000/a Pig(Commercial Pig) and OtherBreeding Projects of Wannian NewHope Liuhe Farming Co., Ltd.Shangrao Ecologyand EnvironmentBureauDec.31,2020 R.H.P.Zi [2020] No.120TongchengXinliu FarmingTechnologyCo., Ltd.Reply of Anqing Ecology andEnvironment Bureau on the EIS ofthe 72,000 Pigs Fattening FarmProject at Qipanling Village,Fangang Town, TongchengAnqing Ecologyand EnvironmentBureauSept.22,2020 Y.H.J.H. [2020] No.53Reply of Anqing Ecology andEnvironment Bureau on the EIS ofthe 300,000/a Pig Farm Project atXiangshan Village, Xindu Town,TongchengAnqing Ecologyand EnvironmentBureauSept.23,2020 Y.H.J.H. [2020] No.54Ruyuan YaoAutonomousCounty XinhaoReply on the EIS of the FarmConstruction Project of RuyuanYao Autonomous County XinhaoShaoguan Ecologyand EnvironmentBureau RuyuanJan.5,2021 R.H.S. [2021] No.2Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.144Farming Co.,Ltd.Farming Co., Ltd. BranchGuangdongXinhaoZhengheFarming Co.,Ltd.Reply of Shaoguan EnvironmentalProtection Bureau on the EIS ofLonggui Breeding Pig FarmConstruction Project of GuangdongXinhao Zhenghe Farming Co., Ltd./Reply of Shaoguan EnvironmentalProtection Bureau on theApplication for Changing theProject Construction Unit ofGuangdong Xinhao ZhengheFarming Co., Ltd.ShaoguanEnvironmentalProtection BureauJun.30,2017; Sept.3,2018 S.H.S. [2017] No.111ZhaoqingXinhaoFarming Co.,Ltd.Approval Opinions of ZhaoqingEcology and Environment Bureauon the EIS of Shidong Jinhua FarmConstruction Project of ZhaoqingXinhao Farming Co., Ltd.Zhaoqing Ecologyand EnvironmentBureauApr.22,2020 Z.H.J. [2020] No.12Longhai NewHope LiuheFarming Co.,Ltd.Reply of Zhangzhou LonghaiEcology and Environment Bureauon the EIS of the Modern Eco-cycleAgricultural Industrial Park Phase Iof Longhai New Hope LiuheFarming Co., Ltd.Zhangzhou LonghaiEcology andEnvironmentBureauDec.10,2020 L.H. [2020] No.92Quzhou YihaiAgricultureCo., Ltd.Review Opinions on the EIS ofFine Pig Ecological Breeding BaseProject of Zhejiang YihaiAgricultural Development Co. Ltd.Quzhou Ecologyand EnvironmentBureauMar.2020 Q.J.H.J. [2020] No.7Ningbo NewHope LiuheFarming Co.,Ltd.Reply on the EIS of ZhejiangNingbo Fenghua Hog Eco-cycleBreeding Base Project of NingboNew Hope Liuhe Livestock Co.,Ltd.Ningbo Ecologyand EnvironmentBureau FenghuaBranchJul.2020 F.H.J.G.Z.C.N. [2020] No.1Rui'an NewHope LiuheFarming Co.,Ltd.Comments on the Approval of EISof Rui'an New Hope ModernAgricultural Industrial ParkWenzhou Ecologyand EnvironmentBureauJul.2020 W.H.R.J. [2020] No.56HuzhouChangxingHuatongFarming Co.,Ltd.Review Opinions on the EIS of the100,000 Pig Farm Project ofChangxing Huatong Farming Co.,Ltd. in Lincheng TownHuzhou Ecologyand EnvironmentBureauApr.2021 H.C.H.J. [2021] No.34Fuping XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of the 60,000Fattening Pig Breeding Project ofFuping County Xinqiang LivestockCo., Ltd.Baoding Ecologyand EnvironmentBureau FupingCounty BranchOct.15,2020 F.H.S. (2020) No.5ZhangjiakouXinwangFarming Co.,Ltd.Comments on the Approval of theEIS of the 300,000 Hogs ClusterDevelopment Project in YangyuanCountyZhangjiakou Bureauof AdministrativeExamination andApprovalSept.6,2018 Z.X.S.S. [2018] No.189Hebei XinhaoFuchengAgriculturalTechnologyCo., Ltd.Reply on the EIS of the 12,000/aNurturing and Fattening FarmProject of Hebei Xinhao FuchengAgricultural Technology Co., Ltd.in XindiGucheng CountyEnvironmentalProtection BureauJun.26,2019 G.H.P. [2019] No.003Reply on the EIS of the 24,000/aNurturing and Fattening FarmProject of Hebei Xinhao FuchengAgricultural Technology Co., Ltd.in PipotunGucheng CountyEnvironmentalProtection BureauJun.26,2019 G.H.P. [2019] No.002EIS of Qianhuayuan GrandparentalPig Farm Project of Hebei XinhaoFucheng Agricultural TechnologyCo., Ltd.Gucheng CountyEnvironmentalProtection BureauNov.2017 G.H.P. [2017] No.022EIS of the 6,000/a HouhuayuanParental Pig Farm Project of HebeiGucheng CountyEnvironmental Dec.2017 G.H.P. [2017] No.037Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.145Xinhao Fucheng AgriculturalTechnology Co., Ltd.Protection BureauEIS of the 6,000/a YangwutouParental Pig Farm Project of HebeiXinhao Fucheng AgriculturalTechnology Co., Ltd.Gucheng CountyEnvironmentalProtection BureauJan.31,2018 G.H.P. [2018] No.001RaoyangXinhaoFarming Co.,Ltd.Reply on the EIS of the 7,500/aDongliuzhuang Sow Farm ProjectRaoyang CountyEnvironmentalProtection BureauDec.11,2018 R.H.P. [2019] No.6Jing CountyXinhaoFarming Co.,Ltd.Reply on the EIS of the 7,500/aXizhiyao Breeding Pig FarmProject of Hebei Xinhao FuchengAgricultural Technology Co., Ltd.Jing County Bureauof AdministrativeExamination andApprovalJun.5,2018 J.H.P. [2018] No.36Tianjin XinliuFarmingTechnologyCo., Ltd.Disclosure Commitment Decisionof the EIS of the 216,000 PigsFattening Project in Nanheshun,Xiaowangzhuang Town, BinhaiNew Area, TianjinTianjin Binhai NewArea Bureau ofAdministrativeExamination andApprovalJan.29,2021 J.B.S.P.E.S.Z. [2021] No.28Tianjin NewHope LiuheFarmingTechnologyCo., Ltd.Disclosure Commitment Decisionof the EIS of the 13,500 SowsBreeding Project in HongxingVillage, Taiping Town, Binhai NewArea, TianjinTianjin Binhai NewArea Bureau ofAdministrativeExamination andApprovalApr.20,2021 J.B.S.P.E.S.Z. [2021] No.127Beijing XinliuFarming Co.,Ltd.Reply on the EIS of New HopeBeijing Intelligent Pig Farm ProjectBeijing PingguDistrict Ecologyand EnvironmentBureauDec.7,2020 J.P.H.S. [2020] No.43DongyingXinhao ModernFarming Co.,Ltd.Reply on the EIS of the 180,000Commercial Pigs Project ofDongying Xinhao Modern FarmingCo., Ltd. in Niuzhuang Town,Dongying DistrictDongyingEnvironmentalProtection BureauDongying BranchJun.24,2020 D.H.D.F.S. [2020] No.4Reply on the EIS of the Phase IIFarm of Dongying Xinhao ModernFarming Co., Ltd. in Longju Town,Dongying DistrictDongyingEnvironmentalProtection BureauDongying BranchJun.24,2020 D.H.D.F.S. [2020] No.2Xiajin NewHope LiuheFarming Co.,Ltd.Reply of Dezhou EnvironmentalProtection Bureau on the EIS of the340,000/a Commercial PigsIntegrated Core Pig BreedingProject of Dezhou New Hope LiuheFarming Co., Ltd. in Xiajin County,DezhouDezhouEnvironmentalProtection BureauDec.9,2013 D.H.B.Zi [2013] No.205Acceptance Opinions onEnvironmental Protection uponCompletion of Solid WastePollution Control Facilities of the340,000/a Commercial PigsIntegrated Core Pig BreedingProject of Dezhou New Hope LiuheFarming Co., Ltd. in Xiajin County,DezhouXiajin CountyEnvironmentalProtection BureauApr.15,2019 X.H.Y. [2019] No.27Reply on the EIS of theCommercial Pig Breeding ProjectPhase III of Xiajin New HopeLiuhe Farming Co., Ltd.Xiajin CountyEnvironmentalProtection BureauAug.27,2019 X.H.B.G.S. [2019] No.3Xiajin NewHope LiuheBreeding Co.,Ltd.Reply of Dezhou EnvironmentalProtection Bureau on the EIS of theNurturing Farm Project of XiajinNew Hope Liuhe Farming Co., Ltd.DezhouEnvironmentalProtection BureauMay 27,2015 D.H.B.Zi [2015] No.139Acceptance Opinions onEnvironmental Protection uponCompletion of Solid WastePollution Control Facilities of theNurturing Farm Project of XiajinXiajin CountyEnvironmentalProtection BureauApr.15,2019 X.H.Y. [2019] No.28Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.146New Hope Liuhe Farming Co., Ltd.LiaochengXinhaoFarming Co.,Ltd.Reply on the EIS of the 500,000/aFattening Farm ConstructionProject in Yanggu County,ShandongYanggu CountyEnvironmentalProtection BureauDec.5,2017 Y.H.S. [2017] No.287Dong’e NewHope LiuheSwine BreedingCo., Ltd.Reply on the EIS of the New HopeLiuhe Swine Breeding ConstructionProject of Dong’e New Hope LiuheSwine Breeding Co., Ltd.Dong’e CountyEnvironmentalProtection BureauMay 8,2018 D.H.S. [2018] No.4Reply on the EISDisclosureCommitment of Commercial PigFarm 1 Project of Dong’e CountyNew Hope Liuhe Swine BreedingCo., Ltd.Dong’e CountyEnvironmentalProtection BureauNov.3,2020 D.X.S.B.G.S. [2020] No.36Reply on the EISDisclosureCommitment of Commercial PigFarm 2 Project of Dong’e CountyNew Hope Liuhe Swine BreedingCo., Ltd.Dong’e CountyEnvironmentalProtection BureauDec.4,2020 D.X.S.B.G.S. [2020] No.47Yucheng NewHope LiuheSwine BreedingCo., Ltd.Reply on the EIS of the 6,000 PigsStandardized Farm Project ofYucheng New Hope Liuhe SwineBreeding Co., Ltd.YuchengEnvironmentalProtection BureauOct.31,2018 Y.H.B.G.S. [2018] No.6Linyi LiuheBreeding PigCo., Ltd.Reply on the EIS of Piglet BreedingConstruction Project of Linyi LiuheFood Co., Ltd.Linyi CountyEnvironmentalProtection BureauMar.25,2008 L.H.B.G.B. [2008] No.5Reply on the EnvironmentalProtection Acceptance uponCompletion of the Breeding PigFarm Construction and BoilerProject of Linyi Liuhe Breeding PigCo., Ltd.Linyi CountyEnvironmentalProtection BureauNov.24,2010 L.H.Y. [2010] No.24GaotangCounty XinhaoFarming Co.,Ltd.Reply on the EIS of the BreedingPig Farm Project of GaotangCounty Xinhao Farming Co., Ltd.Gaotang CountyEnvironmentalProtection BureauSept.27,2017 G.H.S. [2017] No.5Reply on the EIS of the 200,000/aCommercial Pigs Project ofGaotang County Xinhao FarmingCo., Ltd.Gaotang CountyEnvironmentalProtection BureauDec.20,2019 G.H.S. [2019] No.7Jiaxiang XinliuSwine BreedingCo., Ltd.Reply on the EIS of the 9,000Swines Breeding Project ofJiaxiang County New Hope LiuheSwine Breeding Co., Ltd.Jiaxiang CountyEnvironmentalProtection BureauApr.2017 J.H.S. (2017) No.4Reply on the EnvrionmentalProtection Acceptance uponCompletion of the 9,000 SwinesBreeding Project of JiaxiangCounty New Hope Liuhe SwineBreeding Co., Ltd.Jiaxiang CountyEnvironmentalProtection BureauDec.30,2019 J.H.Y. (Jiaxiang) (2019)No.84ShandongLiuhe YinbaoBreeding Co.,Ltd.Reply on the EIS of theConstruction Project of ShandongLiuhe Yinbao Breeding Co., Ltd.FeichengEnvironmentalProtection BureauAug.9,2006 /Juye XinhaoFarming Co.,Ltd.400,000/a Hogs Breeding andFarming Ecocycle AgriculturalConstruction ProjectJuye CountyEnvironmentalProtection BureauJun.2020 J.X.S. (2020) H.B. No.051Heze XinhaoFarming Co.,Ltd.Reply on the EIS of the 100,000/aCommercial Pigs Project of HezeXinhao Farming Co., Ltd. atLiangtangShandong HezeDingtao DistrictEnvironmentalProtection BureauDec.27,2018 D.H.B.G.S. (2018) No.6Cao CountyXinhaoFarming Co.,Ltd.Reply on the EIS of the 350,000/aHogs Breeding Project of HezeXinhao Farming Co., Ltd. atLiangditou TownCao CountyEnvironmentalProtection BureauApr.20,2019 C.H.S. (2019) No.1Reply on the EIAStandards for the350,000/a Hogs Breeding Project ofCao CountyEnvironmental Mar.7,2019 C.H.H. (2019) No.1Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.147Heze Xinhao Farming Co., Ltd. atLiangditou TownProtection BureauShan CountyXinhaoFarming Co.,Ltd.EIS of the 200,000/a HogsBreeding + Planting EcocycleAgriculture Project of Shan CountyXinhao Farming Co., Ltd.Shan CountyEnvironmentalProtection BureauJun.2020 S.X.S.T. [2020] No.164ChangyiXinhaoLivestock Co.,Ltd.Reply on the EIS of the 250,000/aCommercial Piglets Project ofChangyi Xinhao Livestock Co.,Ltd.Weifang Ecologyand EnvironmentBureau ChangyiBranchJun.27,2019 C.H.S.S. (2019) No.4ZhuchengXinliu FarmingTechnologyCo., Ltd.Environmental ProtectionAcceptance Report of the 300,000/aHogs Breeding Project of ZhuchengXinliu Farming Technology Co.,Ltd.ZhuchengEnvironmentalProtection BureauOct.19,2020 Z.H.S.B.G.S. [2020] No.15Wulian XinhaoFarming Co.,Ltd.Reply on the EISDisclosureCommitment of the Breeding andFarming Integrated EfficientEcological Demonstration ParkProject of Wulian Xinhao FarmingCo., Ltd.Wulian CountyBureau ofAdministrativeServicesJun.18,2020 L.S.P. [2020] No.180Laixi NewHope LiuheFarming Co.,Ltd.Comments on EIADisclosureCommitment Approval of the Sowand Fattening Farm Project of LaixiNew Hope Liuhe Farming Co., Ltd.in Xixiagezhuang Village,Xiagezhuang TownQingdao Ecologyand EnvironmentBureau LaixiBranchOct.14,2020 X.H.C.N.S. (2020) No.49Comments on EIADisclosureCommitment Approval of the Sowand Fattening Farm Project (PhaseI) of Laixi New Hope LiuheFarming Co., Ltd. in CuijiazhuangVillage, Xiagezhuang TownQingdao Ecologyand EnvironmentBureau LaixiBranchFeb.5,2021 X.H.C.N.S. (2021) No.4Laiyang XinhaoLivestock Co.,Ltd.Reply on the EIS of the 300,000/aHogs Breeding Project of LaiyangXinhao Livestock Co., Ltd. inDakuang DownLaiyangEnvironmentalProtection BureauAug.4,2017 L.H.F. [2017] No.86Laiyang XinmuBreeding Co.,Ltd.Reply on the EIS of the HogsBreeding Base Construction Projectof Yantai Fuzu Livestock BreedingCo., Ltd. No.2 BranchLaiyangEnvironmentalProtection BureauMay 25,2015 L.H.F. [2015] No.32Reply on the Application of EIAProcedure of Yantai Fuzu LivestockBreeding Co., Ltd. No.1/2/3/5/6Branch to Laiyang Xinmu BreedingCo., Ltd.Yantai Ecology andEnvironmentBureau LaiyangBranchNov.11,2019 L.H.P.H. [2019] No.17Yantai XinhaoFarming Co.,Ltd.Reply on the EISDisclosureCommitment of the Breeding PigFarm Project of Yantai XinhaoFarming Co., Ltd.Yantai Ecology andEnvironmentBureau MupingBranchSept.29,2020 M.H.C.N.S. [2020] No.16Reply on the EISDisclosureCommitment of the In-house PigFattening Breeding Base Project ofYantai Xinhao Farming Co., Ltd.Yantai Ecology andEnvironmentBureau MupingBranchSept.29,2020 M.H.C.N.S. [2020] No.15Laizhou NewHope LiuheFarming Co.,Ltd.Reply on the EISDisclosureCommitment of the 13,500/aStoried Building Sows Breedingand Farming Integrated Project ofLaizhou New Hope Liuhe FarmingCo., Ltd. in Nanxiang Village,Chengguo Town, LaizhouLaizhouEnvironmentalProtection BureauNov.2,2020 L.H.S. [2020] No.170Environmental ProtectionAcceptance Report for theCompletion of the 13,500/a StoriedBuilding Sows Breeding andFarming Integrated Project inShandongHengcheng TestingTechnology Co.,Ltd.Nov.2,2020 L.H.S. [2020] No.170Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.148Nanxiang Village, Chengguo Town,LaizhouLaizhou XinhaoLivestock Co.,Ltd.Environmental ProtectionAcceptance Monitoring Report forthe Completion of the 72,000/aHogs Fattening Farm ConstructionProject in Laizhou of LaizhouXinhao Livestock Co., Ltd.Yantai Ecology andEnvironmentBureau LaizhouBranchFeb.2021 L.H.S. [2019] No.92ZhaoyuanXinmuBreeding Co.,Ltd.Reply on the EISDisclosureCommitment of the 36,000/aFattening Project of ZhaoyuanXinmu Breeding Co., Ltd.Yantai Ecology andEnvironmentBureau ZhaoyuanBranchMar.29,2021 Z.H.C.N.S. [2021] No.3Rugao XinhaoFarming Co.,Ltd.Comments of the Municipal Bureauof Administrative Examination andApproval on Change of the Subjectand Adjustment of Some Items ofRugao Kanghua LivestockTechnology Co., Ltd.Rugao Bureau ofAdministrativeExamination andApprovalNov.15,2016 G.H.F. [2014] No.80YanchengZhongtaiLivestock Co.,Ltd.Approval Opinions on the EIS ofthe Hog Farming Project (SilkwormSeed Farm) of Yancheng ZhongtaiLivestock Co., Ltd.Yancheng DafengDistrict Bureau ofAdministrativeExamination andApprovalFeb.2,2019 D.X.S.H.S. (2019) No.1Pizhou NewHope FarmingCo., Ltd.Reply on the EIS of the HotFarming Project of Pizhou NewHope Liuhe Farming Co., Ltd.Xuzhou Ecologyand EnvironmentBureauFeb.1,2021 X.P.H.X.S. [2021] No.001Nanjing XinmuFarming Co.,Ltd.Reply on the EIS of the 60,000/aHogs Business Project of NanjingXinmu Farming Co., Ltd.Nanjing Ecologyand EnvironmentBureauJul.31,2020 N.H.J.G. (2020) No.1801Zhenjiang NewHope FarmingCo., Ltd.Reply on the EIS of the 150,000/aHogs Standardized Farming Projectof Zhenjiang New Hope LiuheFarming Co., Ltd.Zhenjiang Ecologyand EnvironmentBureauAug.13,2020 Z.H.S. (2020) No.68Wuhe NewHope LiuheLivestock Co.,Ltd.Reply on the EIS of the 72,000/aPigs Project of Suixi CountyXinhao Farming Co., Ltd.Huanbei Ecologyand EnvironmentBureauJun.18,2020 H.H.X. [2020] No.12Reply on the EIS of the 24,000 PigsFattening Farm Project of WuheNew Hope Liuhe Livestock Co.,Ltd. in Dongxiaoliu Village,Shuangzhongmiao TownBengbu Ecologyand EnvironmentBureauJun.1,2020 W.H.X. [2020] No.23Reply on the EIS of the 24,000 PigsFattening Farm Project of WuheNew Hope Liuhe Livestock Co.,Ltd. in Qiaozhang Village, ShenjiTownBengbu Ecologyand EnvironmentBureauJun.1,2020 W.H.X. [2020] No.22Reply on the EIS of the13,500Sows and 72,000 Pigs FatteningFarm Project of Wuhe New HopeLiuhe Livestock Co., Ltd. atChanghuan Garden, ChengguanTownBengbu Ecologyand EnvironmentBureauSept.22,2020 W.H.X. [2020] No.39Reply on the EIS of the 60,000 PigsFattening Farm Project of WuheNew Hope Liuhe Livestock Co.,Ltd. in Dengxuzi Village,Shuangzhongmiao TownBengbu Ecologyand EnvironmentBureauJun.10,2020 W.H.X. [2020] No.25Reply on the EIS of the 13,500Sows Farm Project of Wuhe NewHope Liuhe Livestock Co., Ltd. inHuojia Village, Xiaoxi TownBengbu Ecologyand EnvironmentBureauJul.23,2020 W.H.X. [2020] No.32Reply on the EIS of the 36,000 PigsFattening Farm Project of WuheNew Hope Liuhe Livestock Co.,Ltd. in Guotai Village, Daxin TownBengbu Ecologyand EnvironmentBureauDec.2,2020 W.H.X. [2020] No.51Reply on the EIS of the 48,000 Pigs Bengbu Ecology Jun.1,2020 W.H.X. [2020] No.24Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.149Fattening Farm Project of WuheNew Hope Liuhe Livestock Co.,Ltd. in Zhuyu Village, WuqiaoTownand EnvironmentBureauReply on the EIS of the 13,500Sows Farm Project of Wuhe NewHope Liuhe Livestock Co., Ltd. inTuohe Village, Dongliuji TownBengbu Ecologyand EnvironmentBureauMay 26,2021 W.H.X. [2021] No.18Reply on the EIS of the 13,500Sows and 24,000 Pigs FatteningFarm Project of Wuhe New HopeLiuhe Livestock Co., Ltd. in JiangjiVillage, Wuqiao TownBengbu Ecologyand EnvironmentBureauSept.28,2020 W.H.X. [2020] No.40Shibing CountyNew HopeLiuhe BreedingCo., Ltd.Reply of Qiandongnan PrefectureEnvironmental Protection Bureauon the EIS of the 6,000 Two-wayCross-bred Sows and Piglets FarmConstruction Project of GuizhouShibing County Precision PovertyAlleviation “Enterprises + Farmers”ProgramQiandongnanPrefectureEnvironmentalProtection BureauOct.23,2020 Q.D.N.H.S. [2018] No.11Reply of Qiandongnan PrefectureEcology and Environment Bureauon the EIS of the “Enterprises +Farmers” Sows and Piglets FarmConstruction Project in ShuangjingTown, Shibing County,Qiandongnan Prefecture, GuizhouProvinceQiandongnanPrefecture Ecologyand EnvironmentBureauFeb.21,2020 Q.D.N.H.G.S. [2020] No.1Reply of Qiandongnan PrefectureEcology and Environment Bureauon the EIS of the Commercial PigFattening “Precision PovertyAlleviation” Project in NiudachangTown, Shibing CountyQiandongnanPrefecture Ecologyand EnvironmentBureauApr.29,2020 Q.D.N.H.G.S. [2020] No.45ZhenyuanXinmuAgriculturalDevelopmentCo., Ltd.Reply of Qiandongnan PrefectureEcology and Environment Bureauon the EIS of the XinmuStandardized Hog Farming Projectin Zhenyuan CountyQiandongnanPrefecture Ecologyand EnvironmentBureauOct.21,2020 Q.D.N.H.G.S. (2020) No.36Bijie XinliuFarming Co.,Ltd.Reply of Bijie Ecology andEnvironment Bureau on the EIS ofthe 200,000 Hogs Breeding Projectin Qixingguan DistrictBijie Ecology andEnvironmentBureauJul.28,2020 B.H.F. [2020] No.6Xingren XinliuFarmingTechnologyCo., Ltd.Reply of Qianxinan PrefectureEcology and Environment Bureauon the EIS of the Swine BreedingBase Construction Project inPanjiazhuang Town, Xingren CityQianxinanPrefecture Ecologyand EnvironmentBureauJul.28,2020 Z.H.S. (2020) No.17Panzhou XinliuFarmingDevelopmentCo., Ltd.Reply of Liupanshui Ecology andEnvironment Bureau on the EIS ofthe Pig Fattening Project inLuojiatian Village, Panzhou,GuizhouLiupanshui Ecologyand EnvironmentBureauJul.28,2020 L.P.S.H.S. [2020] No.39GuanlingXinmuBreeding Co.,Ltd.Reply of Anshun Ecology andEnvironment Bureau on the EIS ofXinmu Standardized Pig Breeding(Yongning Town Kangzhai750GP+6000PS) Project inGuanling CountyAnshun Ecologyand EnvironmentBureauJan.20,2020 A.H.S.P.F. [2020] No.15Reply of Anshun Ecology andEnvironment Bureau on the EIS ofthe 18,000 Fattening Farm Projectin Xinzhai Village, Puli Township,Guanling CountyAnshun Ecologyand EnvironmentBureauJan.8,2020 A.H.S.P.F. [2020] No.14Reply of Anshun Ecology and Anshun Ecology Apr.20,2020 A.H.S.P.F. [2020] No.16Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.150Environment Bureau on the EIS ofthe 18,000 Fattening Farm Projectin Yongmu Village, HuajiangTown, Guanling Countyand EnvironmentBureauGansu XinliuFarmingTechnologyCo., Ltd.Reply of Jiuquan Ecology andEnvironment Bureau YumenBranch on the EIS of the 300,000/aHogs Breeding and FarmingIntegrated Project of Gansu XinliuFarming Technology Co., Ltd.Jiuquan Ecologyand EnvironmentBureau YumenBranchApr.20,2020 Y.H.F. [2020] No.3Gansu NewHope LiuheFarming Co.,Ltd.X.H.C.N.F. [2020] No.1 Reply onthe EIS of the New 700,000/a HogsProject in Xicha Town, LanzhouNew DistrictLanzhou NewDistrict Ecologyand EnvironmentBureauJan.3,2018 X.H.C.N.F. [2020] No.1X.H.C.N.F. [2020] No.10 Replyon the EIS of Gansu New HopeFarm 1 in Pingxian VillageLanzhou NewDistrict Ecologyand EnvironmentBureauMay 12,2020 X.H.C.N.F. [2020] No.10X.H.C.N.F. [2020] No.11 Replyon the EIS of Gansu New HopeFarm 12 in Pingxian VillageLanzhou NewDistrict Ecologyand EnvironmentBureauJan.3,2020 X.H.C.N.F. [2020] No.11Anyang XinliuTechnologyCo., Ltd.Reply on the EIS of Anyang XinliuTechnology Co., Ltd.AnyangEnvironmentalProtection BureauDec.4,2018 A.H.R.S. [2017] No.4QingfengXinliu FarmingTechnologyCo., Ltd.Reply on the EISDisclosureCommitment Approval Applicationof the 13,500/a Breeding PigsFeeding Project of Qingfeng XinliuFarming Technology Co., Ltd.Puyang Ecologyand EnvironmentBureauJul.3,2020 P.H.S. (2020) No.23Taiqian XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of the 13,500Sows Farm Project of TaiqianXinliu Farming Technology Co.,Ltd.Puyang Ecologyand EnvironmentBureauJul.3,2020 P.H.S. [2020] No.1Lingbao XinliuFarming Co.,Ltd.Approval Opinions on the EIS ofthe 150,000/a Piglets Breeding andFarming Integrated Eco-industrialPark Project of Lingbao XinliuFarming Co., Ltd.LingbaoEnvironmentalProtection BureauOct.12,2020 L.H.S. [2018] No.66Puyang XinliuFarmingTechnologyCo., Ltd.Reply on the EISDisclosureCommitment Approval Applicationof the 100,000/a Hogs BreedingProject of Puyang Xinliu FarmingTechnology Co., Ltd.Puyang Ecologyand EnvironmentBureauMay 7,2020 P.H.S. (2020) No.32Reply on the EISDisclosureCommitment Approval Applicationof the 200,000/a Hogs BreedingProject of Puyang Xinliu FarmingTechnology Co., Ltd.Puyang Ecologyand EnvironmentBureauSept.14,2020 P.H.S. (2020) No.31RuzhouQuanshengFarmingTechnologyCo., Ltd.Reply on the EISDisclosureCommitment Approval Applicationof the 72,000/a Pigs FarmConstruction Project of RuzhouQuansheng Farming TechnologyCo., Ltd.RuzhouEnvironmentalProtection BureauSept.27,2017 R.H.S.P. [2020] No.18Reply on the EISDisclosureCommitment Approval Applicationof the 13,500/a Swines FarmConstruction Project of RuzhouQuansheng Farming TechnologyCo., Ltd.RuzhouEnvironmentalProtection BureauDec.24,2019 R.H.S.P. [2020] No.8Reply on the EISDisclosureCommitment Approval Applicationof the 48,000/a Pigs FarmConstruction Project of RuzhouQuansheng Farming TechnologyRuzhouEnvironmentalProtection BureauDec.24,2019 R.H.S.P. [2020] No.15Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.151Co., Ltd.Reply on the Application forEnvironmental ProtectionAcceptance upon Completion of the50,000/a Hogs Breeding BaseConstruction Project of ZhengzhouQuansheng Farming TechnologyCo., Ltd.ZhengzhouEnvironmentalProtection BureauApr.24,2020 Z.H.Y. [2017] No.60Hubei XinhaoFarming Co.,Ltd.Reply on the EIS of the HogBreeding Project of Hubei XinhaoFarming Co., Ltd. in GulingVillage, Wangcheng TownXiangyang Ecologyand EnvironmentBureauDec.24,2019 X.H.S.P. [2019] No.26Reply on the EIS of the HogBreeding Project of Hubei XinhaoFarming Co., Ltd. in LuohanVillage and Luosigang Village,Wangcheng TownXiangyang Ecologyand EnvironmentBureauNov.12,2020 X.H.S.P. [2019] No.27YinchengXinhaoFarming Co.,Ltd.Reply of Xiaogan Ecology andEnvironment Bureau on the EIS ofthe Hog Breeding Project inXuzhou Village, Sanhe TownXiaogan Ecologyand EnvironmentBureauJan.7,2021 X.H.H. 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[2015] No.10Santai NewHope FarmingTechnologyCo., Ltd.Sanwan PigFarmReply of Santai CountyEnvironmental Protection Bureauon the EIS of New Hope DongtaSanwan Pig Fattening Farm Projectof Santai Xinhaixin Farming Co.,Ltd.Santai CountyEnvironmentalProtection BureauJan.20,2015 S.H.B. [2015] No.9Santai NewHope FarmingTechnologyCo., Ltd.Xiping PigFarmReply of Mianyang EnvironmentalProtection Bureau on the EIS of thePrime Breeding Pig Farm ofSichuan South Hope Industrial Co.,Ltd.MianyangEnvironmentalProtection BureauSept.10,2009 M.H.H. [2006] No.247Santai NewHope FarmingTechnologyCo., Ltd.Tongzi PigFarmReply of Santai CountyEnvironmental Protection Bureauon the EIS of New Hope JinshiTongzi Pig Fattening Farm Projectof Mianyang New Hope LivestockBreeding Co., Ltd.Santai CountyEnvironmentalProtection BureauNov.10,2020 S.H.B. 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[2018] No.21Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.153ModernFarming Co.,Ltd. HeyangPig Farmon the EIS of the 50,000/a High-quality Commercial Pig BreedingDemonstration Base ProjectProtection BureauWeinanZhengnengFarmingTechnologyCo., Ltd.Heyang XinliuPig FarmReply of Heyang CountyEnvironmental Protection Bureauon the EIAStandards for the 12,000Sows Farm Construction ProjectHeyang CountyEnvironmentalProtection BureauNov.26,2020 H.H.G.Zi [2017] No.15Weinan XinliuTechnologyCo., Ltd.Lindian PigFarmReply of Weinan EnvironmentalProtection Bureau on the EIS ofHog Breeding Project of TibetXinhao Technology Co., Ltd.Weinan Branch in Lindian TownWeinanEnvironmentalProtection BureauApr.9,2019 W.H.P.F. [2019] No.33Weinan XinliuTechnologyCo., Ltd.Sangao PigFarmReply of Weinan Ecology andEnvironment Bureau LinweiBranch on the EISDisclosureCommitment Approval Applicationof the Hog Breeding Project ofWeinan Xinliu Technology Co.,Ltd. in Sangao Village, Gushi TownWeinan Ecologyand EnvironmentBureau LinweiBranchAug.2,2018 W.H.L.F. [2020] No.172Weinan XinliuTechnologyCo., Ltd.Ganquan PigFarmReply of Weinan Ecology andEnvironment Bureau LinweiBranch on the EISDisclosureCommitment Approval Applicationof the Hog Breeding Project ofWeinan Xinliu Technology Co.,Ltd. in Ganquan Village, GushiTownWeinan Ecologyand EnvironmentBureau LinweiBranchDec.29,2016 W.H.L.F. [2020] No.301Weinan XinliuTechnologyCo., Ltd. GushiPig FarmReply of Weinan EnvironmentalProtection Bureau on the EIS of theHog Breeding Project of TibetXinhao Technology Co., Ltd.Weinan Branch in Gushi TownWeinanEnvironmentalProtection BureauDec.22,2020 W.H.P.F. [2019] No.34Yan’anBenyuanAgriculturalTechnologyDevelopmentCo., Ltd.Reply of Luochuan CountyEnvironmental Protection Bureauon the EIS of HuangzhangEcological Pig Breeding BaseProject of Yan’an BenyuanAgricultural TechnologyDevelopment Co., Ltd.Luochuan CountyEnvironmentalProtection BureauDec.22,2020 L.H.H. [2018] No.81Comments of Luochuan CountyEnvironmental Protection Bureauon the EISFiling for Current Statusof the Ecological Pig BreedingProject of Yan’an BenyuanAgricultural TechnologyDevelopment Co., Ltd. in JiuCountyLuochuan CountyEnvironmentalProtection BureauDec.26,2018 L.H.H. [2016] No.104LuochuanXinliuTechnologyCo., Ltd.Reply of Yan’an Bureau ofAdministrative Services on the EISof the New Hog Breeding Project ofLuochuan Xinliu Technology Co.,Ltd. in Wujiao Village, ShitouTownYan’an Bureau ofAdministrativeServicesFeb.27,2020 Y.X.S.C.H.F. [2020] No.189Reply of Yan’an Bureau ofAdministrative Services on the EISof Hog Breeding Project ofLuochuan Xinliu Technology Co.,Ltd. in Beigu Village, YangshuTownshipYan’an Bureau ofAdministrativeServicesDec.31,2016 Y.X.S.C.H.F. [2020] No.190Yijun XinliuTechnologyCo., Ltd.Reply of Tongchuan EnvironmentalProtection Bureau on the EIS of theHog Breeding Project of TibetTongchuanEnvironmentalProtection BureauDec.31,2016 T.H.P.F. [2018] No.240Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.154Xinhao Technology Co., Ltd. YijunBranchWuqi XinliuTechnologyCo., Ltd.Reply on the EIS of the HogBreeding Project of Wuqi XinliuTechnology Co., Ltd.Yan’an Bureau ofAdministrativeServicesOct.25,2016 Y.X.S.C.H.F. [2020] No.27Yangling BesunAgriculturalIndustry GroupCo., Ltd.Reply of Yangling DemonstrationZone Environmental ProtectionBureau on the EIS of the CurrentStatus of Ecological PigletBreeding Base Construction Project(Li’s Pig Farm) of Yangling BesunAgricultural Industry Group Co.,Ltd.YanglingDemonstration ZoneEnvironmentalProtection BureauOct.11,2018 Y.G.H.P.F. [2016] No.66Reply of Yangling DemonstrationZone Environmental ProtectionBureau on the EIS of the CurrentStatus of Ecological PigletBreeding Base (Fattening Base)Construction Project of YanglingBesun Agricultural Industry GroupCo., Ltd.YanglingDemonstration ZoneEnvironmentalProtection BureauSept.25,2020 Y.G.H.P.F. [2016] No.65XianyangYongxiangAgriculturalTechnologyCo., Ltd.Reply of Xianyang EnvironmentalProtection Bureau on theEnvironmental ProtectionAcceptance upon Completion of the4,500 Swines Breeding BaseConstruction Project in YongshouCountyXianyangEnvironmentalProtection BureauOct.25,2016 X.H.P.F. [2016] No.134ShaanxiZhongshanXingwangFarmingTechnologyCo., Ltd.Reply on the EIS of ShaanxiZhongshan Xingwang Farm Projectof Shaanxi Zhongshan XingwangFarming Technology Co., Ltd.Jingyang CountyEnvironmentalProtection BureauOct.11,2018 J.H.H. [2018] No.147Liquan NewHope LiuheFarmingTechnologyCo., Ltd.Reply of Xianyang Bureau ofAdministrative Services on the EISof the Hog Cluster BreedingConstruction Project of LiquanNew Hope Liuhe FarmingTechnology Co., Ltd.Xianyang Bureau ofAdministrativeServicesSept.25,2020 X.X.S.P.F. [2020] No.215KangpingXinwangFarming Co.,Ltd.Reply on the EIS of the 370,000/aHogs Modern AgriculturalIndustrialization ConstructionProject of Kangping XinwangFarming Co., Ltd.Shenyang Ecologyand EnvironmentBureau KangpingBranchApr.26,2019 S.H.K.P.S. Zi [2019] No.007Reply on the EIS of Xiaodong FarmConstruction Project of KangpingXinwang Farming Co., Ltd.Shenyang Ecologyand EnvironmentBureau KangpingBranchDec.5,2019 S.H.K.P.S. Zi [2019] No.034Reply on the EIS of KangliuwangFarm Construction Project ofKangping Xinwang Farming Co.,Ltd.Shenyang Ecologyand EnvironmentBureau KanpingBranchAug.14,2020 S.K.H.S. [2020] No.044Reply on the EIS of KangbawangFarm Construction Project ofKangping Xinwang Farming Co.,Ltd.Shenyang Ecologyand EnvironmentBureau KanpingBranchAug.14,2020 S.K.H.S. [2020] No.046ZhangwuXinwangFarming Co.,Ltd.Reply on the EIS of the Swine FarmConstruction Project of ZhangwuXinwang Farming Co., Ltd. inBaiyingao Village, HouxinqiuTownZhangwu CountyEnvironmentalProtection BureauSept.15,2020 Z.H.H.S. [2020] No.39Reply on the EIS of the FarmConstruction Project of ZhangwuXinwang Farming Co., Ltd. inBaiyingao Village, HouxinqiuZhangwu CountyEnvironmentalProtection BureauNov.24,2020 Z.H.H.S. [2020] No.48Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.155TownReply on the EIS of the FarmConstruction Project of ZhangwuXinwang Farming Co., Ltd. inHanjia Village, Dade TownZhangwu CountyEnvironmentalProtection BureauSept.15,2020 Z.H.H.S. [2020] No.42Reply on the EIS of the Farm IConstruction Project of ZhangwuXinwang Farming Co., Ltd. inHouyaowo Village, Daleng TownZhangwu CountyEnvironmentalProtection BureauSept.15,2020 Z.H.H.S. [2020] No.41Heishan XinliuFarmingTechnologyCo., Ltd.Reply on the EIS of the 13,500Sows Farm Project in Ciyu Village,Xinxing Town, Heishan County,Jinzhou, Liaoning ProvinceHeishan CountyEnvironmentalProtection BureauOct.22,2020 H.H.S.C. [2020] No.10Reply on the EIS of the 72,000 PigsFattening Farm Project in LiuheVillage, Heishan County, LiaoningHeishan CountyEnvironmentalProtection BureauAug.10,2020 H.H.S.C. [2020] No.8Reply on the EIS of the Pig FarmProject in Woniu Village of the670,000/a Hogs Breeding andFarming Integrated Eco-industrialPark Phase IHeishan CountyEnvironmentalProtection BureauDec.17,2019 H.H.S. [2019] No.44Reply on the EIS of the Pig FarmProject in Gaojia Wopu Village ofthe 670,000/a Hogs Breeding andFarming Integrated Eco-industrialPark Phase IHeishan CountyEnvironmentalProtection BureauDec.17,2019 H.H.S. [2019] No.43LiaoningXinwangTechnologyCo., Ltd.Reply on the Adjusted EIS of the300,000/a Hogs ModernAgricultural IndustrializationConstruction Project of LiaoningXinwang Technology Co., Ltd.XinminEnvironmentalProtection BureauJan.23,2019 X.H.H. [2019] No.1Reply on the Adjusted EIS of the500,000/a Hogs ModernAgricultural IndustrializationConstruction Project of LiaoningXinwang Technology Co., Ltd.XinminEnvironmentalProtection BureauJan.23,2019 X.H.H. [2019] No.2Reply on the Adjusted EIS of the18,000 Pigs Fattening ModernAgricultural IndustrializationConstruction Project of LiaoningXinwang Technology Co., Ltd. (inFangshen Village)Shenyang Ecologyand EnvironmentBureau XinminBranchMar.5,2019 X.H.H. [2019] No.4Reply on the Adjusted EIS of the18,001 Pigs Fattening ModernAgricultural IndustrializationConstruction Project of LiaoningXinwang Technology Co., Ltd. (inDongyao Village)Shenyang Ecologyand EnvironmentBureau XinminBranchMar.5,2019 X.H.H. [2019] No.3Reply on the EIS of Taohua PigFattening Farm Project of LiaoningXinwang Technology Co., Ltd.Shenyang Ecologyand EnvironmentBureau XinminBranchOct.16,2019 S.H.X.M.S. Zi [2019] No.151Reply on the EIS of XinminGongliu Farm Construction Projectof Liaoning Xinwang TechnologyCo., Ltd.Shenyang Ecologyand EnvironmentBureau XinminBranchJun.11,2020 S.H.X.M.S. Zi [2020] No.47Reply on the EIS of Xinmin LiujiaFarm Construction Project ofLiaoning Xinwang Technology Co.,Ltd.Shenyang Ecologyand EnvironmentBureau XinminBranchJun.11,2020 S.H.X.M.S. Zi [2020] No.48Reply on the EIS of Xinmin LiuweiFarm Construction Project ofLiaoning Xinwang Technology Co.,Ltd.Shenyang Ecologyand EnvironmentBureau XinminBranchJun.11,2020 S.H.X.M.S. Zi [2020] No.49Reply on the EIS of XinminDongwei Farm Construction ProjectShenyang Ecologyand Environment Nov.25,2020S.H.X.M.S. Zi [2020] No.98Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.156of Liaoning Xinwang TechnologyCo., Ltd.Bureau XinminBranchReply on the EIS of Xinmin GongtaFarm Construction Project ofLiaoning Xinwang Technology Co.,Ltd.Shenyang Ecologyand EnvironmentBureau XinminBranchNov.25,2020 S.H.X.M.S. Zi [2020] No.97Fuxin XinwangLivestock Co.,Ltd.Reply on the EIS of the HogBreeding Project of Fuxin XinwangLivestock Co., Ltd. in MutouGuilige Village, Zhalan YingziTownFuxin MongolAutonomousCountyEnvironmentalProtection BureauNov.25,2020 M.M.H.S. (2020) No.15TongliaoXinhaoFarming Co.,Ltd.Reply on the EIS of the 1 million /aHogs Farming Project of TongliaoXinhao Farming Co., Ltd. atZhenan FarmTongliaoEnvironmentalProtection BureauSept.7,2018 T.H.S. [2018] No.39Reply on the EIS of the 1 million /aHogs Farming Project of TongliaoXinhao Farming Co., Ltd. atSanyitang FarmTongliaoEnvironmentalProtection BureauSept.7,2018 T.H.S. [2018] No.38Reply on the EIS of the FatteningFarm Construction Project ofTongliao Xinhao Farming Co., Ltd.In Qianjuliuhe Gacha VillageTongliao Ecologyand EnvironmentBureau HorqinBranchApr.22,2020 T.K.H.S. [2020] No.09YichunXinwangFarming Co.,Ltd.Reply on the EIS of the IntegratedPig Farm Construction Project ofYichun Xinwang Farming Co., Ltd.Yichun Ecology andEnvironmentBureauJul.29,2020 Y.H.C.S. [2020] No.1Shiyan XinyueFarmingTechnologyCo., Ltd.Reply on the EIS of the 300,000/aHogs and Swines Farm Project ofShiyan Xinyue FarmingTechnology Co., Ltd. in Shiziling,Yunyang District, Shiyan, HubeiShiyan Ecology andEnvironmentBureauFeb.5,2021 S.H.H. [2021] No.54Chengdu XinjinXinhaoFarming Co.,Ltd.Reply of Chengdu Xinjin DistrictEcology and Environment Bureauon the EIS of New Hope LiuheSichuan Xinjin 5SPig Farm Projectof Chengdu Xinjin Xinhao FarmingCo., Ltd.Chengdu XinjinDistrict Ecologyand EnvironmentBureauMar.29,2021 C.J.H.C.N.H.P.S. [2021]No.11New HopeLiuhe (Zibo)AgriculturalTechnologyDevelopmentCo., Ltd.Reply of Zibo Ecology andEnvironment Bureau ZichuanBranch on the EISDisclosureCommitment of the Pig IndustryQuhua Project of New Hope Liuhe(Zibo) Agricultural TechnologyDevelopment Co., Ltd.Zibo Ecology andEnvironmentBureau ZichuanBranchSept.13,2021 C.H.S. [2021] No.4Laibin NewHope LiuheFarmingTechnologyCo., Ltd.Reply of Laibin Ecology andEnvironment Bureau on the EIS ofthe 4,500 GGGPPig Project inNama County, Laibin, GuangxiLaibin Ecology andEnvironmentBureauJun.29,2021 L.H.S. [2021] No.141Jiangyou NewHope HyporSwine BreedingCo., Ltd.Reply of Jiangyou EnvironmentalProtection Bureau on the EIS ofDongxing Farm Project of JiangyouNew Hope Hypor Swine BreedingCo., Ltd.JiangyouEnvironmentalProtection BureauDec.11,2014 J.H.Z. [2014] No.264Reply of Mianyang EnvironmentalProtection Bureau on the EIS of thePrime Breeding Pig Farm of SouthHope Industrial Co., Ltd.MianyangEnvironmentalProtection BureauOct.31,2006 M.H.H. [2006] No.247Measures taken to reduce carbon emissions and effects during the reporting periodapplicable □not applicableThe company actively implements the national carbon peaking and carbon neutrality strategy. It actively promotesphotovoltaic projects for feed, food and other high-power consumption businesses to increase the proportion of green electricity,Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.157actively promotes manure anaerobic treatment and biogas reuse for big business, and actively promotes wheat, vegetables andgrass planting in consumption sites, to promote the company’s overall energy saving and carbon reduction with multiple measuresand multi-pronged approaches.In terms of green electricity utilization, by the end of June 2023, the total installed capacity of grid-connected powergeneration photovoltaic projects completed by the company was 15.31MW, and the photovoltaic power generation in the first halfof 2023 was about 7 million KWH, reducing CO2 emissions by about 6,900 tons.In terms of livestock and poultry manure treatment,100% of pig business waste of the company were harmless treated in thefirst half of 2023, with a total of about 7.16 million tons of sewage and 130,000 tons of pig manure treated in the first half of theyear. Biogas is produced by anaerobic fermentation of sewage for power generation or internal heating, and CH4 emission of pigmanure is reduced after aerobic composting, reducing CO2 emissions by about 520,000 tons in the first half of the year.In terms of biological carbon sequestration, the pig business of the company made efficient use of 138,500 mu ofconsumption land in the first half of 2023, of which 62,500 mu were planted with wheat, vegetables, grass and other crops, and theremaining were planted with apple, orange and other fruit trees, realizing a total of 80,000 tons of biological carbon sequestration(indirect reduction of CO2 emission).Other information related to environmental protectionCompany nameName ofpollutioncontrolfacilitiesTreatmentprocessTreatmentcapacity Time put into operationOperationalstatusLinyi Liuhe FoodCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1,200 cubicmeters/day Put into operation in 2015RunningnormallyLanling New HopeLiuhe HongjunFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)600 cubicmeters/day Put into operation in 2013RunningnormallyPingyiRefrigerationFactory ofShandong NewHope Liuhe GroupCo., Ltd.SewagetreatmentsystemBiological contactoxidation process1,200 cubicmeters/dayAcquired in 1997, operatedusing the original tanks, andfurther improved in2002/2004RunningnormallyQingdao TianrunFood Co., Ltd.SewagetreatmentsystemA2/0+A/O process 4600 cubicmeters/daySBR system put intooperation in 2005, followedby A/O process in 2009,and expansion in 2018RunningnormallyXiaoyi New HopeLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1600 cubicmeters/dayPut into operation in 2012,process improved in 2016,with bio-filters addedRunningnormallyYishui New HopeLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1800 cubicmeters/dayPut into operation in 2010,and further improved in2014 through sewagetreatment systemRunningnormallyGuantao LiuheFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)3400 cubicmeters/dayPut into operation in 2009,and further improved in2017RunningnormallyBinzhou LiuheLongda FarmingCo., Ltd.SewagetreatmentsystemSBR process +A/O process500 cubicmeters/day Put into operation in 2008RunningnormallyWudi LiuheXinyang Food Co.,Ltd.SewagetreatmentsystemSBR process +A/O process1000 cubicmeters/day Put into operation in 2006RunningnormallyZouping LiuheLivestock Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1000 cubicmeters/dayPut into operation in 2004and transformed andupgraded in 2012RunningnormallyShan County LiuheFeed Co., Ltd. FoodBranchSewagetreatmentsystemHydrolyticacidification +BRN1300 cubicmeters/day Put into operation in 2012RunningnormallyCao County Liuhe Sewage FBR process 1400 cubic Put into operation in 2007 RunningFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.158Food Co., Ltd. treatmentsystemmeters/day normallyJiaxiang New HopeLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)3000 cubicmeters/day Put into operation in 2017RunningnormallyYuncheng LiuheFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)800 cubicmeters/dayPut into operation in 2006,and transformed andupgraded in 2011 and 2017respectivelyRunningnormallyAnshan Liuhe FoodCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)2000 cubicmeters/day Put into operation in 2007RunningnormallyPanjin LiuheFarming Co., Ltd.SewagetreatmentsystemBiological contactoxidation process1,200 cubicmeters/day Put into operation in 2011RunningnormallyDong’e Liuhe LvjiaFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)600 cubicmeters/day Put into operation in 2010RunningnormallyShen County NewHope LiuheQingsizhai FoodCo., Ltd.SewagetreatmentsystemCombined airflotation +biological contactoxidation (A/Oprocess)2000 cubicmeters/dayPut into operation inDecember 2013 andaccepted in July 2014RunningnormallyYanggu LiuheLuxin Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)3000 cubicmeters/dayContact oxidation processput into operation in 2009,followed by A/O process in2015RunningnormallyWeifang TianhuiFood Co., Ltd.SewagetreatmentsystemContact oxidationprocess + SBR700 cubicmeters/dayContact oxidation processput into operation in 2007,followed by SBR in 2009RunningnormallyWeifangHeshengyuan FoodCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)5700 cubicmeters/day Put into operation in 2018RunningnormallyLuoyang LiuheHuiquan Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1000 cubicmeters/dayPut into operation in 2008,and further improved in2015RunningnormallyHebi Liuhe ZhizhenFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)2000 cubicmeters/dayPut into operation in 2011and upgraded in 2015RunningnormallyLaiwu New HopeLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)3000 cubicmeters/day Put into operation in 2014RunningnormallyDezhou LiuheZhikang Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1000 cubicmeters/dayPut into operation in 2008and system improved in2020RunningnormallyFei County LiuheHuahai Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)2000 cubicmeters/dayPut into operation in 2013,and further improved in2016 through sewagetreatment systemRunningnormallyFuxin LiuheFarming Co., Ltd.Food BranchSewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1500 cubicmeters/day Put into operation in 2007RunningnormallyTaiqian New HopeLiuhe Luxin FoodCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)2000 cubicmeters/day Put into operation in 2020RunningnormallyLaoting LiuheXinmeizi Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1500 cubicmeters/day Put into operation in 2016RunningnormallyQixia RefrigerationFactory ofShandong NewHope Liuhe GroupCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1,200 cubicmeters/day Put into operation in 2012RunningnormallyLaiyang TianyeFood Co., Ltd.SewagetreatmentsystemA/O process 1,200 cubicmeters/dayPut into operation in 2008,and further improved in2016 through sewageRunningnormallyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.159treatment systemTai'an TaishanLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1500 cubicmeters/day Put into operation in 2015RunningnormallyShandong NewHope Liuhe GroupCo., Ltd. LinyiBranchSewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1500 cubicmeters/dayPut into operation in 2013,and further improved in2019 through sewagetreatment systemRunningnormallyQingdao LiuheWanfu Food Co.,Ltd.SewagetreatmentsystemSBR process 800 cubicmeters/day Put into operation in 2012RunningnormallyFenxi New HopeLiuhe Food Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1000 cubicmeters/dayPut into operation in 2011and upgraded in 2020RunningnormallyPingyi Liuhe FadaFood Co., Ltd.SewagetreatmentsystemAir flotationmachine +Hydrolyticacidification +AA/O1400 cubicmeters/day 2021RunningnormallyLinyi LiuheHongchen FarmingCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1000 cubicmeters/dayPut into operation in March2009RunningnormallyBeijing KingheyFood Co., Ltd.SewagetreatmentsystemBiological contactoxidation process1500 cubicmeters/day Put into operation in 2004RunningnormallyHebei KingheyMeat Industry Co.,Ltd.SewagetreatmentsystemA/O process 1500 cubicmeters/day Put into operation in 2006RunningnormallyLiaoning KingheyFood Co., Ltd.SewagetreatmentsystemBiological contactoxidation process,A/O process3000 cubicmeters/dayPhase I put into operation in2006, followed by Phase IIin 2019RunningnormallyChengdu HopeFood Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)1400 cubicmeters/day Put into operation in 2010RunningnormallyShandong KingheyFood Co., Ltd.SewagetreatmentsystemBiological contactoxidation process,A/O process3000 cubicmeters/day 2022RunningnormallyChenzhou XinhaoFarming Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)330 cubicmeters/dayPut into operation inJanuary 2021RunningnormallySewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)290 cubicmeters/dayPut into operation inDecember 2022RunningnormallyHengnan CountyMuyun Eco-agriculture Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)300 cubicmeters/dayPut into operation inJanuary 2021RunningnormallyHuzhou ChangxingHuatong FarmingCo., Ltd.SewagetreatmentsystemPretreatment +anaerobic + three-stage A/O +physicochemicalprecipitation800 cubicmeters/dayPut into operation in May2021RunningnormallyShaoyang XinmuFarming Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)575 cubicmeters/dayPut into operation in July2022RunningnormallyHengyang XinhaoFarming Co., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)700 cubicmeters/dayPut into operation inDecember 2022RunningnormallyHongming Group IISow Farm ofHainan XinliuAgriculturalReclamationFarmingTechnology Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)200 cubicmeters/dayPut into operation inFebruary 2021RunningnormallyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.160Hainan ChangjiangXinliu BreedingCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)200 cubicmeters/dayPut into operation inOctober 2020RunningnormallySewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)300 cubicmeters/dayPut into operation in August2021RunningnormallyHainan LingaoXinliu BreedingCo., Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)250 cubicmeters/dayPut into operation in August2020RunningnormallySewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)600 cubicmeters/dayPut into operation in June2021RunningnormallyHainan XinliuAgriculturalReclamationFarmingTechnology Co.,Ltd.SewagetreatmentsystemAnaerobic +aerobic (A/Oprocess)550 cubicmeters/dayPut into operation in July2021RunningnormallyLaibin XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process400 cubicmeters/dayPut into operation inOctober 2019RunningnormallyXiangzhou XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process150 cubicmeters/dayPut into operation in May2021RunningnormallySewagetreatmentsystemUASB + two-stageA/O process400 cubicmeters/dayPut into operation in May2020RunningnormallySewagetreatmentsystemUASB + two-stageA/O process150 cubicmeters/dayPut into operation in May2021RunningnormallyLongzhou XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process880 cubicmeters/dayPut into operation inOctober 2020RunningnormallyHezhou XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process330 cubicmeters/dayPut into operation inOctober 2020RunningnormallyGuigang XinliuFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process520 cubicmeters/dayPut into operation inFebruary 2021RunningnormallySewagetreatmentsystemBlack membranebiogas EPC60 cubicmeters/dayPut into operation in July2021RunningnormallyLaibin XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process440 cubicmeters/dayPut into operation inOctober 2020RunningnormallyLuocheng XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process300 cubicmeters/dayPut into operation in March2021RunningnormallyLipu XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process380 cubicmeters/dayPut into operation in August2021RunningnormallyLiuzhou XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process300 cubicmeters/dayPut into operation in July2022RunningnormallyNingming XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process480 cubicmeters/dayPut into operation in August2020RunningnormallyNanning XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process350 cubicmeters/dayPut into operation inSeptember 2020RunningnormallyNanning XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process250 cubicmeters/dayPut into operation inDecember 2020RunningnormallyNanning Xinliu Sewage UASB + two-stage 225 cubic Put into operation in RunningFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.161Farming Co., Ltd. treatmentsystemA/O process meters/day December 2022 normallyNanning WumingXinliu FarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process180 cubicmeters/dayPut into operation in May2021RunningnormallyXiajiang XinliuFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process360 cubicmeters/dayPut into operation in April2021RunningnormallyYingtan XinliuTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process240 cubicmeters/dayPut into operation in May2021RunningnormallySewagetreatmentsystemUASB + two-stageA/O process580 cubicmeters/dayPut into operation in May2021RunningnormallyJiangxi New HopeLiuhe FarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process1170 cubicmeters/dayPut into operation in May2021RunningnormallyWannian NewHope LiuheFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process460 cubicmeters/dayPut into operation inNovember 2021RunningnormallyTongcheng XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process480 +240 cubicmeters/dayPut into operation in June2021RunningnormallySewagetreatmentsystemUASB + two-stageA/O process450 cubicmeters/dayPut into operation inDecember 2022RunningnormallyRuyuan YaoAutonomousCounty XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB+secondsaryAO+Ozone+BAF+ cloth filter350 cubicmeters/dayPut into operation in April2021RunningnormallyGuangdong XinhaoZhenghe FarmingCo., Ltd.SewagetreatmentsystemUASB + two-stageA/O process330 cubicmeters/dayPut into operation inOctober 2020RunningnormallyZhaoqing XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O process220 cubicmeters/dayPut into operation inFebruary 2021RunningnormallyLonghai New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O process1500 cubicmeters/dayPut into operation in July2022RunningnormallyQuzhou YihaiAgriculture Co.,Ltd.SewagetreatmentsystemPretreatment +anaerobic + two-stage A/O +physicochemicalprecipitation +Fenton760 cubicmeters/dayPut into operation inOctober 2020RunningnormallyNingbo New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemPretreatment +anaerobic + two-stage A/O +physicochemicalprecipitation +Fenton731 cubicmeters/dayPut into operation in April2021RunningnormallyRui'an New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemAnaerobic + two-stage A/O428 cubicmeters/dayPut into operation in April2021RunningnormallyRugao XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-levelAO180 cubicmeters/dayPut into operation inJanuary 2018RunningnormallyYancheng ZhongtaiLivestock Co., Ltd.SewagetreatmentsystemBiogasfermentation700 cubicmeters/dayPut into operation inJanuary 2020RunningnormallyNanjing XinmuFarming Co., Ltd.SewagetreatmentsystemUASB + two-levelAO300 cubicmeters/dayPut into operation inSeptember 2020RunningnormallyWulian Xinhao Sewage UASB + two-level 700 cubic Put into operation in RunningFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.162Farming Co., Ltd. treatmentsystemAO meters/day September 2020 normallyLaixi New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemUASB + two-levelAO697 cubicmeters/dayPut into operation in April2021RunningnormallySewagetreatmentsystemUASB + two-levelAO220 cubicmeters/dayPut into operation in June2020RunningnormallyLaiyang XinhaoLivestock Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO450 cubicmeters/dayPut into operation inSeptember 2019RunningnormallyRaoyang XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-levelAO400 cubicmeters/dayPut into operation inJanuary 2020RunningnormallyJing County XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-levelAO220 cubicmeters/day Put into operation in 2021RunningnormallyTianjin XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O720* 3 cubicmeters/dayPut into operation in June2021RunningnormallyTianjin New HopeLiuhe FarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageA/O450 cubicmeters/dayPut into operation inNovember 2021RunningnormallyBeijing XinliuFarming Co., Ltd.SewagetreatmentsystemTwo-stage AO +anaerobic500 cubicmeters/dayPut into operation inDecember 2020RunningnormallyGaotang CountyXinhao FarmingCo., Ltd.Sewagetreatmentsystem UASB + two-levelAO460 cubicmeters/dayPut into operation in March2019RunningnormallySewagetreatmentsystemPut into operation in May2020RunningnormallyJiaxiang XinliuSwine BreedingCo., Ltd.SewagetreatmentsystemUASB + two-stageA/O300 cubicmeters/dayPut into operation in April2019RunningnormallyShandong LiuheYinbao BreedingCo., Ltd.SewagetreatmentsystemUASB + two-stageA/O120 cubicmeters/dayPut into operation inJanuary 2006RunningnormallyJuye XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O920 cubicmeters/dayPut into operation in August2020 (Phase I)/ put intooperation in December2020 (Phase II)RunningnormallyHeze XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O390 cubicmeters/dayPut into operation in August2020RunningnormallyCao County XinhaoFarming Co., Ltd.SewagetreatmentsystemUASB + two-stageA/O620 cubicmeters/dayPut into operation in May2020RunningnormallyShan CountyXinhao FarmingCo., Ltd.SewagetreatmentsystemUASB + two-stageA/O480 cubicmeters/dayPut into operation inDecember 2020RunningnormallyYucheng NewHope Liuhe SwineBreeding Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO200 cubicmeters/dayPut into operation inJanuary 2020RunningnormallyLaizhou New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO340 cubicmeters/dayPut into operation inSeptember 2020RunningnormallyXiajin New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO300 cubicmeters/dayPut into operation in June2020RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO400 cubicmeters/dayPut into operation in June2020RunningnormallySewage Pretreatment + 80 cubic Put into operation in June RunningFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.163treatmentsystemUASB + two-stageAOmeters/day 2020 normallySewagetreatmentsystemPretreatment +UASB + two-stageAO80 cubicmeters/dayPut into operation in June2020RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO220 cubicmeters/dayPut into operation in June2020RunningnormallyZhangjiakouXinwang FarmingCo., Ltd.SewagetreatmentsystemUASB + two-levelAO500 cubicmeters/dayPut into operation inOctober 2020RunningnormallyHebei XinhaoFuchengAgriculturalTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-levelAO540 cubicmeters/dayPut into operation inSeptember 2019RunningnormallySewagetreatmentsystemUASB + two-levelAO240 cubicmeters/dayPut into operation inFebruary 2019RunningnormallySewagetreatmentsystemUASB + two-levelAO240 cubicmeters/dayPut into operation in July2019RunningnormallyLiaocheng XinhaoFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + three-stage AO610 cubicmeters/dayPut into operation inJanuary 2019RunningnormallyDong’e New HopeLiuhe SwineBreeding Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO1050 cubicmeters/dayPut into operation in April2019RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO480 cubicmeters/dayPut into operation in March2023RunningnormallyWuhe New HopeLiuhe LivestockCo., Ltd.SewagetreatmentsystemUASB + two-levelAO260 cubicmeters/dayPut into operation in June2021RunningnormallySewagetreatmentsystemBlack membranebiogas process +AO system144 cubicmeters/dayPut into operation in July2020RunningnormallySewagetreatmentsystemBlack membranebiogas process144 cubicmeters/dayPut into operation in August2020RunningnormallySewagetreatmentsystemUASB + two-levelAO795 cubicmeters/dayPut into operation in March2021RunningnormallyDongying XinhaoModern FarmingCo., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO690 cubicmeters/dayPut into operation inDecember 2020RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO430 cubicmeters/dayPut into operation inSeptember 2020RunningnormallyZhucheng XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-stageAO500 cubicmeters/dayPut into operation inNovember 2020RunningnormallyLaiyang XinmuBreeding Co., Ltd.SewagetreatmentsystemPretreatment +UASB850 cubicmeters/dayPut into operation in April2023RunningnormallyZhenjiang NewHope Farming Co.,Ltd.SewagetreatmentsystemUASB + two-levelAO370 +470 cubicmeters/dayPut into operation in March2020RunningnormallyGansu XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + two-levelAO720 cubicmeters/dayPut into operation in May2021RunningnormallyGansu New HopeLiuhe Farming Co.,Ltd.SewagetreatmentsystemCSTR fully mixedanaerobictreatment700 cubicmeters/dayPut into operation in April2021RunningnormallySewagetreatmentCSTR fully mixedanaerobic740 cubicmeters/dayPut into operation in May2021RunningnormallyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.164system treatmentLingbao XinliuFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO240 cubicmeters/dayPut into operation inJanuary 2020RunningnormallyPuyang XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO480 cubicmeters/dayPut into operation in June2021RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO900 cubicmeters/dayPut into operation in June2021RunningnormallyPucheng XinliuTechnology Co.,Ltd. Pucheng PigFarmSewagetreatmentsystemPretreatment +UASB + AO740 cubicmeters/day Put into operation in 2021RunningnormallyYijun XinliuTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO300 cubicmeters/day Put into operation in 2020RunningnormallyWuqi XinliuTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageA/O500 cubicmeters/day Put into operation in 2021RunningnormallyYanting XinhaoFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO480 cubicmeters/dayPut into operation inFebruary 2019RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO360 cubicmeters/dayPut into operation inJanuary 2022RunningnormallyGuangyuan XinhaoFarming Co., Ltd.Shanxi Pig FarmSewagetreatmentsystemPretreatment +UASB + two-stageAO340 cubicmeters/dayPut into operation inDecember 2020RunningnormallyLangzhong XinliuFarmingTechnology Co.,Ltd. DeyangVillage Pig FarmSewagetreatmentsystemPretreatment +UASB + two-stageAO240 cubicmeters/dayPut into operation in August2021RunningnormallyQianwei XinhaoFarming Co., Ltd.Longhua Pig FarmSewagetreatmentsystemPretreatment +UASB + two-stageAO230 cubicmeters/dayPut into operation in April2022RunningnormallyLeshan New HopeFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO240 cubicmeters/dayPut into operation inDecember 2019RunningnormallySewagetreatmentsystemPretreatment +UASB + AO70 cubicmeters/day Put into operation in 2018RunningnormallyShaanxi ZhongshanXingwang FarmingTechnology Co.,Ltd.SewagetreatmentsystemBlack membranebiogas120 cubicmeters/day Put into operation in 2020RunningnormallyYincheng XinhaoFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO480 cubicmeters/dayPut into operation inDecember 2020RunningnormallyZhengzhouQuanshengFarmingTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO235 cubicmeters/dayPut into operation inDecember 2020RunningnormallyYan’an BenyuanAgriculturalTechnologyDevelopment Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO400 cubicmeters/day Put into operation in 2019RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO200 cubicmeters/day Put into operation in 2018RunningnormallyWeinan ZhengnengFarmingTechnology Co.,Ltd. Heyang XinliuPig FarmSewagetreatmentsystemBlack membranebiogas200 cubicmeters/day Put into operation in 2019RunningnormallyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.165Weinan XinliuTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO500 cubicmeters/day Put into operation in 2020RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO360 cubicmeters/day Put into operation in 2021RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO500 cubicmeters/day Put into operation in 2021RunningnormallyHubei XinhaoFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO510 cubicmeters/dayPut into operation in May2020RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO570 cubicmeters/dayPut into operation inOctober 2020RunningnormallyGuang’an XinhaoFarming Co., Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO500 cubicmeters/dayPut into operation inJanuary 2021RunningnormallyRuzhou QuanshengFarmingTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO650 cubicmeters/dayPut into operation in April2021RunningnormallySewagetreatmentsystemPretreatment +UASB + two-stageAO480 cubicmeters/dayPut into operation inFebruary 2022RunningnormallyXingren XinliuFarmingTechnology Co.,Ltd.SewagetreatmentsystemPretreatment +UASB + two-stageAO +physicochemicalprecipitation160 cubicmeters/dayPut into operation in July2021RunningnormallyHeyang ZhengheModern FarmingCo., Ltd. HeyangPig FarmSewagetreatmentsystemPretreatment +UASB + AO200 cubicmeters/day Put into operation in 2019RunningnormallyJiuzhi Farm ofKangping XinwangFarming Co., Ltd.In Beisanjiazi Sub-district, KangpingSewagetreatmentsystemBlack membranebiogas250 cubicmeters/dayPut into operation in June2020RunningnormallyKangping XinwangFarming Co., Ltd.KangpingXiaodong BranchSewagetreatmentsystemBlack membranebiogas500 cubicmeters/dayPut into operation inSeptember 2020RunningnormallyKangping XinwangFarming Co., Ltd.KangpingKangliuwangBranchSewagetreatmentsystemBlack membranebiogas620 cubicmeters/dayPut into operation inNovember 2020RunningnormallyKangping XinwangFarming Co., Ltd.KangpingKangbawangBranchSewagetreatmentsystemBlack membranebiogas190 cubicmeters/dayPut into operation inJanuary 2021RunningnormallyZhangwu XinwangFarming Co., Ltd.ZhangwuZhangsiwangBranchSewagetreatmentsystemBlack membranebiogas420 cubicmeters/dayPut into operation inOctober 2020RunningnormallyZhangwu XinwangFarming Co., Ltd.ZhangwuZhangqiwangBranchSewagetreatmentsystemBlack membranebiogas320 cubicmeters/dayPut into operation inOctober 2021RunningnormallyZhangwu XinwangFarming Co., Ltd.ZhangwuZhangshiwangSewagetreatmentsystemBlack membranebiogas390 cubicmeters/dayPut into operation in June2021RunningnormallyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.166BranchLiaoning XinwangTechnology Co.,Ltd.SewagetreatmentsystemCSTR fully mixedanaerobictreatment400 cubicmeters/dayPut into operation inDecember 2019RunningnormallySewagetreatmentsystemCSTR fully mixedanaerobictreatment240 cubicmeters/dayPut into operation inNovember 2019RunningnormallySewagetreatmentsystemCSTR fully mixedanaerobictreatment240 cubicmeters/dayPut into operation inDecember 2019RunningnormallySewagetreatmentsystemBlack membranebiogas process240 cubicmeters/dayPut into operation inDecember 2020RunningnormallyJiangyou NewHope Hypor SwineBreeding Co., Ltd.(Xiping Farm)SewagetreatmentsystemPretreatment +one-stage AO100 cubicmeters/dayPut into operation inFebruary 2008RunningnormallyChengdu XinjinXinhao FarmingCo., Ltd.SewagetreatmentsystemUASB + 2-stageAO250 cubicmeters/dayPut into operation inOctober 2022RunningnormallyLaibin New HopeLiuhe FarmingTechnology Co.,Ltd.SewagetreatmentsystemUASB + 2-stageAO530 cubicmeters/dayPut into operation in August2022RunningnormallyII. Social responsibilities(I) Implementation direction of social responsibility strategyWith the vigorous development and upsurge of ESG at home and abroad, the company actively responds to the ESG conceptunder the guidance of national strategies such as green development, carbon peaking and carbon neutrality goals, ruralrevitalization, and science and technology powers, comprehensively improves the ESG level, and explores the establishment of anESG governance system that is internationally accepted and encouraged by the government.According to the social responsibility management vision of “rooted in society, returning to society, and becoming a reliableforce”, the company developed the implementation direction of the six social responsibility strategies, namely “adhering to long-term doctrine in terms of corporate governance; protecting life with life as a people’s livelihood responsible enterprise; exploringsmart urban and rural areas with innovative technology; breeding beauty with hope to serve the society; feeding nature withcircular agriculture in green industry; and pursuing excellence with growth to help employees”, from the dimensions ofenvironment, society and corporate governance to continue to promote social responsibility activities.(II) Summary of social responsibility fulfillment1. Rural revitalizationDuring the reporting period, the company actively responded to the national strategic call, continued to promote the FifthFive-Year project for rural revitalization, in-depth development of 100,000 new farmers training, farm support model, agriculturalfinancial guarantee for assistance to agriculture and other projects, and joined hands with industry partners to jointly promotetalent revitalization, industrial prosperity, financial benefits to agriculture, ecological revitalization and digital countryside.In terms of talent revitalization, the company got deeply involved in the “100,000 Green Collar New Farmers TrainingProgram” for rural revitalization, focusing on rural economic leaders including rural grass-roots administrators, rural industrialoperators, and new agricultural operators, to improve the “5+N” characteristic training system, explore the construction of a soundrural revitalization talent cultivation system, and continue to carry out various training programs featuring rural revitalization, suchas industrial training. By the end of June 2023, the company has completed 2,127 offline trainings in 25 provinces,128 cities and332 counties/districts, involving more than 83,800 participants; 13.69 million people received online training.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.167In terms of financial assistance to agriculture, the company’s rural financial business focuses on improving customer servicecapabilities and accelerating the online, digital and modular business development. It steadily promotes the credit systemframework, business process and preliminary data testing of the second-generation credit information system of the People’s Bankof China, providing faster and more convenient business services for rural users with good credit information records. The self-developed guaranteed business system V2.0 has been put into operation, which further promoted product standardization andonline business process, improved lending efficiency and improved customer experience. The function of the approval risk controlmodule is strengthened to form a multi-dimensional business approval model, which can not only effectively control business risks,but also improve service efficiency. During the reporting period, a total of 6,557 customers were served for a total of 182,300times to raise 3.5 billion yuan.In terms of industrial revitalization, the company launched the pig farm support model for the breeding pain points to help themodernization of large-scale pig farms. Eight supporting services are provided to farmers, including piglet procurement, nutritionprogram, financial support, disease prevention and control, pig insurance, animal protection services, breeding technology, pigselling services, realizing “small-risk, high-benefit, and worry-free breeding” for pig farmers.The company launched “Jian Zhu Bang”, a production data management software for large-scale pig farms, to promote thedigital breeding development and enrich the rural digital ecology. This software takes the production cost accounting of pig farmsas the core, and the accounting data is scientific, reasonable and accurate, which embodies the national norms and covers theindustry standards, providing pig farm managers with “digital production indicators, visual production data, and preciousapplication management”, which can comprehensively help pig farms improve production data and further increase efficiency andreduce costs.2. Public welfare and charityActively practicing corporate social responsibility, and sharing development results with the community, the company built aspecial public welfare platform to develop special public welfare projects and carry out public welfare volunteer activities forchildren, students and people in remote mountainous areas, old revolutionary base areas and other places. In May, the companylaunched the “Wish Program” for the eighth consecutive year, and dozens of volunteers, as representatives, went to seven schoolsin Sichuan, Shandong, Liaoning and other provinces, giving Children’s Day gifts to 1,549 children to help them realize their goodwishes. In February, when Chinese rescue team rushed to the earthquake-stricken areas in Turkey, New Hope Turkey became thetemporary office, material collection base and supply station of the rescue team, and overcame difficulties to provide materialprocurement and turnover support, which solved the worries of the Chinese rescue force. During the reporting period, thecompany’s charity donations involving rural revitalization, environmental protection, education and other categories totaled5,393,488.48 yuan.3. Green and low-carbonThe company actively implements the national dual-carbon strategy, actively promotes photovoltaic projects in feed, foodand other high-power consumption businesses to increase the proportion of green electricity, promotes manure anaerobic treatmentand biogas reuse in the pig industry, and develops wheat, vegetables and grass planting in consumption sites, to vigorouslypromote the company’s overall energy saving and carbon reduction with multiple measures and multi-pronged approaches.In terms of green electricity utilization, by the end of June 2023, the total installed capacity of grid-connected powergeneration photovoltaic projects completed by the company was 15.31MW, and the photovoltaic power generation in the first halfof 2023 was about 7 million KWH, reducing CO2 emissions by about 6,900 tons.In terms of livestock and poultry manure treatment,100% of pig business waste of the company were harmless treated, with atotal of about 7.16 million tons of sewage and 130,000 tons of pig manure treated in the first half of the year. Biogas is producedby anaerobic fermentation of sewage for power generation or internal heating, and CH4 emission of pig manure is reduced afteraerobic composting, reducing CO2 emissions by about 520,000 tons during the reporting periodIn terms of biological carbon sequestration, the pig business of the company made efficient use of 138,500 mu ofconsumption land, of which 62,500 mu were planted with wheat, vegetables, grass and other crops, and the remaining wereFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.168planted with apple, orange and other fruit trees, realizing biological carbon sequestration during the period with indirect reductionof about 80,000 tons of CO2.In addition, the company actively explored the development of carbon assets. In the first half of 2023, the InternationalCertified Voluntary Carbon Standard (VCS) project of Kangping Xinwang Farming Co., Ltd., a subsidiary of the company,obtained about 308,000 tons of carbon emission reduction quota granted by the official platform of VERRA. Through carbonmarket trading, Kangping Xinwang Farming Co., Ltd. gained 3.426 million yuan, achieving a win-win situation of environmentalprotection and economic benefits.4. Staff developmentIn the first half of 2023, the company promoted the visual talent training from the three aspects of grasping the core, layingthe foundation and accurately empowering, and built the company’s talent pool.In terms of precise empowerment of core cadres, it realized digital and visual training of new cadres in transition period,management-oriented cognitive rotation training for general managers, and training of high-potential cadres, with coach integratedinto grassroots performance improvement and middle and senior leadership construction; consolidated the foundation of talenttraining, built a learning organizational atmosphere, focusing on the implementation of internal trainer system and improving thequality and service rate of course development, carried out the construction of digital platform content, training administrators tocover business terminals, and created high-quality knowledge sharing IP to improve coverage and organizational influence;empowered the professional cadre system to recreate the DNA of organizational advantages, improving the efficiency andeffectiveness of professional sequence talent training along with the post and job upgrading, building a learning path map forprofessional sequence, and shorteningthe talent training cycle.During the reporting period, nine major porgrams were carried out in three major categories, as follows.(1) Precise empowerment of core cadresIntegration of new employees in social recruitment: based on the demands of new employees in social recruitment for “rapidintegration and value creation”, relying on the training program promoted by the online platform of New Hope Academy, timelyand comprehensively help new colleagues in social recruitment to understand the company, integrate into the company and createvalue. The training covers the whole industry. As of the end of June, a total of 4 training sessions were carried out, with a total of287 people trained.Elite program: help middle-level backbone to complete the transformation of positioning and restructure management ability.A total of 2 classes were open, training 996 people. A special high-potential cadre class (offline) for high-potential managers wereset focusing on the five management cores of time management, correct contribution, staffing for strength, first things first, andeffective decision-making, to train management ability and instill management with efficiency awareness, helping high-potentialmanagers transform from qualified team managers to high-performance managers. The number of people trained is 40.Talent program: in the first half of the year, a total of 239 general managers finished online learning on the digital platformfor a total of about 600 class hours. On the basis of online learning,181 selected high-potential cadres received a total of 3,800class hours of offline tutoring. At the same time, according to the demand, four new general manager Talent classes were set upfor 110 students in industrial and functional lines, to help general managers improve their leadership ability and solve practicalchallenges by combining online micro-class learning with offline training.EMBA for farming industry: in the first half of 2023, a total of 9 course activities were carried out, covering 5 classes, and206 senior farming management managers were trained through the ten training aspects of leadership, business model andcorporate governance, financial management, strategic marketing, digital transformation, corporate culture, etc.Leadership coaching center: with the mission of developing leadership, stimulating combat effectiveness and expandinginfluence, it strives to improve the inner state of leaders and employee engagement; make communication more powerful, enhancethe ability of collaborative combat, and build a coaching ecology to support the long-term development of the organization. Itpresented “Coach Talk” live streaming with 931 views, coach reading club with 997 participants and coaching camp with 30participants.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.169(2) Talent training baseSmart sharing platform: it is committed to strengthening the construction of internal lecturers, promoting internal knowledgeprecipitation and sharing, and creating a learning organization. The emphasis is put on the quality of course development,strengthening the teaching ability of internal lecturers, and enhancing the platform management and operation. In the first half ofthe year, it developed a set of internal lecturer empowerment and certification standards, organized a session of internal lecturertraining for 35 trainees, and collaborated with the industry to grant certification for 15 internal lecturers, with 15 internal coursesaccumulated.Digital learning platform: it deeply gets involved in vertical business to empower 200+ business learning platformadministrators and create an excellent training management team that knows how to design, to operate and to implement in thedigital era; it connects with the daily office system, embedding learning into work scenarios, promoting employees to developdigital learning habits, establishing personal learning files, and promoting the construction of learning organizations.“Glittering Sharer” and “Warrior Talk”: knowledge IP programs that are based on the two major trends of digital learningand knowledge sharing and are welcomed and loved by employees.The “Warrior Talk” aims to excavate the practical management experience in line with the actual situation in the organization,which can be replicated across industries and has been repeatedly verified and effective, so that the successful experience can becirculated within the organization and provide managers with more reliable problem solving ideas.The “Glittering Sharer” finds positive people and stories within the organization, shares personal experiences, career stories,etc., and inspires more peers to work together around the organization’s goals.Up to now,7 videos of the “Warrior Talk” and 6 videos of the “Glittering Sharer” has been released, with a total of more than370,000 views. In the future, the two IPs will continue to complement the company’s talent training and development programs,creating a three-dimensional learning organizational atmosphere.(3) Precise empowerment of professional cadresFood marketing force program: it focuses on key positions in the value chain, builds business maps and learning maps byorganizing experts to work together, and develops customized courses based on key tasks to help employees accelerate theircompetency. It helps the sales team to focus on the training of core tasks in business transformation, and design food marketingsequence learning path map development plan to improve the efficiency of talent training for sales directors, city managers andregional managers.In the first half of the year, business expert team were led to sort out the key tasks, work processes, competency standards andlearning maps of 2 positions in the food marketing sequence, with 2 professional courses independently developed,8 internaltrainers trained, and three rounds of rotation training completed in Wuhan, Sichuan and Chongqing, covering more than 100 salestalents.5. Digital transformationThe company continues to promote the integration of business and digital technology around the “three and four” strategicgoal under the “integration of business and data management”. Through the establishment of an efficient closed-loop managementsystem, the real-time control and utilization of data are enhanced, and resource allocation and business operations are optimized.At present, the company’s digital construction has been further promoted, covering six major scenes of procurement, logistics,warehousing, breeding, production, and research and development, providing strong support for improving business efficiency,reducing costs, enhancing the company’s market competitive advantage, and helping the digital transformation of industrialecology.(1) Xinsu project has covered the raw material centralizled procurement and local procurement business of all 219 domesticfeed branches and subsidiaries and 6 supply chain commercial trading companies, and realized the full digital online operation ofprocurement contracts, procurement execution and settlement.(2) The digital logistics platform has been officially put into trial operation in domestic companies, covering 53 feedcompanies, involving a variety of transportation modes such as truck, railway, river, ocean and container. The collaborative workFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.170of raw material suppliers, carriers, drivers and internal managers has achieved a breakthrough in the company’s digital logisticssystem from 0 to 1.(3) The self-developed Yunge WMS system has completed the pilot launch for food business, covering 3 pilot food factories,enabling the business to achieve accurate and efficient storage management.(4) The lighthouse project has been commissioned, and the feed control function has been verified and promoted, covering129 companies and 383 production lines; the automatic control ability of environment, material line and skip weighing, and theintelligent acquisition and evaluation of production, flow regulation and immune data are being promoted in an orderly manner.The project strives to build a bridgehead for the company’s pig breeding information construction through the cycle of problemfinding, functional pilot, replication and promotion.(5) The fattening plan operation system has been officially launched and put into operation, and through the closed-loop ofplanning-work order - execution-early warning, it achieves “knowing what to do, doing what should be done, action qualitymonitoring, and timely correction”. It can promote the full linkage among the interline medication, sales, piglet circulation andother links with plans, track and standardize the key tasks of the whole fattening process through work orders, and change theprevious post-review management to timely perception and timely intervention management of key issues and key nodes throughearly warning.(6) The EBS core system covers the whole industry and supports business scenarios of 700+ branches and subsidiaries, whichis the base of the company’s digital business system. In the first half of 2023, the EBS system infrastructure and application layerwere optimized in all dimensions, and the system security was enhanced. The upgraded system platform is more secure and stable,providing more efficient technical support and guarantee services for the company to achieve the strategic goal of digital businesstransformation and integration of business and data management.(III) Social appraisalThe company pays attention to taking root in the industry, has the courage to take responsibility, is willing to repay thesociety, and has obtained a good social reputation. During the reporting period, the company was listed in the Forbes Global 2000,Fortune China’s Top 500 listed companies, and won the New Fortune Best Listed Company, Top 10 International BrandEnterprises in the livestock industry and other honors. In the field of social responsibility, the company won the Most SociallyResponsible Listed Company,2022 China’s Top 500 Enterprise Charity Companies, ESGNew Benchmark Enterprise Award,Food Safety Science and Technology Innovation Award, and Fuxi Cup Science and Technology Progress Award. In terms oftalent development, the company responded to the call to support the army and benefit the army, and was selected to the HonorList of 2022 National Veterans Employment Cooperation Enterprises. Focusing on the training of backbone talents and skilledtalents, the Food Business Operation Center of Yangling Besun Agricultural Industry Group under the company won the honor of“National Worker Pioneer”.