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丰乐种业(000713) - 2018 Q1 - 季度财报
2018-04-26 16:00
Financial Performance - The company's revenue for Q1 2018 was ¥453,277,830.38, representing a 30.56% increase compared to ¥347,191,934.27 in the same period last year[8] - Net profit attributable to shareholders was ¥15,467,865.83, a significant turnaround from a loss of ¥5,849,433.99, marking a 364.43% increase[8] - The net profit after deducting non-recurring gains and losses was ¥14,507,152.89, up 408.46% from a loss of ¥4,703,150.24 in the previous year[8] - The basic earnings per share increased to ¥0.0518 from a loss of ¥0.0196, reflecting a 364.29% improvement[8] - The weighted average return on equity rose to 1.15%, compared to -0.42% in the same period last year, an increase of 1.57%[8] - Total profit increased by 464.97%, driven by revenue growth in seed, agrochemical, and spice industries[16] - Net profit rose by 392.67%, attributed to increased income from seed, agrochemical, and spice sectors[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,171,907,323.01, a slight decrease of 0.96% from ¥2,192,910,477.92 at the end of the previous year[8] - The net assets attributable to shareholders increased by 1.06% to ¥1,351,181,230.46 from ¥1,336,988,107.86[8] - Accounts receivable increased by 119.92%, reflecting higher sales in agrochemical and spice products[16] Cash Flow - The company reported a net cash flow from operating activities of -¥70,108,867.89, an improvement of 36.67% from -¥110,699,634.87 in the previous year[8] - Cash received from investment income increased by 221.79%, primarily due to higher financial management interest[16] - Cash received from other operating activities rose by 451.88%, mainly from repayments from joint venture Sanya Fengle[16] - The company’s cash flow from financing activities increased significantly, with cash received from borrowings rising by 439.54%[16] Revenue Drivers - Revenue growth was driven by the expansion of the agricultural chemical industry and increased sales in the fragrance sector, despite a delay in the market launch of key seed products[15] Expenses - Taxes and surcharges increased by 80.89%, primarily due to additional tax provisions related to the Fengle Grand Hotel and property taxes for the Anhui North branch[15] - Financial expenses increased by 356.71%, primarily due to increased bank loan interest and decreased interest income from time deposits[16] Investments - The company purchased a total of 10 bank financial products, with a total investment amount of CNY 166.25 million and total returns of CNY 242,623.04[18] Compliance - The company has no overdue commitments or violations regarding external guarantees during the reporting period[20]
丰乐种业(000713) - 2017 Q4 - 年度财报
2018-04-17 16:00
Financial Performance - The company's operating revenue for 2017 was CNY 1,446,714,027.92, representing an increase of 18.81% compared to CNY 1,217,693,090.22 in 2016[16] - The net profit attributable to shareholders for 2017 was CNY 11,657,551.56, a decrease of 45.48% from CNY 21,383,787.22 in 2016[16] - The net cash flow from operating activities was negative CNY 141,740,245.58, an improvement of 47.11% compared to negative CNY 267,984,304.84 in 2016[16] - The total assets at the end of 2017 were CNY 2,192,910,477.92, reflecting a growth of 5.79% from CNY 2,072,865,589.53 at the end of 2016[17] - The net assets attributable to shareholders decreased by 3.68% to CNY 1,336,988,107.86 from CNY 1,388,023,316.79 in 2016[17] - The basic earnings per share for 2017 were CNY 0.0390, down 45.45% from CNY 0.0715 in 2016[16] - The weighted average return on net assets was 0.84%, a decline of 0.71% from 1.55% in 2016[16] - The net profit after deducting non-recurring gains and losses was negative CNY 106,158,562.20, worsening by 109.10% from negative CNY 50,768,786.89 in 2016[16] Revenue Breakdown - Total revenue for the fourth quarter reached ¥516,887,966, showing a significant increase compared to previous quarters[21] - The net profit attributable to shareholders for the fourth quarter was ¥52,073,357, a turnaround from losses in the first three quarters[21] - The net cash flow from operating activities improved to ¥17,188,090 in the fourth quarter, contrasting with negative cash flows in earlier quarters[21] - Non-recurring gains for the year amounted to ¥117,816,113, with government subsidies contributing ¥11,952,775[21] - The company reported a total of ¥40,381,715 from non-current asset disposals, indicating a decrease from previous years[21] - The seed industry generated revenue of CNY 272.11 million, down 11.88% from CNY 308.78 million in the previous year, primarily due to aging product structure and lack of scale for new varieties[48] - The agrochemical industry saw revenue increase to CNY 876.88 million, up 33.33% from CNY 657.66 million, driven by effective marketing policies and expansion of fertilizer business[48] - The spice industry reported revenue of CNY 297.73 million, a growth of 22.55% from CNY 242.94 million, attributed to increased