May 21, Henan Jinyuan Seed Industry Limited Liability Company (hereinafter referred to as "Jinyuan Seed Industry") received the third round of examination and inquiry letter from Beijing Stock Exchange, the sponsor Minsheng Securities Co., Ltd., and the sponsor representatives are Ma Xiangtao and Xia Youjie.

According to Rui Finance, Jinyuan Seed Industry is a modern biological breeding enterprise that uses modern biotechnology, big data information technology and other modern agricultural technologies to cultivate new varieties of major crops such as corn and wheat, and specialized production and promotion of the cultivation results.

In terms of performance, from 2020 to 2022 and from January to March 2023, the operating revenue of Jinyuan Seed Industry will be 248 million yuan, 288 million yuan, 300 million yuan and 36.9062 million yuan respectively, with growth rates of 15.82%, 4.34% and 44.62% since 2021.

During the reporting period, the operating revenue of Jinyuan Seed Industry increased year by year, and the net profit showed a trend of rising first and then falling. The year-on-year decline of net profit in 2023 was mainly due to the decline of investment income included in non recurring profits and losses.

The orders in hand of Jinyuan Seed Industry at the end of 2023 are 19.3786 million yuan. Based on the proportion of advance receipts at the end of 2022 to sales revenue in 2023, it is estimated that the sales revenue of corn and wheat seeds in 2024 will be 226 million yuan, a decrease of 82 million yuan compared with 2023. Jinyuan Seed Industry adopts the sales policy of "payment before delivery" to dealers' customers. It collects wheat seed funds in advance from June to July each year, and corn seed funds in advance from August to October. At the end of each year, it is not the month of centralized collection of advance payments.

Accordingly, Jinyuan Seed is required to explain whether there is a risk of significant decline in its business performance in the future, and improve the risk disclosure and major event tips.