金新农(002548) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,152,568,746.97, representing a 3.91% increase compared to CNY 2,071,617,520.93 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was a loss of CNY 41,780,256.00, an improvement of 82.43% from a loss of CNY 237,853,761.02 in the previous year[11]. - The net cash flow from operating activities was negative at CNY 58,361,542.02, a decline of 438.44% compared to a positive cash flow of CNY 17,244,407.24 in the same period last year[11]. - The basic earnings per share were -CNY 0.05, showing an improvement of 83.33% from -CNY 0.30 in the previous year[11]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 39,659,623.59, an improvement of 82.03% from a loss of CNY 220,739,646.34 in the previous year[11]. - The company's net loss for the first half of 2024 was ¥74,204,160.77, compared to a net loss of ¥170,154,101.22 in the first half of 2023, showing an improvement in financial performance[148]. - The total profit for the first half of 2024 was a loss of CNY 51,802,947.23, an improvement from a loss of CNY 232,849,359.58 in the first half of 2023[149]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,801,064,097.55, a decrease of 3.05% from CNY 5,983,408,511.88 at the end of the previous year[11]. - The total liabilities include short-term borrowings of ¥1,453,609,771.56, which is 25.06% of total assets, up 1.12%[35]. - The company's total liabilities decreased to ¥3,087,139,538.20 from ¥3,199,206,970.27, reflecting a reduction of approximately 3.5%[146]. - The company's total equity decreased to ¥2,508,722,428.13 from ¥2,654,149,667.89, a decline of about 5.5%[147]. Revenue Streams - Feed sales revenue was 1,217.56 million yuan, a year-on-year decrease of 4.68%, while feed sales volume increased by 11.94% to 361,200 tons[23]. - The company achieved a significant increase in revenue from livestock farming, which rose by 26.06% to ¥783,604,576.77, up from ¥621,611,871.53 in the previous year[32]. - The company reported a significant increase in revenue from the South China region, which reached ¥917,012,784.51, a year-over-year increase of 31.88%[34]. Production and Market Trends - In the first half of 2024, the total production of industrial feed in China was 145.39 million tons, a year-on-year decrease of 4.1%[15]. - The company's pig feed production decreased by 7.3% year-on-year to 66.30 million tons, with a notable decline in feed for piglets, sows, and fattening pigs[15]. - The total pork production in China was 29.81 million tons in the first half of 2024, a year-on-year decrease of 1.7%[16]. - The average price of live pigs in the market showed a recovery, with the pig-to-grain price ratio at 7.47 in June 2024, indicating a balanced supply and demand situation[17]. Investment and Capital Management - The company raised a total of 700 million yuan through a non-public stock issuance, with a net amount of approximately 689.38 million yuan after fees[48]. - The company has ongoing major non-equity investments, including a pig breeding modern agricultural production park project with a cumulative investment of ¥1,078,702,655.75[41]. - The company invested ¥86,258,048.26 during the reporting period, a decrease of 41.08% compared to ¥146,388,702.92 in the same period last year[38]. Risk Management - The company faces market risks due to rapid changes in futures market conditions, which may lead to discrepancies between futures and spot prices[46]. - The company is exposed to risks from fluctuations in pig prices, which could adversely affect its breeding business if prices fall significantly below production costs[55]. - Animal disease risks, including outbreaks of swine fever and respiratory diseases, could severely impact pig production and feed demand, potentially leading to substantial profit losses[57]. - The company has implemented a resource recycling system for livestock waste, ensuring compliance with environmental regulations and minimizing pollution[59]. Environmental and Social Responsibility - The company has invested approximately 486,300 RMB in social responsibility activities in the first half of 2024, focusing on supporting local communities and infrastructure[74]. - The company has established emergency response plans for environmental incidents across its subsidiaries to address various risk levels[70]. - The company has committed to maintaining its environmental protection facilities and pays environmental protection taxes quarterly[71]. Corporate Governance - The company has not reported any litigation related to derivative investments during the reporting period[46]. - The semi-annual financial report was not audited[78]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[129]. Shareholder Information - The total number of shares increased to 804,546,595, with 547,063 shares issued through convertible bonds during the reporting period[116]. - The company’s shareholding structure shows that 98.99% of shares are unrestricted, totaling 804,471,492 shares[115]. - The company’s stock incentive plan includes the release of 134,980 restricted shares for trading, effective January 12, 2024[63].