sales volume and prices of main products[48] Business Operations - The company has not reported any changes in its main business since its listing[15] - The main business includes seed production, with hybrid rice and corn seeds being key products, targeting various suitable planting regions[26] - The company is subject to specific disclosure requirements due to its involvement in the seed and planting industry[26] - The company has a diverse product line, including herbicides and insecticides in its agricultural chemical segment[26] - The company maintains a "company + distributor + farmer" sales model for its seed and agricultural chemical products, ensuring effective distribution and sales management[36] - The seed production process is based on a self-manufacturing model, with contracts signed with production bases to ensure quality and mitigate risks associated with natural disasters[37] - The company has established a comprehensive seed detection and control system to effectively reduce production risks and maintain stable production bases[37] Research and Development - Hefei Fengle is focusing on research and development of new seed technologies to improve yield and disease resistance, which is critical for future growth[28] - The company has a professional R&D team of 74 members, including 4 PhDs and 30 Master's degree holders, enhancing its research capabilities[42] - The company established nine breeding stations and nine ecological testing stations across major agricultural regions in China, enhancing its R&D capabilities[75] - The company plans to enhance its research capabilities through deep cooperation with research institutions, focusing on high-efficiency molecular detection technologies for rice varieties[126] - In 2017, the company applied for 18 new invention patents and received authorization for 5, indicating a strong focus on innovation[50] Strategic Initiatives - Future strategies may involve expanding product offerings and enhancing market presence in targeted regions[26] - The company is exploring potential mergers and acquisitions to strengthen its position in the agricultural sector and diversify its offerings[29] - The company plans to enhance collaboration with enterprises and expand cotton seed production areas to meet market demand[114] - The company is looking to pursue mergers and acquisitions in key regions to complement its main business resources and enhance its industry chain[127] - The company aims to leverage national policies promoting agricultural innovation and quality improvement to enhance its market position[121] Shareholder Policies - The company plans not to distribute cash dividends or issue bonus shares[5] - The company did not distribute cash dividends for the year 2017, with a net profit attributable to shareholders of 11,657,551.56 CNY, resulting in a cash dividend payout ratio of 0.00%[134] - The company has emphasized the importance of investor returns and will utilize all undistributed profits for operational and developmental purposes[135] - The company has made a commitment to maintain compliance with its cash dividend policy and ensure the protection of minority shareholders' rights[135] Environmental and Social Responsibility - The company has actively participated in social responsibility initiatives, including environmental protection and poverty alleviation efforts[173] - The company has closed high-pollution production facilities in response to local government requests to combat air pollution[176] - The company has developed low-pollution and low-residue environmentally friendly pesticide formulations to reduce environmental impact[176] - The company has established an emergency response plan for environmental incidents and conducts regular drills to mitigate environmental risks[177] Legal and Compliance - The company faced legal challenges, with some accounts frozen by the Shenzhen Intermediate People's Court due to a dispute involving creditor interests[85] - The company has no significant litigation or arbitration matters pending[152] - The company has not experienced any penalties or rectification issues during the reporting period[153] Management and Governance - The management team includes professionals with extensive backgrounds in various sectors, enhancing the company's strategic capabilities[198] - The company has established a comprehensive evaluation and incentive system for senior management based on operational performance and industry averages[200] - The current board includes Yang Lin as Chairman and General Manager of Hefei Fengle Seed Industry Co., Ltd. and other key positions held by independent directors and management[198]
丰乐种业(000713) - 2017 Q3 - 季度财报
2017-10-29 16:00
合肥丰乐种业股份有限公司 2017 年第三季度报告正文 证券代码:000713 证券简称:丰乐种业 公告编号:2017--052 合肥丰乐种业股份有限公司 2017 年第三季度报告正文 1 合肥丰乐种业股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨林、主管会计工作负责人孙余江及会计机构负责人(会计主管 人员)杨念龙声明:保证季度报告中财务报表的真实、准确、完整。 2 合肥丰乐种业股份有限公司 2017 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产(元) | 2,422,201,912.03 | 2,072,865,589.53 | | 16.85% | | 归 ...