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.171Section 6 Important Matters1. Commitments fulfilled within the reporting period and not yet fulfilled beyond the timelimit as at the end of the reporting period by actual controller, shareholder, related party,acquirer and corporate and other commitment-related parties of the companyapplicable □not applicableCause ofcommitmentPartyconcernedType ofcommitmentContent of commitmentTime ofcommitmentPeriodofcommitmentFulfillmentShare reformcommitmentsNew HopeGroup Co.,Ltd.SharereductioncommitmentsNew Hope Group Co., Ltd. will not listfor trading or transfer its shares within 36months of acquisition of the circulationright. Upon the expiration of the aforesaidlockup period, the formerly non-tradableshares may be listed for sale at a price ofno less than 6.8 yuan only when thecompany’s stock closing price exceeds6.8 yuan for any consecutive 5 tradingdays. The prices of the aforesaid sharesoffered for sale may be adjustedaccordingly when the companyimplements profit distribution, conversionof capital reserve to share capital,additional issue of new shares, sharesallotment, conversion of convertiblebonds into shares or shareholdingreduction in the same ratio by allshareholders.Jan.19,2006NoneCommitmentshonoredCommitmentsmade in acquisitionreports or equitychange reportsNone None None None NoneNoneCommitment madeat the time of assetreorganizationNew HopeGroup Co.,Ltd.; SouthHopeIndustrial Co.Ltd.; LiuYonghaoCommitments regardinghorizontalcompetition,related-partytransactionsandoccupationof fundsIn order to preserve the legitimate rightsand interests of the company aftersignificant asset reorganization, theaforesaid shareholders undertake that thecovenanters currently are not directly orindirectly engaged in any businessactivities that constitute horizontalcompetition with the business conductedby the listed company; while thecovenanters actually control the listedcompany, the covenanters and othercompanies (except for listed companies)controlled by them will not directly orindirectly engage in any businessactivities that constitute horizontalcompetition with the business conductedby the listed company, nor engage in anyactivities that might damage the interestsof the listed company.Dec.31,2010NoneCommitmentshonoredFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.172Commitment madeat the time of assetreorganizationNew HopeGroup Co.,Ltd.; SouthHopeIndustrial Co.Ltd.Commitments regardinghorizontalcompetition,related-partytransactionsandoccupationof fundsIn order to reduce and regulate thepossible related-party transactions of thecompany after significant assetreorganization, the aforesaid shareholdersundertake that they will avoid or reducerelated-party transactions with the listedcompany and its subsidiaries wheneverpossible; execute standard-compliantrelated-party transaction agreements withthe listed company with respect torelated-party transactions that cannot beavoided or have reason to exist andperform approval procedure according tothe applicable laws, regulations, rules andother normative documents and thearticles of association, whereby the pricesof related-party transactions will bedetermined according to the prices whenthe same or similar transactions areconducted with independent third partieswithout related-party relationship in orderto ensure prices of related-partytransactions are fair; undertake to performthe information disclosure obligations forrelated-party transactions according toapplicable laws, regulations and articlesof association; undertake not to illegallytransfer funds or profits of the listedcompany through related-partytransactions or jeopardize the interests ofthe listed company and its non-relatedshareholders through related-partytransactions.Dec.31,2010NoneCommitmentshonoredCommitment madeat the time of assetreorganizationGao Zhanhe;Yan Junfang;Yan Suifang;YanglingFengyi EquityInvestmentManagementCenter (LP);YanglingXiangyuanEquityInvestmentManagementCenter (LP)Commitments regardinghorizontalcompetition,related-partytransactionsandoccupationof fundsWhen holding shares/equities in the listedcompany and Yangling Besun:1. We, our close family members(including spouse, parents, parents-in-law, siblings and their spouses, childrenaged above 18 and their spouses, siblings-in-law and parents-in-law, the samebelow) and companies controlled(directly or indirectly) by us and our closefamily members have not and will notdirectly or indirectly engage in anyactivities that constitute horizontalcompetition with the swine breeding, pigfarming, slaughtering, processing andfeed production businesses (hereinafter,“main business of the listed company”)that the listed company and its majority-owned subsidiaries mainly conduct in anymanner.2. With respect to wholly-ownedcompanies and directly or indirectlymajority-owned companies controlled byus and our close family members, we andour close family members will cause suchcompanies to perform the sameDec.28,2016NoneCommitmentshonoredFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.173obligations in this letter of commitmentsas ours through appointed agencies andpersonnel (including but not limited todirectors and managers) and exercise ofthe majority-owned status and undertakenot to incur horizontal competition withthe main business of the listed company.If we, our close family members orcompanies controlled by us or our closefamily members have any businessopportunities to engage or participate inany activities that might compete with themain business of the listed company, thelisted company will be immediatelynotified of the aforesaid businessopportunities, and we will make theutmost effort to give such businessopportunities to the listed companyduring the reasonable period specified inthe notice if the listed company makes apositive reply expressing its willingnessto utilize such business opportunities.4. We acknowledge that each and everycommitment indicated in this letter ofcommitments is independentlyenforceable commitment and anycommitment that is held to be invalid orterminated will not affect the validity ofall remaining commitments; in case ofviolation of any of the aforesaidcommitments, we will bear the direct orindirect economic losses and damages socaused to the listed company and thecosts and expenses in connectiontherewith.Commitment madeat the time of assetreorganizationGao Zhanhe;Yan Junfang;Yan Suifang;YanglingFengyi EquityInvestmentManagementCenter (LP);YanglingXiangyuanEquityInvestmentManagementCenter (LP)Commitments regardinghorizontalcompetition,related-partytransactionsandoccupationof fundsDuring the period in which we holdshares/equities in the listed company andYangling Besun and we or our affiliatesare defined as related parties of the listedcompany and its majority-ownedsubsidiaries as specified by the securitiesregulatory rules:1. with respect to the related-partytransactions already existing andunavoidable in the future between us andcompanies controlled by us (if any) andthe listed company and its majority-owned subsidiaries, we undertake tofollow the arm’s length principle ofmarket transaction, i.e., normalcommercial terms, to make transactionswith the listed company and its majority-owned subsidiaries. If we failed to makeany transactions with the listed companyand its majority-owned subsidiariesaccording to the arm’s length principle ofmarket transaction, causing losses orhaving caused losses to the listedDec.28,2016NoneCommitmentshonoredFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.174company and its majority-ownedsubsidiaries, we will be liable forindemnification.2. We will perform in good faith theobligations as shareholders of the listedcompany, fully respect the independentstatus of legal person of the listedcompany and safeguard the independentoperation and autonomous decisionmaking of the listed company. We willcause directors of the listed companynominated by us (if any) to perform theirduty of faith and diligence according tolaw in strict accordance with theCompany Law of China and the articles ofassociation of the listed company.3. We and our affiliates undertake not tooccupy any funds of the listed companyby means of borrowings, debt service,advance or otherwise or require the listedcompany provide any illegal guaranteesfor the benefit of us and our affiliates.4. If the listed company has to incurunavoidable related-party transactionswith us or any of our affiliates in itsfuture business activities, we will causesuch transactions to perform relatedprocedures strictly according to theapplicable Chinese laws and regulations,articles of association of the listedcompany and related rules of the listedcompany, and we will strictly perform theobligation not to vote when the generalmeetings of the listed company vote onrelated-party transactions; executeagreements with the listed company andtimely conduct information disclosureaccording to law; guarantee that suchtransactions will be conducted accordingto normal commercial conditions and Iand my affiliates will not require, oraccept, the listed companies to offer anyconditions more favorable than thoseoffered to third parties in any arm’slength transaction, and undertake not tojeopardize the legitimate rights andinterests of the listed company and othershareholders through related-partytransaction.5. We and our affiliates will strictly andin good faith perform various related-party transaction agreements signed withthe listed company. We and our affiliateswill not seek from the listed company anyinterests or benefits beyond those setforth in the aforesaid agreements.Commitments None None None None NoneNoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.175made at the time ofIPO or refinancingEquity incentivecommitmentsNone None None None NoneNoneOther commitmentsmade to minorityshareholders of thecompanyNone None None None NoneNoneOther commitments None None None None NoneNoneWhether thecommitments wereperformed on timeYesIf commitmentswere not performedand completedwithin the timelimit, specify thereasons for thefailure to completeperformance andthe next work planNot applicableII. Occupation of non-operating funds of the listed company by the controlling shareholderor its related parties□applicablenot applicableThe company had no occupation of non-operating funds of the listed company by the controlling shareholder or its related partiesduring the reporting period.III. Illegal external guarantees□applicablenot applicableThe company had no illegal external guarantees during the reporting period.IV. Appointment and dismissal of accounting firmWhether the semiannual financial report has been audited□yesnoThe company’s semiannual report is not audited.V. Remarks of the board of directors and board of supervisors on the “nonstandardauditor’s report” issued by the accounting firm for this reporting period□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.176VI. Remarks of the board of directors on details related to the “nonstandard auditor’sreport” for the previous year□applicablenot applicableVII. Bankruptcy reorganization related matters□applicablenot applicableNo bankruptcy reorganization matters occurred in the company during the reporting period.VIII. LitigationsMajor litigations and arbitrations□applicablenot applicableThe company was not involved in major litigations or arbitrations during the reporting period.Other litigations□applicablenot applicableIX. Penalties and rectifications□applicablenot applicableX. Status of integrity of the company and its controlling shareholder and actual controller□applicablenot applicableXI. Significant related-party transactions1. Related-party transactions related to daily operations□applicablenot applicableThe company had no related-party transactions related to daily operations during the reporting period.2. Related-party transactions arising from acquisition or sale of assets or equity□applicablenot applicableThe company had no related-party transactions arising from acquisition or sale of assets or equity during the reporting period3. Related-party transactions arising from joint external investment□applicablenot applicableThe company had no related-party transactions arising from joint external investment during the reporting period.4. Dealings of financial claims and debts with related parties□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.177The company had no dealings of financial claims or debts with related parties during the reporting period.5. Dealings with finance companies affiliated with the companyapplicable □not applicableDeposit businessRelated partyRelated-partyrelationshipDailymaximumdeposit limit(10,000yuan)Range ofdepositinterest rateBeginningbalance(10,000yuan)Current amountEndingbalance(10,000 yuan)Total currentdepositedamount (10,000yuan)Total currentwithdrawnamount (10,000yuan)New HopeFinance Co.,Ltd.Affiliate1,000,0000.35%-4.07% 695,020.1163,790,969.1563,992,365.6493,623.66Loan businessRelated partyRelated-partyrelationshipLoan limit(10,000yuan)Range ofloan interestrateBeginningbalance(10,000yuan)Current amountEndingbalance(10,000yuan)Total currentloan amount(10,000yuan)Total currentrepaidamount(10,000yuan)New HopeFinance Co.,Ltd.Affiliate 5,5003.2%-4% 3,4301,9301,2904,070Credit or other financial businessRelated partyRelated-partyrelationshipBusiness typeTotal amount (10,000yuan)Actually incurredamount (10,000 yuan)New Hope FinanceCo., Ltd.AffiliateOther financialbusiness404,091.52445,501.46. Dealings between finance companies controlled by the company and related parties□applicablenot applicableThere was no deposit, loan, credit or other financial business between finance companies controlled by the company and relatedparties.7. Other significant related-party transactions□applicablenot applicableThe company had no other significant related-party transactions during the reporting period.XII. Significant contracts and their performance1. Trusteeship, contracting and leasing matters(1) Trusteeship□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.178The company had no trusteeship during the reporting period.(2) Contracting□applicablenot applicableThe company had no contracting during the reporting period.(3) Leasing□applicablenot applicableThe company had no leasing during the reporting period.2. Significant guaranteesapplicable □not applicableUnit: 10,000 yuanExternal guarantees provided by the company and its subsidiaries (excluding guarantees provided for subsidiaries)Name ofguaranteebeneficiaryDate ofdisclosureof relatedannouncement ofguaranteedamountGuaranteedamountDateactuallyincurredAmountactuallyguaranteedType ofguaranteeCollaterals(if any)Counterguarantee (ifany)GuaranteeperiodWhetherfullyperformedWhetherrelated-partyguaranteeChengduTianfuXingxinxinFarmingTechnology Co.,Ltd.Jan.14,2023 24,000Jan.16,2023 20,773.29JointandseveralliabilityguaranteeNone None2558daysNo YesRongCountyXinmuFarmingCo., Ltd.Oct.25,2019 25,300Mar.12,2020 23,500JointandseveralliabilityguaranteeNone None3175daysNo YesAnyueNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 15,250May 19,2021 3,317.14JointandseveralliabilityguaranteeNone None2191daysNo YesYanyuanXinliuFarmingTechnology Co.,Ltd.May 29,2021 34,000Jun.15,2021 19,000JointandseveralliabilityguaranteeNone None3604daysNo YesChengduDekangAnimalJun.1,202250,000Feb.22,2023 19,159.37JointandseveralNone None295daysNo NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.179HealthTechnologyServiceCo., Ltd.liabilityguaranteeTotal amount of externalguarantee approvedduring the reportingperiod (A1)24,000Total amount ofexternal guaranteeactually incurred duringthe reporting period(A2)39,932.66Total amount of externalguarantee approved bythe end of the reportingperiod (A3)148,550Total balance of actualexternal guarantee at theend of the reportingperiod (A4)85,749.8Guarantees provided by the company for its subsidiariesName ofguaranteebeneficiaryDate ofdisclosureof relatedannouncement ofguaranteedamountGuaranteedamountDateactuallyincurredAmountactuallyguaranteedType ofguaranteeCollaterals(if any)Counterguarantee (ifany)GuaranteeperiodWhetherfullyperformedWhetherrelated-partyguaranteeAnyangXinliuTechnology Co.,Ltd.Apr.29,2020 10,000Apr.08,2021 8,000JointandseveralliabilityguaranteeNone None2302daysNo YesAnyangXinliuTechnology Co.,Ltd.Apr.29,2020 10,000Jan.20,2021 8,000JointandseveralliabilityguaranteeNone None2380daysNo YesBeijingKingheyFood Co.,Ltd.Apr.29,2020 30,000Jun.12,2020 3,712.71JointandseveralliabilityguaranteeNone None1825daysNo YesBeijingXinliuFarmingTechnology Co.,Ltd.May 29,2021 4,010.85Jun.25,2021 2,431.62JointandseveralliabilityguaranteeNone None4017daysNo YesBeijingXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 28,989.1 5Jun.30,2020 17,575JointandseveralliabilityguaranteeNone None2908daysNo YesBijieXinliuFarmingCo., Ltd.Apr.29,2020 10,600May 19,2020 7,920JointandseveralliabilityNone None3286daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.180guaranteeCaoCountyXinhaoFarmingCo., Ltd.Oct.25,2019 25,000Apr.28,2020 18,999.69JointandseveralliabilityguaranteeNone None1817daysNo YesChenzhouXinhaoFarmingCo., Ltd.Oct.25,2019 65,000Apr.15,2020 30,187.5JointandseveralliabilityguaranteeNone None3285daysNo YesChengduXinjinXinhaoFarmingCo., Ltd.Jun.1,202213,500Dec.28,2022 11,125.75JointandseveralliabilityguaranteeNone None2915daysNo YesDachengXinhaoTechnology Co.,Ltd.May 29,2021 6,800Jul.23,2021 5,960JointandseveralliabilityguaranteeNone None3223daysNo YesShanCountyXinhaoFarmingCo., Ltd.Apr.29,2020 15,000Jan.08,2021 9,247.5JointandseveralliabilityguaranteeNone None1814daysNo YesDong’eNewHopeLiuheSwineBreedingCo., Ltd.Apr.29,2020 16,800May 22,2020 11,200JointandseveralliabilityguaranteeNone None1825daysNo YesDonghaiXinhaoModernFarmingCo., Ltd.Apr.29,2020 20,000Aug.18,2020 10,000JointandseveralliabilityguaranteeNone None1825daysNo YesDongyingXinhaoModernFarmingCo., Ltd.Apr.29,2020 24,000Dec.1,2020 16,800JointandseveralliabilityguaranteeNone None1818daysNo YesDongyingXinhaoModernFarmingCo., Ltd.Apr.29,2020 24,000Dec.29,2020 16,800JointandseveralliabilityguaranteeNone None1790daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.181FupingXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 8,300Nov.12,2020 6,750JointandseveralliabilityguaranteeNone None3111daysNo YesFuxinLiuheFarmingCo., Ltd.Jun.1,202230,000Mar.28,2023 10,000JointandseveralliabilityguaranteeNone None354daysNo YesGansuNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 28,700Jun.29,2020 10,499.66JointandseveralliabilityguaranteeNone None2547daysNo YesGaotangCountyXinhaoFarmingCo., Ltd.Apr.29,2020 20,495.8 8Aug.13,2020 4,401.71JointandseveralliabilityguaranteeNone None1843daysNo YesGaotangCountyXinhaoFarmingCo., Ltd.Apr.29,2020 22,504.1 2Jul.08,2020 4,833JointandseveralliabilityguaranteeNone None2190daysNo YesGuanlingXinmuBreedingCo., Ltd.Apr.29,2020 25,000Oct.29,2020 10,888JointandseveralliabilityguaranteeNone None3651daysNo YesGuang’anXinhaoFarmingCo., Ltd.Apr.29,2020 45,000Apr.23,2021 31,322.24JointandseveralliabilityguaranteeNone None3232daysNo YesGuangdong JiahaoAgriculturalProductsCo., Ltd.Jun.1,202240,000Dec.23,2022 3,000JointandseveralliabilityguaranteeNone None362daysNo YesGuangyuan XinchiFarmingCo., Ltd.Apr.29,2020 5,800Mar.16,2021 5,800JointandseveralliabilityguaranteeNone None3651daysNo YesGuangyuan XinhaoAgricultuApr.29,2020 69,000Jun.30,2020 39,420JointandseveralNone None3650daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.182ralDevelopment Co.,Ltd.liabilityguaranteeGuangzhou LiuheFeed Co.,Ltd.Jun.1,2022 15,463.9 2Jan.06,2023 5,000JointandseveralliabilityguaranteeNone None364daysNo YesGuangzhou LiuheFeed Co.,Ltd.May 23,2023 14,536.0 8Jun.27,2023 4,700JointandseveralliabilityguaranteeNone None364daysNo YesGuigangXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 19,900Mar.12,2021 17,910JointandseveralliabilityguaranteeNone None3501daysNo YesHainanChengmaiNewHopeFarmingCo., Ltd.Apr.29,2020 18,461.5 4Oct.30,2020 3,000JointandseveralliabilityguaranteeNone None1087daysNo YesHainanChengmaiNewHopeFarmingCo., Ltd.Jun.1,2022 11,538.4 6Mar.23,2023 5,000JointandseveralliabilityguaranteeNone None481daysNo YesHainanLingaoXinliuBreedingCo., Ltd.Oct.25,2019 10,400Mar.27,2020 4,500JointandseveralliabilityguaranteeNone None2064daysNo YesHebeiKingheyMeatIndustryCo., Ltd.Jun.1,202223,000Jul.29,2022 19,950JointandseveralliabilityguaranteeNone None1095daysNo YesHebeiXinhaoFuchengAgriculturalTechnology Co.,Ltd.Apr.29,2020 26,500Jun.30,2020 18,346JointandseveralliabilityguaranteeNone None2922daysNo YesHezhouXinhaoFarmingOct.25,2019 53,000Apr.15,2020 26,250JointandseveralNone None3650daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.183Co., Ltd. liabilityguaranteeHeishanXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 15,000Feb.23,2021 12,500JointandseveralliabilityguaranteeNone None1091daysNo YesHengnanCountyMuyunEco-agriculture Co.,Ltd.Apr.29,2020 23,000May 19,2020 10,500JointandseveralliabilityguaranteeNone None3286daysNo YesHengshuiJizhouDistrictXinhaoFarmingCo., Ltd.May 29,2021 12,400Jan.20,2022 11,080JointandseveralliabilityguaranteeNone None2703daysNo YesHengyangXinhaoFarmingCo., Ltd.Apr.29,2020 18,000Nov.2,2020 5,537.83JointandseveralliabilityguaranteeNone None1821daysNo YesHubeiTuanfengNewHopeFeed Co.,Ltd.Jun.1,20227,000Mar.17,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesHubeiXinhaoFarmingCo., Ltd.Apr.29,2020 38,600.4 9Oct.9,202037,035JointandseveralliabilityguaranteeNone None2905daysNo YesHubeiXinhaoFarmingCo., Ltd.Apr.29,2020 18,599.5 1May 28,2020 17,845.18JointandseveralliabilityguaranteeNone None2555daysNo YesHuanggang NewHopeFeedTechnology Co.,Ltd.Jun.1,202215,000Mar.06,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesJiaxiangNewHopeLiuheApr.29,2020 14,000Jun.24,2020 1,400JointandseveralliabilityNone None1447daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.184SwineBreedingCo., Ltd.guaranteeJiangmenLiuheFeed Co.,Ltd.May 29,2021 12,804.8 8Apr.07,2022 9,450JointandseveralliabilityguaranteeNone None1299daysNo YesJiangmenLiuheFeed Co.,Ltd.Apr.29,2020 12,195.1 2Mar.26,2021 9,000JointandseveralliabilityguaranteeNone None1095daysNo YesJiangxiNewHopeLiuheFarmingTechnology Co.,Ltd.Apr.29,2020 21,700May 10,2021 13,562.5JointandseveralliabilityguaranteeNone None1631daysNo YesJiangxiNewHopeFarmingTechnology Co.,Ltd.Jun.1,202210,000Oct.11,2022 5,000JointandseveralliabilityguaranteeNone None346daysNo YesJuluXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 20,000May 19,2021 5,065JointandseveralliabilityguaranteeNone None1825daysNo YesJuyeXinhaoFarmingCo., Ltd.Apr.29,2020 26,000Jul.09,2020 17,500JointandseveralliabilityguaranteeNone None2539daysNo YesKangpingXinwangFarmingCo., Ltd.Apr.29,2020 32,445.9 2Feb.18,2021 17,499.75JointandseveralliabilityguaranteeNone None1812daysNo YesKangpingXinwangFarmingCo., Ltd.Apr.29,2020 1,854.08Feb.23,2021 1,000JointandseveralliabilityguaranteeNone None1091daysNo YesKunmingNewHopeJun.1,202215,000Mar.10,2023 1,000JointandseveralNone None366daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.185AnimalNutritiousFood Co.,Ltd.liabilityguaranteeKunmingNewHopeAgriculturalTechnology Co.,Ltd.Jun.1,20222,500Aug.15,2022 1,000JointandseveralliabilityguaranteeNone None361daysNo YesKunmingNewHopeAgriculturalTechnology Co.,Ltd.May 23,2023 5,000Jun.30,2023 2,000JointandseveralliabilityguaranteeNone None363daysNo YesKunmingNewHopeAgriculturalTechnology Co.,Ltd.Jun.1,20222,500Mar.10,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesLaibinXinhaoFarmingCo., Ltd.Apr.29,2020 40,800Mar.05,2021 23,200JointandseveralliabilityguaranteeNone None1826daysNo YesLaiwuNewHopeLiuheFood Co.,Ltd.Jun.1,202215,000Apr.12,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesLaixiNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 20,352.9 1Jun.28,2020 14,032.38JointandseveralliabilityguaranteeNone None3572daysNo YesLaixiNewHopeLiuheFarmingCo., Ltd.May 29,2021 72,376.1 8May 31,2022 49,900JointandseveralliabilityguaranteeNone None1096daysNo YesLaixiNewHopeLiuheFarmingOct.25,2019 11,089.2 6Apr.17,2020 7,645.53JointandseveralliabilityguaranteNone None3644daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.186Co., Ltd. eLaixiNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 11,181.6 5Oct.28,2020 7,709.23JointandseveralliabilityguaranteeNone None1826daysNo YesLaiyangXinmuBreedingCo., Ltd.Apr.29,2020 13,900Nov.18,2020 12,650JointandseveralliabilityguaranteeNone None3105daysNo YesLaiyangXinhaoLivestockCo., Ltd.Apr.29,2020 19,700Apr.30,2020 12,700JointandseveralliabilityguaranteeNone None1814daysNo YesLezhiXinmuFarmingCo., Ltd.Apr.29,2020 22,950Mar.05,2021 22,950JointandseveralliabilityguaranteeNone None2912daysNo YesLiquanNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 30,000Sept.29,2020 11,400JointandseveralliabilityguaranteeNone None2243daysNo YesLipuXinhaoFarmingTechnology Co.,Ltd.Jun.1,20228,500May 22,2023 5,000JointandseveralliabilityguaranteeNone None359daysNo YesLiaoningKingheyFood Co.,Ltd.Jun.1,202215,000Apr.01,2023 5,000JointandseveralliabilityguaranteeNone None362daysNo YesLiaoningXinwangTechnology Co.,Ltd.Oct.25,2019 71,513.0 7Mar.27,2020 52,503.49JointandseveralliabilityguaranteeNone None3994daysNo YesLiaoningXinwangTechnology Co.,Ltd.Apr.29,2020 30,986.9 3Apr.13,2021 22,750JointandseveralliabilityguaranteeNone None1090daysNo YesLiaocheng XinhaoOct.25,2019 20,600Dec.12,2019 7,219.19JointandNone None1809daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.187FarmingCo., Ltd.severalliabilityguaranteeLiuzhouXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 18,000Oct.27,2020 7,650JointandseveralliabilityguaranteeNone None2905daysNo YesLonghaiNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 45,000Dec.23,2020 8,750JointandseveralliabilityguaranteeNone None1824daysNo YesLonghuiNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 13,300Nov.6,2020 4,875JointandseveralliabilityguaranteeNone None2882daysNo YesLudingXinyueFarmingTechnology Co.,Ltd.Apr.29,2020 3,780Apr.02,2021 3,780JointandseveralliabilityguaranteeNone None2956daysNo YesMeishanXinmuFarmingCo., Ltd.Apr.29,2020 21,450Mar.30,2021 21,450JointandseveralliabilityguaranteeNone None2917daysNo YesNanchongNewHopeFeed Co.,Ltd.May 29,2021 2,105.26Jan.04,2022 1,000JointandseveralliabilityguaranteeNone None1095daysNo YesNanchongNewHopeFeed Co.,Ltd.Apr.29,2020 7,368.42Mar.29,2021 3,500JointandseveralliabilityguaranteeNone None1095daysNo YesNanchongNewHopeFeed Co.,Ltd.Jun.1,2022 10,526.3 2Apr.27,2023 5,000JointandseveralliabilityguaranteeNone None280daysNo YesNanjingXinmuFarmingCo., Ltd.Apr.29,2020 4,987.62Sept.22,2020 2,357.14JointandseveralliabilityguaranteNone None1826daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.188eNanjingXinmuFarmingCo., Ltd.Apr.29,2020 6,612.38Nov.2,2020 3,125JointandseveralliabilityguaranteeNone None1744daysNo YesNanningXinhaoFarmingCo., Ltd.Oct.25,2019 34,000Apr.16,2020 21,000JointandseveralliabilityguaranteeNone None3284daysNo YesNanningXinliuFarmingTechnology Co.,Ltd.Oct.25,2019 20,000Apr.15,2020 9,375JointandseveralliabilityguaranteeNone None2920daysNo YesNanningNewHopeFarmingTechnology Co.,Ltd.May 29,2021 7,902.5Jul.28,2021 2,286.32JointandseveralliabilityguaranteeNone None1264daysNo YesNanningNewHopeFarmingTechnology Co.,Ltd.Jun.1,202212,097.5Mar.31,2023 3,500JointandseveralliabilityguaranteeNone None366daysNo YesNeiqiuXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 29,000Jul.20,2020 27,001.02JointandseveralliabilityguaranteeNone None3286daysNo YesNingboNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 15,400Jul.03,2020 9,375JointandseveralliabilityguaranteeNone None1825daysNo YesNingboNewHopeLiuheFeed Co.,Ltd.Jun.1,20225,000Sept.21,2022 4,950JointandseveralliabilityguaranteeNone None3514daysNo YesNingmingXinhaoFarmingCo., Ltd.Oct.25,2019 45,300Apr.15,2020 30,000JointandseveralliabilityguaranteeNone None3651daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.189NingxiaNewHopeRuminantAnimalNutritiousFood Co.,Ltd.Jun.1,202217,000Jul.14,2022 5,000JointandseveralliabilityguaranteeNone None365daysNo YesPizhouNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 35,000Mar.31,2021 13,500JointandseveralliabilityguaranteeNone None1825daysNo YesPingyuanXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 23,100Mar.01,2021 3,929.91JointandseveralliabilityguaranteeNone None2466daysNo YesPuchengXinliuTechnology Co.,Ltd.Apr.29,2020 23,500Nov.20,2020 12,919.38JointandseveralliabilityguaranteeNone None1825daysNo YesPuyangXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 20,000Jan.06,2021 8,065.71JointandseveralliabilityguaranteeNone None1673daysNo YesQingdaoLiuheFeed Co.,Ltd.Jun.1,20226,000Mar.31,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesQiandongnan NewHopeFarmingTechnology Co.,Ltd.Jun.1,202216,000Feb.27,2023 2,000JointandseveralliabilityguaranteeNone None373daysNo YesRaoyangXinhaoFarmingCo., Ltd.Apr.29,2020 5,000Apr.30,2021 5,000JointandseveralliabilityguaranteeNone None1065daysNo YesRugaoXinhaoFarmingCo., Ltd.Apr.29,2020 5,000Oct.15,2020 5,000JointandseveralliabilityguaranteeNone None1094daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.190RuzhouQuanshengFarmingTechnology Co.,Ltd.Apr.29,2020 8,400Jan.06,2021 6,300JointandseveralliabilityguaranteeNone None1673daysNo YesRuyuanYaoAutonomousCountyXinhaoFarmingCo., Ltd.Jun.1,202212,600Feb.03,2023 7,000JointandseveralliabilityguaranteeNone None988daysNo YesRui'anNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 6,400Nov.13,2020 4,900JointandseveralliabilityguaranteeNone None1864daysNo YesSantaiNewHopeFarmingTechnology Co.,Ltd.May 29,2021 30,000Apr.01,2022 18,100JointandseveralliabilityguaranteeNone None1095daysNo YesShandongKingheyFood Co.,Ltd.May 29,2021 50,000Jul.13,2021 17,645.81JointandseveralliabilityguaranteeNone None2545daysNo YesShandongNewHopeLiuheGroupCo., Ltd.Jun.1,2022150,000Jan.29,2023 5,000JointandseveralliabilityguaranteeNone None363daysNo YesShaoyangXinmuFarmingCo., Ltd.May 29,2021 16,900Jul.30,2021 3,674JointandseveralliabilityguaranteeNone None2457daysNo YesShenzeNewHopeLiuheBreedingCo., Ltd.Apr.29,2020 22,000May 19,2020 18,697JointandseveralliabilityguaranteeNone None2909daysNo YesShiyanXinyueFarmingTechnology Co.,Apr.29,2020 26,600Apr.15,2021 9,075JointandseveralliabilityguaranteNone None2918daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.191Ltd. eShuozhouXinhaoFarmingCo., Ltd.Apr.29,2020 30,000Sept.01,2020 28,000JointandseveralliabilityguaranteeNone None1283daysNo YesSichuanNewHopeAnimalNutritionTechnology Co.,Ltd.Jun.1,2022400,000Apr.17,2023 19,438.52JointandseveralliabilityguaranteeNone None151daysNo YesSichuanNewHopeLiuheFarmingCo., LtdOct.25,2019 200,000Dec.31,2019 28,235JointandseveralliabilityguaranteeNone None2551daysNo YesSuixiXinhaoFarmingCo., Ltd.Apr.29,2020 4,000Mar.29,2021 3,000JointandseveralliabilityguaranteeNone None1826daysNo YesTaiqianXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 10,000Aug.27,2020 8,000JointandseveralliabilityguaranteeNone None2489daysNo YesTaiqianXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 10,000Aug.27,2020 8,000JointandseveralliabilityguaranteeNone None2489daysNo YesTaizhouNewHopeAgriculture Co.,Ltd.Jun.1,20223,000Mar.16,2023 2,000JointandseveralliabilityguaranteeNone None726daysNo YesTangshanXinhaoFarmingCo., Ltd.Oct.25,2019 20,476.1 9Apr.24,2020 16,200JointandseveralliabilityguaranteeNone None1825daysNo YesTangshanXinhaoFarmingCo., Ltd.Apr.29,2020 44,023.8 1May 8,202034,830JointandseveralliabilityguaranteeNone None2911daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.192TianjinXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 36,267.4 3Feb.05,2021 17,873.91JointandseveralliabilityguaranteeNone None3260daysNo YesTianjinXinliuFarmingTechnology Co.,Ltd.May 23,2023 16,232.5 7Jun.07,2023 8,000JointandseveralliabilityguaranteeNone None365daysNo YesTianjinNewHopeLiuheFarmingTechnology Co.,Ltd.Jun.1,202225,500Mar.10,2023 10,743.55JointandseveralliabilityguaranteeNone None3288daysNo YesTongcheng XinliuFarmingTechnology Co.,Ltd.Apr.29,2020 11,905.7 3Jan.27,2021 9,023.19JointandseveralliabilityguaranteeNone None1747daysNo YesTongcheng XinliuFarmingTechnology Co.,Ltd.May 29,2021 5,818.82Jan.01,2022 4,410JointandseveralliabilityguaranteeNone None2119daysNo YesTongcheng XinliuFarmingTechnology Co.,Ltd.Apr.29,2020 16,775.4 5Feb.23,2021 12,713.88JointandseveralliabilityguaranteeNone None2431daysNo YesWeinanXinliuTechnology Co.,Ltd.Oct.25,2019 51,444.0 7Dec.24,2019 40,000JointandseveralliabilityguaranteeNone None4382daysNo YesWeinanXinliuTechnology Co.,Ltd.Apr.29,2020 5,555.93Mar.02,2021 4,319.98JointandseveralliabilityguaranteeNone None1874daysNo YesWuqiXinliuTechnology Co.,Ltd.Apr.29,2020 18,000Sept.15,2020 8,000JointandseveralliabilityguaranteeNone None2622daysNo YesWuhe May 29,4,910.62 Jun.29,2,400 Joint None None 1461 No YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.193NewHopeLiuheLivestockCo., Ltd.20212021 andseveralliabilityguaranteedaysWuheNewHopeLiuheLivestockCo., Ltd.Apr.29,2020 16,927.6 7Jun.04,2020 8,273.18JointandseveralliabilityguaranteeNone None1825daysNo YesWuheNewHopeLiuheLivestockCo., Ltd.Apr.29,2020 41,637.9 3Sept.29,2020 20,350JointandseveralliabilityguaranteeNone None2916daysNo YesWuheNewHopeLiuheLivestockCo., Ltd.Apr.29,2020 40,921.8May 22,2020 20,000JointandseveralliabilityguaranteeNone None2548daysNo YesWuheNewHopeLiuheLivestockCo., Ltd.Apr.29,2020 21,590.8 1May 20,2020 10,552.23JointandseveralliabilityguaranteeNone None2547daysNo YesWuheNewHopeLiuheLivestockCo., Ltd.Apr.29,2020 36,011.1 8Mar.24,2021 17,600JointandseveralliabilityguaranteeNone None2557daysNo YesWulianXinhaoFarmingCo., Ltd.Apr.29,2020 10,200Jun.24,2020 4,983.33JointandseveralliabilityguaranteeNone None1822daysNo YesWulongNewHopeLiuheFeed Co.,Ltd.May 23,2023 10,000Jun.27,2023 5,000JointandseveralliabilityguaranteeNone None364daysNo YesWuweiNewHopeLiuheFeed Co.,Ltd.Jun.1,20226,000Jan.20,2023 1,778JointandseveralliabilityguaranteeNone None1942daysNo YesXiajiangXinliuFarmingCo., Ltd.Apr.29,2020 6,000Feb.04,2021 3,750JointandseveralliabilityNone None1713daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.194guaranteeXiangshanHuatongLivestockCo., Ltd.Apr.29,2020 20,000May 21,2021 12,000JointandseveralliabilityguaranteeNone None1754daysNo YesXinjiXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 10,909.0 9Jan.08,2021 6,000JointandseveralliabilityguaranteeNone None2355daysNo YesXinjiXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 29,090.9 1Jan.14,2021 16,000JointandseveralliabilityguaranteeNone None2349daysNo YesNewHopeLiuhe(Zibo)AgriculturalTechnologyDevelopment Co.,Ltd.May 29,2021 25,000Apr.01,2022 6,206JointandseveralliabilityguaranteeNone None2518daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 78,415.5 3Oct.19,2020 36,129JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Jun.1,2022 31,366.2 1Dec.19,2022 14,451.6JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Jun.1,2022 79,269.5 4Mar.24,2023 36,522.47JointandseveralliabilityguaranteeNone None221daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 94,098.6 4Oct.19,2020 43,354.8JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeApr.29,2020 101,519.39Oct.19,2020 46,773.82JointandNone None1095daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.195SingaporePte. Ltd.severalliabilityguaranteeNewHopeSingaporePte. Ltd.Jun.1,20225,661.51May 11,2023 2,608.47JointandseveralliabilityguaranteeNone None 91 days No YesNewHopeSingaporePte. Ltd.Jun.1,2022 31,049.2 2Mar.22,2023 14,305.55JointandseveralliabilityguaranteeNone None187daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 78,415.5 3Oct.19,2020 36,129JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Jun.1,2022 50,616.2 8Apr.14,2023 23,320.84JointandseveralliabilityguaranteeNone None229daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 78,415.5 3Oct.19,2020 36,129JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 27,445.4 4Oct.19,2020 12,645.15JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 27,445.4 4Oct.19,2020 12,645.15JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 31,366.2 1Oct.19,2020 14,451.6JointandseveralliabilityguaranteeNone None1095daysNo YesNewHopeSingaporePte. Ltd.Apr.29,2020 78,415.5 3Oct.19,2020 36,129JointandseveralliabilityguaranteNone None1095daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.196eXingrenXinliuFarmingTechnology Co.,Ltd.Apr.29,2020 11,000Sept.30,2020 9,487.5JointandseveralliabilityguaranteeNone None2914daysNo YesYantaiXinhaoFarmingCo., Ltd.Apr.29,2020 17,553.3 1Oct.12,2020 12,276.48JointandseveralliabilityguaranteeNone None1780daysNo YesYantaiXinhaoFarmingCo., Ltd.Apr.29,2020 20,546.6 9Oct.27,2020 14,370JointandseveralliabilityguaranteeNone None1812daysNo YesYantingXinhaoFarmingCo., Ltd.Apr.29,2020 6,950.18Dec.21,2020 3,017.3JointandseveralliabilityguaranteeNone None1808daysNo YesYantingXinhaoFarmingCo., Ltd.May 29,2021 41,461.9 6Jan.01,2022 18,000JointandseveralliabilityguaranteeNone None1185daysNo YesYantingXinhaoFarmingCo., Ltd.Apr.26,2019 21,587.8 6Sept.30,2019 9,372JointandseveralliabilityguaranteeNone None1827daysNo YesYanshiLiuheFeed Co.,Ltd.Jun.1,202210,000Jun.24,2022 2,800JointandseveralliabilityguaranteeNone None728daysNo YesYangguLiuheLuxinFood Co.,Ltd.Jun.1,202215,000Apr.25,2023 5,000JointandseveralliabilityguaranteeNone None366daysNo YesYanglingBesunAgriculturalIndustryGroupCo., Ltd.Jun.1,2022 11,981.5 4Jun.02,2022 2,643.89JointandseveralliabilityguaranteeNone None2394daysNo YesYangling Apr.26,24,018.4 Sept.24,5,300 Joint None None 1827 No YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.197BesunAgriculturalIndustryGroupCo., Ltd.201962019 andseveralliabilityguaranteedaysYishuiLiuheFeed Co.,Ltd.Jun.1,20226,000Apr.13,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesYijunXinliuTechnology Co.,Ltd.Oct.25,2019 16,500Nov.15,2019 14,100JointandseveralliabilityguaranteeNone None4382daysNo YesYinchengXinhaoFarmingCo., Ltd.Apr.29,2020 50,791.4 8Aug.18,2020 26,165.79JointandseveralliabilityguaranteeNone None3776daysNo YesYinchengXinhaoFarmingCo., Ltd.Apr.29,2020 16,208.5 2Sept.25,2020 8,350JointandseveralliabilityguaranteeNone None2922daysNo YesYunchengDingtaiFeed Co.,Ltd.Jun.1,20223,000Apr.12,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesZhanjiangGuoxiongFeed Co.,Ltd.May 29,2021 15,000Apr.19,2022 4,800JointandseveralliabilityguaranteeNone None731daysNo YesZhangwuXinwangFarmingCo., Ltd.May 29,2021 19,900Jan.04,2022 11,300JointandseveralliabilityguaranteeNone None3612daysNo YesZhaoqingXinhaoFarmingCo., Ltd.Apr.29,2020 26,600Feb.10,2021 18,596JointandseveralliabilityguaranteeNone None2555daysNo YesZhejiangYihaiAgricultuApr.29,2020 13,049.4 9Aug.04,2020 7,500JointandseveralNone None1811daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.198ralDevelopment Co.Ltd.liabilityguaranteeZhejiangYihaiAgriculturalDevelopment Co.Ltd.Apr.29,2020 7,250.51Nov.9,2020 4,167.13JointandseveralliabilityguaranteeNone None2846daysNo YesZhenjiangNewHopeLiuheFarmingCo., Ltd.Apr.29,2020 20,000Mar.19,2021 5,000JointandseveralliabilityguaranteeNone None1734daysNo YesChongqing NewHopeFeed Co.,Ltd.May 29,2021 40,000May 31,2021 16,000JointandseveralliabilityguaranteeNone None1095daysNo YesZiboXinhaoFarmingCo., Ltd.Jun.1,20222,304.49Jul.06,2022 1,166.19JointandseveralliabilityguaranteeNone None2789daysNo YesZiboXinhaoFarmingCo., Ltd.Apr.29,20209,695.51 May 6,20214,906.42JointandseveralliabilityguaranteeNone None3215daysNo YesXiangyang NewHopeLiuheFeed Co.,Ltd.Jun.1,202210,000Mar.02,2023 1,000JointandseveralliabilityguaranteeNone None366daysNo YesLaiyangNewHopeLiuheFeed Co.,Ltd.Jun.1,20225,285.6 Feb.8,20235,285.6JointandseveralliabilityguaranteeNone None288daysNo YesShouguang LiuheDingtaiFeed Co.,Ltd.Jun.1,20222,129.8 Feb.8,20232,129.8JointandseveralliabilityguaranteeNone None289daysNo YesAnqiuLiuheFeed Co.,Ltd.Jun.1,20225,292.47 Feb.8,20235,292.47JointandseveralliabilityNone None289daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.199guaranteeLezhiXinmuFarmingCo., Ltd.Jun.1,202270.09 Feb.8,202370.09JointandseveralliabilityguaranteeNone None179daysNo YesTangshanXinhaoFarmingCo., Ltd.Jun.1,2022137.56Feb.09,2023 137.56JointandseveralliabilityguaranteeNone None180daysNo YesZhangwuXinwangFarmingCo., Ltd.Jun.1,2022251.32Feb.09,2023 251.32JointandseveralliabilityguaranteeNone None299daysNo YesShibingCountyNewHopeLiuheBreedingCo., Ltd.Jun.1,202291.33Feb.09,2023 91.33JointandseveralliabilityguaranteeNone None180daysNo YesLaixiNewHopeLiuheFarmingCo., Ltd.Jun.1,2022458.64Feb.20,2023 458.64JointandseveralliabilityguaranteeNone None291daysNo YesHezeXinhaoFarmingCo., Ltd.Jun.1,202222.44Feb.24,2023 22.44JointandseveralliabilityguaranteeNone None180daysNo YesHubeiXinhaoFarmingCo., Ltd.Jun.1,2022141.06Mar.03,2023 141.06JointandseveralliabilityguaranteeNone None270daysNo YesTianjinXinliuFarmingTechnology Co.,Ltd.Jun.1,2022870.85Mar.03,2023 870.85JointandseveralliabilityguaranteeNone None281daysNo YesLiaoningXinwangTechnology Co.,Ltd.Jun.1,2022524.51Mar.07,2023 524.51JointandseveralliabilityguaranteeNone None258daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.200YishuiNewHopeLiuheFood Co.,Ltd.Jun.1,20222,087.65Mar.07,2023 2,087.65JointandseveralliabilityguaranteeNone None175daysNo YesWeifangLiuheFeed Co.,Ltd.Jun.1,2022 17,538.0 9Mar.07,2023 17,538.09JointandseveralliabilityguaranteeNone None275daysNo YesChangleCountyLiwangBreedingCo., Ltd.Jun.1,20222,070.65Mar.07,2023 2,070.65JointandseveralliabilityguaranteeNone None182daysNo YesAnshanLiuheRentaiFeed Co.,Ltd.Jun.1,202281.84Mar.07,2023 81.84JointandseveralliabilityguaranteeNone None184daysNo YesWeifangHeshengyuan FoodCo., Ltd.Jun.1,2022982.87Mar.07,2023 982.87JointandseveralliabilityguaranteeNone None182daysNo YesChangyiLiuheXinrongFeed Co.,Ltd.Jun.1,20221,911.47Mar.08,2023 1,911.47JointandseveralliabilityguaranteeNone None275daysNo YesXiangyang NewHopeLiuheFeed Co.,Ltd.Jun.1,2022459.45Mar.08,2023 459.45JointandseveralliabilityguaranteeNone None184daysNo YesLijinCountyNewHopeLiuheBreedingCo., Ltd.Jun.1,2022364.04Mar.08,2023 364.04JointandseveralliabilityguaranteeNone None187daysNo YesYunchengLiuheFood Co.,Ltd.Jun.1,2022711.23Mar.08,2023 711.23JointandseveralliabilityguaranteeNone None240daysNo YesJingzhouNewJun.1,2022478.47Mar.10,2023 478.47JointandNone None231daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.201HopeFeed Co.,Ltd.severalliabilityguaranteeHuanggang NewHopeFeedTechnology Co.,Ltd.Jun.1,20221,548.52Mar.10,2023 1,548.52JointandseveralliabilityguaranteeNone None242daysNo YesJingCountyXinhaoFarmingCo., Ltd.Jun.1,2022100Mar.10,2023 100JointandseveralliabilityguaranteeNone None183daysNo YesSichuanXinheImport &ExportCo., Ltd.Jun.1,2022576.28Mar.13,2023 576.28JointandseveralliabilityguaranteeNone None263daysNo YesJuyeXinhaoFarmingCo., Ltd.Jun.1,2022228.88Mar.13,2023 228.88JointandseveralliabilityguaranteeNone None242daysNo YesKunmingNewHopeAgriculturalTechnology Co.,Ltd.Jun.1,202245.87Mar.15,2023 45.87JointandseveralliabilityguaranteeNone None183daysNo YesZoupingLiuheBroilerBreedingCo., Ltd.Jun.1,2022108.9Mar.15,2023 108.9JointandseveralliabilityguaranteeNone None184daysNo YesRizhaoXinhaoFarmingCo., Ltd.Jun.1,2022330.37Mar.17,2023 330.37JointandseveralliabilityguaranteeNone None245daysNo YesQingdaoXinhangEngineeringManagement Co.,Ltd.Jun.1,20221,242.33Mar.21,2023 1,242.33JointandseveralliabilityguaranteeNone None259daysNo YesChangnin Jun.1,202244.37 Mar.21,44.37 Joint None None 184 No YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.202g CountyNewHopeLiuheEcological FarmingTechnology Co.,Ltd.2023 andseveralliabilityguaranteedaysSanyuanNewHopeFeed Co.,Ltd.Jun.1,202217Mar.27,2023 17JointandseveralliabilityguaranteeNone None183daysNo YesTaizhouNewHopeAgriculture Co.,Ltd.Jun.1,2022594.16Mar.28,2023 594.16JointandseveralliabilityguaranteeNone None233daysNo YesHengyangXinhaoFarmingCo., Ltd.Jun.1,2022241.74Mar.28,2023 241.74JointandseveralliabilityguaranteeNone None239daysNo YesSheyangLiuheFeed Co.,Ltd.Jun.1,202224Mar.30,2023 24JointandseveralliabilityguaranteeNone None183daysNo YesBaiyinNewHopeFarmingTechnology Co.,Ltd.Jun.1,2022238.09Apr.04,2023 238.09JointandseveralliabilityguaranteeNone None153daysNo YesYantingXinhaoFarmingCo., Ltd.Jun.1,2022658.86Apr.07,2023 658.86JointandseveralliabilityguaranteeNone None231daysNo YesChenzhouXinhaoFarmingCo., Ltd.Jun.1,2022316.95Apr.10,2023 316.95JointandseveralliabilityguaranteeNone None233daysNo YesBeijingXinliuFarmingTechnology Co.,Jun.1,202226.94Apr.10,2023 26.94JointandseveralliabilityguaranteNone None182daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.203Ltd. eMianyangNewHopeLiuheFarmingTechnology Co.,Ltd.Jun.1,2022230.5Apr.10,2023 230.5JointandseveralliabilityguaranteeNone None183daysNo YesXingrenXinliuFarmingTechnology Co.,Ltd.Jun.1,2022175.81Apr.12,2023 175.81JointandseveralliabilityguaranteeNone None180daysNo YesYiyangNewHopeFeed Co.,Ltd.Jun.1,2022180Apr.17,2023 180JointandseveralliabilityguaranteeNone None186daysNo YesHorqinLeftWingMiddleBannerXinhaoFarmingCo., Ltd.Jun.1,202217.98Apr.18,2023 17.98JointandseveralliabilityguaranteeNone None183daysNo YesNangongXinhaoKingheyFarmingCo., Ltd.Jun.1,2022179.28Apr.18,2023 179.28JointandseveralliabilityguaranteeNone None184daysNo YesXianyangYongxiangAgriculturalTechnology Co.,Ltd.Jun.1,2022121.21Apr.20,2023 121.21JointandseveralliabilityguaranteeNone None188daysNo YesRuyuanYaoAutonomousCountyXinhaoFarmingCo., Ltd.Jun.1,2022128.78Apr.20,2023 128.78JointandseveralliabilityguaranteeNone None222daysNo YesHanzhongNewHopeLiuheFarmingTechnoloJun.1,2022267.14Apr.20,2023 267.14JointandseveralliabilityguaranteeNone None225daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.204gy Co.,Ltd.AnyangXinliuTechnology Co.,Ltd.Jun.1,202230.95Apr.21,2023 30.95JointandseveralliabilityguaranteeNone None182daysNo YesNanningWumingDistrictXinliuFarmingTechnology Co.,Ltd.Jun.1,202226.91Apr.21,2023 26.91JointandseveralliabilityguaranteeNone None222daysNo YesRugaoXinhaoFarmingCo., Ltd.Jun.1,20227.16Apr.21,2023 7.16JointandseveralliabilityguaranteeNone None180daysNo YesChangleNewHopeLiuheFarmingCo., Ltd.Jun.1,202277.55Apr.21,2023 77.55JointandseveralliabilityguaranteeNone None188daysNo YesNanningXinhaoFarmingCo., Ltd.Jun.1,202244Apr.24,2023 44JointandseveralliabilityguaranteeNone None206daysNo YesYanglingBesunAgriculturalIndustryGroupCo., Ltd.Jun.1,2022454.99Apr.24,2023 454.99JointandseveralliabilityguaranteeNone None218daysNo YesQianweiXinhaoFarmingCo., Ltd.Jun.1,202285.61Apr.24,2023 85.61JointandseveralliabilityguaranteeNone None183daysNo YesHubeiTuanfengNewHopeFeed Co.,Ltd.Jun.1,2022141.06Apr.26,2023 141.06JointandseveralliabilityguaranteeNone None211daysNo YesZhenyuanXinmuAgriculturalJun.1,202294.78Apr.26,2023 94.78JointandseveralliabilityNone None189daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.205Development Co.,Ltd.guaranteeJunanLiuheBreedingCo., Ltd.Jun.1,202265.73Apr.26,2023 65.73JointandseveralliabilityguaranteeNone None202daysNo YesYan’anBenyuanAgriculturalTechnologyDevelopment Co.,Ltd.Jun.1,2022122.11Apr.27,2023 122.11JointandseveralliabilityguaranteeNone None205daysNo YesDachengXinhaoTechnology Co.,Ltd.Jun.1,2022142.78Apr.27,2023 142.78JointandseveralliabilityguaranteeNone None230daysNo YesBinzhouNewHopeLiuheFarmingCo., Ltd.Jun.1,2022112.92Apr.28,2023 112.92JointandseveralliabilityguaranteeNone None208daysNo YesLaibinXinhaoFarmingCo., Ltd.Jun.1,2022160.39Apr.28,2023 160.39JointandseveralliabilityguaranteeNone None210daysNo YesShiyanXinyueFarmingTechnology Co.,Ltd.Jun.1,202212.3Apr.28,2023 12.3JointandseveralliabilityguaranteeNone None180daysNo YesDong’eNewHopeLiuheSwineBreedingCo., Ltd.Jun.1,202299.81 May 4,202399.81JointandseveralliabilityguaranteeNone None190daysNo YesHainanLingaoXinliuBreedingCo., Ltd.Jun.1,2022498.51 May 5,2023498.51JointandseveralliabilityguaranteeNone None216daysNo YesJiangxiNewJun.1,202295.73 May 5,202395.73JointandNone None179daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.206HopeLiuheFarmingTechnology Co.,Ltd.severalliabilityguaranteeNingmingXinhaoFarmingCo., Ltd.Jun.1,20225.97 May 5,20235.97JointandseveralliabilityguaranteeNone None180daysNo YesShandongXiangshengLivestockandPoultryBreedingCo., Ltd.Jun.1,2022991.6 May 6,2023991.6JointandseveralliabilityguaranteeNone None213daysNo YesJiaxiangNewHopeLiuheFood Co.,Ltd.Jun.1,20221,338.55 May 6,20231,338.55JointandseveralliabilityguaranteeNone None181daysNo YesXiajiangXinliuFarmingCo., Ltd.Jun.1,2022284.94 May 6,2023284.94JointandseveralliabilityguaranteeNone None180daysNo YesShenzeNewHopeLiuheBreedingCo., Ltd.Jun.1,2022199.88 May 8,2023199.88JointandseveralliabilityguaranteeNone None210daysNo YesShanCountyXinhaoFarmingCo., Ltd.Jun.1,20224.96Mar.9,2023 4.96JointandseveralliabilityguaranteeNone None183daysNo YesLangzhong XinliuFarmingTechnology Co.,Ltd.Jun.1,202223.06May 10,2023 23.06JointandseveralliabilityguaranteeNone None179daysNo YesHebeiXinhaoFuchengAgriculturalTechnology Co.,Jun.1,202284.31May 11,2023 84.31JointandseveralliabilityguaranteeNone None184daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.207Ltd.SantaiNewHopeFarmingTechnology Co.,Ltd.Jun.1,2022109.33May 11,2023 109.33JointandseveralliabilityguaranteeNone None214daysNo YesGuang’anXinhaoFarmingCo., Ltd.Jun.1,2022140.98May 11,2023 140.98JointandseveralliabilityguaranteeNone None193daysNo YesShanCountyLiuheFeed Co.,Ltd.Jun.1,20221,436.93May 11,2023 1,436.93JointandseveralliabilityguaranteeNone None211daysNo YesPingyuanXinliuFarmingTechnology Co.,Ltd.Jun.1,202218.62May 12,2023 18.62JointandseveralliabilityguaranteeNone None182daysNo YesZhangjiakouXinwangFarmingCo., Ltd.Jun.1,2022421.57May 12,2023 421.57JointandseveralliabilityguaranteeNone None207daysNo YesSuiningXinliuFarmingTechnology Co.,Ltd.Jun.1,2022111.7May 12,2023 111.7JointandseveralliabilityguaranteeNone None182daysNo YesWuheNewHopeLiuheLivestockCo., Ltd.Jun.1,202292.74May 15,2023 92.74JointandseveralliabilityguaranteeNone None207daysNo YesKangpingXinwangFarmingCo., Ltd.Jun.1,202258.8May 16,2023 58.8JointandseveralliabilityguaranteeNone None184daysNo YesGaomiXinliuFarmingTechnology Co.,Ltd.Jun.1,2022265.15May 17,2023 265.15JointandseveralliabilityguaranteeNone None183daysNo YesYichun Jun.1,2022141.18 May 17,141.18 Joint None None 202 No YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.208XinwangFarmingCo., Ltd.2023 andseveralliabilityguaranteedaysCaoCountyXinhaoFarmingCo., Ltd.Jun.1,2022274.26May 17,2023 274.26JointandseveralliabilityguaranteeNone None183daysNo YesWannianCountyNewHopeLiuheFarmingCo., Ltd.Jun.1,202221.56May 17,2023 21.56JointandseveralliabilityguaranteeNone None180daysNo YesZhuchengXinliuFarmingTechnology Co.,Ltd.Jun.1,202267.72May 18,2023 67.72JointandseveralliabilityguaranteeNone None194daysNo YesShaoyangXinmuFarmingCo., Ltd.Jun.1,2022175.6Mar.14,2023 175.6JointandseveralliabilityguaranteeNone None267daysNo YesLuochuanXinliuTechnology Co.,Ltd.Jun.1,20222May 22,2023 2JointandseveralliabilityguaranteeNone None179daysNo YesZhaoqingXinhaoFarmingCo., Ltd.Jun.1,202291.61May 22,2023 91.61JointandseveralliabilityguaranteeNone None179daysNo YesChenzhouXinyueFarmingTechnology Co.,Ltd.May 23,2023 113May 23,2023 113JointandseveralliabilityguaranteeNone None178daysNo YesXiajinXinhaoFeed Co.,Ltd.May 23,2023 100May 23,2023 100JointandseveralliabilityguaranteeNone None183daysNo YesRuzhouQuanshengMay 23,2023 412.94May 23,2023 412.94JointandseveralNone None196daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.209FarmingTechnology Co.,Ltd.liabilityguaranteeNingboNewHopeLiuheFarmingCo., Ltd.May 23,2023 6.29May 23,2023 6.29JointandseveralliabilityguaranteeNone None178daysNo YesZihongHengboFeedTechnology Co.,Ltd.May 23,2023 42.95May 24,2023 42.95JointandseveralliabilityguaranteeNone None190daysNo YesRaoyangXinhaoFarmingCo., Ltd.May 23,2023 51.51May 24,2023 51.51JointandseveralliabilityguaranteeNone None184daysNo YesXinjiXinliuFarmingTechnology Co.,Ltd.May 23,2023 69.37May 25,2023 69.37JointandseveralliabilityguaranteeNone None195daysNo YesYantaiXinhaoFarmingCo., Ltd.May 23,2023 100.48May 25,2023 100.48JointandseveralliabilityguaranteeNone None183daysNo YesJuyeLiuheFeed Co.,Ltd.May 23,2023 671.38May 25,2023 671.38JointandseveralliabilityguaranteeNone None183daysNo YesFenxiNewHopeLiuheFood Co.,Ltd.May 23,2023 1,087.11May 25,2023 1,087.11JointandseveralliabilityguaranteeNone None183daysNo YesFupingXinliuFarmingTechnology Co.,Ltd.May 23,2023 14.63May 25,2023 14.63JointandseveralliabilityguaranteeNone None183daysNo YesTianjinNewHopeLiuheFarmingMay 23,2023 301.83May 26,2023 301.83JointandseveralliabilityguaranteNone None196daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.210Technology Co.,Ltd.eLaiyangXinhaoLivestockCo., Ltd.May 23,2023 25.04May 29,2023 25.04JointandseveralliabilityguaranteeNone None164daysNo YesGuangxiLuochengXinhaoFarmingCo., Ltd.May 23,2023 23.89May 30,2023 23.89JointandseveralliabilityguaranteeNone None174daysNo YesDingzhouXinhaoFarmingCo., Ltd.May 23,2023 2.2May 30,2023 2.2JointandseveralliabilityguaranteeNone None183daysNo YesPanzhouXinliuFarmingDevelopment Co.,Ltd.May 23,2023 61.05May 31,2023 61.05JointandseveralliabilityguaranteeNone None180daysNo YesManningXinliuFarmingTechnology Co.,Ltd.May 23,2023121.86 Jun.1,2023121.86JointandseveralliabilityguaranteeNone None180daysNo YesPizhouNewHopeLiuheFarmingCo., Ltd.May 23,202368.96 Jun.1,202368.96JointandseveralliabilityguaranteeNone None183daysNo YesHezhouXinhaoFarmingCo., Ltd.May 23,2023 137.65Jun.02,2023 137.65JointandseveralliabilityguaranteeNone None179daysNo YesLonghuiNewHopeLiuheFarmingCo., Ltd.May 23,2023 44.79Jun.05,2023 44.79JointandseveralliabilityguaranteeNone None180daysNo YesHeyangZhengheModernFarmingCo., Ltd.May 23,2023 7.51Jun.06,2023 7.51JointandseveralliabilityguaranteeNone None170daysNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.211PingxiangNewHopeLiuheFeed Co.,Ltd.May 23,2023 100.86Jun.08,2023 100.86JointandseveralliabilityguaranteeNone None176daysNo YesTangshanXinhaoEnvironmentalProtectionTechnology Co.,Ltd.May 23,2023 234.24Jun.08,2023 234.24JointandseveralliabilityguaranteeNone None183daysNo YesDezhouXinhaoFarmingCo., Ltd.May 23,2023 156.49Jun.09,2023 156.49JointandseveralliabilityguaranteeNone None182daysNo YesGuangyuan XinhaoAgriculturalDevelopment Co.,Ltd.May 23,2023 224.76Jun.12,2023 224.76JointandseveralliabilityguaranteeNone None182daysNo YesGuanghanGuoxiongFeed Co.,Ltd.May 23,2023 800May 23,2023 152.81JointandseveralliabilityguaranteeNone NoneOneyearNo YesChongqing NewHopeFeed Co.,Ltd.May 23,2023 3,000May 23,2023 586.65JointandseveralliabilityguaranteeNone NoneOneyearNo YesKaiCountyNewHopeFeed Co.,Ltd.May 23,2023 1,000May 23,2023 0.03JointandseveralliabilityguaranteeNone NoneOneyearNo YesKunmingNewHopeAgriculturalTechnology Co.,Ltd.May 23,2023 2,000May 23,2023 172.17JointandseveralliabilityguaranteeNone NoneOneyearNo YesKunmingNewHopeAnimalMay 23,2023 3,000May 23,2023 48.29JointandseveralliabilityNone NoneOneyearNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.212NutritiousFood Co.,Ltd.guaranteeZunyiJiahaoFeed Co.,Ltd.May 23,2023 2,000May 23,2023 47.98JointandseveralliabilityguaranteeNone NoneOneyearNo YesNewHopeLiuheFeed Co.,Ltd.PingyuanBanchMay 23,2023 200May 23,2023 0.28JointandseveralliabilityguaranteeNone NoneOneyearNo YesQingyunLiuheFeed Co.,Ltd.May 23,2023 400May 23,2023 35.56JointandseveralliabilityguaranteeNone NoneOneyearNo YesLiaocheng LiuheFeed Co.,Ltd.May 23,2023 200May 23,2023 34.81JointandseveralliabilityguaranteeNone NoneOneyearNo YesYingtanNewHopeFeed Co.,Ltd.May 23,2023 5,000May 23,2023 2.65JointandseveralliabilityguaranteeNone NoneOneyearNo YesAnyangNewHopeLiuheFeed Co.,Ltd.May 23,2023 2,000May 23,2023 85.4JointandseveralliabilityguaranteeNone NoneOneyearNo YesGushiLiuheCo., Ltd.May 23,2023 3,000May 23,2023 0.39JointandseveralliabilityguaranteeNone NoneOneyearNo YesHenanLiuheFeed Co.,Ltd.May 23,2023 3,550May 23,2023 229.45JointandseveralliabilityguaranteeNone NoneOneyearNo YesBaojiNewHopeFarmingCo., Ltd.May 23,2023 300May 23,2023 50.81JointandseveralliabilityguaranteNone NoneOneyearNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.213eYanshiLiuheFeed Co.,Ltd.May 23,2023 3,000May 23,2023 78.51JointandseveralliabilityguaranteeNone NoneOneyearNo YesLingbaoNewHopeLiuheFeed Co.,Ltd.May 23,2023 200May 23,2023 10.96JointandseveralliabilityguaranteeNone NoneOneyearNo YesXuancheng LiuheFeed Co.,Ltd.May 23,2023 350May 23,2023 39.26JointandseveralliabilityguaranteeNone NoneOneyearNo YesJinanNewHopeLiuheFeed Co.,Ltd.May 23,2023 2,000May 23,2023 144.58JointandseveralliabilityguaranteeNone NoneOneyearNo YesTangshanNewHopeLiuheFeed Co.,Ltd.May 23,2023 3,000May 23,2023 1.81JointandseveralliabilityguaranteeNone NoneOneyearNo YesHebeiNewHopeFeed Co.,Ltd.May 23,2023 6,000May 23,2023 34.64JointandseveralliabilityguaranteeNone NoneOneyearNo YesBeijingNewHopeFarmingTechnology Co.,Ltd.May 23,2023 2,000May 23,2023 6.85JointandseveralliabilityguaranteeNone NoneOneyearNo YesShouguang LiuheDingtaiFeed Co.,Ltd.May 23,2023 4,000May 23,2023 287.01JointandseveralliabilityguaranteeNone NoneOneyearNo YesPingxiangNewHopeFeed Co.,Ltd.May 23,2023 400May 23,2023 40JointandseveralliabilityguaranteeNone NoneOneyearNo YesHandan May 23,2,000 May 23,54.83 Joint None None One No YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.214LiuheHuayuFeed Co.,Ltd.20232023 andseveralliabilityguaranteeyearJiangmenLiuheFeed Co.,Ltd.May 23,2023 10,000May 23,2023 496.82JointandseveralliabilityguaranteeNone NoneOneyearNo YesGuangzhou HopeFeed Co.,Ltd.May 23,2023 4,000May 23,2023 90.37JointandseveralliabilityguaranteeNone NoneOneyearNo YesGuangzhou LiuheFeed Co.,Ltd.May 23,2023 10,000May 23,2023 94.5JointandseveralliabilityguaranteeNone NoneOneyearNo YesZhanjiangGuoxiongFeed Co.,Ltd.May 23,2023 500May 23,2023 182.59JointandseveralliabilityguaranteeNone NoneOneyearNo YesWeifangLiuheFeed Co.,Ltd.LinquBranchMay 23,2023 3,000May 23,2023 7.75JointandseveralliabilityguaranteeNone NoneOneyearNo YesYishuiLiuheFeed Co.,Ltd.May 23,2023 3,000May 23,2023 0.86JointandseveralliabilityguaranteeNone NoneOneyearNo YesChangtuLiuheFarmingCo., Ltd.May 23,2023 500May 23,2023 4.98JointandseveralliabilityguaranteeNone NoneOneyearNo YesAnqiuLiuheFeed Co.,Ltd.May 23,2023 3,000May 23,2023 121.2JointandseveralliabilityguaranteeNone NoneOneyearNo YesShanCountyLiuheFeed Co.,May 23,2023 1,000May 23,2023 14.18JointandseveralliabilityNone NoneOneyearNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.215Ltd. guaranteeZhuchengNewHopeLiuheFeed Co.,Ltd.May 23,2023 1,000May 23,2023 22.82JointandseveralliabilityguaranteeNone NoneOneyearNo YesZaozhuang NewHopeLiuheFeed Co.,Ltd.May 23,2023 2,000May 23,2023 27.55JointandseveralliabilityguaranteeNone NoneOneyearNo YesTai’anLiuheJingweiFarmingCo., Ltd.FeedPlantMay 23,2023 600May 23,2023 22.65JointandseveralliabilityguaranteeNone NoneOneyearNo YesZhanjiangGuoxiongNo.1NativePig FeedCo., Ltd.May 23,2023 500May 23,2023 207.97JointandseveralliabilityguaranteeNone NoneOneyearNo YesNanningNewHopeFarmingTechnology Co.,Ltd.May 23,2023 4,000May 23,2023 346.13JointandseveralliabilityguaranteeNone NoneOneyearNo YesShenyangNewHopeFarmingTechnology Co.,Ltd.May 23,2023 500May 23,2023 47.78JointandseveralliabilityguaranteeNone NoneOneyearNo YesNayongNewHopeYuanshengAgriculture Co.,Ltd.May 23,2023 1,000May 23,2023 0.04JointandseveralliabilityguaranteeNone NoneOneyearNo YesTangshanMuzhengFeed Co.,Ltd.May 23,2023 200May 23,2023 2.39JointandseveralliabilityguaranteeNone NoneOneyearNo YesSichuanNewMay 23,2023 80,000May 23,2023 6,544.83JointandNone NoneOneyearNo YesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.216HopeAnimalNutritionTechnology Co.,Ltd.severalliabilityguaranteeHezeXinhaoFeed Co.,Ltd.May 23,2023 600May 23,2023 31.55JointandseveralliabilityguaranteeNone NoneOneyearNo YesWeiCountyNewHopeFeed Co.,Ltd.May 23,2023 500May 23,2023 4.28JointandseveralliabilityguaranteeNone NoneOneyearNo YesHuizhouLiuheFeed Co.,Ltd.May 23,2023 2,000May 23,2023 55.94JointandseveralliabilityguaranteeNone NoneOneyearNo YesJiangmenXinhuiDistrictLiuheBiotechnology Co.,Ltd.May 23,2023 2,000May 23,2023 49.94JointandseveralliabilityguaranteeNone NoneOneyearNo YesHainanNewHopeLiuheSupplyChainTechnology Co.,Ltd.May 23,2023 60,000May 23,2023 1,471.03JointandseveralliabilityguaranteeNone NoneOneyearNo YesTotal amount ofguarantee provided forsubsidiaries approvedduring the reportingperiod (B1)289,249.44Total amount ofguarantee actuallyincurred for subsidiariesduring the reportingperiod (B2)271,333.77Total amount ofguarantee provided forsubsidiaries approved atthe end of the reportingperiod (B3)5,014,002.5Total balance of actualguarantee forsubsidiaries at the endof reporting period (B4)2,206,958.04Guarantees provided by subsidiaries for subsidiariesName ofguaranteebeneficiaryDate ofdisclosureof relatedannouncement ofGuaranteedamountDateactuallyincurredAmountactuallyguaranteedType ofguaranteeCollaterals(if any)Counterguarantee (ifany)GuaranteeperiodWhetherfullyperformedWhetherrelated-partyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.217guaranteedamountguaranteeQingdaoNewHopeHerunBio-technology Co.,Ltd.May 29,2021 5,000Apr.22,2022 373.83JointandseveralliabilityguaranteeNone None1825daysNo YesQingdaoTianrunFood Co.,Ltd.Jun.1,202250,000Feb.28,2023 7,310JointandseveralliabilityguaranteeNone None547daysNo YesTotal amount ofguarantee provided forsubsidiaries approvedduring the reportingperiod (C1)Total amount ofguarantee actuallyincurred for subsidiariesduring the reportingperiod (C2)7,310Total amount ofguarantee provided forsubsidiaries approved atthe end of the reportingperiod (C3)55,000Total balance of actualguarantee forsubsidiaries at the endof reporting period (C4)7,683.83Total amount of guarantee provided by the company (i.e. the aggregate of the above three)Total amount ofguarantee approvedduring the reportingperiod (A1+B1+C1)313,249.44Total amount ofguarantee actuallyincurred during thereporting period(A2+B2+C2)318,576.43Total amount ofguarantee approved at theend of the reportingperiod (A3+B3+C3)5,217,552.5Total balance of actualguarantee at the end ofthe reporting period(A4+B4+C4)2,300,391.67Proportion of total amount of actual guarantee (i.e.A4+B4+C4) in the company’s net assets90.95%Wherein:Balance of guarantee provided to shareholders,actual controller and their affiliates (D)66,590.43Balance of debt guarantee provided directly orindirectly for the guaranteed subjects each withasset-liability ratio of over 70% (E)1,497,908.79Amount of total guarantee in excess of 50% of netassets (F)735,892.45Total amount of the above three guarantees (D+E+F) 2,300,391.67Remarks on any liability to guarantee occurred orpossible joint and several liability for repayment withsufficient evidence during the reporting period inrespect of any unexpired guarantee contract (if any)NoneRemarks on any external guarantee provided inviolation of prescribed procedures (if any)NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.218Remarks on details of guarantees provided in the composite form3. Entrusted wealth management□applicablenot applicableThe company had no entrusted wealth management during the reporting period.4. Other significant contracts□applicablenot applicableThe company had no other significant contracts during the reporting period.XIII: Remarks on other significant mattersapplicable □not applicable1. At the 4th meeting of the 9th board of directors, the 3rd meeting of the 9th board of supervisors and the secondextraordinary general meeting in 2022, the company deliberated and approved the Proposal on Failure in Meeting the LiftingConditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase andCancellation of Restricted Stocks, agreeing to repurchase and cancel a total of 438,750 restricted stocks held by 15 incentivebeneficiaries under the Incentive Plan 2019.At the 4th meeting of the 9th board of directors and the 3rd meeting of the 9th board of supervisors, the company deliberatedand approved the Proposal on Cancellation of Stock Options under the Restricted Stock and Stock Option Incentive Plan 2019,agreeing to cancel a total of 2,047,500 stock options not exercised by 15 incentive beneficiaries under the Incentive Plan 2019within the second exercise period.The company handled and completed the repurchase and cancellation formalities for these restricted stocks and cancellationfor the stock options with CSDCShenzhen on February 1,2023.2. At the 10th meeting of the 9th board of directors and the 7th meeting of the 9th board of supervisors, the companydeliberated and approved the Proposal on Requesting the General Meeting of Shareholders to Extend the Validity Period of theResolution of the General Meeting of Shareholders on the Non-public Offering of Shares, and the board of directors requested thegeneral meeting of shareholders to extend the validity period of the resolution of the general meeting of shareholders on the non-public offering of shares for 12 months from the original expiration date. In addition to the extension of the above validity period,the other contents of the company’s non-public share offering plan remain unchanged. This matter has been deliberated andapproved at the company’s annual general meeting of 2022.3. To increase the work efficiency and enhance strategic cooperation with major raw materials suppliers, according to theactual needs of the procurement business, the company decided to guarantee the payment for raw materials of up to 6,664.25million yuan for the raw materials purchase and sale contracts signed between 163 subordinate companies and 85 feed ingredientsuppliers including COFCOTrade Co., Ltd within the period of authorization, representing 22.79% of the company’s mostrecently audited (FY2022) net assets attributable to shareholders of the listed company of 29,243.7647 million yuan. This matterhas been deliberated and approved at the company’s annual general meeting of 2022.4. To increase the work efficiency and carry out financing work in a planned way, according to the actual situation ofproduction and operation, the company estimated that the total amount of financing guarantees provided by the company and itsmajority-owned subsidiaries for subordinate companies in 2023 would be 71.5 billion yuan, representing 224.50% of thecompany’s most recently audited (FY2022) net assets attributable to shareholders of the listed company of 29,243.7647 millionyuan, including a total financing guarantee of 66.55 billion yuan for the company’s majority-owned subsidiaries (including up to 5Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.219billion yuan reserved for the company’s majority-owned subsidiaries), a total financing guarantee of 4.45 billion yuan for farms(farmers) or dealers, and 500 million yuan of guarantee provided for Chengdu Dekang Animal Health Technology Service Co.,Ltd. This matter has been deliberated and approved at the company’s annual general meeting of 2022.5. New Hope Dairy Co., Ltd. is an enterprise controlled by Liu Chang, chairman of the company; Caogen Zhiben Group Co.,Ltd., Sichuan New Hope Real Estate Development Co., Ltd. and its majority-owned subsidiaries, Xingyuan EnvironmentalTechnology Co., Ltd., are enterprises controlled by the same actual controller as the company. According to Shenzhen StockExchange Listing Rules, the purchase and sale of products between the company and the above affiliates and their subordinatecompanies constitute related party transaction. In 2023, the company would purchase meat products, breeding equipment, feed rawmaterials and other products from its affiliates and their subordinate companies for no more than 5,749 million yuan, and that in2022 was 3,296.7231 million yuan; receive services worth no more than 824 million yuan from its affiliates and their subordinatecompanies, and that in 2022 was 455.3594 million yuan; rent assets for no more than 4.1 million yuan from its affiliates, and thatin 2022 was 5.1441 million yuan; and sell feeds, meat products and parts for no more than 1,197.9 million yuan to its affiliates andtheir subordinate companies, and that in 2022 was 383.5779 million yuan. This matter has been deliberated and approved at thecompany’s annual general meeting of 2022.6. To make full use of the value of existing assets, integrate and utilize the advantageous industrial resources in the region,further optimize the production capacity layout of the company in the advantageous regions of pig breeding, enhance thecompetitiveness of the company’s main business and sustainable development ability, and help the implementation of localindustrial prosperity and rural revitalization strategy, Beijing New Hope Liuhe Biotechnology Industry Group Co., Ltd. (amajority-owned subsidiary of the company) and its majority-owned subsidiaries decided to sign the Equity Transfer Agreementwith Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. to sell the 7 pig farm project companies held by it and itsmajority-owned subsidiaries in Sichuan and Chongqing to Xingxinxin. This transaction involves an amount of 1,317.1081 millionyuan, representing 3.93% of the company’s most recently audited net assets. It includes the equity transfer price of 111.3861million yuan and the debt transfer price of 1,205.7220 million yuan. Xingxinxin is a related legal person of the company, and thetransaction between it and the company constitutes a related party transaction. This matter has been deliberated and approved atthe company’s annual general meeting of 2022.7. At the 12th meeting of the 9th board of directors, the 9th meeting of the 9th board of supervisors and the annual generalmeeting of 2022 of the company, the Proposal on Failure in Meeting the Lifting Conditions in the Fourth Lifting Period under theRestricted Stock and Stock Option Incentive Plan 2019 and Repurchase and Cancellation of Restricted Stocks was deliberated andapproved. Given that the net profit of the company in 2022 was negative, not meeting the performance assessment requirementsset in the fourth lifting period under the Incentive Plan 2019, the company decided to repurchase and cancel a total of 438,750restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 that have not been released for sale inaccordance with the relevant provisions of the Measures for the Management of Equity Incentives of Listed Companies, ShenzhenStock Exchange Listed Companies Self-Regulatory Guide No.1 - Business Handling Part III: 3.2 Equity Incentives, RestrictedStock and Stock Option Incentive Plan 2019 (Draft) and the Assessment Management Measures of Restricted Stock and StockOption Incentive Plan 2019. The company handled and completed the repurchase and cancellation formalities for these restrictedstocks with CSDCShenzhen on August 3,2023.8. At the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors, the Proposal onGranting Reserved Restricted Stock to Incentive Beneficiaries was deliberated and approved. In accordance with the relevantprovisions of the Measures for the Management of Equity Incentives of Listed Companies and the Restricted Stock Incentive Plan2022 and the authorization of the company’s annual general meeting of 2021, the board of directors of the company held that thereserved grant conditions stipulated in the Restricted Stock Incentive Plan 2022 had been fulfilled, agreed on the reserved grantdate of this Incentive Plan as May 30,2023, and agreed to reserve 8.095 million restricted shares for 377 incentive beneficiariesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.220meeting the grant conditions at a reserve grant price of 7.98 yuan/share. The company handled and completed the registration ofthe reserved grant of this Restricted Stock Incentive Plan at CSDCShenzhen on July 24,2023 and the listing date of the restrictedstock is July 25,2023.XIV. Significant matters of the company’s subsidiaries□applicablenot applicableSection 7 Changes in Shares and Information about ShareholdersI. Changes in shares1. Changes in sharesUnit: shareBefore Increase or decrease due to this change (+, -) AfterAmountProportionNewsharesissuedBonussharesProvidentfundconvertedintosharesOthers Subtotal Amount ProportionI. Restrictedshares36,547,0790.81% - 438,750 -438,75036,108,3290.80%1. Sharesheld by thestate2. Sharesheld by state-owned legalpersons3. Sharesheld by otherdomestic-fundedentities33,940,4900.75% - 438,750 -438,75033,501,7400.74%Wherein: shares heldby domesticlegal personsSharesheld bydomesticnaturalpersons33,940,4900.75% - 438,750 -438,75033,501,7400.74%4. Sharesheld byforeign2,606,5890.06% 2,606,5890.06%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.221capitalWherein: shares heldby overseaslegal personsSharesheld byoverseasnaturalpersons2,606,5890.06% 2,606,5890.06%II.Unrestrictedshares4,502,211,01699.19% 1,8131,8134,502,212,82999.20%1. RMBordinaryshares4,502,211,01699.19% 1,8131,8134,502,212,82999.20%2. Foreignshares listedat home3. Foreignshares listedabroad4. OthersIII. Totalshares4,538,758,095 100.00 % - 436,937 -436,9374,538,321,158100.00%Reasons for changes in sharesapplicable □not applicable(1) On February 1,2023, the company repurchased and canceled the 438,750 restricted shares not been released for sale in thethird lifting period under the Incentive Plan 2019.(2) Other increase was caused by the conversion of “Hope Convertible Bond 2”. During the reporting period, “Hope ConvertibleBond 2” cumulatively converted 1,813 shares.Approval of changes in sharesapplicable □not applicable(1) The company’s repurchase and cancellation of the restricted shares under Incentive Plan 2019 and cancellation of stockoptions were deliberated and approved at the 4th meeting of the 9th board of directors, the 9th meeting of the 9th board ofsupervisors, and the second extraordinary general meeting in 2022 held on November 15,2022.(2) Other changes in shares were in accordance with laws, regulations and normative documents such as Shenzhen StockExchange Listing Rules and theSelf-regulatory Guideline No.1 of Shenzhen Stock Exchange for Listed Companies - StandardizedOperation of Main Board Listed Companies, as well as relevant requirements of the Management Rules for the Shares of theCompany Held by Directors, Supervisors or Senior Executives of Listed Companies and Their Changes. transfer of changes in sharesapplicable □not applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.222On February 1,2023, the company finished the repurchase and cancellation of the restricted shares under Incentive Plan 2019and cancellation of stock options with CSDCShenzhen Branch, repurchasing and canceling a total of 438,750 restricted shares,and canceling a total of 2,047,500 stock options.Progress of share repurchase□applicablenot applicableProgress of reducing share repurchased by centralized bidding□applicablenot applicableThe impact of changes in shares on financial indicators such as basic earnings per share and diluted earnings per share, net assetsper share attributable to ordinary shareholders of the company in the most recent year and the most recent period□applicablenot applicableOther information deemed necessary by the company or required to be disclosed by securities regulators□applicablenot applicable2. Changes in restricted sharesapplicable □not applicableUnit: shareName ofshareholderBeginningnumber ofrestrictedsharesRestrictedsharesreleased forsale in thecurrent periodRestrictedsharesincreased inthe currentperiodEnding numberof restrictedsharesReasons forrestriction onsalesDate of releaseLiu Chang 1,616,589001,616,589Locked shares ofsenior executivesReleased ininstallmentsaccording to SZSErules andincumbency ofsenior executivesLiuYonghao669,24000669,240Locked shares ofsenior executivesReleased ininstallmentsaccording to SZSErules andincumbency ofsenior executivesWang Hang 45,0000045,000Locked shares ofsenior executivesReleased ininstallmentsaccording to SZSErules andincumbency ofsenior executivesCai Manli 7,500007,500Locked shares ofsenior executivesReleased ininstallmentsaccording to SZSErules andincumbency ofsenior executivesZhangMinggui2,000,000002,000,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.223completionChenXingyao1,200,000001,200,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionTao Yuling 1,368,75056,25001,312,500Locked shares ofsenior executives,restricted sharesof equityincentivesReleased ininstallmentsaccording to SZSErules andincumbency ofsenior executivesLan Jia 1,000,000001,000,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionWangPusong900,00000900,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionHuang Kun 900,00000900,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionLi Shuang 900,00000900,000Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionOtherequityincentivebeneficiaries25,940,000382,500025,557,500Restricted sharesof equityincentivesReleased ininstallmentsaccording to thecompany’sperformance targetcompletionTotal 36,547,079438,750036,108,329 -- --II. Issuance and listing of securities□applicablenot applicableIII. Number of shareholders of the company and their shareholdingsUnit: shareTotal number of ordinaryshareholders at the end ofthe reporting period219,322Total number of preferred shareholders with resumedvoting power at the end of the reporting period (if any)(see Note 8)0Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.224Shareholders each holding over 5% shares or shareholdings of the top 10 shareholdersName ofshareholderNature ofshareholderShareholdingratioNumber of ordinaryshares held at theend of the reportingperiodIncrease ordecreasewithin thereportingperiodNumberofrestrictedordinarysharesheldNumber ofunrestrictedordinary shares heldPledge,marking orfreezingSharestatusAmountSouth HopeIndustrialCo., Ltd.Domesticnon-state-ownedlegalperson29.28% 1,328,957,185.00001,328,957,185.00New Hope -TopsperitySecurities -23Hope E1Guaranteeand TrustPropertySpecialAccountDomesticnon-state-ownedlegalperson17.29% 784,455,413.00784,455,4130784,455,413.00New HopeGroup Co.,Ltd.Domesticnon-state-ownedlegalperson7.61% 345,424,279.00 -784,455,4130345,424,279.00ChinaSecuritiesFinanceCorporationLtd.Domesticnon-state-ownedlegalperson2.77% 125,602,591.0000125,602,591.00Tibet StrongInvestmentConsultingCo., Ltd.Domesticnon-state-ownedlegalperson2.31% 104,769,426.0000104,769,426.00TibetShanchengInvestmentConsultingCo., Ltd.Domesticnon-state-ownedlegalperson2.06% 93,704,034.000093,704,034.00Hong KongSecuritiesClearing Co.,Ltd.Overseaslegalperson1.64% 74,401,024.00 -10,215,503074,401,024.00LhasaDevelopmentAreaHezhiwangIndustrialCo., Ltd.Domesticnon-state-ownedlegalperson1.19% 53,893,592.000053,893,592.00New HopeLiuhe Co.,Others 0.90% 40,933,250.000040,933,250.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.225Ltd. -EmployeeStockOwnershipPlan 2022ZheshangBank Co.,Ltd. - CathayChinaSecuritiesAnimalHusbandryTradingOpen-endedIndexSecuritiesInvestmentFundOthers 0.88% 39,924,830.0018,313,157039,924,830.00Remarks on related-partyrelationships among theaforesaid shareholders oractions in concertNew Hope Group is the controlling shareholder of South Hope, and both parties are persons actingin concert with each other. Apart from that, the company is not aware of whether its top tenshareholders have other related-party relationships or actions in concert.Remarks onentrusted/fiduciary votingrights and waiver of votingrights involving theaforesaid shareholdersNew Hope Group, the controlling shareholder of the company, has appointed “TopsperitySecurities Co., Ltd.” as the trustee of the “New Hope - Topsperity Securities -23 Hope E1Guarantee and Trust Property Special Account” to exercise the voting rights on behalf of NewHope Group during the duration of the exchangeable corporate bonds.Shareholdings of top 10 unrestricted shareholders.Name of shareholderNumber of unrestricted sharesheld at the end of thereporting periodShare categoryShare category AmountSouth Hope Industrial Co., Ltd.1,328,957,185.00 RMB ordinary shares 1,328,957,185.00New Hope - Topsperity Securities -23Hope E1 Guarantee and Trust PropertySpecial Account784,455,413.00 RMB ordinary shares 784,455,413.00New Hope Group Co., Ltd.345,424,279.00 RMB ordinary shares 345,424,279.00China Securities Finance CorporationLtd.125,602,591.00 RMB ordinary shares 125,602,591.00Tibet Strong Investment Consulting Co.,Ltd.104,769,426.00 RMB ordinary shares 104,769,426.00Tibet Shancheng Investment ConsultingCo., Ltd.93,704,034.00 RMB ordinary shares 93,704,034.00Hong Kong Securities Clearing Co., Ltd.74,401,024.00 RMB ordinary shares 74,401,024.00Lhasa Development Area HezhiwangIndustrial Co., Ltd.53,893,592.00 RMB ordinary shares 53,893,592.00New Hope Liuhe Co., Ltd. - EmployeeStock Ownership Plan 202240,933,250.00 RMB ordinary shares 40,933,250.00Zheshang Bank Co., Ltd. - Cathay ChinaSecurities Animal Husbandry TradingOpen-ended Index Securities InvestmentFund39,924,830.00 RMB ordinary shares 39,924,830.00Remarks on related-party relationships oractions in concert among the top 10unrestricted ordinary shareholders andbetween the top 10 unrestricted ordinaryshareholders and the top 10 ordinaryNew Hope Group is the controlling shareholder of South Hope, and both parties arepersons acting in concert with each other. Apart from that, the company is not awareof whether its top ten shareholders have other related-party relationships or actions inconcert.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.226Whether the top 10 ordinary shareholders and top 10 unrestricted ordinary shareholders of the company conducted agreedrepurchase transactions within the reporting period□yesnoThe top 10 ordinary shareholders and top 10 unrestricted ordinary shareholders of the company did not conduct any agreedrepurchase transactions within the reporting period。