丰乐种业(000713) - 2015 Q2 - 季度财报(更新)
2017-10-20 16:00
Financial Performance - The company's operating revenue for the first half of 2015 was ¥425,299,825.82, a decrease of 31.31% compared to ¥619,195,059.61 in the same period last year[21]. - The net profit attributable to shareholders was ¥8,122,676.61, down 44.32% from ¥14,588,071.90 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥1,091,533.11, a significant increase of 139.76% compared to a loss of ¥2,745,572.22 in the previous year[21]. - Basic earnings per share decreased by 44.26% to ¥0.0272 from ¥0.0488 year-on-year[21]. - The total operating costs were CNY 422.42 million, down 31.6% from CNY 617.84 million year-on-year[133]. - The total comprehensive income for the period was CNY 16.78 million, compared to CNY 14.54 million in the previous year[134]. - The total comprehensive income for the first half of 2015 was -549,403,000 RMB, compared to 28,547,000 RMB in the same period of the previous year[157]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥3,202,808.34, a decline of 130.08% from ¥10,647,247.54 in the same period last year[21]. - Cash inflows from operating activities amounted to CNY 449.99 million, down 30.4% from CNY 646.82 million in the same period last year[138]. - The total cash and cash equivalents at the end of the period decreased to 85,473,242.61 CNY from 313,457,286.23 CNY, indicating a substantial reduction in liquidity[141]. - The company experienced a net decrease in cash and cash equivalents of -227,000,449.01 CNY, compared to -39,050,973.62 CNY in the previous period, indicating ongoing liquidity challenges[141]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,768,897,372.81, down 6.36% from ¥1,888,971,512.86 at the end of the previous year[21]. - Total liabilities decreased to CNY 427,762,523.83 from CNY 577,821,381.60, reflecting a reduction of approximately 26%[130]. - The company's total equity at the end of the period was 1,309,509,000 CNY, with a decrease in retained earnings amounting to 8,966,270 CNY[155]. Investment and R&D - R&D investment increased by 29.39% to CNY 4.57 million, reflecting the company's commitment to innovation[34]. - The company made an external investment of ¥1,800,000 during the reporting period, a 100% increase compared to ¥0 in the same period last year[41]. - The company has established a comprehensive breeding testing network with six breeding stations and five ecological testing stations[40]. Market and Business Strategy - The company plans to focus on the development of hybrid corn and rice seeds, while also exploring new growth points in conventional rice and wheat seeds[31]. - The company aims to expand its marketing network for hybrid rice seeds in Hunan and the Southeast, and to enter the Northeast market for conventional rice seeds[31]. - The company plans to enhance market promotion efforts in Central and Southern China due to changes in market conditions[55]. Shareholder and Equity Information - The largest shareholder, Hefei Construction Investment Holding Group Co., Ltd., holds 34.11% of the shares, maintaining a significant influence over the company[108]. - The number of ordinary shareholders at the end of the reporting period was 38,400, indicating a stable shareholder base[107]. - The company’s controlling shareholder has committed to not reducing their stake in the company for six months and plans to increase their holdings by up to 10,000,000 shares if the stock price falls below ¥7.88 per share[112]. Regulatory and Compliance - The financial statements were prepared in accordance with the accounting standards set by the Ministry of Finance, ensuring accuracy and completeness[166]. - The company has established a comprehensive internal control system in compliance with regulatory requirements[69]. - The company has not reported any major issues or problems with the use and disclosure of raised funds[52]. Challenges and Risks - The company experienced a seasonal downturn in the seed industry during July to September, leading to expected seasonal losses[60]. - The company’s subsidiary, Wuhan Fengle Seed Co., Ltd., reported a net loss of 1,485,504.70 CNY for the period[58]. - The overall financial health of the company shows a trend of decreasing profits and equity, necessitating strategic adjustments moving forward[147].
丰乐种业(000713) - 2015 Q1 - 季度财报(更新)
2017-10-20 16:00
Financial Performance - Revenue for Q1 2015 was CNY 190.90 million, a decrease of 24.57% compared to CNY 253.07 million in the same period last year[8]. - Net profit attributable to shareholders increased by 43.84% to CNY 20.28 million from CNY 14.10 million year-on-year[8]. - Basic earnings per share rose by 43.86% to CNY 0.0679 from CNY 0.0472 in the same period last year[8]. - Total assets decreased by 4.19% to CNY 1.81 billion from CNY 1.89 billion at the end of the previous year[8]. - Net cash flow from operating activities was negative at CNY -66.11 million, a decline of 154.92% compared to CNY -25.94 million in the previous year[8]. Government Support and Income - The company received CNY 9.60 million in government funding for strategic emerging industries, contributing to a 67.06% increase in deferred income[15]. - Cash received related to operating activities increased by 538.88%, primarily due to an increase in government subsidies received by the parent company[16]. - Income tax expenses decreased by 91.62%, primarily due to a significant reduction in the profit of the subsidiary Fengle Agricultural Chemicals[16]. - Cash received from tax refunds decreased by 83.85%, mainly due to reduced export tax rebates received by subsidiaries Fengle Agricultural Chemicals and Fengle Spices[16]. Operating Costs and Expenses - Operating costs decreased by 34.86%, indicating a larger decline than the drop in sales revenue[15]. - Operating expenses increased by 3,465.6%, mainly due to losses of 24,700 yuan during the shipment of rice seeds[16]. - Short-term borrowings decreased by 35.82%, primarily due to repayments by the parent company[15]. Investments and Asset Management - Investment income increased by 100%, attributed to the returns from purchased financial products this year[16]. - The company signed an asset transfer agreement with Beicheng Construction Investment for the transfer of Fengle Ecological Park assets at an assessed value of 140.5028 million yuan[17]. - The company is actively pursuing the collection of remaining asset transfer payments, totaling 67.25 million yuan, from the asset transfer to Beicheng Construction Investment[18]. - The company held 21,475,146 shares of Huishang Bank, which is listed in Hong Kong, during the reporting period[27]. - The company has purchased financial products with a total limit of 100 million yuan, with a remaining balance of 65 million yuan as of March 31, 2015[20]. Corporate Governance and Shareholder Relations - The company announced that it would not plan any major asset restructuring for at least six months starting from November 28, 2014, in compliance with relevant regulations[25]. - The company has made commitments to small shareholders and has fulfilled them in a timely manner[25]. - The company is committed to maintaining independent operations from its controlling shareholder, ensuring personnel, assets, and financial independence[24]. - The company faced challenges in its major asset restructuring plans, which were ultimately unsuccessful[24]. - The company has not reported any significant changes in net profit expectations for the first half of 2015[26]. Investor Relations - The number of ordinary shareholders at the end of the reporting period was 53,309[11]. - The largest shareholder, Hefei Construction Investment Holding Group Co., Ltd., held 34.11% of the shares[11]. - The company conducted multiple investor communications and site visits during January 2015[30]. - The company has not provided any written materials during investor communications[30]. - There were no securities investments during the reporting period[26]. - The company confirmed that it has not engaged in any derivative investments during the reporting period[28].