IV. Changes in shareholdings of directors, supervisors and senior executivesapplicable □not applicableName PositionStatusofincumbencyBeginningshareholding (shares)Currentincrease inshareholding(shares)Currentdecreaseinshareholding(shares)Endingshareholding(shares)Restrictedstocksgranted atthebeginningof theperiod(shares)Restrictedstocksgrantedwithin thereportingperiod(shares)Restrictedstocksgranted atthe end ofthe period(shares)TaoYulingVicepresidentIncumbent1,425,000056,2501,368,750000Total -- -- 1,425,000056,2501,368,750000V. Changes of controlling shareholder or actual controllerChange in the controlling shareholder during the reporting period□applicablenot applicableThe controlling shareholder of the company did not change during the reporting period.Change of the actual controller during the reporting period□applicablenot applicableThe actual controller of the company did not change during the reporting period.shareholdersFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.227Section 8 Details Related to Preferred Shares□applicablenot applicableThe company had no preferred shares during the reporting period.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.228Section 9 Details Related to Bondsapplicable □not applicableI. Enterprise bonds□applicablenot applicableThe company had no enterprise bonds during the reporting period.II. Corporate bonds□applicablenot applicableThe company had no corporate bonds during the reporting period.III. Debt financing instruments of non-financial enterprisesapplicable □not applicable1. Basic information about debt financing instruments of non-financial enterprisesUnit: 10,000 yuanBond nameBondabbreviationBond code Date issued Value date Due dateBondbalanceInterestrateMethod ofprincipalrepaymentandinterestpaymentTradingplaceThe firstphase of2021medium-term note(ruralrevitalization) of NewHope LiuheCo., Ltd.21 HopeLiuhe(ruralrevitalization)MTN001 102100490Mar.17,2021Mar.19,2021Mar.19,2024 200,000 4.9 %Interestpaidannually,andprincipalrepaid inlump sumuponmaturityInterbankbondmarketBonds that are overdue□applicablenot applicable2. Trigger and enforcement of issuer or investor option clauses and investor protection clauses□applicablenot applicable3. Adjustment to credit rating results during the reporting period□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.2294. Performance and changes of guarantee, debt repayment plan and other debt repayment protectionmeasures during the reporting period and the impact on the rights and interests of bond investors□applicablenot applicableIV. Convertible corporate bondsapplicable □not applicable1. Previous adjustment and correction of share conversion priceThe initial conversion price of convertible corporate bonds issued by the company (bond abbreviation: Hope ConvertibleBonds, bond code: 127015) was 19.78 yuan/share, which was adjusted from 19.78 yuan/share to 19.63 yuan/share on June 19,2020 due to execution of the Equity Distribution Plan 2019 by the company.As the company privately issued RMB ordinary shares to South Hope and New Hope Group, and the new shares were listedfor trading on Shenzhen Stock Exchange on October 29,2020, the conversion price of “Hope Convertible Bonds” was adjustedfrom 19.63 yuan/share to 19.75 yuan/share on October 29,2020.As the company granted restricted shares to 199 incentive beneficiaries following the Restricted Stock Incentive Plan 2022,and the new shares were listed for trading on Shenzhen Stock Exchange on September 15,2022, the conversion price of “HopeConvertible Bonds” was adjusted from 19.75 yuan/share to 19.66 yuan/share on September 15,2022.The initial conversion price of convertible corporate bonds issued by the company (bond abbreviation: Hope ConvertibleBond 2, bond code: 127049) was 14.45 yuan/share, which was adjusted from 14.45 yuan/share to 14.40 yuan/share on September15,2022 since the company granted restricted shares to 199 incentive beneficiaries following the Restricted Stock Incentive Plan2022 and the new shares were listed for trading on Shenzhen Stock Exchange on September 15,2022.As the company granted restricted shares to 370 incentive beneficiaries following the Restricted Stock Incentive Plan 2022,and the new shares were listed for trading on Shenzhen Stock Exchange on July 25,2023, the conversion price of “HopeConvertible Bonds” was adjusted from 19.66 yuan/share to 19.64 yuan/share on July 25,2023, and the conversion price of “HopeConvertible Bond 2” was adjusted from 14.40 yuan/share to 14.36 yuan/share on July 25,2023.2. Accumulated conversion into sharesapplicable □not applicableAbbreviation ofconvertiblebondsStart andend dateofconversion intosharesTotal issuedquantity(pieces)Total issueamountAccumulated amountofconversion(yuan)Accumulatednumberofsharesconverted(shares)Ratio ofnumber ofsharesconverted tototal amountof issuedshares of thecompanyprior to startdate ofconversionAmount ofoutstandingconversion(yuan)Ratio ofamountofoutstandingconversion tototalissueamountHopeConvertibleBondsJul.9,2020-Jan.2,2026 40,000,000 4,000,000,000.00 3,050,519,4 00.00 155,132,0143.68% 949,480,600.0023.74%HopeConvertMay 9,2022-Nov.81,500,000 8,150,000,000.00 6,392,900.0 0 442,3160.01% 8,143,607,100.0 0 99.92%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.230ibleBond 2 1,20273. Details of top 10 convertible bond holdersS/NName of convertiblecorporate bond holderNature ofconvertiblecorporate bondholderNumber ofconvertiblecorporate bondsheld at the end ofreporting period(pieces)Amount ofconvertible corporatebonds held at the endof reporting period(yuan)Percentage ofconvertiblecorporate bondsheld at the endof reportingperiod1MERRILLLYNCHINTERNATIONALOverseas legalperson599,99159,999,100.006.32% 2Fullgoal Fuyi AggressiveFixed-income PensionProduct - Industrial andCommercial Bank of ChinaCo., Ltd.Others 394,30239,430,200.004.15% 3China Construction Bank Co.,Ltd. - China-Europe NewBlue Chip FlexibleConfiguration HybridSecurities Investment FundOthers 316,71431,671,400.003.34% 4China Life Pension SteadyNo.5 Fixed Income PensionProduct - Industrial andCommercial Bank of ChinaCo., Ltd.Others 286,99528,699,500.003.02% 5Northwest InvestmentManagement (HK) Co., Ltd. -Northwest Feilong Fund Co.,Ltd.Overseas legalperson239,99623,999,600.002.53% 6HZBank Wealth ManagementCo., Ltd. - HZBank WealthManagement Happiness 99Tianyi 1-year CyclicalFinancial Plan Phase 2201Others 228,45022,845,000.002.41% 7BNPParibas - self-ownedfundOverseas legalperson220,00022,000,000.002.32% 8Industrial Bank Co., Ltd. -Tianhong Multiple BenefitsBond Securities InvestmentFundOthers 219,31021,931,000.002.31% 9Kunlun Health Insurance Co.,Ltd. - traditional insuranceproduct 1Others 200,00020,000,000.002.11% 10China Minsheng Bank Co.,Ltd. - ICBCCredit SuisseTianyi Bond SecuritiesInvestment FundOthers 175,24017,524,000.001.85%4. List of top 10 convertible bond holders of Hope Convertible Bond 2Unit: shareFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.231S/NName of convertible corporate bondholderNature ofconvertiblecorporate bondholderNumber ofconvertiblecorporate bondsheld at the end ofreporting period(pieces)Amount of convertiblecorporate bonds heldat the end of reportingperiod (yuan)Percentage ofconvertiblecorporate bondsheld at the end ofreporting period1China Minsheng Bank Co., Ltd. -Everbright Pramerica Credit TianyiBond Securities Investment FundOthers 4,833,482483,348,2005.94%2 South Hope Industrial Co., Ltd.Domestic non-state-owned legalperson2,619,796261,979,6003.22% 3Bank of China Co., Ltd. - Efund IncomeSecured Bond Securities InvestmentFundOthers 2,504,957250,495,7003.08%4 New Hope Group Co., Ltd.Domestic non-state-owned legalperson1,968,506196,850,6002.42%5 Industrial Bank Co., Ltd. - TianhongYongli Bond Securities Investment Fund Others 1,763,061176,306,1002.16% 6China Construction Bank - CathayShuangli Bond Securities InvestmentFundOthers 1,647,036164,703,6002.02% 7Bank of Communications Co., Ltd. -Efund Return Secured Bond SecuritiesInvestment FundOthers 1,628,365162,836,5002.00% 8China Construction Bank Co., Ltd. -Everbright Pramerica IncrementalIncome Bond Securities InvestmentFundOthers 1,517,620151,762,0001.86% 9Industrial Bank Co., Ltd. - TianhongMultiple Benefits Bond SecuritiesInvestment FundOthers 1,482,995148,299,5001.82% 10Industrial and Commercial Bank ofChina Co., Ltd. - Tianhong Tianli BondSecurities Investment Fund (LOF)Others 1,417,171141,717,1001.74%5. Significant changes in profitability, asset condition and credit standing of guarantors□applicablenot applicable6. Liabilities of the company at the end of the reporting period, changes in credit standing and casharrangement for repaying debts in the coming year□applicablenot applicableV. Losses within the scope of consolidated statements exceeding 10% of the net assets as atthe end of the previous year during the reporting period□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.232VI. Key accounting data and financial indicators of the company in the past two years as ofthe end of the reporting periodUnit: 10,000 yuanItem End of this reporting period End of the previous yearIncrease or decrease at end ofthis reporting period from theend of the previous yearLiquidity ratio 0.57680.7143 -19.25%Asset-liability ratio 71.79% 68.02% 3.77%Quick ratio 0.28360.3546 -20.02%This reporting periodThe same period of theprevious yearIncrease or decrease in thisreporting period from thesame period of the previousyearProfits net of non-recurringprofit or loss-299,190.76 -367,994.5518.70%EBITDA total debt ratio 0.19% -2.33% 2.52%Interest coverage ratio -1.57 -3.4454.36%Cash interest coverage ratio 1.67 -0.78314.10%EBITDA interest coverageratio0.09 -1.21107.44%Loan repayment rate 100.00% 100.00%Interest coverage 100.00% 100.00%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.233Section 10 Financial ReportI. Auditor’s ReportWhether the semiannual report has been audited□yesnoThe company’s semiannual financial report was not audited.II. Financial statementsThe monetary unit in notes to financial statements is yuan.1. Consolidated balance sheetPrepared by: New Hope Liuhe Co., Ltd.Jun.30,2023Unit: yuanItem Jun.30,2023 Jan.1,2023Current Assets:Monetary capital 11,150,787,210.1911,512,430,182.35Settlement reserveLoans to other banksHeld-for-trading financial assets 77,510,307.04148,914,177.97Derivative financial assetsNotes receivable 338,242,870.1078,757,410.00Accounts receivable 1,937,293,872.451,285,865,849.45Receivables financingPrepayments 1,671,096,987.202,860,496,077.56Insurance premiums receivableReinsurance accounts receivableProvision for cession receivableOther receivables 706,321,886.511,450,053,026.91Wherein: interest receivableDividends receivable 6,000,000.006,000,000.00Financial assets purchased for resaleInventories 16,789,490,600.6517,901,083,522.59Contract assetsHeld-for-sale assetsNon-current assets due in 1 yearOther current assets 355,436,014.78311,691,270.13Total Current Assets 33,026,179,748.9235,549,291,516.96Non-current Assets:Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.234Loans and advances madeCreditor’s rights investmentsOther creditor’s rights investmentLong-term receivablesLong-term equity investments 26,512,423,398.2626,256,101,521.11Investments in other equityinstruments315,248,826.38315,248,826.38Other non-current financial assetsInvestment properties 168,615,996.59173,146,710.26Fixed assets 36,694,212,664.2235,683,327,341.71Construction in progress 20,275,114,273.5920,157,929,735.51Productive biological assets 6,991,181,620.467,576,647,898.07Oil and gas assetsRight-of-use assets 5,693,421,082.556,095,819,071.51Intangible assets 1,914,253,585.931,864,075,069.22Development expenditure 24,472,094.7117,782,988.08Goodwill 1,209,971,223.091,209,971,223.09Long-term deferred expenses 129,213,043.76186,606,065.50Deferred income tax assets 591,190,607.49579,905,588.43Other non-current assets 1,585,301,768.921,012,935,419.10Total Non-current Assets 102,104,620,185.95101,129,497,457.97Total Assets 135,130,799,934.87136,678,788,974.93Current Liabilities:Short-term borrowings 17,997,266,231.0413,359,392,691.44Borrowings from center bankLoans from other banksHeld-for-trading financial liabilities 18,749,771.396,103,030.77Derivative financial liabilitiesNotes payable 4,532,396,707.282,732,895,395.82Accounts payable 10,310,425,622.2511,564,714,386.86Advance receiptsContract liabilities 2,249,428,800.692,173,108,069.79Financial assets sold for repurchaseDeposits taken and interbank depositsProceeds from vicariously tradedsecuritiesProceeds from vicariouslyunderwritten securitiesPayroll payable 1,147,000,752.971,045,666,091.37Taxes and dues payable 365,665,805.62402,664,374.00Other payables 4,702,964,409.914,764,414,565.79Wherein: interest payableDividends payable 54,676,437.5250,538,246.74Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.235Handling fee and commission payableCession insurance premiums payableHeld-for-sale liabilitiesNon-current liabilities due in 1 year 15,852,231,994.7513,659,393,321.40Other current liabilities 84,528,612.8859,634,114.69Total Current Liabilities 57,260,658,708.7849,767,986,041.93Non-current Liabilities:Provision for insurance contracts 219,194,072.91179,733,263.89Long-term borrowings 25,939,596,845.5427,527,873,389.95Bonds payable 8,294,744,826.7110,095,505,490.77Incl.: preferred sharesPerpetual bondsLease liabilities 4,446,693,733.144,719,055,556.37Long-term payables 336,318,277.30165,515,620.11Long-term payroll payableEstimated liabilitiesDeferred income 445,014,825.05433,295,564.49Deferred income tax liabilities 73,443,011.2374,636,369.06Other non-current liabilitiesTotal Non-current Liabilities 39,755,005,591.8843,195,615,254.64Total liabilities 97,015,664,300.6692,963,601,296.57Owner’s Equity:Share capital 4,538,321,158.004,538,758,095.00Other equity instruments 3,219,901,928.243,189,909,115.83Incl.: preferred sharesPerpetual bonds 1,230,000,000.001,200,000,000.00Capital reserve 9,403,630,915.2210,535,939,704.17Minus: treasury stock 1,071,692,796.471,079,190,858.47Other comprehensive income -702,275,772.44 -864,757,065.97Appropriative reserveSurplus reserve 3,450,358,461.873,450,852,957.31General risk reserveUndistributed profits 6,453,981,933.329,472,252,710.50Total owner’s equity attributable to theparent company25,292,225,827.7429,243,764,658.37Minority interests 12,822,909,806.4714,471,423,019.99Total Owner’s Equity 38,115,135,634.2143,715,187,678.36Total Liabilities and Owner’s Equity 135,130,799,934.87136,678,788,974.93Legal representative: Liu Chang Chief accountant: Chen Xingyao Person in charge of accounting organization: Su Xiaodan2. Balance sheet of the parent companyUnit: yuanItem Jun.30,2023 Jan.1,2023Current Assets:Monetary capital 5,582,640,731.407,568,592,612.44Held-for-trading financial assetsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.236Derivative financial assetsNotes receivable 10,299,666.54Accounts receivable 58,212.301,213,169.85Receivables financingPrepayments 13,041,382.7013,802,350.16Other receivables 79,876,697,044.7176,843,094,867.65Wherein: interest receivableDividends receivable 427,379,820.86458,939,437.50Inventories 19,536,462.1643,343,566.44Contract assetsHeld-for-sale assetsNon-current assets due in 1 yearOther current assets 126,332,967.91102,639,266.07Total Current Assets 85,628,606,467.7284,572,685,832.61Non-current Assets:Creditor’s rights investmentsOther creditor’s rights investmentLong-term receivablesLong-term equity investments 18,533,454,352.8117,072,490,302.03Investments in other equityinstruments211,196,000.00211,196,000.00Other non-current financial assetsInvestment propertiesFixed assets 20,467,494.9625,896,407.23Construction in progress 357,000.002,093,037.69Productive biological assetsOil and gas assetsRight-of-use assets 11,889,265.2219,869,089.19Intangible assets 2,969,848.914,375,850.73Development expenditure 1,042,031.22745,389.48GoodwillLong-term deferred expenses 1,268,351.322,161,794.26Deferred income tax assets 1,893,262.236,589,470.17Other non-current assets 520,518,089.5115,654,483.37Total Non-current Assets 19,305,055,696.1817,361,071,824.15Total Assets 104,933,662,163.90101,933,757,656.76Current Liabilities:Short-term borrowings 6,659,802,406.474,064,378,079.63Held-for-trading financial liabilitiesDerivative financial liabilitiesNotes payable 105,736,951.0888,269,220.70Accounts payable 21,556,948.0348,318,571.48Advance receiptsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.237Contract liabilities 21,225,041.9561,639,790.73Payroll payable 21,694,983.8522,179,161.72Taxes and dues payable 20,069,694.6518,058,763.35Other payables 49,670,537,678.3249,556,564,467.06Wherein: interest payableDividends payableHeld-for-sale liabilitiesNon-current liabilities due in 1 year 6,776,829,604.725,447,107,858.72Other current liabilitiesTotal Current Liabilities 63,297,453,309.0759,306,515,913.39Non-current Liabilities:Long-term borrowings 11,658,898,844.0510,592,118,242.38Bonds payable 8,294,744,826.7110,095,505,490.77Incl.: preferred sharesPerpetual bondsLease liabilities 1,065,088.214,609,148.49Long-term payablesLong-term payroll payableEstimated liabilitiesDeferred income 15,853,234.2713,697,757.68Deferred income tax liabilitiesOther non-current liabilitiesTotal Non-current Liabilities 19,970,561,993.2420,705,930,639.32Total liabilities 83,268,015,302.3180,012,446,552.71Owner’s Equity:Share capital 4,538,321,158.004,538,758,095.00Other equity instruments 3,219,901,928.243,189,909,115.83Incl.: preferred sharesPerpetual bonds 1,230,000,000.001,200,000,000.00Capital reserve 11,387,579,550.1611,263,661,726.93Minus: treasury stock 1,071,692,796.471,079,190,858.47Other comprehensive incomeAppropriative reserveSurplus reserve 1,147,599,491.621,147,599,491.62Undistributed profits 2,443,937,530.042,860,573,533.14Total Owner’s Equity 21,665,646,861.5921,921,311,104.05Total Liabilities and Owner’s Equity 104,933,662,163.90101,933,757,656.763. Consolidated income statementUnit: yuanItem Half year of 2023 Half year of 2022I. Total business revenue 69,452,880,446.1462,329,531,076.64Wherein: business revenue 69,452,880,446.1462,329,531,076.64Interest incomeEarned premiumsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.238Revenue from handling fee and commissionII. Total operating costs 72,944,406,595.5266,412,976,672.46Wherein: operating cost 68,196,429,382.4962,063,554,174.37Interest expenditureExpenditure on handling fee and commissionSurrender valueNet indemnities paidNet provision for insurance liabilities accrued 44,858,396.5119,205,541.64Policy dividend payoutReinsurance costsTaxes and surcharges 132,468,529.24109,653,394.49Selling expenses 927,000,996.81877,736,004.72General and administrative expenses 2,476,707,410.512,431,811,072.08R&D expenses 137,433,942.89150,034,607.92Financial expenses 1,029,507,937.07760,981,877.24Wherein: interest expense 1,015,887,924.02755,642,004.97Interest income 65,172,165.7791,683,189.02Plus: other income 132,408,506.45102,592,711.89Investment income (“-” for loss) 1,066,870,403.121,051,106,361.78Wherein: income on investment in affiliates and jointventures1,016,415,308.301,026,435,491.87Income from de-recognition of financial assetsmeasured at amortized costExchange gains (“-” for loss)Income on net exposure hedging (“-” for loss)Income from change in fair value (“-” for loss) -60,100,451.27 -1,254,312.12Credit impairment loss (“-” for loss) -31,980,578.96 -64,187,529.66Asset impairment loss (“-” for loss) -884,764,393.43 -1,328,087,107.41Income from asset disposal (“-” for loss) 98,943,162.118,121,268.04III. Operating profits (“-” for loss) -3,170,149,501.36 -4,315,154,203.30Plus: non-business revenue 62,923,600.4750,176,226.42Minus: non-business expenditure 323,748,335.88759,373,021.68IV. Total profits (“-” for total loss) -3,430,974,236.77 -5,024,350,998.56Minus: income tax expense 161,590,170.27140,757,923.12V. Net profits (“-” for net loss) -3,592,564,407.04 -5,165,108,921.68(I) Classified by business continuity1. Net profits from continuous operations (“-” for net loss) -3,592,564,407.04 -5,165,108,921.682. Net profits from discontinued operations (“-” for net loss)(II) Classified by ownership1. Net profits attributable to shareholders of the parent company(“-” for net loss)-2,982,653,024.87 -4,139,743,764.002. Minority shareholder’s profit or loss (“-” for net loss) -609,911,382.17 -1,025,365,157.68VI. Other comprehensive income net of tax 185,408,597.25 -152,595,487.50Other comprehensive income net of tax attributable to the owner ofthe parent company159,019,899.95 -141,415,160.34(I) Other comprehensive income that cannot be reclassified to 22,080,071.25 -1,252,770.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.239profit or loss1. Change in defined benefit plan re-measured2. Other comprehensive income that cannot be converted toprofit or loss under the equity method22,080,071.25 -1,252,770.003. Change in fair value of investments in other equityinstruments4. Change in fair value of credit risk to the company5. Other(II) Other comprehensive income to be reclassified into profit orloss136,939,828.70 -140,162,390.341. Other comprehensive income that can be converted to profitor loss under the equity method57,001,035.00 -33,532,550.922. Change in the fair value of other creditor’s rightsinvestments3. Amount of financial assets reclassified into othercomprehensive income4. Provisions for credit impairment of other creditor’s rightsinvestments5. Cash flow hedging reserve6. Translation difference of foreign currency financialstatements79,938,793.70 -106,629,839.427. OtherOther comprehensive income net of tax attributable to minorityshareholders26,388,697.30 -11,180,327.16VII. Total comprehensive income -3,407,155,809.79 -5,317,704,409.18Total comprehensive income attributable to the owner of the parentcompany-2,823,633,124.92 -4,281,158,924.34Total comprehensive income attributable to minority shareholders -583,522,684.87 -1,036,545,484.84VIII. Earnings per share:(I) Basic earnings per share -0.67 -0.93(II) Diluted earnings per share -0.67 -0.93In case of business combination under the common control during this period, the net profits reported by the combined partybefore consolidation was 0 yuan, and the net profits reported by the combined party in the previous period was: 0 yuan.Legal representative: Liu Chang Chief accountant: Chen Xingyao Person in charge of accounting organization: Su Xiaodan4. Income statement of the parent companyUnit: yuanItem Half year of 2023 Half year of 2022I. Operating revenue 337,761,261.85382,749,474.93Minus: operating cost 334,692,681.57352,875,726.01Taxes and surcharges 1,472,108.311,689,177.94Selling expenses 4,854,935.405,503,249.96General and administrative expenses 155,892,358.4181,111,652.36R&D expenses 16,181,457.317,184,446.87Financial expenses 442,630,415.45235,575,650.85Wherein: interest expense 783,209,768.00707,112,143.55Interest income 363,259,745.47500,501,290.30Plus: other income 16,096,284.103,834,799.37Investment income (“-” for loss) 173,857,032.62523,558,425.65Wherein: income on investment in affiliates and joint 36,886,574.675,185,004.86Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.240venturesIncome from de-recognition of financial assetsmeasured at amortized cost (“-” for loss)Income on net exposure hedging (“-” for loss)Income from change in fair value (“-” for loss)Credit impairment loss (“-” for loss) 10,191,395.87 -3,208,766.60Asset impairment loss (“-” for loss)Income from asset disposal (“-” for loss) 37,494,095.86727.78II. Operating profits (“-” for loss) -380,323,886.15222,994,757.14Plus: non-business revenue 1,442,523.611,343,502.68Minus: non-business expenditure 39,711.57115,903.74III. Total profits (“-” for total loss) -378,921,074.11224,222,356.08Minus: income tax expense 5,064,074.82 -773,979.74IV. Net profits (“-” for net loss) -383,985,148.93224,996,335.82(I) Net profits from continuous operations (“-” for net loss) -383,985,148.93224,996,335.82(II) Net profits from discontinued operations (“-” for net loss)V. Other comprehensive income net of tax 9,101.71(I) Other comprehensive income that cannot be reclassified toprofit or loss1. Change in defined benefit plan re-measured2. Other comprehensive income that cannot be converted toprofit or loss under the equity method3. Change in fair value of investments in other equityinstruments4. Change in fair value of credit risk to the company5. Other(II) Other comprehensive income to be reclassified into profit orloss9,101.711. Other comprehensive income that can be converted to profitor loss under the equity method9,101.712. Change in the fair value of other creditor’s rightsinvestments3. Amount of financial assets reclassified into othercomprehensive income4. Provisions for credit impairment of other creditor’s rightsinvestments5. Cash flow hedging reserve6. Translation difference of foreign currency financialstatements7. OtherVI. Total comprehensive income -383,985,148.93225,005,437.53VII. Earnings per share:(I) Basic earnings per share(II) Diluted earnings per share5. Consolidated cash flow statementUnit: yuanItem Half year of 2023 Half year of 2022I. Cash flows from operating activities:Cash received from sale of commodities and provisin of service 69,900,403,142.8063,319,404,447.54Net increase in customer’s deposits and interbank depositsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.241Net increase in borrowings from center bankNet increase in borrowings from other financial institutionsCash received from premium of original insurance contractNet amount of cash from reinsurance businessNet increase in policyholder’s deposits and investmentsCash received as interest, handling fee or commissionNet increase in borrowing fundsNet increase in funds for repurchaseNet amount of cash from vicariously traded securitiesTax rebates received 36,095,457.57100,145,743.17Other cash received in connection with operating activities 689,340,432.74610,052,611.47Subtotal of cash inflows from operating activities 70,625,839,033.1164,029,602,802.18Cash used to pay for goods or services 61,852,521,642.9557,644,988,338.96Net increase in customer’s loans and advancesNet increase in deposits with central bank and interbank depositsCash paid as premium of original insurance contractNet increase in lending fundsCash paid as interest, handling fee or commissionCash paid as policyholder’s dividendsCash paid to and for employees 4,596,628,318.944,353,947,931.46Taxes and fees paid 462,963,262.89427,804,711.40Other cash paid in connection with operating activities 1,731,671,160.192,736,388,974.82Subtotal of cash outflows from operating activities 68,643,784,384.9765,163,129,956.64Net cash flows from operating activities 1,982,054,648.14 -1,133,527,154.46II. Cash flows from investing activities:Cash received from recovery of investments 487,221,166.9623,139,619.03Cash received from investment income 468,915,029.79734,593,880.06Net cash recovered from disposal of fixed assets, intangible assetsand other long-term assets109,114,521.65125,555,069.31Net cash received from disposal of subsidiaries and other businessunits258,775,327.97Other cash received in connection with investing activities 271,931,955.40108,562,993.32Subtotal of cash inflows from investing activities 1,595,958,001.77991,851,561.72Cash paid for purchase and construction of fixed assets, intangibleassets and other long-term assets2,458,986,258.754,261,927,323.66Cash paid for investment 74,797,384.09831,069,480.47Net increase in pledge loanNet cash paid for acquisition of subsidiaries and other business units 6,072,582.0542,443,203.19Other cash disbursements related to investing activities 256,725,147.56122,582,506.09Subtotal of cash outflows from investing activities 2,796,581,372.455,258,022,513.41Net cash flows from investing activities -1,200,623,370.68 -4,266,170,951.69III. Cash flows from financing activitiesCash received from acquisition of investments 430,000,000.00711,100,000.00Wherein: cash received from acquisition of minority shareholderinvestments in subsidiaries200,000,000.00511,100,000.00Cash received from borrowings 26,251,300,472.8623,498,541,659.58Other cash received in connection with financing activities 383,724,947.5063,437,014.98Subtotal of cash inflows from financing activities 27,065,025,420.3624,273,078,674.56Cash paid for debt repayment 23,476,665,319.5917,330,261,422.26Cash paid for distribution of dividends and profits or payment ofinterest1,763,933,423.891,715,829,067.42Wherein: dividends and profits paid by subsidiaries to minority 405,147,858.17355,061,728.94Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.242shareholdersOther cash paid in connection with financing activities 3,189,618,010.683,378,838,383.77Subtotal of cash outflows from financing activities 28,430,216,754.1622,424,928,873.45Net cash flows from financing activities -1,365,191,333.801,848,149,801.11IV. Effect of exchange rate fluctuation on cash and cash equivalents -27,744,336.41 -48,923,563.06V. Net increase in cash and cash equivalents -611,504,392.75 -3,600,471,868.10Plus: beginning balance of cash and cash equivalents 9,714,019,174.2414,292,784,234.11VI. Ending balance of cash and cash equivalents 9,102,514,781.4910,692,312,366.016. Cash flow statement of the parent companyUnit: yuanItem Half year of 2023 Half year of 2022I. Cash flows from operating activities:Cash received from sale of commodities and provisin of service 328,933,182.66396,924,522.81Tax rebates receivedOther cash received in relation to operating activities 490,455,115.45353,138,040.26Subtotal of cash inflows from operating activities 819,388,298.11750,062,563.07Cash used to pay for goods or services 306,999,823.47413,691,514.31Cash paid to and for employees 70,297,951.7161,395,797.67Taxes and fees paid 4,355,712.657,002,021.11Other cash paid in connection with operating activities 255,218,221.52232,746,500.08Subtotal of cash outflows from operating activities 636,871,709.35714,835,833.17Net cash flows from operating activities 182,516,588.7635,226,729.90II. Cash flows from investing activities:Cash received from recovery of investmentsCash received from investment income 159,095,074.59697,714,258.99Net cash recovered from disposal of fixed assets, intangible assetsand other long-term assets4,751,664.1110,725.26Net cash received from disposal of subsidiaries and other businessunitsOther cash received in connection with investing activitiesSubtotal of cash inflows from investing activities 163,846,738.70697,724,984.25Cash paid for purchase and construction of fixed assets, intangibleassets and other long-term assets3,343,535.153,758,738.86Cash paid for investment 680,000,000.00Net cash paid for acquisition of subsidiaries and other business units 100,000,000.00Other cash disbursements related to investing activities 2,961,628,359.255,450,928,565.45Subtotal of cash outflows from investing activities 3,064,971,894.406,134,687,304.31Net cash flows from investing activities -2,901,125,155.70 -5,436,962,320.06III. Cash flows from financing activitiesCash received from acquisition of investments 230,000,000.00200,000,000.00Cash received from borrowings 13,302,302,913.528,381,409,968.23Other cash received in connection with financing activities 83,724,947.50Subtotal of cash inflows from financing activities 13,616,027,861.028,581,409,968.23Cash paid for debt repayment 10,231,895,993.645,885,728,299.39Cash paid for distribution of dividends and profits or payment ofinterest605,682,468.13381,696,121.16Other cash paid in connection with financing activities 2,036,057,542.211,343,795,708.57Subtotal of cash outflows from financing activities 12,873,636,003.987,611,220,129.12Net cash flows from financing activities 742,391,857.04970,189,839.11IV. Effect of exchange rate fluctuation on cash and cash equivalents 264,828.86124,180.42V. Net increase in cash and cash equivalents -1,975,951,881.04 -4,431,421,570.63Plus: beginning balance of cash and cash equivalents 6,433,112,497.5210,772,339,386.69VI. Ending balance of cash and cash equivalents 4,457,160,616.486,340,917,816.06Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.2437. Consolidated statement of changes in equityCurrent amountUnit: yuanItemHalf year of 2023Owner’s equity attributable to the parent companyMinorityinterestsTotalOwner’sEquitySharecapitalOther equityinstrumentsCapitalreserveMinus:treasurystockOthercomprehensiveincomeAppropriativereserveSurplusreserveGeneralriskreserveUndistributedprofitsOthersSubtotalPreferredsharesPerpetualbondsOthersI. Endingbalance ofthe previousyear4,53 8,75 8,09 5.00 1,20 0,00 0,00 0.00 1,98 9,90 9,11 5.83 10,5 35,9 39,7 04.1 7 1,07 9,19 0,85 8.47 - 864,757,065.97 3,45 0,85 2,95 7.31 9,47 2,25 2,71 0.50 29,2 43,7 64,6 58.3 7 14,4 71,4 23,0 19.9 9 43,7 15,1 87,6 78.3 6Plus:changes inaccountingpoliciesCorrection ofpreviouserrorsMerger ofenterprisesunder thesame controlOthersII.Beginningbalance ofthe currentyear4,53 8,75 8,09 5.00 1,20 0,00 0,00 0.00 1,98 9,90 9,11 5.83 10,5 35,9 39,7 04.1 7 1,07 9,19 0,85 8.47 - 864,757,065.97 3,45 0,85 2,95 7.31 9,47 2,25 2,71 0.50 29,2 43,7 64,6 58.3 7 14,4 71,4 23,0 19.9 9 43,7 15,1 87,6 78.3 6III. Increaseor decreasein the currentperiod (“-”for decrease)- 436,937.00 30,0 00,0 00.0 0 - 7,18 7.59 - 1,13 2,30 8,78 8.95 - 7,49 8,06 2.00 162,481,293.53 - 494,495.44 - 3,01 8,27 0,77 7.18 - 3,95 1,53 8,83 0.63 - 1,64 8,51 3,21 3.52 - 5,60 0,05 2,04 4.15(I) Totalcomprehensive income159,019,899.95 - 2,98 2,65 3,02 4.87 - 2,82 3,63 3,12 4.92 - 583,522,684.87 - 3,40 7,15 5,80 9.79(II) Capitalinvested orreduced byowners- 436,937.00 30,0 00,0 00.0 0 - 7,18 7.59 - 1,13 3,71 5,49 - 7,49 8,06 2.00 - 1,09 6,66 1,55 - 655,848,022.- 1,75 2,50 9,58Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.244 7.319.90061.961. Ordinarysharesinvested byowners- 1,25 0,74 8,68 9.18 - 1,25 0,74 8,68 9.18 - 646,695,496.27 - 1,89 7,44 4,18 5.452. Capitalcontributionfrom otherequityinstrumentholders1,81 3.00 30,0 00,0 00.0 0 - 7,18 7.59 26,7 56.2 9 - 5,15 7.51 30,0 26,5 39.2 1 30,0 26,5 39.2 13. Amount ofshare-basedpaymentincluded inowner’sequity- 438,750.00 117,170,733.94 - 7,49 2,90 4.49 124,224,888.43 6,72 0,33 3.00 130,945,221.434. Others- 164,298.36 - 164,298.36 - 15,8 72,8 58.7 9 - 16,0 37,1 57.1 5(III) Profitdistribution- 494,495.44 - 32,1 56,3 58.7 3 - 32,6 50,8 54.1 7 - 409,286,048.95 - 441,936,903.12 1.Appropriation of surplusreserve2.Appropriation of generalrisk reserve3.Distributionto owners (orshareholders)65,8 12.5 0 65,8 12.5 0 - 409,286,048.95 - 409,220,236.454. Others- 494,495.44 - 32,2 22,1 71.2 3 - 32,7 16,6 66.6 7 - 32,7 16,6 66.6 7(IV) Internalcarryover ofowner’sequity3,46 1,39 3.58 - 3,46 1,39 3.581. Capitalreserveconvertedinto capital(or shareFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.245capital)2. Surplusreserveconvertedinto capital(or sharecapital)3. Losscovered bysurplusreserve4. Change indefinedbenefit plancarriedforward toretainedearnings5. Othercomprehensive incomecarriedforward toretainedearnings3,46 1,39 3.58 - 3,46 1,39 3.586. Others(V)Appropriative reserve1.Appropriation in thecurrentperiod2.Applicationin the currentperiod(VI) Others1,40 6,70 8.36 1,40 6,70 8.36 143,542.36 1,55 0,25 0.72IV. Endingbalance ofcurrentperiod4,53 8,32 1,15 8.00 1,23 0,00 0,00 0.00 1,98 9,90 1,92 8.24 9,40 3,63 0,91 5.22 1,07 1,69 2,79 6.47 - 702,275,772.44 3,45 0,35 8,46 1.87 6,45 3,98 1,93 3.32 25,2 92,2 25,8 27.7 4 12,8 22,9 09,8 06.4 7 38,1 15,1 35,6 34.2 1Amount of last yearUnit: yuanItemHalf year of 2022Owner’s equity attributable to the parent company MinorityinterTotalOwShareOther equityinstrumentsCapitalMinus:OtherApproprSurplusGeneralUndistriOthersSubtotalFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.246ests ner’sEquitycapitalreservetreasurystockcomprehensiveincomeiativereservereserveriskreservebutedprofitsPreferredsharesPerpetualbondsOthersI. Endingbalance ofthe previousyear4,50 5,21 1,34 2.00 3,80 9,20 0,00 0.00 1,99 1,36 6,60 5.61 10,3 44,8 67,3 87.8 7 1,18 9,15 5,26 1.99 - 496,733,080.74 3,39 0,83 2,66 0.13 11,1 82,9 64,1 66.8 6 33,5 38,5 53,8 19.7 4 12,9 41,0 89,9 57.6 1 46,4 79,6 43,7 77.3 5Plus:changes inaccountingpoliciesCorrection ofpreviouserrorsMerger ofenterprisesunder thesame controlOthersII.Beginningbalance ofthe currentyear4,50 5,21 1,34 2.00 3,80 9,20 0,00 0.00 1,99 1,36 6,60 5.61 10,3 44,8 67,3 87.8 7 1,18 9,15 5,26 1.99 - 496,733,080.74 3,39 0,83 2,66 0.13 11,1 82,9 64,1 66.8 6 33,5 38,5 53,8 19.7 4 12,9 41,0 89,9 57.6 1 46,4 79,6 43,7 77.3 5III. Increaseor decreasein the currentperiod (“-”for decrease)- 120,268.00 - 2,56 0,00 0,00 0.00 - 168,639.36 174,024,059.33 - 2,93 4,60 5.65 - 141,415,160.34 - 1,26 6,83 3.67 - 4,29 2,53 3,81 3.98 - 6,81 8,54 6,05 0.37 - 1,11 6,34 5,94 3.55 - 7,93 4,89 1,99 3.92(I) Totalcomprehensive income- 141,415,160.34 - 4,13 9,74 3,76 4.00 - 4,28 1,15 8,92 4.34 - 1,03 6,54 5,48 4.84 - 5,31 7,70 4,40 9.18(II) Capitalinvested orreduced byowners- 120,268.00 - 2,56 0,00 0,00 0.00 - 168,639.36 162,248,070.14 - 2,93 4,60 5.65 - 1,26 6,83 3.67 1,26 6,83 3.67 - 2,39 5,10 6,23 1.57 348,863,633.14 - 2,04 6,24 2,59 8.431. Ordinarysharesinvested byowners0.00 167,899,271.07 0.00 167,899,271.07 336,000,728.93 503,900,000.002. Capitalcontributionfrom otherequityinstrument48,4 82.0 0 - 2,56 0,00 0,00 0.00 - 168,639.36 682,126.08 - 52,7 19.3 1 - 2,55 9,38 5,31 1.97 - 2,55 9,38 5,31 1.97Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.247holders3. Amount ofshare-basedpaymentincluded inowner’sequity- 168,750.00 - 1,72 6,86 2.88 - 2,88 1,88 6.34 986,273.46 986,273.464. Others- 4,60 6,46 4.13 - 1,26 6,83 3.67 1,26 6,83 3.67 - 4,60 6,46 4.13 12,8 62,9 04.2 1 8,25 6,44 0.08(III) Profitdistribution- 154,056,883.65 - 154,056,883.65 - 431,850,536.68 - 585,907,420.33 1.Appropriation of surplusreserve2.Appropriation of generalrisk reserve3.Distributionto owners (orshareholders)- 431,850,536.68 - 431,850,536.684. Others- 154,056,883.65 - 154,056,883.65 - 154,056,883.65(IV) Internalcarryover ofowner’sequity1. Capitalreserveconvertedinto capital(or sharecapital)2. Surplusreserveconvertedinto capital(or sharecapital)3. Losscovered bysurplusreserve4. Change inFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.248definedbenefit plancarriedforward toretainedearnings5. Othercomprehensive incomecarriedforward toretainedearnings6. Others(V)Appropriative reserve1.Appropriation in thecurrentperiod2.Applicationin the currentperiod(VI) Others11,7 75,9 89.1 9 11,7 75,9 89.1 9 3,18 6,44 4.83 14,9 62,4 34.0 2IV. Endingbalance ofcurrentperiod4,50 5,09 1,07 4.00 1,24 9,20 0,00 0.00 1,99 1,19 7,96 6.25 10,5 18,8 91,4 47.2 0 1,18 6,22 0,65 6.34 - 638,148,241.08 3,38 9,56 5,82 6.46 6,89 0,43 0,35 2.88 26,7 20,0 07,7 69.3 7 11,8 24,7 44,0 14.0 6 38,5 44,7 51,7 83.4 38. Statement of changes in equity of the parent companyCurrent amountUnit: yuanItemHalf year of 2023SharecapitalOther equity instrumentsCapitalreserveMinus:treasurystockOthercomprehensiveincomeAppropriativereserveSurplusreserveUndistributedprofitsOthersTotalOwner’sEquityPreferredsharesPerpetualbondsOthersI. Endingbalance ofthe previousyear4,538,758,0 95.00 1,200,000,0 00.00 1,989,909,1 15.83 11,26 3,661,726.9 3 1,079,190,8 58.47 1,147,599,4 91.62 2,860,573,5 33.14 21,92 1,311,104.0 5Plus:changes inFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.249accountingpoliciesCorrection ofpreviouserrorsOthersII.Beginningbalance ofthe currentyear4,538,758,0 95.00 1,200,000,0 00.00 1,989,909,1 15.83 11,26 3,661,726.9 3 1,079,190,8 58.47 1,147,599,4 91.62 2,860,573,5 33.14 21,92 1,311,104.0 5III. Increaseor decreasein the currentperiod (“-”for decrease)- 436,9 37.00 30,00 0,000.00 - 7,187.59 123,9 17,82 3.23 - 7,498,062.0 0 - 416,6 36,00 3.10 - 255,6 64,24 2.46(I) Totalcomprehensive income- 383,9 85,14 8.93 - 383,9 85,14 8.93(II) Capitalinvested orreduced byowners- 436,9 37.00 30,00 0,000.00 - 7,187.59 123,9 17,82 3.23 - 7,498,062.0 0 160,9 71,76 0.641. Ordinarysharesinvested byowners2. Capitalcontributionfrom otherequityinstrumentholders1,813.00 30,00 0,000.00 - 7,187.59 26,75 6.29 - 5,157.51 30,02 6,539.213. Amount ofshare-basedpaymentincluded inowner’sequity- 438,7 50.00 123,8 91,06 6.94 - 7,492,904.4 9 130,9 45,22 1.434. Others(III) Profitdistribution- 32,65 0,854.17 - 32,65 0,854.17 1.Appropriation of surplusreserve2.Distributionto owners (or65,81 2.50 65,81 2.50Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.250shareholders)3. Others- 32,71 6,666.67 - 32,71 6,666.67(IV) Internalcarryover ofowner’sequity1. Capitalreserveconvertedinto capital(or sharecapital)2. Surplusreserveconvertedinto capital(or sharecapital)3. Losscovered bysurplusreserve4. Change indefinedbenefit plancarriedforward toretainedearnings5. Othercomprehensive incomecarriedforward toretainedearnings6. Others(V)Appropriative reserve1.Appropriation in thecurrentperiod2.Applicationin the currentperiod(VI) OthersFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.251IV. Endingbalance ofcurrentperiod4,538,321,1 58.00 1,230,000,0 00.00 1,989,901,9 28.24 11,38 7,579,550.1 6 1,071,692,7 96.47 1,147,599,4 91.62 2,443,937,5 30.04 21,66 5,646,861.5 9Amount of last yearUnit: yuanItemHalf year of 2022SharecapitalOther equity instrumentsCapitalreserveMinus:treasurystockOthercomprehensiveincomeAppropriativereserveSurplusreserveUndistributedprofitsOthersTotalOwner’sEquityPreferredsharesPerpetualbondsOthersI. Endingbalance ofthe previousyear4,505,211,3 42.00 3,809,200,0 00.00 1,991,366,6 05.61 11,29 8,252,437.6 1 1,189,155,2 61.99 1,147,599,4 91.62 3,251,038,3 10.51 24,81 3,512,925.3 6Plus:changes inaccountingpoliciesCorrection ofpreviouserrorsOthersII.Beginningbalance ofthe currentyear4,505,211,3 42.00 3,809,200,0 00.00 1,991,366,6 05.61 11,29 8,252,437.6 1 1,189,155,2 61.99 1,147,599,4 91.62 3,251,038,3 10.51 24,81 3,512,925.3 6III. Increaseor decreasein the currentperiod (“-”for decrease)- 120,2 68.00 - 2,560,000,0 00.00 - 168,6 39.36 - 1,044,736.8 0 - 2,934,605.6 5 9,101.71 70,93 9,452.17 - 2,487,450,4 84.63(I) Totalcomprehensive income9,101.71 224,9 96,33 5.82 225,0 05,43 7.53(II) Capitalinvested orreduced byowners- 120,2 68.00 - 2,560,000,0 00.00 - 168,6 39.36 - 1,044,736.8 0 - 2,934,605.6 5 - 2,558,399,0 38.511. Ordinarysharesinvested byowners0.000.002. Capitalcontributionfrom otherequity48,48 2.00 - 2,560,000,0 00.00 - 168,6 39.36 682,1 26.08 - 52,71 9.31 - 2,559,385,3 11.97Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.252instrumentholders3. Amount ofshare-basedpaymentincluded inowner’sequity- 168,7 50.00 - 1,726,862.8 8 - 2,881,886.3 4 986,2 73.464. Others(III) Profitdistribution- 154,0 56,88 3.65 - 154,0 56,88 3.65 1.Appropriation of surplusreserve2.Distributionto owners (orshareholders)3. Others- 154,0 56,88 3.65 - 154,0 56,88 3.65(IV) Internalcarryover ofowner’sequity1. Capitalreserveconvertedinto capital(or sharecapital)2. Surplusreserveconvertedinto capital(or sharecapital)3. Losscovered bysurplusreserve4. Change indefinedbenefit plancarriedforward toretainedearnings5. OthercomprehensiFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.253ve incomecarriedforward toretainedearnings6. Others(V)Appropriative reserve1.Appropriation in thecurrentperiod2.Applicationin the currentperiod(VI) OthersIV. Endingbalance ofcurrentperiod4,505,091,0 74.00 1,249,200,0 00.00 1,991,197,9 66.25 11,29 7,207,700.8 1 1,186,220,6 56.34 9,101.71 1,147,599,4 91.62 3,321,977,7 62.68 22,32 6,062,440.7 3III. Company profile(I) Development historyNew Hope Liuhe Co., Ltd. (formerly Sichuan New Hope Agriculture Co., Ltd.) (hereinafter “the company” or“this company”) was incorporated on March 4,1998 with the approval of Sichuan Provincial People’s Government inC.F.H. (1997) No.260 Document after overall change to the former Mianyang Hope Feed Co., Ltd., with a registeredcapital of 140,020,000.00 yuan. Respectively on March 11,1998 and September 15,1998, the company publiclyissued 36,000,000 public shares to the public and 4,000,000 internal employee shares to its employees, which wererespectively listed for trading on Shenzhen Stock Exchange, with the stock code: 000876. After the company’s stockswere listed, the transfer of bonus shares in May 2000, allotment of shares in March 2001, transfer of bonus shares inJuly 2002, October 2002, June 2008 and May 2010, the implementation of the Company Equity Division Reform inAugust 2006, the completion of material assets reorganization in October 2011 and the implementation of the profitcompensation scheme for material assets reorganization in July 2014, the company’s total share capital was changedto 1,729,507,365 shares.According to the resolutions of the company’s extraordinary general meeting held on September 4,2013 andapproval of CSRC in the Reply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd. (CSRCApproval [2014] No.565), the company issued privately 354,609,927 shares to five particular shareholders includingSouth Hope Industrial Co., Ltd., against capital contributions made by each shareholder in cash. The privateplacement was completed on August 26,2014. Upon completion of this private placement, the company’s total sharecapital was changed to 2,084,117,292 shares.According to the resolutions of the company’s annual general meeting of 2015, based on the total share capitalof 2,084,117,292 shares, the capital reserve was transferred to increase the share capital for 10 shares per 10 shares,with related paperwork for this conversion into share capital completed on June 27,2016, upon which the company’stotal share capital was changed to 4,168,234,584 shares.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.254According to the resolutions of the company’s second extraordinary general meeting in 2016 held on June 29,2016 and approval of CSRC (CSRCApproval [2016] No.3187), the company changed its total share capital to4,216,015,009 shares on January 16,2017 with the related paperwork for acquisition of 70% equities in YanglingBesun through issue of shares and payment of cash.According to the resolutions of the company’s annual general meeting of 2018 and approval of CSRC in theReply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRCApproval[2019] No.1902), the company publicly issued 40 million convertible corporate bonds each having a par value of 100yuan on January 3,2020, for a total amount of 4.0 billion yuan. Duration of the convertible bonds is from January 3,2020 to January 2,2026, convertible from July 9,2020 to January 2,2026. In 2020, the share capital was increasedby 111,119,860 shares by conversion of convertible bonds into shares.According to the resolutions of the first extraordinary general meeting of the company in 2019 held on June 6,2019, the Proposal regarding the ‘Restricted Stock and Stock Option Incentive Plan 2019 (Draft) of New Hope LiuheCo., Ltd.’ and its Summary was approved, whereby the company completed grant of 3.60 million restricted shares to24 incentive beneficiaries and registration of 8.40 million stock options on July 29,2019, increasing its share capitalby 2,166,055 shares due to exercise of stock options as of June 30,2023. According to the resolutions of the firstextraordinary general meeting in 2020, the first extraordinary general meeting in 2021 and the first extraordinarygeneral meeting in 2022 of the company, the Proposal to Cancel Some Stock Options and Repurchase SomeRestricted Stocks for Cancellation was approved, and the company repurchased 1,406,250 restricted shares forcancellation as of June 30,2023.According to the resolutions of the company’s annual general meeting of 2019 and approval of CSRC in theReply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd. (CSRCApproval [2020]No.1961), the company privately placed 177,147,918 RMB ordinary shares to two particular shareholders, namely,South Hope Industrial Co., Ltd. and New Hope Group Co., Ltd., against capital contributions by each shareholder incash. The private placement was completed on September 18,2020.According to the resolutions of the second extraordinary general meeting of the company in 2020 held onNovember 18,2020, and approval of CSRC in the Reply on Approval of Public Issuing of Convertible CorporateBonds by New Hope Liuhe Co., Ltd. (CSRCApproval [2021] No.1351), the company publicly issued 81.50 millionconvertible corporate bonds on November 2,2021, each having a par value of 100 yuan, for a total amount of 8.15billion yuan and duration from November 2,2021 to November 1,2027, which are convertible from May 9,2022 toNovember 1,2027. In the first half of 2023, the capital stock was increased by 1,813 shares due to conversion ofconvertible bonds into shares.According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co.,Ltd.’ and its Summary deliberated and approved at the 52nd meeting of the 8th board of directors and the annualgeneral meeting of 2021, and the Proposal on Adjusting Matters Related to the Restricted Stock Incentive Plan 2022deliberated and approved at the 3rd meeting of the 9th board of directors, the company granted 41.37 millionrestricted shares to incentive beneficiaries, including 33.2750 million restricted shares granted for the first time and8.0950 million restricted shares reserved for grant. The source of shares for this restricted stock incentive plan is thecompany’s RMBA-share common stock issued by the company to the incentive beneficiaries. The first award date ofthis incentive plan is July 25,2022.According to the Proposal on Granting Reserved Restricted Stock to Incentive Beneficiaries deliberated andapproved at the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors of thecompany,8.095 million restricted shares were reserved for grant on May 30,2023.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.255In the first half of 2023, the company changed its total share capital to 4,538,321,158 shares due to increase of1,813 shares after the conversion of convertible bonds into shares, and decrease of 438,750 shares after therepurchase and cancellation of restricted stocks.As of June 30,2023, the total share capital of the company was 4,538,321,158 shares, including 36,108,329outstanding restricted shares and 4,502,212,829 outstanding unrestricted shares.(II) Business situationAfter years of development, by the end of June 2023, the company has successively possessed 751 directly orindirectly controlled subsidiaries,17 affiliates and 8 joint ventures in 30 Chinese provinces, municipalities,autonomous regions and special administrative regions (including Sichuan, Yunnan, Guizhou, Beijing, Shanghai,Chongqing, Guangdong, Hainan, Hebei, Henan, Shandong, Shanxi, Jiangsu, Anhui, Zhejiang, Jiangxi, Hubei, Hunan,Shaanxi, Liaoning, Jilin, Heilongjiang, Gansu, Inner Mongolia, Tibet, Guangxi, Ningxia, Tianjin, Hong Kong, Fujian)and 15 foreign countries (including: Vietnam, Cambodia, the Philippines, Bangladesh, Indonesia, Sri Lanka,Singapore, Myanmar, Laos, Nepal, Egypt, Turkey, South Africa, India, Nigeria) through investment andincorporation and M&As, thus becoming an industry conglomerate with feed, farming, slaughtering and meatproducts as its core competitiveness.(III) Address, business scope and other information of the companyThe company’s business license registration number is 91510000709151981F; legal representative is Liu Chang;registered address is National High-tech Industry Development Zone, Mianyang, Sichuan Province;headquarters’ address is No.376, Jinshi Road, Jinjiang Industrial Park, Chengdu, Sichuan.The company’s business scope: production and processing of compound feeds, concentrated feeds andconcentrate supplements (by branches only) (the above business items and term of business are subject to thebusiness license). General business items (the following scope does not include business items subject to pre-registration approval, while business items subject to post-registration approval are to be conducted by virtue oflicense or approval document): planting of cereals and other crops; raising of livestock; raising of pigs; poultryraising; wholesale and retail sale of goods; import and export business; project investment and management;scientific and technological exchange and promotion services.(IV) Main products of the companyThe company’s main products of its feed business include pig feed, poultry feed, fish feed, etc.; the mainproducts of its swine business include breeding pigs and commercial pigs; the main products of its poultry businessinclude breeding poultry, commercial poultry, poultry slaughter, etc.; its food products mainly include livestockslaughter, deep processing of meat products, central kitchen, etc.(V) Financial report approval dateThe financial statements for FY2023 of the company were approved by its board of directors on August 31,2023.(VI) Scope of consolidated financial statementsAs of June 30,2021, the company had 751 subsidiaries included in the scope of its consolidated financialstatements; compared with the previous year,5 new subsidiaries were added in the scope of consolidated financialstatements this year, and 15 subsidiaries were no longer included in the scope of consolidation this year. For details,please refer to the relevant contents of “Note VIII. Changes in the scope of consolidation” and “Note IX. Interests inother entities”.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.256IV. Preparation basis of the financial statements1. Preparation basisThe semiannual financial statements 2023 of the company have been prepared on a going concern basis, basedon the accrual system and actual transactions and events, in accordance with the Accounting Standards for BusinessEnterprises–Basic Principles and specific accounting standards, Guidelines for Application of the AccountingStandards for Business Enterprises, interpretations of the Accounting Standards for Business Enterprises and otherrelevant rules (hereinafter collectively referred to as “ASBE”) of the Ministry of Finance, as well as the disclosurerules set forth in the Rules for the Preparation of Information Disclosure by Companies Offering Securities to thePublic No.15–General Provisions for Financial Reporting issued by CSRC.2. Going concernThese financial statements have been prepared on a going concern basis. The company has the ability tocontinue operations for at least 12 months after the end of the reporting period, and there are no major events thataffect its ability as a going concern.V. Significant accounting policies and accounting estimatesReminder about specific accounting policies and accounting estimates:Based on the practical production and operation characteristics, the company has formulated specific accountingpolicies and accounting estimates for provisioning for bad debts of receivables, inventory valuation methods,measurement of biological assets, depreciation of fixed assets, revenue recognition and other transactions and events,as detailed in Note V. “(10) Financial instruments, (11) Inventories, (17) Fixed assets, (20) Biological assets, (21)Right-of-use assets, (22) Intangible assets, (33) Revenue”. The indicative description of important accountingjudgments and estimates made by the company when applying its accounting policies is detailed in “Note V. (38)Important accounting judgments and estimates”.1. Statement on compliance with ASBEThe semiannual financial statements 2023 of the company comply with the requirements of the AccountingStandards for Business Enterprises, and give a true and complete view of the financial status as of June 30,2023 andthe business results and cash flow of the company in the first half of 2023. In addition, the company’s financialstatements in all material aspects comply with the disclosure requirements related to financial statements and theirnotes as set forth in the Rules for the Preparation of Information Disclosure by Companies Offering Securities to thePublic No.15–General Provisions for Financial Reporting issued by CSRC.2. Accounting periodThe accounting period of the company is divided into annual and interim periods; the accounting year begins onJanuary 1 and ends on December 31 of the Gregorian calendar, and the accounting interim period refers to a reportingperiod shorter than one full accounting year.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.2573. Operating cycleThe company treats a period from acquisition of assets used for processing to realization of cash or cashequivalents as a normal operating cycle, and the operating cycle of each business segment of the company is shorterthan 12 months; the company uses 12 months as a criterion for classification of liquidity of assets and liabilities.4. Functional currencyThe company and its domestic subsidiaries use RMB as accounting currency; its overseas subsidiaries usecurrencies in the primary economic environments in which they operate as accounting currencies, and overseassubsidiaries need to prepare financial statements in accounting currencies and financial statements converted intoRMB.5. Accounting treatment for business combination under common control and not under common control(1) Business combination under the same controlA business combination in which companies participating in combination are all ultimately controlled by thesame one or more parties before and after combination and such control is not temporary is a business combinationunder common control. Assets and liabilities acquired by the combing party in a business combination are measuredat book value thereof in the consolidated financial statements of the ultimate controlling party at the combination date.The share capital premium in the capital reserve is adjusted by the difference between the book value of net assetsacquired and the book value of combination consideration paid (or total par value of shares issued); the retainedearnings are adjusted if the share capital premium in capital reserve is insufficient for offsetting. The combinationdate is the date when the combining party actually acquires the control of the combined party.(2) Business combination not under common controlA business combination in which all parties participating in combination are not ultimately controlled by thesame one or more parties before and after combination is a business combination not under common control. The sumof assets paid out by the acquiring party to acquire the control of the acquired party (including equities held in theacquired party before the purchase date), liabilities incurred or assumed and fair value of equity securities issued atthe purchase date minus the share of identifiable net assets of the acquired party at the purchase date that are acquiredin combination is recognized as goodwill if positive or charged to the current non-business revenue if negative. Thepurchase date is the date when the acquiring party actually acquires the control of the acquired party.For a business combination not under common control that is realized step by step through multiple transactions,equities of the acquired party held prior to the purchase date are re-measured at the fair value of such equities as ofthe purchase date, and the difference between fair value and their book value is charged to the current investmentincome. Other comprehensive income involved in equities of the acquired party held prior to the purchase date andaccounted for under the equity method and subsequently re-classifiable to profit or loss and other changes inownership interest are transferred to the current investment income at the purchase date; where the equities held inthe acquired party prior to the purchase date are equity instrument investments at fair value through othercomprehensive income, other comprehensive income recognized before the purchase date is transferred to theretained earnings at the purchase date.(3) Treatment of related transaction costs in business combinationThe audit, legal service, appraisal consulting and other intermediary fees and other related management expensesincurred by the company for business combination are charged to the current profit or loss as and when incurred. TheFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.258transaction costs of equity securities or debt securities issued by the company as the consideration for combinationare charged to the initially recognized amount of the equity securities or debt securities.6. Method for preparation of consolidated financial statements(1) General principlesThe scope of consolidation of consolidated financial statements is determined based on control, including thecompany and subsidiaries controlled by the company. Control means the company has the power over the investedentity to enjoy variable return by participating in the related activities of the invested entity and has the ability toexert its power over the invested entity to influence the amount of its return. The company begins to include asubsidiary in the scope of consolidation as of the date when the company acquires the actual control of the subsidiary;the company ceases to include the subsidiary in the scope of consolidation as of the date of loss of the actual control.The equities, profit or loss and total comprehensive income attributable to minority shareholders of subsidiariesare separately presented in the shareholder equities of the consolidated balance sheet and after the items of net profitsand total comprehensive income on the consolidated income statement respectively. If the current loss shared byminority shareholders of a subsidiary exceeds the share of minority shareholders in the beginning ownership interestof the subsidiary, its balance is still offset against the minority interests.When the accounting policy or accounting period adopted by any of its subsidiaries is inconsistent with thatadopted by the company, necessary adjustments have been made to the financial statements of such subsidiaryaccording to the company’s accounting policy or accounting period at the time of combination. All significantinternal transactions, internal current accounts and unrealized profit or loss on internal transactions within the scopeof consolidation have been offset when preparing the consolidated financial statements.(2) Acquisition of subsidiaries by combinationFor a subsidiary acquired through business combination under common control, when preparing the consolidatedcurrent financial statements, based on the book value of all assets and liabilities of the combined subsidiary in thefinancial statements of the ultimate controlling party, the combined subsidiary is treated as if it has been included inthe scope of consolidation of the company when the ultimate controlling party of the company begins exercisingcontrol over it, and corresponding adjustments are made to the beginning amounts of the consolidated financialstatements and previous comparative statements. For a subsidiary acquired through business combination not undercommon control, when preparing the consolidated current financial statements, based on the fair value of variousidentifiable assets and liabilities of the acquired subsidiary as determined at the purchase date, the acquired subsidiaryis included in the scope of consolidation of the company as of the purchase date.(3) Disposal of subsidiariesWhen the company loses its control over an existing subsidiary, the resulting gains or losses from disposal arecharged to the investment income in the period during which the control is lost. Where the control over an existingsubsidiary is lost due to disposal of part of equity investment or otherwise, in the consolidated financial statements,the remaining equities are re-measured at the fair value thereof at the date of loss of control; the sum of theconsideration acquired by disposal of equities and the fair value of remaining equities minus the share of the netassets continuously calculated by the existing subsidiary from the date of purchase as calculated at the originalshareholding ratio and goodwill is charged to the investment income during the period in which the control is lost.Moreover, other comprehensive income and etc. related to the equity investment in the existing subsidiary arecharged to the current investment income at the time of loss of control, except for other comprehensive incomeresulting from changes in net liabilities or net assets of the defined benefit plan re-measured by such existingsubsidiary.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.259Where the company disposes of its equity investment in a subsidiary step by step through multiple transactionsuntil loss of control, distinction needs to be made as to whether all such transactions constitute a package deal:①These transactions are entered into simultaneously or taking into account the mutual effect;②These transactions can only achieve a complete commercial result if made together;③The occurrence of a particular transaction depends upon occurrence of at least one other transaction;④A particular transaction is uneconomical if looked at individually, but is economical if considered togetherwith other transactions.Where various transactions do not constitute a package deal, each of the transactions before loss of control overthe subsidiary is treated for accounting purpose according to the applicable principles described in the partial disposalof equity investments in a subsidiary without loss of control (as detailed in “Note V.6(4)”).Where various transactions constitute a package deal, the various transactions are accounted for as a singletransaction of disposal of subsidiary and loss of control; however, the difference between each disposal price beforeloss of control and the share of net assets of such subsidiary corresponding to disposal of investment as continuouslycalculated as from the purchase date is charged to other comprehensive income in the consolidated financialstatements, and transferred to the profit or loss in the period of loss of control all together at the time of loss ofcontrol.(4) Changes in minority interestThe capital reserve in the consolidated financial statements is adjusted by both the difference between the long-term equity investment newly acquired by the company due to purchase of minority interest and the share of netassets of the subsidiary as calculated at the newly-added shareholding ratio and the difference between the disposalprice acquired from partial disposal of equity investments in subsidiaries without loss of control and the share of netassets of the subsidiaries corresponding to disposal of long-term equity investments, with the retained earnings to beadjusted if the capital reserve is sufficient for offsetting purposes.7. Classification of joint venture arrangements and accounting treatment of joint operationA joint venture arrangement refers to the arrangement wherein two or more parties have joint control. Jointventure arrangements are divided into joint operation and joint venture, based on the rights and obligations of thecompany in such joint venture arrangement. Joint operation refers to a joint venture arrangement in which thecompany enjoys the assets related to such arrangement and assumes the liabilities related to such arrangement. Jointventure refers to the joint venture arrangement in which the company only has the right to the net assets of sucharrangement. As a party to joint operation, the company recognizes assets separately held and liability separatelyassumed by the company and assets held jointly and liabilities assumed jointly by the company according to its share;recognizes the income from joint operation due to sale of products according to the company’s share; recognizes theexpenses incurred separately by the company and recognizes the expenses incurred by joint operation according tothe company’s share. The investments of the company in joint venture are accounted for using the equity method andtreated according to “Note V. (15) Long-term equity investments” for accounting purposes.8. Criteria for determination of cash and cash equivalentsCash and cash equivalents of the company include cash on hand, bank deposits available for payment at anytime, and investment of short term (generally due in 3 months since purchase date) and strong liquidity, easy to beconverted into known amount with small risk of value variation.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.2609. Foreign currency transactions and translation of foreign currency statements(1) Foreign currency transactionsThe company converts the foreign currency transactions from foreign-currency amount into amount infunctional currency at the spot exchange rate on the date of transaction, but the foreign exchange transactions ortransactions involving foreign exchange that are incurred by the company are converted into amounts in accountingcurrency at the exchange rate actually used. At the balance sheet date, the foreign-currency monetary items areconverted at the spot exchange rate at the balance sheet date, with the resulting exchange difference generally chargedto the current profit or loss, except that:① the exchange difference resulting from foreign-currency special borrowings related to acquisition of assetsthat meet the capitalization conditions is treated according to the principles for capitalization of borrowing costs;② the exchange difference from hedging instruments used for effective hedging of net investments in overseasoperations is charged to other comprehensive income and will not be recognized as current profit or loss untildisposal of the net investments;③ the exchange difference resulting from changes in book balances of foreign-currency monetary itemsavailable for sale other than amortized costs is charged to other comprehensive income.Foreign currency non-monetary items measured at their historical costs are measured at the amount inaccounting currency converted at the spot exchange rate when the transaction occurs. Foreign currency non-monetaryitems measured at fair value are converted at the spot exchange rate at the date of determination of fair value, with thedifference charged to the current profit or loss or other comprehensive income.(2) Translation of foreign currency statementsIf the consolidated financial statements involve an overseas business, for foreign currency monetary itemssubstantially constituting net investment in the overseas business, the exchange difference arising from change inexchange rate is included in other comprehensive income as “foreign currency statements translation difference”; andrecorded into profit or loss of the period when the overseas business is disposed. The method for foreign currencystatement translation of overseas operations is as follows:① the items of assets and liabilities in the balance sheet are converted at the spot exchange rate at the date ofbalance sheet; all items of ownership interest other than the item of “undistributed profits” are converted at the spotexchange rate when incurred, and the item of “undistributed profits” is calculated and presented according to items ofnet profits and profit distribution; the difference in total amount of items of assets, liabilities and ownership interestafter conversion is recognized as other comprehensive income, after being treated as the foreign currency statementtranslation difference. When an overseas operation is disposed of and the control thereof is lost, the foreign currencystatement translation difference presented under the item of other comprehensive income in the balance sheet andrelated to such overseas operation is transferred to the current profit or loss from disposal in entirety or according tothe ratio of such overseas operation disposed of.② the items of income, cost and expense and others in the income statement are converted at the exchange rateapproximate to the spot exchange rate when the transaction occurs.③ the items in the cash flow statement that reflect the incurred amounts are converted to the exchange rateapproximate to the spot exchange rate when the transaction occurs, with the effects of exchange rate changes on cashpresented separately in the cash flow statement.10. Financial instrumentsFinancial instruments refer to the instruments that form financial assets of a party and form the financialliabilities or equities of other parties.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.261(1) Classification of financial instrumentsFinancial instruments include financial assets and financial liabilities, consisting of monetary capital, creditor’srights investments, equity investments other than long-term equity investments, receivables, payables, borrowings,bonds payable and share capital, etc.(2) Recognition and initial measurement of financial assets and financial liabilitiesThe company recognizes financial assets and financial liabilities in the balance sheet when it becomes a party tothe related financial instrument contract terms. All financial assets and financial liabilities are measured at fair valueat the time of initial recognition, except for accounts receivable that don’t have significant financing component. Forfinancial assets or financial liabilities at fair value through profit or loss, related transaction costs are directly chargedto the current profit or loss; for other types of financial assets or financial liabilities, related transaction costs arecharged to the initially recognized amounts. Accounts receivable that have no significant financing component areinitially measured by the company at the transaction price determined according to the accounting policies specifiedin “Note V. (33) Revenue”(3) Classification and subsequent measurement of financial assets①Classification of financial assetsThe company classifies financial assets into different categories according to its business model of financialassets management and the characteristics of contract cash flow of financial assets:financial assets measured at amortized cost, financial assets at fair value through other comprehensive income,and financial assets at fair value through profit or loss.Unless the company changes its business model for management of financial assets, in which case all relatedfinancial assets affected are reclassified the first day during the first reporting period after the change in the businessmodel, financial assets may not be reclassified after initial recognition.The company classifies a financial asset that meets all of the following conditions at the same time and is notdesignated as financial asset at fair value through profit or loss as a financial asset measured at amortized cost.A. The business model of the company for management of such financial asset aims at receiving contractualcash flow;B. The contractual terms of such financial asset provide that the cash flow arising on a particular date consistssolely of payment of principal and interest based on outstanding principal amount.The company classifies a financial asset that meets all of the following conditions at the same time and is notdesignated as financial asset at fair value through profit or loss as a financial asset measured at fair value throughother comprehensive income:A. The business model of the company for management of such financial asset aims at both receivingcontractual cash flow and selling such financial asset;B. The contractual terms of such financial asset provide that the cash flow arising on a particular date consistssolely of payment of principal and interest based on outstanding principal amount.For equity instrument investments held not for trading, the company may irrevocably designate them as financialassets at fair value through other comprehensive income at the time of initial recognition. Such designation is madeon the basis of individual investments and the related investments meet the definition of equity instrument from theperspective of issuer. Apart from the aforesaid financial assets measured at amortized cost and financial assets at fairvalue through other comprehensive income, the company classifies all financial assets as financial assets at fair valuethrough profit or loss. At the time of initial recognition, if the accounting mismatch can be eliminated or significantlyreduced, the company may irrevocably designate financial assets that would otherwise be measured at amortized costor financial assets that would otherwise be at fair value through other comprehensive income as financial assets at fairvalue through profit or loss. The business model for management of financial assets refers to how the companyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.262manages the financial assets in order to generate cash flow. The business model determines whether the source ofcash flow from financial assets managed by the company is receiving contractual cash flow or selling financial assetsor both. The company determines its business model for management of financial assets pursuant to objective factsand based on the specific business objectives determined by the key management personnel for management offinancial assets.The company assesses the contractual cash flow characteristics of financial asses in order to determine whetherthe contractual cash flow from related financial assets at a particular date consists solely of payment of principal andinterest based on outstanding principal amount. Of which, the principal refers to the fair value of a financial asset atthe time of initial recognition; interest includes the time value of currency, the credit risk associated with outstandingprincipal amount during a specific period and the consideration for other basic loan risks, costs and profits. Inaddition, the company assesses the contractual terms that might result in changes to the time distribution or amount ofcontractual cash flow from a financial asset in order to determine whether it meets the requirements of the aforesaidcontractual cash flow characteristics.②Subsequent measurement of financial assetsA. After the initial recognition of financial assets at fair value through profit or loss, such financial assets aresubsequently measured at fair value and the resulting gains or losses (including interest and dividend revenue) arecharged to the current profit or loss, unless such financial assets are part of hedging relationship.B. After the initial recognition of financial assets measured at amortized cost, such financial assets are measuredat amortized cost using the effective interest rate method. The gains or losses resulting from a financial asset that ismeasured at amortized cost and is not part of any hedging relationship are charged to the current profit or loss whenderecognized, amortized according to effective interest rate method or recognized with respect to impairment.C. After the initial recognition of creditor’s right investments that are measured at fair value through othercomprehensive income, these financial assets are subsequently measured at fair value. The interest, impairment lossor gain and exchange gain or loss calculated using the effective interest rate method are charged to the current profitor loss, with other gains or losses charged to other comprehensive income. At the time of de-recognition, theaccumulated gains or losses previously charged to other comprehensive income are transferred out of othercomprehensive income and charged to the current profit or loss.D. After the initial recognition of equity instrument investments that are measured at fair value through othercomprehensive income, these financial assets are subsequently measured at fair value. The dividend revenue ischarged to profit or loss, and other gains or losses are charged to other comprehensive income. At the time of de-recognition, the accumulated gains or losses previously charged to other comprehensive income are transferred out ofother comprehensive income and charged to the retained earnings.(4) Classification and subsequent measurement of financial liabilitiesThe company classifies financial liabilities into financial liabilities at fair value through profit or loss andfinancial liabilities measured at amortized cost.① Financial liabilities at fair value through profit or lossSuch financial liabilities include financial liabilities held for trading (including derivative instruments that arefinancial liabilities) and financial liabilities designated as at fair value through profit or loss.After the initial recognition, such financial liabilities are subsequently measured at fair value, and the resultinggains or losses (including interest expense) except otherwise related to hedge accounting are charged to the currentprofit or loss.②Financial liabilities measured at amortized costAfter the initial recognition, such financial liabilities are measured at amortized cost using the effective interestrate method.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.263(5) Offset of financial assets and financial liabilitiesFinancial assets and financial liabilities are separately presented in the balance sheet without offsetting. However,where the following conditions are all met, they are presented in the balance sheet at the net amount after mutualoffset:① the company has the legal right to offset the recognized amounts and such legal right is currently enforceable;② the company plans to make netting settlement or realize such financial assets and repay such financialliabilities at the same time.(6) Termination of recognition of financial assets and financial liabilitiesSuch financial asset is derecognized when one of the following conditions is met:① the contractual right to receive the cash flow from such financial asset terminates;② such financial asset has been transferred and almost all risk and reward on the ownership of such financialasset has been transferred by the company to the transferee;③ such financial asset has been transferred and the company has waived the control of such financial assetalthough the company has not transferred or retained almost all risk and reward on the ownership of the financialasset.When the transfer of a financial asset fully meets the conditions for de-recognition, the company charges thedifference between the following two amounts to the current profit or loss:① the book value of the financial asset being transferred at the date of de-recognition;② the sum of consideration received due to transfer of financial asset and the amount in the accumulated amountof fair value change previously directly charged to the other comprehensive income that corresponds to thederecognized portion (the financial asset transfered is creditor’s rights investment measured at fair value throughother comprehensive income)When the present obligations for a financial liability (or a part of it) have been released, the companyderecognizes such financial liability (or such part of financial liability).(7) Impairment of financial assets①The company conducts impairment accounting treatment and recognizes loss provisions for the followingitems based on expected credit loss:A. Financial assets measured at amortized cost;B. Contract assets;C. Creditor’s right investments at fair value through other comprehensive income;D. Lease receivablesOther financial assets measured at fair value in the company’s possession are not applicable to the expectedcredit loss model, including creditor’s rights investments or equity instrument investments measured at fair valuethrough profit or loss, equity instrument investments designated as measured at fair value through othercomprehensive income, and derivative financial assets.②Measurement of expected credit lossExpected credit loss refers to the weighted average of credit loss from financial instruments with the risk ofdefault as weight. Credit loss refers to the difference between all contractual cash flows of the company discountedby the original actual interest rate and receivable according to contract and all cash flows expected to be received, i.e.,the present value of all cash shortfalls.When measuring the expected credit loss, the longest period that the company needs to consider is the longestterm of contract with respect to which the company faces credit risk (including considering the renewal option).Expected credit loss during the entire duration refers to the expected credit loss resulting from any and all possibleevents of default during the entire expected duration of financial instruments. Expected credit loss within the next 12Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.264months refers to the expected credit loss resulting from possible events of default under financial instruments within12 months after the date of balance sheet (or the expected duration, if the expected duration of financial instrument isless than 12 months), which is part of the expected credit loss during the entire duration.For accounts receivable, lease receivables, other receivables and contract assets (collectively “receivables”), thecompany always measures their loss provision at the amount equivalent to the expected credit loss during the entireduration.At the end of reporting period, the company conducts impairment test for receivables individually for whichthere is objective evidence that they have been impaired, and recognizes impairment loss and accrues bad debtprovision based on the difference between its present value of estimated future cash flow lower than its book value.When it is impossible to assess information about expected credit loss at a reasonable cost for individualfinancial assets, the company classifies receivables portfolios according to credit risk characteristics and calculatesexpected credit loss on the basis of portfolio. For receivables classified as risk mix, the company calculates theexpected credit loss from the aforesaid financial assets based on the historical credit loss experience and using theprovision matrix, with related historical experience adjusted based on the specific factors of borrower at the balancesheet date and the assessment of current situation and forecast future economic condition.Except for accounts receivable, lease receivables, other receivables and contract assets, the company measuresthe loss provision for the financial instruments that meet one of the following circumstances at the amount equivalentto expected credit loss within the next 12 months, and measures the loss provision for other financial instruments atthe amount equivalent to expected credit loss during the entire duration:A. Such financial instrument only has a relatively low credit risk at the balance sheet date;B. The credit risk of such financial instrument has not significantly increased since the initial recognition.Having a relatively low credit risk; if the default risk of a financial instrument is relatively low, the borrower is highlyable to perform its contractual cash flow obligations in short term and the ability of the borrower to perform itscontractual cash flow obligations is not necessarily reduced even if there are adverse changes to the economicsituation and operating environment in a relatively long period, such financial instrument is considered as having arelatively low credit risk. Significant increase in credit risk: the company determines the relative changes in defaultrisk during the expected duration of a financial instrument by comparing the default risk of the financial instrument atthe balance sheet date and the default risk at the date of initial recognition, in order to assess whether the credit risk ofthe financial instrument has been significantly increased. When determining whether the credit risk has beensignificantly increased, the company considers reasonable and well-founded information readily available withoutincurring unnecessary additional costs or efforts, including forward-looking information. The information consideredby the company includes:A. The circumstances in which the debtor fails to pay the principal and interest by the expiry date of contract;B. Severe deteriorations of external or internal credit ratings of the financial instrument (if any) that haveoccurred or are expected;C. Severe deterioration of the business results of the debtor that have occurred or are expected;D. Existing or expected changes to the technology, market, economic or legal environment that have materialadverse effect on the debtor’s ability to make repayments to the company.According to the nature of a financial instrument, the company assesses whether the credit risk has beensignificantly increased based on individual financial instruments or financial instrument portfolio. When assessingbased on financial instrument portfolio, the company may classify financial instruments based on the common creditrisk characteristics.③Financial assets with respect to which credit impairment has occurredFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.265The company assesses whether the financial assets measured at amortized cost and creditor’s rights investmentsat fair value through other comprehensive income have incurred credit impairment at the balance sheet date. Whenone or several events that have adverse effect on the expected future cash flow of a financial asset occur, suchfinancial asset becomes a financial asset with respect to which credit impairment has occurred. The evidence that afinancial asset has incurred credit impairment includes the following observable information:A. The issuer or debtor is experiencing significant financial difficulties;B. The debtor has violated a contract, such as default or delinquent in repayment of interest or principal;C. The company gives the debtor concessions that would otherwise not be made in any circumstances out ofconsideration for economy or contract related to the financial difficulties of the debtor;D. The debtor is highly likely to go bankrupt or conduct other financial reorganization;E. The financial difficulties of the issuer or debtor have resulted in disappearance of active markets for suchfinancial asset.④Presentation of provision for expected credit lossTo reflect the changes in credit risk of a financial instrument since its initial recognition, the company re-measures the expected credit loss at each balance sheet date, as a result of which the increased or reversed amount ofloss provision is charged to the current profit or loss as impairment loss or gain. For a financial asset measured atamortized cost, the loss provision is credited against the book value of such financial asset indicated in the balancesheet; for a creditor’s rights investment that is measured at fair value through other comprehensive income, thecompany recognizes its loss provision in other comprehensive income, without charging against the book value ofsuch financial asset.⑤Write-offIf the company no longer reasonably expects that the contractual cash flow of a financial asset can be recoveredin full or in part, the company directly writes down the book balance of such financial asset. Such write-downconstitutes de-recognition of the underlying financial asset. Such circumstance usually arises when the companydetermines the debtor has no asset or income source that can generate sufficient cash flow to repay the written-downamount. However, the written-down financial asset might still be affected by the enforcement activities related tocollection of amounts due by the company. The written-down financial asset that is subsequently recovered ischarged to the profit or loss in the period of recovery as the reversal of impairment loss.(8) Equity instrumentsThe consideration received by the company from issue of equity instruments is charged to the shareholder equityafter deduction of the transaction costs. The shareholder equity is reduced by the consideration and transaction costspaid to repurchase the equity instruments of the company. When repurchasing the shares in the company, the sharesrepurchased are managed as treasury shares and any and all expenses incurred to repurchase shares are transferred tothe costs of treasury shares, while the same are registered at the same time for future reference. Treasury shares donot participate in profit distribution and are presented as the item of allowance for shareholder equity in the balancesheet. When canceling treasury shares, the share capital is reduced by the total nominal value of canceled stock, andthe portion of the costs of treasury shares in excess of the total nominal value is charged against the capital reserve(share capital premium), surplus reserve and undistributed profits in succession; where the costs of treasury shares arelower than the total nominal value, the capital reserve (share capital premium) is increased by the portion lower thanthe total nominal value. When transferring treasury shares, the capital reserve (share capital premium) is increased bythe portion of the transfer income in excess of the costs of treasury shares; the portion lower than the costs of treasuryshares is charged against the capital reserve (share capital premium), surplus reserve and undistributed profits insuccession.(9) Convertible instrumentsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.266①Convertible instruments containing equity componentFor convertible instruments issued by the company that are convertible into equity shares and with respect towhich the number of shares issued and the amount of consideration at the time of conversion are fixed, the companytreat them as compound instruments containing liability and equity components.At the time of initial recognition, the company splits related liability and equity components and first determinesthe fair value of the liability component (including fair value of non-equity embedded derivative instruments thatmight be contained) and then deduct the fair value of liability component from the fair value of compound instrumentand charges results to equities as the value of equity component. The transaction costs incurred to issue compoundinstruments are allocated between the liability component and equity component according to respective ratios of thetotal issue price.After the initial recognition, the liability component not designated as at fair value through profit or loss ismeasured at amortized cost using the effective interest rate method. The equity component is no longer measuredafter initial measurement. When converting a convertible instrument, the company transfers the liability componentand equity component to related accounts of equities.When a convertible instrument is redeemed, the price paid for redemption and transaction costs incurred areallocated to the equity and liability components. The method for allocating the price and transaction costs isconsistent with the allocation method adopted when this instrument is issued. After allocating the price andtransaction costs, their difference with the book value of equity and liability components is charged to equities ifrelated to equity component or charged to profit or loss if related to liability component.②Other convertible instruments containing no equity componentFor other convertible instruments issued by the company and containing no equity component, at the time ofinitial recognition, the derivative instrument component of the convertible instrument is measured at fair value andthe remaining part is treated as the initially recognized amount of principal debt instrument.After initial recognition, the derivative instrument component is measured at fair value and the gains or lossesresulting from change in fair value are charged to current profit or loss. The principal debt instruments are measuredat amortized cost using the effective interest rate method.When converting a convertible instrument, the company transfers the principal debt instrument and derivativeinstrument component to the accounts related to equities. When a convertible instrument is redeemed, the differencebetween the price paid for redemption and the book value of the principal debt instrument and derivative instrumentcomponent is charged to the profit or loss.(10) Preferred shares and perpetual bondsThe company, based on the contractual terms of preferred shares and perpetual bonds issued and the economicsubstance reflected by them and in light of the definitions of financial assets, financial liabilities and equityinstruments, classifies these financial instruments or their components into financial assets, financial liabilities orequity instruments at the time of initial recognition.The company treats preferred shares and perpetual bonds issued by it and containing both equity component andliability component according to the same accounting policies as convertible instruments containing equitycomponent. The company treats preferred shares and perpetual bonds issued by it and containing no equitycomponent according to the same accounting policies as other convertible instruments containing no equitycomponent.The company charges preferred shares and perpetual bonds issued by it and classifiable as equity instruments toequities at the amount actually received. Where dividends or interest are distributed during the period of existence,they are treated as profit distribution. Where preferred shares and perpetual bonds are redeemed according tocontractual terms, they are charged against equities at the redemption price.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.26711. InventoriesThe company is required to comply with disclosure requirements set forth in the Self-regulatory Guideline No.3 ofShenzhen Stock Exchange for Listed Companies - Industry Information Disclosure with respect to “livestock, poultryand aquaculture related businesses”.(1) Classification of inventoriesInventories are classified into raw materials, packaging materials, products in progress, merchandises in stock,low-value consumables, goods shipped, outsourced processed supplies, consumptive biological assets and revolvingmaterials.The specific accounting policy for consumptive biological assets is detailed in “Note V. (20) Biological assets”.