丰乐种业(000713) - 2015 Q3 - 季度财报(更新)
2017-10-20 16:00
Financial Performance - Operating revenue for the reporting period was CNY 109,504,853.77, an increase of 232.96% year-on-year, while year-to-date revenue decreased by 17.99% to CNY 534,804,679.59[8] - Net profit attributable to shareholders was a loss of CNY 56,275,458.95, a decrease of 39.14% compared to the same period last year, with a year-to-date loss of CNY 48,152,782.34, down 86.22%[8] - Basic and diluted earnings per share were both CNY -0.1883, reflecting a decrease of 39.17% year-on-year and 86.24% year-to-date[8] - The estimated cumulative net profit for the year is projected to be 8 million yuan, a decrease of 86.89% compared to the previous year's 61.01 million yuan[24] - Basic earnings per share are expected to be 0.0268 yuan, down 86.86% from 0.2040 yuan in the previous year[24] - The decline in net profit is attributed to the absence of non-operating income from the disposal of subsidiaries and a decrease in revenue and profit from the seed industry segment[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,881,966,317.93, a decrease of 0.37% compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 4.28% to CNY 1,287,230,008.88 from the previous year[8] - Cash and cash equivalents decreased by 56.25% to ¥136.70 million due to a reduction in loans[16] - Accounts receivable decreased by 60.64% to ¥4.04 million primarily due to the endorsement transfer of notes in the agricultural chemical business[16] - Prepaid accounts increased by 30.86% to ¥57.82 million due to an increase in seed production area[16] - Other current assets surged by 2861.94% to ¥92.54 million mainly due to an increase in purchased financial products[16] - Construction in progress rose by 99.36% to ¥25.56 million due to increased investment in chemical intermediate projects[16] - Development expenses increased by 53.06% to ¥31.91 million due to increased investment in independent breeding research and development[16] - Short-term borrowings decreased by 89.64% to ¥11.69 million as a result of repaying bank loans[16] - Deferred income decreased by 30.33% to ¥11.27 million due to the acceptance of the enterprise innovation capability construction project[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,113[12] - The largest shareholder, Hefei Construction Investment Holding (Group) Co., Ltd., held 34.11% of the shares, totaling 101,941,200 shares[12] Non-Operating Income and Investments - Non-operating income for the year-to-date amounted to CNY 17,694,372.94, primarily from government subsidies and asset disposals[9] - The company has invested a total of ¥36.78 million in various bank financial products, yielding a total return of ¥1.86 million[18] - The company holds 21,475,146 shares of Huishang Bank, which is listed in Hong Kong, with no trading of other listed company shares during the reporting period[26] - The company has not engaged in any securities or derivative investments during the reporting period[25][27] Corporate Governance and Future Plans - The company plans to maintain stock price stability by committing not to reduce holdings within the next six months and to buy back 10 million shares if the stock price falls below 7.88 yuan per share[22] - The company aims to enhance its main business performance and strictly adhere to its dividend policy to attract long-term value investment[22] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[30] - The company has committed to improving the quality of information disclosure to enhance transparency and investor confidence[23] - The company will continue to operate independently from its controlling shareholder to ensure operational integrity[21] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 47,151,187.68, down 37.10%[8] - The weighted average return on net assets was -4.26%, a decrease of 1.10% compared to the previous year[8] - Net profit decreased by 86.56% to -¥48.15 million primarily due to a reduction in non-operating income[16]
丰乐种业(000713) - 2016 Q3 - 季度财报(更新)
2017-10-20 16:00
合肥丰乐种业股份有限公司 2016 年第三季度报告正文 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨林、主管会计工作负责人孙余江及会计机构负责人(会计主管 人员)杨念龙声明:保证季度报告中财务报表的真实、准确、完整。 2 合肥丰乐种业股份有限公司 2016 年第三季度报告正文 证券代码:000713 证券简称:丰乐种业 公告编号:2016--044 合肥丰乐种业股份有限公司 2016 年第三季度报告正文 1 合肥丰乐种业股份有限公司 2016 年第三季度报告正文 第一节 重要提示 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产(元) | 2,030,700,449.38 | 1,862,867,094. ...