(2) Inventory costs and valuation method for inventories shippedInventories are initially measured at the actual cost at the time of acquisition. Inventory costs include purchasecost, processing cost and other expenditures incurred to bring the inventories to the current location and state. Forinventories shipped, costs are carried over using the one-off weighted average method at the end of month.(3) Basis of determination of net realizable value of inventory and method for accrual of inventory revaluationreserveAt the end of period, when the inventory cost is lower than the net realizable value, the inventory is measured atcost; when the inventory cost is higher than the net realizable value, the inventory is measured at net realizable value,and the inventory revaluation reserve accrues by the difference of the cost over the net realizable value and is chargedto the current profit or loss. The net realizable value refers to the amount of the estimated selling price of inventoryminus the costs estimated to incur up to the time of completion, the estimated selling costs and related taxes andcharges in the daily activities.For inventories that are numerous and have a low unit price, the inventory revaluation reserve accrues by theinventory type. For inventories having the same or similar end use or purpose and related to the product seriesproduced and distributed in the same area and difficult to valuate separately from other items of such product series,the inventory deprecation reserve accrues on a consolidated basis; for other inventories, the inventory revaluationreserve accrues by the difference the cost of individual inventory item in excess of its net realizable value.At the balance sheet date, if the factors affecting the previously written-down inventory value have disappeared,the written-down amount is restored and reversed to the extent of amount of previously accrued inventory revaluationreserve, with the reversed amount charged to the current profit or loss.(4) Inventory systemThe inventory follows the perpetual inventory system.(5) Amortization of low-value consumables and packaging materialsLow-value consumables and packaging materials are amortized using the one-off amortization method whenrequisitioned. Revolving materials that have large sums and a relatively long service life are amortized using thestage-wise average amortization method.12. Contract assets and contract liabilitiesIn the contracts between the company and its customers, the company has the right to collect contract prices forgoods transferred and related services provided to customers, while assuming the performance obligation to transferthe goods or services to customers.The right of the company to collect consideration for goods or services transferred to its customers (and suchright depends upon factors other than elapse of time) is presented as contract asset and impairment of contract assetFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.268accrues based on the expected credit loss. The right of the company to unconditionally (only dependent upon elapseof time) collect consideration from customers is presented as receivables.The obligation of the company to transfer goods or services to customers for consideration received orreceivable from its customers is presented as contract liability. When the company performs its obligation to transfergoods or provide services to customers, the contract liability is recognized as revenue.The company presents contract assets and contract liabilities under the same contract as a net amount aftermutually offsetting them.13. Contract cost(1) Categories and recognition of contract costContract cost includes the incremental cost incurred to acquire contracts and contract performance cost. Theincremental cost incurred to acquire contracts refers to the cost that the company would not incur if the contracts arenot acquired (such as sales commission, etc). If such cost is expected to be recovered, the company recognizes it as anasset by treating it as contract acquisition cost. Other expenditures incurred by the company to acquire a contractother than the incremental cost expected to be recovered are charged to the current profit or loss as and when incurred.Where the cost incurred to perform a contract that is outside the scope of inventories or otherwise not subject toother enterprise accounting standards and meets all of the following conditions, the company recognizes it as an assetby treating it as contract performance cost:①Such cost is directly related to a contract currently acquired or expected to be acquired, including direct labor,direct materials, manufacturing costs (or similar costs), costs specified to be borne by customers and other costsincurred solely due to such contract;②Such cost has increased the resources to be used by the company for performing its performance obligationsin the future;③Such cost is expected to be recovered.(2) Amortization and impairment of contract costThe assets for which contract acquisition cost is recognized and the assets for which contract performance cost isrecognized (hereinafter, “assets related to contract cost”) are amortized on the same basis as recognition of revenuefrom goods or services related to such assets and charged to the current profit or loss. They are charged to currentprofit or loss as and when incurred if the amortization period is no more than one year. When the book value of anasset related to contract cost is higher than the difference between the following two items, the company makesimpairment provision for the excess portion and recognizes it as asset impairment loss:① the remaining consideration that the company expects to receive due to transfer of goods or services related tosuch asset;② the cost estimated to be incurred to transfer such related goods or services.After making the impairment provision, if the factors of impairment in the previous period changed such that theaforesaid difference of the ① minus ② is higher than the book value of such asset, the asset impairment provisionpreviously made is reversed and charged to the current profit or loss, provided that the book value of the asset afterreversal shall not exceed the book value of such asset at the reversal date should the impairment provision not havebeen made.14. Held-for-sale assets(1) Held for saleFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.269When the company recovers the book value of a non-current asset or disposal group mainly by selling ratherthan continuously using it, such non-current asset or disposal group is classified as held for sale.The non-current assets mentioned above do not include financial assets, deferred income tax assets, investmentproperties that are subsequently measured at fair value, biological assets that are measured at fair value minus sellingcosts, assets formed from employee compensation and rights arising from insurance contracts.Disposal group refers to a group of assets that are disposed of through sale or otherwise as a whole in a singletransaction, and the liabilities transferred in such transaction that directly related to these assets.The company classifies a non-current asset or disposal group that meets both of the following conditions as held-for-sale:① such non-current asset or disposal group is readily available for sale under the current conditions according tothe customary practices of sale of such type of assets or disposal groups in similar transactions;② the sale is highly likely to occur, i.e., the company has made a resolution on a sale plan, has executed legallybinding purchase agreement with other parties and expects that the sale will be completed within a year;The company initially and subsequently measures non-current assets or disposal groups held for sale at the bookvalue and the net amount of fair value minus the selling costs, whichever is lower, and recognizes the difference ofbook value higher than the net amount of fair value minus selling costs as the asset impairment loss and charges it tothe current profit or loss.(2) Discontinued operationsThe company defines a component that meets one of the following conditions and can be separatelydistinguished and has been disposed of or classified as held for sale by the company as discontinued operation:① such component represents an independent main business or a separate main operating region;② such component is part of a related plan for proposed disposal of an independent main business or a separatemain operating region;③ such component is a subsidiary acquired specifically for resale.For currently presented discontinued operations, the company presents profit or loss from continuous operationsand profit or loss from discontinued operations respectively in the current income statement, and presents informationpreviously presented as profit or loss from continuous operations in the income statement of comparative period asprofit or loss from discontinued operations during the comparable accounting period again.15. Long-term equity investmentsLong-term equity investments refer to equity investments that have control, common control or significantinfluence over the invested entity, including investments in subsidiaries, affiliates and joint ventures. The equityinvestments whereby the company has no control, common control or significant influence over the invested entityare accounted for as financial assets at fair value through other comprehensive income or financial assets at fair valuethrough profit or loss, with respect to which the accounting policies are detailed in “Note V. (10) Financialinstruments”.(1) Judgment criteria for common control and significant influenceCommon control refers to the control shared by the company over a particular arrangement according toapplicable covenants, provided that the related activities under such arrangement may not be decided without theunanimous consent of participants sharing the control. Judging whether there is common control disregards theprotective rights enjoyed by a participating party. Where the company and other joint venture parties jointly exertcommon control over the invested entity and enjoy the right to the net assets of the invested entity, the invested entityis deemed a joint venture of the company.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.270Significant influence refers to the power to participate in decision making regarding the financial and businesspolicies of an enterprise, but not enough to control or jointly control the formulation of these policies with otherparties. Where the company is able to exert significant influence on the invested entity, the invested entity is deemedan affiliate of the company. When the company directly or indirectly through subsidiaries holds more than 20% butless than 50% of the voting shares in the invested entity, the company is generally considered as having significantinfluence over the invested entity, unless there is conclusive evidence hat the company cannot participate in theproduction and business decisions of the invested entity. When the company holds less than 20% of the voting sharesin the invested entity, but one or several of the following circumstances exist, the company will give overallconsideration to all facts and circumstances and make judgments about whether it has significant influence or not:① the representation of the company on the board of directors or similar governing body of the invested entity;② participation in the financial and business policy making process of the invested entity;③ material transactions between the company and the invested entity;④ assignment of managers to the invested entity;⑤ provision of key technical data to the invested entity.(2) Determination of initial investment cost①Long-term equity investment resulting from business combinationFor a long-term equity investment resulting from business combination under common control, the share of thebook value of ownership interest of the combined party in the consolidated financial statements of the ultimatecontrolling party at the date of combination is treated as the initial investment cost of the long-term equity investment.The share capital premium in the capital reserve is adjusted by the difference between the initial investment cost of along-term equity investment and the book value of consideration paid; the retained earnings are adjusted if the sharecapital premium in the capital reserve is insufficient for offsetting purposes. For a long-term equity investmentresulting from business combination not under common control, the fair values of assets paid out, liabilities incurredor assumed and equity securities issued by the company to acquire the control over the acquired party at the purchasedate is treated as the initial investment cost of such investment.②Long-term equity investments acquired by otherwise than business combinationWith respect to long-term equity investments acquired by otherwise than business combination, at the time ofinitial recognition, for a long-term equity investment acquired by payment in cash, the company treats the purchaseprice actually paid as the initial investment cost; for a long-term equity investment acquired by issuance of equitysecurities, the company treats the fair value of equity securities issued as the initial investment cost.(3) Subsequent measurement and profit or loss recognitionLong-term equity investments whereby the company exerts control over the invested entity are accounted forusing the cost method; a long-term equity investment in affiliates and joint ventures is accounted for using the equitymethod, unless such investment meets the conditions for being held for sale.①Long-term equity investment accounted for using the cost methodWhen accounted for using the cost method, the long-term equity investments are valuated at the initialinvestment cost, with the costs of long-term equity investments adjusted by the additional or recovered investments.Except for the price actually paid at the time of acquisition of investment or cash dividends or profits included in theconsideration that have already been declared but not yet distributed, the current income on investment is recognizedat the cash dividends or profits declared and distributed by the invested entity that the company is entitled to.②Long-term equity investment accounted for using the equity methodWhen using the equity method, the initial investment cost of long-term equity investment is not adjusted if theinvestment cost of a long-term equity investment is higher than the company’s share of fair value of identifiable netassets of the invested entity at the time of investment; if the investment cost of long-term equity investment is lessFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.271than the share of fair value of identifiable net assets of the invested entity at the time of investment, the resultingdifference is charged to the current non-business revenue, while adjusting the cost of long-term equity investment.When using the equity method and during the period of holding of a long-term equity investment, the companyrecognizes the investment income and other comprehensive income respectively at the share of net gains and lossesand other comprehensive income realized by the invested entity, while the book value of long-term equity investmentis adjusted at the same time; the share is calculated at the profits or cash dividends declared and distributed by theinvested entity, and the book value of the long-term equity investment is reduced accordingly; for changes inownership interest of the invested entity other than net profits and losses, other comprehensive income and profitdistribution, the company charges its share of them to the capital reserve while adjusting the book value of the long-term equity investment. When recognizing the share of changes in net profits and losses, other comprehensive incomeand other ownership interests realized by the invested entity, the company, based on the fair value of identifiable netassets of the invested entity at the time of acquisition of investment, recognizes investment income and othercomprehensive income after making necessary adjustments according to the company’s accounting policies oraccounting period; the aforesaid adjustments to the financial statements of the invested entity shall follow theprinciple of materiality. The portion of unrealized profit or loss attributable to the company and arising from internaltransactions between the company and its affiliates and joint ventures is calculated at the ratio that the company isentitled to and then offset at the time of accounting under the equity method. The unrealized loss from internaltransactions, where there is evidence that such loss is related asset impairment loss, is recognized in full and is notoffset. When recognizing the net losses incurred by the invested entity that the company shall share, the companyrecognizes such net losses until the book value of long-term equity investment and other long-term equities thatsubstantially constitute the net investment in the invested entity are written down to zero. In addition, if the companyhas the obligation to assume additional loss of the invested entity, estimated liabilities are determined at expectedobligations and recognized in current investment loss. Where the invested entity realizes net profit in the subsequentperiods, the company resumes recognition of the revenue share after the revenue share covers the unrecognized shareof losses.(4) Conversion of accounting method for long-term equity investments①Conversion from fair value measurement to equity method accountingWhere an equity investment originally held in an invested entity (without control, common control or significantinfluence) is treated for accounting according to the financial instrument recognition and measurement standards, andthe shareholding ratio is increased due to additional investment or otherwise, thus allowing the company to exertcommon control or significant influence over the invested entity, when accounting for using the equity methodinstead, the company treats the fair value of original equity investment determined according to the financialinstrument recognition and measurement standards plus the fair value of consideration paid to acquire additionalinvestment as the initial investment cost accounted for using the equity method instead. Where the originally heldequity investment is classified as investment in other equity instruments, the accumulated fair value change originallycharged to other comprehensive income shall be transferred to the retained earnings. Then, the initial investment costderived by the aforesaid calculation is compared with the share of fair value of identifiable net assets of the investedentity at the date of additional investment as calculated and determined at the whole new shareholding ratio afteradditional investment, with no adjustments to the book value of the long-term equity investment if the former islarger than the latter; if the former is less than the latter, the difference shall adjust the book value of long-term equityinvestment and be charged to the current non-business revenue.②Conversion from fair value measurement or equity method accounting to cost method accountingFor an equity investment originally held in the invested entity without control, common control or significanceand treated for accounting according to financial instrument recognition and measurement standards, or long-termFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.272equity investments originally held in affiliates or joint ventures, where they become able to exert control over theinvested entity due to additional investments or otherwise, they are treated as long-term equity investments formedfrom business combination.③Conversion from equity method accounting to fair value measurementWhere a long-term equity investment originally held in the invested entity with common control or significantinfluence becomes unable to exert common control or significant influence over the invested entity due to decreasedshareholding ratio as a result of partial disposal or otherwise, the remaining equity investments are treated accordingto financial instrument recognition and measurement standards instead, and the difference between the fair value andbook value at the date of loss of common control or significant influence is charged to the current profit or loss. Othercomprehensive income originally accounted for using the equity method should be treated on the same basis as theinvested entity directly disposes of related assets or liabilities when ceasing to be accounted for using the equitymethod, while ownership interest recognized due to changes in ownership interest of the invested entity other than netprofit or loss, other comprehensive income and profit distribution is transferred in full to the current investmentincome when ceasing to be accounted for using the equity method.④Conversion from cost method to equity method or fair value measurementWhere control over an invested entity is lost due to disposal of part of equity investments or otherwise, whenpreparing individual financial statements, the remaining equities after disposal, if able to exert common control orsignificant influence over the invested entity, are accounted for using the equity method instead, and such remainingequities are adjusted as if they have been accounted for using the equity method as of the time of acquisition. Wherethe remaining equities after disposal cannot exert common control or significant influence over the invested entity,they are measured at fair value according to the financial instrument recognition and measurement standards, and thedifference between their fair value and book value at the time of loss of control is charged to the current investmentincome.(5) Impairment of long-term equity investmentsThe company judges at the balance sheet date whether there is any indication of impairment of long-term equityinvestments and, if yes, conducts impairment test as if they are individual long-term investments. If the results ofimpairment test indicate the recoverable amount of a long-term equity investment is lower than its book value, theimpairment provision is made at the difference and charged to the profit or loss.(6) Disposal of long-term equity investmentsWhen disposing of a long-term equity investment, the difference between its book value and price actuallyacquired is charged to the current profit or loss. For a long-term equity investment accounted for using the equitymethod, when disposing such investment in full, related other comprehensive income originally accounted for underthe equity method should be treated on the same basis as the invested entity directly disposes of related assets orliabilities, and ownership interest recognized due to changes in ownership interest of the invested entity other than netprofit or loss, other comprehensive income and profit distribution should be transferred in full to the currentinvestment income when ceasing to be accounted for using the equity method; in case of partial disposal andremaining equities still accounted for using the equity method, the other comprehensive income originally recognizedshould be treated on the same basis as the invested entity directly disposes of related assets or liabilities and carriedover pro rata, while ownership interest recognized due to changes in ownership interest of the invested entity otherthan net profit or loss, other comprehensive income and profit distribution should be carried over to the currentinvestment income pro rata. When the enterprise partially disposes of long-term equity investments held andconversion of accounting method occurs, related accounting treatment is as shown in the aforesaid provisionsregarding conversion of accounting methods for long-term equity investments.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.27316. Investment propertiesMeasurement model for investment propertiesMeasurement using the cost methodDepreciation or amortization methodMeasurement model for investment properties Cost measurement Depreciation or amortization method(1) Classification of investment propertiesInvestment property refers to real property held to earn rent or for capital appreciation or both, including leasedland use right, land use right held for transfer after appreciation and leased buildings, etc.(2) Measurement of investment propertiesPurchased investment property is initially measured at the cost at the time of acquisition, which consists of thepurchase price, related taxes and expenses directly attributable to such asset; the costs of investment property built bythe company consist of the expenditures required to bring the investment property to the intended state of usability.The subsequent expenditures related to investment properties are charged to the costs of investment properties if theeconomic benefits related to such asset are highly likely to flow to the company and its costs can be reliablymeasured. Other subsequent expenditures are charged to the current profit or loss as and when incurred. The companymeasures investment properties using the cost model, i.e., presenting them in the balance sheet at the cost minusaccumulated depreciation, amortization and impairment provision. The costs of investment properties are depreciatedor amortized using the straight-line method over the service life after deduction of the estimated net residual valueand accumulated impairment provision, unless the investment properties meet the conditions for being held for sale.The depreciation policy for leased buildings is the same as that for house buildings in the fixed assets, and theamortization policy for leased land is the same as that for land use right in the intangible assets.(3) Impairment of investment propertiesAt the balance sheet date, the company examines investment properties for any indication of impairment andconducts impairment tests when there is any indication of impairment, and makes impairment provision at thedifference of recoverable amount lower than the book value, which will not be reversed in subsequent accountingperiods once made.17. Fixed assets(1) Conditions for recognitionFixed assets of the company are tangible assets held by the company for production of commodities, provision of services, leasingor business management and that have a service life of more than one accounting year. A fixed asset is recognized when theeconomic benefits related to such fixed asset are highly likely to flow to the company and the cost of such fixed asset can bereliably measured. Fixed assets are initially measured at actual cost at the time of acquisition. The initial cost of a purchased fixedasset includes purchase price, related taxes and expenditures incurred to bring such asset to the intended usable state andattributable to such asset. The initial cost of a self-built fixed asset is determined by the necessary expenditures incurred to bringsuch asset to the intended usable state. The subsequent expenditures related to a fixed asset including expenditures related toreplacement of a particular component of the fixed asset, are capitalized and charged to the costs of fixed assets if the economicbenefits related to such fixed asset are highly likely to flow to the company and its costs can be reliably measured, while deductingthe book value of the replaced portion; expenditures related to daily maintenance of fixed assets are charged to current profit orloss as and when incurred.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.274(2) Depreciation methodCategory Depreciation method Depreciation period Residual value ratioAnnual depreciationrateHouses and buildings Straight-line method 5-40 years 5.00% 2.38%－19.00%Machinery andequipmentStraight-line method 3-15 years 5.00% 6.33%－31.67%Transport equipment Straight-line method 3-10 years 5.00% 9.50%－31.67%Others Straight-line method 3-5 years 5.00% 19.00%－31.67%A fixed asset is depreciated over its estimated service life using the straight-line method at its entry value minusthe estimated net residual value. For a fixed asset with respect to which impairment provision accrues, thedepreciation amount is determined in the future period at the book value net of impairment provision and accordingthe remaining service life. The service lives, estimated net residual value rates and annual depreciation rates ofvarious fixed assets are shown in the above table.The company determines the service life and estimated net residual value of a fixed asset based on the natureand usage of the fixed asset, and reviews the service lives, estimated net residual values and depreciation methods forfixed assets at least at the end of each year.(3) Impairment of fixed assetsAt the balance sheet date, the company accrues fixed asset impairment provision by the difference of therecoverable amount of a fixed asset lower than its book value and charges it to the current profit or loss if itsrecoverable amount becomes lower than the book value due to continuous decline of market prices, technologicalobsolescence, damage, long-term idleness or otherwise. The fixed asset impairment loss, once recognized, will not bereversed in the subsequent accounting periods.(4) Disposal of fixed assetsThe company de-recognizes a fixed asset if it is in the state of disposal or such fixed asset is expected not togenerate economic benefits through use or disposal. The difference between net proceeds from scrapping or disposalof a fixed assets and its book value is charged to profit or loss at the date of scrapping or disposal.18. Construction in progress(1) Categories of construction in progressConstruction in progress mainly consists self-operated works, contracted-out works and equipment installationworks. The project costs of construction in progress are determined by the expenditures actually incurred, and self-operated works are measured at the direct materials, direct wage and direct construction costs; contracted-out worksare measured at the project price payable; the project costs of equipment installation works are determined by thevalue of equipment installed, instillation costs and the expenditures incurred by project commissioning, etc. The costsof construction in progress also include the borrowing costs and exchange gains or losses that should be capitalized.(2) Carry-over of construction in progress to fixed assetsA fixed asset being built is transferred to fixed assets when it reaches the intended usable state. Where a fixedasset built reaches the intended usable state but has not yet completed the final settlement of accounts, its cost shouldbe determined at estimated value and its depreciation starts from the next month; the original estimated value is notFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.275adjusted at the actual cost until after the completion settlement, but without adjusting the originally accrueddepreciation amount.(3) Impairment of construction in progressAt the balance sheet date, the company examines construction in progress for any indication of impairment andconducts impairment tests when there is any indication of impairment, and makes impairment provision at thedifference of recoverable amount lower than the book value. The recoverable amount of a work in progress isdetermined by the higher of the fair value of asset minus disposal costs and the present value of estimated future cashflows of the asset. The impairment loss of construction in progress, once recognized, will not be reversed insubsequent accounting periods.19. Borrowing costsBorrowing costs refer to interest and other related costs incurred by the company due to borrowings, includingloan interest, amortization of premium or discount, auxiliary expenses and exchange difference resulting fromforeign-currency borrowings.(1) Principles for capitalization of borrowing costsThe borrowing costs incurred by the company that can be directly attributed to the acquisition or production ofassets eligible for capitalization are capitalized and charged to the related asset cost, and other borrowing costs are allrecognized as financial expenses as and when incurred. Assets that meet the conditions for capitalization refer tofixed assets, inventories and other assets that can reach the intended usable or marketable state only after aconsiderably long period of acquisition or production activities.(2) Capitalization period of borrowing costsThe capitalization period refers to the period from the commencement time of capitalization of borrowing coststo the time of cessation of capitalization, excluding the period during which the capitalization of borrowing costs issuspended. The borrowing costs begin being capitalized when the capital expenditure and the borrowing costs havebeen incurred and the acquisition or production activities required for the assets to reach the intended usable ormarketable state have commenced. When the assets acquired or produced that meet the conditions for capitalizationreach the intended usable or marketable state, the borrowing costs cease to be capitalized. Where an asset that meetsthe conditions for capitalization is abnormally interrupted in the process of acquisition or production and the period ofinterruption continues for more than 3 months, the capitalization of borrowing costs is suspended until after the assetacquisition or production activities recommence.(3) Calculation method for capitalized amount of borrowing costsFor the special borrowings borrowed to acquire or produce an asset that meets the conditions for capitalization,the capitalized amount of the borrowing costs is determined based on the interest expense actually incurred in theperiod of special borrowing minus the interest income acquired from depositing of the unused borrowed funds in thebank or the amount of investment income acquired on temporary investment. For general borrowings used to acquireor produce an asset that meets the conditions for capitalization, the interest amount on the general borrowings to becapitalized is calculated and determined based on the capital expenditure weighted average of the portion ofaccumulated asset expense in excess of the special borrowing multiplied by the capitalization rate of the generalborrowings used. The capitalization rate is calculated based on the weighted average interest rate of generalborrowing.20. Biological assets(1) Conditions for recognition of biological assetsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.276Biological assets refer to living animals and plants and a biological asset is recognized when the followingconditions are met at the same time:① the company owns or control such biological asset due to past transactions or events;② economic benefits or service potential related to such biological asset are highly likely to flow to thecompany;③ the costs of such biological assets can be reliably measured.(2) Classification and costing of biological assetsThe company’s biological assets include consumptive biological assets and productive biological assets.Biological assets are all measured at actual cost and are subjected to cost accounting by distinguishing categories andbatches. Costs of a biological asset refer to necessary expenditures attributable to such asset and incurred to bringsuch asset to the marketable stage (refers to consumptive biological assets) or intended purpose of production andoperations such as seedling cost, feed cost, drug cost, labor cost, fuel and power cost, depreciation charges, leaseexpenses, other agricultural manufacturing costs, including borrowing costs eligible for capitalization.①Consumptive biological assetsConsumptive biological assets refer to biological assets held for sale, and the company’s consumptive biologicalassets mainly include suckling piglets, nursery piglets, fattening pigs, and commodity broilers (ducks).A. Suckling piglets refer to piglets from date of birth to date of weaning, and costs of suckling piglets mainlyinclude depreciation charges of breeding pigs and feeding costs at such stage.B. Nursery piglets refer to piglets from the date of weaning to date of transfer from nursery pigpen, and costs ofnursery piglets mainly include costs of suckling piglets and feeding costs at the nursing stage.C. Fattening pigs refer to pigs from the date of transfer from nursery pigpen to the date of slaughter, and costs offattening pigs include costs of nursery piglets and feeding costs at the fattening stage.D. Commercial generation broilers (ducks): costs of commercial generation broilers (ducks) include costs ofbaby chicks (ducks) and feeding costs of commercial generation broilers (ducks).②Productive biological assetsProductive biological assets refer to the biological assets held for production of agricultural products, includingimmature productive biological assets and mature productive biological assets. The productive biological assets of thecompany mainly include breeding pigs and breeding chicks (ducks).A. Breeding pigs: divided into immature breeding pigs and mature breeding pigs based on whether the intendedproduction and operation purposes are achieved. Achieving the intended production and operation purposes meansbreeding pigs enter the normal production period and can continuously and stably produce conforming piglets. Costsof immature breeding pigs include seedling costs and feeding costs at the growth stage. After they become mature,they are transferred to the mating pigpen for production of piglets and transferred in accounting terms to the categoryof mature breeding pigs, before being accounted for using asset card established for individual pigs. The subsequentexpenditures incurred after achieving the intended production and operation purposes such as feeding costs are allcharged to the costs of piglets or semen but no longer charged to costs of breeding pigs.B. Breeding chicks(ducks): divided into immature breeding chicks (ducks) and mature breeding chicks (ducks)based on whether intended production and operation purposes are achieved. Achieving the intended production andoperation purposes means breeding chicks(ducks) enter the normal production period and can continuously and stablyproduce conforming hatching eggs. Costs of immature breeding hens (ducks) include seedling costs and feeding costsat the growth stage. After they become mature, they are transferred to the egg-laying hen house for production ofhatching eggs and transferred in accounting terms to the category of mature breeding hens (ducks), before beingaccounted for using asset card established for individual batches. The subsequent expenditures incurred afterFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.277achieving the intended production and operation purposes such as feeding costs are charged to the costs of hatchingeggs but no longer charged to costs of breeding hens (ducks).③Conversion of biological assetsIn case of conversion of biological assets, such as consumptive biological assets re-purposed as productivebiological assets or productive biological assets re-purposed as consumptive biological assets, the costs after changeof use are determined at the book value at the time of change of use.(3) Depreciation of biological assetsFor productive biological assets that have achieved the predefined purpose of production and operation (i.e.,mature productive biological assets), the company determines their service life, estimated net residual value anddepreciation methods (depreciation methods including straight-line method and units-of production method) based ontheir nature, usage and expected way of realization of related economic benefits, and reviews the service life,estimated net residual value and depreciation methods of productive biological assets at least at the end of year, suchthat any difference with the original estimates is treated as accounting estimate change. The service lives, estimatednet residual values and depreciation methods of mature productive biological assets of the company are as follows:Category Estimated service life (or productionoutput)Estimated net residualvalueBreeding sows of generations other than three-way crossbred sows36 months 500-1400 yuan/pigThree-way crossbred sows 24 months 500-1400 yuan/pigBreeding boars 18 months 500-1400 yuan/pigBreeding hens 155 eggs/90 eggs (molting) 25 yuan/henBreeding ducks 245 eggs/120 eggs (molting) 30 yuan/duck(4) Impairment of biological assetsConsumptive biological assets are measured at the lower of book value and net realizable value, and productivebiological assets are measured at the lower of book value or recoverable amount. At least at the end of each year, thecompany examines its biological assets for any indication of impairment, and accrues the revaluation reserve forconsumptive biological assets or impairment provision for productive biological assets by the difference of the netrealizable value or recoverable amount lower than book value and charges it to the current profit or loss if there isconclusive evidence that the net realizable value of consumptive biological assets or recoverable amount ofproductive biological assets is lower than its book value. If the factors affecting the impairment of consumptivebiological assets have disappeared, the written-down amount should be restored and reversed to the extent of amountof previously accrued revaluation reserve, with the reversed amount charged to the current profit or loss. Theimpairment provision for productive biological assets, once accrued, will not be reversed in subsequent accountingperiods.The company is required to comply with disclosure requirements set forth in the Self-regulatory Guideline No.3 of Shenzhen StockExchange for Listed Companies - Industry Information Disclosure with respect to “livestock, poultry and aquaculture relatedbusinesses”.21. Right-of-use assetsThe categories of the company’s right-of-use assets mainly include total leasing, land, houses and buildings,machinery and equipment, transport equipment and others. At the commencement date of lease term, the companyrecognizes its right to use leased assets within the lease term as right-of-use asset, and the initial cost of right-of-useasset includes the initially measured amount of lease liabilities, lease payments paid on or before the commencementFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.278date of lease term, net of amounts related to lease incentives already enjoyed if lease incentives exist; initial directcosts incurred by the lessee; and the costs expected to be incurred by the lessee to dismantle and remove leased assets,restore the site of leased assets or restore the leased assets to the state agreed in the lease terms.The company depreciates its right-of-use assets using the straight-line method. Where it can be reasonablydetermined that the ownership of a leased asset can be acquired upon expiration of the lease term, the companydepreciates the leased asset over the remaining service life of the leased asset. Otherwise, the leased asset isdepreciated over the lease period or the remaining service life of the leased asset, whichever is shorter. The right-of-use assets accrue impairment provision according to the accounting policy described in “Note V. (24) Impairment oflong-term assets”.22. Intangible assets(1) Valuation method, service life and impairment testIntangible assets refer to the identifiable non-monetary assets owned or controlled by the company withoutphysical form.①Valuation method for intangible assetsThe company’s intangible assets mainly include land use right, trademark license, patent and software, etc. Anintangible asset is recognized only when economic benefits related to it is highly likely to flow to the company and itscost can be reliably measured. Intangible assets are measured initially at cost and the company analyzes and judgesthe service life of an intangible asset when acquiring it. An intangible asset with a limited service life is amortizedusing the straight-line method; intangible assets with uncertain service life are not amortized.②Determination of service life of an intangible assetThe service life of an intangible assets is determined by the period specified by laws and regulations, if any; orby the period of benefit specified in the related contract if there is no period specified by laws and regulations; or bythe reasonably estimated service life if there is no period specified by laws and regulations or contracts and theeconomic service life can be reasonably estimated. The estimated service lives and amortization methods ofintangible assets of the company are presented as follows:Item Estimated service life Basis AmortizationmethodLand use right 40-50 years Service life stipulated by law Straight-linemethodPatents 10 or 20 years Service life stipulated by law Straight-linemethodTrademarks 10 years Service life stipulated by law Straight-linemethodOther office software 3 years Reasonable estimation Straight-linemethod③Judgment criteria for intangible assets with uncertain service lifeThe company judges land use rights held by overseas subsidiaries as intangible assets with uncertain service life.④Impairment of intangible assetsAt balance sheet date, the company examines its intangible assets for any indication of impairment, and shouldconduct impairment tests when there is any indication of impairment, and makes impairment provision at thedifference of the recoverable amount lower than the book value, with the recoverable amount determined at thehigher of fair value of intangible asset minus disposal costs and the present value of the estimated future cash flowsfrom the intangible asset; the impairment loss, once accrued, will not be reversed in subsequent accounting periods.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.279(2) Accounting policy on internal R&D expendituresThe company divides its R&D projects into the research phase and development phase according to thefollowing criteria: the phase of original, planned investigation and research activities conducted to acquire andunderstand new scientific or technological knowledge is determined as the research phase, which is planned andexploratory, etc; the phase where research findings or other knowledge are applied to a particular plan or designbefore commercial production or use in order to produce new or substantially improved materials, devices or productsis determined as the development phase, which is characterized by specificity and high likelihood to formachievements.The expenditures at the research phase are charged to the current profit or loss as and when incurred. Theexpenditures at the development phase can be capitalized only when all of the following conditions are met at thesame time, otherwise charged to the current profit or loss as and when incurred.①The completion of such intangible asset to make it usable or sellable is technically feasible;②There is an intention to complete, use or sell such intangible asset;③The way the intangible asset generates economic benefits consists of the ability to prove there is a market forproducts produced using such intangible asset or a market for the intangible asset itself, provided that if the intangibleasset is to be used internally, its usefulness should be demonstrated;④There are sufficient technical, financial and other supports to complete the development of such intangibleasset and there is ability to use or sell such intangible asset;⑤The expenditure attributable to the development phase of such intangible asset can be reliably measured.23. GoodwillFor goodwill formed from business combination not under common control, its initial cost is the difference ofthe combination cost larger than the share of fair value of identifiable net asses of the acquired party acquired in thecombination.The company does not amortize goodwill and presents it in the balance sheet at cost minus accumulatedimpairment provision. Goodwill is transferred out at the time of disposal of its related asset group or combination ofasset groups, and charged to the current profit or loss.24. Impairment of long-term assetsWith respect to fixed assets, construction in progress, intangible assets, productive biological assets andinvestment properties measured using cost model, long-term equity investments, right-of-use assets, goodwill andother assets (except for inventories, deferred income tax assets and financial assets), the company determines at thebalance sheet date whether there is any indication of impairment based on internal and external information.The company conducts impairment tests for assets for which there is indication of impairment, and estimates therecoverable amount of the asset. In addition, regardless of indication of impairment, the company conductsimpairment costs for goodwill formed from business combinations, intangible assets not yet reaching the usable stateand intangible assets with uncertain service life at least at the end of each year. For goodwill, the company allocatesthe book value of goodwill according to how related asset groups or combination of asset groups can benefit fromsynergistic effects of business combinations, on which basis it conducts goodwill impairment tests.The recoverable amount is the fair value of an asset (or asset group or combination of asset groups, the samebelow) minus the disposal costs and the present value of anticipated future cash flow from the asset, whichever ishigher. An asset group comprises assets related to creation of cash inflows and is the determinable smallest assetFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.280portfolio, cash inflows from which are basically independent from other assets or asset groups. Fair value of the assetis determined by price of a sales agreement in fair trade; if there is no sales agreement but an active market of assets,the fair value is determined by the buyer’s offer; if there is no sales agreement or active market of assets, the fairvalue is estimated on the basis of the best information available. Disposal expenses of the asset include legal costs,related taxes and handling costs related to asset disposal and direct costs incurred to bring the asset to the marketablestate. The present value of estimated future cash flows from an asset is determined according to the estimated futurecash flows generated during the continuous use of the asset and at the time of final disposal as discounted using anappropriate pretax discounting rate.If the results of impairment test indicate that the recoverable amount of an asset is lower than its book value, theasset impairment provision is made and charged to the current profit or loss. The impairment loss related to an assetgroup or combination of asset groups is first offset against the book value of goodwill allocated to such asset group orcombination of asset groups before being offset against the book value of other assets pro rata according to thepercentage of book value of other assets in the asset group or combination of asset groups other than goodwill, but thebook value of various assets after offsetting may not be lower than the highest of the fair value of such asset minusdisposal costs, the present value of estimated future cash flows from such asset and zero.The aforesaid asset impairment loss, once recognized, will not be reversed in the subsequent accounting periods.25. Long-term deferred expensesLong-term deferred expenses refer to various costs that have occurred and have an amortization period of morethan 1 year (exclusive) The long-term deferred expenses are recorded at the actually incurred amount and areamortized averagely over the period of benefit using the straight-line method, and presented at the net amount ofactual expenditure minus accumulated amortization. If a long-term unamortized expense item cannot benefit thesubsequent accounting periods, the amortized value of such item that has not yet been amortized is transferred in fullto the current profit or loss.26. Fair value measurementUnless otherwise stated, the company measures fair value according to the following principles: fair value refersto the price to be received for sale of an asset or to be paid for transfer of a liability in orderly transactions occurringbetween market participants at the date of measurement. When estimating fair value, the company considerscharacteristics considered by market participants when pricing related assets or liabilities at the date of measurement(including the condition and location of asset and restrictions on sale or use of asset, etc), and employs valuationtechniques that are applicable under current circumstances and are supported by sufficient available data and otherinformation. The valuation techniques used mainly include market approach, income approach and cost approach.27. Employee compensation(1) Accounting treatment method for short-term compensationEmployee compensation refers to various forms of remuneration or compensation given by the company forobtaining services provided by employees or for termination of labor relations. Employee compensation includesshort-term compensation, post-employment benefits, termination benefits and other long-term employee benefits. Thebenefits provided by the company to spouses, children, dependents, dependents of deceased employees and otherbeneficiaries of employees are also employee compensation. Short-term compensation comprises wage, bonus,Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.281allowance and subsidy, employee benefits, medical insurance costs, maternity insurance costs, industrial injuryinsurance costs, housing fund, trade union outlays, employee education expenditure and non-monetary benefits, etc.The company recognizes short-term employee compensation actually incurred as liabilities during the accountingperiod in which the employees provide services to the company and charges it to the current profit or loss or relatedasset cost. Of which, the non-monetary benefits are measured at fair value.(2) Accounting treatment method for post-employment benefitsPost-employment benefit plans consist of defined contribution plan and defined benefit plan, of which thedefined contribution plan is a post-employment benefit plan under which the company no longer assumes any furtherpayment obligations after contributing fixed fees to independent funds; the defined benefit plan is post-employmentbenefit plan other than the defined contribution plan.①Defined contribution planThe company’s defined contribution plan mainly comprises basic endowment insurance, unemploymentinsurance and etc, and recognizes them as liabilities at the payable amount during the accounting period in which theemployees provide services to the company and charges them to related asset costs or the current profit or loss.②Defined benefit planBased on the expected accumulated benefit unit method, the company estimates related demographic variablesand financial variables using unbiased and mutually consistent actuarial assumptions, and measures obligationsresulting from the defined benefit plan, before recognizing the present value after discounting as a defined benefitplan liability. The company attributes the benefit obligations arising from defined benefit plan to the period in whichemployees provide services, and charges the interest expenses that are service cost and defined benefit plan liabilitiesto the current profit or loss or related asset cost; charges the changes arising from the defined benefit plan liabilitiesre-measured to other comprehensive income, which are not allowed to reverse to profit or loss in subsequentaccounting periods, but these amounts recognized in other comprehensive income can be transferred to the extent ofequities.(3) Accounting treatment method for termination benefitsIf the employment relationship with any employee is terminated before the expiration of the employmentcontract or a suggestion concerning compensation is provided to encourage the employees to voluntarily accept thejob displacement, the liabilities resulting from compensation for termination of employment relationship withemployees are recognized and charged to the current profit or loss, when the company can not unilaterally revoke thetermination benefits provided due to the employment relationship termination plan or the separation suggestion or thecompany recognizes the costs related to the reorganization involving payment of termination benefits, whicheveroccurs earlier.(4) Accounting treatment method for other long-term employee benefitsOther long-term employee benefits provided by the company to its employees are treated for accountingpurposes according to the defined contribution plan if they comply with the defined contribution plan. Otherwise,such benefits are treated for accounting purposes according to the defined benefit plan.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.28228. Lease liabilitiesApart from short-term lease and low-value asset lease, the company at the commencement date of lease terminitially measures lease liabilities at the present value of the lease payment not yet paid on such date, using theinterest rate implicit in lease as the discounting rate. When it’s impossible to determine the interest rate implicit inlease, the incremental loan interest rate is used as the discounting rate. The company calculates the interest expenseon lease liabilities in various periods of the lease term at the fixed cyclic interest rate and charges them to the currentprofit or loss or related asset cost. Variable lease payments not included in the measurement of lease liabilities arecharged to current profit or loss or related asset cost when actually incurred. After the commencement date of leaseterm, the company re-measures the lease liabilities at the present value of changed lease payments in the followingcases:① the payable amount estimated based on residual value of guarantee changes;② the index or ratio used to determine the lease payment changes;③ the company’s results of assessment of option to purchase, option to renew lease or option to terminate leasechange, or the actual exercise of option to renew or option to terminate lease is inconsistent with the originalassessment results. When re-measuring the lease liabilities, the company adjusts the book value of right-of-use assetsaccordingly. When the book value of a right-of-use asset has been adjusted downward to zero but the lease liabilitiesstill need to be further adjusted downward, the company charges the remaining amount to the current profit or loss.29. Estimated liabilitiesEstimated liabilities are liabilities that might result from contingencies, including anticipated liabilities resultingfrom provision of external guarantees, pending litigations, product quality assurance and reorganization obligation,etc.(1) Criteria for recognition of estimated liabilitiesExcept for contingent liabilities assumed in business combination not under common control, if an obligationincurred by the company is related to contingencies and meets the following conditions at the same time, thecompany recognizes such obligation as estimated liability:① such obligation is a present obligation of the company;② the performance of such obligation is highly likely to result in outflow of economic benefits from thecompany;③ the amount of such obligation can be reliably measured.(2) Measurement method for estimated liabilitiesEstimated liabilities are initially measured at the best estimate of expenditure required to perform the relatedpresent obligations. Where the impact of the time value of money is significant, the estimated liability is determinedat an amount after discounting the estimated future cash flows. When determining the best estimate, the companyconsiders the risks related to contingencies, uncertainty and time value of currency and other factors. Where there is acontinuous range for the required expenditure and the possibility of occurrence of various results within such range isthe same, the best estimate is determined at the median of such range; in other cases, the best estimate is treated asfollows:① determined by the most possible incurred amount if contingencies involve a single item;② determined by calculating according to various possible results and related probabilities if contingenciesinvolve multiple items.The company, at the balance sheet date, reviews book value of estimated liabilities and adjusts such book valueaccording got the current best estimate.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.28330. Share-based paymentThe share-based payment is a transaction in which the company grants equity instruments or assumes liabilitiesdetermined based on equity instruments in exchange for services provided by its employees or other parties.(1) Categories of share-based paymentsShare-based payment consists of share-based payment settled in equities and share-based payment settled in cash.(2) Related accounting treatment for implantation of share-based payment plan①Share-based payment settled in equitiesWhen the company exchanges shares or other equity instruments with services provided by employees, they aremeasured at the fair value of equity instruments granted to employees at the grant date. For share-based paymenttransactions in which immediate exercise after grant is possible, the company charges them to the related costs orexpenses at the fair value of equity instruments at the grant date and increases the capital reserve accordingly. Forshare-based payment transactions in which exercise can be made only after completing the services or meeting thespecified performance conditions within the vesting period after grant, the company at each balance sheet date withinthe vesting period makes the best estimate of the number of exercisable equity instruments based on the latestacquired subsequent information such as changes in number of exercising employees, on which basis to charge thecurrently acquired services to related costs or expenses at fair value of equity instruments at the grant date, andcharges them to capital reserve accordingly. When the company receives services but without settlement obligation,and what’s granted to employees are equity instruments of the ultimate controlling party of the company orsubsidiaries controlled by it other than the company, the company treats such share-based payment plan as share-based payment settled in equities.②Share-based payment settled in cashFor share-based payment settled in cash, when the company delivers cash or other assets determined based onshares or other equity instruments in exchange for services provided by employees, the price of services received inexchange is measured at the fair value of liabilities determined based on the related equity instruments. For share-based payment transactions in which immediate exercise after grant is possible, the company charges them to therelated costs or expenses at the fair value of liabilities assumed at the grant date and increases the liabilitiesaccordingly. For share-based payment transactions in which exercise can be made only after completing the servicesor meeting the specified performance conditions within the vesting period after grant, the company at each balancesheet date within the vesting period charges the currently acquired services to costs or expenses at the amount of fairvalue of liabilities assumed based on the best estimate of the exercisable circumstance and charges them to liabilitiesaccordingly. At each balance sheet date and settlement date before settlement of related liabilities, the company re-measures the fair value of liabilities and charges its changes to profit or loss. When the company receives servicesand has the settlement obligation, and what’s granted to employees are equity instruments of the ultimate controllingparty of the company or subsidiaries controlled by it other than the company, the company treats such share-basedpayment plan as share-based payment settled in cash.31. Unearned premium reserveUnearned premium reserve refers to a reserve accrued by financing guarantee companies for financing liabilitiesnot yet terminated. The financing guarantee company subordinate to the company accrues unearned premium reserveat 50% of the guarantee fee revenue of the year in the period of recognition of premium revenue. Financing guaranteecompanies at the balance sheet date recalculate and determine the difference between the amount of unearnedpremium reserve and the balance of accrued unearned premium reserve according to the aforesaid provisions andadjust the balance of unearned premium reserve.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.28432. Guarantee indemnity reserveGuarantee indemnity reserve refers to a reserve accrued by financing guarantee company for its liability to payindemnities to beneficiaries when the guaranteed person is unable to repay debts when due under a financingguarantee contract not yet terminated. The financing guarantee company subordinate to the company accruesguarantee indemnity reserve at 1% of the balance of guarantee liability at the end of the year in the period ofrecognition of financing guarantee contract revenue. When the accumulated amount of guarantee indemnity reservereaches 10% of the balance of guarantee liability in the year, the reserve accrues at difference while recognizing theaccrued guarantee indemnity reserve as liabilities. The accumulation of guarantee indemnity reserve is based on thefinancial condition, production or living environment of the guaranteed person to conduct adequacy test of thebalance of accrued guarantee indemnity reserve, with additional accrual to be made at the difference in case ofinsufficiency, but the guarantee indemnity reserve is not adjusted if the balance of related insurance liability reserverecognized through recalculation under the financing guarantee contract is lower than the balance of related insuranceliability reserve already recognized at the date of adequacy test.33. RevenueAccounting policies adopted for revenue recognition and measurementAccounting policies adopted for revenue recognition and measurement. Revenue refers to the total inflows ofeconomic benefits formed by the company in its day-to-day activities that would result in increases in shareholderequity and are unrelated to capital invested by shareholders.(1) General principles for revenue recognitionThe company recognizes its revenue when having performed its performance obligations in contract, i.e., thecustomer acquires the control of related goods or services.Where a contract contains two or more performance obligations, the company allocates the transaction price toeach individual performance obligation according to the relative proportions of separate selling prices of goods orservices as promised by each individual performance obligation at the contract commencement date and thenmeasures the revenue at the transaction price allocated to each individual performance obligation.The transaction price is the amount of consideration that the company expects to have the right to charge due totransfer of goods or services to its customers, excluding amounts charged on behalf of third parties. The transactionprices recognized by the company do not exceed the amounts with respect to which the accumulated recognizedrevenue is extremely likely not to be significantly reversed at the time of elimination of related uncertainties. Theamounts expected to be returned to customers are treated as liabilities for return of goods and are not charged to thetransaction prices. Where a contract contains a significant financing component, the company determines thetransaction price at the payable amount that the customer would pay in cash should the customer have acquired thecontrol of the goods or service, with the difference between such transaction price and the contract consideration tobe amortized using the effective interest rate method during the term of the contract. At the commencement date of acontract, if it is estimated that the interval between the customer’s acquisition of control of goods or services and thecustomer’s payment of price is no more than one year, significant financing component existing in the contract is notconsidered.When meeting one of the following conditions, a performance obligation is one that should be performed withina particular period, otherwise it is a performance obligation that should be performed at a particular point in time:① the customer has acquired and consumed the economic benefits brought about by performance of thecompany when the company performs the contract;② the customer can control the goods in progress during the performance of the company;Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.285③ the goods produced during the performance of the company have irreplaceable purposes and the company hasthe right to charge amounts for the portion of performance completed so far in cumulative terms within the entireterm of contract.For a performance obligation performed within a particular of period of time, the company recognizes revenueaccording to the performance progress within such period of time. When the performance progress is uncertain,provided that the costs incurred are expected to be compensated, the revenue is recognized at the amount of costsalready incurred until the performance progress can be reasonably determined.For a performance obligation performed at a particular time in time, the company recognizes revenue at the pointin time when the customer acquires the control of related goods or services. When judging whether a customer hasacquired the control of goods or services, the company would consider the following indications:① the company has the present right to collect payments with respect to such goods or services;② the company has transferred the physical objects of such goods to the customer;③ this company has transferred the legal title to such goods or the substantial risk and reward on such legal titleto the customer;④ the customer has accepted such goods or services, etc.(2) Specific methods of the company for revenue recognitionProduction and sale of feeds, livestock and poultry and foods are the main business of the company, and thecompany’s performance obligation in such sales businesses is performance obligation performed at a particular pointin time. Where the company has received the payment for goods (cash sale or advances on sales) or expects torecover the payment for goods (credit sales) and delivered the goods to a customer in such manner as specified incontract, which have been signed off by the customer, the customer acquires the control of related goods and thecompany recognizes the revenue at the same time.Adoption of different business models in the same type of business results in difference in accounting policies for revenuerecognition.34. Government subsidy(1) Definition of government subsidyGovernment subsidies refer to the monetary and non-momentary assets received by the company fromgovernment without compensation, excluding capital invested by government as an investor.(2) Types and classification criteria of government subsidyGovernment subsidy consists of asset-related government subsidies and income-related government subsidies.The company defines the government subsidies acquired by it and used for acquisition or otherwise formation oflong-term assets as asset-related; other government subsidies acquired by the company otherwise related to assets aredefined as income-related. For comprehensive project government subsidies containing both asset-related parts andincome-related parts, they are treated respectively by distinguishing different parts; where it is difficult to distinguish,they are classified in entirety as income-related government subsidies.(3) Recognition of government subsidyA government subsidy is recognized when the government subsidy can be received and the conditions attachedto the government subsidy can be met. A government subsidy is measured at the amount actually received orreceivable if it is a monetary asset. A government subsidy that is a non-monetary asset is measured at fair value.Asset-related government subsidies are recognized by the company as deferred income and charged to other incomein a reasonable and systematic manner over the service life of the related asset by phases; where related assets areFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.286sold, transferred, scrapped or destroyed before the end of service life, the balance of related deferred income not yetallocated is transferred to the current profit or loss from asset disposal. Income-related government subsidies, if usedfor compensating relevant expenses and losses of the company in future periods, are recognized as deferred incomeand are charged to profit or loss in the period when relevant costs and expenses or losses are recognized; otherwise,they are charged directly to profit or loss.The company charges to other income the government subsidies received in connection with the daily activitiesof the company according to substance of economic transaction, and charges to non-business revenue the governmentsubsidies unrelated to daily activities of the company.The policy-related preferential subsidized loans acquired by the company are treated for accounting purposes bydistinguishing between fiscal authorities appropriating the proceeds of subsidized loans to the lending bank and thefiscal authorities appropriating the proceeds of subsidized loans directly to the company. Where the fiscal authoritiesappropriate the proceeds of subsidized loans to the lending bank for provision of loans to the company at a policy-related preferential interest rate, the company records the loans at the loan amount actually received and calculatesthe related borrowing costs according to the loan principal and such policy-related preferential interest rate. Wherethe fiscal authorities appropriate the proceeds of subsidized loans directly to the company, the company charges thecorresponding interest subsidy against the related borrowing costs.35. Deferred income tax assets/ deferred income tax liabilitiesBased on the difference between the carrying value of assets and liabilities at the balance sheet date and the taxbasis, and the difference between the carrying value of items that are not recognized as assets and liabilities butwhose tax basis can be determined in accordance with the provisions of the tax law, the company uses the balancesheet liability method to measure deferred tax assets or deferred tax liabilities at the applicable tax rates during theperiod during which the asset is expected to be recovered or the liability is settled.(1) Recognition of deferred income tax assetsThe company recognizes related deferred income tax assets to the limit of the taxable income that is highlylikely to be received by the company in future period to deduct the deductible temporary difference; but if suchtransaction is not business combination and the transaction neither affects the accounting profits nor affects thetaxable income (or deductible loss) when incurred, the related deferred income tax assets are not recognized. Forrelated deductible temporary difference resulting from the investments of the company in its subsidiaries, affiliatesand joint ventures, if such temporary difference is highly likely not to be reversed in foreseeable future and thetaxable income is highly likely not to be obtained to deduct the deductible temporary difference in the future, thecompany recognizes the corresponding deferred income tax assets. At the balance sheet date, the company reviewsthe book value of deferred income tax assets. If it is highly likely not to obtain taxable income sufficient to deduct thebenefits of deferred income tax assets in the future, the book value of deferred income tax assets is written down. Theamount written down is reversed when sufficient taxable income is highly likely to be obtained. The deductible lossesand tax credit which can be carried forward in future years are treated as if they are deductible temporary difference.The corresponding deferred income tax assets are recognized to the extent of the amount of future income taxablewhich is highly likely to be obtained to deduct the deductible losses and tax credit.(2) Recognition of deferred income tax liabilitiesApart from initial recognition of goodwill or taxable temporary difference arising in a transaction that is notbusiness combination and affects neither accounting profits nor taxable income (or deductible loss) when occurring,the company recognizes deferred income tax liabilities arising from all taxable temporary differences. For relatedtaxable temporary difference resulting from the investments of the company in its subsidiaries, affiliates and jointventures, if the company can control the time to reverse the temporary difference and the temporary difference isFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.287highly likely not to be reversed in foreseeable future, the company does not recognize related deferred income taxliabilities.(3) Income tax expenseThe income tax expense consists of current income tax and deferred income tax. The current income tax is theexpected payable tax calculated based on the taxable income of this year at the tax rate stipulated by tax laws. Thecompany charges current income taxes and deferred income tax to the current profit or loss, except for the income taxarising from business combinations and transactions or events directly charged to ownership interest (including othercomprehensive income).(4) Offset of income taxAt the balance sheet date, deferred income tax assets and deferred income tax liabilities are presented at a netamount after offset when the following conditions are met at the same time:① the taxpayer entity has the legal right to netting of current income tax assets and current income tax liabilities;② deferred income tax assets and deferred income tax liabilities are related to income tax imposed by the sametax authority on the same taxpayer entity or related to different taxpayer entities but the taxpayer entities involvedintend to conduct netting settlement of current income tax assets and liabilities or acquire assets and repay liabilitiesat the same time within each period in the future that has reversal of important deferred income tax assets andliabilities.36. Lease(1) Identification and splitting of leaseAt the commencement date of a contract, the company assesses whether the contract is a lease or contains lease.A contract is or contains a lease if a party to a contract transfers its right to control the use of one or more identifiedassets for a period of time in exchange for consideration. To determine whether a contract assigns the right to controlthe use of identified assets within a certain period, the company performs the following assessments:①Whether the contract involves use of identified assets. An identified asset may be designated expressly incontract or designated implicitly when the asset is available to the customer, and such asset can be distinguishedphysically or if a part of capacity or other part of the asset cannot be physically distinguished but substantiallyrepresents the total capacity of the asset, thus allowing the customer to acquire almost all economic benefits arisingfrom use of the asset. If the supplier of the asset has the right to substantially replace the asset during the entire periodof use, such asset is not an identified asset;②Whether the lessee has the right to acquire almost all economic benefits arising from use of the asset duringthe period of use;③Whether the lessee has the right to direct the use of the identified asset during such period of use.Where a contract contains multiple separate leases, the lessee and the lessor split the contract up and performaccounting treatment of each individual lease respectively. Where a contract contains lease and non-lease components,the lessee and the lessor split the lease component from none-lease component. When splitting the lease componentand non-lease component contained in a contract, the lessee allocates the consideration for contract according to therelative proportions of the sum of separate prices of lease components and the sum of separate prices of non-leasecomponents; the lessor allocates the consideration for contract according to the provisions of the accounting policydescribed in “Note V. (33) Revenue” regarding allocation of transaction price.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.288(2) Assessment of lease termLease term refers to a period in which the company has the right to use leased assets and which is irrevocable.Where the company has the option to renew, i.e., the right to choose to renew the lease of the asset, and reasonablydetermines that it will exercise such option, the lease term also includes the period covered by the option to renew thelease. Where the company has the option to terminate a lease, i.e., the right to choose to terminate the lease of theasset, and reasonably determines that it will not exercise such option, the lease term includes the period covered bythe option to terminate lease. Where a significant event or change occurs within the scope controllable by thecompany, and affects whether the company reasonably determines to exercise the applicable option, the companyreassesses whether it reasonably determine to exercise the option to renew, option to purchase or not to exercise theoption to terminate the lease.(3) The company as a lesseeThe general accounting treatment where the company acts as a lessee is detailed in “Note V. (21) Right-of-useassets” and “Note V. (28) Lease liabilities”.①Lease changeLease change refers to any change to lease scope, lease consideration or lease term outside the originalcontractual terms, including addition or termination of the right to use one or more leased assets, and extension orshortening of contractually specified lease term, etc.When a lease changes and meets the following conditions at the same time, the company treats such leasechange as one separate lease for accounting purposes:A. The lease change expands the lease scope by adding the right to use one or more leased assets;B. The increased consideration is equivalent to the amount of separate price of the expanded portion of the leasescope as adjusted according to the circumstances of the contract. Where a lease change is not treated as one separatelease for accounting purposes, at the effective date of lease change, the company re-determines the lease term anddiscounts the changed lease payments at a revised discounting rate to re-measure the lease liabilities. Whencalculating the present value of the changed lease payment, the company uses the interest rate implicit in lease overthe remaining lease period as the discounting rate; where the interest rate implicit in lease over the remaining leaseperiod cannot be determined, the incremental loan interest rate of the company as at the effective date of lease changeis used the discounting rate.With respect to the effects of the aforesaid adjustment to lease liabilities, the company performs accountingtreatment by distinguishing the following circumstances:A. Where the lease change results in narrowed scope of lease or shortened lease term, the company adjusts thebook value of right-of-use asset downward to reflect the partial or total termination of the lease. The companyincludes the relevant gains or losses on the partial or total termination of the lease into the current profit or loss.B. As for other lease changes, the company adjusts the book value of right-of-use asset accordingly.②Short-term lease and low-value asset leaseWhere the company has chosen not to recognize right-of-use assets or lease liabilities for short-term lease (anylease with a term of no more than 12 months) and low-value asset lease at the commencement date of lease, they arecharged to the related asset cost or current profit or loss using the straight-line method over each period of the leaseterm.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.289(4) As a lessorA lease that substantially transfers almost all risk and reward related to the ownership of a leased asset at thecommencement date of lease is financing lease, apart from which all leases are operating leases.①As a lessor under financing leaseAt the commencement date of a lease, the company recognizes financing lease payments receivable with respectto financing lease and de-recognizes financing lease assets. When initially measuring the financing lease paymentsreceivable, the company treats the net lease investment as the recorded value of financing lease payment receivable.The net lease investment is the sum of the unsecured residual value and the present value of the lease receipts not yetreceived at the commencement date of the lease that is discounted at the interest rate implicit in lease.The company calculates and recognizes interest revenue on each period of the lease term at the fixed cyclicinterest rate. The variable lease payments acquired by the company and not included in the measurement of net leaseinvestment are charged to the current profit or loss when actually incurred.②As a lessor under operating leaseThe rental revenue from operating lease is recognized as current profit or loss using the straight-line methodover each period of the lease term, while contingent rental is charged to the current profit or loss when actuallyincurred.(5) Sale-and-leaseback transactionThe company determines whether the asset transfer in a sale-and-leaseback transaction constitutes a sale throughassessment according to “Note V. (33) Revenue”.①The company acts as a lesseeWhere the asset transfer in the sale-and-leaseback transaction constitutes a sale, the company, as the lessee,measures the right-of-use asset formed from the sale-and-leaseback at the portion of the book value of the originalasset related to the right of use acquired through leaseback, and recognizes related gains or losses only with respect tothe rights transferred to the lessor; where the asset transfer in the sale-and-leaseback transaction does not constitute asale, the company, as the lessee, continues recognizing asset being transferred while recognizing a financial liabilityequivalent to the revenue from the transfer, and performs accounting treatment of the financial liability according to“Note V. (10) Financial instruments”.②The company acts as a lessorWhere the asset transfer in the sale-and-leaseback transaction constitutes a sale, the company, as the lessor,performs accounting treatment for the asset purchase and treats the asset renting for accounting purposes according tothe aforesaid provisions; where the asset transfer in the sale-and-leaseback transaction does not constitute a sale, thecompany, as the lessor, does not recognize the asset transferred, but recognizes a financial asset equivalent to therevenue from the transfer, and performs accounting treatment of the financial asset according to “Note V. (10)Financial instruments”.37. Changes to important accounting policies and accounting estimates(1) Important accounting policy changes□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.290(2) Changes to important accounting estimates□applicablenot applicable(3) Adjustment of relevant items of the financial statements at the beginning of the year upon the first implementation ofthe new accounting standards from 2023□applicablenot applicable38. Important accounting judgments and estimatesDue to inherent uncertainties of business activities and changes in external factors, the company needs to makejudgments, estimates and assumptions accounting events that cannot be accurately measured in accounting treatment,which are based on historical experience of the company’s management and are made taking into account otherrelated factors. However, the actual results arising from uncertainties of accounting events might differ from thecurrent judgments and estimates made by the company’s management and thereby might result in materialadjustments to the book values of assets or liabilities affected in the future. The company conducts periodic reviewand evaluation of the aforesaid adjustments, estimates and assumptions on the basis of going concern and conductsaccounting treatment according to enterprise accounting standards and related provisions. The important fields inwhich the company makes judgments, estimates and assumptions about amounts of financial statement items are asfollows:(1) Expected credit loss of receivablesBased on the reasonable and warranted information available at the balance sheet date and historical credit lossprofile and considering forward-looking information, the company accrues expected credit loss for receivables. Thedetermination of expected credit loss involves management’s estimates and judgments and if there is any differencebetween results of re-estimation and existing estimates, the difference will affect the profits and book value ofreceivables during the period of estimate change.(2) Inventory falling price reserveThe company measures inventories at the lower of cost and net realizable value at the balance sheet date, andinventory impairment is based on assessment of the marketability and net realizable value of inventories.Determination of inventory impairment requires the company to obtain conclusive evidence for net realizable valeand to make judgments and estimates taking into account the purpose of holding inventories and other factors. Thedifference between actual results and original reasonable expectations will affect the book value of inventories andaccrual or reversal of inventory revaluation reserve during the period in which estimates are changed.(3) Impairment of other long-term assetsThe company conducts impairment tests for long-term assets such as long-term equity investments, fixed assets,construction in progress, productive biological assets, intangible assets and right-of-use assets when there is anyindication of impairment; goodwill is subjected to impairment test each year, regardless of whether there is anyindication of impairment. When the book value of an asset or asset group is higher than its recoverable amount (thehigher of the net amount of fair value minus disposal costs and the present value of estimated future cash flows),impairment loss is recognized. The net amount of fair value minus disposal costs is determined by reference to thesales agreement price of similar assets in arm’s length transaction or observable market price minus the incrementalcost directly attributable to such asset disposal; the present value of estimated future cash flows require estimation ofdata about output, selling price, related operating costs and other aspects of such asset or asset group that involveFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.291future cash flows. The difference between actual results and original reasonable expectations will affect the bookvalue of long-term assets during the period in which estimates are changed.(4) Depreciation and amortizationThe company depreciates or amortizes fixed assets, productive biological assets, right-of-use assets and part ofintangible assets using the straight-line method over the economic service life, with the service life determined basedon historical experience, contractual provisions and asset performance parameters, taking into account the expectedtechnological updating, etc. If the previous reasonable estimates change in a manner that has significant effects,adjustments are made to depreciation and amortization expenses in the future periods.(5) Tax matters such as income taxIn the normal course of business operations, fiscal and tax treatment of part of tax-related transactions or eventsby the company face considerable uncertainties due to involvement of projections and judgments, and might affectthe financial statements in future accounting periods; mainly including:①The company pays enterprise income tax at home and in many foreign countries, whether part of items can bepresented and disbursed before tax requires approval and confirmation of competent tax authorities. If the finaldeterminations of these tax matters differ from the original projections and judgments, such difference will affect thecurrent income tax expense on them in the period of final determination.②The company can carry over the deductible losses to future years and recognizes the corresponding deferredincome tax assets to the limit of future taxable income that is highly likely to be available to deduct the deductiblelosses. The company needs to exercise numerous judgments in order to reasonably estimate the period and amount oftaxable income arising in the future. If the market quotations of future business units or profitability of individualtaxpaying entity are significantly changed from the current projection results, such difference will affect the deferredincome tax expense in future periods.③Due to the special nature of tax policies related to deduction of input tax on agricultural products and the lowgross margins of the business unit of primary processing of agricultural products at present, the accumulated amountof excess VAT paid by subsidiaries of the company engaged in slaughter and primary processing of meat foods isrelatively large. If tax policies related to deduction of input tax on agricultural products substantially change in thefuture, it might materially affect the payable taxes and profit or loss in future periods.VI. Taxes1. Main taxes and tax ratesTax category Tax base Tax rateVATTaxable sales 13%-3%Urban maintenance and construction tax Turnover tax actually paid 7%,5%,1%Enterprise income tax Taxable income 30%-0.6%Remarks on disclosure where there are different taxpayers subject to different enterprise income tax ratesName of taxpayer Income tax rateHong Kong Dongxian Co., Ltd.16.5%New Hope Liuhe International Trade (HK) Co., Ltd.16.5%New Hope Singapore Pte. Ltd.5%,8%,17% (note 1)New Hope Singapore Premix Pte. Ltd.17%NHCSInvestment Pte. Ltd.17%New Hope Singapore Biotechnology Pte. Ltd.17%New Hope Asia Investment Pte. Ltd.17%New Hope International Holdings (Pte.) Ltd.17%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.292New Hope Global Investment Pte. Ltd.17%New Hope Ho Chi Minh City Co., Ltd.15%,20% (note 1)New Hope Binh Dinh Co., Ltd.20%New Hope Hanoi LLC 10%,20% (note 1)New Hope Hanoi LLCHaiphong Branch 10%,20% (note 1)New Hope Hanoi LLCBac Giang Branch 20%New Hope Hanoi LLCThanh Hoa Branch 20%New Hope Dong Thap Aquatic Feed Co., Ltd. Tax free,10%,20% (note 1)Than Hoa New Hope Livestock Services Co., Ltd.10%,20% (note 1)New Hope Binh Dinh Livestock Co., Ltd.10%,20% (note 1)New Hope Binh Phuoc Livestock Co., Ltd.7.5%,15% (note 1)New Hope Vinh Long Co., Ltd.5% (note 1)New Hope Vietnam Technological Livestock Services Co.,Ltd.10%,20% (note 1)Sichuan New Hope Agriculture (Cambodia) Co., Ltd.20% (note 1)Myanmar New Hope Agro-Technology Co., Ltd. Tax free (note 1)New Hope Mandalay Co., Ltd. Tax free (note 1)New Hope Laos Co., Ltd.8% (note 1)PTNew Hope Medan 22%PTNew Hope Farms Indonesia 22%PTNew Hope Farms Indonesia Jawa Timur Branch 22%PTNew Hope Jawa Timur 22%PTNew Hope Jawa Timur Mojokerto Branch 22%PTNew Hope Indonesia 22%PTNew Hope Indonesia Jawa Tengah Branch 22%PTNew Hope Indonesia Cirebon Branch 22%PTNew Hope Indonesia Lampung Branch 22%PTNew Hope Indonesia Makassar 22%PTNew Hope Poultry Trade Indonesia 22%PTNew Hope Food Indonesia 22%PTNew Hope Aqua Feed Indonesia 22%PTCorn Drying Indonesia 22%PTCorn Drying Indonesia Lampung Branch 22%New Hope Tarlac Agriculture Inc.1%,25% (note 1)New Hope Isabela Agriculture Inc.1%,25% (note 1)New Hope Central Luzon Agriculture Inc.1%,25% (note 1)New Hope Pampanga Agriculture Inc.1%,25% (note 1)New Hope Bulacan Agriculture Inc.1%,25% (note 1)New Hope Philippines Animal Healthcarae Services Inc.1%,20% (note 1)New Hope Davao Agriculture Ltd. Tax free (note 1)New Hope Philippines Livestock Inc. Tax free (note 1)New Hope Farms Bangladesh Ltd.0.6% (note 1)New Hope Bangladesh Ltd.3%,10%,15% (note 1)New Hope Agrotech Bangladesh Ltd.3%,10%,15% (note 1)Xinhe International Trade Co., Ltd.30%New Hope Animal Nutrition Bangladesh Ltd.3%,10%,15% (note 1)New Hope Lanka (Pvt) Limited 20%New Hope Kolkata Animal Feed Private Ltd.30%New Hope South Africa Ltd.27%,28%New Hope Egypt Ltd.22.5%New Hope Egypt Aquatic Technology Ltd.22.5%New Hope Agriculture (Egypt) Ltd.22.5%New Hope Alexander Ltd.22.5%New Hope Egypt Poultry Ltd. Tax free (note 1)New Hope Agro-technology Nigeria Ltd.30%Myanmar New Hope Farms Co., Ltd.22%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.293New Hope Turkey Feed and Farming Food Import & Exportand Industry Ltd.22%Xinhe Myanmar Agro-technology Co., Ltd.22%2. Tax preferences(I) VAT(1) According to the Proclamation of the Ministry of Finance, the State Administration of Taxation and General Administration ofCustoms on Policies Deepening the VATReform (Proclamation of MoF, SAT and GAC 2019 No.39), as of April 1,2019, the taxrate applicable to production and sale of feed products by feed manufacturers of the company has been adjusted to 9%. In addition,according to the Notice of the Ministry of Finance and the State Administration of Taxation on Issues regarding Exemption ofValue-added Tax on Feed Products (C.S.[2001]No.121), feed products produced and sold by feed manufacturers that meet itsprovisions are exempted from VAT. Taxable goods sold by feed manufacturers other than feeds are subject to a VAT rate of 3%(small taxpayers) or 9% or13% (general taxpayers).(2) The preliminarily processed products produced by domestic slaughtering and meat packing businesses of the Company,according to the Proclamation of the Ministry of Finance, the State Administration of Taxation and General Administration ofCustoms on Policies Deepening the VATReform (Proclamation of MoF, SAT and GAC 2019 No.39), are subject to a tax rate of9% as of April 1,2019, and the VAT rate applicable to delis and deep processed products is 13%.(3) The domestic farming businesses of the company are exempted from VAT according to Article 15 “Self-made agriculturalproducts sold by agricultural producers are exempted from VAT” of the Interim Regulations of the People’s Republic of China onValue-added Tax.(4) The feed products and fresh meat and egg products sold by domestic trading businesses of the company are exempted fromVAT, while other products are subject to a VAT rate of 13% or 9% instead as of April 1,2019 according to the Proclamation ofthe Ministry of Finance, the State Administration of Taxation and General Administration of Customs on Policies Deepening theVATReform (Proclamation of MoF, SAT and GAC 2019 No.39).(5) Subsidiaries Sichuan Xinle Plastics Co., Ltd, Zibo Huide Feed Machinery Co., Ltd. and Chengdu Fenglan Technology Co., Ltd.are subject to a VAT rate of 13% as of April 1,2019 according to the Proclamation of the Ministry of Finance, the StateAdministration of Taxation and General Administration of Customs on Policies Deepening the VATReform (Proclamation of MoF,SAT and GAC 2019 No.39).According to the Proclamation of the Ministry of Finance and the State Administration of Taxation on Exempting Value-AddedTaxes for Small-scale VATTaxpayers (MoF & SATProclamation 2023 No.1), from January 1,2023 to December 31,2023,small-scale VAT taxpayers with monthly sales of less than 100,000 yuan (inclusive) are exempt from value-added tax; the taxablesales income of small-scale VAT taxpayers subject to a rate of 3% is subject to value-added tax at a reduced rate of 1%; and theVAT pre-paid items subject to a 3% pre-collection rate are subject to 1% advance payment of VAT.(7) Among overseas subsidiaries, the sales of feed products and sales of self-produced agricultural products of breeding businessby subsidiaries operating in Vietnam are exempted from VAT, and the VAT rate for the disposal of waste materials and fixedassets is 10%; subsidiaries in Sri Lankan are subject to a VAT rate of 15%; GST consumption tax (VAT) at 7% on goods andservices sold locally by New Hope Singapore Pte. Ltd. and New Hope Singapore Premix Pte. Ltd.; feed sales exempted from VAT,and VAT rate at 15% for other taxable items of New Hope South Africa Limited; feed products sold by subsidiaries operating inIndonesia, Bangladesh, the Philippines, Cambodia, Egypt and other countries are exempted from VAT.(II) Urban maintenance and construction tax, and education surchargeFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.294The company and its domestic subsidiaries shall follow the following tax rate: (1) urban construction tax shall be calculated andpaid at 7%,5% or 1% of the turnover tax payable by region; (2) education surcharge shall be paid at 3% of the turnover taxpayable, and local education surcharge shall be paid at 2% of the turnover tax payable.(III) Enterprise income tax(1) According to the Proclamation on Continuing Enterprise Income Tax Policy for the Go-west Strategy (MoFProclamation2020 No.23) jointly issued by the Ministry of Finance, the State Administration of Taxation and NDRC, “from January 1,2021 toDecember 31,2030, enterprises established in west China that operate in encouraged industries are subject to enterprise incometax at a reduced rate of 15%.” Mianyang Branch and the subsidiaries of the company established in west China, including ZunyiJiahao, Guiyang Xinke, Qiandongnan New Hope, Chongqing Guoxiong, Ziyang Jiahao, Luzhou New Hope, Hope Food, ZigongHengbo, Pucheng New Hope, Lanzhou New Hope, Yulin New Hope, Guilin New Hope, Pengshan New Hope, Century Investment,Wulong New Hope, Kai County New Hope, Chongqing New Hope, Fenglan Technology and Ningxia New Hope, are subject to anincome tax rate of 15%. All branches operating across regions aggregate and settle their income tax with the tax authoritygoverning the parent company at the end of year following the principles of “unified calculation, level-by-level management, localprepayment, aggregate clearing and fiscal allocation”.(2) The meat food processing businesses of the company are exempted from enterprise income tax with respect to theirpreliminary meat processing operations according to Paragraph 1 in Article 27 of the Enterprise Income Tax Law of the People’sRepublic of China, Article 86 of the Implementing Regulations for Enterprise Income Tax Law of the People’s Republic of Chinaand Document C.S.(2008) No.149 ; the deep processing business is subject to income tax rate of 25%.(3) The breeding businesses of the company are exempted from enterprise income tax with respect to their livestock and poultrybreeding operations according to Paragraph 1 in Article 27 of the Enterprise Income Tax Law of the People’s Republic of Chinaand Article 86 of the Implementing Regulations for Enterprise Income Tax Law of the People’s Republic of China, and havecompleted filings for tax exemption.(4) The subsidiary Weifang New Hope Liuhe Feed Technology Co., Ltd is designated as high-tech enterprise, and according toArticle 28 of the Enterprise Income Tax Law of the People’s Republic of China, high-tech enterprises that the state needs toparticularly support are subject to enterprise income tax at a reduced rate of 15%.(5) Hong Kong Dongxian Co., Ltd. and New Hope Liuhe International Trade (HK) Co., Ltd.,both registered in Hong Kong, aresubject to the income tax rate of 16.5%.(6) According to the Notice of Ministry of Finance and State Administration of Taxation on Enterprise Income Tax PreferentialPolicy for Hainan Free Trade Port (C.S.[2020] No.31), companies in encouraged industries that are registered in Hainan FreeTrade Port and substantially operate are subject to a reduced enterprise income tax rate of 15%, to which Hainan Trading isapplicable.(7) Enterprise income tax policies for overseas subsidiaries of the company:① New Hope Hanoi Co., Ltd., Than Hoa New Hope Livestock Services Co., Ltd., New Hope Binh Dinh Livestock Co., Ltd. andNew Hope Vietnam Technological Livestock Services Co., Ltd. are subject to income tax rate of 10% with respect to their mainbusiness in 2023 according to the local preferential tax policies, while income from their non-main businesses is not entitled toincome tax preference and is subject to income tax rate of 20%.② New Hope Ho Chi Minh City Co., Ltd. is subject to an income tax rate of 15% with respect to its Phase I project,20% withrespect to the remaining Phase II and Phase III according to the local preferential tax policies, among which Phase I accounts for25.03%.③ New Hope Vinh Long Co., Ltd. is subject to the policy of “three-year tax exemption, nine-year tax reduction by half” for 15years from the opening date according to local preferential tax policies, so the enterprise income tax rate for 2023 is 5%.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.295④ New Hope Hanoi Co., Ltd. Haiphong Branch is subject to income tax rate of 10% with respect to 52% of taxable income fromits main business according to the local preferential tax policies, while income from its non-main businesses is not entitled toincome tax preference and is subject to the normal income tax rate of 20%.⑤ New Hope Dong Thap Aquatic Feed Co., Ltd. is subject to income tax rate of 20% for Phase I; for Phase II, exempted for 2years (2018 to 2019) from 2018, halved at 10% for 4 years (2020 to 2023) and at 20% since 2024, so the income tax rate in 2022was 10%; for Phase III, exempted for 2 years (2021 to 2022) from 2021, halved at 10% for 4 years (2023 to 2026) and at 20%since 2027, so the income tax rate for 2023 is 10%; for Phase IV, exempted for 2 years (2022 to 2023) from 2022, halved at 10%for 4 years (2024 to 2027) and at 20% since 2028, so the income tax rate for 2023 is 0%. The four phases accounts for 42%,33%,16% and 9% respectively.⑥ New Hope Binh Phuoc Livestock Co., Ltd. is subject to income tax rate of 7.5% for its main business according to the localpreferential tax policies, while income from other businesses is not entitled to the income tax preference and is subject to thenormal income tax rate of 15%.⑦ New Hope Davao Agriculture Ltd. is exempted from enterprise income tax until May 2027 according to the local tax laws; andNew Hope Philippines Livestock Inc. is exempted from enterprise income tax until February 2024 according to the local tax laws;⑧ Myanmar New Hope Agro-Technology Co., Ltd. is exempted from enterprise income tax for 5 years starting from officialproduction and sales operations according to local preferential tax policies. This company was put into operation in November2018 and is free from income tax from January 1,2023 to October 31,2023. New Hope Mandalay Co., Ltd. is exempted fromenterprise income tax for 5 years starting from official production and sales operations according to local preferential tax policies.This company was put into operation on January 2,2021 and its tax holiday (from January 2,2021 to December 31,2025) coversthe year of 2023.⑨ New Hope Laos Co., Ltd. is subject to income tax rate of 8% in 2023 according to local preferential tax policies.⑩ The enterprise income tax on trade income of New Hope Singapore Pte. Ltd. is subject to three preferential tax rates andperiods,5% (DEI) for 5 years (July 1,2015 to June 30,2020) +3 years (July 1,2020 to June 30,2023),10% for 2 years (July 1,2023 to June 30,2025),10.5% for 3 years (July 1,2025 to June 30,2028). Therefore, the income tax rate on trade income in thefirst half of 2023 is 5%. Where interest and management fee revenue is involved, the company is subject to an income tax rate of8% (FTC), with a preferential period of 5 years (July 1,2022 to June 30,2027), and the company is exempted from withholdingtax (withholding income tax on interest) in Singapore when paying interest expenses to overseas banking institutions and affiliates;the remaining related income is not entitled to the aforesaid preferences, and is subject to an income tax rate of 17%. In thecalculation, the first 10,000 Singapore dollars of taxable income are 75% exempted from income tax, the subsequent 190,000Singapore dollars thereof are 50% exempted from income tax and the portion in excess of 200,000 Singapore dollars is not entitledto tax reduction or exemption. New Hope Egypt Poultry Ltd. is exempted from enterprise income tax within 10 years of commencement date of its productionactivities with respect to its revenue from activities related to livestock, fishery, poultry raising and honey production according tothe local preferential tax policies. This company was put into operation in December 2020 and was exempted from tax in 2023. New Hope Central Luzon Agriculture Inc., New Hope Tarlac Agriculture Inc., New Hope Bulacan Agriculture Inc., New HopeIsabela Agriculture Inc. and New Hope Pampanga Agriculture Inc. are taxed at the higher of 1% of their gross profits or 25% oftheir total profits from January to June 2023, and the higher of 2% of their gross profits or 25% of their total profits from July toDecember 2023 according to the local tax laws. New Hope Philippines Animal Healthcarae Services Inc. is taxed at the higher of1% of its gross profits or 20% of its actual profits according to the local tax laws. New Hope Bangladesh Ltd., New Hope Agrotech Bangladesh Ltd., New Hope Farms Bangladesh Ltd. and New Hope AnimalNutrition Bangladesh Ltd. are subject to income tax at 35% of revenue with respect to the bank deposit interest revenue part oftheir total profits (10% withheld by banks), income tax at 35% with respect to net non-business revenue and expenditure andincome tax by segment with respect to the total profits net of interest and non-business revenue and expenditures; New HopeFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.296Bangladesh Ltd., New Hope Agrotech Bangladesh Ltd. and New Hope Animal Nutrition Bangladesh Ltd. are subject to a tax rateof 3% with respect to the portion less than 1 million Taka (inclusive); 10% with respect to the portion of 1 million Taka-2 millionTaka (inclusive); and 15% with respect to the portion larger than 2 million Taka. For New Hope Farms Bangladesh Ltd., the firstoption is as follows: tax rate of 0 on less than 1 million Taka (inclusive) income; tax rate of 5% on 1 million-2 million Taka(inclusive); and tax rate of 10% on more than 2 million Taka income. The second option is 0.6% of all revenue. The actual tax rateis whichever higher between the two options.New Hope Singapore Premix Pte. Ltd., NHCSInvestment Pte. Ltd., New Hope Singapore Biotechnology Pte. Ltd., New HopeAsia Investment Pte. Ltd., New Hope International Holdings (Pte.) Ltd. and New Hope Global Investment Pte. Ltd. are subject toincome tax rate of 17% in 2023 according to the local tax policy.New Hope Binh Dinh Livestock Co., Ltd., New Hope Hanoi LLCBac Giang Branch, New Hope Hanoi LLCThanh HoaBranch, and New Hope Lanka (Pvt) Limited are subject to income tax rate of 20% in 2023 according to respective local tax policy.Myanmar New Hope Farms Co., Ltd., Xinhe Myanmar Agro-technology Co., Ltd., PTNew Hope Medan, PTNew Hope FarmsIndonesia, PTNew Hope Farms Indonesia Jawa Timur Branch, PTNew Hope Jawa Timur, PTNew Hope Jawa Timur MojokertoBranch, PTNew Hope Indonesia, PTNew Hope Indonesia Jawa Tengah Branch, PTNew Hope Indonesia Cirebon Branch, PTNew Hope Indonesia Lampung Branch, PTNew Hope Indonesia Makassar, PTNew Hope Poultry Trade Indonesia, PTNew HopeFood Indonesia, PTNew Hope Aqua Feed Indonesia, PTCorn Drying Indonesia, PTCorn Drying Indonesia Lampung Branch andNew Hope Turkey Feed and Farming Food Import & Export and Industry Ltd. are subject to income tax rate of 22% in 2023according to respective local tax policy. Xinhe International Trade Co., Ltd., New Hope Kolkata Animal Feed Private Ltd. and New Hope Agro-technology Nigeria Ltd.are subject to income tax rate of 33% in 2023 according to respective local tax policy. New Hope South Africa Ltd. was subject to income tax rate of 28% from January to March 2023 and 27% after March 31according to the local tax policy. New Hope Egypt Ltd., New Hope Egypt Aquatic Technology Ltd., New Hope Agriculture (Egypt) Ltd. and New HopeAlexander Ltd. are subject to income tax rate of 22.5% in 2023 according to the local tax policy. Sichuan New Hope Agriculture (Cambodia) Co., Ltd. is subject to the higher income tax rate of 1% of its business income or20% of its total profits according to the local tax laws.Note: 1. The income tax preferential policies applicable to the company are detailed in Section 2. (III)(8) “Enterprise income taxpreferential policies for overseas subsidiaries of the company”.2. Apart from the aforesaid companies, all other majority-owned subsidiaries are subject to income tax rate of 25%.3. OthersVII. Notes to items in consolidated financial statements1. Monetary capitalUnit: yuanItem Ending balance Beginning balanceCash on hand 20,187,552.7418,939,835.86Bank deposits 9,795,394,859.4810,060,168,119.87Other monetary capital 1,335,204,797.971,433,322,226.62Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.297Total 11,150,787,210.1911,512,430,182.35Wherein: total amount deposited abroad 1,220,709,331.07645,143,177.27Total amount restricted from use due to mortgage,pledge or freeze948,272,428.70698,411,008.11Other remarks(1) Among the ending balance of other monetary capital, the balance of various margins was 948,272,428.70 yuan, which isunavailable due to restrictions on use, therefore it is included in the monetary capital in the balance sheet, and not presented as“cash and cash equivalents” in the cash flow statement; in addition, there is time deposit of 1,100,000,000.00 yuan in the endingbalance of bank deposits, which the company intends to hold to maturity, therefore it is included in the monetary capital in thebalance sheet, and not presented as “cash and cash equivalents” in the cash flow statement.(2) There were no momentary capital deposited abroad and the repatriation of which is restricted.2. Held-for-trading financial assetsUnit: yuanItem Ending balance Beginning balanceFinancial assets at fair value through profit or loss 77,510,307.04148,914,177.97Wherein:Derivative financial assets 77,510,307.0498,914,177.97Others 50,000,000.00Wherein:Total 77,510,307.04148,914,177.97Other remarks(1) The derivative financial assets in the held-for-trading financial assets mainly consist of interest rate swaps and futures contractspurchased.(2) There were no significant restrictions on sale or realization of various financial assets at fair value through profit or loss at theend of the period.3. Notes receivable(1) Notes receivable presented by categoryUnit: yuanItem Ending balance Beginning balanceBank acceptance bills 79,954,548.8554,666,210.00Commercial acceptance bills 231,188,321.25391,200.00L/C 27,100,000.0023,700,000.00Total 338,242,870.1078,757,410.00In case of bad debt provision for notes receivable accrued by general model of expected credit loss, please disclose relatedinformation about bad debt provision by reference to the disclosure mode of other receivables:□applicablenot applicableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.298(2) Notes receivable already endorsed or discounted by the company at the end of period and not yetexpired at the balance sheet dateUnit: yuanItemAmount derecognized at the end ofperiodAmount not derecognized at the end ofperiodBank acceptance bills 1,097,457,807.02Commercial acceptance bills 5,568,469,599.66L/C 415,958,413.88Total 7,081,885,820.564. Accounts receivable(1) Accounts receivable disclosed by categoryUnit: yuanCategoryEnding balance Beginning balanceBook balance Bad debt provisionBookvalueBook balance Bad debt provisionBookvalueAmountProportionAmountProportionaccruedAmountProportionAmountProportionaccruedAccountsreceivable withprovision for baddebts byindividual item71,608,8 58.80 3.12% 58,241,1 56.42 81.33% 13,367,7 02.38 56,283,2 77.01 3.49% 32,650,5 81.91 58.01% 23,632,6 95.10Wherein:Accountsreceivable withprovision for baddebts onaportfoliobasis2,226,20 7,143.27 96.88% 302,280,973.20 13.58% 1,923,92 6,170.07 1,554,40 6,773.73 96.51% 292,173,619.38 18.80% 1,262,23 3,154.35Wherein:Total2,297,81 6,002.07 100.00% 360,522,129.62 15.69% 1,937,29 3,872.45 1,610,69 0,050.74 100.00% 324,824,201.29 20.17% 1,285,86 5,849.45Provision for bad debts by individual item: accounts receivable with provision for bad debts in excess of the company’s policyprovisionUnit: yuanName Ending balanceFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.299Book balanceBad debtprovisionProportionaccruedReason for provisionPT.GUNUNGUNGGASINDONESIA 16,065,198.4813,111,495.5381.61%By recoverable amount lowerthan book valuePT.INTERTAMATRIKENCANABERSINAR4,898,808.43624,598.0712.75%By recoverable amount lowerthan book valuePT. KERINCIBUMIPERSADA 4,550,275.924,349,564.8295.59%By recoverable amount lowerthan book valueSUPAAT 4,006,288.251,610,527.8740.20%By recoverable amount lowerthan book valuePTJANUPUTRASEJAHTERA 3,657,948.662,478,260.2267.75%By recoverable amount lowerthan book valueSPSMITRA 2,670,112.072,670,112.07100.00%By recoverable amount lowerthan book valueDRH.H. BAGUSSETIABUDI 2,648,415.002,648,415.00100.00%By recoverable amount lowerthan book valueHARICERAHFARM (HCF) 2,466,964.882,466,964.88100.00%By recoverable amount lowerthan book valuePT. UNGGASMANDIRIINDONESIA 2,452,438.392,452,438.39100.00%By recoverable amount lowerthan book valuePTJANUPUTRASEJAHTERA 2,270,061.232,270,061.23100.00%By recoverable amount lowerthan book valueKAYTANPIOFARM, INC.2,183,764.752,183,764.75100.00%By recoverable amount lowerthan book valuePT.UNGGASBERSAMASENTOSAPERKASA2,002,123.211,281,634.3264.01%By recoverable amount lowerthan book valuePT.LATANSAUNGGASMAKMURINDONESIA (PT.LUMI)1,968,132.821,968,132.82100.00%By recoverable amount lowerthan book valuePTNANDABERKAHINDONESIA 1,878,532.80241,194.1112.84%By recoverable amount lowerthan book valueISABAGUSDWINATA,SE 1,850,248.451,850,248.45100.00%By recoverable amount lowerthan book valuePT.INTIMITRASUKSES 1,784,848.731,784,848.73100.00%By recoverable amount lowerthan book valueSWASENTRALTERNAK(SST) 1,557,614.481,557,614.48100.00%By recoverable amount lowerthan book valuePT.GUNUNGUNGGASINDONESIA 1,475,419.951,475,419.95100.00%By recoverable amount lowerthan book valuePT.UNGGASMANDIRIINDONESIA(PT.UMI)1,389,467.861,389,467.86100.00%By recoverable amount lowerthan book valueBAGUSFARM(NURKHOLIS) 1,348,284.001,348,284.00100.00%By recoverable amount lowerthan book valueZhao Jiu 1,149,540.001,149,540.00100.00%By recoverable amount lowerthan book valuePT.MAHKOTAUNGGASLESTARI 1,097,921.901,097,921.90100.00%By recoverable amount lowerthan book valueSCRSVETERINARYTRADING 1,086,833.501,086,833.50100.00%By recoverable amount lowerthan book valuePT.SUMBERINTANPERKASA 1,054,400.221,054,400.22100.00%By recoverable amount lowerthan book valueLiu Quanshen 1,038,970.001,038,970.00100.00%By recoverable amount lowerthan book valueM.B. DECENAJR. LIVESTOCKDEALER667,118.27667,118.27100.00%By recoverable amount lowerthan book valuePT.Lumajang Satwa 572,310.92572,310.92100.00%By recoverable amount lowerthan book valueZhang Lina 522,720.00522,720.00100.00% By recoverable amount lowerFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.300than book valueMAKMURKITAPS 504,192.25504,192.25100.00%By recoverable amount lowerthan book valueCVANUGERAHBERMITRA 219,447.67219,447.67100.00%By recoverable amount lowerthan book valueRIYANTO 151,681.62150,110.5498.96%By recoverable amount lowerthan book valueSUNARTO 130,610.44130,610.44100.00%By recoverable amount lowerthan book valueSUGENGRAHAYUDI 104,010.48102,951.0198.98%By recoverable amount lowerthan book valueARROHMANPS 97,461.6694,290.6496.75%By recoverable amount lowerthan book valueSAMSULARIFIN 86,691.5186,691.51100.00%By recoverable amount lowerthan book valueTotal 71,608,858.8058,241,156.42Provision for bad debts by portfolio: overseas accounts receivable with provision for bad debts by portfolioUnit: yuanNameEnding balanceBook balance Bad debt provision Proportion accruedRisk free 114,025,409.340.000.00%Low risk 553,049,647.5915,208,867.322.75%Medium risk 41,838,404.058,112,466.8519.39%High risk 123,393,792.34123,393,792.34100.00%Total 832,307,253.32146,715,126.51Remarks on basis for determination of this portfolio:For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accountsreceivable and expected credit loss rate during the entire existence and calculates the expected credit loss by reference to thehistorical credit loss experience and in light of the current situation and forecast future economic situation.A. Accounts receivable of overseas businessesS/NRisk analysis Expected credit loss rateA-1 Risk free 0.00%A-2 Low risk 2.75%A-3 Medium risk 19.39%A-4 High risk 100.00%Provision for bad debts by portfolio: domestic accounts receivable with provision for bad debts by portfolioUnit: yuanNameEnding balanceBook balance Bad debt provision Proportion accruedLow risk 1,153,537,579.3015,111,345.231.31%Relatively lower risk 107,174,221.607,266,412.416.78%High risk 133,188,089.05133,188,089.05100.00%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.301Total 1,393,899,889.95155,565,846.69Remarks on basis for determination of this portfolio:For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accountsreceivableand expected credit loss rate during the entire existence and calculates the expected credit loss by reference to the historical creditloss experience and in light of the current situation and forecast future economic situation.B. Accounts receivable of domestic businessesS/NRisk analysis Expected credit loss rateB-1 Low risk 1.31%B-2 Relatively lower risk 6.78%B-3 High risk 100.00%In case of bad debt provision for accounts receivable accrued by general model of expected credit loss, please disclose relatedinformation about bad debt provision by reference to the disclosure mode of other receivables:□applicablenot applicableDisclosure by ageUnit: yuanAge Ending balanceLess than 1 year (inclusive) 2,054,775,093.22Wherein: less than 6 months 1,887,020,201.517-12 months 167,754,891.711-2 years 74,079,880.262-3 years 52,154,554.77Over 3 years 116,806,473.823-4 years 50,414,966.634-5 years 14,547,673.69Over 5 years 51,843,833.50Total 2,297,816,002.07(2) Bad debt provision accrued, recovered or reversed in the current periodBad debt provision accrued in the current period:Unit: yuanCategoryBeginningbalanceCurrent changeEnding balanceAccruedRecoveredor reversedCharged off OthersBad debt provisionfor accountreceivables324,824,201.2964,041,924.0036,756,561.15 -8,412,565.48360,522,129.62Total 324,824,201.2964,041,924.0036,756,561.15 -8,412,565.48360,522,129.62Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.302(3) Accounts receivable actually charged off in the current periodUnit: yuanItem Amount charged offAccounts receivable actually charged off 36,756,561.15Of which, significant charge-off of accounts receivable:Unit: yuanEntity NameNature ofaccountsreceivableAmountcharged offCause of charge-offCharge-offprocedureperformedWhether theamountswereincurred byrelated-partytransactionBeijing Jiaxin Hengtai Trade Co., Ltd.Goodspayment20,231,843.71Long time overdue,recognized as difficult torecoverNote NoBINTANGMASPSGoodspayment1,290,107.7 1Long time overdue,recognized as difficult torecoverNote NoPT. INTANPERMATAMITRAGoodspayment1,080,908.8 0Long time overdue,recognized as difficult torecoverNote NoPT. BERLIANSARANAMAKMURGoodspayment806,809.99Long time overdue,recognized as difficult torecoverNote NoLi ChenghongGoodspayment787,568.80Long time overdue,recognized as difficult torecoverNote NoSUMBERMILIKFARMGoodspayment721,577.01Long time overdue,recognized as difficult torecoverNote NoFMFARMGoodspayment631,945.68Long time overdue,recognized as difficult torecoverNote NoPT.UNGGASPERMATASEJAHTERAGoodspayment604,440.22Long time overdue,recognized as difficult torecoverNote NoPT.SUMBERINTANPERKASAGoodspayment567,022.75Long time overdue,recognized as difficult torecoverNote NoPT. UNGGASBERKAHMAKMURINDONESIAGoodspayment552,429.64Long time overdue,recognized as difficult torecoverNote NoPT.MITRAAMANSEJAHTERAINDONESIAGoodspayment516,518.66Long time overdue,recognized as difficult torecoverNote NoJAGOMASGoodspayment416,594.65Long time overdue,recognized as difficult torecoverNote NoCVMUTIARAUNGGASMAKMURGoodspayment371,463.66Long time overdue,recognized as difficult torecoverNote NoCV.DIAMONDCAHAYAABADIGoodspayment347,705.38Long time overdue,recognized as difficult torecoverNote NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.303CVMITRAGALAMANDIRIGoodspayment339,468.48Long time overdue,recognized as difficult torecoverNote NoCVTRADINGAGAWESANTOSAGoodspayment320,422.11Long time overdue,recognized as difficult torecoverNote NoRANCAKARYAFARMGoodspayment317,577.84Long time overdue,recognized as difficult torecoverNote NoUGMPSGoodspayment273,792.89Long time overdue,recognized as difficult torecoverNote NoPTBAGELENUNGGASMAJUGoodspayment272,129.00Long time overdue,recognized as difficult torecoverNote NoPT. METAFORAJAGATRAYAGoodspayment271,977.36Long time overdue,recognized as difficult torecoverNote NoPTANDALANTERNAKMAKMURGoodspayment246,168.46Long time overdue,recognized as difficult torecoverNote NoPANENFARMGoodspayment242,519.58Long time overdue,recognized as difficult torecoverNote NoBAHRANPSGoodspayment235,661.53Long time overdue,recognized as difficult torecoverNote NoRPABarokahGoodspayment205,533.07Long time overdue,recognized as difficult torecoverNote NoPTSUMBERPROTEININDONESIAGoodspayment200,185.74Long time overdue,recognized as difficult torecoverNote NoMARWOTOGoodspayment196,533.80Long time overdue,recognized as difficult torecoverNote NoRDSFARMGoodspayment196,335.97Long time overdue,recognized as difficult torecoverNote NoDHEAFARMGoodspayment191,835.05Long time overdue,recognized as difficult torecoverNote NoCV. RODAEMASINDOPERKASAGoodspayment190,798.69Long time overdue,recognized as difficult torecoverNote NoLGFARMGoodspayment181,351.33Long time overdue,recognized as difficult torecoverNote NoMAJUJAYAFARMGoodspayment158,542.16Long time overdue,recognized as difficult torecoverNote NoCVMULTIMITRAINDOFARMGoodspayment158,412.48Long time overdue,recognized as difficult torecoverNote NoCV.ADIKARAFARMGoodspayment156,621.54Long time overdue,recognized as difficult torecoverNote NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.304BUDIYANTOFARMGoodspayment155,845.85Long time overdue,recognized as difficult torecoverNote NoRIZKIBERKAHUTAMAGoodspayment154,357.74Long time overdue,recognized as difficult torecoverNote NoKong LingjieGoodspayment143,800.00Long time overdue,recognized as difficult torecoverNote NoSURYADIGoodspayment141,488.49Long time overdue,recognized as difficult torecoverNote NoSENTRASEMBAKOJAYAGoodspayment138,524.72Long time overdue,recognized as difficult torecoverNote NoSRIYANTIGoodspayment138,064.21Long time overdue,recognized as difficult torecoverNote NoPT.BRANTASABADISENTOSAGoodspayment137,512.39Long time overdue,recognized as difficult torecoverNote NoSUPARNIGoodspayment136,905.63Long time overdue,recognized as difficult torecoverNote NoTIARAFARMGoodspayment129,255.77Long time overdue,recognized as difficult torecoverNote NoLiu ChangGoodspayment123,445.50Long time overdue,recognized as difficult torecoverNote NoPUTRAJAYAFARMGoodspayment122,922.24Long time overdue,recognized as difficult torecoverNote NoVILINSIASAMUELLAUGoodspayment117,539.75Long time overdue,recognized as difficult torecoverNote NoAINAAINIGoodspayment112,007.79Long time overdue,recognized as difficult torecoverNote NoCVJAGOPUTRASALAMANGoodspayment109,903.37Long time overdue,recognized as difficult torecoverNote NoIRENEFARMGoodspayment100,961.05Long time overdue,recognized as difficult torecoverNote NoIWAYANSUARTIKAGoodspayment93,888.79Long time overdue,recognized as difficult torecoverNote NoMeng LiangGoodspayment89,452.00Long time overdue,recognized as difficult torecoverNote NoWIDODOWALUYOGoodspayment82,487.03Long time overdue,recognized as difficult torecoverNote NoLASKARPELANGIGoodspayment79,177.72Long time overdue,recognized as difficult torecoverNote NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.305BAROKAHBERKATMANDIRIGoodspayment78,729.42Long time overdue,recognized as difficult torecoverNote NoTANDJAJAFARMGoodspayment76,507.74Long time overdue,recognized as difficult torecoverNote NoDANIELABRAHAMCIAHAYAGoodspayment74,375.27Long time overdue,recognized as difficult torecoverNote NoMEGAJULIARAIZGoodspayment72,866.35Long time overdue,recognized as difficult torecoverNote NoCEBONGANPSGoodspayment71,130.62Long time overdue,recognized as difficult torecoverNote NoALAMRAYAGRUPGoodspayment70,881.27Long time overdue,recognized as difficult torecoverNote NoUDINJAYAGROUPGoodspayment68,179.56Long time overdue,recognized as difficult torecoverNote NoSATRIAPSGoodspayment66,618.34Long time overdue,recognized as difficult torecoverNote NoIMCGROUPGoodspayment65,238.29Long time overdue,recognized as difficult torecoverNote NoNurmala FajriyahGoodspayment64,949.19Long time overdue,recognized as difficult torecoverNote NoMEGAJAYAFARMGoodspayment57,499.38Long time overdue,recognized as difficult torecoverNote NoShuangying Hardware and DlectricalStore at Xiangyang Road, ChengguanTown, Tangyin CountyGoodspayment55,717.00Long time overdue,recognized as difficult torecoverNote NoOthersGoodspayment343,524.94Long time overdue,recognized as difficult torecoverNote NoTotal36,756,561.15Remarks on accounts receivable charged offFor receivables that are indeed unrecoverable, individual charged-off amount of <0.5 million yuan is submitted to the CFO,vice president and president of joint-stock company for approval after being approved by the tier-2 business unit; individualcharged-off amount of ≥ 0.5 million yuan is submitted to the chairman for approval.(4) Top 5 accounts receivable in ending balance by debtorUnit: yuanEntity NameEnding balance ofaccounts receivablePercentage in the total ending balance ofaccounts receivableEnding balance ofbad debt provisionBengbu Tianbang Feed TechnologyCo., Ltd.100,104,032.424.36% 1,311,362.63Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.306Walmart (China) Investment Co., Ltd.45,813,818.471.99% 600,161.01Xinzhi Huide Machinery TechnologyCo., Ltd.29,688,563.091.29% 4,796,636.34Liaocheng Xinxing Shangyu DownProducts Co., Ltd.26,058,024.721.13% 1,674,417.24Nanjing Heda Food Co., Ltd.25,027,303.011.09% 25,027,303.01Total 226,691,741.719.86%(5) Accounts receivable terminated recognition due to transfer of financial assetsWithin this period, there was no termination of the recognition of accounts receivable due to the transfer of financial assets, nortransfer of accounts receivable and continued involvement of assets and liabilities formed.(6) OthersNegotiable accounts receivable debentures already endorsed or discounted by the company at the end of period and not yet expiredat the balance sheet date was 217,376,900.39 yuan.5. Prepayments(1) Prepayments presented by ageUnit: yuanAgeEnding balance Beginning balanceAmount Proportion Amount ProportionLess than 1 year 1,559,024,957.9993.29% 2,841,127,875.1899.32%1-2 years 106,070,586.986.35% 14,551,748.450.51%2-3 years 6,001,442.230.36% 4,816,453.930.17%Total 1,671,096,987.202,860,496,077.56Remarks on causes of high-value prepayments aged over 1 year and not yet settled in time:There were no significant prepayments aged over 1 year at the end of period.(2) Top 5 prepayments in ending balance by payeeThe aggregate amount of top five prepayments in ending balance by payee was 425,270,368.41 yuan, accounting for 25.45% ofthe total ending balance of prepayments.6. Other receivablesUnit: yuanItem Ending balance Beginning balanceDividends receivable 6,000,000.006,000,000.00Other receivables 700,321,886.511,444,053,026.91Total 706,321,886.511,450,053,026.91Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.307(1) Dividends receivable(1) Dividends receivable by categoryUnit: yuanProject (or invested entity) Ending balance Beginning balanceZibo Xinmu Machinery Technology Co.,Ltd.6,000,000.006,000,000.00Total 6,000,000.006,000,000.00(2) Other receivables1) Other receivables categorized by nature of amountUnit: yuanNature of amount Ending book balance Beginning book balancePetty cash 16,060,741.2817,997,014.81Margin 278,040,039.20329,998,426.35Deposit 128,633,921.48169,164,309.81Temporary borrowings 245,563,179.49724,290,387.95Advances 256,871,867.09194,977,914.40Payments for share transfer 12,088,500.00268,959,000.00Others 42,550,517.4140,664,864.56Total 979,808,765.951,746,051,917.882) Bad debt provision accruedUnit: yuanBad debt provisionPhase 1 Phase 2 Phase 3TotalExpected credit lossin the coming 12monthsExpected credit lossover the entireduration (no creditimpairment)Expected credit lossover the entire duration(with creditimpairment)Balance as of Jan.1,2023122,149,879.83179,849,011.14301,998,890.97Balance as of Jan.1,2022in the current period--transferred to phase 34,134,032.47 -4,134,032.47Current reversal 32,061,345.0432,061,345.04Charged off in the currentperiod7,789,417.827,789,417.82Other changes 241,624.0017,097,127.3317,338,751.33Balance as of Jun.30,202394,464,191.26185,022,688.18279,486,879.44Changes in book balance with respect to which current changes in the loss provision are significant□applicablenot applicableDisclosure by ageUnit: yuanAge Ending balanceFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.308Less than 1 year (inclusive) 474,997,729.251-2 years 212,483,991.382-3 years 113,296,810.04Over 3 years 179,030,235.283-4 years 20,764,072.184-5 years 28,267,849.73Over 5 years 129,998,313.37Total 979,808,765.953) Bad debt provision accrued, recovered or reversed in the current periodBad debt provision accrued in the current period:Unit: yuanCategoryBeginningbalanceCurrent changeEnding balanceAccruedRecovered orreversedCharged off OthersBad debt provision forother receivables301,998,890.9732,061,345.047,789,417.82 - 17,338,751.33 279,486,879.44Total 301,998,890.9732,061,345.047,789,417.82 - 17,338,751.33 279,486,879.44The company’s bad debt provision for other receivables was 301,998,890.97 yuan at the end of the previous year;bad debt provision reversed in the current period was 32,061,345.04 yuan;increase in the balance of bad debt provision in the current period (represented in negative numbers) caused by other changesmainly include:1) Decrease of the bad debt provision by 5,767 yuan due to changes in subsidiaries;2) Increase of the bad debt provision by 247,391 yuan due to changes in exchange rate;3) Other receivables of 17,097,127.33 yuan charged off by the company prior to the current period but recovered in the currentperiod.4) Other receivables actually charged off in the current periodUnit: yuanItem Amount charged offOther receivables actually charged off 7,789,417.82Of which, significant charge-off of other receivables:Unit: yuanEntity NameNature ofotherreceivablesAmount chargedoffCause of charge-offCharge-offprocedureperformedWhether theamountswereincurred byrelated-partytransactionQingdao Zhongguan Grain andOil Co., Ltd.Currentaccounts3,259,964.51Long time overdue,recognized as difficult torecoverNote NoZibo Qinghe Ducks Co., Ltd. Current 1,600,000.00 Long time overdue, Note NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.309accounts recognized as difficult torecoverHNAGroup Finance Co., Ltd.Currentaccounts1,000,000.00Long time overdue,recognized as difficult torecoverNote NoLin Yanxia’s Pig Farm(Tangping Pig Farm)Currentaccounts760,000.00Long time overdue,recognized as difficult torecoverNote NoYe JinhuaCurrentaccounts150,000.00Long time overdue,recognized as difficult torecoverNote NoPICCProperty and CasualtyCompany Limited GuangxiZhuang Autonomous RegionBranchCurrentaccounts56,880.00Long time overdue,recognized as difficult torecoverNote NoKaiping Chishui Town BanxiVillage Baimujing EconomicCooperativesCurrentaccounts48,000.00Long time overdue,recognized as difficult torecoverNote NoLi ChangjiangCurrentaccounts33,075.11Long time overdue,recognized as difficult torecoverNote NoZibo Jinjie Natural Gas PipelineTransportation Service Co., Ltd.Currentaccounts31,500.00Long time overdue,recognized as difficult torecoverNote NoPan Xi’anCurrentaccounts22,645.00Long time overdue,recognized as difficult torecoverNote NoNing HaifengCurrentaccounts20,520.00Long time overdue,recognized as difficult torecoverNote NoHubei Xiuhong NetworkTechnology Co., Ltd.Currentaccounts15,256.90Long time overdue,recognized as difficult torecoverNote NoOthersCurrentaccounts791,576.30Long time overdue,recognized as difficult torecoverNote NoTotal 7,789,417.82Remarks on other receivables charged off:Note: for receivables that are indeed unrecoverable, individual charged-off amount <0.5 million yuan is submitted to the CFO,vice president and president of the company for approval after being approved by the tier-2 business unit; individual charged-offamount ≥ 0.5 million yuan is submitted to the chairman for approval.5) Top 5 other receivables in ending balance by debtorUnit: yuanEntity NameNature ofamountEnding balance AgePercentage in thetotal endingbalance of otherreceivablesEnding balanceof bad debtprovisionSDICBIOTECHInvestment Co.,Ltd.Margin,securitydeposit58,314,580.25Less than 1 year,1- 2 years5.95% 3,032,559.36Beijing Meihao Meideling FoodCo., Ltd.Temporary55,999,999.50Less than 1 year,1- 2 years5.72% 5,781,999.93Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.310borrowingsHSBCMargin 36,129,000.00 Less than 1 year 3.69% 1,824,514.50COFCOTrading Co., Ltd.Margin,securitydeposit34,294,871.56 Less than 1 year 3.50% 1,731,891.01Linyi Pingyi County FinanceBureauProceedsfromdisposalof non-currentassets32,998,213.821-2 years 3.37% 4,451,459.04Total 217,736,665.1322.23% 16,822,423.847. InventoriesWhether the company is required to comply with disclosure requirements for real estate industryNo(1) Inventories by categoryUnit: yuanItemEnding balance Beginning balanceBook balanceInventoryrevaluationreserve orcontractperformancecostimpairmentprovisionBook value Book balanceInventoryrevaluationreserve orcontractperformancecostimpairmentprovisionBook valueRaw materials4,183,112,356.56 9,026,932.33 4,174,085,424.23 5,521,977,933.79 7,952,613.10 5,514,025,320.69Products inprogress108,481,423.497,509.42108,473,914.07121,070,257.607,509.42121,062,748.18Goods in stock4,948,824,351.27 97,794,355.83 4,851,029,995.44 3,406,636,674.72 48,544,973.90 3,358,091,700.82Revolvingmaterials79,375,093.96215,720.6379,159,373.3385,791,920.90215,720.6385,576,200.27Consumptivebiologicalassets7,913,099,683.04 462,374,035.56 7,450,725,647.48 9,322,004,687.06 647,880,552.59 8,674,124,134.47Contractperformancecosts0.00Goods in transit 0.00Low-valueconsumables9,356,032.939,356,032.9311,675,234.3011,675,234.30Packagingmaterials118,028,559.311,494,966.38116,533,592.93137,387,180.451,240,981.39136,146,199.06Outsourcedprocessedmaterials126,620.24126,620.24381,984.80381,984.80Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.311Total17,360,404,120.80 570,913,520.15 16,789,490,600.65 18,606,925,873.62 705,842,351.03 17,901,083,522.59(2) Inventory revaluation reserve or contract performance cost impairment provisionUnit: yuanItemBeginningbalanceCurrent increase Current decreaseEnding balanceAccrued OthersReversed orwritten offOthersRaw materials 7,952,613.102,301,104.0150,670.281,277,455.069,026,932.33Products inprogress7,509.427,509.42Goods in stock 48,544,973.90104,275,851.9555,026,470.0297,794,355.83Revolvingmaterials215,720.63215,720.63Consumptivebiologicalassets647,880,552.59799,012,187.55984,518,704.58462,374,035.56Low-valueconsumablesPackagingmaterials1,240,981.39626,883.76372,898.771,494,966.38OutsourcedprocessedmaterialsTotal 705,842,351.03906,216,027.2750,670.28 1,041,195,528.43 570,913,520.15Details of inventory revaluation reserve:ItemSpecific basis foraccrual of inventoryrevaluation reserveReasons for currentreversalReasons for currentwrite-offRaw materialsNet realizable valuelower than book valuePrice reboundRequisitioned forproduction in thecurrent periodPackaging materialsNet realizable valuelower than book valuePrice reboundRequisitioned forproduction in thecurrent periodGoods in stockNet realizable valuelower than book valuePrice reboundSold in the currentperiodConsumptivebiological assetsNet realizable valuelower than book valuePrice reboundSold in the currentperiod8. Other current assetsUnit: yuanItem Ending balance Beginning balanceFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.312VAT input tax to be deducted 86,344,979.3998,410,733.98Taxes prepaid 144,378,139.00115,429,918.11Interest receivable on time deposits 124,712,896.3997,850,618.04Total 355,436,014.78311,691,270.13Other remarks:None9. Long-term equity investmentsUnit: yuanInvested entityBeginningbalance(bookvalue)Current increase or decreaseEndingbalance(bookvalue)EndingbalanceofimpairmentprovisionAdditionalinvestmentReducedinvestmentProfitor lossoninvestmentrecognizedusingtheequitymethodAdjustmentforothercomprehensiveincomeOtherequitychangesCashdividends orprofitsdeclared fordistributionImpairmentprovisionaccruedOthersI. Joint venturesTaishanJiaxinLogistics Co.,Ltd.BeijingMeihaoMeidelingFoodCo.,Ltd.AnhuiXinqiaoDownCo.,Ltd.28,062,222.67 752,748.44 28,814,971.11Yan’anXinyongxiangTechnologyCo.,Ltd.42,793,725.70 - 5,673,1 84.83 37,120,540.87GuangdongHopeNo.1EquityInvestm552,802,625.67 - 29,003,544.53 523,799,081.14Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.313entPartnership(LP)Shenyang NewHopeNewAgriculturalIndustry FundPartnership(LP)678,426,762.58 - 1,991,1 70.54 676,435,592.04HainanNongken NewHopeFarmingTechnologyCo.,Ltd.122,138,857.19 - 7,713,2 14.20 114,425,642.99ZhanjiangGuangkenXinhaoFarming Co.,Ltd.108,066,199.91 108,066,199.91ShandongGongrong NewHopeEquityInvestmentFundPartnership(LP)299,189,814.76 298,158,931.45 1,030,8 83.31Subtotal1,831,4 80,208.48 406,225,131.36 - 43,628,365.66 1,381,6 26,711.46II. AffiliatesChinaMinshengBank21,649,911,985.17 992,903,743.00 105,441,475.00 391,265,307.19 22,356,991,895.98GuangzhouChimian Co.,3,175,3 41.81 - 4,383.0 7 3,170,9 58.74Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.314Ltd.NHE(Beijing)TechnologyCo.,Ltd.9,457,3 92.32 2,244.3 4 9,459,6 36.66QianxinanHopeFarming Co.,Ltd.14,120,686.84 766,564.54 14,887,251.38HebeiKingheySausageCasingsCo.,Ltd.3,790,1 34.71 - 658,724.42 3,131,4 10.29NewHopeFinanceCo.,Ltd.1,406,7 74,623.52 48,405,075.44 1,455,1 79,698.96NanjingHedaFoodCo.,Ltd.Qingdao BigHerdsmanMachinery Co.,Ltd.227,084,303.94 32,451,520.07 946,376.92 52,008,750.00 208,473,450.93AnhuiXinhuaDucksCo.,Ltd.2,732,4 74.04 2,732,4 74.04ShanghaiLiuheQinqiang FoodCo.,Ltd.50,161,833.63 38,389.47 50,200,223.10BeijingCERESAgriculturalDevelopment400,000.00 400,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.315Co.,Ltd.ShandongHyporLiuheBreeding Co.,Ltd.14,618,700.00 - 1,768,2 52.38 12,850,447.62AnhuiAntaiAgriculturalDevelopmentCo.,Ltd.56,134,358.34 - 6,630,8 80.00 49,503,478.34NantongYunfanNetworkTechnologyCo.,Ltd.15,809,295.27 - 116,893.89 15,692,401.38XinzhiHuideMachineryTechnologyCo.,Ltd.53,843,103.10 264,927.51 603,873.80 54,711,904.41ChengduTianfuXingxinxinFarmingTechnologyCo.,Ltd.416,841,593.70 - 4,257,7 39.44 412,583,854.26JiaohuiDongfang NewHope(Suzhou)PrivateEquityInvestmentFundCo.,Ltd.499,765,486.24 - 1,351,9 17.21 17,585,968.32 480,827,600.71Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.316Subtotal24,424,621,312.63 1,060,0 43,673.96 105,441,475.00 1,550,2 50.72 460,860,025.51 25,130,796,686.80Total26,256,101,521.11 406,225,131.36 1,016,4 15,308.30 105,441,475.00 1,550,2 50.72 460,860,025.51 26,512,423,398.26Other remarksNote: As the net assets of Nanjing Heda Food Co., Ltd., Taishan Jiaxin Logistics Co., Ltd. and Beijing Meihao Meideling FoodCo., Ltd. were negative, the company wrote the investment cost down to 0 using the equity method.10. Investments in other equity instrumentsUnit: yuanItem Ending balance Beginning balanceMinsheng Life Insurance Co., Ltd.211,196,000.00211,196,000.00Hebei Xingda Feed Group Co., Ltd.32,901,236.1032,901,236.10Beijing Baiyitong Technology Co., Ltd.21,970,000.0021,970,000.00Guobao Life Insurance Co., Ltd.15,000,000.0015,000,000.00HEcom (Beijing) Technology Co., Ltd.10,596,503.8410,596,503.84Sinograin Laizhou Fenghe Logistics Co.,Ltd.10,000,000.0010,000,000.00Shaanxi Yangling Rural CommercialBank Co., Ltd.7,020,000.007,020,000.00Ziyang Agricultural IndustrializationCredit Guarantee Co., Ltd.4,500,000.004,500,000.00Meigu Arsha Planting & FarmingSpecialized Cooperatives2,000,000.002,000,000.00Fengshun New Hope Biotechnology Co.,Ltd.65,086.4465,086.44Total 315,248,826.38315,248,826.38Current non-trading equity instrument investments disclosed by itemUnit: yuanProject nameDividendincomerecognizedAccumulatedearningsAccumulatedlossesAmount ofothercomprehensiveincometransferred toretainedearningsReasons fordesignation to bemeasured at fairvalue throughothercomprehensiveincomeReasons fortransferringothercomprehensiveincome toretainedearningsMinsheng Life InsuranceCo., Ltd.6,784,000.00 NoteHebei Xingda FeedGroup Co., Ltd.NoteBeijing BaiyitongTechnology Co., Ltd.NoteGuobao Life InsuranceCo., Ltd.NoteHEcom (Beijing)Technology Co., Ltd.NoteSinograin LaizhouFenghe Logistics Co.,Ltd.NoteFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.317Shaanxi Yangling RuralCommercial Bank Co.,Ltd.NoteZiyang AgriculturalIndustrialization CreditGuarantee Co., Ltd.NoteMeigu Arsha Planting &Farming SpecializedCooperativesNoteFengshun New HopeBiotechnology Co., Ltd.NoteTotal 6,784,000.00Other remarks:Note: investment in equity instruments of the company and its subsidiaries are investments planned by the company and itssubsidiaries to hold in long term for strategic purposes, therefore the company and its subsidiaries designate them as financialassets measured at fair value through other comprehensive income on the date of first adoption of new financial instrumentstandards.11. Investment properties(1) Investment properties measured at costapplicable □not applicableUnit: yuanItemHouses andbuildingsLand use rightConstructionin progressTotalI. Original book value1. Beginning balance 206,361,291.15206,361,291.152. Current increase(1) Purchased(2) Transferred from inventory/fixedassets/construction in progress(3) Increase due to businesscombination3. Current decrease(1) Disposed(2) Other transfer-out4. Ending balance 206,361,291.15206,361,291.15II. Accumulated depreciation and accumulatedamortization1. Beginning balance 33,214,580.8933,214,580.892. Current increase 4,530,713.674,530,713.67(1) Depreciated or amortized 4,530,713.674,530,713.673. Current decrease(1) Disposed(2) Other transfer-outFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.3184. Ending balance 37,745,294.5637,745,294.56III. Impairment provision1. Beginning balance2. Current increase(1) Accrued3. Current decrease(1) Disposed(2) Other transfer-out4. Ending balanceIV. Book value1. Ending book value 168,615,996.59168,615,996.592. Beginning book value 173,146,710.26173,146,710.26(2) Investment properties measured at fair value□applicablenot applicable(3) Investment properties with title certificates pendingUnit: yuanItem Book value Why title certificate pendingSelf-built houses on leased land 97,822,983.33 cannot be secured for leased landOther remarks12. Fixed assetsUnit: yuanItem Ending balance Beginning balanceFixed assets 36,694,212,664.2235,683,327,341.71Total 36,694,212,664.2235,683,327,341.71(1) Details of fixed assetsUnit: yuanItemHouses andbuildingsMachinery andequipmentTransportequipmentOthers TotalI. Originalbook value:1.Beginningbalance27,957,066,947.9116,015,114,090.331,167,261,194.181,525,689,864.4246,665,132,096.84 2.Currentincrease1,370,350,746.72960,830,728.4719,696,752.9579,808,536.242,430,686,764.38(1)Purchased6,059,773.11124,745,736.1715,509,021.2148,659,486.06194,974,016.55(2) 1,272,365,076.53781,582,040.8122,749.6928,448,487.862,082,418,354.89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.319Transferredfromconstruction inprogress(3)Increase dueto businesscombination(4)Exchange ratechanges91,925,897.0854,502,951.494,164,982.052,700,562.32153,294,392.94 3.Currentdecrease110,473,545.8593,291,645.2413,340,285.7024,261,828.56241,367,305.35(1)Disposed orscrapped22,118,312.3750,343,678.549,673,005.1821,153,474.23103,288,470.32(2)Decrease insubsidiaries51,792,583.1312,516,501.571,056,061.73655,560.0266,020,706.45(3)Exchange ratechanges36,562,650.3530,431,465.132,611,218.792,452,794.3172,058,128.584. Endingbalance29,216,944,148.7816,882,653,173.561,173,617,661.431,581,236,572.1048,854,451,555.87II.Accumulateddepreciation1.Beginningbalance4,296,666,528.815,357,842,301.86390,020,214.23880,219,777.8710,924,748,822.77 2.Currentincrease521,180,198.19585,049,245.4653,864,543.10121,354,102.711,281,448,089.46(1)Accrued503,057,321.13564,666,409.7351,735,218.08119,517,736.171,238,976,685.11(2)Exchange ratechanges18,122,877.0620,382,835.732,129,325.021,836,366.5442,471,404.35 3.Currentdecrease28,097,885.2050,907,334.267,689,262.2616,269,666.87102,964,148.59(1)Disposed orscrapped10,834,750.0733,297,285.276,198,439.7114,133,760.9264,464,235.97(2)Decrease insubsidiaries12,979,535.3610,039,980.39639,359.67535,117.5424,193,992.96(3)Exchange ratechanges4,283,599.777,570,068.60851,462.881,600,788.4114,305,919.664. Endingbalance4,789,748,841.805,891,984,213.06436,195,495.07985,304,213.7112,103,232,763.64Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.320III.Impairmentprovision1.Beginningbalance39,546,979.7716,620,508.48105,118.24783,325.8757,055,932.36 2.Currentincrease(1)Accrued3.Currentdecrease49,804.3549,804.35(1)Disposed orscrapped(2)Exchange ratechanges49,804.3549,804.354. Endingbalance39,546,979.7716,570,704.13105,118.24783,325.8757,006,128.01IV. Bookvalue1. Endingbook value24,387,648,327.2110,974,098,256.37737,317,048.12595,149,032.5236,694,212,664.22 2.Beginningbook value23,620,853,439.3310,640,651,279.99777,135,861.71644,686,760.6835,683,327,341.71(2) Fixed assets temporarily idleUnit: yuanItemOriginal bookvalueAccumulateddepreciationImpairmentprovisionBook value RemarksHouses andbuildings109,537,503.1349,382,612.8635,268,406.4624,886,483.81Machinery andequipment97,081,486.2678,358,103.1312,377,702.356,345,680.78Others 7,422,479.786,691,305.11456,933.91274,240.76Total 214,041,469.17134,432,021.1048,103,042.7231,506,405.35(3) Fixed assets leased under operating leaseUnit: yuanItem Ending book valueGeneral office buildings and production equipment 167,012,547.57(4) Fixed assets with title certificate pendingUnit: yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.321Item Book value Why title certificate pendingSelf-built houses on self-owned land 1,084,555,291.86Filling and completion formalities to beperfectedSelf-built houses on leased land 12,478,430,706.85 cannot be secured for leased landHouses with title transfer pending 23,106,381.43Others 1,368,910.39 Dilapidated housesTotal 13,587,461,290.53Other remarks13. Construction in progressUnit: yuanItem Ending balance Beginning balanceConstruction in progress 20,275,114,273.5920,157,929,735.51Total 20,275,114,273.5920,157,929,735.51(1) Construction in progressUnit: yuanItemEnding balance Beginning balanceBook balanceImpairmentprovisionBook value Book balanceImpairmentprovisionBook valueFeed millreconstructionand expansionproject1,240,416,090.511,240,416,090.511,254,851,223.531,254,851,223.53Food processingplantreconstructionand expansionproject490,908,581.48490,908,581.48523,216,327.97523,216,327.97Breedingcompanyreconstructionand expansionproject18,509,177,051.8018,509,177,051.8018,348,791,651.1218,348,791,651.12Others 34,612,549.8034,612,549.8031,070,532.8931,070,532.89Total 20,275,114,273.5920,275,114,273.5920,157,929,735.5120,157,929,735.51(2) Current changes in key construction projects in progressUnit: yuanProjectnameBudgetBeginningbalanceCurrentincreaseAmounttransferred tofixedassetsin thecurrentperiodCurrent otherdecreaseEndingbalancePercentage ofaccumulatedprojectinputinbudgetProjectprogressAccumulatedamount ofcapitalizedinterestWherein:currentamount ofinterestcapitalizedCurrentinterestcapitalizationrateSourceoffundingNew 869,47679,6955,205734,8984.5284.2567,93312,1513.88% OthersFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.322pigfarmsbuiltbyZhangwuXinwang0,000.00 4,290.83,487.9 3 9,778.76% % ,714.2 6,358.3 0NewpigfarmsbuiltbyGuang'anXinhao780,00 0,000.00 247,49 4,037.97 32,259,749.1 9 40,319,282.3 9 239,43 4,504.77 35.87 % 34.63 % 29,057,673.1 4 5,320,866.243.80% OthersNewpigfarmsbuiltbyBeijingXinliu655,00 0,000.00 614,12 8,025.14 16,387,313.7 2 238,11 7,246.03 392,39 8,092.83 96.26 % 96.81 % 38,349,860.2 7 8,711,267.543.99% OthersNewpigfarmsbuiltbyLonghai NewHope621,65 0,000.00 528,28 2,583.14 17,158,314.5 4 186,65 9,580.14 358,78 1,317.54 87.74 % 88.12 % 20,684,495.9 4 6,336,567.913.94% OthersNewpigfarmsbuiltbyLaixiXinliu500,00 0,000.00 261,84 3,593.17 31,977,929.7 3 293,82 1,522.90 58.76 % 50.00 % 50,839,554.2 4 8,529,588.603.80% OthersNewpigfarmsbuiltbyXiangzhouXinhao474,94 0,000.00 188,66 1,724.02 9,418,661.16 20,000.00 198,06 0,385.18 41.71 % 45.50 % 19,894,469.6 5OthersNewpigfarmsbuiltbyWuheNewHope463,40 0,000.00 349,80 7,277.77 25,472,749.5 3 62,970.00 4,615,698.69 370,60 1,358.61 80.98 % 80.00 % 99,897,516.5 8 10,801,739.8 64.12% OthersFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.323NewpigfarmsbuiltbyTianjinXinliu390,10 0,000.00 350,62 6,007.29 33,010,142.9 0 383,63 6,150.19 98.34 % 98.00 % 35,858,174.0 6 8,449,328.043.80% OthersNewpigfarmsbuiltbyChenzhouXinhao387,00 0,000.00 282,78 5,114.66 32,745,317.5 6 315,53 0,432.22 81.53 % 84.00 % 26,028,717.3 3 7,218,858.674.41% OthersNewpigfarmsbuiltbyNanningXinliu366,99 0,000.00 137,45 5,628.08 13,049,311.0 4 150,50 4,939.12 41.01 % 40.55 % 27,572,381.9 6 4,024,838.713.80% OthersTotal5,508,550,00 0.00 3,640,778,28 2.07 266,68 4,977.30 465,17 9,078.56 4,615,698.69 3,437,668,48 2.12 416,11 6,557.43 71,544,413.8 714. Productive biological assets(1) Productive biological assets measured at costapplicable □not applicableUnit: yuanItemPlantingbusinessLivestock breeding businessForestryAquaticbusiness TotalImmature MaturedI. Original book value1. Beginningbalance3,496,936,948.726,981,818,463.3110,478,755,412.032. Current increase 1,984,404,964.841,112,517,119.723,096,922,084.56(1) Purchased 119,721,021.782,503,341.38122,224,363.16(2) In-house cultivation 1,856,682,099.231,104,013,876.262,960,695,975.49(3) Molting 5,202,598.020.005,202,598.02(4) Exchange ratechanges2,799,245.815,999,902.088,799,147.893. Current decrease 1,847,894,274.653,013,122,378.394,861,016,653.04(1) Disposal 742,813,194.472,991,644,870.783,734,458,065.25(2) Others 0.000.000.00(3) Exchange ratechanges1,067,203.92636,935.471,704,139.39(4) Herd transfer and 1,104,013,876.2620,840,572.141,124,854,448.40Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.324molting4. Ending balance 3,633,447,638.915,081,213,204.648,714,660,843.55II. Accumulateddepreciation1. Beginningbalance0.002,102,761,152.652,102,761,152.652. Current increase 0.00831,302,014.10831,302,014.10(1) Accrued 0.00828,571,981.56828,571,981.56(2) Exchange ratechanges0.002,730,032.542,730,032.543. Current decrease 0.001,210,583,943.661,210,583,943.66(1) Disposal 0.001,194,778,246.781,194,778,246.78(2) Others 0.000.000.00(3) Exchange ratechanges0.00167,722.76167,722.76(4) Herd transfer andmolting0.0015,637,974.1215,637,974.124. Ending balance 0.001,723,479,223.091,723,479,223.09III. Impairment provision1. Beginningbalance227,156,712.43572,189,648.88799,346,361.312. Current increase(1) Accrued3. Current decrease 227,156,712.43572,189,648.88799,346,361.31(1) Disposal 227,156,712.43572,189,648.88799,346,361.31(2) Others4. Ending balanceIV. Book value1. Ending bookvalue3,633,447,638.913,357,733,981.556,991,181,620.462. Beginning bookvalue3,269,780,236.294,306,867,661.787,576,647,898.07(2) Productive biological assets measured at fair value□applicablenot applicable15. Right-of-use assetsUnit: yuanItemHouses andbuildingsMachineryandequipmentTransportequipmentLand Overall lease Others TotalI. Originalbook value1.Beginningbalance336,701,577.74 23,521,578.3 2 2,368,404.73 4,224,063,64 7.77 2,609,556,22 3.59 8,783,974.06 7,204,995,40 6.21Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.325 2.Currentincrease10,750,198.1 4 1,343,605.322,758,287.83 130,939,828.33 136,940,055.46 282,731,975.08(1) Newcontracts8,667,366.981,343,605.322,758,287.83 130,488,046.50 123,443,576.29 266,700,882.92(2) Contractalteration1,985,748.58 10,251,979.2 8 12,237,727.8 6(3) Exchangerate changes97,082.58451,781.833,244,499.893,793,364.30 3.Currentdecrease37,261,575.9 3 160,092,336.43 275,514,760.44 472,868,672.80(1) Contracttermination37,261,575.9 3 125,327,948.57 275,414,802.55 438,004,327.05(2) Contractalteration33,361,507.7 2 33,361,507.7 2(3) Exchangerate changes1,402,880.1499,957.891,502,838.03(4) Decreaseinsubsidiaries4.Endingbalance310,190,199.95 24,865,183.6 4 5,126,692.56 4,194,911,13 9.67 2,470,981,51 8.61 8,783,974.06 7,014,858,70 8.49II.Accumulateddepreciation1.Beginningbalance119,597,270.03 8,430,681.43687,666.36 342,079,158.56 637,524,091.47 857,466.85 1,109,176,33 4.70 2.Currentincrease35,493,927.5 4 2,382,313.59451,052.03 110,004,529.26 207,348,772.18 223,687.02 355,904,281.62(1)Accrued35,433,935.3 6 2,382,313.59451,052.03 109,963,801.90 206,668,328.39 223,687.02 355,123,118.29(2) Exchangerate changes59,992.1840,727.36680,443.79781,163.33 3.Currentdecrease21,552,756.6 9 14,064,897.8 7 108,025,335.82 143,642,990.38(1)Disposed(2) Contracttermination20,553,820.4 4 10,036,765.1 3 99,393,170.9 8 129,983,756.55(3) Contractalteration998,936.253,933,204.588,532,420.09 13,464,560.9 2(4) Exchangerate changes94,928.1699,744.75194,672.91(5) Decreaseinsubsidiaries4.Endingbalance133,538,440.88 10,812,995.0 2 1,138,718.39 438,018,789.95 736,847,527.83 1,081,153.87 1,321,437,62 5.94Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.326III.Impairmentprovision1.Beginningbalance2.Currentincrease(1)Accrued3.Currentdecrease(1)Disposed4.EndingbalanceIV. Bookvalue1.Ending bookvalue176,651,759.07 14,052,188.6 2 3,987,974.17 3,756,892,34 9.72 1,734,133,99 0.78 7,702,820.19 5,693,421,08 2.55 2.Beginningbook value217,104,307.71 15,090,896.8 9 1,680,738.37 3,881,984,48 9.21 1,972,032,13 2.12 7,926,507.21 6,095,819,07 1.51Other remarks:16. Intangible assets(1) Details of intangible assetsUnit: yuanItem Land use right PatentsNon-patentedtechnologyOthers TotalI. Original book value1. Beginningbalance1,908,656,445.714,516,777.06661,124,557.552,574,297,780.322. Currentincrease72,802,718.2734,796,167.68107,598,885.95(1) Purchased 57,323,565.9734,781,421.5292,104,987.49(2) In-house R&D(3) Increase due tobusiness combination(4) Exchange rate 15,479,152.3014,746.1615,493,898.46Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.327changes3. Currentdecrease11,988,754.9575,336.5112,064,091.46(1) Disposed 8,090,155.0469,398.118,159,553.15(2) Exchange ratechanges3,898,599.915,938.403,904,538.314. Ending balance 1,969,470,409.034,516,777.06695,845,388.722,669,832,574.81II. Accumulatedamortization1. Beginningbalance341,105,480.992,658,592.41366,458,637.70710,222,711.102. Currentincrease20,496,349.80615,649.1429,783,101.4350,895,100.37(1) Accrued 19,540,384.69615,649.1429,768,355.2449,924,389.07(2) Exchange ratechanges955,965.1114,746.19970,711.303. Currentdecrease5,495,221.2043,601.395,538,822.59(1) Disposed 5,474,784.0137,821.885,512,605.89(2) Exchange ratechanges20,437.195,779.5126,216.704. Ending balance 356,106,609.593,274,241.55396,198,137.74755,578,988.88III. Impairmentprovision1. Beginningbalance2. Currentincrease(1) Accrued3. Currentdecrease(1) Disposed4. Ending balanceIV. Book value1. Ending bookvalue1,613,363,799.441,242,535.51299,647,250.981,914,253,585.932. Beginning bookvalue1,567,550,964.721,858,184.65294,665,919.851,864,075,069.22Percentage of the intangible assets resulting from in-house research and development of the company at the end of this period inthe balance of intangible assets: 0.00%(2) Land use right with certificate of title pendingUnit: yuanItem Book value Why title certificate pendingFuxin Liuhe Farming Co., Ltd.9,499,759.40Incomplete paperwork, in the process ofsecuring permitsLiuhe Feed (Huai'an) Co., Ltd.3,976,963.84Incomplete paperwork, in the process ofsecuring permitsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.328Wudi Liuhe Xinyang Food Co., Ltd.2,666,666.66Incomplete paperwork, in the process ofsecuring permitsFuxin Liuhe Farming Co., Ltd. BreedingPoultry Branch1,588,762.74Incomplete paperwork, in the process ofsecuring permitsLinshu Liuhe Feed Co., Ltd.1,592,976.32Incomplete paperwork, in the process ofsecuring permitsYingtan New Hope Feed Co., Ltd.767,143.96Incomplete paperwork, in the process ofsecuring permitsOther remarks17 Development expenditureUnit: yuanItemBeginningbalanceCurrent increase Current decreaseEndingbalanceInternaldevelopmentexpenditureOthersRecognized asintangible assetsIncluded incurrent profitor lossContruction ofmanagement systemplatform17,782,988.086,689,106.6324,472,094.71Total 17,782,988.086,689,106.6324,472,094.71Other remarks18. Goodwill(1) Original book value of goodwillUnit: yuanName of invested entities or eventforming goodwillBeginning balanceCurrent increase Current decreaseEnding balanceFormed due tobusinesscombinationOthers Disposal OthersNew Hope Liuhe Investment Co., Ltd.58,567,474.8058,567,474.80Beijing Kinghey Food Co., Ltd.19,091,431.4519,091,431.45Chengdu Fenglan Technology Co.,Ltd.36,276,456.4836,276,456.48Chengdu Century Investment Co.,Ltd.398,573,665.34398,573,665.34Beijing Porridge Jiahe EnterpriseManagement Co., Ltd.80,314,997.5680,314,997.56Hefei Huaren Farming Group Co.,Ltd.6,118,302.826,118,302.82Xiantao Liuhe Feed Co., Ltd.422,276.77422,276.77Sheyang Liuhe Feed Co., Ltd.2,194,351.612,194,351.61Anhui Wanxi White Goose StockSeed Farm Co., Ltd.1,958,093.801,958,093.80Linxi Hexing Feed Co., Ltd.3,535,449.753,535,449.75Yangling Besun Agricultural IndustryGroup Co., Ltd.280,514,799.76280,514,799.76Weinan Zhengneng FarmingTechnology Co., Ltd.19,920,121.9719,920,121.97Laiyang Xinmu Breeding Co., Ltd.251,371,600.00251,371,600.00Zhengzhou Quansheng Farming 98,349,399.0598,349,399.05Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.329Technology Co., Ltd.Total 1,257,208,421.161,257,208,421.16(2) Provision for goodwill impairmentUnit: yuanName of invested entities or event forminggoodwillBeginning balanceCurrent increase Current decreaseEnding balanceAccrued Others Disposal OthersBeijing Kinghey Food Co., Ltd.10,418,225.0910,418,225.09Hefei Huaren Farming Group Co., Ltd.6,118,302.826,118,302.82Xiantao Liuhe Feed Co., Ltd.422,276.77422,276.77Anhui Wanxi White Goose Stock Seed FarmCo., Ltd.1,958,093.801,958,093.80Linxi Hexing Feed Co., Ltd.3,535,449.753,535,449.75Laiyang Xinmu Breeding Co., Ltd.24,784,849.8424,784,849.84Total 47,237,198.0747,237,198.07Information about asset group or asset group portfolio to which goodwill belongs(1) Method for goodwill impairment test: based on comparison between the present value of future recoverable cash flow of assetgroup to which goodwill belongs and the sum of the existing book net asset value of assets group and the value after restoration ofgoodwill of minority shareholders.(2) Accrual of provision for goodwill impairment: the amount of goodwill impairment is determined by the difference between theestimated present value of recoverable cash flow and the sum of the company’s existing book value and value after restoration ofthe goodwill of minority shareholders.Description of the goodwill impairment test process, key parameters (such as the forecast period growth rate, stable period growthrate, profit rate, discount rate and forecast period when forecasting the present value of future cash flow, etc.) and the method forrecognition of goodwill impairment loss:Effects of goodwill impairment test19. Long-term deferred expensesUnit: yuanItem Beginning balance Current increaseCurrent amountamortizedOther decreases Ending balanceExpenditure onimprovement ofassets104,890,120.706,150,310.7935,907,542.19 -13,168.2575,146,057.55Rental expenses offactory buildings andequipment3,283,260.18530,127.451,745,300.71 -12,021.632,080,108.55Others 78,432,684.6210,394,970.8237,379,129.48 -538,351.7051,986,877.66Total 186,606,065.5017,075,409.0675,031,972.38 -563,541.58129,213,043.76Other remarks20. Deferred income tax assets/ deferred income tax liabilities(1) Deferred income tax assets not offsetUnit: yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.330ItemEnding balance Beginning balanceDeductible temporarydifferenceDeferred incometax assetsDeductible temporarydifferenceDeferred incometax assetsAsset impairment provision 451,322,736.0196,546,903.98378,093,407.5089,787,821.95Profits unrealized through internaltransactions141,476,252.0135,302,554.57154,866,022.3138,649,997.19Deductible loss 1,778,337,205.47423,975,723.481,794,365,893.39430,883,487.38Change in fair value of held-for-trading financial assets12,283,352.451,347,056.585,562,819.80647,806.76Guarantee indemnity reserve anddeferred income, etc.60,301,027.5915,064,816.2862,364,969.3112,803,276.31Share-based payment 88,439,250.3019,521,662.8434,241,417.687,588,990.36Total 2,532,159,823.83591,758,717.732,429,494,529.99580,361,379.95(2) Deferred income tax liabilities not offsetUnit: yuanItemEnding balance Beginning balanceTaxable temporarydifferenceDeferred incometax liabilitiesTaxable temporarydifferenceDeferred incometax liabilitiesChange in fair value of held-for-trading financial assets82,055,083.765,949,604.6398,398,047.975,097,630.38Taxable value of assets lower thanbook value275,550,848.4168,061,516.84283,355,228.2869,994,530.20Total 357,605,932.1774,011,121.47381,753,276.2575,092,160.58(3) Deferred income tax assets or liabilities presented by net amount after offsetUnit: yuanItemEnding amountmutually offsetbetween deferredincome tax assets andliabilitiesEnding balance ofdeferred income taxassets or liabilities afteroffsetBeginning amountmutually offsetbetween deferredincome tax assets andliabilitiesBeginning balance ofdeferred income taxassets or liabilities afteroffsetDeferred income taxassets568,110.24591,190,607.49455,791.52579,905,588.43Deferred income taxliabilities568,110.2473,443,011.23455,791.5274,636,369.06(4) Details of unrecognized deferred income tax assetsUnit: yuanItem Ending balance Beginning balanceDeductible loss 3,799,491,391.173,004,055,836.52Asset impairment provision 187,345,985.40165,865,926.88Total 3,986,837,376.573,169,921,763.40Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.331(5) Deductible losses on unrecognized deferred income tax assets will become due in the following yearsUnit: yuanYear Ending amount Beginning amount Remarks2023315,215,226.42365,059,846.61 2024240,133,135.94255,234,722.97 2025250,306,228.64350,895,690.05 2026665,715,041.72704,605,037.45 20271,261,909,436.861,328,260,539.44 20281,381,427,548.01Total 4,114,706,617.593,004,055,836.52Other remarks21. Other non-current assetsUnit: yuanItemEnding balance Beginning balanceBook balanceImpairmentprovisionBook value Book balanceImpairmentprovisionBook valueAmounts prepaid forlong-term assets999,325,000.02999,325,000.02555,733,994.29555,733,994.29VAT input tax to bededucted585,976,768.90585,976,768.90457,201,424.81457,201,424.81Total 1,585,301,768.921,585,301,768.921,012,935,419.101,012,935,419.10Other remarks:22. Short-term borrowings(1) Short-term borrowings by categoryUnit: yuanItem Ending balance Beginning balancePledge loans 10,000,000.00Mortgage loans 46,309,890.0054,537,537.02Guaranteed loans 2,158,393,691.712,396,161,293.49Credit loans 7,418,758,122.714,810,943,665.35Borrowings against bill discounting 6,665,927,406.685,448,598,907.56Borrowings against L/C discounting 415,958,413.88164,665,814.92Negotiable credit certificate of accountsreceivable217,376,900.3963,248,253.17Factoring of accounts receivable 1,031,989,301.25391,716,031.71Plus: interest payable on borrowings 42,552,504.4219,521,188.22Total 17,997,266,231.0413,359,392,691.44Remarks on categorization of short-term borrowings:(1) The mortgage loans and asset mortgages are presented as follows:Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.332CollateralsOriginal bookvalue ofcollateralAmount ofmortgageloanLand and house properties of New Hope Turkey Feed and Farming Food Import & Export andIndustry Ltd.2,560,052.802,309,890.00Land and house properties of Wuwei Hope Feed Co., Ltd.14,517,979.3410,000,000.00Land and house properties of Wuhan Guoxiong Feed Technology Co., Ltd.28,492,596.7510,000,000.00Land and house properties of Laiwu Changlong Industrial Development Co., Ltd.64,549,853.4920,000,000.00Land and house properties of Anhui Baixin Feed Co., Ltd.1,838,000.004,000,000.00Total 111,958,482.38 46,309,890.0 0(2) The details of guaranteed borrowings are presented as follows:Names of the guarantor and the guaranteed Ending balanceGuarantee provided by New Hope Liuhe Co., Ltd. For Kunming New Hope AgriculturalTechnology Co., Ltd.40,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Kunming New Hope Animal Nutritious FoodCo., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Wulong New Hope Liuhe Feed Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Huanggang New Hope Feed Technology Co.,Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ningxia New Hope Ruminant AnimalNutritious Food Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Xiangyang New Hope Liuhe Feed Co., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Guangzhou Liuhe Feed Co., Ltd.97,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Laiwu New Hope Liuhe Food Co., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yanggu Liuhe Luxin Food Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Lipu Xinhao Farming Technology Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin Xinliu Farming Technology Co., Ltd.80,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope Singapore Pte. Ltd.982,408,485.92Guarantee provided by New Hope Liuhe Co., Ltd. for Nanchong New Hope Feed Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangxi New Hope Farming Technology Co.,Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning New Hope Farming TechnologyCo., Ltd.35,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Liaoning Kinghey Food Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shandong New Hope Liuhe Group Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Qingdao Liuhe Feed Co., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hubei Tuanfeng New Hope Feed Co., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. For Yuncheng Dingtai Feed Co., Ltd.10,000,000.00Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. for Qingdao Tianrun Food Co.,Ltd.2,3600,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Sichuan New Hope Animal NutritionTechnology Co., Ltd.194,385,205.79Guarantee provided by New Hope Liuhe Co., Ltd. for Guangdong Jiahao Agricultural Products Co.,Ltd.30,000,000.00Guarantee provided by Feidong County SMEs Financing Guarantee Co., Ltd. for Anhui New HopeFeed Co., Ltd.35,000,000.00Guarantee provided by Liu’an Financing Guarantee Co., Ltd. and Liu’an Jin’an FinancingGuarantee Co., Ltd. for Anhui Xinhua Animal Husbandry Technology Co., Ltd.20,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Santai New Hope Farming Technology Co.,Ltd.21,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Qiandongnan New Hope FarmingTechnology Co., Ltd.20,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yishui Liuhe Feed Co., Ltd.10,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Fuxin Liuhe Farming Co., Ltd.100,000,000.00Total 2,158,393,691.71Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.333(2) Short-term borrowings overdue but not repaidThe short-term borrowings overdue but not repaid at the end of this period totaled 0.00 yuan.23. Held-for-trading financial liabilitiesUnit: yuanItem Ending balance Beginning balanceHeld-for-trading financial liabilities 18,749,771.396,025,418.96Wherein:Derivative financial liabilities 18,749,771.396,025,418.96Financial liabilities designated as measured at fair value through profit or loss 77,611.81Wherein:Financial liabilities designated as measured at fair value through profit or loss 77,611.81Total 18,749,771.396,103,030.77Other remarks:The derivative financial liabilities are futures contracts and interest rate swaps purchased.24. Notes payableUnit: yuanCategory Ending balance Beginning balanceCommercial acceptance bills 861,222,239.61367,535,369.20Bank acceptance bills 2,884,849,694.432,365,360,026.62L/C 786,324,773.24Total 4,532,396,707.282,732,895,395.82The notes payable overdue and unpaid at the end of this period totaled 0.00 yuan.25. Accounts payable(1) Presentation of accounts payableUnit: yuanItem Ending balance Beginning balanceAccounts payable 10,310,425,622.2511,564,714,386.86Total 10,310,425,622.2511,564,714,386.8626. Contract liabilitiesUnit: yuanItem Ending balance Beginning balanceContract liabilities 2,249,428,800.692,173,108,069.79Total 2,249,428,800.692,173,108,069.79Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.33427. Payroll payable(1) Presentation of payroll payableUnit: yuanItem Beginning balance Current increase Current decrease Ending balanceI. Short-term compensation 1,031,469,711.284,526,743,351.204,426,149,524.321,132,063,538.16II. Post-employment benefits-defined contribution plan8,531,016.63279,989,732.33279,248,897.619,271,851.35III. Termination benefits 5,665,363.462,935,080.642,935,080.645,665,363.46Total 1,045,666,091.374,809,668,164.174,708,333,502.571,147,000,752.97(2) Presentation of short-term compensationUnit: yuanItem Beginning balance Current increase Current decrease Ending balance1. Wage, bonus, allowance andsubsidy656,229,314.954,075,681,501.383,978,538,683.56753,372,132.772. Employee benefits 18,236.28245,761,786.75245,778,519.801,503.233. Social insurance costs 1,005,063.65149,601,084.44149,366,635.561,239,512.53Wherein: medical insurancecosts650,521.28134,971,875.63134,749,357.63873,039.28Industrial injuryinsurance costs328,467.8012,849,244.8112,837,313.93340,398.68Maternity insurancecosts26,074.571,779,964.001,779,964.0026,074.574. Housing provident fund 119,325.7013,667,317.9613,662,323.96124,319.705. Trade union outlays andemployee education expenditure374,097,770.7035,329,412.0632,101,112.83377,326,069.936. Short-term paid absence 6,702,248.616,702,248.61Total 1,031,469,711.284,526,743,351.204,426,149,524.321,132,063,538.16(3) Presentation of defined contribution planUnit: yuanItem Beginning balance Current increase Current decrease Ending balance1. Basic endowmentinsurance7,842,186.99266,351,926.25265,629,220.518,564,892.732. Unemploymentinsurance costs644,876.7710,438,033.6210,410,669.93672,240.463. Comprehensiveinsurance43,952.873,199,772.463,209,007.1734,718.16Total 8,531,016.63279,989,732.33279,248,897.619,271,851.35Other remarksThe company participates in endowment insurance and unemployment insurance programs established by the governmentaccording to provisions, whereby the company pays contributions each month according to the rules of social security bureau;Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.335apart from the aforesaid monthly contributions, the company no longer assumes further payment obligation and the correspondingexpenditures are charged to the current profit or loss or costs of related assets as and when incurred.There was no amount in arrears in the payroll payable; the wage, bonus, allowance and subsidy are expected to be fully paidfrom July to August 2023, and the social insurance contributions will be paid to the social security bureau in July 2023.28. Taxes payableUnit: yuanItem Ending balance Beginning balanceVAT 49,828,843.3550,193,761.78Enterprise income tax 183,863,337.58230,152,774.01Personal income tax 19,113,954.2121,050,019.58Urban maintenance and construction tax 5,741,149.146,470,707.51Educational surcharge 2,514,802.452,906,573.94Local educational surcharge 1,678,827.471,939,539.51Water conservancy fund 691,506.12725,232.95Land use tax 14,630,997.5610,981,538.08Real estate tax 15,514,084.6510,784,129.04Stamp duty 28,307,134.8227,487,716.22Others 43,781,168.2739,972,381.38Total 365,665,805.62402,664,374.00Other remarks29. Other payablesUnit: yuanItem Ending balance Beginning balanceDividends payable 54,676,437.5250,538,246.74Other payables 4,648,287,972.394,713,876,319.05Total 4,702,964,409.914,764,414,565.79(1) Dividends payableUnit: yuanItem Ending balance Beginning balanceDividends on ordinary shares 54,676,437.5250,538,246.74Total 54,676,437.5250,538,246.74Other remarks, the cause of non-payment of significant dividends payable contained that are more than one year overdue isrequired to be disclosed:Item Ending balance Beginning balance Reasons for non-paymentbeyond 1 year1. Dividends on ordinary shares 54,676,437.5250,538,246.74Incl.: ExceptionalAssetsLimited 7,012,936.6524,917,905.50 Already declared, but not yetclaimed by the other party.Shandong Rongda Agricultural Development Co.,Ltd.10,000,000.0010,000,000.00Already declared, but not yetclaimed by the other party.Chengdu Jinjing Trading Co., Ltd.10,107,761.51Shandong Hongjun Food Group Co., Ltd.2,647,808.19Yishui County City State-owned Assets Operation 1,185,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.336Co., Ltd.Xu Shugen 1,057,234.47Wuwei Qingquan Agricultural Development Co., Ltd.258,603.13258,603.13Pang Zhen 223,689.92Li Zhongming 102,378.60Nie Xinyong 37,865.42Wuhan Agricultural Group Equity Investment Co.,Ltd.7,252,119.96Bank of Communications Financial AssetsInvestment Co., Ltd.30,152,777.782. Dividends on preferred shares/perpetual bondsclassified as equity instrumentsTotal 54,676,437.5250,538,246.74(2) Other payables1) Other payables presented by nature of amountUnit: yuanItem Ending balance Beginning balanceTemporary borrowings 386,319,786.72557,798,361.68Various deposits and marginstemporarily retained2,925,303,337.992,924,804,853.68Managed secured funds 31,701,976.2917,449,354.44Accrued expenses 203,241,687.41200,462,222.09Payments for share transfer 57,163,567.8183,536,691.44Payments for right-of-use assets 344,546,104.26310,812,803.75Restricted stock repurchase obligation 652,819,872.50593,019,107.50Others 47,191,639.4125,992,924.47Total 4,648,287,972.394,713,876,319.052) Significant other payables aged over 1 yearUnit: yuanItem Ending balance Why not repaid or carried forwardSouth Hope Industrial Co., Ltd.104,563,704.00Not carried forward due to pendingpaperwork for equities and titleLvliang Elephant Farming TechnologyCo., Ltd.53,146,804.25 Temporary borrowingsNangong Civil Affairs Bureau 48,735,000.00 Special fundingLuo Xuejun 33,950,697.05Price of share transfer payable that doesnot meet payment conditions andtemporary borrowingsQingshui Township Government 31,883,076.50 Temporary borrowingsYantai Hongda Food Co., Ltd.22,000,000.00Price of share transfer payable that doesnot meet payment conditionsQingdao Shangyu Down Group Co., Ltd.20,290,000.00 Temporary borrowingsDong Baocheng 20,014,777.00 Temporary borrowingsDai Fei 10,946,870.00 Temporary borrowingsSong Lijun 10,044,700.00 Temporary borrowingsAnhui Xinhua Ducks Co., Ltd.9,071,000.00 Temporary borrowingsState-owned Assets Supervision andAdministration Commission of YanglingDemonstration Area9,000,000.00 Temporary borrowingsZhejiang Huatong Meat Product Co.,6,066,447.03 Price and margin of equity transferFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.337Ltd. payable that does not meet the paymenttermsTaiqian County Shunhe Down ProductsCo., Ltd.6,000,000.00 MarginTotal 385,713,075.83Other remarks30. Non-current liabilities due in 1 yearUnit: yuanItem Ending balance Beginning balanceLong-term borrowings due in 1 year 13,012,212,794.4810,813,975,655.04Bonds payable due in 1 year 2,072,939,698.002,158,110,597.64Long-term payables due in 1 year 203,045,926.02120,582,865.56Lease liabilities due in 1 year 564,033,576.25566,724,203.16Total 15,852,231,994.7513,659,393,321.40Other remarks:(1) Long-term borrowings due in 1 year:Item Ending balance Beginning balancePledge loans 312,514,600.00311,514,600.00Mortgage loans 28,717,680.00155,253,240.00Guaranteed loans 7,093,235,545.556,602,573,600.98Credit loans 5,490,123,682.283,668,975,108.77Plus: interest payable on long-termborrowings 87,621,286.6575,659,105.29Total 13,012,212,794.4810,813,975,655.04(2) Bonds payable due in 1 year:Item Ending balance Beginning balanceHope Convertible Bonds 9,615,318.133,918,404.7520 Hope Liuhe (pandemic containmentbond) MTN0012,056,752,600.8421 Hope Liuhe (rural revitalization)MTN0012,031,267,645.6481,666,666.70Hope Convertible Bond 221,724,563.125,437,329.7921 Sichuan New Hope Liuhe ZR0012,332,171.112,335,595.5622 Sichuan New Hope Liuhe ZR0018,000,000.008,000,000.00Total 2,072,939,698.002,158,110,597.64Note 1: long-term borrowings due in one year are detailed in Note VII.33 “Long-term borrowings”.Note 2: bonds payable due in one year are detailed in Note VII.34 “Bonds payable”.Note 3: lease liabilities due in one year are detailed in Note VII.35 “Lease liabilities”.Note 4: long-term payables due in one year are detailed in Note VII.36 “Long-term payables”.31. Other current liabilitiesUnit: yuanItem Ending balance Beginning balanceOutput tax to be transfered 84,528,612.8859,634,114.69Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.338Total 84,528,612.8859,634,114.6932. Reserve for insurance contractItem Ending balance Beginning balanceUnearned premium reserve 85,434,590.4787,803,006.74Guarantee indemnity reserve 133,759,482.4491,930,257.15Total 219,194,072.91179,733,263.8933. Long-term borrowings(1) Long-term borrowings by categoryUnit: yuanItem Ending balance Beginning balancePledge loans 879,637,300.001,037,394,600.00Mortgage loans 153,972,528.80139,996,088.40Guaranteed loans 12,215,425,472.6914,325,002,921.88Credit loans 12,690,561,544.0512,025,479,779.67Total 25,939,596,845.5427,527,873,389.95Remarks on classification of long-term borrowings:(1) Pledge loans and pledges are as follows:PledgesAmount of pledge loanLong-termborrowingsLong-term borrowingsdue in 1 year100% equities in Fucheng Xinhao Farming Co., Ltd.18,889,600.0018,888,800.00100% equities in Gaomi Xinliu Farming Technology Co., Ltd.139,500,000.0031,500,000.00100% equities in Raoyang Xinhao Farming Co., Ltd.63,777,700.0063,777,800.00100% equities in Baiyin New Hope Farming Technology Co., Ltd.171,000,000.0026,000,000.0076.9231% equities in Kangping Xinwang Farming Co. Ltd.154,000,000.0020,000,000.00100% equities in Zhucheng Xinliu Farming Technology Co., Ltd.137,550,000.0031,500,000.00100% equities in Huanghua Xinhao Technology Co., Ltd.,70.7669%equities in Xiangzhou Xinhao Farming Co., Ltd., and 50% equities inBeijing Meihao Meideling Food Co., Ltd.194,920,000.00120,848,000.00Total 879,637,300.00312,514,600.00(2) The mortgage loans and asset mortgages are presented as follows:Collaterals Original book valueof collateralAmount of mortgage loanLong-termborrowingsLong-term borrowingsdue in 1 yearLand of Mianyang New Hope Liuhe FarmingTechnology Co., Ltd.7,233,971.6023,270,000.0014,580,000.00Land and house properties of Taizhou New HopeAgriculture Co., Ltd.39,790,674.7929,000,000.00House properties of Chongqing Guoxiong FeedCo., Ltd.14,708,498.4519,000,000.00Land and house properties of New Hope SingaporeBiotechnology Ltd.46,790,522.0013,702,528.802,137,680.00Land and house properties of Beijing KingheyFood Co., Ltd.185,463,534.2469,000,000.0012,000,000.00Total 293,987,201.08153,972,528.8028,717,680.00(3) The details of guaranteed borrowings are presented as follows:Names of the guarantor and the guaranteed Ending balance of guaranteed loansFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.339Long-termborrowingsLong-termborrowings due in 1yearGuarantee provided by New Hope Liuhe Co., Ltd. for Taizhou New HopeAgriculture Co., Ltd.20,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangmen Liuhe FeedCo., Ltd.79,000,000.00105,500,000.00Guarantee provided by Jining Caixin Puhui Financing Guarantee Co., Ltd. forJiaxiang New Hope Liuhe Food Co., Ltd.9,800,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shandong KingheyFood Co., Ltd.150,473,092.9825,984,981.49Guarantee provided by New Hope Liuhe Co., Ltd. for Yangling BesunAgricultural Industry Group Co., Ltd.66,438,906.8013,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Gaotang XinhaoFarming Co., Ltd.41,875,854.7350,471,236.46Guarantee provided by New Hope Liuhe Co., Ltd. for Hebei Xinhao FuchengAgricultural Technology Co., Ltd.143,460,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hainan Lingao XinliuBreeding Co., Ltd.25,000,000.0020,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yijun XinliuTechnology Co., Ltd.126,500,000.0014,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ningming XinhaoFarming Co., Ltd.240,000,000.0060,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Weinan XinliuTechnology Co., Ltd.376,799,658.0066,400,114.00Guarantee provided by New Hope Liuhe Co., Ltd. for Fuping Xinliu FarmingTechnology Co., Ltd.58,500,000.009,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Suixi Xinhao FarmingCo., Ltd.20,000,000.0010,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Neiqiu Xinliu FarmingTechnology Co., Ltd.250,017,000.0019,993,200.00Guarantee provided by New Hope Liuhe Co., Ltd. for Bijie Xinliu FarmingCo., Ltd.63,360,000.0015,840,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Wulian Xinhao FarmingCo., Ltd.24,249,999.3225,583,333.96Guarantee provided by New Hope Liuhe Co., Ltd. for Xinji Xinliu FarmingTechnology Co., Ltd.165,000,000.0055,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning XinhaoFarming Co., Ltd.168,000,000.0042,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ningbo New HopeLiuhe Farming Co., Ltd.56,250,000.0037,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Liuzhou Xinliu FarmingTechnology Co., Ltd.63,750,000.0012,750,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zibo Xinhao FarmingCo., Ltd.54,330,126.166,396,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hengshui JizhouDistrict Xinhao Farming Co., Ltd.88,800,000.0022,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Tongcheng XinliuFarming Technology Co., Ltd.206,220,793.8155,249,854.00Guarantee provided by New Hope Liuhe Co., Ltd. for Longhui New HopeLiuhe Farming Co., Ltd.40,500,000.008,250,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shan County XinhaoFarming Co., Ltd.54,125,000.0038,350,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Rui’an New Hope LiuheFarming Co., Ltd.40,000,000.009,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Nanjing XinmuFarming Co., Ltd.32,892,858.0021,928,572.