丰乐种业(000713) - 2016 Q1 - 季度财报(更新)
2017-10-20 16:00
Financial Performance - Revenue for Q1 2016 was CNY 231,140,227.66, an increase of 21.08% compared to CNY 190,895,016.52 in the same period last year[8] - Net profit attributable to shareholders decreased by 30.04% to CNY 14,190,882.97 from CNY 20,284,207.44 year-on-year[8] - Net cash flow from operating activities was negative at CNY -90,822,438.24, a decline of 37.37% compared to CNY -66,114,542.88 in the previous year[8] - Gross profit margin decreased due to rising raw material costs in the spice industry, leading to a 32.13% drop in operating profit[15] - Other income increased by 424.33%, primarily due to higher government subsidies in agriculture and spices compared to last year[15] - The weighted average return on equity decreased to 1.04% from 1.50% year-on-year[8] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,866,091,397.34, a slight increase of 0.17% from CNY 1,862,867,094.93 at the end of the previous year[8] - Accounts receivable increased by 91.42%, attributed to business expansion in the agricultural and spice sectors[15] - Prepaid accounts increased by 30.69%, mainly due to advance payments for seed production in the corn industry[15] - Taxes payable decreased by 58.33%, primarily due to tax payments made by Fengle Agrochemical and Fengle Spices in the current period[16] Cash Flow - Cash received from tax refunds increased by 73.63%, mainly due to an increase in tax refunds for the agrochemical company[16] - Cash received from other operating activities decreased by 53.29%, mainly due to a reduction in government special funds received in the current period compared to the previous period[16] - Net cash flow from operating activities decreased by 37.37%, primarily due to a decrease in cash received from other operating activities and an increase in cash paid for other operating activities[16] Investment and Financial Activities - Investment income increased by 309.33%, attributed to higher returns from purchased financial products[16] - The company purchased a total of 5 bank financial products in the first quarter, with a total investment amount of RMB 220 million and total financial income of RMB 1,052,084.94[17][19] Strategic Initiatives - The relocation project of Fengle Agrochemical's Sanhe formulation plant was initiated due to the site becoming a national AAAA-level tourist attraction, with a total compensation amount of RMB 46,300,436.78 approved for the relocation[19][20] - The first phase of the compensation payment for the relocation project was received, amounting to RMB 23,150,218.39[20] - The company acquired 51% of Hunan Jinnong Seed Industry Co., Ltd. as part of its strategic expansion efforts[21] Shareholder and Market Activities - The company plans to increase its stock holdings by 10 million shares if the stock price falls below 7.88 CNY per share, and will not reduce holdings within 6 months after the increase[25] - The company aims to enhance its main operating performance through continuous innovation and strict adherence to its dividend policy to attract long-term value investors[25] Governance and Compliance - The company is committed to improving the quality of information disclosure, ensuring its accuracy, timeliness, and completeness, while actively clarifying any misinformation[25] - There are no significant changes expected in the cumulative net profit from the beginning of the year to the next reporting period[27] - The company has not engaged in any securities or derivative investments during the reporting period[28][29] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[31]
丰乐种业(000713) - 2017 Q1 - 季度财报(更新)
2017-10-20 16:00
Revenue and Profitability - Revenue for Q1 2017 reached ¥347,191,934.27, an increase of 50.21% compared to ¥231,140,227.66 in the same period last year[8] - Net profit attributable to shareholders was a loss of ¥5,849,433.99, a decrease of 141.22% from a profit of ¥14,190,882.97 in the previous year[8] - Net profit decreased by 136.94%, primarily due to a decline in gross profit from seed and agrochemical segments and a reduction in non-operating income[20] - Basic earnings per share are projected to be between -0.0903 to -0.0435 yuan, reflecting a decrease of 0.0142 yuan[23] Cash Flow and Investments - Operating cash flow showed a net outflow of ¥110,699,634.87, which is a 21.89% increase in outflow compared to ¥90,822,438.24 last year[8] - Cash flow from investing activities decreased by 83.07%, mainly due to a reduction in redeemed financial products[20] - Cash and cash equivalents decreased by 35.29%, attributed to significant capital expenditures for expanding agrochemical production[20] - Cash paid for purchasing fixed assets increased by 265.48%, primarily due to investments in expanding agrochemical production capacity[20] - Cash received from tax refunds increased by 641.32%, mainly due to higher tax refunds in the agrochemical sector[20] - Cash paid for dividends and interest increased by 651.65%, primarily due to increased loan amounts and interest payments[20] Operating Performance - Operating costs increased by 75.22%, primarily due to the rise in revenue and a decline in gross margin[16] - Operating profit decreased by 129.30%, attributed to adjustments in product structure and increased costs in the agricultural chemical sector[16] - Financial expenses increased by 223.18%, mainly due to higher bank loan interest and reduced interest income from time deposits[20] Non-Operating Income and Expenses - Non-operating income rose by 206.63%, mainly due to increased government