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zhejiang YihaiAgricultural Development Co. Ltd.81,040,000.0035,631,250.00Guarantee provided by New Hope Liuhe Co., Ltd. for Dacheng XinhaoTechnology Co., Ltd.51,200,000.008,400,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zhenjiang New HopeLiuhe Farming Co., Ltd.15,000,000.0035,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Xiajiang Xinliu 22,500,000.0015,000,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.340Farming Co., Ltd.Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin Xinliu FarmingTechnology Co., Ltd.150,730,284.1028,008,804.42Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin New HopeLiuhe Farming Technology Co., Ltd.95,781,532.8111,653,951.06Guarantee provided by New Hope Liuhe Co., Ltd. for Lezhi Xinmu FarmingCo., Ltd.195,750,000.0033,750,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Pingyuan XinliuFarming Technology Co., Ltd.30,565,994.008,733,141.16Guarantee provided by New Hope Liuhe Co., Ltd. for Meishan XinmuFarming Co., Ltd.175,500,000.0039,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Julu Xinliu FarmingTechnology Co., Ltd.33,750,000.0016,900,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Guangyuan XinchiFarming Co., Ltd.55,100,000.002,900,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Luding Xinyue FarmingTechnology Co., Ltd.31,300,000.006,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shaoyang XinmuFarming Co., Ltd.31,760,000.004,980,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shiyan Xinyue FarmingTechnology Co., Ltd.66,550,000.0024,200,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Xiangshan HuatongLivestock Co., Ltd.80,000,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope SingaporePte. Ltd.144,516,000.002,529,030,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Nanchong New HopeFeed Co., Ltd.10,000,000.0035,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning New HopeFarming Technology Co., Ltd.22,863,184.20Guarantee provided by New Hope Liuhe Co., Ltd. for Hengnan Muyun Eco-agriculture Co., Ltd.84,000,000.0021,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ruzhou QuanshengFarming Technology Co., Ltd.42,000,000.0021,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ningbo New HopeLiuhe Feed Co., Ltd.47,000,000.002,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Wuwei New HopeLiuhe Feed Co., Ltd.16,300,000.001,480,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hebei Kinghey MeatIndustry Co., Ltd.198,500,000.001,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hainan Chengmai NewHope Farming Co., Ltd.40,000,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Guanling XinmuBreeding Co., Ltd.90,480,000.0018,400,000.00Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. forQingdao New Hope Herun Bio-technology Co., Ltd.3,738,253.79Guarantee provided by New Hope Liuhe Co., Ltd. for Beijing Kinghey FoodCo., Ltd.19,627,120.6717,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Wuqi XinliuTechnology Co., Ltd.65,000,000.0015,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shuozhou XinhaoFarming Co., Ltd.280,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Rugao Xinhao FarmingCo., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hubei Xinhao FarmingCo., Ltd.442,463,872.08106,337,957.24Guarantee provided by New Hope Liuhe Co., Ltd. for Jiaxiang New HopeLiuhe Swine Breeding Co., Ltd.14,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Liaocheng XinhaoFarming Co., Ltd.24,064,290.8548,127,581.74Guarantee provided by New Hope Liuhe Co., Ltd. for Laiyang XinhaoLivestock Co., Ltd.17,000,000.00110,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Tangshan XinhaoFarming Co., Ltd.390,600,000.00119,700,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Donghai Xinhao 60,000,000.0040,000,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.341Farming Co., Ltd.Guarantee provided by New Hope Liuhe Co., Ltd. for Dong’e New HopeLiuhe Swine Breeding Co., Ltd.72,000,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Liaoning XinwangTechnology Co., Ltd.512,734,000.00239,800,900.00Guarantee provided by New Hope Liuhe Co., Ltd. for Kangping XinwangFarming Co., Ltd.116,662,500.0068,335,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Guangyuan XinhaoAgricultural Development Co., Ltd.323,200,000.0071,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Cao County XinhaoFarming Co., Ltd.100,002,176.2789,994,693.00Guarantee provided by New Hope Liuhe Co., Ltd. for Shenze New HopeLiuhe Breeding Co., Ltd.153,970,003.0033,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Laixi New Hope LiuheFarming Co., Ltd.772,439,732.4520,431,613.85Guarantee provided by New Hope Liuhe Co., Ltd. for Anyang XinliuTechnology Co., Ltd.120,000,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Gansu New Hope LiuheFarming Co., Ltd.74,996,600.0030,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Chenzhou XinhaoFarming Co., Ltd.241,500,000.0060,375,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Wuhe New Hope LiuheLivestock Co., Ltd.626,181,495.59165,572,559.16Guarantee provided by New Hope Liuhe Co., Ltd. for Heishan Xinliu FarmingTechnology Co., Ltd.125,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Puyang Xinliu FarmingTechnology Co., Ltd.53,657,104.5227,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Raoyang XinhaoFarming Co., Ltd.50,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Juye Xinhao FarmingCo., Ltd.125,000,000.0050,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zhangwu XinwangFarming Co., Ltd.103,000,000.0010,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Xingren Xinliu FarmingTechnology Co., Ltd.78,375,000.0016,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Guigang XinliuFarming Technology Co., Ltd.149,250,000.0029,850,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Taiqian Xinliu FarmingTechnology Co., Ltd.120,000,000.0040,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yingcheng XinhaoFarming Co., Ltd.289,050,877.1956,107,017.54Guarantee provided by New Hope Liuhe Co., Ltd., Guang’an InvestmentGroup Co., Ltd. And Guang’an Deng Xiaoping Hometown Development FundManagement Co., Ltd. for Guang’an Xinhao Farming Co., Ltd.278,028,852.0035,193,525.57Guarantee provided by New Hope Liuhe Co., Ltd. for Santai New HopeFarming Technology Co., Ltd.100,000,000.0060,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yanting XinhaoFarming Co., Ltd.153,673,000.00150,220,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Ruyuan YaoAutonomous County Xinhao Farming Co., Ltd.42,000,000.0028,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Hengyang XinhaoFarming Co., Ltd.32,504,625.0022,873,625.00Guarantee provided by New Hope Liuhe Co., Ltd. for Dongying XinhaoModern Farming Co., Ltd.144,000,000.00192,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Liquan New HopeLiuhe Farming Co., Ltd.78,000,000.0036,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yantai Xinhao FarmingCo., Ltd.211,158,837.8055,305,924.00Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangxi New HopeLiuhe Farming Technology Co., Ltd.81,375,000.0054,250,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Pucheng XinliuTechnology Co., Ltd.77,516,275.7151,677,534.78Guarantee provided by New Hope Liuhe Co., Ltd. for Chengdu Xinjin XinhaoFarming Co., Ltd.102,807,500.008,450,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.342Guarantee provided by New Hope Liuhe Co., Ltd. for Hezhou Xinhao ModernFarming Co., Ltd.210,000,000.0052,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zhaoqing XinhaoFarming Co., Ltd.155,919,999.9630,040,000.02Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning XinliuFarming Technology Co., Ltd.75,000,000.0018,750,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Longhai New HopeLiuhe Farming Co., Ltd.52,500,000.0035,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Pizhou New HopeLiuhe Farming Co., Ltd.90,000,000.0045,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Beijing Xinliu FarmingTechnology Co., Ltd.164,060,928.0036,005,318.00Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope Liuhe (Zibo)Agricultural Technology Development Co., Ltd.57,517,142.904,542,857.10Guarantee provided by New Hope Liuhe Co., Ltd. for Sichuan New HopeLiuhe Farming Co., Ltd.258,820,000.0023,530,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Zhanjiang GuoxiongFeed Co., Ltd.48,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Laiyang XinmuBreeding Co., Ltd.95,000,000.0031,500,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Yanshi Liuhe Feed Co.,Ltd.28,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Laibin Xinhao FarmingCo., Ltd.174,000,000.0058,000,000.00Guarantee provided by New Hope Liuhe Co., Ltd. for Chongqing New HopeFeed Co., Ltd.160,000,000.00Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. forQingdao Tianrun Food Co., Ltd.49,500,000.00Total 12,215,425,472.697,093,235,545.55Other remarks, including on the interest rate range covered:The range of interest rate on the ending long-term borrowings of the company was 2.15%-6.72%.34. Bonds payable(1) Bonds payableUnit: yuanItem Ending balance Beginning balanceHope Convertible Bonds 921,341,669.50893,720,199.2720 Hope Liuhe (pandemic containmentbond) MTN001 2,056,752,600.8421 Hope Liuhe (rural revitalization)MTN001 2,031,267,645.642,079,235,067.20Hope Convertible Bond 26,929,798,426.396,734,906,837.1521 Sichuan New Hope Liuhe ZR00196,658,417.0697,404,834.1622 Sichuan New Hope Liuhe ZR001388,618,366.12391,596,549.79Bonds payable due in 1 year -2,072,939,698.00 -2,158,110,597.64Total 8,294,744,826.7110,095,505,490.77(2) Increase or decrease in bonds payable (excluding preferred shares, perpetual bonds and otherfinancial instruments classified as financial liabilities)Unit: yuanBond Nomin Issuing Bond Issue Beginn Curren Interes Amorti Curren Conve Minus: EndingFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.343name alvaluedate period amountingbalancetissuancetaccrued atnominalvaluezationofpremium anddiscounttrepaymentrtedintosharesin thecurrentperiodbondspayable duein 1yearbalanceHopeConvertibleBonds4,000,000,00 0.00Jan.03,20206 years3,986,000,00 0.00 893,72 0,199.27 5,696,913.38 21,930,203.5 8 5,646.73 9,615,318.13 911,72 6,351.37 20HopeLiuhe(pandemiccontainmentbond)MTN0 01 2,000,000,00 0.00Mar.09,20203 years1,992,800,00 0.00 2,056,752,60 0.84 11,433,333.2 6 414,06 5.90 2,068,600,00 0.00 21HopeLiuhe(ruralrevitalization)MTN0 01 2,000,000,00 0.00Mar.19,2021 3+2years1,994,000,00 0.00 2,079,235,06 7.20 49,000,000.0 2 1,032,578.46 98,000,000.0 4 2,031,267,64 5.64HopeConvertibleBond 2 8,150,000,00 0.00Nov.2,20216 years8,136,000,00 0.00 6,734,906,83 7.15 16,287,233.3 0 178,62 5,248.40 20,892.46 21,724,563.1 2 6,908,073,86 3.27 21Sichuan NewHopeLiuheZR001 100,00 0,000.00Nov.25,20213 years98,560,000.0 0 97,404,834.1 6 1,977,318.89 257,00 7.35 2,980,743.34 2,332,171.11 94,326,245.9 5 22Sichuan NewHopeLiuheZR001 400,00 0,000.00Mar.31,20223 years394,24 0,000.00 391,59 6,549.79 7,963,173.33 1,021,816.33 11,963,173.3 3 8,000,000.00 380,61 8,366.12Total16,601,600,0 00.00 12,253,616,0 88.41 92,357,972.1 8 203,28 0,920.02 2,181,543,91 6.71 26,539.19 2,072,939,69 8.00 8,294,744,82 6.71(3) Remarks on conditions and time of conversion into shares for convertible corporate bondsAccording to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New HopeLiuhe Co., Ltd. (CSRCApproval [2019] No.1902), the company publicly issued 40 million convertible corporate bonds eachhaving a par value of 100 yuan on January 3,2020, for a total amount of 4 billion yuan and a bond period of 6 years.The nominal rate of convertible corporate bonds issued that time was 0.20% for the first year,0.40% for the second year,0.80% for the third year,1.20% for the fourth year,1.60% for the fifty year and 2.00% for the sixth year, with interest payable perFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.344year, and convertible from the first trading day (July 9,2020) after six months of the end of this issue of convertible bonds(January 9,2020, T+4 days) to the expiry date of the convertible bonds (January 2,2026). Holders may apply for conversion intoshares within the conversion period.The initial conversion price of convertible corporate bonds issued this time is 19.78 yuan/share, which is not lower than theaverage trading price of A-share stocks of the company in 20 trading days prior to the date of announcement of the Prospectus (ifshare price adjustments occurred due to ex-right and ex-dividend within such 20 trading days, the average trading price of tradingdays before adjustment is calculated by the price after corresponding ex-right and ex-dividend adjustments) and the averagetrading price of A-share stocks of the company on the immediately preceding trading day.On April 28,2020, the company held its annual general meeting of 2019, deliberated and approved 2019 Annual ProfitDistribution Plan, announcing to distribute cash dividend of 1.50 yuan (pretax) per 10 shares to all shareholders based on the totalshares on the record date designated in the profit distribution implementation announcement 2019. This profit distribution plan hasbeen fully implemented, and the conversion price of the company was adjusted from 19.78 yuan/share to 19.63 yuan/share,effective as of June 19,2020.On September 18,2020, with the approval of CSRC in the Reply on Approving the Non-public Offering of Shares by NewHope Liuhe Co., Ltd. (CSRCApproval [2020] No.1961), the company privately placed 177,147,918 ordinary shares (A shares) totwo particular investors by means of private placement of stocks. Those shares already registered in Shenzhen Branch of ChinaSecurities Depository and Clearing Co., Ltd. with respect to newly issued shares and were listed on Shenzhen Stock Exchange onOctober 29,2020, for an issue price of 22.58 yuan/share. The convertible bonds issued that time became convertible on July 9,2020, and the total share capital of the company after the issuance was increased to 4,504,101,656 shares calculated on the basis ofthe total share capital of 4,326,953,738 shares of the company as of September 18,2020. According to the related terms of theconvertible corporate bonds, the conversion price of “Hope Convertible Bonds” was adjusted from 19.63 yuan/share to 19.75yuan/share as of October 29,2020. The adjusted conversion price took effect as of October 29,2020.According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and itsSummary deliberated and approved at the 52nd meeting of the 8th board of directors and the annual general meeting of 2021respectively held on April 26,2022 and May 31,2022, and the Proposal on Adjusting Matters Related to the Restricted StockIncentive Plan 2022 and the Proposal on Granting Restricted Stocks to Incentive Beneficiaries for the First Time deliberated andapproved at the 3rd meeting of the 9th board of directors held on July 25,2022, The company granted 33.2750 million restrictedshares to 199 incentive beneficiaries at the price of 7.98 yuan/share on the first grant date of July 25,2022. The source of shares isthe company’s RMBA-share common stock issued by the company to the incentive beneficiaries and the relevant shares havecompleted the registration procedures of newly issued shares in Shenzhen Branch of China Securities Depository and Clearing Co.,Ltd. According to the related terms of the convertible corporate bonds, the conversion price of “Hope Convertible Bonds” wasadjusted from 19.75 yuan/share to 19.66 yuan/share as of September 15,2022.According to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New HopeLiuhe Co., Ltd. (CSRCApproval [2021] No.1351), the company publicly issued 81.5 million convertible corporate bonds eachhaving a par value of 100 yuan on November 2,2021, for a total amount of 8.15 billion yuan and a bond period of 6 years.The nominal rate of convertible corporate bonds issued that time was 0.20% for the first year,0.40% for the second year,0.80% for the third year,1.20% for the fourth year,1.60% for the fifty year and 2.00% for the sixth year, with interest payable peryear, and convertible from the first trading day (May 9,2022) after six months of the end of this issue of convertible bonds(November 8,2021, T+4 days) to the expiry date of the convertible bonds (November 1,2027). Holders may apply for conversioninto shares within the conversion period.The initial conversion price of convertible corporate bonds issued this time is 14.45 yuan/share, which is not lower than theaverage trading price of A-share stocks of the company in 20 trading days prior to the date of announcement of the Prospectus (ifshare price adjustments occurred due to ex-right and ex-dividend within such 20 trading days, the average trading price of tradingFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.345days before adjustment is calculated by the price after corresponding ex-right and ex-dividend adjustments) and the averagetrading price of A-share stocks of the company on the immediately preceding trading day.According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and itsSummary deliberated and approved at the 52nd meeting of the 8th board of directors and the annual general meeting of 2021respectively held on April 26,2022 and May 31,2022, and the Proposal on Adjusting Matters Related to the Restricted StockIncentive Plan 2022 and the Proposal on Granting Restricted Stocks to Incentive Beneficiaries for the First Time deliberated andapproved at the 3rd meeting of the 9th board of directors held on July 25,2022, The company granted 33.2750 million restrictedshares to 199 incentive beneficiaries at the price of 7.98 yuan/share on the first grant date of July 25,2022. The source of shares isthe company’s RMBA-share common stock issued by the company to the incentive beneficiaries and the relevant shares havecompleted the registration procedures of newly issued shares in Shenzhen Branch of China Securities Depository and Clearing Co.,Ltd. According to the related terms of the convertible corporate bonds, the conversion price of “Hope Convertible Bond 2” wasadjusted from 14.45 yuan/share to 14.40 yuan/share as of September 15,2022.(4) Remarks on other financial instruments classified as financial liabilitiesBasic information about other financial instruments such as preferred shares and perpetual bonds outstanding at the end of theperiodNone35. Lease liabilitiesUnit: yuanItem Ending balance Beginning balanceLease payment 7,738,430,844.488,165,150,676.41Unrecognized financing cost -2,727,703,535.09 -2,879,370,916.88Minus: lease due in 1 year -564,033,576.25 -566,724,203.16Total 4,446,693,733.144,719,055,556.37Other remarks:36. Long-term payablesUnit: yuanItem Ending balance Beginning balanceLong-term payables 336,318,277.30165,515,620.11Total 336,318,277.30165,515,620.11(1) Presentation of long-term payables by natureUnit: yuanItem Ending balance Beginning balanceSale and leaseback finance leasepayable 567,666,617.65300,973,827.02Unrecognized financing cost -28,302,414.33 -14,875,341.35Minus: long-term payables due in 1 year 203,045,926.02120,582,865.56Total 336,318,277.30165,515,620.11Other remarks:Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.34637. Deferred incomeUnit: yuanItem Beginning balance Current increase Current decrease Ending balanceReason forformationGovernmentsubsidies433,295,564.4969,781,432.3758,062,171.81445,014,825.05Total 433,295,564.4969,781,432.3758,062,171.81445,014,825.05Projects involving government subsidies:Unit: yuanItems ofliabilitiesBeginningbalanceNewsubsidiesadded inthe currentperiodAmountincluded innon-businessrevenue inthe currentperiodAmountincluded inotherincome inthe currentperiodAmountoffsettingcosts andexpenses inthe currentperiodOtherchangesEndingbalanceAsset-related/income-relatedHeadquarters -Research ofcomprehensiveprevention andcontrol of maininfectiousdiseases ofpoultry andinternationalcooperationplatformconstructionproject (specialfund)54,754.61 3,799.9850,954.63Asset-relatedHeadquarters -Research anddevelopment ofpackagedtechnology andequipment fortreatment andrecycling ofdead livestockand poultry andslaughteringwastes (specialfund)52,721.37 52,721.37Asset-relatedHeadquarters -Formulation ofa standard“FeedIngredientSoybeanProteinConcentrate”50,000.00 50,000.00Income-relatedHeadquarters -Formulation of50,000.00 50,000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.347a standard“FeedIngredientStone Powder”Headquarters -Efficientdevelopmentand utilizationof feedingresources ofbrewing grains(special fund)140,000.00140,000.00Income-relatedHeadquarters -Evaluation ofnew-type cornand soybeanbreeding andnutritionalvalue forlivestock andpoultry21,103.92 21,103.92Asset-relatedHeadquarters -Regulation andmechanismformed by dailyrationcompositionand feedingsystem onhealthy andhigh-qualitymeat oflivestock andpoultry210,40 0.40 210,400.40Asset-relatedHeadquarters -Research of AI-based rapididentificationandcontainmenttechnologysystem fordrug-resistantbacteriatransmittingbetweenhumans andpoultry (specialfund)699,71 0.00 1,947.51697,762.49Asset-relatedHeadquarters -“ExcellentPlan” project ofTech CityTalent Program(special fund)900,00 0.00 900,000.00Income-relatedHeadquarters -Key projectunder “Belt and3,000,0 00.00 3,000,000.0 0Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.348Road” andinternationalcapacitycooperationHeadquarters -Autonomoussystem ofefficient andprecise cuttingof livestock andpoultry meatproducts byrobots (directfunding)694,00 0.00 694,000.00Income-relatedHeadquarters -Knowledgemapconstructionand multimediaman-machinedialogue oftypical pigdiseases(2021Zd0113802-3)(specialfund)330,00 0.00 15,722.47314,277.53Income-relatedHeadquarters -Formulation ofa standard“Puffed corn asfeed matrial”50,000.00 50,000.00Income-relatedHeadquarters -Analysis andearly warningand forecast oftypicallivestock andpoultryepidemicdiseases/2021ZD011380304(special fund)264,00 0.00 88,704.03175,295.97Income-relatedHeadquarters -Applicationdemonstrationof intelligentveterinarycloud servicefor pig diseasediagnosis andactiveprevention andcontrol/2021ZD0113805-3(special fund)440,00 0.00 26,489.81413,510.19Income-relatedHeadquarters -Keytechnologies1,600,0 00.00 492,909.98 1,107,090.0 2Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.349and productcreation forquality andefficiencyimprovement ofnon-grainprotein feed(2021YFD1301004)(specialfund)Headquarters -Research ofnutritionalvalue of bio-manufacturedprotein feedand efficientutilizationtechnology1,800,0 00.00 1,573,392.2 5 226,607.75Income-relatedHeadquarters -Unmanneddisinfectiontechnology forscene-awareand intelligentplanning hoghouse/2021ZD0 113804-04(special fund)260,00 0.00 151,880.80108,119.20Income-relatedHeadquarters -Development ofprecisenutrition andnon-grainnutritionsources forSichuan pig(special fund)990,00 0.00 390,151.48599,848.52Income-relatedHeadquarters -Developmentand applicationof new energyfeed nutritiondatabase anddiversified cornsubstitutiontechnology(special fund)165,000.001,355.61163,644.39Income-relatedShare research -Majoragricultureproject 1 2,081,0 67.38 22,500,000.00 628,577.49 17,175,000.00 6,777,489.8 9Income-relatedShare research -Majoragricultureproject 2 150,00 0.00 99,592.0050,408.00Income-relatedMianyang New 2,344,3152,892.002,191,433.0 Asset-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.350Hope -Industrialdevelopmentfund25.000 relatedGuanghanGuoxiong -Boiler subsidy45,333.16 4,000.0241,333.14Asset-relatedHebei NewHope - Boilersubsidy83,333.26 8,333.3474,999.92Asset-relatedBaoji NewHope - Subsidyfor feed plantproject513,15 8.16 13,157.88500,000.28Asset-relatedBaoji NewHope - Subsidyfor technicalrenovation ofvertical silos79,828.54 1,287.5478,541.00Asset-relatedBaoji NewHope -Integrationproject(workshopelectric controland automatedcomputerbatchingsystem)29,302.36 14,651.1614,651.20Asset-relatedBaoji NewHope - Specialsubsidy forboilerdemolition andrenovation80,000.20 7,999.9872,000.22Asset-relatedHuanggangNew Hope -Land rebate4,452,6 00.89 53,714.82 4,398,886.0 7Asset-relatedHuanggangNew Hope -Subsidy fortechnicalrenovation285,33 3.33 15,999.96269,333.37Asset-relatedHuaihua NewHope -Construction ofstandardizedfactorybuildings1,417,9 16.90 20,749.98 1,397,166.9 2Asset-relatedXiangyangNew Hope -Preferentialpolicy on land3,061,3 24.40 34,591.20 3,026,733.2 0Asset-relatedJiangmen Liuhe- Bonus fundfor R&Dinstitution127,11 2.92 127,112.92Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.351construction oflarge industrialenterprisesJiangmen Liuhe- 2019 Annualscience andtechnologydevelopmentsupport fund137,70 0.00 137,700.00Income-relatedJiangmen Liuhe- “Developmentand applicationof safe andefficientbacteria-enzymecooperativefermentationfeedindustrialization technologyfor ducks”project subsidy100,000.0012,903.2487,096.76Income-relatedJiangmen Liuhe- EngineeringtechnologyR&D centerproject subsidy123.39123.39Income-relatedTechnologycompany -Chengduindustrialecosystemtalent program-special fund50,000.00 50,000.00Income-relatedXinjin Xinhao -“Internet ofThings + SmartAgriculture”new technologypig farm projectconstructionsubsidy2,000,000.0 0 50,000.01 1,949,999.9 9Asset-relatedXinguofu -Fixed assetssubsidy781,87 0.18 27,241.35754,628.83Asset-relatedLaiwu LiuheFood - Landtransfer price2,226,855.9 2 1,698,949.5 2 527,906.40Asset-relatedLaiwu LiuheFood - Boilersubsidy58,828.36 2,666.6456,161.72Asset-relatedYishuiRefrigeration -Multi-energycomplementaryclean heating851,00 0.00 55,500.00795,500.00Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.352project subsidyYishuiRefrigeration -Sewagetreatment tankand sewagetreatmentfurtherimprovementsubsidy637,95 2.00 31,248.00606,704.00Asset-relatedPorridge Jiahe -2018 Industrialstructureadjustmentpromotingsmall andmedium-sizeddevelopmentfund project450,00 0.00 450,000.00Asset-relatedPorridge Jiahe -Chinese styleautomaticcentral kitchencompleteequipmentR&D anddemonstrationproject585,00 0.00 585,000.00Asset-relatedPorridge Jiahe -Beijing gas(fuel) boilerlow nitrogenreformincentive in lieuof fund subsidy164,18 7.05 13,682.22150,504.83Asset-relatedPorridge Jiahe -2021 Enterpriseintelligenttransformationand upgradingproject awardfund1,025,0 00.00 153,750.00871,250.00Asset-relatedPuyang Xinliu -Governmentdonated assets9,843,200.0 0 164,053.32 9,679,146.6 8Asset-relatedQingdao Jiazhi- Special fundfor Qingdao“Future Star”trainingprogram100,000.0016,666.6883,333.32Income-relatedQingdao Jiazhi- 2022 District-level talentpolicy fund250,000.0041,666.66208,333.34Income-relatedQingdao Jiazhi- 2023 1,690,000.0 0 1,690,000.0 0Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.353Shandong keyR&D program(competitiveinnovationplatform) fundQingdao Jiazhi- District-levelexcellent expertworkstationtalent fund100,000.0016,666.6683,333.34Income-relatedQingdao Jiazhi- Specialsubsidy fornew-type R&Dinstitution450,00 0.00 450,000.000.00Income-relatedQingdao Jiazhi- Special fundfor theconstruction ofQingdaoTechnologyInnovationCenter150,00 0.00 350,000.00216,666.68283,333.32Income-relatedDezhou Jinshan- Specialgovernmentsubsidy forrefrigerationequipment491,25 0.00 117,900.00373,350.00Asset-relatedDezhou Jinshan- Boiler roomgovernmentsubsidy29,760.00 7,440.0022,320.00Asset-relatedJiaxiang Food -Governmentland subsidy9,055,1 20.26 103,487.10 8,951,633.1 6Asset-relatedJiaxiang Food -Mordern andefficient animalhusbandrydevelopmentproject subsidy411,66 6.52 32,500.02379,166.50Asset-relatedJiaxiang Food -County andvillagerevitalizationproject award2,431,5 64.00 33,540.00 2,398,024.0 0Asset-relatedLinyiRefrigeration -Solar subsidy248,67 5.00 32,430.00216,245.00Asset-relatedShandongKinghey -Agriculturalcold chainlogistics andwarehouseconstruction1,400,0 00.00 1,400,000.0 0Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.354projectBengbu Food -Land transfertaxes supportand rewards931,76 7.00 931,767.000.00Asset-relatedBengbu Food -Urbaninfrastructuresupport fund186,05 6.00 186,056.000.00Asset-relatedFenglanTechnology -Integratedresearch andindustrialization of keytechnologies inthe productionof safe and highdigestibilitypiglet feed300,00 0.00 300,000.00Income-relatedFenglanTechnology -Newmicroecologicsand biologicalfeed R&D andindustrialization399,47 4.95 103,485.56295,989.39Income-relatedFenglanTechnology -Transformationand applicationproject basedon thebiologicalextraction ofLutein crystalsfrom marigolddried flowers31,942.54 6,182.4625,760.08Income-relatedYangling Besun- 2014Agriculturalcomprehensivedevelopmentprovincialindustrialization project fund2,145,0 00.00 82,500.00 2,062,500.0 0Asset-relatedYangling Besun- 2014provincialmodernagriculturalpark specialfund project3,541,6 66.90 124,999.98 3,416,666.9 2Asset-relatedYangling Besun- 10,000t/aRefrigeration1,200,0 00.04 199,999.98 1,000,000.0 6Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.355house projectYangling Besun- Piglet nursingtechnologyindustrialization demonstrationproject30,000.24 4,999.9825,000.26Asset-relatedYangling Besun- Animaldisease controlcenterconstructionproject214,28 5.70 214,285.700.00Asset-relatedYangling Besun- Branded meatsales networkconstructionproject120,00 0.00 30,000.0090,000.00Asset-relatedYangling Besun- Industrysupport fundfor nationalservice sectordevelopmentguideline funddemonstrationarea2,399,9 99.96 400,000.02 1,999,999.9 4Asset-relatedYangling Besun- Safe andpollution-freepork deepprocessingconstructionproject1,000,0 00.00 1,000,000.0 0Asset-relatedYangling Besun- Safe andpollution-freepork deepprocessingindustrialization project2,800,0 00.00 2,800,000.0 0Asset-relatedYangling Besun- 20,000t/aBagged organicfertilizer and10,000t/a liquidfertilizer project1,235,0 00.14 94,999.98 1,140,000.1 6Asset-relatedYangling Besun- 5000t/a Safeand pollution-free pork deepprocessingplantreconstructionand expansionproject inYangling2,025,0 00.00 337,500.00 1,687,500.0 0Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.356DemonstrationAreaYangling Besun- Standard andlarge-scalecommercial pigfattening baseexpansionproject1,659,5 74.43 85,106.40 1,574,468.0 3Asset-relatedYangling Besun- Whole pigindustry chainqualitytraceability andepidemiccontrol andpreventionsystem project1,210,4 00.00 124,800.00 1,085,600.0 0Asset-relatedYangling Besun- Pig farmwastescomprehensiveutilization andcleanproductionproject5,998,3 00.00 250,200.00 5,748,100.0 0Asset-relatedYangling Besun- Sick and deadpig harmlesstreatmentsystem project3,250,0 00.00 187,500.00 3,062,500.0 0Asset-relatedYangling Besun- Boar stationconstructionproject200,02 8.00 49,998.00150,030.00Asset-relatedYangling Besun- Green porkdeep processingand meatproduct safetytesting centerproject5,999,9 99.96 1,000,000.0 2 4,999,999.9 4Asset-relatedBesun Food -Subsidy forslaughteringbusinessstandardtransformationproject200,00 0.00 100,000.00100,000.00Asset-relatedBesun Bigong -YanglingDemonstrationArea FinancialBureau high-efficiency safepig feedproduction line714,00 0.00 714,000.00Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.357constructionproject fundBigong PigFarm - Nationalpig industrytechnologysystemYanglingcomprehensivetest station430,000.0035,833.37394,166.63Income-relatedYangling Feed- Technicaltransformationproject subsidy927,50 0.00 52,500.00875,000.00Asset-relatedBaoji Jinfeng -Breeding pigfarmconstructionsubsidy892,11 6.70 24,896.28867,220.42Asset-relatedZhidanDingxiang -Hog industrydevelopmentguidance andsupport fund13,199,999.86 400,000.02 12,799,999.84Asset-relatedTongliang NewHope - Digitalworkshopsubsidy908,99 9.96 50,500.02858,499.94Asset-relatedHebei Farming- Kuanchengstandard scalepig farmconstructionproject30,000.00 22,500.007,500.00Asset-relatedRugao Xinhao -Manureresourceutilizationproject subsidy736,62 2.59 52,689.12683,933.47Asset-relatedRugao Xinhao -Governmentsubsidy forecocycle pilotbiogas project125,96 6.83 4,972.38120,994.45Asset-relatedXiajin Farming-Environmentalprotectionsubsidy10,323,647.53 234,628.26 10,089,019.27Asset-relatedXiajin Farming- Roadconstructionsubsidy1,200,0 00.26 49,999.98 1,150,000.2 8Asset-relatedXiajin Farming- Agriculturalmachinery53,223.26 22,810.0230,413.24Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.358purchasesubsidyXiajin Breeding- Agriculturalmachinerysubsidy31,365.83 16,686.3014,679.53Asset-relatedLinshuBreeding Pig -Agriculturalmachinerysubsidy114,16 6.81 4,999.98109,166.83Asset-relatedLinyi BreedingPig -Fermentationtankgovernmentsubsidy776,37 5.79 34,087.02742,288.77Asset-relatedLinyi BreedingPig - Pigmoving out ofmajor countysubsidy111,00 0.23 18,499.9892,500.25Asset-relatedLinyi BreedingPig - Subsidyfor breedingboars and sows367,200.0020,400.00346,800.00Asset-relatedLinyi BreedingPig - Tank-typetricyclegovernmentsubsidy20,719.88 1,480.0219,239.86Asset-relatedRongchang PigFarm - Boarstationconstructionproject900,00 0.40 49,999.98850,000.42Asset-relatedRongchang PigFarm - Pigresourcesubsidy10,000.35 4,999.985,000.37Asset-relatedRongchang PigFarm -Heterotopicfermentationbed projectsubsidy220,68 7.50 6,187.50214,500.00Asset-relatedRongchang PigFarm - Sewagetreatmentconstructionproject subsidy371,66 7.43 17,499.96354,167.47Asset-relatedRongchang PigFarm - Seedintroductionsubsidy313,51 3.52 64,864.86248,648.66Asset-relatedJunan BreedingPig - 2015 1,147,5 38.79 39,570.00 1,107,968.7 9Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.359Moderndevelopmentfund projectJunan BreedingPig - LingnanFarm qualityagriculturalproduct basebrandgovernmentsubsidy130,92 7.21 12,498.00118,429.21Asset-relatedJunan BreedingPig - LingnanFarm exhibitionhall subsidy480,00 0.00 15,000.00465,000.00Asset-relatedJunan BreedingPig - LingnanFarm digitalsystemmanagementand breedingequipmentsubsidy475,01 1.33 49,998.00425,013.33Asset-relatedJunan BreedingPig - LingnanFarm pigindustry healthybreedingsubsidy139,24 6.67 4,380.00134,866.67Asset-relatedHuanghuaXinhao -Industrydevelopmentfund630,00 0.00 45,000.00585,000.00Asset-relatedHuanghuaXinhao - Pigfarmconstructionsubsidy3,988,8 88.88 66,666.72 3,922,222.1 6Asset-relatedLiaochengXinhao -Agriculturalmachinerysubsidy607,28 5.10 43,377.48563,907.62Asset-relatedGaomiBreeding Pig -Standardbreedingsubsidy227,86 2.91 227,862.910.00Asset-relatedLaiyang Xinhao- Roadconstructionsubsidy290,83 3.37 4,999.98285,833.39Asset-relatedTangshanXinhao -Agriculturalproject subsidy1,169,9 99.94 1,169,999.9 4Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.360TangshanXinhao -Decontamination centergovernmentsubsidy2,584,3 50.03 2,584,350.0 3Asset-relatedTangshanXinhao -Agriculturalmachinerysubsidy221,42 9.97 221,429.97Asset-relatedTangshanXinhao - Pigmoving out ofmajor countyincentive1,580,0 00.00 1,580,000.0 0Asset-relatedXiangzhouXinhao - 2020Large-scale pigfarmconstructionsubsidy1,899,3 82.82 75,595.56 1,823,787.2 6Asset-relatedTangshanXinhao -Fermentationtank subsidy450,00 0.00 37,500.00412,500.00Asset-relatedHebei Xinhao -Dayuezhuangpig farmconstructionsubsidy1,922,3 88.05 35,820.90 1,886,567.1 5Asset-relatedXiao CountyBreeding Pig -Pig introductionsubsidy22,633.44 22,633.44Asset-relatedXiao CountyBreeding Pig -Boar stationsubsidy61,666.82 61,666.82Asset-relatedLiaoningXinwang -Governmentsubsidy forlivestock andpoultrystandardizedscale farmproject2,000,0 00.00 3,000,000.0 0 2,500,000.0 2 2,499,999.9 8Asset-relatedYucheng Xinliu- Hog countysubsidy70,000.00 4,666.6765,333.33Asset-relatedKangpingXinwang -(Grain risk fundacount)Agriculturalindustry chain1,127,4 90.00 57,330.00 1,070,160.0 0Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.361upgrading fixedassetinvestmentproject subsidyin 2022GuangyuanXinhao - 20Large-scale pigfarmconstructionsubsidy460,41 6.73 12,499.98447,916.75Asset-relatedChangyiXinhao -Agriculturalmachinerysubsidy126,25 0.00 7,500.00118,750.00Asset-relatedBaiyin Farming- Agriculturalmachinerysubsidy45,022.42 8,185.8636,836.56Asset-relatedYijun Xinliu -4-access and 1-leelingconstructionfund1,102,5 00.08 244,999.98857,500.10Asset-relatedLuochengXinhao -Manurefermentationtank projectsubsidy888,88 8.80 33,333.36855,555.44Asset-relatedLuochengXinhao -Vehicledecontamination centerconstructionsubsidy227,00 0.00 6,000.00221,000.00Asset-relatedLuochengXinhao -Quarantinecenter andsecondarydecontamination centerhousing subsidy96,774.18 23,225.8273,548.36Asset-relatedSheyang Liuhe- Scientific andtechnologicalinnovationbreakthroughbonus 2021 20,000.0020,000.00Income-relatedSheyang Liuhe- Science andtechnologyinnovation fordevelopment371,600.00371,600.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.362bonus 2021Shenze Xinhao- Agriculturalequipmentsubsidy12,891.57 850.0212,041.55Asset-relatedLaizhou Xinhai- Applicationresearch anddevelopmentanddemonstrationconstruction ofbuilding pigventilationmodel (specialaccount...98,757.76 3,726.7295,031.04Asset-relatedLaizhou Xinhai- Cultivatedlandconservationsubsidy17,051.50 43,800.0020,701.5040,150.00Asset-relatedLaizhou Xinhai- Agriculturalmachinerysubsidy52,658.31 52,658.310.00Asset-relatedChenzhouXinhao -Yizhangagriculturalmachinerysubsidy12,930.00 12,930.000.00Asset-relatedDonghaiXinhao - Loaninterest subsidy190,71 6.96 35,957.46154,759.50Income-relatedGansu Xinliu -Improved pigbreed subsidy190,00 0.00 190,000.00Asset-relatedGansu Xinliu -Subsidy for300,000 pigsbreeding andfarmingintegrationproject410,00 0.00 300,000.00110,000.00Asset-relatedGansu Xinliu -Bonus for pigbreeding awardand subsidyproject400,00 0.00 300,000.00100,000.00Income-relatedZhuchengXinliu -Fermentationtank subsidy700,00 0.00 25,002.00674,998.00Asset-relatedWuqi Xinliu -Loan interestsubsidy938,100.00263,598.26674,501.74Income-relatedWuhe Feed - 2,227,429,117.282,198,353.9 Asset-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.363Fixed assetssubsidy71.202 relatedJuye Xinhao -Modernagriculturalindustrial parkproject fund2,220,0 00.00 400,000.0076,666.65 2,543,333.3 5Asset-relatedZhangwuXinwang -Governmentrebate ofcultivated landoccupancy tax12,526,069.49 3,305,625.0 1 9,220,444.4 8Asset-relatedLiuzhou Xinliu- Stable pigproductionproject subsidy1,440,0 00.72 40,000.02 1,400,000.7 0Asset-relatedTai’an Xinchi -Pig breedingsubsidy99,999.92 99,999.920.00Asset-relatedTaian Xinchi -Breeding sowssubsidy69,376.002,392.2866,983.72Asset-relatedTai’an Xinchi -Boarintroductionsubsidy271,35 0.00 271,350.00Asset-relatedGansu Xinhao -Agriculturalmachinerysubsidy93,675.72 47,200.008,597.43132,278.29Asset-relatedGansu Xinhao -Equipmentsubsidy172,25 9.64 15,131.11157,128.53Asset-relatedYingchengXinhao - 2021-2023 Hubeiagriculturalmachinerypurchasesubsidy20,390.00 1,274.4019,115.60Asset-relatedTangshanEnvironmentalProtection -Manuretreatmentstation plantconstructionsubsidy2,057,8 12.55 54,874.98 2,002,937.5 7Asset-relatedSantai Farming- Standard pigfarmconstructionsubsidy83,332.95 83,332.950.00Asset-relatedSantai Farming- Pig farmconstruction47,916.95 12,499.9835,416.97Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.364project subsidySantai Farming- Pig movingout of majorcounty projectsubsidy62,499.65 1,600,000.0 0 69,444.46 1,593,055.1 9Asset-relatedSantai Farming- Breedingsows subsidy226,09 4.58 83,724.33142,370.25Asset-relatedSantai Farming- Projectconstructionsubsidy161,98 3.53 9,917.34152,066.19Asset-relatedSantai Farming- Mordernanimalhusbandry keyproject subsidy85,885.76 30,312.4855,573.28Asset-relatedLiuhe Feed -Annual districtintellectualproperty fundsallocated byLaoshanDistrict MarketSupervisionAdministration280.00280.000.00Income-relatedYanting Xinhao- Municipalagriculturalindustrydevelopmentfund subsidy1,616,6 66.59 100,000.02 1,516,666.5 7Asset-relatedYanting Xinhao- 2,000m3Clean-watertank subsidy124,98 5.00 10,002.00114,983.00Asset-relatedYanting Xinhao- JianheTownship12,000breeding pigfarm manuretreatment andresourceutilizationproject subsidy794,82 0.00 61,002.00733,818.00Asset-relatedYanting Xinhao- Large-scalebiogas projectsubsidy1,037,5 00.00 75,000.00962,500.00Asset-relatedYanting Xinhao- Loan interestsubsidy4,500,000.0 0 1,500,000.0 0 3,000,000.0 0Income-relatedYanting Xinhao- Governmentsubsidy for15,000.00 11,250.003,750.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.3652021 majortechnologycollaborativepromotionprojectLeshanFarming - Pigindustry chainspecial fund244,29 6.18 36,808.92207,487.26Asset-relatedLeshanFarming -Breeding sowssubsidy231,39 4.15 92,000.00126,214.92197,179.23Asset-relatedLeshanFarming -Jinfeng greencycle subsidy2,740,7 07.96 50,442.48 2,690,265.4 8Asset-relatedRuyuan Xinhao- Financialsubsidy formodernagriculturalindustrial parkin pigadvantageousproductionareas2,799,9 99.96 100,000.02 2,699,999.9 4Asset-relatedRuyuan Xinhao- Manureremediationproject subsidy3,383,3 33.36 116,666.64 3,266,666.7 2Asset-relatedYingtan Xinliu- 2020 Fifthbatch of boarsand breedingsowsintroductionsubsidy228,66 6.60 100,041.69128,624.91Asset-relatedYingtan Xinliu- 2021 Finebreed projectsubsidy57,231.71 14,929.9842,301.73Asset-relatedYingtan Xinliu- Breedingsows subsidygranted byAnimalHusbandryBureau319,44 4.43 83,333.34236,111.09Asset-relatedYingtan Xinliu- Breedingsows subsidy550,11 2.51 157,174.98392,937.53Asset-relatedYingtan Xinliu- Subsidies forveterinarydrugs andvaccines152,33 3.33 152,333.330.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.366Yingtan Xinliu- Return ofwater and soilconservationfees295,33 3.32 221,500.0273,833.30Income-relatedYingtan Xinliu- Manurecollectionpipelineconstruction feefrom AnimalHusbandryBureau200,00 0.00 200,000.000.00Income-relatedYingtan Xinliu- One-timeallowance forwork-staytraining112,91 6.66 67,750.0245,166.64Income-relatedYingtan Xinliu- Cold storagesubsidy fromAnimalHusbandryBureau211,78 6.66 57,760.02154,026.64Income-relatedYingtan Xinliu- Subsidy fordecontamination of live pigtransportvehicles in2022 59,000.00 59,000.000.00Income-relatedYingtan Xinliu- Subsidy forharmlesstreatment ofsick and deadpigs in breeding361,90 0.00 197,400.00164,500.00Income-relatedLonghui Xinhai- Governmentsubsidy forlivestock andpoultry manureresourceutilization697,77 7.88 26,666.64671,111.24Asset-relatedTianjin Xinliu -Industry clusterproject subsidy5,000,0 00.00 69,252.10 4,930,747.9 0Asset-relatedTianjinFarming -Industry clustersubsidy4,981,2 28.28 112,630.38 4,868,597.9 0Asset-relatedLezhi Xinhai -Pig insurancesubsidy50,688.00 50,688.00Asset-relatedLongzhouXinhao -Employment17,600.00 17,600.000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.367subsidyLongzhouXinhao - Socialinsurancesubsidy83,198.06 83,198.060.00Income-relatedLongzhouXinhao - One-time allowancefor staying atwork132,40 0.00 132,400.000.00Income-relatedHengyangXinhao -Fermentationtank subsidy95,100.002,627.0592,472.95Asset-relatedHengnanMuyun -Livestock andpoultry wasteresourceutilizationproject fundsorganicfertilizertreatment farmsubsidy113,100.00113,100.00Asset-relatedHezhou Xinhao- Farmconstructionsubsidy1,872,1 06.80 51,525.84 1,820,580.9 6Asset-relatedHezhou Xinhao- Pig supportsubsidy968,88 8.92 26,666.64942,222.28Asset-relatedZhaoqingXinhao -Governmentsubsidy foragriculturalindustrial parkfund4,310,5 26.46 123,157.86 4,187,368.6 0Asset-relatedZhaoqingXinhao -Governmentsubsidy for astrongagriculturaltown5,819,9 20.67 172,868.94 5,647,051.7 3Asset-relatedZhaoqingXinhao -Governmentsubsidy formanureresourceutilization2,550,8 47.52 91,101.66 2,459,745.8 6Asset-relatedNanning Xinliu- 2020 Stablepig productionproject subsidy476,66 6.56 18,333.36458,333.20Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.368of theautomonousregionGuanglv Xinliu- 10,000 Pigfarm incentivein lieu ofsbusidy2,158,3 52.00 863,328.00 1,295,024.0 0Asset-relatedGuanglv Xinliu- Hangzhouphase II seedintroductionsubsidy560,39 8.00 305,664.00254,734.00Asset-relatedGuanglv Xinliu- XiaoshanDistrictimproved pigbreed subsidy20,887.43 9,640.3211,247.11Asset-relatedGuanglv Xinliu- XiaoshanDistrict pigsubsidy497,77 7.70 213,333.36284,444.34Asset-relatedGuanglv Xinliu- XiaoshanDistrict phase Iseedintroductionsubsidy1,120,7 76.55 611,334.00509,442.55Asset-relatedYanchengZhongtai - Pigfarmconstructionsubsidy4,770,8 33.37 124,999.98 4,645,833.3 9Asset-relatedJiangyou PigFarm - 2021Jiangyou pigseed industrymodernagriculturalpark project50,000.02 50,000.020.00Asset-relatedJiangyou PigFarm -“5.12”Postdisasterreconstructionproject1,044,5 83.74 57,499.98987,083.76Asset-relatedJiangyou PigFarm -Jiangyou PigIndustrial Parkbreeding andbreeding relatedtechnologyresearch project122,22 2.25 66,666.6655,555.59Asset-relatedJiangyou PigFarm - Pigindustrializatio1,198,9 97.61 27,906.60 1,171,091.0 1Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.369n projectJiangyou PigFarm - 2021Power city ofseed industryconstructionproject991,66 6.67 49,999.98941,666.69Asset-relatedJiangyou PigFarm - 2019ProvincialFinancialModernAgriculturalDevelopmentProject -Breeding pigperformancemeasurementprojectbreeding pigperformancemeasurementproject subsidy458,33 3.33 250,000.02208,333.31Asset-relatedJiangyou PigFarm - 2021Sichuanbreeding pigperformancemeasurementsubsidy249,99 9.98 249,999.980.00Asset-relatedJiangyou PigFarm - 2021centralgovernmentbreeding pigperformancemeasurementsubsidy620,00 0.02 620,000.020.00Asset-relatedBeijing Xinliu -Pigoptimizationindustrydevelopmentproject subsidy46,203,287.50 1,262,402.7 6 44,940,884.74Asset-relatedBeijing Xinliu -Machinerypurchasesubsidy21,738,550.00 5,051,450.0 0 126,286.26 26,663,713.74Asset-relatedChangxingAnimalHusbandry -Pig productionincrease andsupplyguaranteesubsidy18,118,295.09 637,469.64 17,480,825.45Asset-relatedNew Hope 252,00252,000.00 Income-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.370Farming -Counterpartfunding fromXinjin Eliteprogram0.00 relatedNew HopeFarming -ChengduTalentedDriftersProgram144,00 0.00 144,000.00Income-relatedNanchong NewHope -Nanchong 2017municipalindustrialdevelopmentfund majorindustrialprojects andtechnologicaltransformationproject1,528,6 45.71 62,500.02 1,466,145.6 9Asset-relatedNanchong NewHope -Technicalreform andtransformationupgradingproject9agriculturalproduct deepprocessing)450,00 0.00 18,750.00431,250.00Asset-relatedNanchong NewHope -Technologyachievementtransformtionproject352,18 7.50 13,125.00339,062.50Asset-relatedLuzhou NewHope -Environmentalprotectionsubsidy72,181.50 9,415.0262,766.48Asset-relatedZiyang Jiahao -Scientific andtechnicaltrainingprogram174,09 5.00 174,095.00Income-relatedPengshan NewHope -Integratedresearch of keytechnologies inthe productionof safe and highdigestibility100,00 0.00 100,000.000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.371pigletsYulin NewHope - Pig feedproduction linesubsidy116,66 6.29 14,583.36102,082.93Asset-relatedGuilin NewHope - Guilinpig feedproduction line600 productionunit33,750.00 13,500.0020,250.00Asset-relatedZhanjiangGuoxiong -Equipmenttechnicaltransformationproject subsidy892,70 8.55 55,794.30836,914.25Asset-relatedMaoming Liuhe- Technicaltransformationsubsidy915,33 6.61 27,323.46888,013.15Asset-relatedMaoming Liuhe- 30,000t/aAquaticextruded feedtechnicaltransformationproject award666,57 8.66 42,547.56624,031.10Asset-relatedJieyangGuoxiong -Grain-savingandenvironment-friendly meatand poultryfeeddevelopmentand application(special fund)200,000.0050,000.00150,000.00Asset-relatedJieyangGuoxiong -Boilerimprovementsubsidy58,666.49 6,400.0252,266.47Asset-relatedGanzhou Hope- Governmentsubsidy forspecialtechnicaltransformationproject1,766,6 66.62 100,000.02 1,666,666.6 0Asset-relatedHuaihuaXiangzhu -Raw materialbulk line14,400.00 2,400.0012,000.00Asset-relatedWuhanGuoxiong - 215,33 3.17 19,000.02196,333.15Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.372Natural gasboilergovernmentsubsidyWuwei Hope -Natural gastransformationsubsidy35,333.11 4,000.0231,333.09Asset-relatedHope Food - Akind of wholegrain vegetarianintestine and itspreparationmethod3,333.1 5 3,333.150.00Asset-relatedHope Food -The secondbatch ofChengduYuanjiaoCounty “OneCase OneMeeting”industrial economicdevelopmentfund of XinjinCountyEconomicDevelopmentBureau571,25 5.89 36,231.90535,023.99Asset-relatedHope Food -Yak industrychain project(phase 2)73,500.00 14,700.0058,800.00Asset-relatedHope Food -Boiler lownitrogentransformation30,051.00 30,051.000.00Asset-relatedHope Food -The secondbatch ofprovincialscience andtechnology planprojects in 2022- Keytechnologyresearch andproductapplicationpromotion ofindustrialization of quick-frozen pre-prepared meatproducts420,00 0.00 420,000.00Asset-relatedHope Food -2021 Chengdu300,00 0.00 300,000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.373green foodindustrialecosystemtalent programHope Food - Apatent portfolioof meatprocessingmethods100,00 0.00 100,000.00Income-relatedHope Food -Chengduindustrial circleconstructionand chainstrengthentalent plan100,000.00100,000.00Income-relatedHope Food -Meat foodsafety controlkey technologyand digital coldchain systemresearch andapplicationdemonstration175,000.00175,000.00Income-relatedHope Food -Key technologyforindustrializedproduction ofSichuan-styleconveniencedishes316,00 0.00 184,000.00500,000.00Income-relatedWanxi WhiteGoose -Breeding fund360,000.00360,000.000.00Income-relatedAba Yak - Highquality foragedemonstrationbase10,778.97 7,185.843,593.13Asset-relatedAba Yak - Cowand sheephealthybreedingdemonstrationcentersupportingfixed assets226,49 6.40 16,631.76209,864.64Asset-relatedAba Yak -Technicalimprovement ofcow and sheepslaughteringproduction line108,91 5.37 4,714.68104,200.69Asset-relatedAba Yak - Yakindustry chaintechnology300,30 0.00 300,300.000.00Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.374research andintegrationdemonstrationprojectAba Yak -SouthwestUniversity forNationalitiessubsidy64,600.00 64,600.000.00Asset-relatedHanzhongHope - Boilercoal-to-gasgovernmentsubsidy58,499.99 9,000.0049,499.99Asset-relatedLanzhou NewHope - Boilercoal-to-gasgovernmentsubsidy91,666.45 10,000.0281,666.43Asset-relatedLanzhou NewHope - Work-for-traininggovernmentsubsidy38,200.00 38,200.000.00Income-relatedAnimalHusbandryTechnology -Safe andefficientbiological feedtechnologysystemconstructionand integratedapplication1,250,0 00.00 1,250,000.0 0 0.00Asset-relatedAnimalHusbandryTechnology -Lab renovationproject400,00 0.00 400,000.00Asset-relatedAnimalHusbandryTechnology -New micro-ecological andbiological feedR&D project200,00 0.00 200,000.00Asset-relatedAnimalHusbandryTechnology -Livestock andpoultry productquality andsafety controllaboratoryproject800,00 0.00 800,000.00Asset-relatedAnimal 150,00150,000.00 Income-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.375HusbandryTechnology -ChengduTalentedDriftersProgram -Livestock andpoultry feedminor elementsemissionreductiontechnology0.00 relatedAnimalHusbandryTechnology -ChengduTalentedDriftersProgram - Feedingredientbiologicalfermentationpretreatmenttechnology250,00 0.00 250,000.00Asset-relatedAnimalHusbandryTechnology -Zhuge eliteprogram2,400,0 00.00 2,400,000.0 0Asset-relatedAnimalHusbandryTechnology -Feed industryanalysis andtesting platform38,000.00 38,000.00Asset-relatedAnimalHusbandryTechnology -Highdigestibilitypigletsproductiontechnology70,000.00 70,000.00Asset-relatedAnimalHusbandryTechnology -ChengduTalentedDriftersProgram -Livestock andpoultry feedlow-resistancetechnologyresearch200,00 0.00 200,000.00Income-relatedAnimalHusbandryTechnology - 150,00 0.00 150,000.00Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.376ChengduTalentedDriftersProgram -Establishmentof raw materialeffectivenutrientsevaluation andpredictionsystemAnimalHusbandryTechnology -Special fundsfor theoperation ofkey laboratoriesin SichuanProvince120,00 0.00 120,000.00Income-relatedAnimalHusbandryTechnology -SichuanProvinceEfficient andSafe New FeedTechnicalServicePlatform -Special300,00 0.00 300,000.00Income-relatedCenturyInvestment -Chengdu High-tech ZoneEconomicDevelopmentBureautechnologytransformationsubsidyobtained inDecember 2015 481,66 6.42 85,000.02396,666.40Asset-relatedCenturyInvestment -Sichuan pigindustry chainquality andefficiencyimprovmenttechnologyresearch andintegrationdemonstration(special fund)350,000.00154,417.20195,582.80Income-relatedJingzhou NewHope - Landsubsidy567,75 9.80 7,292.94560,466.86Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.377Jingzhou NewHope - Bridgesubsidy76,940.33 1,010.1075,930.23Asset-relatedHongyuan Yak- Sewagetreatmentsystem upgradeproject subsidyof HongyuanCounty FinanceBureau458,70 0.00 458,700.00Asset-relatedXiaoyi Food -60,000t/aChicken cuttingproduction lineexpansion andbaseconstructionproject2,320,0 01.00 235,932.31 2,084,068.6 9Asset-relatedXiaoyi Food -Baseconstructionproject766,66 5.72 12,672.16753,993.56Asset-relatedXiaoyi Food -Testing labproject1,899,9 99.98 55,882.35 1,844,117.6 3Asset-relatedZhongyangFarming -Henhousesubsidy1,600,5 00.00 2,970,000.0 0 148,500.00 4,422,000.0 0Asset-relatedZhongshanFarming -Improved pigbreed subsidy76,644.68 31,487.3445,157.34Asset-relatedLaiyang Xinmu- Agriculturalmachinerysubsidy9,547.2 7 485.469,061.81Asset-relatedZhengzhouQuansheng -Pig farmgovernmentsubsidy1,850,0 00.04 129,166.66 1,720,833.3 8Asset-relatedBeijingKinghey - Coldchain logisticsproject subsidy3,522,2 73.07 73,636.32 3,448,636.7 5Asset-relatedBeijingKinghey -Energy-savingtechnologicaltransformationproject award141,38 6.05 65,255.2876,130.77Asset-relatedLiaoningKinghey -Fixed assetsinvestment655,29 8.76 357,435.72297,863.04Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.378subsidy projectHebei Kinghey- Boilertransformationsubsidy of airpollutionprevention andcontrol specialfund33,750.00 11,250.0022,500.00Asset-relatedHebei Kinghey- Sewagetreatmentproject subsidy450,00 0.00 24,999.96425,000.04Asset-relatedHuzhouHaihuang -Constructionreward249,24 0.00 96,480.00152,760.00Income-relatedShibing NewHope - Feedprocessingprojectinfrastructureconstructionsubsidy10,000,000.00 666,666.72 9,333,333.2 8Asset-relatedLiuhe Group -Standardizationwork project(special fund)120,000.00120,000.00Income-relatedLiuhe Group -Study of greentea extract onintestinaloxidative stressandmicroorganismsof commercialpigs (specialfund)50,000.0050,000.00Income-relatedLiuhe Group -Qingdao KeyLaboratory ofAnimal FeedSafety (specialfund)500,000.00500,000.00Income-relatedLiuhe Group -Construction ofmodernagriculturalindustrialtechnologysystemwaterfowl(special fund)430,000.00430,000.00Income-relatedLiuhe Group -Screening ofmarine drugsources and100,00 0.00 39,459.5060,540.50Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.379development ofnew drugs fornon-antibiotictreatment ofmulti-drugresistance inpoultry andlivestock(special fund)Liuhe Group -3,000t/a Marineagriculturalbiologicalproducts keytechnologyintegration andindustrialdemonstrationproject (specialfund)18,847.96 18,847.96Asset-relatedLiuhe Group -Technologycenterinnovationcapacitybuilding project(special fund)288,02 2.64 34,368.00253,654.64Asset-relatedLiuhe Group -“China-EUInter-GovernmentalCooperationProgram” -European unionhorizon SFS- 46-2017(special fund)320,72 7.51 146,953.72173,773.79Income-relatedLiuhe Group -Postdoctoralresearchworkstationspecial fund4,550.0 0 50,000.0025,000.0029,550.00Income-relatedLiuhe Group -Study onmicrobialdegradationtechnology ofmycotoxins inprawn feedingredients21,654.00 21,654.00Income-relatedLiuhe Group -Research on themolecularmechanism ofplantpolyphenolsagainstoxidative stress80,000.00 80,000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.380in broilers(special fund)Liuhe Group -Taishanindustry leadingtalents - Keytechnologies forbreeding ofimportanteconomiccharacters inmeat ducks andcultivation andpopularizationof new lines(special fund)1,647,1 88.36 59,912.37 1,587,275.9 9Income-relatedLiuhe Group -Degradation ofmycotoxins inprawn feedingredients byfermentationtechnology(special fund)7,543.8 4 7,543.84Income-relatedLiuhe Group -Livestock andpoultryenvironmentaland healthybreeding modeland productR&D (specialfund)613.45200,000.00200,613.45Income-relatedLiuhe Group -Breeding pigfarm FMDpurificationdemonstrationand promotion(special fund)4,460.4 4 4,460.44Income-relatedLiuhe Group -Technology forEconomy 2020- FMDprevention andpurificationtechnologypromotion andapplication(special fund)92,437.46 8,522.2283,915.24Income-relatedLiuhe Group -Research offormulationtechnology ofenvironment-friendly andantibiotic-freefeed for meat1,459,2 76.53 1,459,276.5 3Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.381and poultry(special fund)Liuhe Group -Meat duckhealthy,efficient andenvironmentalbreeding keytechnologyresearch anddemonstration(special fund)203,12 0.64 203,120.64Income-relatedLiuhe Group -Swine feverandpseudorabiesimmunizationprogramresearch onlarge-scale pigfarms (specialfund)7,718.8 6 7,718.86Income-relatedLiuhe Group -Determinationof acid-solubleprotein in feedingredients(special fund)3,229.4 9 3,229.49Income-relatedLiuhe Group -Rapid detectionmethod of urea-formaldehydepolymer in fishmeal (specialfund)134.25134.25Income-relatedLiuhe Group -Chicken andpig intestinalhealthregulation andantibioticreplacementtechnologypatentnavigationproject (specialfund)8,490.5 7 8,490.57Income-relatedLiuhe Group -Chickenantibiotic-freelow excretionfeed keytechnologyresearch andindustrialization (special fund)198,58 6.53 99,923.5998,662.94Income-relatedLiuhe Group - 193,613,085.44190,525.56 Income-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.382ShandongOverseasEngineer TalentProgramProject -Research andpromotion ofkeytechnologies ofsoybean mealreduction andreplacement(special fund)1.00 relatedLiuhe Group -Sino-europeanfood safetyprocess controlsystem basedon digitalinformationtechnology(special fund)271,65 3.86 356.60271,297.26Income-relatedLiuhe Group -New duckbreedscultivation andindustrialization demonstration(special fund)3,711,2 36.24 132,483.86 3,578,752.3 8Income-relatedLiuhe Group -Digitalintegratedmanagementcapacitybuilding projectof New HopeLiuhe (specialfund)2,000,0 00.00 99,056.60 1,900,943.4 0Income-relatedLiuhe Group -Highreproductiverate whitefeather meatduck breedingtechnologyR&D andapplication(special fund)400,88 5.41 400,885.410.00Income-relatedJinan NewHope - Landtransfer price5,225,6 32.93 70,300.02 5,155,332.9 1Asset-relatedDaqing Liuhe -Support fund3,503,7 00.00 199,999.99 3,303,700.0 1Asset-relatedTaihe NewHope -Governmentland rebate755,08 4.00 47,184.00707,900.00Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.383Shan CountyFood -Governmentsupportedinfrastructurefund7,790,0 00.34 94,999.98 7,695,000.3 6Asset-relatedAnyang Liuhe -Land rebate1,502,6 37.18 22,097.64 1,480,539.5 4Asset-relatedTuanfeng NewHope -Governmentland subsidy74,945.16 23,666.6451,278.52Asset-relatedPingxiang NewHope - Landuse right3,185,5 83.42 227,541.66 2,958,041.7 6Asset-relatedFuyang Liuhe -Land levelingsubsidy3,343,6 97.67 42,104.46 3,301,593.2 1Asset-relatedShanghe Feed -Boiler subsidy111,11 0.98 16,666.6894,444.30Asset-relatedZouchengLiuhe Feed -Land rebate2,556,3 38.04 31,690.14 2,524,647.9 0Asset-relatedZhengzhouHongyuan Feed- Fermentationequipmentresearch fundsubsidy76,389.25 13,888.8662,500.39Asset-relatedHenanDengzhouBranch - Landrebate2,451,6 07.26 33,893.34 2,417,713.9 2Asset-relatedHenanDengzhouBranch - Boilersubsidy33,391.45 4,173.9029,217.55Asset-relatedYanshi Liuhe -Investmentintroductionsubsidy1,919,9 00.43 26,299.98 1,893,600.4 5Asset-relatedTongchengXinhao -Manureresourceutilizationproject subsidy7,128,170.4 5 237,605.64 6,890,564.8 1Asset-relatedWannianXinhai - Coldstorageconstructionproject subsidy60,000.002,479.3557,520.65Asset-relatedTongling NewHope -Infrastructureconstructionsubsidy1,925,8 01.21 73,597.50 1,852,203.7 1Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.384Pingdu Liuhe -Governmentland subsidy1,977,9 55.96 26,549.76 1,951,406.2 0Asset-relatedGaomiBreeding Duck- Agriculturalmachinerysubsidy2,018,7 19.49 77,643.06 1,941,076.4 3Asset-relatedFuxin Farming- Land rebate5,128,7 07.99 58,725.66 5,069,982.3 3Asset-relatedGuantao Feed -Gas boiler lownitrogenrenovationsubsidy44,464.41 3,214.2641,250.15Asset-relatedFuxin Hehui -Fumeng Countylivestock andpoultry scalefarm standardecologicalconstructionproject 2015 2,048,6 11.37 41,666.64 2,006,944.7 3Asset-relatedLaotingXinmeizi -Land subsidy(new)8,680,0 00.00 420,000.00 8,260,000.0 0Asset-relatedLaotingXinmeiziBreeding -Beautifulcountrysideconstructionfund68,191.98 4,813.5663,378.42Asset-relatedLaibin Xinhao -Large-scale pigfarmconstructionsubsidy437,49 8.14 12,499.98424,998.16Asset-relatedLaibin Xinhao -Manureresourceutilizationconstructionproject subsidy2,171,7 47.05 61,425.00 2,110,322.0 5Asset-relatedLaibin Xinhao -Livestock andpoultry manureresourceutilizationproject subsidy2,646,0 01.08 49,000.02 2,597,001.0 6Asset-relatedLaibin Xinhao -Chenliu stablepig productionconstructionproject378,33 3.29 10,000.02368,333.27Asset-relatedLaoting 2,995,837,215.362,958,621.3 Asset-Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.385Shengxiang -Landcompensation36.704 relatedWeifang NewHope - Landpurchasecompensation4,976,1 21.36 61,181.82 4,914,939.5 4Asset-relatedWeifang NewHope - Twonew partyorganizationwork funds6,000.0 0 6,000.00Income-relatedWeifang NewHope - Roadconstructioncompensation80,000.00 80,000.00Income-relatedWeifang NewHope -Research andintegration ofkeytechnologies forhigh-valueutilization ofunconventionalproteiningredients200,00 0.00 200,000.00Income-relatedWeifang NewHope - Keytechnologyresearch andindustrialization of efficientandenvironmentalfriendly layerfeed20,000.00 20,000.00Income-relatedWeifang NewHope - Yuandutalent project476,83 1.28 100,000.00330,886.97245,944.31Income-relatedZunhua Feed -Boiler subsidy48,000.28 7,999.9840,000.30Asset-relatedWeifangHeshengyuan -2018 Fixedassets technicaltransformationsubsidy1,163,7 49.85 93,100.02 1,070,649.8 3Asset-relatedWeifangHeshengyuan -2020 Fixedassets technicaltransformationsubsidy271,51 4.08 16,794.72254,719.36Asset-relatedWeifangHeshengyuan -Land transfer2,550,6 39.65 29,382.72 2,521,256.9 3Asset-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.386price rebateWeifangHeshengyuan -2017 Fixedassets technicaltransformationsubsidy243,43 3.48 21,799.98221,633.50Asset-relatedWeifangHeshengyuan -Importedcooked foodequipment taxrebate436,35 7.40 40,279.14396,078.26Asset-relatedWeifangHeshengyuan -Research andindustrialization of new keytechnologies forbacteriareduction andcolor protectionof chilledchicken food48,000.00 24,000.0024,000.00Income-relatedLinyi Yihe -Governmentriskcompensation125,84 8.70 125,848.70Income-relatedWeifang Liuhe- Research andindustrialization promotion ofkeytechnologies ofenvironment-friendlyantibiotic-freefeed for pig andpoultry58,460.00 58,460.000.00Income-relatedLaiyang LiuheYantai DoubleHundred TalentProject(research anddevelopment,demonstrationand promotionof efficientecological feedformulatechnology forbroilers)200,000.0080,000.00120,000.00Income-relatedFuxin Hehui -Relocationcompensation975,00 0.00 975,000.000.00Income-relatedLijin BreedingDucks - 10,000.00 10,000.000.00Income-relatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.387Subsidy forstandardrevision feeWuhan Liuhe -New shedsubsidy62,500.00 62,500.00Asset-relatedSichuan Trade -Sichuan pigrefinedintelligentbreeding andenvironmentalprecise controlspecial fund2021ZDZX0011 (special fund)289,84 3.76 41,406.24248,437.52Asset-relatedTotal433,29 5,564.4 9 69,781,432.37 39,087,616.09 18,974,555.72 445,014,82 5.05Other remarks:Among deferred income this year, “Other decrease” of 17.1750 million yuan of “Share research-Major agriculture project 1”involves the major agricultural project the company undertook on June 1,2022 as the project lead, which has a total of 5 subjectscompleted by university and enterprise. The new project funding in the first half of this year was 22.5000 million yuan. Inaccordance with the provisions of Several Opinions on Reforming and Improving the Management of Scientific Research Funds ofthe Central Government G.B.F (2021) No.32, the project lead unit shall timely allocate funds to the project participating units,and this year, the company allocated 17.1750 million yuan to the participating units according to the project charter. “Otherchanges” in other deferred income are mainly the impact of loan discount interest write-off of current finance charges.38. Share capitalUnit: yuanBeginningbalanceCurrent increase or decrease (+, -)EndingbalanceNew sharesissuedBonus sharesProvidentfundconvertedinto sharesOthers SubtotalTotal shares4,538,758,09 5.00-436,937.00 -436,937.00 4,538,321,15 8.00Other remarks:Notes:(1) In accordance with the relevant provisions of the Restricted Stock and Stock Option Incentive Plan 2019 (Draft) andAssessment Management Measures of Restricted Stock and Stock Option Incentive Plan 2019, given that the net profit of thecompany in 2022 was negative, not meeting the performance assessment requirements set in the fourth lifting period under theRestricted Stock and Stock Option Incentive Plan 2019 (hereinafter referred to as the “Incentive Plan 2019”), the company decidedto repurchase and cancel a total of 438,750 restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 thathave not been released for sale.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.388(2) According to the resolutions of the second extraordinary general meeting of the company in 2020 and approval of CSRC in theReply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRCApproval [2021] No.1351), the company publicly issued 81.50 million convertible corporate bonds on November 2,2021, each having a par value of100 yuan for a total amount of 8.15 billion yuan, which are convertible from May 9,2022 to November 1,2027. The conversion ofconvertible corporate bonds increased the share capital by 1,813 shares during the period.39. Other equity instruments(1) Basic information about other financial instruments such as preferred shares and perpetual bonds outstanding at theend of the period1) Convertible corporate bondsConvertible Bond 1:As approved by CSRC in the document “CSRCApproval [2019] No.1902”, the company publicly issued 40 million convertiblecorporate bonds with par value of 100 yuan each on January 3,2020, for a total issue amount of 4 billion yuan. With the consentfrom SZSE in the document “S.Z.S. [2020] No.60”, the company’s 4 billion yuan convertible corporate bonds were listed fortrading on SZSE as of February 4,2020, under the bond abbreviation “Hope Convertible Bonds” and bond code “127015”.Duration of the convertible bonds is from January 3,2020 to January 2,2026, convertible from July 9,2020 to January 2,2026.Convertible Bond 2:As approved by CSRC in the document “CSRCApproval [2021] No.1351”, the company publicly issued 81.50 millionconvertible corporate bonds with par value of 100 yuan each on November 2,2021, for a total issue amount of 8.15 billion yuan.With the consent from SZSE, the company’s 8.15 billion yuan convertible corporate bonds were listed for trading on SZSE as ofNovember 29,2021, under the bond abbreviation “Hope Convertible Bond 2” and bond code “127049”. Duration of theconvertible bonds is from November 2,2021 to November 1,2027, convertible from May 9,2022 to November 1,2027.2) Perpetual bondsPerpetual Bond 1: on January 27,2022, Zhongyuan Trust Co., Ltd. (the lender) issued a perpetual debt investment of 200 millionyuan to the company (the borrower) for an initial investment period of 1 year, agreeing that the term of borrowing commencesfrom the date when this perpetual debt investment is actually transferred into the borrower-designated account, which date is thevalue date. Each year after the expiration of the initial investment period is an extended loan period, and the borrower, in onemonth before the expiration of each loan period, has the option to extend the investment period by one year or to repay to thelender the balance of all trust loan principal and all interests and fruits upon the expiration of each investment period. The loaninterest rate within the initial investment period is 6.3% and after the expiration of the initial investment period, the annual interestrate will be increased once a year by 200 base points (2.00%), and by analogy, subject to the maximum loan interest rate of 9.0%.This perpetual bond has been redeemed in the current period.Perpetual Bond 2: on December 20,2022, Bohai International Trust Co., Ltd. (the lender) issued a renewable loan of 800 millionyuan to the company (the borrower) for an initial loan period of 2 years, agreeing that the loan period commences from the datewhen this renewable trust loan is actually transferred into the borrower-designated account, which date is the value date. Each yearafter the expiration of the initial loan period is an extended loan period, and the borrower, one month before the expiration of eachloan period, has the option to extend the loan period by one year or to repay to the lender the balance of all trust loan principal andFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.389all interests and derivative yields upon the expiration of each loan period. The loan interest rate within the initial loan period is6.3% and after the expiration of the initial loan period, the annual interest rate will be increased once a year by 300 base points(3.00%), and by analogy, subject to the maximum loan interest rate of 10.5%.Perpetual Bond 3: on December 29,2022, Lujiazui International Trust Co., Ltd. (the lender) issued a renewable loan of 200million yuan to the company (the borrower), for an initial loan period of 12 months and an indefinite loan period, agreeing that theloan period commences from the date when this perpetual loan is actually transferred into the borrower-designated account, whichdate is the value date. Each 12 months after the expiration of the initial loan period is an extended loan period, and the borrower,on the corresponding date of 12 months after expiration of each loan period and any day thereafter, has the right to redeem theentire loan proceeds of the tranche from the lender at the balance of such loan principal (balance of investmentprincipal=investment principal –investment principal redeemed by the borrower (if any)) plus interest payable (including currentinterest and all interest and penalty interest subject to deferred payment) and any and all other amounts payable but not yet paid.The loan interest rate comprises initial interest rate and reset interest rate, the former of which is 6%, and the interest rate is reseton the expiry date of each loan period, with the reset investment interest rate calculated at the higher of the following two: ①investment interest rate =initial loan interest rate + [300bp];② investment interest rate = base rate at the interest rate resetting date+ initial interest spread +[300bp] (initial interest spread =initial investment interest rate – base rate at the value date), and theinvestment interest rate is limited to a maximum of 9.5%.Perpetual Bond 4: on June 29,2023, Lujiazui International Trust Co., Ltd. (the lender) issued a renewable loan of 230 millionyuan to the company (the borrower), for an initial loan period of 12 months and an indefinite loan period, agreeing that the loanperiod commences from the date when this perpetual loan is actually transferred into the borrower-designated account, which dateis the value date. Each 12 months after the expiration of the initial loan period is an extended loan period, and the borrower, on thecorresponding date of 12 months after expiration of each loan period and any day thereafter, has the right to redeem the entire loanproceeds of the tranche from the lender at the balance of such loan principal (balance of investment principal=investment principal–investment principal redeemed by the borrower (if any)) plus interest payable (including current interest and all interest andpenalty interest subject to deferred payment) and any and all other amounts payable but not yet paid. The loan interest ratecomprises initial interest rate and reset interest rate, the former of which is 6%, and the interest rate is reset on the expiry date ofeach loan period, with the reset investment interest rate calculated at the higher of the following two: ① investment interest rate=initial loan interest rate + [300bp];② investment interest rate = base rate at the interest rate resetting date + initial interest spread+[300bp] (initial interest spread =initial investment interest rate - base rate at the value date), and the investment interest rate islimited to a maximum of 9.5%.(2) Table of changes in financial instruments such as preferred shares and perpetual bonds outstanding at the end of theperiodUnit: yuanOutstanding financialinstrumentsBeginning Current increase Current decrease EndingAmount Book value Amount Book value Amount Book value Amount Book valueHopeConvertibleBonds9,494,876.0 0 191,753,33 0.59 701,401.769,494,806 191,751,92 8.83HopeConvertibleBond 2 81,436,334.00 1,798,155,7 85.24 2635,785.8381,436,071 1,798,149,9 99.41Perpetualbonds1,200,000,0 00.00 230,000,00 0.00 200,000,00 0.00 1,230,000,0 00.00Total90,931,210.00 3,189,909,1 15.83 230,000,00 0.00 333 200,007,18 7.59 90,930,877 3,219,901,9 28.24Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.390Remarks on the current increase or decrease in other equity instruments, causes of changes and basis of related accountingtreatment:40. Capital reserveUnit: yuanItem Beginning balance Current increase Current decrease Ending balanceCapital premium - (share capitalpremium)8,601,790,485.3726,756.291,250,912,987.547,350,904,254.12Other capital reserves 1,934,149,218.80118,577,442.302,052,726,661.10Wherein: changes in other equitiesin invested entity1,832,982,893.811,406,708.361,834,389,602.17Provision for donated non-cashassets received2,544,124.592,544,124.59Others 98,622,200.40117,170,733.94215,792,934.34Total 10,535,939,704.17118,604,198.591,250,912,987.549,403,630,915.22Other remarks, including on current increase or decrease and cause of changes:Notes:(1) Among the current capital premium (equity premium),26,756.29 yuan represents the capital reserve increased by theconversion of “Hope Convertible Bonds” and “Hope Convertible Bond 2” in the current period;(2) Among the current capital premium (equity premium),1,250,912,987.54 yuan represents the capital reserve reduced by theacquisition of minority interests;(3) “Changes in other equities in invested entity” of other capital reserves mainly refer to the part of the company’s share in thecapital reserve changes of China Minsheng Bank and other companies accounted for using equity method, as calculated by thecompany at the shareholding ratio, and the part of the company’s share in other equity change of subsidiaries;(4) Current increase of “Others” represent capital reserves from share-based payment included in owner’s equity41. Treasury sharesUnit: yuanItem Beginning balance Current increase Current decrease Ending balanceMinus: treasury share 1,079,190,858.470.007,498,062.001,071,692,796.47Total 1,079,190,858.470.007,498,062.001,071,692,796.47Other remarks, including on current increase or decrease and cause of changes:Notes:(1) The book balance of treasury shares decreased by 5,157.51 yuan for reduction of 353 treasury shares due to the conversion of“Hope Convertible Bonds” during the period;(2) The book balance of treasury shares decreased by RMB 7,492,904.49 yuan due to the repurchase and cancellation of restrictedshares during the period, which did not affect the number of treasury shares.