subsidies in the agricultural chemical business[16] - Non-operating expenses surged by 4453.63%, largely due to compensation payments for the early termination of a lease contract related to the Fengle Hotel[16] Balance Sheet and Assets - Total assets at the end of the reporting period were ¥2,050,796,270.63, a decrease of 1.06% from ¥2,072,865,589.53 at the end of the previous year[8] - The weighted average return on net assets was -0.42%, down from 1.04% in the previous year[8] - Accounts receivable increased by 46.85%, primarily due to the expansion of the agrochemical business[20] Future Outlook - The company expects a cumulative net loss of between -27 million to -13 million yuan for the first half of 2017, a decline of 425.41% compared to the same period last year[23] - The company reported a significant decrease of 93.12% in cash received from investment income, primarily due to reduced financial product returns[17]
丰乐种业(000713) - 2016 Q2 - 季度财报(更新)
2017-10-20 16:00
Financial Performance - The company's operating revenue for the first half of 2016 was ¥524,669,603, representing a 23.36% increase compared to ¥425,299,825.82 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of ¥4,254,078.42, a decrease of 152.37% from a profit of ¥8,122,676.61 in the previous year[20]. - The net cash flow from operating activities was -¥167,949,706.24, a significant decline of 5,143.83% compared to -¥3,202,808.34 in the same period last year[20]. - The basic earnings per share were -¥0.0142, down 152.21% from ¥0.0272 in the previous year[20]. - The total comprehensive income for the period was -18,823,216.71 CNY, compared to -8,557,461.02 CNY in the previous period, indicating a decline in overall financial performance[138]. - The total operating costs rose to CNY 537,480,606.83, up from CNY 422,418,459.97, reflecting a significant increase in operating expenses[133]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,878,904,405.02, an increase of 0.86% from ¥1,862,867,094.93 at the end of the previous year[20]. - The total liabilities increased to CNY 519,318,355.37 from CNY 500,798,409.13, indicating a rise of approximately 3.1%[125]. - The company's equity attributable to shareholders decreased to CNY 1,358,746,948.03 from CNY 1,362,068,685.80, a decline of about 0.2%[126]. - The total current liabilities amounted to CNY 485,852,454.06, up from CNY 467,834,354.20, an increase of approximately 3.2%[125]. Revenue Segments - The agricultural chemical segment saw revenue growth of 42.55%, while the seed segment grew by 4.54%[29]. - The domestic revenue increased by 17.59% to 459.42 million yuan, while international revenue saw a slight increase of 3.72%[36]. Research and Development - R&D investment increased by 84.98% to 8.45 million yuan, reflecting the company's commitment to innovation[32]. - The company has participated in 12 provincial and national-level technology projects in the past two years, including 7 national projects, resulting in numerous technological achievements and 24 valid invention patents[39]. Strategic Initiatives - The company plans to exit the hotel service industry to focus on its core business[29]. - The company is actively pursuing external collaborations and mergers to strengthen its market position[29]. - The company aims to enhance management efficiency and implement a performance-oriented incentive system[29]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 33,504[108]. - The largest shareholder, Hefei Construction Investment Holding (Group) Co., Ltd., holds 101,941,200 shares, accounting for 34.11% of the total[110]. - The company’s stock was publicly listed on the Shenzhen Stock Exchange on April 22, 1997, with an initial public offering of 44 million shares[158]. Governance and Compliance - The company has established a comprehensive internal control system and governance structure in compliance with relevant laws and regulations[62]. - There were no significant litigation or arbitration matters during the reporting period[65]. - The company maintained transparency in information disclosure, ensuring timely and accurate communication with shareholders[63]. Cash Flow Management - Cash inflows from operating activities totaled 383,604,471.48 CNY, down from 449,990,970.02 CNY in the previous period, showing a decline of approximately 14.8%[140]. - The net cash flow from operating activities was -167,949,706.24 CNY, compared to -3,202,808.34 CNY in the previous period, indicating a significant deterioration in cash generation[141]. - The ending balance of cash and cash equivalents was 132,954,359.76 CNY, compared to 85,473,242.61 CNY in the previous period, indicating an increase of approximately 55.5%[142]. Investment Activities - The company reported an investment income of CNY 5,237,148.21, significantly higher than CNY 984,255.48 from the previous year[133]. - The company has reported a projected cumulative net loss of ¥7,900,000 for the period from the beginning of the year to the next reporting period, indicating a 64.06% decrease compared to the previous year's net profit of ¥5,100,000[55]. Financial Instruments and Accounting Policies - The company recognizes financial assets or liabilities at fair value if they meet specific criteria, including those held for trading or designated at fair value[189]. - The company assesses impairment of financial assets, including available-for-sale assets, based on objective evidence of impairment[199]. - The company recognizes interest income from held-to-maturity investments based on the effective interest rate determined at acquisition[191].