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.39142. Other comprehensive incomeUnit: yuanItemBeginningbalanceCurrent amountEndingbalanceCurrentamountbeforeincome taxMinus:amountpreviouslyincluded inothercomprehensiveincome andcurrentlytransferredto profit orlossMinus:amountpreviouslyincluded inothercomprehensiveincome andcurrentlytransferredto retainedearningsMinus:income taxexpenseAfter-taxamountattributableto theparentcompanyAfter-taxamountattributableto minorityshareholdersI. Othercomprehensiveincome thatcan not bereclassifiedinto profitor loss47,929,175.67 29,440,095.00 - 3,461,393.5 8 22,080,071.25 7,360,023.7 5 73,470,640.50Othercomprehensiveincome thatcannot betransferredto profit orloss underthe equitymethod51,390,569.25 29,440,095.00 22,080,071.25 7,360,023.7 5 73,470,640.50Change in fairvalue ofinvestments in otherequityinstruments- 3,461,393.5 8 - 3,461,393.5 8 0.00II. Othercomprehensiveincome tobereclassifiedinto profitor loss- 912,686,24 1.64 155,968,50 2.25 136,939,82 8.70 19,028,673.55 - 775,746,41 2.94Wherein:othercomprehensiveincome thatcan be- 75,420,516.46 76,001,380.00 57,001,035.00 19,000,345.00 - 18,419,481.46Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.392transferredto profit orloss underthe equitymethodForeign currencystatementtranslationdifference- 837,265,72 5.18 79,967,122.25 79,938,793.70 28,328.55 - 757,326,93 1.48Total othercomprehensiveincome- 864,757,06 5.97 185,408,59 7.25 - 3,461,393.5 8 159,019,89 9.95 26,388,697.30 - 702,275,77 2.44Other remarks, including on the adjustments to the initially recognized amounts of the effective portion of cash flow hedging profitor loss transferred to the hedged items:43. Surplus reserveUnit: yuanItem Beginning balance Current increase Current decrease Ending balanceLegal surplus reserve 3,450,852,957.31494,495.443,450,358,461.87Total 3,450,852,957.31494,495.443,450,358,461.87Remarks on surplus reserve, including on the current increase or decrease and causes of change:Note: the decrease in surplus reserves during the current period was due to the sale of subsidiaries.44. Undistributed profitsUnit: yuanItem Current amount Amount of the previous periodUndistributed profits at the end of theprevious period before adjustment9,472,252,710.5011,182,964,166.86Beginning undistributed profits afteradjustment9,472,252,710.5011,182,964,166.86Plus: net profits attributable to the ownerof the parent company in current period-2,982,653,024.87 -4,139,743,764.00Minus: appropriation of legal surplusreserve0.000.00Ordinary share dividends payable -65,812.500.00Payment of interest on perpetual bonds 32,716,666.67154,056,883.65Other comprehensive income carriedforward to undistributed profit3,461,393.580.00Subsidiary deregistration -494,495.44 -1,266,833.67Ending undistributed profits 6,453,981,933.326,890,430,352.88Breakdown of adjustment to beginning undistributed profits:1) The effect of retrospective adjustments due to the Enterprise Accounting Standards and its new related provisions on thebeginning undistributed profits was 0.00 yuan.2) The effect of changes to accounting policies on beginning undistributed profits was 0.00 yuan.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.3933) The effect of corrections of significant accounting errors on the beginning undistributed profits was 0.00 yuan.4) The effect of change to scope of consolidation due to common control on the beginning undistributed profits was 0.00 yuan.5) The total effect of other adjustments on the beginning undistributed profits was 0.00 yuan.45. Business revenue and operating costsUnit: yuanItemCurrent amount Amount of the previous periodRevenue Cost Revenue CostMain business 69,236,788,082.8068,041,011,382.9362,112,030,662.6961,908,237,146.88Other businesses 216,092,363.34155,417,999.56217,500,413.95155,317,027.49Total 69,452,880,446.1468,196,429,382.4962,329,531,076.6462,063,554,174.37Information related to performance obligationsNoneInformation related to transaction prices allocated to remaining performance obligations:The amount of revenue corresponding to performance obligations already contracted but not yet performed or completed at the endof this reporting period is 2,249,428,800.69 yuan, of which 2,249,428,800.69 yuan is expected to be recognized in 2023.46. Taxes and surchargesUnit: yuanItem Current amount Amount of the previous periodUrban maintenance and construction tax 6,218,236.668,157,854.01Educational surcharge 3,015,515.023,910,704.38Resources tax 1,259,065.38821,108.26Real estate tax 28,356,787.1523,689,293.21Land use tax 27,078,483.2223,370,825.09Vehicle and vessel use tax 556,413.60334,668.39Stamp duty 53,608,344.3139,813,485.11Local educational surcharge 2,017,457.372,595,894.61Environmental protection tax 1,786,169.841,057,201.91Water conservancy fund 1,411,840.951,665,755.38Others 7,160,215.744,236,604.14Total 132,468,529.24109,653,394.49Other remarks:47. Selling expensesUnit: yuanItem Current amount Amount of the previous periodPayroll 748,925,105.55703,907,701.61Office costs 976,631.331,953,345.13Travel expenses 37,529,425.6538,320,876.62Post and telecommunication expenses 961,740.932,394,264.25Machine and materials consumption 2,502,680.082,444,749.73Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.394Amortization of low-value consumables 117,210.38158,504.05Depreciation expenses 2,167,388.302,445,340.93Right-of-use asset depreciation cost 819,317.81379,980.15Rental expenses 5,136,258.365,500,024.83Labor protection expenses 233,613.92284,025.25Transportation expenses 4,515,335.1210,457,378.50Conference expenses 2,705,801.011,607,780.92Water and electricity expenses 168,453.60231,830.39Inspection and quarantine expenses 3,701,250.983,519,754.82Advertising expenses 2,998,797.042,416,471.58Publicity expenses 28,514,511.1922,870,847.96After-sales service expenses 6,363,223.536,172,966.71Handling expenses 25,473,144.7825,506,796.81Warehousing expenses 15,196,177.738,953,393.27Market management expenses 34,845,423.0834,868,490.40Return loss expenses 948,832.572,119,352.67Amortization of revolving materials 1,807,786.561,222,128.14Repair costs 392,887.31Total 927,000,996.81877,736,004.72Other remarks:48. Management expensesUnit: yuanItem Current amount Amount of the previous periodPayroll 1,241,594,047.901,228,707,416.13Office costs 14,807,342.2022,691,291.07Travel expenses 41,140,772.2241,824,995.22Post and telecommunication expenses 11,676,081.7214,376,133.59Machine and materials consumption 26,450,974.7735,379,705.17Amortization of low-value consumables 2,918,246.083,117,067.12Depreciation expenses 339,037,475.96279,806,265.35Right-of-use asset depreciation cost 138,531,689.36158,270,822.25Rental expenses 17,952,596.4537,431,043.05Labor protection expenses 5,398,848.526,275,220.18Repair costs 21,266,212.8850,989,109.62Property insurance expenses 102,561,517.5185,117,608.93Transportation expenses 13,155,925.6633,471,363.29Membership dues and conferenceexpenses8,558,452.229,250,616.84Water and electricity expenses 41,293,527.6044,266,637.95Business entertainment expenses 37,753,977.4543,498,302.73Intermediary fees 118,505,382.09149,325,017.14Inventory loss, destruction and scrapping 9,944,814.4630,140,332.77Environmental protection fee 19,748,160.9230,458,375.88Trademark royalties 3,401,649.163,786,055.43Amortization of intangible assets 43,010,027.5843,067,557.99Amortization of long-term deferredexpenses43,909,486.7539,779,845.95Inspection and test fees 18,071,799.0016,056,378.89Startup costs 2,890.009,854.66Taxes and charges 9,825,895.556,645,997.74Expenses of board of directors 198,369.61222,300.51Heating expenses 7,954,540.9813,158,084.55Mutual fund for breeding 3,908,468.261,507,026.37Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.395Equity incentive expenses 125,822,258.47741,812.52Fund management fee 4,203,405.66Safe production expenses 1,073,849.191,517,771.10Others 3,028,724.33921,062.09Total 2,476,707,410.512,431,811,072.08Other remarks49. R&D expensesUnit: yuanItem Current amount Amount of the previous periodPayroll 89,958,825.43104,758,058.39Office costs 92,565.74206,321.62Travel expenses 4,620,371.584,319,359.01Post and telecommunication expenses 159,277.61252,472.59Direct materials 17,883,224.7621,675,892.11Fuel and power 254,092.20294,076.12Costs of development and manufactureof tools and molds47,535.39Pilot plant test costs 416,919.8756,967.74On-site test costs 20,131.71333,466.00Debugging and maintenance costs 6,579.2029,558.38Inspection and test fees 1,839,633.851,443,018.21Labor protection expenses 181,653.3811,352.27Transportation expenses 226,119.12176,999.45Labor costs 317,806.82192,107.80Training costs 32,039.0727,520.00Design fee 80,267.00233,809.70Expert consulting fee 1,252,058.42342,590.00Cooperative development costs 612,000.001,057,900.00Demonstration, review and inspectionfee9,600.00IP affairs expenses 639,823.92284,532.43Meeting expenses 532,786.34238,986.02Depreciation expenses 4,577,642.544,789,374.42Right-of-use asset depreciation cost 1,220,375.00812,758.50Rental expenses 1,024,445.771,845,683.17Amortization of intangible assets 1,389,066.001,519,623.88Equity incentive expenses 5,122,963.30244,460.94Intermediary fees 278,740.77118,550.81Amortization of long-term deferredexpenses2,807,452.123,907,283.65Others 1,877,481.37814,349.32Total 137,433,942.89150,034,607.92Other remarks50. Financial expensesUnit: yuanItem Current amount Amount of the previous periodInterest expenditure 1,015,887,924.02755,642,004.97Minus: interest revenue 65,172,165.7791,683,189.02Exchange loss 343,230,212.42185,460,140.19Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.396Minus: exchange income 277,795,925.96102,858,480.50Others 13,357,892.3614,421,401.60Total 1,029,507,937.07760,981,877.24Other remarks51. Other revenueUnit: yuanSource of other income Current amount Amount of the previous periodAmortization of deferred income - assets 29,975,213.9323,732,103.67Amortization of deferred income -income9,112,402.164,980,251.87Rebate of handling fee on withheldpersonal income tax2,748,405.624,444,326.67Government subsidy related to dailybusiness activities90,572,484.7469,436,029.68Subtotal 132,408,506.45102,592,711.8952. Investment incomeUnit: yuanItem Current amount Amount of the previous periodIncome on long-term equity investmentsaccounted for under the equity method1,016,415,308.301,026,435,491.87Investment income from disposal oflong-term equity investments606,259.99 -2,833,026.52Investment income from disposal ofheld-for-trading financial assets43,064,834.8327,503,896.43Investment income from disposal ofother equity instruments6,784,000.00Total 1,066,870,403.121,051,106,361.78Other remarks53. Income from change in fair valueUnit: yuanSource of income from change in fairvalueCurrent amount Amount of the previous periodHeld-for-trading financial assets -37,502,990.862,274,903.97Wherein: income from change infair value of derivative instruments-37,502,990.862,274,903.97Held-for-trading financial liabilities -22,597,460.41 -3,529,216.09Total -60,100,451.27 -1,254,312.12Other remarks:54. Credit impairment lossUnit: yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.397Item Current amount Amount of the previous periodBad debt loss from other receivables 32,061,345.04 -36,062,005.23Bad debt loss from accounts receivable -64,041,924.00 -28,125,524.43Total -31,980,578.96 -64,187,529.66Other remarks55. Asset impairment lossUnit: yuanItem Current amount Amount of the previous periodII. Loss on inventory revaluation andimpairment loss of contract performancecost-884,764,393.43 -1,328,087,107.41Total -884,764,393.43 -1,328,087,107.41Other remarks:56. Income from asset disposalUnit: yuanSource of income from asset disposal Current amount Amount of the previous periodIncome from disposal of fixed assets 10,155,149.72 -17,806,686.62Income from disposal of construction inprogress-1,781,148.41Income from disposal of productivebiological assets54,694,847.3324,599,325.65Income from disposal of intangible assets 10,570,703.077,547.17Income from disposal of right-of-useassets25,303,610.401,321,081.84Total 98,943,162.118,121,268.0457. Non-business revenueUnit: yuanItem Current amountAmount of the previousperiodAmount included in currentnon-recurring profit or lossPenalty revenue 6,869,419.236,007,637.116,869,419.23Gains on inventory taking 27,997.69585,750.5627,997.69Payables that cannot be paid 43,329,494.1728,097,423.4943,329,494.17Revenue from insuranceindemnities12,635,104.5715,465,458.2612,635,104.57Others 61,584.8119,957.0061,584.81Total 62,923,600.4750,176,226.4262,923,600.4758. Non-operating expenditureUnit: yuanItem Current amountAmount of theprevious periodAmount included in current non-recurring profit or lossExternal donations 5,393,488.486,643,690.805,393,488.48Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.398Total loss from scrapping and destruction ofnon-current assets249,411,343.15625,552,186.98249,411,343.15Wherein: loss from scrapping and destructionof fixed assets6,352,184.098,008,656.286,352,184.09Loss from scrapping and destruction ofproductive biological assets231,827,617.43615,526,156.05231,827,617.43Loss from scrapping of intangible assets 31,576.2331,576.23Loss from destruction and scrapping ofconstruction in progress11,199,965.402,017,374.6511,199,965.40Penalty expenses 5,312,982.385,513,270.995,312,982.38Indemnities/liquidated damages 62,604,181.0766,717,487.6762,604,181.07Extraordinary losses 967,367.0054,131,466.43967,367.00Loss on inventory taking 48,543.52804,096.3448,543.52Others 10,430.2810,822.4710,430.28Total 323,748,335.88759,373,021.68323,748,335.88Other remarks:59. Income tax expenses(1) Statement of income tax expensesUnit: yuanItem Current amount Amount of the previous periodCurrent income tax expense 171,623,268.83139,375,940.65Deferred income tax expense -10,033,098.561,381,982.47Total 161,590,170.27140,757,923.12(2) Process of adjustment to accounting profits and income tax expensesUnit: yuanItem Current amountTotal profits -3,430,974,236.77Income tax expenses calculated at statutory/applicable tax rates -857,743,559.19Effect of subsidiaries subject to different tax rates -161,844,554.57Effect of adjustment to income tax in previous periods -21,073,174.66Effect of nontaxable income 1,007,887,846.64Effect of non-deductible costs, expenses and losses 13,500,700.53Effect of use of deductible losses with respect to whichdeferred income tax assets are not previously recognized-14,982,825.02Effect of deductible temporary difference or deductible loss ofdeferred income tax assets not recognized in the current period350,788,814.74Effect of profit or loss of joint ventures and affiliates accountedfor using equity method-154,737,234.63Effect of additional R&D cost deduction -205,843.57Income tax expense 161,590,170.27Other remarksFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.39960. Other comprehensive incomeRefer to Note VII.42 “Other comprehensive income” for details.61. Items in cash flow statement(1) Other cash received in connection with operating activitiesUnit: yuanItem Current amount Amount of the previous periodVarious temporary receipts received 485,717,430.56396,547,699.46Various subsidies received 145,927,322.73153,679,809.95Interest revenue from bank deposits 38,309,887.4238,242,695.66Penalty revenue 6,869,419.236,007,637.11Others 12,516,372.8015,574,769.29Total 689,340,432.74610,052,611.47Remarks on other cash received in connection with operating activities:(2) Other cash paid in connection with operating activitiesUnit: yuanItem Current amount Amount of the previous periodVarious provisional payment and depositpaid917,374,263.291,793,425,249.74Bank commission, etc.13,357,892.3614,421,401.60Selling expenses 173,164,188.21171,002,982.03General and administrative expenses 522,113,468.40644,651,021.38R&D expenses 32,350,696.0034,003,048.14Penalty expenses 5,312,982.385,513,270.99Others 67,997,669.5573,372,000.94Total 1,731,671,160.192,736,388,974.82Remarks on other cash paid in connection with operating activities:(3) Other cash received in connection with investing activitiesUnit: yuanItem Current amount Amount of the previous periodFutures margin recovered and interestrate swap collections259,931,955.40108,562,993.32Equity transfer price received in advance 12,000,000.00Total 271,931,955.40108,562,993.32Remarks on other cash received in connection with investing activities:(4) Other cash paid in connection with investing activitiesUnit: yuanItem Current amount Amount of the previous periodPrepaid investment 3,390,000.002,500,000.00Interest rate swaps paid 62,614,994.2619,088,883.49Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.400Various margins, etc/ 149,385,337.97100,993,622.60Cash reduced due to disposal ofsubsidiaries41,334,815.33Total 256,725,147.56122,582,506.09Remarks on other cash paid in connection with investing activities:(5) Other cash received in connection with financing activitiesUnit: yuanItem Current amount Amount of the previous periodContribution for ESOP 83,724,947.50Cash received from sale-and-leaseback 300,000,000.00Futures margin obtained by warehousereceipt pledge at Dalian CommodityExchange62,991,232.00Recovery of margin for borrowings 445,782.98Total 383,724,947.5063,437,014.98Remarks on other cash received in connection with financing activities:(6) Other cash paid in connection with financing activitiesUnit: yuanItem Current amount Amount of the previous periodRefund of ESOP 29,504,257.31Payment for sale-and-leasebackfinancing lease53,741,770.75Due diligence and guarantee fees forborrowings, etc.4,852,830.18Cash distributed to minority shareholdersdue to company deregistration2,800,037.71Cash paid for acquisition of minorityequities2,597,000,000.00219,700.00Payment of rental and interest on right-of-use assets309,371,982.62387,061,027.24Various margins for issuance ofperpetual bonds and notes discounted182,881,556.64Redemption of perpetual bonds 200,000,000.002,760,000,000.00Return of futures margin obtained bywarehouse receipt pledge at DalianCommodity Exchange41,023,232.00Total 3,189,618,010.683,378,838,383.77Remarks on other cash paid in connection with financing activities:62. Additional information about cash flow statement(1) Additional information about cash flow statementUnit: yuanAdditional information Current amount Prior amount1. Net profit adjusted to cash flow from operating activities:Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.401Net profits -3,592,564,407.04 -5,165,108,921.68Plus: assets impairment provision 916,744,972.391,392,274,637.07Depreciation of fixed assets, depletion of oil and gas assets and depreciationof productive biological assets2,072,079,380.342,375,211,157.38Depreciation of right-of-use assets 355,123,118.29429,495,963.52Amortization of intangible assets 49,924,389.0749,994,378.81Amortization of long-term deferred expenses 75,031,972.3879,599,467.67Loss from disposal of fixed assets, intangible assets and other long-termassets (“-” for gains)-98,943,162.11 -8,121,268.04Loss from retirement of fixed assets (“-” for gains) 249,411,343.15625,552,186.98Loss from changes in fair value (“-” for gains) 60,100,451.271,254,312.12Financial expenses (“-” for gains) 1,081,322,210.48838,243,664.66Loss on investment (“-” for gains) -1,066,870,403.12 -1,051,106,361.78Decrease in deferred income tax assets (“-” for increase) -11,685,373.80743,398.80Increase in deferred income tax liabilities (“-” for decrease) -1,193,357.831,679,056.93Decrease in inventories (“-” for increase) 1,020,369,083.92 -2,400,013,909.92Decrease in operating receivables (“-” for increase) 634,161,525.83 -2,647,332,950.25Increase in operating payables (“-” for decrease) 239,042,904.924,344,108,033.27OthersNet cash flows from operating activities 1,982,054,648.14 -1,133,527,154.462. Significant investment and financing activities involving no cash receipt orexpenditure:Debts converted to capitalConvertible corporate bonds due in 1 yearFixed assets under financing lease3. Net change in cash and cash equivalents:Ending balance of cash 9,102,514,781.4910,692,312,366.01Minus: beginning balance of cash 9,714,019,174.2414,292,784,234.11Plus: ending balance of cash equivalentsMinus: beginning balance of cash equivalentsNet increase in cash and cash equivalents -611,504,392.75 -3,600,471,868.10(2) Net cash paid for acquisition of subsidiaries in the current periodUnit: yuanAmountWherein:Wherein:Plus: cash or cash equivalents paid in the current period for businesscombinations occurred in the previous periods6,072,582.05Wherein:Exceptional Assets Limited 3,822,582.05Qinzhou New Hope Liuhe Farming Technology Co., Ltd.1,000,000.00Hangzhou Guanglv Breeding Co., Ltd.1,250,000.00Net cash paid for acquisition of subsidiaries 6,072,582.05Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.402Other remarks:(3) Net cash received from disposal of subsidiaries in the current periodUnit: yuanAmountCash or cash equivalents received in the current period fordisposal of subsidiaries in the current period1,905,000.00Wherein:Gaomi Liuhe Pig Farming Co., Ltd.1,905,000.00Minus: cash and cash equivalents held by subsidiaries at thedate of loss of control172.03Wherein:Gaomi Liuhe Pig Farming Co., Ltd.172.03Plus: cash or cash equivalents received in the current period fordisposal of subsidiaries in previous periods256,870,500.00Wherein:Rong County Xinmu Farming Co., Ltd.43,029,300.00Zizhong Xinyue Farming Technology Co., Ltd.38,992,560.00Nanchong Xinhao Farming Co., Ltd.46,342,560.00Anyue New Hope Liuhe Farming Co., Ltd.11,329,920.00Yanyuan Xinliu Farming Technology Co., Ltd.29,961,000.00Gulin County Xinliu Ecological Farming Technology Co., Ltd.16,094,820.00Chongqing Pengshui Xinliu Farming Technology Co., Ltd.17,666,940.00Hanyuan Xinliu Farming Technology Co., Ltd.7,361,520.00Chongqing Qianjiang District Xinhao Farming TechnologyCo., Ltd.14,477,820.00Neijiang New Hope Liuhe Farming Technology Co., Ltd.20,345,580.00Wushan County Xinchi Farming Technology Co., Ltd.11,268,480.00Net cash received from disposal of subsidiaries 258,775,327.97Other remarks:(4) Composition of cash and cash equivalentsUnit: yuanItem Ending balance Beginning balanceI. Cash 9,102,514,781.499,714,019,174.24Wherein: cash on hand 20,187,552.7418,939,835.86Bank deposits readily available for payment 8,695,394,859.488,960,168,119.87Other monetary capital readily available for payment 386,932,369.27734,911,218.51III. Ending balance of cash and cash equivalents 9,102,514,781.499,714,019,174.24Wherein: cash and cash equivalents of the parent company or subsidiariesinside the group restricted from use948,272,428.70698,411,008.11Other remarks:Monetary capital not recognized as cash and cash equivalents is 2,048,272,428.70 yuan, of which: 948,272,428.70 yuan ismonetary capital with limited use, and 1,100,000,000.00 yuan is time deposit to be held to maturity.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.40363. Notes to items in the statement of changes in equitySpecify the item name included in “Others” adjustment to the ending balance of the previous year and the amounts of adjustment,etc.:64. Assets with restricted ownership or use rightUnit: yuanItem Ending book value Cause of restrictionMonetary capital 948,272,428.70Purchase of futures, margins of guarantee companies, note margins andreclamation margins, etc.Fixed assets 844,381,711.78Used as collateral for long and short-term borrowings and for financial sale andleasebackIntangible assets 38,297,553.95 Used as collateral for long and short-term borrowingsLong-term equityinvestments865,194,100.00 Used as pledge for long-term borrowingsTotal 2,696,145,794.43Other remarks:Note 1: the company took the land and house properties of New Hope Turkey Feed and Farming Food Import & Export andIndustry Ltd., land and house properties of Wuwei Hope Feed Co., Ltd., land and house properties of Wuhan Guoxiong FeedTechnology Co., Ltd., land and house properties of Laiwu Changlong Industrial Development Co., Ltd., land and house propertiesof Anhui Baixin Feed Co., Ltd., land of Mianyang New Hope Liuhe Farming Technology Co., Ltd., land and house properties ofTaizhou New Hope Agriculture Co., Ltd., house properties of Chongqing Guoxiong Feed Co., Ltd., land and house properties ofNew Hope Singapore Biotechnology Ltd., and land and house properties of Beijing Kinghey Food Co., Ltd. as collaterals for longand short-term borrowings of a total amount of 229.0001 million yuan.Note 2: subsidiaries of the company, including Tongliao Xinhao Farming Co., Ltd., Weifang Heshengyuan Food Co., Ltd.,Deyang New Hope Liuhe Food Co., Ltd., Yangling Besun Agricultural Industry Group Co., Ltd., Jingzhou New Hope Feed Co.,Ltd., Nanning New Hope Farming Technology Co., Ltd., Hebei Kinghey Meat Industry Co., Ltd., Huzhou HaihuangBiotechnology Co., Ltd., Weifang Liuhe Feed Co., Ltd., Gaomi Liuhe Breeding Co., Ltd., Feicheng Liuhe Breeding Co., Ltd.,Weifang New Hope Liuhe Feed Technology Co., Ltd., signed contracts with financial leasing companies to transfer part of theirmachinery and equipment to these financial leasing companies and lease them back. After the lease term expires, the ownership ofsuch machinery and equipment are acquired with a nominal amount of 1 yuan. As this sale and leaseback transaction does notconstitute a sale, the underlying assets are not subject to termination of recognition and long-term payables equal to the transferincome are recognized. As of June 30,2023, the book value of the above sale and leaseback transaction related fixed assets was629.0054 million yuan, and the corresponding long-term payables (including long-term payables due within one year) was539.3642 million yuan.Note 3: the company’s subsidiary Beijing New Hope Liuhe Biotechonlogy Industry Group Co., Ltd. took its capital contributionsof 40 million yuan to Fucheng Xinhao Farming Co., Ltd.,60 million yuan to Gaomi Xinliu Farming Technology Co., Ltd.,168million yuan to Huanghua Xinhao Technology Co., Ltd.,168 million yuan to Xiangzhou Xinhao Farming Co., Ltd.,91 millionyuan to Raoyang Xinhao Farming Co., Ltd.,100.89 million yuan to Baiyin New Hope Farming Technology Co., Ltd.,100 millionyuan to Kangping Xinwang Farming Co., Ltd. and 60 million yuan to Zhucheng Xinliu Farming Technology Co., Ltd. as pledges,and the company took its capital contribution of 77.3041 million yuan to Beijing Meihao Meideling Food Co., Ltd. as pledges, toprovide equity pledge guarantees for New Hope Liuhe Co., Ltd. to secure 371 million yuan,114.168 million yuan,340.05 millionFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.404yuan and 366.9339 million yuan financing from China Development Bank Sichuan Branch, ADB, The Export-Import Bank ofChina Sichuan Branch and Postal Savings Bank of China Chengdu Tianfu Sub-branch respectively.65. Foreign-currency monetary items(1) Foreign-currency monetary itemsUnit: yuanItemEnding foreign-currencybalanceExchange rate for translationEnding converted RMBbalanceMonetary capital 1,238,712,702.22Wherein: USD 73,923,351.497.2258534,155,353.20EURHKD 2,274,139.220.921982,096,710.88SGD 780,769.845.34424,172,590.18VND 371,569,876,100.000.00030358112,801,182.99PHP 297,915,995.750.1305142338,882,276.79BDT 2,156,042,515.720.06648999143,355,245.31LKR 446,613,933.040.0234022110,451,753.05IDR 180,406,394,900.000.0004815386,871,091.34MMK 26,303,863,467.270.0034408690,507,911.65EGP 581,155,465.830.23375509135,848,048.22ZAR 3,207,041.090.386383831,239,148.82TRY 1,382,755.910.2783384,820.97LAK 13,345,539,971.690.000374394,996,436.71THB 1,936,638.360.20343397393,978.03NPR 163,680,815.720.055035779,008,299.73INR 72,944,602.540.0884586,452,533.65NGN 6,005,393,801.000.0095073457,095,320.70Accounts receivable 730,172,364.30Wherein: USD 3,672,682.357.225826,538,068.12EUR 0.00HKD 20,335,789.870.9219818,749,191.54VND 425,188,325,000.000.00030358129,078,671.70PHP 289,623,844.540.1305142337,800,033.06BDT 735,883,640.830.0664899948,928,895.92LKR 30,938,414.790.02340221724,027.28IDR 640,915,546,400.000.00048153308,620,063.06MMK 6,703,350,197.330.0034408623,065,289.56EGP 488,722,672.780.23375509114,241,412.36TRY 245,615.560.278368,354.81LAK 3,241,403,990.490.000374391,213,549.24NPR 305,372,298.720.0550357716,806,399.60INR 49,044,607.510.0884584,338,387.89NGN 2,120.470.0095073420.16Other receivables 44,528,217.41Wherein: USD 4,789,728.427.225834,609,619.62HKD 124,292.250.92198114,594.97SGD 26,498.505.3442141,613.28VND 8,681,721,800.000.000303582,635,597.10PHP 6,258,978.960.13051423816,885.82BDT 27,348,952.530.066489991,818,431.58Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.405LKR 5,990,700.880.02340221140,195.64IDR 4,564,861,700.000.000481532,198,117.85MMK 201,749,106.330.00344086694,190.43EGP 4,521,907.570.233755091,057,018.91ZAR 7,216.190.386383832,788.22TRY 221,504.460.278361,644.69INR 28,485.040.0884582,519.73NGN 24,717,699.170.00950734234,999.57Short-term borrowings 1,087,893,844.92Wherein: USD 137,276,111.947.2258991,929,729.66VND 247,280,778,395.000.0003035875,069,498.71NPR 31,764,349.150.055035771,748,175.41IDR 10,000,000,000.000.000481534,815,300.00PHP 2,173,819.770.13051423283,714.41TRY 8,500,000.000.27832,365,550.00EGP 49,974,855.000.2337550911,681,876.73Accounts payable 787,681,697.88Wherein: USD 16,757,088.797.2258121,083,372.18HKD 416,202.990.92198383,730.83SGD 386,731.405.34422,066,769.95VND 381,499,943,300.000.00030358115,815,752.79PHP 605,515,739.320.1305142379,028,420.47BDT 1,069,512,146.720.0664899971,111,851.94LKR 204,073,677.230.023402214,775,775.05IDR 499,121,523,800.000.00048153240,341,987.36MMK 5,950,316,842.300.0034408620,474,207.21EGP 401,263,002.570.2337550993,797,269.28ZAR 85,077.860.3863838332,872.71TRY 3,369,840.350.2783937,826.57LAK 17,804,010,043.000.000374396,665,643.32NPR 200,196,986.410.0550357711,017,995.30INR 125,684,549.750.08845811,117,803.90NGN 949,836,549.440.009507349,030,419.02Other payables 27,858,078.23Wherein: USD 305,413.097.22582,206,853.91SGD 280,995.945.34421,501,698.50VND 10,853,820,100.000.000303583,295,002.71PHP 60,774,809.230.130514237,931,977.43BDT 9,458,601.960.06648999628,902.35LKR 3,288,600.520.0234022176,960.52IDR 16,910,090,700.000.000481538,142,715.97MMK 223,343,510.050.00344086768,493.75EGP 3,711,425.920.23375509867,564.70ZAR 2,309,130.850.38638383892,210.82TRY 1,244,975.670.2783346,476.73LAK 217,440,529.930.0003743981,407.56NPR 7,533,226.940.05503577414,596.95INR 6,740,975.610.088458596,293.22NGN 11,246,374.910.00950734106,923.11Long-term borrowings due in1 year2,561,291,676.60Wherein: USD 354,168,949.687.22582,559,153,996.60SGD 400,000.005.34422,137,680.00Long-term borrowings 158,218,528.80Wherein: USD 20,000,000.007.2258144,516,000.00EURFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.406HKDSGD 2,564,000.005.344213,702,528.80Other remarks:(2) Remarks on overseas operating entities, including disclosure of principal place of business, accountingcurrency and selection basis for important overseas operating entities, as well as the reasons fordisclosure of changes to accounting currency, if any.applicable □not applicableEntity Name Principal place ofbusinessAccountingcurrencyBasis for selection ofaccounting currencyNew Hope Hanoi LLCVietnam VNDLocal principal currencyNew Hope Ho Chi Minh City Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Binh Dinh Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Dong Thap Aquatic Feed Co., Ltd. Vietnam VNDLocal principal currencyThan Hoa New Hope Livestock Services Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Binh Dinh Livestock Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Vinh Long Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Binh Phuoc Livestock Co., Ltd. Vietnam VNDLocal principal currencyNew Hope Vietnam Technological Livestock ServicesCo., Ltd. Vietnam VNDLocal principal currencySichuan New Hope Agriculture (Cambodia) Co., Ltd. Cambodia USDLocal principal currencyNew Hope Pampanga Agriculture Inc. Phillipines PHPLocal principal currencyNew Hope Central Luzon Agriculture Inc. Phillipines PHPLocal principal currencyNew Hope Tarlac Agriculture Inc. Phillipines PHPLocal principal currencyNew Hope Bulacan Agriculture Inc. Phillipines PHPLocal principal currencyNew Hope Isabela Agriculture Inc. Phillipines PHPLocal principal currencyNew Hope Philippines Animal Healthcarae ServicesInc. Phillipines PHPLocal principal currencyNew Hope Davao Agriculture Ltd. Phillipines PHPLocal principal currencyNew Hope Philippines Livestock Inc. Phillipines PHPLocal principal currencyNew Hope Bangladesh Ltd. Bangladesh BDTLocal principal currencyNew Hope Agrotech Bangladesh Ltd. Bangladesh BDTLocal principal currencyNew Hope Farms Bangladesh Ltd. Bangladesh BDTLocal principal currencyXinhe International Trade Co., Ltd. Bangladesh BDTLocal principal currencyNew Hope Animal Nutrition Bangladesh Ltd. Bangladesh BDTLocal principal currencyNew Hope Lanka (Pvt) Limited Sri Lanka LKRLocal principal currencyPTNew Hope Jawa Timur Indonesia IDRLocal principal currencyPTNew Hope Indonesia Indonesia IDRLocal principal currencyPTNew Hope Medan Indonesia IDRLocal principal currencyPTNew Hope Farms Indonesia Indonesia IDRLocal principal currencyPTNew Hope Food Indonesia Indonesia IDRLocal principal currencyPTNew Hope Aqua Feed Indonesia Indonesia IDRLocal principal currencyPTNew Hope Poultry Trade Indonesia Indonesia IDRLocal principal currencyPTCorn Drying Indonesia Indonesia IDRLocal principal currencyNew Hope Singapore Pte. Ltd. Singapore USDLocal principal currencyNew Hope Asia Investment Pte. Ltd. Singapore USDLocal principal currencyNew Hope International Holdings (Pte.) Ltd. Singapore USDLocal principal currencyNew Hope Global Investment Pte. Ltd. Singapore USDLocal principal currencyNew Hope Singapore Premix Pte. Ltd. Singapore USDLocal principal currencyNew Hope Singapore Biotechnology Pte. Ltd. Singapore SGDLocal principal currencyNHCSInvestment Pte. Ltd. Singapore SGDLocal principal currencyMyanmar New Hope Farms Co., Ltd. Myammar MMKLocal principal currencyMyanmar New Hope Agro-Technology Co., Ltd. Myammar MMKLocal principal currencyXinhe Myanmar Agro-technology Co., Ltd. Myammar MMKLocal principal currencyNew Hope Mandalay Co., Ltd. Myammar MMKLocal principal currencyNew Hope Egypt Ltd. Egypt EGPLocal principal currencyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.407New Hope Agriculture (Egypt) Ltd. Egypt EGPLocal principal currencyNew Hope Alexander Ltd. Egypt EGPLocal principal currencyNew Hope Egypt Aquatic Technology Ltd. Egypt EGPLocal principal currencyNew Hope Egypt Poultry Ltd. Egypt EGPLocal principal currencyNew Hope South Africa Ltd. South Africa ZARLocal principal currencyNew Hope Turkey Feed and Farming Food Import &Export and Industry Ltd. Turkey TRYLocal principal currencyNew Hope Laos Co., Ltd. Laos LAKLocal principal currencyNew Hope Agro Business Nepal Pvt. Ltd. Nepal NPRLocal principal currencyNew Hope Kolkata Animal Feed Private Ltd. India INRLocal principal currencyNew Hope Agro-technology Nigeria Ltd. Nigeria NGNLocal principal currencyNote: as detailed in “Note V.9 Foreign currency transactions and translation of foreign currency statements”, the“Undistributed profits” in the owner’s equity is calculated and presented based on the items of net profits and profit distributionafter translation; other items of owner’s equity other than undistributed profits are converted at the spot exchange rate whenoccurring. The difference between the sum of assets and liabilities after translation and the sum of items of owner’s equity isrecognized as other comprehensive income by virtue of foreign currency statement translation difference.All overseas operating entities of the company adopt the currencies in primary economic environments in which they operateas accounting currencies, and none of overseas operating entities changed their accounting currencies in the current period.66. Government subsidy(1) Basic information of government subsidiesUnit: yuanCategory AmountItempresentedAmount included incurrent profit or loss.Headquarters - Efficient development and utilization of feeding resourcesof brewing grains (special fund)140,000.00DeferredincomeHeadquarters - Development and application of new energy feed nutritiondatabase and diversified corn substitution technology (special fund)165,000.00Deferredincome1,355.61Share research -Major agriculture project 122,500,000.00Deferredincome628,577.49Jiangmen Liuhe - “Development and application of safe and efficientbacteria-enzyme cooperative fermentation feed industrialization technologyfor ducks” project subsidy100,000.00Deferredincome12,903.24Xinjin Xinhao - “Internet of Things + Smart Agriculture” new technologypig farm project construction subsidy2,000,000.00Deferredincome50,000.01Laiwu Liuhe Food - Land transfer price 2,226,855.92Deferredincome1,698,949.52Puyang Xinliu - Government donated assets 9,843,200.00Deferredincome164,053.32Qingdao Jiazhi - Special fund for Qingdao “Future Star” training program 100,000.00Deferredincome16,666.68Qingdao Jiazhi - 2022 District-level talent policy fund 250,000.00Deferredincome41,666.66Qingdao Jiazhi - 2023 Shandong key R&D program (competitiveinnovation platform) fund1,690,000.00DeferredincomeQingdao Jiazhi - District-level excellent expert workstation talent fund 100,000.00Deferredincome16,666.66Qingdao Jiazhi - Special fund for the construction of Qingdao TechnologyInnovation Center350,000.00Deferredincome216,666.68Bigong Pig Farm - National pig industry technology system Yanglingcomprehensive test station430,000.00Deferredincome35,833.37Linyi Breeding Pig - Subsidy for breeding boars and sows 367,200.00 Deferred 20,400.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.408incomeLiaoning Xinwang - Government subsidy for livestock and poultrystandardized scale farm project3,000,000.00Deferredincome2,500,000.02Sheyang Liuhe - Scientific and technological innovation breakthroughbonus 2021 20,000.00DeferredincomeSheyang Liuhe - Science and technology innovation for developmentbonus 2021 371,600.00DeferredincomeLaizhou Xinhai - Cultivated land conservation subsidy 43,800.00Deferredincome20,701.50Wuqi Xinliu - Loan interest subsidy 938,100.00DeferredincomeJuye Xinhao - Modern agricultural industrial park project fund 400,000.00Deferredincome76,666.65Taian Xinchi - Breeding sows subsidy 69,376.00Deferredincome2,392.28Gansu Xinhao - Agricultural machinery subsidy 47,200.00Deferredincome8,597.43Santai Farming - Pig moving out of major county project subsidy 1,600,000.00Deferredincome69,444.46Liuhe Feed - Annual district intellectual property funds allocated byLaoshan District Market Supervision Administration280.00Deferredincome280.00Yanting Xinhao - Loan interest subsidy 4,500,000.00DeferredincomeLeshan Farming - Breeding sows subsidy 92,000.00Deferredincome126,214.92Hengyang Xinhao - Fermentation tank subsidy 95,100.00Deferredincome2,627.05Hengnan Muyun - Livestock and poultry waste resource utilization projectfunds organic fertilizer treatment farm subsidy113,100.00DeferredincomeBeijing Xinliu - Machinery purchase subsidy 5,051,450.00Deferredincome126,286.26Jieyang Guoxiong - Grain-saving and environment-friendly meat andpoultry feed development and application (special fund)200,000.00Deferredincome50,000.00Hope Food - Chengdu industrial circle construction and chain strengthentalent plan100,000.00DeferredincomeHope Food - Meat food safety control key technology and digital coldchain system research and application demonstration175,000.00DeferredincomeHope Food - Key technology for industrialized production of Sichuan-styleconvenience dishes184,000.00DeferredincomeWanxi White Goose - Breeding fund 360,000.00Deferredincome360,000.00Century Investment - Sichuan pig industry chain quality and efficiencyimprovment technology research and integration demonstration (specialfund)350,000.00Deferredincome154,417.20Zhongyang Farming - Henhouse subsidy 2,970,000.00Deferredincome148,500.00Liuhe Group - Standardization work project (special fund) 120,000.00DeferredincomeLiuhe Group - Study of green tea extract on intestinal oxidative stress andmicroorganisms of commercial pigs (special fund)50,000.00DeferredincomeLiuhe Group - Qingdao Key Laboratory of Animal Feed Safety (specialfund)500,000.00DeferredincomeLiuhe Group - Construction of modern agricultural industrial technologysystem waterfowl (special fund)430,000.00DeferredincomeLiuhe Group - Postdoctoral research workstation special fund 50,000.00Deferredincome25,000.00Liuhe Group - Livestock and poultry environmental and healthy breeding 200,000.00 DeferredFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.409model and product R&D (special fund) incomeTongcheng Xinhao - Manure resource utilization project subsidy 7,128,170.45Deferredincome237,605.64Wannian Xinhai - Cold storage construction project subsidy 60,000.00Deferredincome2,479.35Weifang New Hope - Yuandu talent project 100,000.00Deferredincome330,886.97Laiyang Liuhe Yantai Double Hundred Talent Project (research anddevelopment, demonstration and promotion of efficient ecological feedformula technology for broilers)200,000.00Deferredincome80,000.00Amortization of deferred income - assets 24,670,295.52Otherincome24,670,295.52Amortization of deferred income - income 7,191,481.60Otherincome7,191,481.60Amortization of deferred income - income 1,799,555.72Financialexpenses1,799,555.72Financial discount on bank loans 1,473,427.80Financialexpenses1,473,427.80Rebate of handling fee on withheld personal income tax 2,748,405.62Otherincome2,748,405.62Government subsidy related to daily business activities 90,572,484.74Otherincome90,572,484.74Total 198,237,083.37 - 135,681,489.97(2) Return of government subsidies□applicablenot applicableOther remarks:VIII. Changes in the scope of consolidation1. Disposal of subsidiariesWhere there were any circumstances in which the company lost control upon a single disposal of investments in subsidiariesyes □noUnit: yuanNameofsubsidiaryPriceofequitydisposalRatioofequitydisposalWayofequitydisposalTimeof lossofcontrolBasisfordeterminationof thetime ofloss ofcontrolDifferencebetween thedisposalpriceand theshareof netassetsof thesubsidiary attheconsolidatedlevelRatioofremainingequities at thedate ofloss ofcontrolBookvalueofremainingequities at thedate ofloss ofcontrolFairvalueofremainingequities at thedate ofloss ofcontrolEarnings orlossesfromre-measurementofremainingequities atfairvalueMethod andmainassumptionsfordeterminationof fairvalueofremainingequities at thedate ofloss ofcontrolAmount ofothercomprehensiveincometransferred toinvestmentprofitor lossinconnectionwithFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.410corresponding todisposal ofinvestmentoriginalequityinvestmentinsubsidiarySihuiShengyuanAgriculturalDevelopmentCo.,Ltd.20,300,541.5 8 100.00 %TransferFeb.13,2023Transfer ofcontrol4,954,893.96GaomiLiuhePigFarming Co.,Ltd.6,350,000.00 100.00 %TransferFeb.24,2023Transfer ofcontrol- 4,778,315.16SantaiNewHopeFarmingFinancingGuaranteeCo.,Ltd.39,345,000.0 0 100.00 %TransferMay10,2023Transfer ofcontrol2,361,062.55Other remarks:Whether there were any circumstances in which the company lost control in the current period through multi-transaction, step-by-step disposal of investment in subsidiaries□yesno2. Changes in the scope of consolidation for other reasonsRemarks on changes in the scope of consolidation caused by other reasons (for example, establishment of new subsidiaries,liquidation of subsidiaries etc.) and related information:(1) New subsidiaries established in the current periodName of subsidiary Ending net profits Current net profitsWuhan Fenglan Animal NutritionTechnology Co., Ltd.1,817,581.90 -182,418.10Qiandongnan Xinnong TechnologyCo., Ltd.621,934,339.59194,066.61Liaocheng New Hope Liuhe DownCo., Ltd.19,372,489.13 -627,510.87Heze New Hope Liuhe Down Co., -109,919.92 -109,919.92Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.411Ltd.Qingdao Xinmu ZhikangBiotechnology Co., Ltd. -89,661.64 -89,661.64(2) Subsidiaries deregistered in the current periodName of subsidiary Net assets at thederegistration dateNet profits from beginning of theperiod to the deregistration dateGaoqing Liuhe Longda Feed Co., Ltd. -3,752,422.54131,834.88Zhenjiang Hongjing AgriculturalTechnology Co., Ltd. - -Anshan Xinliu Breeding Poultry Co.,Ltd. - -Jiuquan New Hope Farming TechnologyCo., Ltd. - -Panjin New Hope Liuhe BreedingPoultry Co., Ltd. - -Xiao County Datun Breeding Co., Ltd. -3,100,799.85 -Lhasa New Hope Farming TechnologyCo., Ltd. -8,400,121.3331,466.36Wushan County New Hope SwineBreeding Technology Co., Ltd. -9,616,240.41 -2,656,240.41Hubei Xinliu Breeding Co., Ltd. -5,331,320.35 -16,461.15Guilin Gongcheng Xinyue FarmingTechnology Co., Ltd.516,822.90 -2,485,635.04Langfang Xinliu Farming TechnologyCo., Ltd. -38,838,508.27 -3,854,158.98Ruzhou New Hope Liuhe Feed Co., Ltd. -95,899.07 -95,163.123. OthersNoneIX. Equities in other entities1. Equities in subsidiaries(1) Composition of the business groupName of subsidiaryPrincipalplace ofbusinessPlace ofregistrationNature of businessShareholding ratioWay ofacquisitionDirect IndirectShandong New Hope Liuhe Group Co.,Ltd.Qingdao,ShandongQingdao,ShandongFeeds, veterinarydrugs90.74%BusinesscombinationundercommoncontrolNew Hope Liuhe Feed Co., Ltd.Qingdao,ShandongQingdao,ShandongProduction andsale of feeds24.00% 76.00%BusinesscombinationundercommoncontrolSichuan New Hope Liuhe Farming Co.,LtdChengdu,SichuanChengdu,SichuanFeed sale,investment60.14% 14.76%BusinesscombinationundercommonFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.412controlNew Hope Singapore Pte. Ltd. Singapore Singapore Trade, investment 100.00%EstablishedbyinvestmentNew Hope International Holdings (Pte.)Ltd.Singapore Singapore Trade, investment 100.00%EstablishedbyinvestmentBeijing New Hope Liuhe BiotechnologyIndustry Group Co., Ltd.Lhasa, Tibet Lhasa, TibetLivestockbreeding,investment99.00% 1.00%EstablishedbyinvestmentNew Hope Liuhu Food Holdings Co.,Ltd.Chengdu,SichuanLhasa, Tibet Investment, R&D 100.00%EstablishedbyinvestmentYangling Besun Agricultural IndustryGroup Co., Ltd.YanglingDistrict,ShaanxiYanglingDistrict,ShaanxiLivestockbreeding,slaughtering50.79% 15.48%Businesscombinationnot undercommoncontrolGuanghan Guoxiong Feed Co., Ltd.Guanghan,SichuanGuanghan,SichuanProduction andsale of feeds100.00%EstablishedbyinvestmentEmeishan New Hope Liuhe Feed Co.,Ltd.Leshan,SichuanLeshan,SichuanProduction andsale of feeds100.00%EstablishedbyinvestmentGuangyuan New Hope Liuhe FarmingTechnology Co., Ltd.Guangyuan,SichuanGuangyuan,SichuanLivestockbreeding100.00%EstablishedbyinvestmentMianyang New Hope Liuhe FarmingTechnology Co., Ltd.Mianyang,SichuanMianyang,SichuanProduction andsale of feeds100.00%EstablishedbyinvestmentChongqing Tongliang New Hope LiuheFarming Technology Co., Ltd.Tongling,ChongqingTongling,ChongqingProduction andsale of feeds100.00%EstablishedbyinvestmentWulong New Hope Liuhe Feed Co.,Ltd.Wulong,ChongqingWulong,ChongqingProduction andsale of feeds100.00%EstablishedbyinvestmentKunming New Hope AgriculturalTechnology Co., Ltd.Kunming,YunanKunming,YunanProduction andsale of feeds100.00%EstablishedbyinvestmentQujing Guoxiong Feed Co., Ltd.Qujing,YunnanQujing,YunnanProduction andsale of feeds90.00% 10.00%BusinesscombinationundercommoncontrolMangshi New Hope FarmingTechnology Co., Ltd.DehongPrefecture,YunnanDehongPrefecture,YunnanProduction andsale of feeds100.00%EstablishedbyinvestmentKunming New Hope Animal NutritiousFood Co., Ltd.Kunming,YunanKunming,YunanProduction andsale of feeds100.00%EstablishedbyinvestmentZunyi Jiahao Feed Co., Ltd.Zunyi,GuizhouZunyi,GuizhouProduction andsale of feeds100.00%BusinesscombinationundercommoncontrolZunyi New Hope Liuhe AgriculturalTechnology Co., Ltd.Zunyi,GuizhouZunyi,GuizhouProduction andsale of feeds100.00%EstablishedbyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.413investmentHainan New Hope Agriculture Co., Ltd.Haikou,HainanHaikou,HainanLivestockbreeding100.00%EstablishedbyinvestmentTaizhou New Hope Agriculture Co.,Ltd.Taizhou,JiangshuTaizhou,JiangshuProduction andsale of feeds100.00%EstablishedbyinvestmentLhasa New Hope Industrial Co., Ltd. Lhasa, Tibet Lhasa, TibetProduction andsale of feeds55.00%EstablishedbyinvestmentBeijing New Hope Farming TechnologyCo., Ltd.Beijing BeijingProduction andsale of feeds75.00% 25.00%EstablishedbyinvestmentHebei New Hope Feed Co., Ltd. Xinji, Hebei Xinji, HebeiProduction andsale of feeds100.00%EstablishedbyinvestmentBaoji New Hope Farming Co., Ltd.Baoji,ShaanxiBaoji,ShaanxiProduction andsale of feeds100.00%EstablishedbyinvestmentSanyuan New Hope Feed Co., Ltd.Xianyang,ShaanxiXianyang,ShaanxiProduction andsale of feeds100.00%EstablishedbyinvestmentWuzhou New Hope Liuhe Feed Co.,Ltd.Wuzhou,GuangxiWuzhou,GuangxiProduction andsale of feeds100.00%EstablishedbyinvestmentGuangxi New Hope Liuhe BreedingCo., Ltd.Nanning,GuangxiNanning,GuangxiLivestockbreeding100.00%EstablishedbyinvestmentYongzhou New Hope Liuhe Feed Co.,Ltd.Yongzhou,HunanYongzhou,HunanProduction andsale of feeds100.00%EstablishedbyinvestmentHuaihua New Hope Liuhe Feed Co.,Ltd.Huaihua,HunanHuaihua,HunanProduction andsale of feeds100.00%EstablishedbyinvestmentHuanggang New Hope FeedTechnology Co., Ltd.Huanggang,HubeiHuanggang,HubeiProduction andsale of feeds100.00%EstablishedbyinvestmentYingtan New Hope Feed Co., Ltd.Yingtan,JiangxiYingtan,JiangxiProduction andsale of feeds100.00%EstablishedbyinvestmentNingxia New Hope Ruminant AnimalNutritious Food Co., Ltd.Qingtongxia,NingxiaQingtongxia,NingxiaProduction andsale of feeds100.00%EstablishedbyinvestmentXiangyang New Hope Liuhe Feed Co.,Ltd.Xiangyang,HubeiXiangyang,HubeiProduction andsale of feeds100.00%EstablishedbyinvestmentGuangzhou Liuhe Feed Co., Ltd.Guangzhou,GuangdongGuangzhou,GuangdongProduction andsale of feeds61.00%EstablishedbyinvestmentSichuan Xinle Plastics Co., Ltd.Leshan,SichuanLeshan,SichuanProduction andsale of wovenbags100.00%EstablishedbyinvestmentJiangsu Tiancheng Healthcare ProductsCo., Ltd.Hai’anJiangsuHai’anJiangsuProduction andsale of additives51.00%EstablishedbyinvestmentYunnan New Hope Liuhe Breeding Co.,Ltd.Kunming,YunanKunming,YunanLivestockbreeding100.00%EstablishedbyFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.414investmentTibet Linzhi New Hope Liuhe BreedingCo., Ltd.Linzhi, Tibet Linzhi, TibetLivestockbreeding60.00%EstablishedbyinvestmentShandong Qinwang BreedingConsulting Co., Ltd.Qingdao,ShandongQingdao,ShandongConsulting,services80.00%Businesscombinationnot undercommoncontrolQingdao Feidake Food Technology Co.,Ltd.Qingdao,ShandongQingdao,ShandongInvestment 70.00%EstablishedbyinvestmentQingdao Xinhang EngineeringManagement Co., Ltd.Qingdao,ShandongQingdao,ShandongEngineeringprojectmanagement100.00%EstablishedbyinvestmentGolden Oak Investment Holdings(Tianjin) Co., Ltd.Tianjin Tianjin Trade 100.00%EstablishedbyinvestmentTianjin Dingcheng Zhizi InvestmentCo., Ltd.Tianjin Tianjin Investment 100.00%EstablishedbyinvestmentNew Hope Liuhe Investment Co., Ltd. Shanghai Lhasa, Tibet Investment 75.00%EstablishedbyinvestmentChengdu Fenglan Technology Co., Ltd.Chengdu,SichuanChengdu,SichuanProduction andsale of additives75.00%Businesscombinationnot undercommoncontrolWuhan Liuhe Food Co., Ltd.Xiaogan,HubeiXiaogan,HubeiProcessing andsale of poultry55.00%EstablishedbyinvestmentSichuan New Hope LiuheTechnological Innovation Co., Ltd.Chengdu,SichuanChengdu,SichuanTesting,consulting100.00%EstablishedbyinvestmentSichuan New Hope Animal NutritionTechnology Co., Ltd.Chengdu,SichuanChengdu,SichuanPurchase and saleof feed ingredients100.00%EstablishedbyinvestmentQingdao Xinmu Zhihe Technology Co.,Ltd.Qingdao,ShandongQingdao,ShandongManufacture andsale of machinery20.00% 80.00%EstablishedbyinvestmentXintai New Hope Feed Co., Ltd.Xintai,ShandongXintai,ShandongProduction andsale of feeds24.00% 76.00%EstablishedbyinvestmentGuangdong Jiahao AgriculturalProducts Co., Ltd.Guangzhou,GuangdongGuangzhou,GuangdongProduction andsale of feeds100.00%EstablishedbyinvestmentTianjin Yunxiang EnterpriseManagement Consulting Partnership(LP)Tianjin FreeTrade ZoneTianjin FreeTrade ZoneEnterprisemanagementconsulting19.99% 0.03%EstablishedbyinvestmentXiamen New Hope Liuhe AgriculturalSupply Chain Co., Ltd.Xiamen,FujianXiamen,FujianHandling andwarehousing80.00% 20.00%EstablishedbyinvestmentRemarks on shareholding ratio in subsidiary different from the ratio of voting power:Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.415Apart from the aforesaid subsidiaries, the company has 696 subsidiaries indirectly controlled by it, which are mainly located in 30Chinese provinces and municipalities, countries in Southeast Asian and South Africa, dealing with feed production, breeding andslaughtering, etc.Basis of control of invested entity while holding half or less of voting power and of non-control of invested entity while holdinghalf or more of voting power:Basis of control for important structured entities included in the scope of consolidation:Basis for determining whether the company is an agent or a client:Other remarks:(2) Major non-wholly owned subsidiariesUnit: yuanName of subsidiaryShareholdingratio ofminorityshareholdersCurrent profit or lossattributable to minorityshareholdersCurrent dividendsdeclared anddistributed tominorityshareholdersEnding balance ofminiority interestsNew Hope Liuhe Investment Co., Ltd.25.00% 248,298,645.375,788,948,811.31Shandong New Hope Liuhe Group Co.,Ltd.9.26% -38,723,132.1070,290,277.78983,436,365.50Remarks on shareholding ratio of minority shareholders in subsidiaries different from ratio of voting power:Other remarks:(3) Key financial information of major non-wholly owned subsidiariesUnit: yuanNameofsubsidiaryEnding balance Beginning balanceCurrent assetsNon-currentassetsTotalassetsCurrentliabilitiesNon-currentliabilitiesTotalliabilitiesCurrent assetsNon-currentassetsTotalassetsCurrentliabilitiesNon-currentliabilitiesTotalliabilitiesNewHopeLiuheInvestmentCo.,Ltd.783,90 0,073.58 22,372,019,7 14.25 23,155,919,7 87.83 124,54 2.57 0.00 124,54 2.57 392,21 9,385.34 21,664,939,8 03.44 22,057,159,1 88.78ShandongNewHopeLiuheGroupCo.,Ltd.20,497,823,6 97.43 8,000,373,71 2.81 28,498,197,4 10.24 18,153,937,9 03.41 3,549,108,69 1.13 21,703,046,5 94.54 16,823,348,3 33.13 7,942,229,07 0.21 24,765,577,4 03.34 13,825,220,8 98.06 3,931,548,53 1.01 17,756,769,4 29.07Unit: yuanName ofsubsidiaryCurrent amount Amount of the previous periodBusiness Net profits Total Cash flows Business Net profits Total Cash flowsFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.416revenue comprehensiveincomefromoperatingactivitiesrevenue comprehensiveincomefromoperatingactivitiesNew HopeLiuheInvestmentCo., Ltd.0.00 993,194,58 1.48 1,098,636,0 56.48 415,381.050.00 1,029,044,8 62.16 982,650,61 3.16 186,620.16ShandongNew HopeLiuheGroup Co.,Ltd.33,406,258,188.16 - 112,767,67 7.66 - 112,226,17 0.77 - 799,664,29 0.18 31,991,957,028.41 - 460,234,22 8.61 - 459,449,67 3.43 58,979,195.41Other remarks:Note: given the business combination under common control of Shandong New Hope Liuhe Group Co., Ltd. in the current period,the relevant statements have been restated to include the assets, liabilities, net profit and comprehensive income of the mergedcompany.2. Transactions in which the company’s share of owner’s equity in a subsidiary changes but the companystill controls the subsidiary(1) Remarks on changes in the share of owner’s equity in a subsidiaryName of subsidiaryShareholdingbefore change (%)Shareholdingafter change (%)Whether theshareholding changeresulted inloss ofcontrol ofthecompanyEquitypurchasedateDirect IndirectDirectIndirectShandong New Hope Liuhe Group Co., Ltd.78.7090.74 No Jan.2023Xuwen Xinhao Farming Co., Ltd.63.3681.68 No Feb.2023Qiandongnan Xinnong Technology Co., Ltd.100.0068.00 No Mar.2023Fenxi New Hope Liuhe Food Co., Ltd.100.00100.00 No Mar.2023Datong New Hope Liuhe Farming Co., Ltd.100.00100.00 No Apr.2023Sichuan New Hope Agricultural Development Partnership(LP) 28.9751.40 No May 2023Note: the shareholding of 100% to 100% in the above table is the transfer from a subsidiary directly orindirectly controlled by the company to another subsidiary directly or indirectly controlled by the company inwhich the company has a different equity ratio, resulting in changed capital reserve of the company due to thedifferent equity ratios of the company before and after the equity change.(2)Effect of such transaction on minority equity and owner's equity attributable to the parent companyUnit: yuanShandong NewHope LiuheGroup Co., Ltd.Xuwen XinhaoFarming Co.,Ltd.QiandongnanXinnongTechnologyCo., Ltd.Fenxi NewHope LiuheFood Co., Ltd.Datong NewHope LiuheFarming Co.,Ltd.Sichuan NewHopeAgriculturalDevelopmentPartnershipFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.417(LP)Purchasecost/disposalconsideration- 1,300,000,000.00 - 500,000,000.00 200,000,000.00 - 297,000,000.00--Cash- 1,300,000,000.00 - 500,000,000.00 200,000,000.00 - 297,000,000.00--Fair value ofnon-cash assetsTotal ofpurchasecost/disposalconsiderationMinus: share ofnet assets insubsidiarycalculated attheshareholdingacquired/disposed of735,799,414.94375,845,641.67198,097,115.87 - 267,288,281.47Difference- 564,200,585.06 - 124,154,358.331,902,884.13186,655.83 -14,009.02 - 564,288,281.47Wherein:capital reserveadjustment- 564,200,585.06 - 124,154,358.331,902,884.13 -186,655.8314,009.02 - 564,288,281.47Adjustment to surplusreserveAdjustment toundistributedprofitsOther remarks3. Equities in joint ventures or affiliates(1) Important joint ventures or affiliatesName of joint venture orassociatePrincipalplace ofbusinessPlace ofregistrationNatureofbusinessShareholding ratioAccounting treatment method forinvestments in joint ventures oraffiliatesDirectIndirectChina Minsheng Bank Beijing BeijingFinance4.18% Equity methodNew Hope Finance Co., Ltd.Chengdu,SichuanChengdu,SichuanFinance34.00% 6.00% Equity methodRemarks on shareholding ratio in joint ventures or affiliates different from voting power:NoneFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.418Basis for holding less than 20% voting power but with significant influence or holding 20% or more voting power but withoutsignificant influence:A majority-owned subsidiary New Hope Liuhe Investment Co., Ltd. holds 1,828,327,362 shares in China Minsheng Bank, or ashareholding ratio of 4.1759%, in which the director and actual controller of the company Mr. Liu Yonghao acts as a director; thecompany has the power to participate in financial and business decision making of China Minsheng Bank and this investment isaccounted for using the equity method since the company has significant influence over China Minsheng Bank.(2) Key financial information of Important affiliatesUnit: yuanEnding balance/current amount Beginning balance/amount of the previous periodChina Minsheng BankNew Hope FinanceCo., Ltd.China Minsheng BankNew Hope FinanceCo., Ltd.Current assets 732,567,000,000.005,870,712,611.841,060,816,000,000.007,068,043,485.24Non-current assets 6,887,623,000,000.007,866,226,686.676,194,857,000,000.009,465,480,312.06Total assets 7,620,190,000,000.0013,736,939,298.517,255,673,000,000.0016,533,523,797.30Current liabilities 6,323,966,000,000.0010,091,966,051.735,952,312,000,000.0013,061,388,238.45Non-current liabilities 669,533,000,000.007,023,999.38690,547,000,000.007,404,610.27Total liabilities 6,993,499,000,000.0010,098,990,051.116,642,859,000,000.0013,068,792,848.72Minority interests 108,234,000,000.00107,848,000,000.00Shareholder equityattributable to theparent company518,457,000,000.003,637,949,247.40504,966,000,000.003,516,936,558.81Share of net assetscalculated atshareholding ratio21,650,245,863.001,455,179,698.9621,086,875,194.001,406,774,623.52Adjustments--Goodwill--Profits unrealizedthrough internaltransactions--OthersBook value of equityinvestments inaffiliates22,356,991,895.981,455,179,698.9621,649,911,985.171,406,774,623.52Fair value of equityinvestments inaffiliates for whichthere are public offers6,856,227,607.506,307,609,256.10Business revenue 71,539,000,000.00281,027,275.9474,199,000,000.00279,188,968.01Net profits 23,972,000,000.00121,012,688.5524,884,000,000.0060,794,542.99Net profit fromdiscontinuedoperationsOther comprehensiveincome2,721,000,000.00 -938,000,000.0026,769.74Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.419Total comprehensiveincome26,693,000,000.00121,012,688.5523,946,000,000.0060,821,312.73Dividends receivedfrom affiliates in thisyear391,265,307.190.00389,433,782.83280,000,000.00Other remarks(3) Summary financial information of unimportant joint ventures and affiliatesUnit: yuanEnding balance/current amountBeginning balance/amount of theprevious periodJoint ventures:Total book value of investments 1,381,626,711.461,831,480,208.48Total amount of each of the followingitems calculated by shareholding ratio--Net profits -43,628,365.66 -49,892,217.37--Other comprehensive income 0.000.00--Total comprehensive income -43,628,365.66 -49,892,217.37Affiliates:Total book value of investments 1,318,625,091.861,367,934,703.94Total amount of each of the followingitems calculated by shareholding ratio--Net profits 18,734,855.5213,499,003.10--Other comprehensive income 0.000.00--Total comprehensive income 18,734,855.5213,499,003.10Other remarks(4) Remarks on significant restrictions on the ability of joint ventures or affiliates to transfer funds to thecompanyThere were no significant restrictions on the ability of joint ventures or affiliates to transfer funds to the company.(5) Excess losses incurred by joint ventures or affiliatesUnit: yuanName of joint venture orassociateAccumulation ofunrecognized prioraccumulated lossesLosses unrecognized in thisperiod (or net profits sharedin this period)Accumulated unrecognizedlosses at the end of this periodNanjing Heda Food Co., Ltd. -1,636,440.11 -1,636,440.11Taishan Jiaxin Logistics Co., Ltd. -1,480,161.42 -258,247.14 -1,738,408.56Beijing Meihao Meideling FoodCo., Ltd.-5,311,036.47 -14,962,380.04 -20,273,416.51Other remarksFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.420(6) Unrecognized commitments related to investments in joint venturesThe company had no unrecognized commitments related to investments in joint ventures.(7) Contingent liabilities related to investments in joint ventures or affiliatesThe company had no contingent liabilities related to investments in joint ventures or affiliates.X. Risks related to financial instrumentsThe main financial instruments of the company include monetary capital, accounts receivable, notes receivable, otherreceivables, other current assets, held-for-trading financial assets, accounts payable, notes payable, other payables, lease liabilities,short-term borrowings, held-for-trading financial liabilities, non-current liabilities due in 1 year, other current liabilities, long-termborrowings, long-term payables and bonds payable. Details of all financial instruments have been disclosed in related notes. Toreduce risks related to financial instruments, the company formulated corresponding risk management policies and set upcorresponding jobs or functional departments in order to ensure its risk management objectives and policies are effectively carriedout; the management manages and monitors these risk exposures to ensure the aforesaid risks are controlled within a specifiedscope.(I) Credit riskCredit risk refers to a risk that the non-performance by a party to the financial instrument of its obligations might causefinancial risks to the company. The credit risk to the company mainly originates from monetary capital and accounts receivable,etc.To reduce the credit risk, the company controls credit line, performs credit approval and executes other monitoringprocedures to ensure necessary measures are taken to recover overdue claims. In addition, the company sufficiently provides forexpected credit loss based on the collection of accounts receivable at each balance sheet date. Therefore, the company’smanagement believes the credit risk to the company has been significantly reduced.Monetary capital other than cash of the company is mainly deposited with state-owned banks or other medium and large-sized listed banks or other financial institutions with good credit standing, so the company believes there is no material credit riskto it, which is expected to cause losses to the company due to default of the counterparty.(II) Market riskThe market risk of financial instruments refers to the risk that the fair value or future cash flow of financial instruments mightfluctuate as a result of changing market prices, including the exchange rate risk, interest rate risk etc.1. Interest rate riskInterest rate risk refers to the risk that fair value of financial instruments or future cash flow might fluctuate due to changingmarket interest rates. Fixed-rate and floating-rate interest-bearing financial instruments pose fair value interest rate risk and cashflow interest rate risk to the company respectively. The company determines the ratios of fixed-rate and floating-rate instrumentsbased on market environment and maintains an appropriate portfolio of fixed-rate and floating-rate instruments through regularreview and monitoring. The company mainly faces cash flow interest rate risk resulting from floating-rate financial liabilities.(1) The floating-rate financial liabilities held by the company as of June 30 were as follows:ItemJun.20232022Effective interestrate AmountEffective interestrate AmountFinancial liabilitiesFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.421Wherein: short-term borrowings 1.25%-33.25% 17,997,266,231.042.65%-24.15% 13,359,392,691.44Long-term borrowings (includingthose due in 1 year) 2.15%-6.72% 38,951,809,640.022.17%-6.30% 38,341,849,044.99Total 56,949,075,871.0651,701,241,736.43(2) Sensitivity analysisAs of June 30,2023, with other variables held constant, a 25bp increase in interest rate will result in the company’s net profitsand owner’s equity decreased by 103,424,189.19 yuan (in 2022: decrease of 98,260,298.09 yuan)For the floating-rate non-derivative instruments held at the balance sheet date that cause the company to face cash flowinterest rate risk, the effect of net profits and ownership interest in the aforesaid sensitivity analysis is after-tax effect of theaforesaid interest rate change on interest expense or revenue estimated by year. The analysis of the previous year was based on thesame assumptions and method.2. Foreign exchange riskThe company invests and operates in several Asian, African and European countries, with revenues all denominated in localcurrencies, but the fluctuations of the exchange rates between these currencies and RMB will affect the figures of overseas revenueand profits of the company. For monetary capital, receivables and payables, long-term and short-term borrowings and otherforeign-currency assets and liabilities that are not denominated in accounting currency, if short-term imbalance occurs, thecompany will purchase and sell foreign currencies at market rates when necessary in order to ensure the net risk exposure is kept atan acceptable level.(1) The items of foreign-currency assets and liabilities of the company as of June 30 were as follows. For presentationpurpose, the total amount of risk exposure is presented in RMB converted from foreign currencies at the spot exchange rate at thebalance sheet date. The foreign currency statement translation difference is not included.ItemJun.20232022Balance in foreigncurrencyBalance in RMBconvertedBalance in foreigncurrencyBalance in RMBconvertedMonetary capitalWherein: USD 6,386,361.8446,146,573.418,575,694.7459,726,283.59SGD 614,765.973,285,432.31316,746.681,641,729.72THB 1,936,638.36393,978.021,477,597.39297,620.68IDR 1,391,017,200.00669,816.491,749,464,630.73775,082.81VND 20,618,965,200.006,259,505.46HKD 2,093,162.681,929,854.13Accounts receivableWherein: USD 1,729,116.9212,494,253.04312,365.252,175,499.02HKD 20,335,789.8718,749,191.54Other receivablesWherein: USD 35,715.87258,075.73SGD 5,365.8528,676.17HKD 124,292.25114,594.97Accounts payableWherein: USD 8,003,199.1557,829,516.424,725,545.8432,911,536.56SGD 383,569.402,049,871.59659,305.673,417,247.22VND 29,033,697,900.008,814,050.02HKD 416,202.99383,730.83Other payablesWherein: USD 41,821.73302,195.4848,533.17338,014.12SGD 995.945,322.5216,561.5885,840.33Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.422Net amount of foreign-curency items in balance sheetWherein: USD 106,173.75767,190.284,113,980.9828,652,231.93SGD 235,566.481,258,914.37 -359,120.57 -1,861,357.83THB 1,936,638.36393,978.021,477,597.39297,620.68IDR 1,391,017,200.00669,816.491,749,464,630.73775,082.81VND -8,414,732,700.00 -2,554,544.56HKD 22,137,041.8120,409,909.81(2) The analysis of RMB/foreign currency exchange rate applicable to the company is as follows:ItemAverage exchange rate in the reportingperiod Ending central parity rate2023202220232022USD 6.947550006.732700007.225800006.96460000SGD 5.195941674.882600005.344200005.18310000THB 0.202591810.192041380.203433970.20142204IDR 0.000461460.000453920.000481530.00044304VND 0.000293710.00030358HKD 0.886254170.92198000(3) Sensitivity analysisAssuming risk variables other than exchange rate remain unchanged, a 5% RMB appreciation due to changes in exchangerates of RMB and accounting currencies of overseas operating entities of the company versus USD, SGD, THB, IDR, VDN andHKD as of June 30 will result in increase (decrease) in owner’s equity and net profits as follows (with 25% income tax). Thiseffect is presented in RMB converted at the spot exchange rate at the balance sheet date:Item Ownership interest Net profitsJun.30,2023USD -28,769.64 -28,769.64SGD -47,209.29 -47,209.29THB -14,774.18 -14,774.18IDR -25,118.12 -25,118.12VND 95,795.4295,795.42HKD -765,371.62 -765,371.62Total -785,447.43 -785,447.43Dec.31,2022USD -1,074,458.70 -1,074,458.70SGD 69,800.9269,800.92THB -11,160.78 -11,160.78IDR -29,065.61 -29,065.61Total -1,044,884.17 -1,044,884.17As of June 30, assuming other variables remain unchanged, a 5% RMB depreciation due to changes in exchange rates ofRMB and accounting currencies of overseas operating entities of the company versus USD, SGD, THB, IDRVDN and HKD willresult in changes in owner’s equity and net profits in the same amount as those presented in the above table but in the oppositedirection.The aforesaid sensitivity analysis is derived from re-measurement of financial instruments held by the company and facingexchange rate risk at the balance sheet date with the changed exchange rate, assuming the exchange rate changes at the balancesheet date. The aforesaid analysis doesn’t include foreign currency statement translation difference. The analysis of the previousyear was based on the same assumptions and method.3. Liquidity riskFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.423Liquidity risk refers to the risk that a company might incur shortage of funds when performing its obligation to settle accountsby delivering cash or other financial assets. It is the policy of the company to ensure it has sufficient cash to repay the debts whendue. The liquidity risk is centrally controlled by the finance department of the company. The finance department ensures thecompany has sufficient funds to repay its debts in all reasonably predicted circumstances by monitoring the cash balance andreadily realizable valuable securities and through rolling forecast of cash flow in the next 12 months.The remaining contract terms and the earliest dates of required payment of financial liabilities of the company at the balancesheet date by the undiscounted contractual cash flows (including interest calculated at contract interest rate (or at the prevailinginterest rate on June 30 in case of floating interest rate)) are as follows:ItemUndiscounted contractual cash flows at the end of reporting period Book value onbalance sheetdateDue in 1 year oron demand 1-2 years 2-5 years Over 5 years TotalShort-termborrowings18,163,123,612.7 7 18,163,123,612.7 7 17,997,266,231.0 4Notespayable 4,532,396,707.284,532,396,707.284,532,396,707.28Accountspayable10,310,425,622.2 5 10,310,425,622.2 5 10,310,425,622.2 5Otherpayables(excluding interestpayableanddividendspayable) 4,648,287,972.394,648,287,972.394,648,287,972.39Long-termborrowings(includinglong-termborrowings due in 1year)14,259,381,482.9 1 10,126,703,122.8 2 15,870,109,263.4 9 1,713,390,798.8 9 41,969,584,668.1 1 38,951,809,640.0 2Bondspayable(includingbondspayabledue in 1year) 2,176,217,956.67608,591,399.349,461,985,343.45 - 12,246,794,699.4 6 10,367,684,524.7 1Long-termpayables(includinglong-termpayablesdue in 1year) 218,602,888.43215,737,531.58133,326,197.64 - 567,666,617.65539,364,203.32Leaseliabilities(includingleaseliabilitiesdue in 1year) 665,924,818.87676,209,434.061,449,508,952.57 4,935,314,325.9 47,726,957,531.445,010,727,309.39Total 54,974,361,061.57 11,627,241,487.8 0 26,914,929,757.1 5 6,648,705,124.8 3 100,165,237,431.35 92,357,962,210.4 0Continued tableFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.424ItemUndiscounted contractual cash flows at the beginning of period Balance sheetdateBook valueDue in 1 year oron demand 1-2 years 2-5 years Over 5 years TotalShort-termborrowings13,433,378,000.8 0 13,433,378,000.8 0 13,359,392,691.4 4Notespayable 2,732,895,395.822,732,895,395.822,732,895,395.82Accountspayable11,564,714,386.8 6 11,564,714,386.8 6 11,564,714,386.8 6Otherpayables(excludinginterestpayableanddividendspayable)4,713,876,319.054,713,876,319.054,713,876,319.05Long-termborrowings(includinglong-termborrowings due in 1year)12,125,092,930.0 6 12,707,679,253.8 0 14,353,424,233.6 4 2,439,423,248.8 9 41,625,619,666.3 9 38,341,849,044.9 9Bondspayable(includingbondspayabledue in 1year)2,226,749,855.302,288,605,897.679,941,788,994.8114,457,144,747.78 12,253,616,088.4 1Long-termpayables(includinglong-termpayablesdue in 1year)129,243,747.94107,554,393.7664,175,685.32300,973,827.02286,098,485.67Leaseliabilities(includingleaseliabilitiesdue in 1year)715,489,810.93711,582,949.801,576,014,699.755,162,063,215.938,165,150,676.415,285,779,759.53Total47,641,440,446.7 6 15,815,422,495.0 3 25,935,403,613.5 2 7,601,486,464.8 2 96,993,753,020.1 3 88,538,222,171.7 7Note: the convertible corporate bonds in the bonds payable are deemed as held to maturity without conversion into shares halfway.XI. Disclosure of fair value1. Ending fair value of assets and liabilities measured at fair valueUnit: yuanItemEnding fair valueLevel 1 fair valuemeasurementLevel 2 fairvalueLevel 3 fair valuemeasurementTotalFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.425measurementI. Continuous measurement of fair value -- -- -- --(I) Held-for-trading financial assets 77,510,307.0477,510,307.041. Financial assets at fair value throughprofit or loss77,510,307.0477,510,307.04(1) Investment in debt instruments 0.00(2) Investments in equity instruments 0.00(3) Derivative financial assets 77,510,307.0477,510,307.04(III) Investments in other equityinstruments315,248,826.38315,248,826.38Total assets continuously measured at fairvalue77,510,307.04315,248,826.38392,759,133.42(VI) Held-for-trading financial liabilities 18,749,771.3918,749,771.39Wherein: trading bonds issued 0.00Derivative financial liabilities 18,749,771.3918,749,771.39Others 0.00(VII) Financial liabilities desiganted asmeasured at fair value through profit or loss0.00Total liabilities continuously measured atfair value18,749,771.3918,749,771.39II. Non-continuous measurement of fairvalue-- -- -- --2. Basis for determination of market prices of continuous and non-continuous level 1 fair valuemeasurement itemsThe derivative financial assets in the held-for-trading financial assets are futures contracts and interest rateswaps purchased, which are recognized based on the ending quotations provided by futures trading centers andothers.3. Qualitative and quantitative information about valuation techniques and important parameters usedfor continuous and non-continuous level 3 fair value measurement itemsThe other equity instrument investments of the company involved in level 3 fair value measurement are equitiesheld by the company in unlisted companies. There were no significant changes in the operating environments,business condition and financial condition of invested entities, so the company measures at investment cost asthe reasonable estimate of fair value.XII. Related parties and related-party transactions1. The parent company of the companyName of the parentcompanyPlace ofregistrationNature ofbusinessRegistered capitalShareholding ofthe parentcompany in thecompanyRatio of voting power heldby the parent company inthe companyNew Hope Group Co., Ltd. Chengdu Management 3,200,000,000.0024.90% 24.90%Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.426South Hope Industrial Co.,Ltd.Lhasa,TibetR&D,wholesaleand retail1,034,313,725.0029.28% 29.28%Remarks on the parent company of the companyNote: the controlling shareholder of South Hope Industrial Co., Ltd., the largest shareholder of the company, is New Hope GroupCo., Ltd., the second largest shareholder of the company, so the controlling shareholder of the company is New Hope Group Co.,Ltd., while the actual controller of New Hope Group Co., Ltd. is Liu Yonghao, therefore the ultimate actual controller of thecompany is Liu Yonghao.In accordance with the covenants on maintenance of guarantee ratio and additional guarantee mechanism specified in theProspectus for the Non-public Offering of Exchangeable Corporate Bonds (Phase I) of New Hope Group Limited to ProfessionalInvestors in 2023, New Hope Group completed the guarantee and trust registration of the underlying shares at the ShenzhenBranch of China Securities Depository and Clearing Co., Ltd. on March 17 and June 8,2023, transferring 784,455,413.00 NewHope shares (17.29% of the total share capital of the company) into the “New Hope - Topsperity Securities -23 Hope E1Guarantee and Trust Property Special Account”, which is managed by the manager Topsperity Securities Co., Ltd., and theregistration period of the stock trust is the duration of the current exchangeable bonds. The registration of the guarantee and trustcauses no change to the controlling shareholder and the actual controller, so it does not constitute a tender offer.The ultimate controlling party of the company is New Hope Group Co., Ltd.Other remarks:2. Subsidiaries of the companyThe subsidiaries of the company are detailed in Note IX.1. (1) “Composition of the business group”.3. Joint ventures and affiliates of the companyThe important joint ventures and affiliates of this company are detailed in Note VII.9. “Long-term equity investments”.Other joint ventures or affiliates that incurred related-party transactions with the company in the current period or formed balancesout of previous related-party transactions with the company are detailed as follows:Name of joint venture or affiliate Relationship with the companyNew Hope Finance Co., Ltd. AffiliateQianxinan Hope Farming Co., Ltd. AffiliateHebei Kinghey Sausage Casings Co., Ltd. AffiliateShanghai Liuhe Qinqiang Food Co., Ltd. AffiliateQingdao Big Herdsman Machinery Co., Ltd. AffiliateNanjing Heda Food Co., Ltd. AffiliateShandong Hypor Liuhe Breeding Co., Ltd. AffiliateNHE (Beijing) Technology Co., Ltd. AffiliateAnhui Antai Agricultural Development Co., Ltd. AffiliateAnhui Xinhua Ducks Co., Ltd. AffiliateChengdu Tianfu Xingxinxin Farming Technology Co., Ltd. AffiliateXinzhi Huide Machinery Technology Co., Ltd. AffiliateAnhui Xinqiao Down Co., Ltd. Joint ventureYan’an Xinyongxiang Technology Co., Ltd. Joint ventureBeijing Meihao Meideling Food Co., Ltd. Joint ventureGuangdong Hope No.1 Equity Investment Partnership (LP) Joint ventureShenyang New Hope New Agricultural Industry FundPartnership (LP)Joint ventureFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.427Shandong Gongrong New Hope Equity Investment FundPartnership (LP)Joint ventureHainan Nongken New Hope Farming Technology Co., Ltd. Joint ventureZhanjiang Guangken Xinhao Farming Co., Ltd. Joint ventureOther remarksNote: the equity of Zhanjiang Guangken Xinhao Farming Co., Ltd. held by a subsidiary of the company will be transferred toexternal unit in 2023.4. Other related partiesName of other related parties Relationship between other related parties and the companyOther subsidiaries controlled by New Hope Holding GroupCo., Ltd.Companies controlled by the same actual controllerYunnan New Hope Xuelan Livestock Technology Co., Ltd.A company controlled by person acting in concert with theultimate controllerHaiyuan New Hope Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerShilin New Hope Xuelan Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerYongchang New Hope Xuelan Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerLuliang New Hope Xuelan Cow Breeding Co., Ltd.A company controlled by person acting in concert with theultimate controllerYunnan New Hope Diequan Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerWuzhong New Hope Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerJingyuan New Hope Livestock Co., Ltd.A company controlled by person acting in concert with theultimate controllerNew Hope Dairy Co., Ltd. and other majority-ownedsubsidiariesCompanies controlled by persons acting in concert with theultimate controllerNew Hope Property Service Group Co., Ltd. and its majority-owned subsidiariesCompanies controlled by the same actual controllerSichuan Xingong Shengfei Construction Engineering Co., Ltd. A company controlled by the same actual controllerBeijing Porridge Jiahe Restaurant Management Co., Ltd.A company controlled by an affiliate of the controllingshareholderSichuan New Hope Fresh Life Commercial Chain Co., Ltd. A company controlled by key managementQingdao Fresh Life Technology Service Co., Ltd. A company controlled by the same actual controllerSichuan Xinrong Nutrition Technology Co., Ltd. and itsmajority-owned subsidiariesCompanies controlled by the same actual controllerChengdu Yunlizhi Technology Co., Ltd. and its majority-owned subsidiariesCompanies controlled by the same actual controllerSichuan Chuanwazi Food Co., Ltd. A company controlled by the same actual controllerSichuan Jixian Digital Intelligence Supply Chain TechnologyCo., Ltd.A company controlled by the same actual controllerGrass Green Group Co., Ltd. and other majority-ownedsubsidiariesCompanies controlled by the same actual controllerHangzhou Xingyuan Environmental Protection Equipment Co.,Ltd.A company controlled by the same actual controllerXingyuan Environment Technology Co., Ltd. and othermajority-owned subsidiariesCompanies controlled by the same actual controllerYunnan Xinlong Mineral Feed Co., Ltd. A company controlled by the same actual controllerXinchuang Yunlian Industry Development Co., Ltd. A company controlled by the same actual controllerNew Hope Chemical Investment Co., Ltd. and its majority- Companies controlled by the same actual controllerFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.428owned subsidiariesSichuan New Hope Trade Co., Ltd. A company controlled by the same actual controllerSichuan Huaxi Guoxing Real Estate Co., Ltd. A company controlled by the same actual controllerNew Hope Cloud Selection (Chongqing) E-commerce Co., Ltd. A company controlled by key managementNew Hope Cloud Selection Chengdu Supply ChainManagement Co., Ltd. and its branch companiesA company controlled by key managementSichuan New Hope Industrial Co., Ltd. An affiliate of the actual controllerChengdu New Hope Industrial Investment Co., Ltd. A company controlled by the same actual controllerOther remarks5. Related-party transactions(1) Related-party transactions of of purchase and sale of goods and provision and receipt of servicesStatement of purchase of goods/receipt of servicesUnit: yuanRelated partyContent ofrelated-partytransactionCurrent amountTransaction limitapprovedWhetherthetransaction limitwasexceededAmount of theprevious periodHangzhou XingyuanEnvironmental ProtectionEquipment Co., Ltd.Purchase ofbreedingequipment182,368.9040,000,000.00 No 956,184.00Xinzhi Huide MechanicalTechnology Co., Ltd. andits majority-ownedsubsidiariesPurchase ofbreedingequipment49,611,375.0077,000,000.00 No 69,336,712.38Sichuan Xinrong NutritionTechnology Co., Ltd. andits majority-ownedsubsidiariesPurchase ofgoods75,487,958.37700,000,000.00 No 43,268,125.51Sichuan Chuanwazi FoodCo., Ltd.Purchase ofgoods678,182.3920,000,000.00 No 605,352.02Sichuan Jixian DigitalIntelligence Supply ChainTechnology Co., Ltd.Purchase ofgoods29,628,353.40120,000,000.00 No 17,404,643.17Grass Green Group Co.,Ltd. and other majority-owned subsidiariesPurchase ofgoods2,917,086.1910,000,000.00 No 621,925.62New Hope Dairy Co., Ltd.and its majority-ownedsubsidiariesPurchase ofgoods47,910.122,000,000.00 No 270,480.77Yunnan Xinlong MineralFeed Co., Ltd.Purchase ofgoods7,037,254.941,000,000,000.00 No 51,397,301.76Xinchuang YunlianIndustry Development Co.,Ltd.Purchase ofgoods17,217,037.31500,000,000.00 No 0.00Sichuan New Hope TradeCo., Ltd.Purchase ofgoods1,670,195,744.843,200,000,000.00 No 1,314,224,511.11Other subsidiariescontrolled by New HopePurchase ofgoods845,916.9080,000,000.00 No 3,911,526.93Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.429Holding Group Co., Ltd.Qingdao Fresh LifeTechnology Service Co.,Ltd.Cold chaintransportservices8,408,930.1620,000,000.00 No 59,060,927.88Chengdu YunlizhiTechnology Co., Ltd. andits majority-ownedsubsidiariesCold chaintransportservices233,357,387.39500,000,000.00 No 90,140,404.60Grass Green Group Co.,Ltd. and other majority-owned subsidiariesCold chaintransportservices6,115,135.3550,000,000.00 No 8,343,312.92Xingyuan EnvironmentTechnology Co., Ltd. andother majority-ownedsubsidiariesEngineeringconstructionservices27,034,178.20144,000,000.00 No 31,565,084.63Sichuan Xingong ShengfeiConstruction EngineeringCo., Ltd.Engineeringconstructionservices2,750,193.47100,000,000.00 No 48,058,592.05New Hope PropertyService Group Co., Ltd.and its majority-ownedsubsidiariesPropertymanagementand cateringservices1,670,190.7810,000,000.00 No 2,807,493.74Qingdao Big HerdsmanMachinery Co., Ltd. and itsmajority-ownedsubsidiariesPurchase ofgoods10,180,754.4426,389,851.25Shanghai Liuhe QinqiangFood Co., Ltd.Purchase ofgoods163,517.44135,186.12Shandong Hypor LiuheBreeding Co., Ltd.Purchase ofgoods0.002,817,219.00Sichuan New Hope FreshLife Commercial ChainCo., Ltd.Purchase ofgoods0.002,000.00Beijing Meihao MeidelingFood Co., Ltd.Purchase ofgoods799,531.084,247,101.28Yan’an XinyongxiangTechnology Co., Ltd.Purchase ofgoods10,489,840.059,760,652.68Beijing Porridge JiaheRestaurant ManagementCo., Ltd.Purchase ofgoods3,667,393.19855,793.96Anhui Xinqiao Down Co.,Ltd.Purchase ofgoods0.001,080,942.32Sichuan New HopeIndustrial Co., Ltd.Purchase ofgoods401,510.000.00Chengdu TianfuXingxinxin FarmingTechnology Co., Ltd. andits majority-ownedsubsidiariesPurchase ofgoods310,419.500.00Total 2,159,198,169.416,573,000,000.001,787,261,325.70Statement of sale of goods/provision of servicesUnit: yuanRelated partyContent ofrelated-partytransactionCurrent amountAmount of theprevious periodFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.430Yunnan New Hope Xuelan Livestock Technology Co.,Ltd.Sale of goods 9,897,037.159,493,913.50Haiyuan New Hope Livestock Co., Ltd. Sale of goods 8,879,026.678,862,162.67Shilin New Hope Xuelan Livestock Co., Ltd. Sale of goods 13,289,612.3612,045,499.81Yongchang New Hope Xuelan Livestock Co., Ltd. Sale of goods 6,719,898.909,842,598.73Luliang New Hope Xuelan Cow Breeding Co., Ltd. Sale of goods 17,089,419.591,282,381.18Yunnan New Hope Diequan Livestock Co., Ltd. Sale of goods 12,346,019.812,766,502.57Wuzhong New Hope Livestock Co., Ltd. Sale of goods 9,519,129.10803,490.20Jingyuan New Hope Livestock Co., Ltd. Sale of goods 9,068,366.147,109,378.44New Hope Dairy Co., Ltd. and other majority-ownedsubsidiariesSale of goods 13,937,003.409,281,898.08Sichuan Xinrong Nutrition Technology Co., Ltd. and itsmajority-owned subsidiariesSale of goods 31,542,867.7124,436,255.13Sichuan Jixian Digital Intelligence Supply ChainTechnology Co., Ltd.Sale of goods 40,953,714.6410,459,233.36Grass Green Group Co., Ltd. and other majority-ownedsubsidiariesSale of goods 15,541,428.6918,079,969.77New Hope Chemical Investment Co., Ltd. and its majority-owned subsidiariesSale of goods 1,215,521.317,334,206.81Other subsidiaries controlled by New Hope Holding GroupCo., Ltd.Sale of goods 1,165,010.932,548,369.05Beijing Meihao Meideling Food Co., Ltd. Sale of goods 3,624,926.864,320,682.05Qianxinan Hope Farming Co., Ltd. Sale of goods 0.002,100.00Hebei Kinghey Sausage Casings Co., Ltd. Sale of goods 31,615,193.0329,764,145.01New Hope Finance Co., Ltd. Sale of goods 0.001,445.87Anhui Antai Agricultural Development Co., Ltd. Sale of goods 24,731,577.2020,854,852.46Beijing Porridge Jiahe Restaurant Management Co., Ltd. Sale of goods 19,559,623.8617,642,969.10Shanghai Liuhe Qinqiang Food Co., Ltd. Sale of goods 350,623,047.61347,944,350.05Anhui Xinqiao Down Co., Ltd. Sale of goods 7,166,330.8115,645,411.42Shandong Hypor Liuhe Breeding Co., Ltd. Sale of goods 1,698,113.21559,785.78Chengdu New Hope Industrial Investment Co., Ltd. Sale of goods 20,722.120.00Xinzhi Huide Mechanical Technology Co., Ltd. and itsmajority-owned subsidiariesSale of goods 686,092.742,230,795.82Hainan Nongken New Hope Farming Technology Co.,Ltd.Sale of goods 42,241,318.536,627,605.82Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd.and its majority-owned subsidiariesSale of goods 5,473,621.710.00New Hope Cloud Selection (Chongqing) E-commerce Co.,Ltd.Sale of goods 8,731.260.00Zhanjiang Guangken Xinhao Farming Co., Ltd. Sale of goods 90,000.000.00New Hope Cloud Selection Chengdu Supply ChainManagement Co., Ltd. and its branch companiesSale of goods 2,920.350.00Shandong Gongrong New Hope Equity Investment FundPartnership (LP)Consultingservices1,885,999.078,300,981.94Shenyang New Hope New Agricultural Industry FundPartnership (LP)Consultingservices2,676,784.645,613,853.57Total 683,269,059.40583,854,838.19Remarks on related-party transactions of purchase and sale of goods and provision and receipt of services(2) Related-party leasesThe company as lessor:Unit: yuanName of lessee Type of leased assetsRental revenue recognizedin the current periodRental revenuerecognized in the priorFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.431periodBeijing Porridge Jiahe RestaurantManagement Co., Ltd.Office building 471,512.65304,352.38Shandong Hypor Liuhe Breeding Co., Ltd. Pig farm 0.004,136,828.17Beijing Meihao Meideling Food Co., Ltd. Production plant 6,224,701.246,632,233.62Grass Green Group Co., Ltd. and itsmajority-owned subsidiariesOffice building 958,669.438,807.34Yan’an Xinyongxiang Technology Co., Ltd. Pig farm 8,667,045.548,667,045.54Xinzhi Huide Machinery Technology Co.,Ltd.Equipment 0.00557,592.24Total 16,321,928.8620,306,859.29The company as lessee:Unit: yuanNameoflessorType ofleasedassetsRental charges ofshort-term leasesand leases of low-value assets forsimplifiedprocessing (ifapplicable)Variable leasepayments notincluded in themeasurement oflease liabilities (ifapplicable)Rental paidInterest expenseson lease liabilitiesRight-of-use assetsaddedCurrentamountAmount of theprevious periodCurrentamountAmount of theprevious periodCurrentamountAmount of theprevious periodCurrentamountAmount of theprevious periodCurrentamountAmount of theprevious periodSichuanHuaxiGuoxing RealEstateCo.,Ltd.Officebuilding55,453.86 1,439,3 56.28 55,453.86 125,192.41 31,578.87 921,937.85 13,221,509.89SichuanNewHuaxiDairyCo.,Ltd.Officebuilding37,511.61 47,919.84 2,225,5 47.61Total55,453.86 1,439,3 56.28 55,453.86 162,704.02 79,498.71 921,937.85 15,447,057.50Remarks on related-party leases(3) Related-party guaranteesThe company as guarantorUnit: yuanGuaranteed partyAmountguaranteedStart date of guaranteeExpiry date ofguaranteeWhether theguaranteehas beenfulfilledSichuan New Hope Liuhe FarmingCo., Ltd282,350,000.00 Dec.31,2019 Dec.25,2026 NoSichuan New Hope Animal NutritionTechnology Co., Ltd.194,385,205.79 Apr.17,2023 Sept.15,2023 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.432Shandong New Hope Liuhe GroupCo., Ltd. Qingdao Trade Unit50,000,000.00 Jan.29,2023 Jan.27,2024 NoLiaoning Xinwang Technology Co.,Ltd.752,534,900.00 Mar.27,2020 Mar.04,2031 NoKangping Xinwang Farming Co.,Ltd.184,997,500.00 Feb.18,2021 Feb.04,2026 NoHeishan Xinliu Farming TechnologyCo., Ltd.125,000,000.00 Feb.23,2021 Feb.19,2024 NoZhangwu Xinwang Farming Co., Ltd.113,000,000.00 Jan.04,2022 Nov.25,2031 NoNanning New Hope FarmingTechnology Co., Ltd.57,863,184.20 Jul.28,2021 Jan.12,2025 NoZhanjiang Guoxiong Feed Co., Ltd.48,000,000.00 Apr.19,2022 Apr.19,2024 NoHainan Chengmai New HopeFarming Co., Ltd.80,000,000.00 Oct.30,2020 Jul.16,2024 NoNanchong New Hope Feed Co., Ltd.95,000,000.00 Mar.29,2021 Jan.03,2025 NoChongqing New Hope Feed Co., Ltd.160,000,000.00 May 31,2021 May 30,2024 NoGuangzhou Liuhe Feed Co., Ltd.97,000,000.00 Jan.06,2023 Jun.25,2024 NoYanshi Liuhe Feed Co., Ltd.28,000,000.00 Jun.24,2022 Jun.21,2024 NoNingxia New Hope RuminantAnimal Nutritious Food Co., Ltd.50,000,000.00 Jul.14,2022 Jul.12,2023 NoKunming New Hope AgriculturalTechnology Co., Ltd.40,000,000.00 Aug.15,2022 Jun.27,2024 NoJiangxi New Hope FarmingTechnology Co., Ltd.50,000,000.00 Oct.11,2022 Sept.22,2023 NoGuangdong Jiahao AgriculturalProducts Co., Ltd.30,000,000.00 Dec.23,2022 Dec.20,2023 NoQiandongnan New Hope FarmingTechnology Co., Ltd.20,000,000.00 Feb.27,2023 Mar.06,2024 NoWuwei New Hope Liuhe Feed Co.,Ltd.17,780,000.00 Jan.20,2023 May 15,2028 NoXiangyang New Hope Liuhe FeedCo., Ltd.10,000,000.00 Mar.02,2023 Mar.02,2024 NoHuanggang New Hope FeedTechnology Co., Ltd.10,000,000.00 Mar.06,2023 Mar.06,2024 NoHubei Tuanfeng New Hope FeedCo., Ltd.10,000,000.00 Mar.17,2023 Mar.17,2024 NoKunming New Hope AnimalNutritious Food Co., Ltd.10,000,000.00 Mar.10,2023 Mar.10,2024 NoTaizhou New Hope Agriculture Co.,Ltd.20,000,000.00 Mar.16,2023 Mar.11,2025 NoJiangmen Liuhe Feed Co., Ltd.184,500,000.00 Mar.26,2021 Oct.27,2025 NoQingdao Liuhe Feed Co., Ltd.10,000,000.00 Mar.31,2023 Mar.31,2024 NoYishui Liuhe Feed Co., Ltd.10,000,000.00 Apr.13,2023 Apr.13,2024 NoYuncheng Dingtai Feed Co., Ltd.10,000,000.00 Apr.12,2023 Apr.12,2024 NoWulong New Hope Liuhe Feed Co.,Ltd.50,000,000.00 Jun.27,2023 Jun.25,2024 NoAnyang Xinliu Technology Co., Ltd.160,000,000.00 Jan.20,2021 Jul.28,2027 NoBijie Xinliu Farming Co., Ltd.79,200,000.00 May 19,2020 May 18,2029 NoGansu New Hope Liuhe FarmingCo., Ltd.104,996,600.00 Jun.29,2020 Jun.20,2027 NoGuanling Xinmu Breeding Co., Ltd.108,880,000.00 Oct.29,2020 Oct.28,2030 NoGuang’an Xinhao Farming Co., Ltd.313,222,377.56 Apr.23,2021 Feb.27,2030 NoGuangyuan Xinchi Farming Co., Ltd.58,000,000.00 Mar.16,2021 Mar.15,2031 NoGuangyuan Xinhao AgriculturalDevelopment Co., Ltd.394,200,000.00 Jun.30,2020 Jun.28,2030 NoHubei Xinhao Farming Co., Ltd.548,801,829.32 May 28,2020 Sept.22,2028 NoLezhi Xinmu Farming Co., Ltd.229,500,000.00 Mar.05,2021 Feb.23,2029 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.433Liquan New Hope Liuhe FarmingCo., Ltd.114,000,000.00 Sept.29,2020 Nov.20,2026 NoLuding Xinyue Farming TechnologyCo., Ltd.37,800,000.00 Apr.02,2021 May 6,2029 NoMeishan Xinmu Farming Co., Ltd.214,500,000.00 Mar.30,2021 Mar.25,2029 NoPucheng Xinliu Technology Co., Ltd.129,193,810.49 Nov.20,2020 Nov.19,2025 NoPuyang Xinliu Farming TechnologyCo., Ltd.80,657,104.52 Jan.06,2021 Aug.06,2025 NoRuzhou Quansheng FarmingTechnology Co., Ltd.63,000,000.00 Jan.06,2021 Aug.06,2025 NoSantai New Hope FarmingTechnology Co., Ltd.181,000,000.00 Apr.01,2022 Mar.31,2025 NoShiyan Xinyue Farming TechnologyCo., Ltd.90,750,000.00 Apr.15,2021 Apr.11,2029 NoShuozhou Xinhao Farming Co., Ltd.280,000,000.00 Sept.01,2020 Mar.07,2024 NoTaiqian Xinliu Farming TechnologyCo., Ltd.160,000,000.00 Aug.27,2020 Jun.21,2027 NoWeinan Xinliu Technology Co., Ltd.443,199,772.00 Dec.24,2019 Dec.23,2031 NoWuqi Xinliu Technology Co., Ltd.80,000,000.00 Sept.15,2020 Nov.20,2027 NoXingren Xinliu Farming TechnologyCo., Ltd.94,875,000.00 Sept.30,2020 Sept.22,2028 NoYanting Xinhao Farming Co., Ltd.303,893,000.00 Sept.30,2019 Dec.3,2025 NoYangling Besun AgriculturalIndustry Group Co., Ltd.53,000,000.00 Sept.24,2019 Sept.24,2024 NoYijun Xinliu Technology Co., Ltd.141,000,000.00 Nov.15,2019 Nov.14,2031 NoYincheng Xinhao Farming Co., Ltd.345,157,894.74 Aug.18,2020 Dec.20,2030 NoHebei Kinghey Meat Industry Co.,Ltd.199,500,000.00 Jul.29,2022 Jul.28,2025 NoLiaoning Kinghey Food Co., Ltd.50,000,000.00 Apr.01,2023 Mar.27,2024 NoBeijing Kinghey Food Co., Ltd.37,127,120.67 Jun.12,2020 Jun.11,2025 NoShandong Kinghey Food Co., Ltd.176,458,074.47 Jul.13,2021 Jul.01,2028 NoYangling Besun AgriculturalIndustry Group Co., Ltd. CookedFood Center26,438,906.80 Jun.02,2022 Dec.21,2028 NoLiaocheng Xinhao Farming Co., Ltd.72,191,872.59 Dec.12,2019 Nov.24,2024 NoTangshan Xinhao Farming Co., Ltd.510,300,000.00 Apr.24,2020 Apr.27,2028 NoCao County Xinhao Farming Co.,Ltd.189,996,869.27 Apr.28,2020 Apr.19,2025 NoLaiyang Xinhao Livestock Co., Ltd.127,000,000.00 Apr.30,2020 Apr.18,2025 NoShenze New Hope Liuhe BreedingCo., Ltd.186,970,003.00 May 19,2020 May 6,2028 NoWulian Xinhao Farming Co., Ltd.49,833,333.28 Jun.24,2020 Jun.20,2025 NoHebei Xinhao Fucheng AgriculturalTechnology Co., Ltd.183,460,000.00 Jun.30,2020 Jun.30,2028 NoJuye Xinhao Farming Co., Ltd.175,000,000.00 Jul.09,2020 Jun.22,2027 NoYantai Xinhao Farming Co., Ltd.266,464,761.80 Oct.12,2020 Oct.13,2025 NoDongying Xinhao Modern FarmingCo., Ltd.336,000,000.00 Dec.1,2020 Nov.23,2025 NoDong’e New Hope Liuhe SwineBreeding Co., Ltd.112,000,000.00 May 22,2020 May 21,2025 NoJiaxiang New Hope Liuhe SwineBreeding Co., Ltd.14,000,000.00 Jun.24,2020 Jun.10,2024 NoNeiqiu Xinliu Farming TechnologyCo., Ltd.270,010,200.00 Jul.20,2020 Jul.19,2029 NoFuping Xinliu Farming TechnologyCo., Ltd.67,500,000.00 Nov.12,2020 May 20,2029 NoLaixi New Hope Liuhe Farming Co.,792,871,346.30 Apr.17,2020 Apr.09,2030 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.434Ltd.Donghai Xinhao Modern FarmingCo., Ltd.100,000,000.00 Aug.18,2020 Aug.17,2025 NoNanjing Xinmu Farming Co., Ltd.54,821,430.00 Sept.22,2020 Sept.22,2025 NoRugao Xinhao Farming Co., Ltd.50,000,000.00 Oct.15,2020 Oct.14,2023 NoShan County Xinhao Farming Co.,Ltd.92,475,000.00 Jan.08,2021 Dec.27,2025 NoXinji Xinliu Farming TechnologyCo., Ltd.220,000,000.00 Jan.08,2021 Sept.09,2027 NoPingyuan Xinliu FarmingTechnology Co., Ltd.39,299,135.16 Mar.01,2021 Dec.1,2027 NoZhenjiang New Hope Liuhe FarmingCo., Ltd.50,000,000.00 Mar.19,2021 Dec.17,2025 NoPizhou New Hope Liuhe FarmingCo., Ltd.135,000,000.00 Mar.31,2021 Mar.30,2026 NoZibo Xinhao Farming Co., Ltd.60,726,126.16 May 6,2021 Feb.23,2030 NoJulu Xinliu Farming Technology Co.,Ltd.50,650,000.00 May 19,2021 May 18,2026 NoRaoyang Xinhao Farming Co., Ltd.50,000,000.00 Apr.30,2021 Mar.30,2024 NoDacheng Xinhao Technology Co.,Ltd.59,600,000.00 Jul.23,2021 May 20,2030 NoHengshui Jizhou District XinhaoFarming Co., Ltd.110,800,000.00 Jan.20,2022 Jun.15,2029 NoGaotang County Xinhao FarmingCo., Ltd.92,347,091.19 Jul.08,2020 Jul.07,2026 NoBeijing Xinliu Farming TechnologyCo., Ltd.200,066,246.00 Jun.30,2020 Jun.24,2032 NoTianjin New Hope Liuhe FarmingTechnology Co., Ltd.107,435,483.87 Mar.10,2023 Mar.10,2032 NoSuixi Xinhao Farming Co., Ltd.30,000,000.00 Mar.29,2021 Mar.28,2026 NoWuhe New Hope Liuhe LivestockCo., Ltd.791,754,054.75 May 20,2020 Sept.23,2028 NoLaiyang Xinmu Breeding Co., Ltd.126,500,000.00 Nov.18,2020 May 19,2029 NoTianjin Xinliu Farming TechnologyCo., Ltd.258,739,088.52 Feb.05,2021 Jan.08,2030 NoChengdu Xinjin Xinhao FarmingCo., Ltd.111,257,500.00 Dec.28,2022 Dec.21,2030 NoNew Hope Liuhe (Zibo) AgriculturalTechnology Development Co., Ltd.62,060,000.00 Apr.01,2022 Feb.21,2029 NoTongcheng Xinliu FarmingTechnology Co., Ltd.261,470,647.81 Jan.27,2021 Oct.21,2027 NoXiajiang Xinliu Farming Co., Ltd.37,500,000.00 Feb.04,2021 Oct.14,2025 NoJiangxi New Hope Liuhe FarmingTechnology Co., Ltd.135,625,000.00 May 10,2021 Oct.27,2025 NoZhaoqing Xinhao Farming Co., Ltd.185,959,999.98 Feb.10,2021 Feb.09,2028 NoRuyuan Yao Autonomous CountyXinhao Farming Co., Ltd.70,000,000.00 Feb.03,2021 Oct.18,2025 NoLonghai New Hope Liuhe FarmingCo., Ltd.87,500,000.00 Dec.23,2020 Dec.21,2025 NoNanning Xinliu Farming TechnologyCo., Ltd.93,750,000.00 Apr.15,2020 Apr.13,2028 NoNanning Xinhao Farming Co., Ltd.210,000,000.00 Apr.16,2020 Apr.13,2029 NoNingming Xinhao Farming Co., Ltd.300,000,000.00 Apr.15,2020 Apr.14,2030 NoHengyang Xinhao Farming Co., Ltd.55,378,250.00 Nov.2,2020 Oct.28,2025 NoChenzhou Xinhao Farming Co., Ltd.301,875,000.00 Apr.15,2020 Apr.13,2029 NoHengnan County Muyun Eco-agriculture Co., Ltd.105,000,000.00 May 19,2020 May 18,2029 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.435Shaoyang Xinmu Farming Co., Ltd.36,740,000.00 Jul.30,2021 Apr.21,2028 NoLonghui New Hope Liuhe FarmingCo., Ltd.48,750,000.00 Nov.6,2020 Sept.27,2028 NoRui'an New Hope Liuhe FarmingCo., Ltd.49,000,000.00 Nov.13,2020 Dec.21,2025 NoZhejiang Yihai AgriculturalDevelopment Co. Ltd.116,671,250.00 Aug.04,2020 Aug.25,2028 NoNingbo New Hope Liuhe FarmingCo., Ltd.93,750,000.00 Jul.03,2020 Jul.02,2025 NoXiangshan Huatong Livestock Co.,Ltd.120,000,000.00 May 21,2021 Mar.10,2026 NoNingbo New Hope Liuhe Feed Co.,Ltd.49,500,000.00 Sept.21,2022 May 5,2032 NoLaibin Xinhao Farming Co., Ltd.232,000,000.00 Mar.05,2021 Mar.05,2026 NoHezhou Xinhao Farming Co., Ltd.262,500,000.00 Apr.15,2020 Apr.13,2030 NoGuigang Xinliu Farming TechnologyCo., Ltd.179,100,000.00 Mar.12,2021 Oct.12,2030 NoLiuzhou Xinliu Farming TechnologyCo., Ltd.76,500,000.00 Oct.27,2020 Oct.10,2028 NoHainan Lingao Xinliu Breeding Co.,Ltd.45,000,000.00 Mar.27,2020 Nov.20,2025 NoLipu Xinhao Farming TechnologyCo., Ltd.50,000,000.00 May 22,2023 May 15,2024 NoFuxin Liuhe Farming Co., Ltd.100,000,000.00 Mar.28,2023 Mar.15,2024 NoYanggu Liuhe Luxin Food Co., Ltd.50,000,000.00 Apr.25,2023 Apr.24,2024 NoLaiwu New Hope Liuhe Food Co.,Ltd.10,000,000.00 Apr.12,2023 Apr.12,2024 NoNew Hope Singapore Pte. Ltd.3,655,954,485.92 Oct.19,2020 Dec.18,2025 NoGuanghan Guoxiong Feed Co., Ltd.1,528,067.18 May 23,2023 May 22,2024 NoChongqing New Hope Feed Co., Ltd.5,866,546.14 May 23,2023 May 22,2024 NoKai County New Hope Feed Co.,Ltd.293.00 May 23,2023 May 22,2024 NoKunming New Hope AgriculturalTechnology Co., Ltd.1,721,651.60 May 23,2023 May 22,2024 NoKunming New Hope AnimalNutritious Food Co., Ltd.482,900.40 May 23,2023 May 22,2024 NoZunyi Jiahao Feed Co., Ltd.479,838.27 May 23,2023 May 22,2024 NoNew Hope Liuhe Feed Co., Ltd.Pingyuan Banch2,807.75 May 23,2023 May 22,2024 NoQingyun Liuhe Feed Co., Ltd.355,566.86 May 23,2023 May 22,2024 NoLiaocheng Liuhe Feed Co., Ltd.348,109.57 May 23,2023 May 22,2024 NoYingtan New Hope Feed Co., Ltd.26,528.91 May 23,2023 May 22,2024 NoAnyang New Hope Liuhe Feed Co.,Ltd.853,950.22 May 23,2023 May 22,2024 NoGushi Liuhe Co., Ltd.3,860.00 May 23,2023 May 22,2024 NoHenan Liuhe Feed Co., Ltd.2,294,500.69 May 23,2023 May 22,2024 NoBaoji New Hope Farming Co., Ltd.508,093.85 May 23,2023 May 22,2024 NoYanshi Liuhe Feed Co., Ltd.785,080.81 May 23,2023 May 22,2024 NoLingbao New Hope Liuhe Feed Co.,Ltd.109,586.45 May 23,2023 May 22,2024 NoXuancheng Liuhe Feed Co., Ltd.392,610.26 May 23,2023 May 22,2024 NoJinan New Hope Liuhe Feed Co.,Ltd.1,445,820.91 May 23,2023 May 22,2024 NoTangshan New Hope Liuhe Feed Co.,Ltd.18,066.24 May 23,2023 May 22,2024 NoHebei New Hope Feed Co., Ltd.346,448.24 May 23,2023 May 22,2024 NoBeijing New Hope Farming 68,474.56 May 23,2023 May 22,2024 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.436Technology Co., Ltd.Shouguang Liuhe Dingtai Feed Co.,Ltd.2,870,090.79 May 23,2023 May 22,2024 NoPingxiang New Hope Feed Co., Ltd.400,043.22 May 23,2023 May 22,2024 NoHandan Liuhe Huayu Feed Co., Ltd.548,277.29 May 23,2023 May 22,2024 NoJiangmen Liuhe Feed Co., Ltd.4,968,159.34 May 23,2023 May 22,2024 NoGuangzhou Hope Feed Co., Ltd.903,653.62 May 23,2023 May 22,2024 NoGuangzhou Liuhe Feed Co., Ltd.944,982.92 May 23,2023 May 22,2024 NoZhanjiang Guoxiong Feed Co., Ltd.1,825,940.79 May 23,2023 May 22,2024 NoWeifang Liuhe Feed Co., Ltd. LinquBranch77,485.19 May 23,2023 May 22,2024 NoYishui Liuhe Feed Co., Ltd.8,567.48 May 23,2023 May 22,2024 NoChangtu Liuhe Farming Co., Ltd.49,810.96 May 23,2023 May 22,2024 NoAnqiu Liuhe Feed Co., Ltd.1,212,000.62 May 23,2023 May 22,2024 NoShan County Liuhe Feed Co., Ltd.141,836.32 May 23,2023 May 22,2024 NoZhucheng New Hope Liuhe FeedCo., Ltd.228,207.15 May 23,2023 May 22,2024 NoZaozhuang New Hope Liuhe FeedCo., Ltd.275,475.30 May 23,2023 May 22,2024 NoTai’an Liuhe Jingwei Farming Co.,Ltd. Feed Plant226,476.01 May 23,2023 May 22,2024 NoZhanjiang Guoxiong No.1 NativePig Feed Co., Ltd.2,079,668.13 May 23,2023 May 22,2024 NoNanning New Hope FarmingTechnology Co., Ltd.3,461,327.34 May 23,2023 May 22,2024 NoShenyang New Hope FarmingTechnology Co., Ltd.477,775.65 May 23,2023 May 22,2024 NoNayong New Hope YuanshengAgriculture Co., Ltd.379.60 May 23,2023 May 22,2024 NoTangshan Muzheng Feed Co., Ltd.23,928.53 May 23,2023 May 22,2024 NoSichuan New Hope Animal NutritionTechnology Co., Ltd.65,448,268.49 May 23,2023 May 22,2024 NoHeze Xinhao Feed Co., Ltd.315,527.03 May 23,2023 May 22,2024 NoWei County New Hope Feed Co.,Ltd.42,763.92 May 23,2023 May 22,2024 NoHuizhou Liuhe Feed Co., Ltd.559,374.40 May 23,2023 May 22,2024 NoJiangmen Xinhui District LiuheBiotechnology Co., Ltd.499,449.80 May 23,2023 May 22,2024 NoHainan New Hope Liuhe SupplyChain Technology Co., Ltd.14,710,268.42 May 23,2023 May 22,2024 NoLaiyang New Hope Liuhe Feed Co.,Ltd.52,856,011.72 Feb.8,2023 Nov.23,2023 NoShouguang Liuhe Dingtai Feed Co.,Ltd.21,298,040.78 Feb.8,2023 Nov.24,2023 NoAnqiu Liuhe Feed Co., Ltd.52,924,695.24 Feb.8,2023 Nov.24,2023 NoLezhi Xinmu Farming Co., Ltd.700,937.81 Feb.8,2023 Aug.06,2023 NoTangshan Xinhao Farming Co., Ltd.1,375,626.34 Feb.09,2023 Aug.08,2023 NoZhangwu Xinwang Farming Co., Ltd.2,513,191.35 Feb.09,2023 Dec.5,2023 NoShibing County New Hope LiuheBreeding Co., Ltd.913,259.56 Feb.09,2023 Aug.08,2023 NoLaixi New Hope Liuhe Farming Co.,Ltd.4,586,445.31 Feb.20,2023 Dec.8,2023 NoHeze Xinhao Farming Co., Ltd.224,400.00 Feb.24,2023 Aug.23,2023 NoHubei Xinhao Farming Co., Ltd.1,410,599.25 Mar.03,2023 Nov.28,2023 NoTianjin Xinliu Farming TechnologyCo., Ltd.8,708,484.34 Mar.03,2023 Dec.9,2023 NoLiaoning Xinwang Technology Co.,5,245,100.33 Mar.07,2023 Nov.20,2023 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.437Ltd.Yishui New Hope Liuhe Food Co.,Ltd.20,876,464.00 Mar.07,2023 Aug.29,2023 NoWeifang Liuhe Feed Co., Ltd.175,380,891.65 Mar.07,2023 Oct.7,2023 NoChangle County Liwang BreedingCo., Ltd.20,706,479.90 Mar.07,2023 Sept.05,2023 NoAnshan Liuhe Rentai Feed Co., Ltd.818,405.10 Mar.07,2023 Sept.07,2023 NoWeifang Heshengyuan Food Co.,Ltd.9,828,683.00 Mar.07,2023 Sept.05,2023 NoChangyi Liuhe Xinrong Feed Co.,Ltd.19,114,735.36 Mar.08,2023 Dec.8,2023 NoXiangyang New Hope Liuhe FeedCo., Ltd.4,594,473.14 Mar.08,2023 Sept.08,2023 NoLijin County New Hope LiuheBreeding Co., Ltd.3,640,390.66 Mar.08,2023 Sept.11,2023 NoYuncheng Liuhe Food Co., Ltd.7,112,294.20 Mar.08,2023 Nov.3,2023 NoJingzhou New Hope Feed Co., Ltd.4,784,686.56 Mar.10,2023 Oct.27,2023 NoHuanggang New Hope FeedTechnology Co., Ltd.15,485,211.98 Mar.10,2023 Nov.7,2023 NoJing County Xinhao Farming Co.,Ltd.1,000,000.00 Mar.10,2023 Sept.09,2023 NoSichuan Xinhe Import & Export Co.,Ltd.5,762,830.91 Mar.13,2023 Dec.1,2023 NoJuye Xinhao Farming Co., Ltd.2,288,817.64 Mar.13,2023 Nov.10,2023 NoKunming New Hope AgriculturalTechnology Co., Ltd.458,700.00 Mar.15,2023 Sept.14,2023 NoZouping Liuhe Broiler Breeding Co.,Ltd.1,088,955.10 Mar.15,2023 Sept.15,2023 NoRizhao Xinhao Farming Co., Ltd.3,303,688.57 Mar.17,2023 Nov.17,2023 NoQingdao Xinhang EngineeringManagement Co., Ltd.12,423,323.85 Mar.21,2023 Dec.5,2023 NoChangning County New Hope LiuheEcological Farming Technology Co.,Ltd.443,671.00 Mar.21,2023 Sept.21,2023 NoSanyuan New Hope Feed Co., Ltd.170,000.00 Mar.27,2023 Sept.26,2023 NoTaizhou New Hope Agriculture Co.,Ltd.5,941,560.13 Mar.28,2023 Nov.16,2023 NoHengyang Xinhao Farming Co., Ltd.2,417,428.70 Mar.28,2023 Nov.22,2023 NoSheyang Liuhe Feed Co., Ltd.240,000.00 Mar.30,2023 Sept.29,2023 NoBaiyin New Hope FarmingTechnology Co., Ltd.2,380,911.22 Apr.04,2023 Sept.04,2023 NoYanting Xinhao Farming Co., Ltd.6,588,572.86 Apr.07,2023 Nov.24,2023 NoChenzhou Xinhao Farming Co., Ltd.3,169,495.43 Apr.10,2023 Nov.29,2023 NoBeijing Xinliu Farming TechnologyCo., Ltd.269,366.26 Apr.10,2023 Oct.9,2023 NoMianyang New Hope Liuhe FarmingTechnology Co., Ltd.2,305,000.00 Apr.10,2023 Oct.10,2023 NoXingren Xinliu Farming TechnologyCo., Ltd.1,758,100.00 Apr.12,2023 Oct.9,2023 NoYiyang New Hope Feed Co., Ltd.1,800,000.00 Apr.17,2023 Oct.20,2023 NoHorqin Left Wing Middle BannerXinhao Farming Co., Ltd.179,800.00 Apr.18,2023 Oct.18,2023 NoNangong Xinhao Kinghey FarmingCo., Ltd.1,792,800.00 Apr.18,2023 Oct.19,2023 NoXianyang Yongxiang AgriculturalTechnology Co., Ltd.1,212,060.07 Apr.20,2023 Oct.25,2023 NoRuyuan Yao Autonomous County 1,287,791.78 Apr.20,2023 Nov.28,2023 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.438Xinhao Farming Co., Ltd.Hanzhong New Hope Liuhe FarmingTechnology Co., Ltd.2,671,384.81 Apr.20,2023 Dec.1,2023 NoAnyang Xinliu Technology Co., Ltd.309,500.00 Apr.21,2023 Oct.20,2023 NoNanning Wuming District XinliuFarming Technology Co., Ltd.269,132.23 Apr.21,2023 Nov.29,2023 NoRugao Xinhao Farming Co., Ltd.71,596.86 Apr.21,2023 Oct.18,2023 NoChangle New Hope Liuhe FarmingCo., Ltd.775,459.23 Apr.21,2023 Oct.26,2023 NoNanning Xinhao Farming Co., Ltd.440,007.17 Apr.24,2023 Nov.16,2023 NoYangling Besun AgriculturalIndustry Group Co., Ltd.4,549,871.08 Apr.24,2023 Nov.28,2023 NoQianwei Xinhao Farming Co., Ltd.856,136.87 Apr.24,2023 Oct.24,2023 NoHubei Tuanfeng New Hope FeedCo., Ltd.1,410,580.39 Apr.26,2023 Nov.23,2023 NoZhenyuan Xinmu AgriculturalDevelopment Co., Ltd.947,763.81 Apr.26,2023 Nov.1,2023 NoJunan Liuhe Breeding Co., Ltd.657,300.00 Apr.26,2023 Nov.14,2023 NoYan’an Benyuan AgriculturalTechnology Development Co., Ltd.1,221,081.23 Apr.27,2023 Nov.18,2023 NoDacheng Xinhao Technology Co.,Ltd.1,427,777.14 Apr.27,2023 Dec.13,2023 NoBinzhou New Hope Liuhe FarmingCo., Ltd.1,129,246.03 Apr.28,2023 Nov.22,2023 NoLaibin Xinhao Farming Co., Ltd.1,603,878.80 Apr.28,2023 Nov.24,2023 NoShiyan Xinyue Farming TechnologyCo., Ltd.122,980.00 Apr.28,2023 Oct.25,2023 NoDong’e New Hope Liuhe SwineBreeding Co., Ltd.998,054.04 May 4,2023 Nov.10,2023 NoHainan Lingao Xinliu Breeding Co.,Ltd.4,985,124.90 May 5,2023 Oct.7,2023 NoJiangxi New Hope Liuhe FarmingTechnology Co., Ltd.957,336.80 May 5,2023 Oct.31,2023 NoNingming Xinhao Farming Co., Ltd.59,744.39 May 5,2023 Nov.1,2023 NoShandong Xiangsheng Livestock andPoultry Breeding Co., Ltd.9,915,964.09 May 6,2023 Dec.5,2023 NoJiaxiang New Hope Liuhe Food Co.,Ltd.13,385,451.40 May 6,2023 Nov.3,2023 NoXiajiang Xinliu Farming Co., Ltd.2,849,374.59 May 6,2023 Nov.2,2023 NoShenze New Hope Liuhe BreedingCo., Ltd.1,998,846.49 May 8,2023 Dec.4,2023 NoShan County Xinhao Farming Co.,Ltd.49,572.00 Mar.9,2023 Nov.8,2023 NoLangzhong Xinliu FarmingTechnology Co., Ltd.230,564.70 May 10,2023 Nov.5,2023 NoHebei Xinhao Fucheng AgriculturalTechnology Co., Ltd.843,118.57 May 11,2023 Nov.11,2023 NoSantai New Hope FarmingTechnology Co., Ltd.1,093,320.16 May 11,2023 Dec.11,2023 NoGuang’an Xinhao Farming Co., Ltd.1,409,837.15 May 11,2023 Nov.20,2023 NoShan County Liuhe Feed Co., Ltd.14,369,305.54 May 11,2023 Dec.8,2023 NoPingyuan Xinliu FarmingTechnology Co., Ltd.186,167.22 May 12,2023 Nov.10,2023 NoZhangjiakou Xinwang Farming Co.,Ltd.4,215,704.64 May 12,2023 Dec.5,2023 NoSuining Xinliu Farming TechnologyCo., Ltd.1,117,024.33 May 12,2023 Nov.10,2023 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.439Wuhe New Hope Liuhe LivestockCo., Ltd.927,370.29 May 15,2023 Dec.8,2023 NoKangping Xinwang Farming Co.,Ltd.587,985.47 May 16,2023 Nov.16,2023 NoGaomi Xinliu Farming TechnologyCo., Ltd.2,651,511.80 May 17,2023 Nov.16,2023 NoYichun Xinwang Farming Co., Ltd.1,411,779.85 May 17,2023 Dec.5,2023 NoCao County Xinhao Farming Co.,Ltd.2,742,649.96 May 17,2023 Nov.16,2023 NoWannian County New Hope LiuheFarming Co., Ltd.215,576.27 May 17,2023 Nov.13,2023 NoZhucheng Xinliu FarmingTechnology Co., Ltd.677,241.09 May 18,2023 Nov.28,2023 NoShaoyang Xinmu Farming Co., Ltd.1,755,968.60 Mar.14,2023 Dec.6,2023 NoLuochuan Xinliu Technology Co.,Ltd.20,000.00 May 22,2023 Nov.17,2023 NoZhaoqing Xinhao Farming Co., Ltd.916,111.02 May 22,2023 Nov.17,2023 NoChenzhou Xinyue FarmingTechnology Co., Ltd.1,130,000.00 May 23,2023 Nov.17,2023 NoXiajin Xinhao Feed Co., Ltd.1,000,000.00 May 23,2023 Nov.22,2023 NoRuzhou Quansheng FarmingTechnology Co., Ltd.4,129,445.66 May 23,2023 Dec.5,2023 NoNingbo New Hope Liuhe FarmingCo., Ltd.62,898.28 May 23,2023 Nov.17,2023 NoZihong Hengbo Feed TechnologyCo., Ltd.429,500.00 May 24,2023 Nov.30,2023 NoRaoyang Xinhao Farming Co., Ltd.515,066.60 May 24,2023 Nov.24,2023 NoXinji Xinliu Farming TechnologyCo., Ltd.693,695.80 May 25,2023 Dec.6,2023 NoYantai Xinhao Farming Co., Ltd.1,004,812.65 May 25,2023 Nov.24,2023 NoJuye Liuhe Feed Co., Ltd.6,713,794.95 May 25,2023 Nov.24,2023 NoFenxi New Hope Liuhe Food Co.,Ltd.10,871,129.42 May 25,2023 Nov.24,2023 NoFuping Xinliu Farming TechnologyCo., Ltd.146,252.91 May 25,2023 Nov.24,2023 NoTianjin New Hope Liuhe FarmingTechnology Co., Ltd.3,018,341.59 May 26,2023 Dec.8,2023 NoLaiyang Xinhao Livestock Co., Ltd.250,410.40 May 29,2023 Nov.9,2023 NoGuangxi Luocheng Xinhao FarmingCo., Ltd.238,860.97 May 30,2023 Nov.20,2023 NoDingzhou Xinhao Farming Co., Ltd.21,968.68 May 30,2023 Nov.29,2023 NoPanzhou Xinliu FarmingDevelopment Co., Ltd.610,536.52 May 31,2023 Nov.27,2023 NoManning Xinliu Farming TechnologyCo., Ltd.1,218,630.67 Jun.1,2023 Nov.28,2023 NoPizhou New Hope Liuhe FarmingCo., Ltd.689,640.00 Jun.1,2023 Dec.1,2023 NoHezhou Xinhao Farming Co., Ltd.1,376,547.90 Jun.02,2023 Nov.28,2023 NoLonghui New Hope Liuhe FarmingCo., Ltd.447,918.26 Jun.05,2023 Dec.2,2023 NoHeyang Zhenghe Modern FarmingCo., Ltd.75,139.96 Jun.06,2023 Nov.23,2023 NoPingxiang New Hope Liuhe FeedCo., Ltd.1,008,564.25 Jun.08,2023 Dec.1,2023 NoTangshan Xinhao EnvironmentalProtection Technology Co., Ltd.2,342,388.10 Jun.08,2023 Dec.8,2023 NoDezhou Xinhao Farming Co., Ltd.1,564,940.88 Jun.09,2023 Dec.8,2023 NoFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.440Guangyuan Xinhao AgriculturalDevelopment Co., Ltd.2,247,602.00 Jun.12,2023 Dec.11,2023 NoChengdu Tianfu Xingxinxin FarmingTechnology Co., Ltd.207,732,880.00 Jan.16,2023 Jan.17,2030 NoRong County Xinmu Farming Co.,Ltd.235,000,000.00 Mar.12,2020 Nov.20,2028 NoAnyue New Hope Liuhe FarmingCo., Ltd.33,171,400.00 May 19,2021 May 19,2027 NoYanyuan Xinliu Farming TechnologyCo., Ltd.190,000,000.00 Jun.15,2021 Apr.28,2031 NoTotal22,735,484,144.9 4Remarks on related-party guarantees wherein the company as the guaranteed partyNote: 1. guarantees provided among subsidiaries::Guarantor Guaranteed party AmountguaranteedStart date ofguaranteeExpiry date ofguaranteeWhether theguarantee has beenfulfilledShandong New Hope LiuheGroup Co., Ltd.Qingdao New Hope Herun Bio-technology Co., Ltd.3,738,253.79 Apr.22,2022 Apr.21,2027 NoShandong New Hope LiuheGroup Co., Ltd. Qingdao Tianrun Food Co., Ltd.73,100,000.00 Feb.28,2023 Aug.28,2024 NoTotal 76,838,253.79(4) Remuneration of key managementUnit: yuanItem Current amount Amount of the previous periodTotal compensation of key management 7,260,000.008,128,100.00(5) Related-party financial services1. NotesThe subsidiaries of the company discount notes at the finance company for purchase and sale business, as follows:Name of related party Ending balance Beginning balance Current interest expenditureNew Hope Finance Co., Ltd.4,040,915,150.443,947,464,505.3465,404,825.502. DepositsName of related party Ending balance Beginning balance Current interest revenueNew Hope Finance Co., Ltd.4,936,236,554.276,950,201,146.1839,071,235.443. LoansName of related party Ending balance Beginning balance Current interest expenditureNew Hope Finance Co., Ltd.40,700,000.0034,300,000.00820,478.876. Receivables from and payables to related parties(1) ReceivablesUnit: yuanProjectnameRelated partyEnding balance Beginning balanceBook balance Bad debt Book balance Bad debtFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.441provision provisionAccountsreceivableBeijing Porridge Jiahe RestaurantManagement Co., Ltd.4,731,340.9276,335.356,783,966.62103,225.72AccountsreceivableNanjing Heda Food Co., Ltd.25,027,303.0125,027,303.0125,027,303.0125,027,303.01AccountsreceivableShanghai Liuhe Qinqiang Food Co.,Ltd.2,860,693.6637,475.132,830,831.8337,083.91AccountsreceivableOther subsidiaries controlled by NewHope Holding Group Co., Ltd.209,820.892,748.65340,783.424,464.31AccountsreceivableNew Hope Dairy Co., Ltd. and othermajority-owned subsidiaries608,560.567,972.1575,800.88992.99AccountsreceivableSichuan Xinrong NutritionTechnology Co., Ltd. and its majority-owned subsidiaries2,060,553.6026,993.251,002,807.9213,136.79AccountsreceivableBeijing Meihao Meideling Food Co.,Ltd.7,938,771.03370,433.886,230,452.5381,618.92AccountsreceivableShenyang New Hope NewAgricultural Industry FundPartnership (LP)0.000.00733,288.099,606.07AccountsreceivableChengdu Tianfu Xingxinxin FarmingTechnology Co., Ltd. and its majority-owned subsidiaries244,084.28214,114.42215,555.082,823.76AccountsreceivableYongchang New Hope XuelanLivestock Co., Ltd.75,341.80986.980.00AccountsreceivableGuangdong Hope No.1 EquityInvestment Partnership (LP)0.000.0032,069,968.022,548,445.50AccountsreceivableGrass Green Group Co., Ltd. andother majority-owned subsidiaries2,596,524.0534,014.522,764,737.9436,218.07AccountsreceivableHainan Nongken New Hope FarmingTechnology Co., Ltd.7,774,119.10101,840.97940,580.0056,550.92AccountsreceivableXinzhi Huide Mechanical TechnologyCo., Ltd. and its majority-ownedsubsidiaries37,775,411.9811,366,540.6037,585,632.785,983,175.93AccountsreceivableAnhui Xinqiao Down Co., Ltd.0.000.001,628,204.7721,329.48AccountsreceivableNew Hope Cloud Selection(Chongqing) E-commerce Co., Ltd.252.243.304,153.9454.41AccountsreceivableAnhui Antai AgriculturalDevelopment Co., Ltd.139,032.351,821.32PrepaymentsOther subsidiaries controlled by NewHope Holding Group Co., Ltd.0.000.0018,300.000.00Prepayments New Hope Finance Co., Ltd.27,648,431.440.0031,852,278.870.00PrepaymentsQingdao Big Herdsman MachineryCo., Ltd. and its majority-ownedsubsidiaries137,220.140.00517,784.770.00PrepaymentsShanghai Liuhe Qinqiang Food Co.,Ltd.0.000.004,668.000.00Prepayments Sichuan New Hope Trade Co., Ltd.57,985,814.530.0074,902,894.180.00PrepaymentsChengdu Tianfu Xingxinxin FarmingTechnology Co., Ltd. and its majority-owned subsidiaries754.550.006,874.890.00PrepaymentsQingdao Fresh Life TechnologyService Co., Ltd.179,048.980.00138,828.590.00PrepaymentsXinzhi Huide Mechanical TechnologyCo., Ltd. and its majority-ownedsubsidiaries127,499.990.000.00Other Anhui Xinqiao Down Co., Ltd.0.000.0020,222,333.332,709,227.83Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.442receivablesOtherreceivablesNew Hope Property Service GroupCo., Ltd. and its majority-ownedsubsidiaries40,000.0040,000.0040,000.0040,000.00OtherreceivablesNew Hope Dairy Co., Ltd. and othermajority-owned subsidiaries50,000.0019,175.0050,000.0019,175.00OtherreceivablesBeijing Meihao Meideling Food Co.,Ltd.55,999,999.505,781,999.9335,000,000.004,721,500.00OtherreceivablesGuangdong Hope No.1 EquityInvestment Partnership (LP)35,300.007,659.0025,300.003,886.55OtherreceivablesZhanjiang Guangken Xinhao FarmingCo., Ltd.235,000.0090,122.50235,000.0031,701.50OtherreceivablesChengdu Tianfu Xingxinxin FarmingTechnology Co., Ltd. and its majority-owned subsidiaries120,485.006,084.52742,495,543.5337,496,024.95OtherreceivablesShenyang New Hope NewAgricultural Industry FundPartnership (LP)5,020.00253.5120.001.01OtherreceivablesGrass Green Group Co., Ltd. and itsmajority-owned subsidiaries120,000.00107,670.00120,000.0046,020.00OtherreceivablesShandong Hypor Liuhe Breeding Co.,Ltd.0.000.00170,506.008,610.55DividendsreceivableXinzhi Huide Mechanical TechnologyCo., Ltd. and its majority-ownedsubsidiaries6,000,000.000.006,000,000.000.00NotesreceivableNew Hope Chemical Investment Co.,Ltd. and its majority-ownedsubsidiaries229,824.000.00264,210.000.00NotesreceivableAnhui Antai AgriculturalDevelopment Co., Ltd.10,000,000.000.008,000,000.000.00Other non-currentassetsQingdao Big Herdsman MachineryCo., Ltd. and its majority-ownedsubsidiaries14,691,190.710.0014,378,433.710.00Other non-currentassetsHangzhou Xingyuan EnvironmentalProtection Equipment Co., Ltd.20,434,646.880.0021,648,693.950.00Other non-currentassetsXinzhi Huide Mechanical TechnologyCo., Ltd. and its majority-ownedsubsidiaries49,266,430.730.0052,535,585.680.00Other non-currentassetsXingyuan Environment TechnologyCo., Ltd. and other majority-ownedsubsidiaries22,700,299.430.0026,140,299.430.00OthercurrentassetsNew Hope Finance Co., Ltd.124,412,416.6197,327,777.780.00(2) PayablesUnit: yuanProject name Related partyEnding bookbalanceBeginning bookbalanceAccountspayableQingdao Big Herdsman Machinery Co., Ltd. and its majority-owned subsidiaries55,168,408.1954,351,632.12AccountspayableBeijing Porridge Jiahe Restaurant Management Co., Ltd.787,979.052,056,422.06Accounts Sichuan Xingong Shengfei Construction Engineering Co., Ltd.3,863.000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.443payableAccountspayableChengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and itsmajority-owned subsidiaries131,308.38132,584.36AccountspayableShandong Hypor Liuhe Breeding Co., Ltd.11,215.0013,215.00AccountspayableOther subsidiaries controlled by New Hope Holding Group Co.,Ltd.823,567.30408,499.64AccountspayableNew Hope Property Service Group Co., Ltd. and its majority-owned subsidiaries54,419.2415,000.00AccountspayableSichuan Xinrong Nutrition Technology Co., Ltd. and its majority-owned subsidiaries10,547,472.654,876,859.21AccountspayableGrass Green Group Co., Ltd. and other majority-ownedsubsidiaries6,428,848.185,524,216.75AccountspayableBeijing Meihao Meideling Food Co., Ltd.14,402.70384,319.76AccountspayableQingdao Fresh Life Technology Service Co., Ltd.1,627,820.303,662,785.12AccountspayableHangzhou Xingyuan Environmental Protection Equipment Co.,Ltd.14,957,315.8015,904,275.45AccountspayableChengdu Yunlizhi Technology Co., Ltd. and its majority-ownedsubsidiaries33,656,212.1166,370,875.25AccountspayableXinzhi Huide Mechanical Technology Co., Ltd. and its majority-owned subsidiaries56,425,144.7396,672,191.79AccountspayableXingyuan Environment Technology Co., Ltd. and other majority-owned subsidiaries135,781,067.96148,737,019.36AccountspayableYunnan Xinlong Mineral Feed Co., Ltd.487,800.00966,015.60AccountspayableNew Hope Cloud Selection (Chongqing) E-commerce Co., Ltd.400.00400.00AccountspayableNew Hope Cloud Selection Chengdu Supply Chain ManagementCo., Ltd. and its branch companies5,252.925,252.92AccountspayableSichuan New Hope Trade Co., Ltd.246,661,158.450.00AccountspayableNew Hope Dairy Co., Ltd. and its majority-owned subsidiaries 12,960.000.00ContractliabilitiesAnhui Xinqiao Down Co., Ltd.15.330.00ContractliabilitiesXinzhi Huide Mechanical Technology Co., Ltd. and its majority-owned subsidiaries16,430.550.00ContractliabilitiesHebei Kinghey Sausage Casings Co., Ltd.405,211.5598,851.77ContractliabilitiesNew Hope Finance Co., Ltd.798.74788.00ContractliabilitiesAnhui Antai Agricultural Development Co., Ltd.425.0034,000.00ContractliabilitiesAnhui Xinhua Ducks Co., Ltd.61,350.0061,350.00ContractliabilitiesYan’an Xinyongxiang Technology Co., Ltd.4,800,000.004,800,000.00ContractliabilitiesSichuan Jixian Digital Intelligence Supply Chain Technology Co.,Ltd.642.910.00ContractliabilitiesChengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and itsmajority-owned subsidiaries38,056.61105,643.73ContractliabilitiesShanghai Liuhe Qinqiang Food Co., Ltd.5,245,999.583,998,613.58ContractliabilitiesOther subsidiaries controlled by New Hope Holding Group Co.,Ltd.2,318,744.992,221,767.89Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.444ContractliabilitiesNew Hope Chemical Investment Co., Ltd. and its majority-ownedsubsidiaries525,368.50805,050.00ContractliabilitiesNew Hope Dairy Co., Ltd. and other majority-owned subsidiaries 44,944.14169,654.68ContractliabilitiesSichuan Xinrong Nutrition Technology Co., Ltd. and its majority-owned subsidiaries44,690.41103,783.98ContractliabilitiesBeijing Meihao Meideling Food Co., Ltd.16.5134,940.03ContractliabilitiesGrass Green Group Co., Ltd. and other majority-ownedsubsidiaries200,368.3281,009.75ContractliabilitiesShandong Gongrong New Hope Equity Investment FundPartnership (LP)0.001,502,309.67ContractliabilitiesNew Hope Property Service Group Co., Ltd. and its majority-owned subsidiaries52,735.8854,495.88ContractliabilitiesNew Hope Cloud Selection Chengdu Supply Chain ManagementCo., Ltd. and its branch companies166.763,466.67ContractliabilitiesNew Hope Cloud Selection (Chongqing) E-commerce Co., Ltd.12,523.0013,683.00ContractliabilitiesHainan Nongken New Hope Farming Technology Co., Ltd.0.00542,258.38ContractliabilitiesZhanjiang Guangken Xinhao Farming Co., Ltd.0.001,293,577.98Other payables NHE (Beijing) Technology Co., Ltd.609,910.31609,910.31Other payables Anhui Xinhua Ducks Co., Ltd.9,071,000.009,071,000.00Other payables Shanghai Liuhe Qinqiang Food Co., Ltd.515,000.00515,000.00Other payablesOther subsidiaries controlled by New Hope Holding Group Co.,Ltd.104,989,967.73144,382,890.54Other payablesQingdao Big Herdsman Machinery Co., Ltd. and its majority-owned subsidiaries221,653.06207,261.46Other payablesGrass Green Group Co., Ltd. and other majority-ownedsubsidiaries130,000.00330,500.00Other payables Beijing Meihao Meideling Food Co., Ltd.12,588,315.01330,730.81Other payables Yan’an Xinyongxiang Technology Co., Ltd.1,500,000.001,500,000.00Other payables Sichuan Chuanwazi Food Co., Ltd.20,000.0020,000.00Other payables Qingdao Fresh Life Technology Service Co., Ltd.11.007,339.00Other payables Sichuan Xingong Shengfei Construction Engineering Co., Ltd.5,000.005,000.00Other payablesChengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and itsmajority-owned subsidiaries200,577,016.51222,834,726.58Other payablesChengdu Yunlizhi Technology Co., Ltd. and its majority-ownedsubsidiaries4,864,114.626,623,082.54Other payablesXinzhi Huide Mechanical Technology Co., Ltd. and its majority-owned subsidiaries230,324.00224,563.00Other payables New Hope Dairy Co., Ltd. and its majority-owned subsidiaries 0.001,282,271.70Other payablesXingyuan Environment Technology Co., Ltd. and other majority-owned subsidiaries50,000.00350,000.00Other payables Shandong Hypor Liuhe Breeding Co., Ltd.3,600,000.00100,000.00Other payables Sichuan New Hope Industrial Co., Ltd.0.0012,000.00Notes payableQingdao Big Herdsman Machinery Co., Ltd. and its majority-owned subsidiaries6,498,107.5153,839,071.00Notes payableGrass Green Group Co., Ltd. and other majority-ownedsubsidiaries0.00551,740.00Notes payable Sichuan Xingong Shengfei Construction Engineering Co., Ltd.0.006,639,012.03Notes payableXinzhi Huide Mechanical Technology Co., Ltd. and its majority-owned subsidiaries13,634,327.156,644,246.70Notes payable Sichuan New Hope Trade Co., Ltd.792,263,971.14432,592,024.08Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.445XIII. Share-based payments1. Overview of share-based paymentsapplicable □not applicableUnit: yuanTotal amount of various equity instruments of the companygranted in the current period0.00Total amount of various equity instruments of the companyexercised in the current period0.00Total amount of various equity instruments of the companylapsed in the current period438,750.00Range of exercise price and remaining term of contract forstock options of the company issued and outstanding at the endof periodNoneRange of exercise prices and remaining terms of contract forother equity instruments of the company issued and outstandingat the end of periodThe number of restricted shares issued and outstanding underthe Restricted Stock and Stock Option Incentive Plan 2019 is438,800, with an exercise price of 8.16 yuan/share, and anunlocking period from the grant day, i.e. July 18,2019, to thelast trading day within 48 months thereafter;The number of restricted shares issued and outstanding underthe Restricted Stock Incentive Plan 2022 is 33,275,000, with anexercise price of 7.98 yuan/share, and an unlocking periodfrom the grant day, i.e. July 25,2022, to the last trading daywithin 12 months,24 months and 36 months thereafter; thenumber of restricted shares issued and outstanding under theEmployee Stock Ownership Plan 2022 is 40,933,250, with anexercise price of 7.98 yuan/share, and an unlocking periodfrom the date of completion of the non-transaction transfer tothe last trading day within 12 months,24 months and 36months thereafter.Other remarks(1) Decision-making procedure performed under the stock incentive plan:A. Restricted Stock and Stock Option Incentive Plan 2019On May 8,2019, the company held the 44th meeting of the 7th board of directors, and deliberated and accepted the Proposalregarding the ‘Restricted Stock and Stock Option Incentive Plan 2019 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary , theProposal regarding the ‘Assessment Management Measures of Restricted Stock and Stock Option Incentive Plan 2019 of NewHope Liuhe Co., Ltd.’ and the Proposal regarding Requesting the General Meeting to Authorize Board of Directors to HandleStock Incentive Related Matters. On June 6,2019, the company held the first extraordinary general meeting in 2019, anddeliberated and accepted the aforesaid proposals. On July 4,2019, the company held the 2nd meeting of the 8th board of directors,and deliberated and accepted the Proposal regarding Grant of Restricted Stocks and Stock Options to Incentive Beneficiaries.B. Restricted Stock Incentive Plan 2022On April 26,2022, the company held the 52nd meeting of the 8th board of directors, and deliberated and accepted the Proposalregarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary, the Proposalregarding the ‘Assessment Management Measures for the Restricted Stock Incentive Plan 2022 of New Hope Liuhe Co., Ltd.’ andthe Proposal regarding Requesting the General Meeting to Authorize Board of Directors to Handle Stock Incentive RelatedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.446Matters. On May 31,2022, the company held the annual general meeting of 2021, and deliberated and accepted the aforesaidproposals. On July 25,2022, the company held the 3rd meeting of the 9th board of directors, and deliberated and accepted theProposal on Adjusting Matters Related to the Restricted Stock Incentive Plan 2022 and the Proposal on Granting RestrictedStocks to Incentive Beneficiaries for the First TimeC. Employee Stock Ownership Plan 2022On April 26,2022, the company held the 52nd meeting of the 8th board of directors, and deliberated and accepted the Proposalregarding the ‘Employee Stock Ownership Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary , the Proposalregarding the ‘Management Measures for the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co., Ltd.’ and theProposal regarding Requesting the General Meeting to Authorize Board of Directors to Handle Matters Related to the EmployeeStock Ownership Plan 2022. On May 31,2022, the company held the annual general meeting of 2021, and deliberated andaccepted the aforesaid proposals.(2) The source of stocks under the stock incentive plan, incentive beneficiaries and the date of first grantRestricted Stock and Stock Option Incentive Plan 2019: the source of stocks for this equity incentive plan is ordinary A-sharesof the company repurchased from secondary market; the total number of incentive beneficiaries who were first granted stockincentive under this stock incentive plan was 24, including senior executives of the company and its branches and subsidiaries andother core managers/technicians that the board of directors deemed to have direct effects on the company’s business performanceand future development; the date of first grant of restricted stocks and stock options was July 18,2019.B. Restricted Stock Incentive Plan 2022: the source of stocks for this restricted stock incentive plan is ordinary RMBA-sharesof the company issued by the company to incentive beneficiaries. The number of restricted shares planned to be granted toincentive beneficiaries was 41.37 million, of which 33.275 million restricted shares were granted for the first time and 8.095million restricted shares were reserved for granting. The total number of incentive beneficiaries who were first granted stockincentive under this stock incentive plan was 199, including directors, senior executives, core technician/business personnel of thecompany (including majority-owned subsidiaries); the date of first grant under this incentive plan was July 25,2022.C. Employee Stock Ownership Plan 2022: the source of stocks for this ESOP is ordinary A-share of New Hope repurchasedthrough the company’s special account for repurchase; the total number of employees included in the ESOP at the time of itsestablishment was less than 2,326, and they are supervisors and core employees of the company (including majority-ownedsubsidiaries); on September 30,2022, the shares in the company’s special account for repurchase were non-transaction transferredto the “New Hope Liuhe Co., Ltd.- Employee Stock Ownership Plan 2022” account.(3) Stock incentives meeting conditions for exerciseRestricted Stock and Stock Option Incentive Plan 2019A. On August 6,2020, the company held the 19th meeting of the 8th board of directors and the 10th meeting of the 8th board ofsupervisors, deliberating and approving the Proposal regarding the First Exercise Period /Exercise in Lifted Period/Satisfaction ofConditions for Lifting of Sales Restrictions under the Restricted Stock and Stock Option Incentive Plan 2019, according to whichthe company granted restricted stocks to a total of 23 incentive beneficiaries eligible for lifting of sales restrictions in the firstlifted period under this incentive plan, with 877,500 restricted stocks released for sale; a total of 23 incentive beneficiaries eligiblefor exercise in the first exercise period were granted 4,095,000 exercisable stock options.B. On August 9,2021, the company held the 41st meeting of the 8th board of directors and the 21st meeting of the 8th board ofsupervisors, deliberating and approving the Proposal regarding the Second Exercise Period /Exercise in Lifted Period/Satisfactionof Conditions for Lifting of Sales Restrictions under the Restricted Stock and Stock Option Incentive Plan 2019, according towhich the company granted restricted stocks to a total of 15 incentive beneficiaries eligible for lifting of sales restrictions in theFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.447second lifted period under this incentive plan, with 438,750 shares of restricted stocks released for sale; a total of 15 incentivebeneficiaries eligible for exercise in the second exercise period were granted 2,047,500 exercisable stock options. Cancellation of part of stock options and repurchase of part of restricted stocks for cancellationA. Restricted Stock and Stock Option Incentive Plan 2019. According to the resolutions of the 19th meeting of the 8th board ofdirectors and the first extraordinary general meeting in 2020 of the company, the Proposal to Cancel Some Stock Options andRepurchase Some Restricted Stocks for Cancellation was deliberated and approved. Give that 1 incentive beneficiary’sperformance appraisal result was “subject to improvement” in the first exercise/lifted period under the company’s Restricted Stockand Stock Option Incentive Plan 2019, meeting 50% of the conditions for exercise/lifting in the period; and that 1 incentivebeneficiary’s performance appraisal result was “nonconforming”, not eligible to exercise the current stock options, which shall becanceled by the company, the restricted stocks shall not be released for sale in the current period but shall be repurchased by thecompany for cancellation. The company canceled a total of 105,000 stock options granted but not yet exercised, repurchased forcancellation 22,500 shares of restricted stocks granted but not yet released for sale, and has completed the cancellation of such partof stock options and restricted stocks as of the end of this reporting period.B. According to the resolutions of the 28th meeting of the 8th board of directors and the first extraordinary general meeting in2021 of the company, the Proposal to Cancel Some Stock Options and Repurchase Some Restricted Stocks for Cancellation wasdeliberated and approved. Given that 7 of the original incentive beneficiaries left office, the restricted stocks granted to them butnot yet released for sale may not be released for sale and shall be repurchased by the company for cancellation if the incentivebeneficiaries quited voluntarily according to related provisions of the Restricted Stock and Stock Option Incentive Plan 2019(Draft); stock options granted but not yet exercised may not be exercised but shall be canceled by the company. The companycanceled a total of 2,835,000 stock options granted but not yet exercised, repurchased for cancellation 1,215,000 shares ofrestricted stocks granted but not yet released for sale, and has completed the cancellation of such part of stock options andrestricted stocks as of the end of this reporting period.C. According to the resolutions of the 41st meeting of the 8th board of directors and the first extraordinary general meeting in2022 of the company, the Proposal to Cancel Some Stock Options and Repurchase Some Restricted Stocks for Cancellation wasdeliberated and approved. Given that 2 of the original incentive beneficiaries left office, the restricted stocks granted to them butnot yet released for sale may not be released for sale and shall be repurchased by the company for cancellation if the incentivebeneficiaries quited voluntarily according to related provisions of the Restricted Stock and Stock Option Incentive Plan 2019(Draft); stock options granted but not yet exercised may not be exercised but shall be canceled by the company; moreover,according to the Measures for the Management of Equity Incentives of Listed Companies, upon the end of each exercise period ofstock options, current stock options not exercised by incentive beneficiaries shall cease to be exercised and shall be canceled bylisted companies in a timely manner. The company canceled a total of 1,246,445 stock options granted but not yet exercised,repurchased for cancellation 168,750 shares of restricted stocks granted but not yet released for sale, and has completed thecancellation of such part of stock options and restricted stocks as of the end of this reporting period.D. At the 4th meeting of the 9th board of directors and the second extraordinary general meeting in 2022, the Proposal on Failurein Meeting the Lifting Conditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 andRepurchase and Cancellation of Restricted Stocks and Proposal on Cancellation of Stock Options under the Restricted Stock andStock Option Incentive Plan 2019 were deliberated and approved. Given that the net profit of the company in 2021 was negative,not meeting the performance assessment requirements set in the third lifting period under the Restricted Stock and Stock OptionIncentive Plan 2019, the company decided to repurchase and cancel a total of 438,750 restricted shares held by 15 incentivebeneficiaries under the Incentive Plan 2019 that have not been released for sale. In addition, given that the first grant under theRestricted Stock and Stock Option Incentive Plan 2019 has two exercise periods, and the second exercise period is from May 27,2022 to July 15,2022, the second exercise period of the 15 incentive beneficiaries involved has expired, with 0 option exercisedFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.448and 2,047,500 options not exercised. In accordance with the relevant provisions, the company decided to cancel a total of2,047,500 stock options that have not been exercised by 15 incentive beneficiaries under the Restricted Stock and Stock OptionIncentive Plan 2019 during the second exercise period. The company completed the cancellation of the above restricted stocks andstock options in February 2023.2. Share-based payments settled in equitiesapplicable □not applicableUnit: yuanDetermination of fair value of equity instruments at the grantdateThe fair value of equity instruments at the grant date wasdetermined based on Black-Scholes pricing model.Basis of determination of the number of vested equityinstrumentsEstimated based on the achievement of performance conditionsof the company and personal performance appraisal results, ofwhich the company’s performance conditions include businessrevenue and operating net profit growth indicatorsCauses of significant difference between the current estimatesand prior-period estimates——Accumulated amount of share-based payment settled in equitiesincluded in capital reserve265,039,348.21Total expenses recognized for share-based payment settled inequities in the current period130,945,221.77Other remarks3. Share-based payments settled in cash□applicablenot applicable4. Modifications to and termination of share-based paymentNoneXIV. Commitments and contingencies1. Material commitmentsMaterial commitments existing at the balance sheet date2. Contingencies(1) Material contingencies existing at the balance sheet dateThe company had no contingencies to disclose.(2) Specify any material contingencies that the company is not required to discloseThe company had no material contingencies to disclose.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.449XV. Events after the balance sheet date1. Material non-adjusting eventsThe company had no material non-adjusting events to discloseXVI. Other important matters1. Segment information(1) Basis of determination of reporting segments and their accounting policiesThe company determines operating segments based on internal organizational structure, management requirements and internalreporting policies, which refer to the components that meet all of the following conditions:1) Such components can generate revenue and incur expenses in day-to-day activities;2) The company management can evaluate the business results of such components on a regular basis to determine allocation ofresources to them and evaluate their performance;3) The financial condition, business results, cash flow and other related accounting information about such components areavailable. The company classifies its segment information by region and industry.(2) Financial information of reporting segmentsUnit: yuanItem Overseas Domestic TotalInter-segmentoffsetTotalBusiness revenue 9,495,949,647.1159,956,930,799.0369,452,880,446.1469,452,880,446.14Operating costs 8,785,247,512.3059,411,181,870.1968,196,429,382.4968,196,429,382.49Total assets 17,316,035,878.52 353,011,515,782.0 7 370,327,551,660.5 9 235,196,751,725.7 2 135,130,799,934.8 7Total liabilities 11,460,527,497.68 271,580,781,511.1 0 283,041,309,008.7 8 186,025,644,708.1 2 97,015,664,300.66(3) Specify the reason why the company has no reporting segments or cannot disclose total assets or totalliabilities of each reporting segmentNo other matters to be disclosed.(4) Other remarksSegment information determined to be reported based on industry distributionItem Business revenue Operating costs Total assets Total liabilitiesFeeds 39,151,609,640.3437,185,725,284.7038,059,734,553.3131,035,361,917.27Pig business 10,632,213,329.0511,859,740,622.89101,766,523,523.9495,156,243,982.90Poultry business 9,653,511,379.769,210,199,943.0011,647,079,878.9010,444,058,236.64Food 5,807,303,836.735,951,088,552.076,917,432,533.614,344,856,646.29Commerce andtrade 3,798,296,892.863,755,865,522.3316,191,786,131.7117,826,567,096.17Others 409,945,367.40233,809,457.50195,744,995,039.12124,234,221,129.51Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.450Total 69,452,880,446.1468,196,429,382.49370,327,551,660.59283,041,309,008.78Minus: internaloffset 235,196,751,725.72186,025,644,708.12Total after offset 69,452,880,446.1468,196,429,382.49135,130,799,934.8797,015,664,300.662. Other significant transactions and events that affect the investor decisionsThere is no other significant transactions and events that affect the investor decisions.3. Others(1) As a lesseeItem Current amountInterest expense on lease liabilities 133,845,343.23Short-term leases and low-value leases treated in a simplified manner 61,518,677.00Variable lease payments not included in measurement of lease liabilitiesRevenue acquired from subletting of right-of-use assets 7,122,182.76Total cash outflows related to lease 424,864,890.75Lease assets leased by the company include land use right, pig farms, houses and buildings, machinery and equipment andtransport equipment, etc; the lease term of land use right is generally 8 to 30 years,5 to 20 years for pig farms,5 to 30 years forhouses and buildings,5 to 7 years for machinery and equipment, and 3 to 4 years for transport equipment. Some of lease contractscontain renewal option, and the company has reasonably estimated exercise of renewal options when measuring lease liabilitiesand determining lease terms.(2) As a lessorItem Current amountIncome from lease 31,922,156.32Wherein: revenue related to variable lease payments not included in leaseproceedsThe company leased out part of the houses and buildings, factory buildings and equipment, with lease term ranging from 3years to 10 years. The company classifies such leases as operating leases, as such leases don’t substantially transfer almost all riskand reward related to asset ownership.The undiscounted lease proceeds to be received by the company after the balance sheet date are as follows:Item AmountLess than 1 year (inclusive) 54,319,936.451-2 years 38,157,619.742-3 years 34,450,822.393-4 years 14,892,931.354-5 years 12,473,925.86Over 5 years 10,752,983.69Total 165,048,219.48The company has no external lease classified as financing lease.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.451XVII. Notes to key items of financial statements of the parent company1. Accounts receivable(1) Accounts receivable disclosed by categoryUnit: yuanCategoryEnding balance Beginning balanceBook balance Bad debt provisionBookvalueBook balance Bad debt provisionBookvalueAmountProportionAmountProportionaccruedAmountProportionAmountProportionaccruedWherein:Accountsreceivable withprovision for baddebts onaportfoliobasis58,985.0 0100.00% 772.701.31% 58,212.3 0 1,229,27 3.34 100.00% 16,103.4 9 1.31% 1,213,16 9.85Wherein:Total58,985.0 0100.00% 772.701.31% 58,212.3 0 1,229,27 3.34 100.00% 16,103.4 9 1.31% 1,213,16 9.85Provision for bad debts by portfolio: domestic accounts receivable with provision for bad debts by portfolioUnit: yuanNameEnding balanceBook balance Bad debt provision Proportion accruedLow risk 58,985.00772.701.31%Total 58,985.00772.70Remarks on basis for determination of this portfolio:For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accountsreceivable and expected credit loss rate during the entire existence and calculates the expected credit loss by reference to thehistorical credit loss experience and in light of the current situation and forecast future economic situation.Accounts receivable of domestic companiesS/NRisk analysis Expected credit loss rate1 Low risk 1.31%2 Relatively lower risk 6.78%3 High risk 100.00%In case of bad debt provision for accounts receivable accrued by general model of expected credit loss, please disclose relatedinformation about bad debt provision by reference to the disclosure mode of other receivables:□applicablenot applicableDisclosure by ageUnit: yuanFull text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.452Age Ending balanceLess than 1 year (inclusive) 58,985.00Wherein: less than 6 months 58,985.00Total 58,985.00(2) Bad debt provision accrued, recovered or reversed in the current periodBad debt provision accrued in the current period:Unit: yuanCategory Beginning balanceCurrent changeEnding balanceAccruedRecovered orreversedChargedoffOthersBad debt provision for accountreceivables16,103.4915,330.79772.70Total 16,103.4915,330.79772.70Of which, significant recovered or reversed amounts of bad debt provision in this period are:(3) Top 5 accounts receivable in ending balance by debtorUnit: yuanEntity NameEnding balance of accountsreceivablePercentage in the total endingbalance of accountsreceivableEnding balance of bad debtprovisionLiao Guisheng 58,985.00100.00% 772.70Total 58,985.00100.00%2. Other receivablesUnit: yuanItem Ending balance Beginning balanceDividends receivable 427,379,820.86458,939,437.50Other receivables 79,449,317,223.8576,384,155,430.15Total 79,876,697,044.7176,843,094,867.65(1) Dividends receivable(1) Dividends receivable by categoryUnit: yuanProject (or invested entity) Ending balance Beginning balanceBeijing New Hope Liuhe BiotechnologyIndustry Group Co., Ltd.300,000,000.00300,000,000.00Yunnan New Hope Liuhe Breeding Co.,Ltd.70,996,006.9770,996,006.97Yongzhou New Hope Liuhe Feed Co.,Ltd.37,995,309.3637,995,309.36Hainan New Hope Agriculture Co., Ltd.15,206,887.3415,206,887.34Wulong New Hope Liuhe Feed Co., Ltd.2,393,442.74Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.453Zunyi Jiahao Feed Co., Ltd.788,174.45Guangyuan New Hope Liuhe FarmingTechnology Co., Ltd.0.0034,741,233.83Total 427,379,820.86458,939,437.50(2) Other receivables1) Other receivables categorized by nature of amountUnit: yuanNature of amount Ending book balance Beginning book balanceReceivables within the scope ofconsolidated statements79,379,908,737.7576,099,585,877.60Petty cash 1,525,546.861,526,336.90Margins and deposits 20,078,321.1920,776,370.65Temporary borrowings 60,048,046.92284,686,338.95Others 1,125,000.001,125,000.00Total 79,462,685,652.7276,407,699,924.102) Bad debt provision accruedUnit: yuanBad debt provisionPhase 1 Phase 2 Phase 3TotalExpected credit loss inthe coming 12 monthsExpected credit lossover the entire duration(no credit impairment)Expected credit lossover the entire duration(with creditimpairment)Balance as of Jan.1,2023 19,144,154.884,400,339.0723,544,493.95Balance as of Jan.1,2022in the current period--transferred to phase 3 -857,924.46857,924.46Current reversal 10,176,065.0810,176,065.08Balance as of Jun.30,2023 8,110,165.345,258,263.5313,368,428.87Changes in book balance with respect to which current changes in the loss provision are significant□applicablenot applicableDisclosure by ageUnit: yuanAge Ending balanceLess than 1 year (inclusive) 79,414,852,321.711-2 years 40,152,952.792-3 years 2,422,114.69Over 3 years 5,258,263.533-4 years 1,085,161.524-5 years 1,161,097.98Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.454Over 5 years 3,012,004.03Total 79,462,685,652.723) Bad debt provision accrued, recovered or reversed in the current periodBad debt provision accrued in the current period:Unit: yuanCategory Beginning balanceCurrent changeEnding balanceAccruedRecovered orreversedChargedoffOthersBad debt provision for otherreceivables23,544,493.9510,176,065.0813,368,428.87Total 23,544,493.9510,176,065.0813,368,428.87Balance of the company’s bad debt provision for other receivables was 23,544,493.95 yuan at the end of the previous year;bad debt provision reversed in the current period was 10,176,065.08 yuan.4) Top 5 other receivables in ending balance by debtorUnit: yuanEntity NameNature ofamountEnding balance AgePercentage in the totalending balance ofother receivablesEndingbalance ofbad debtprovisionBeijing New Hope LiuheBiotechnology Industry Group Co.,Ltd.Internal currentaccounts10,811,880,642.06Less than 1year13.61%Golden Oak Investment Holdings(Tianjin) Co., Ltd.Internal currentaccounts6,426,319,509.00Less than 1year8.09%Tongliao Xinhao Farming Co., Ltd.Internal currentaccounts2,157,794,411.00Less than 1year2.72%Yangling Besun AgriculturalIndustry Group Co., Ltd.Internal currentaccounts1,800,000,000.00Less than 1year2.27%New Hope Liuhe Feed Co., Ltd.Internal currentaccounts1,421,038,718.74Less than 1year1.79%Total 22,617,033,280.8028.48%3. Long-term equity investmentsUnit: yuanItemEnding balance Beginning balanceBook balanceImpairmentprovisionBook value Book balanceImpairmentprovisionBook valueInvestment insubsidiaries16,883,967,754.4516,883,967,754.4515,459,890,278.3415,459,890,278.34Investments inaffiliates andjoint ventures1,649,486,598.361,649,486,598.361,612,600,023.691,612,600,023.69Total 18,533,454,352.8118,533,454,352.8117,072,490,302.0317,072,490,302.03Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.455(1) Investment in subsidiariesUnit: yuanInvestedentityBeginningbalance(book value)Current increase or decreaseEndingbalance(book value)Endingbalance ofimpairmentprovisionAdditionalinvestmentReducedinvestmentImpairmentprovisionaccruedOthersHainan NewHopeAgricultureCo., Ltd.10,784,799.1 8 10,784,799.1 8MianyangNew HopeLiuheFarmingTechnologyCo., Ltd.20,000,000.0 0 20,000,000.0 0GuanghanGuoxiongFeed Co.,Ltd.12,247,149.1 4 12,247,149.1 4KunmingNew HopeAgriculturalTechnologyCo., Ltd.9,966,510.039,966,510.03Zunyi JiahaoFeed Co.,Ltd.6,995,416.816,995,416.81QujingGuoxiongFeed Co.,Ltd.3,943,229.083,943,229.08Beijing NewHopeFarmingTechnologyCo., Ltd.7,500,000.007,500,000.00Hebei NewHope FeedCo., Ltd.20,000,000.0 0 20,000,000.0 0Taizhou NewHopeAgricultureCo., Ltd.10,312,595.8 3 10,312,595.8 3Lhasa NewHopeIndustrialCo., Ltd.22,000,000.0 0 22,000,000.0 0MangshiNew HopeFarmingTechnologyCo., Ltd.10,000,000.0 0 10,000,000.0 0KunmingNew Hope20,172,466.6 7 20,172,466.6 7Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.456AnimalNutritiousFood Co.,Ltd.EmeishanNew HopeLiuhe FeedCo., Ltd.10,000,000.0 0 10,000,000.0 0Wulong NewHope LiuheFeed Co.,Ltd.10,000,000.0 0 10,000,000.0 0Baoji NewHopeFarming Co.,Ltd.20,150,908.3 3 20,150,908.3 3SanyuanNew HopeFeed Co.,Ltd.20,000,000.0 0 20,000,000.0 0WuzhouNew HopeLiuhe FeedCo., Ltd.10,000,000.0 0 10,000,000.0 0GuangxiNew HopeLiuheBreedingCo., Ltd.10,000,000.0 0 10,000,000.0 0YongzhouNew HopeLiuhe FeedCo., Ltd.15,000,000.0 0 15,000,000.0 0HuanggangNew HopeFeedTechnologyCo., Ltd.20,000,000.0 0 20,000,000.0 0HuaihuaNew HopeLiuhe FeedCo., Ltd.20,000,000.0 0 20,000,000.0 0Yingtan NewHope FeedCo., Ltd.20,000,000.0 0 20,000,000.0 0Ningxia NewHopeRuminantAnimalNutritiousFood Co.,Ltd.20,150,908.3 3 20,150,908.3 3XiangyangNew HopeLiuhe FeedCo., Ltd.20,000,000.0 0 20,000,000.0 0Zunyi New 10,000,000.010,000,000.0Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.457Hope LiuheAgriculturalTechnologyCo., Ltd.00GuangzhouLiuhe FeedCo., Ltd.48,972,466.6 7 48,972,466.6 7SichuanXinlePlastics Co.,Ltd.4,023,039.624,023,039.62JiangsuTianchengHealthcareProducts Co.,Ltd.40,800,000.0 0 40,800,000.0 0New HopeLiuheInvestmentCo., Ltd.503,191,958.85 503,191,958.85Sichuan NewHope LiuheTechnological InnovationCo., Ltd.18,495,841.6 7 18,495,841.6 7New HopeLiuhu FoodHoldingsCo., Ltd.100,000,000.00 100,000,000.00Yunnan NewHope LiuheBreedingCo., Ltd.2,431,166.672,431,166.67Tibet LinzhiNew HopeLiuheBreedingCo., Ltd.12,081,000.0 0 12,081,000.0 0Santai NewHopeFarmingFinancingGuaranteeCo., Ltd.30,000,000.0 0 30,000,000.0 0 0.00ChengduFenglanTechnologyCo., Ltd.50,713,650.0 0 50,713,650.0 0GuangyuanNew HopeLiuheFarmingTechnologyCo., Ltd.3,000,000.003,000,000.00TianjinDingchengZhizi100,000,000.00 100,000,000.00Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.458InvestmentCo., Ltd.Golden OakInvestmentHoldings(Tianjin) Co.,Ltd.300,000,000.00 300,000,000.00YanglingBesunAgriculturalIndustryGroup Co.,Ltd.1,736,359,48 5.75 1,736,359,48 5.75ChongqingTongliangNew HopeLiuheFarmingTechnologyCo., Ltd.3,000,000.003,000,000.00QingdaoXinhangEngineeringManagementCo., Ltd.50,000,000.0 0 50,000,000.0 0QingdaoFeidake FoodTechnologyCo., Ltd.2,100,000.002,100,000.00Beijing NewHope LiuheBiotechnology IndustryGroup Co.,Ltd.502,678,173.17 502,678,173.17New HopeSingaporePte. Ltd.1,049,702,60 2.80 1,049,702,60 2.80New HopeInternationalHoldings(Pte.) Ltd.94,167,694.5 0 94,167,694.5 0Sichuan NewHope LiuheFarming Co.,Ltd3,252,335,89 4.98 3,252,335,89 4.98ShandongNew HopeLiuhe GroupCo., Ltd.5,973,827,05 4.90 1,300,000,00 0.00 7,273,827,05 4.90New HopeLiuhe FeedCo., Ltd.481,111,323.70 481,111,323.70Xintai NewHope FeedCo., Ltd.4,800,000.004,800,000.00Sichuan New 566,578,358.566,578,358.Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.459Hope AnimalNutritionTechnologyCo., Ltd.3333QingdaoXinmu ZhiheTechnologyCo., Ltd.11,200,000.0 0 11,200,000.0 0GuangdongJiahaoAgriculturalProducts Co.,Ltd.50,603,633.3 3 50,603,633.3 3TianjinYunxiangEnterpriseManagementConsultingPartnership(LP)75,250,000.0 0 75,250,000.0 0Xiamen NewHope LiuheAgriculturalSupply ChainCo., Ltd.100,000,000.00 100,000,000.00Others33,242,950.0 0 54,077,476.1 1 87,320,426.1 1Total15,459,890,2 78.34 1,454,077,47 6.11 30,000,000.0 0 16,883,967,7 54.45(2) Investments in affiliates and joint venturesUnit: yuanInvested entityBeginningbalance(bookvalue)Current increase or decreaseEndingbalance(bookvalue)EndingbalanceofimpairmentprovisionAdditionalinvestmentReducedinvestmentProfitor lossoninvestmentrecognizedusingtheequitymethodAdjustmentforothercomprehensiveincomeOtherequitychangesCashdividends orprofitsdeclared fordistributionImpairmentprovisionaccruedOthersI. Joint venturesBeijingMeihaoMeidelingFoodCo.,Ltd.II. AffiliatesNew 1,195,741,144,1,236,9Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.460HopeFinanceCo.,Ltd.58,429.99 314.1102,744.10ChengduTianfuXingxinxinFarmingTechnologyCo.,Ltd.416,841,593.70 - 4,257,7 39.44 412,583,854.26Subtotal1,612,6 00,023.69 36,886,574.67 1,649,4 86,598.36Total1,612,6 00,023.69 36,886,574.67 1,649,4 86,598.36(3) Other remarksNote: as the net assets of Beijing Meihao Meideling Food Co., Ltd. were negative, the company wrote the investment costdown to 0 using the equity method.4. Business revenue and operating costsUnit: yuanItemCurrent amount Amount of the previous periodRevenue Cost Revenue CostMain business 336,765,390.08334,692,681.57368,336,925.09352,875,726.01Other businesses 995,871.7714,412,549.84Total 337,761,261.85334,692,681.57382,749,474.93352,875,726.01Revenue related information: information related to performance obligations: noneInformation related to transaction prices allocated to remaining performance obligations:The amount of revenue corresponding to performance obligations already contracted but not yet performed or completed at the endof this reporting period is 21,225,041.95 yuan, of which 21,225,041.95 yuan is expected to be recognized in 2023, yuan isexpected to be recognized in , and yuan is expected to be recognized in .5. Investment incomeUnit: yuanItem Current amount Amount of the previous periodIncome on long-term equity investments accountedfor under the cost method120,751,457.95518,373,420.79Income on long-term equity investments accountedfor under the equity method36,886,574.675,185,004.86Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.461Investment income from disposal of long-termequity investments9,435,000.00Investment income from disposal of other equityinstruments6,784,000.00Total 173,857,032.62523,558,425.65XVIII. Additional information1. Detailed statement of current non-recurring profits and lossesapplicable □not applicableUnit: yuanItem Amount RemarksProfit or loss from disposal of non-current assets (including the charged-off portion ofthe accrued provision for asset impairment)-149,861,921.05Government subsidies included in current profit or loss (excluding government subsidieswhich are closely related to the business operations of the company and consistentlygranted according to certain standard quota or ration in compliance with nationalpolicies)132,933,084.35Profit or loss from change in fair value of trading financial assets and trading financialliabilities held, and investment income from disposal of held-for-trading financial assets,held-for-trading financial liabilities and available-for-sale financial assets, except foreffective hedging transactions related to normal business operations of the company-10,251,616.44Reversal of impairment provision for receivables subject to separate impairment test 17,488,973.85Other profit or loss items that conform to the definition of non-recurring profit or loss -11,413,392.26Minus: effect of income tax 7,982,936.28Effect of minority interest -38,342,396.65Total 9,254,588.82 --Details of other profit or loss items that conform to the definition of non-recurring profit or loss:□applicablenot applicableThe company has no other profit or loss items that conform to the definition of non-recurring profit or loss.Description of non-recurring profit or loss items enumerated in the Explanatory Announcement No.1 on Information Disclosurefor Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit or loss items□applicablenot applicable2. Return on equity and earnings per shareProfits during the reporting periodWeightedaverageROEEarnings per shareBasic earnings per share(yuan/share)Diluted earnings per share(yuan/share)Net profits attributable to ordinary shareholders of thecompany-11.56% -0.67 -0.67Net profits attributable to ordinary shareholders of thecompany net of non-recurring profit or loss-11.60% -0.67 -0.67Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.4623. Accounting data difference under domestic and foreign accounting standards(1) Difference in net profits and net assets in financial reports disclosed under both internationalaccounting standards and Chinese accounting standards□applicablenot applicable(2) Difference in net profits and net assets in financial reports disclosed under both overseas accountingstandards and Chinese accounting standards□applicablenot applicable(3) Remarks on the reasons for accounting data difference under domestic and overseas accountingstandards, and where difference adjustments have been made to the data audited by an overseas auditagency, specify the name of such overseas agencyNew Hope Liuhe Co., Ltd.Legal Representative: Liu ChangAugust 31,2023 Section 1 Important Note, Table of Contents and De Section 2 Company Profile and Key Financial Indica I. Company Information II. Contact persons and contact details III. Other details 1. Contact information of the company 2. Information disclosure and filing place 3. Other relevant information IV. Key accounting data and financial indicators V. Differences in accounting data under domestic a 1. Differences between the net profit and net asse 2. Difference in net profits and net assets in fin VI. Items and amounts of non-recurring profit or l Section 3 Management Discussion and Analysis III. Analysis of Main Businesses IV. Analysis of non-core business V. Analysis of assets and liabilities 1. Significant changes in asset composition 2. Major overseas assets 3. Assets and liabilities measured at fair value 4. Restrictions on asset rights as of the end of t VI. Analysis of investments 1. General condition 2. Significant equity investments acquired during 3. Ongoing significant non-equity investments duri 4. Investments in financial assets (1) Investments in securities (2) Investments in derivatives 1) Derivatives investments for hedging purposes du 2) Derivatives investments for speculative purpose 5. Use of raised funds (1) Overall use of raised funds (2) Projects to which raised funds are committed (3) Items of change in raised funds VII. Sale of major assets and equities 1. Sale of major assets 2. Sale of major equities VIII. Analysis of major majority-owned and minorit IX. Structured entities controlled by the company X. Risks faced by the company and countermeasures Section 4 Corporate Governance I. Details of annual general meeting of shareholde 1. General meetings of shareholders during this re 2. Extraordinary general meetings of shareholders II. Changes in directors, supervisors, and senior III. Profit distribution and conversion of capital IV. Implementation of equity incentive plans, empl 1. Equity incentives 2. Implementation of employee stock ownership plan 3. Other employee incentive measures Section 5 Environmental and Social Responsibilitie I. Major environmental issues II. Social responsibilities Section 6 Important Matters 1. Commitments fulfilled within the reporting peri II. Occupation of non-operating funds of the liste III. Illegal external guarantees IV. Appointment and dismissal of accounting firm V. Remarks of the board of directors and board of VI. Remarks of the board of directors on details r VII. Bankruptcy reorganization related matters VIII. Litigations IX. Penalties and rectifications X. Status of integrity of the company and its cont XI. Significant related-party transactions 1. Related-party transactions related to daily ope 2. Related-party transactions arising from acquisi 3. Related-party transactions arising from joint e 4. Dealings of financial claims and debts with rel 5. Dealings with finance companies affiliated with 6. Dealings between finance companies controlled b 7. Other significant related-party transactions XII. Significant contracts and their performance 1. Trusteeship, contracting and leasing matters (1) Trusteeship (2) Contracting (3) Leasing 2. Significant guarantees 3. Entrusted wealth management 4. Other significant contracts XIII: Remarks on other significant matters XIV. Significant matters of the company’s subsidia Section 7 Changes in Shares and Information about I. Changes in shares 1. Changes in shares 2. Changes in restricted shares II. Issuance and listing of securities III. Number of shareholders of the company and the IV. Changes in shareholdings of directors, supervi V. Changes of controlling shareholder or actual co Section 8 Details Related to Preferred Shares Section 9 Details Related to Bonds I. Enterprise bonds II. Corporate bonds III. Debt financing instruments of non-financial e 1. Basic information about debt financing instrume 2. Trigger and enforcement of issuer or investor o 3. Adjustment to credit rating results during the 4. Performance and changes of guarantee, debt repa IV. Convertible corporate bonds 1. Previous adjustment and correction of share con 2. Accumulated conversion into shares 3. Details of top 10 convertible bond holders 4. List of top 10 convertible bond holders of Hope 5. Significant changes in profitability, asset con 6. Liabilities of the company at the end of the re V. Losses within the scope of consolidated stateme VI. Key accounting data and financial indicators o Section 10 Financial Report I. Auditor’s Report II. Financial statements 1. Consolidated balance sheet 2. Balance sheet of the parent company 3. Consolidated income statement 4. Income statement of the parent company 5. Consolidated cash flow statement 6. Cash flow statement of the parent company 7. Consolidated statement of changes in equity 8. Statement of changes in equity of the parent co III.Company profile (I) Development history (II) Business situation (III) Address, business scope and other informatio (IV) Main products of the company (V) Financial report approval date (VI) Scope of consolidated financial statements IV. Preparation basis of the financial statements 1. Preparation basis 2. Going concern V. Significant accounting policies and accounting 1. Statement on compliance with ASBE 2. Accounting period 3. Operating cycle 4. Functional currency 5. Accounting treatment for business combination u 6. Method for preparation of consolidated financia 7. Classification of joint venture arrangements an 8. Criteria for determination of cash and cash equ 9. Foreign currency transactions and translation o 10. Financial instruments 11. Inventories 12. Contract assets and contract liabilities 13. Contract cost 14. Held-for-sale assets 15. Long-term equity investments 16. Investment properties 17. Fixed assets (1) Conditions for recognition (2) Depreciation method (3) Impairment of fixed assets (4) Disposal of fixed assets 18. Construction in progress 19. Borrowing costs 20. Biological assets 21. Right-of-use assets 22. Intangible assets (1) Valuation method, service life and impairment (2) Accounting policy on internal R&D expenditures 23. Goodwill 24. Impairment of long-term assets 25. Long-term deferred expenses 26. Fair value measurement 27. Employee compensation (1) Accounting treatment method for short-term com (2) Accounting treatment method for post-employmen (3) Accounting treatment method for termination be (4) Accounting treatment method for other long-ter 28. Lease liabilities 29. Estimated liabilities 30. Share-based payment 31. Unearned premium reserve 32. Guarantee indemnity reserve 33. Revenue 34. Government subsidy 35. Deferred income tax assets/ deferred income ta 36. Lease (1) Identification and splitting of lease (2) Assessment of lease term (3) The company as a lessee (4) As a lessor (5) Sale-and-leaseback transaction 37. Changes to important accounting policies and a (1) Important accounting policy changes (2) Changes to important accounting estimates (3) Adjustment of relevant items of the financial 38. Important accounting judgments and estimates VI. Taxes 1. Main taxes and tax rates 2. Tax preferences 3. Others VII. Notes to items in consolidated financial stat 1. Monetary capital 2. Held-for-trading financial assets 3. Notes receivable (1) Notes receivable presented by category (2) Notes receivable already endorsed or discounte 4. Accounts receivable (1) Accounts receivable disclosed by category (2) Bad debt provision accrued, recovered or rever (3) Accounts receivable actually charged off in th (4) Top 5 accounts receivable in ending balance by (5) Accounts receivable terminated recognition due (6) Others 5. Prepayments (1) Prepayments presented by age (2) Top 5 prepayments in ending balance by payee 6. Other receivables (1) Dividends receivable (1) Dividends receivable by category (2) Other receivables 1) Other receivables categorized by nature of amou 2) Bad debt provision accrued 3) Bad debt provision accrued, recovered or revers 4) Other receivables actually charged off in the c 5) Top 5 other receivables in ending balance by de 7. Inventories (1) Inventories by category (2) Inventory revaluation reserve or contract perf 8. Other current assets 9. Long-term equity investments 10. Investments in other equity instruments 11. Investment properties (1) Investment properties measured at cost (2) Investment properties measured at fair value (3) Investment properties with title certificates 12. Fixed assets (1) Details of fixed assets (2) Fixed assets temporarily idle (3) Fixed assets leased under operating lease (4) Fixed assets with title certificate pending 13. Construction in progress (1) Construction in progress (2) Current changes in key construction projects i 14. Productive biological assets (1) Productive biological assets measured at cost (2) Productive biological assets measured at fair 15. Right-of-use assets 16. Intangible assets (1) Details of intangible assets (2) Land use right with certificate of title pendi 17 Development expenditure 18. Goodwill (1) Original book value of goodwill (2) Provision for goodwill impairment 19. Long-term deferred expenses 20. Deferred income tax assets/ deferred income ta (1) Deferred income tax assets not offset (2) Deferred income tax liabilities not offset (3) Deferred income tax assets or liabilities pres (4) Details of unrecognized deferred income tax as (5) Deductible losses on unrecognized deferred inc 21. Other non-current assets 22. Short-term borrowings (1) Short-term borrowings by category (2) Short-term borrowings overdue but not repaid 23. Held-for-trading financial liabilities 24. Notes payable 25. Accounts payable (1) Presentation of accounts payable 26. Contract liabilities 27. Payroll payable (1) Presentation of payroll payable (2) Presentation of short-term compensation (3) Presentation of defined contribution plan 28. Taxes payable 29. Other payables (1) Dividends payable 1) Other payables presented by nature of amount 2) Significant other payables aged over 1 year 30. Non-current liabilities due in 1 year 31. Other current liabilities 32. Reserve for insurance contract 33. Long-term borrowings (1) Long-term borrowings by category 34. Bonds payable (1) Bonds payable (2) Increase or decrease in bonds payable (excludi (3) Remarks on conditions and time of conversion i (4) Remarks on other financial instruments classif 35. Lease liabilities 36. Long-term payables (1) Presentation of long-term payables by nature 37. Deferred income 38. Share capital 39. Other equity instruments (1) Basic information about other financial instru 40. Capital reserve 41. Treasury shares 42. Other comprehensive income 43. Surplus reserve 44. Undistributed profits 45. Business revenue and operating costs 46. Taxes and surcharges 47. Selling expenses 48. Management expenses 49. R&D expenses 50. Financial expenses 51. Other revenue 52. Investment income 53. Income from change in fair value 54. Credit impairment loss 55. Asset impairment loss 56. Income from asset disposal 57. Non-business revenue 58. Non-operating expenditure 59. Income tax expenses (1) Statement of income tax expenses (2) Process of adjustment to accounting profits an 60. Other comprehensive income 61. Items in cash flow statement (1) Other cash received in connection with operati (2) Other cash paid in connection with operating a (3) Other cash received in connection with investi (4) Other cash paid in connection with investing a (5) Other cash received in connection with financi (6) Other cash paid in connection with financing a 62. Additional information about cash flow stateme (1) Additional information about cash flow stateme (2) Net cash paid for acquisition of subsidiaries (3) Net cash received from disposal of subsidiarie (4) Composition of cash and cash equivalents 63. Notes to items in the statement of changes in 64. Assets with restricted ownership or use right 65. Foreign-currency monetary items (1) Foreign-currency monetary items (2) Remarks on overseas operating entities, includ 66. Government subsidy (1) Basic information of government subsidies (2) Return of government subsidies VIII. Changes in the scope of consolidation 1. Disposal of subsidiaries 2. Changes in the scope of consolidation for other 3. Others IX. Equities in other entities 1. Equities in subsidiaries (1) Composition of the business group (2) Major non-wholly owned subsidiaries (3) Key financial information of major non-wholly 2. Transactions in which the company’s share of ow (1) Remarks on changes in the share of owner’s equ (2)Effect of such transaction on minority equity a 3. Equities in joint ventures or affiliates (1) Important joint ventures or affiliates (2) Key financial information of Important affilia (3) Summary financial information of unimportant j (4) Remarks on significant restrictions on the abi (5) Excess losses incurred by joint ventures or af (6) Unrecognized commitments related to investment (7) Contingent liabilities related to investments X. Risks related to financial instruments XI. Disclosure of fair value 1. Ending fair value of assets and liabilities mea 2. Basis for determination of market prices of con 3. Qualitative and quantitative information about XII. Related parties and related-party transaction 1. The parent company of the company 2. Subsidiaries of the company 3. Joint ventures and affiliates of the company 4. Other related parties 5. Related-party transactions (1) Related-party transactions of of purchase and (2) Related-party leases (3) Related-party guarantees (4) Remuneration of key management (5) Related-party financial services (1) Receivables (2) Payables XIII. Share-based payments 1. Overview of share-based payments 2. Share-based payments settled in equities 3. Share-based payments settled in cash 4. Modifications to and termination of share-based XIV. Commitments and contingencies 1. Material commitments 2. Contingencies (1) Material contingencies existing at the balance (2) Specify any material contingencies that the co XV. Events after the balance sheet date 1. Material non-adjusting events XVI. Other important matters 1. Segment information (1) Basis of determination of reporting segments a (2) Financial information of reporting segments (3) Specify the reason why the company has no repo (4) Other remarks 2. Other significant transactions and events that 3. Others XVII. Notes to key items of financial statements o 1. Accounts receivable (1) Accounts receivable disclosed by category (2) Bad debt provision accrued, recovered or rever (3) Top 5 accounts receivable in ending balance by 2. Other receivables (1) Dividends receivable (1) Dividends receivable by category (2) Other receivables 1) Other receivables categorized by nature of amou 2) Bad debt provision accrued 3) Bad debt provision accrued, recovered or revers 4) Top 5 other receivables in ending balance by de 3. Long-term equity investments (1) Investment in subsidiaries (2) Investments in affiliates and joint ventures (3) Other remarks 4. Business revenue and operating costs 5. Investment income XVIII. Additional information 1. Detailed statement of current non-recurring pro 2. Return on equity and earnings per share 3. Accounting data difference under domestic and f (1) Difference in net profits and net assets in fi (2) Difference in net profits and net assets in fi (3) Remarks on the reasons for accounting data dif

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