天润乳业(600419) - 2024 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2024 was ¥712,609,660.11, representing a year-on-year increase of 2.73%[2] - The net profit attributable to shareholders for Q3 2024 was ¥50,177,143.57, a significant increase of 200.51% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥50,275,816.58, up 85.64% year-on-year[2] - The basic earnings per share for Q3 2024 was ¥0.1591, reflecting a year-on-year increase of 200.76%[3] - For the first nine months of 2024, the company achieved operating revenue of CNY 2,155.77 million, a year-on-year increase of 3.50%[9] - The net profit attributable to shareholders for the same period was CNY 22.27 million, a year-on-year decrease of 84.37%[9] - The net profit for the first three quarters of 2024 was CNY 2,696,908.15, a significant decrease of 98.1% from CNY 145,638,733.54 in 2023[19] - The company's basic earnings per share for the first three quarters of 2024 was CNY 0.0706, down from CNY 0.4518 in the same period last year[20] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥434,906,576.39, showing a substantial increase of 1038.07% year-on-year[2] - The net cash flow from operating activities for Q3 2024 was approximately CNY 434.91 million, an increase from CNY 38.21 million in the same period last year[22] - The cash inflow from operating activities totaled CNY 2,433,029,232.26, slightly up from CNY 2,415,279,385.00 in the previous year[21] - The total cash inflow from operating activities in the first three quarters of 2024 was ¥6,117,033,149.21, significantly higher than ¥1,318,839,786.85 in the same period of 2023[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,832,899,509.14, an increase of 2.33% from the end of the previous year[3] - As of September 30, 2024, current assets total 1,384,441,632.41 CNY, down from 1,555,815,689.28 CNY at the end of 2023, a decrease of approximately 11%[14] - Total assets reached 5,832,899,509.14 CNY, up from 5,700,162,802.70 CNY, indicating an increase of about 2%[16] - Total liabilities increased to 3,220,215,736.44 CNY from 3,047,282,858.57 CNY, reflecting a rise of approximately 6%[17] - The company's total liabilities were CNY 1.41 billion, slightly down from CNY 1.41 billion at the end of 2023[24] Production and Sales - The sales volume of dairy products reached 233,800 tons, representing a year-on-year growth of 5.83%[9] - The average annual milk production per cow for the first nine months of 2024 is 10.73 tons[13] - The company has adjusted the purchase price of raw milk from its non-wholly-owned subsidiary based on market prices, contributing to improved profitability in Q3 2024[5] - The average price of fresh milk in major production provinces fell by 15.8% year-on-year as of late September 2024, indicating increased market competition[9] Investments and Developments - The company has invested approximately CNY 336 million in the construction of a new dairy processing project, with major construction phases completed[11] - The company established the Tianshan Lubing Dairy Industry Research Institute to enhance technological innovation in the dairy sector[13] - The company launched over 20 new products, including A2β-casein pure milk and plum-flavored yogurt, during the reporting period[11] Challenges and Adjustments - The company reported a decrease of 84.37% in net profit attributable to shareholders for the year-to-date, primarily due to increased production costs and impairment losses[5] - The company recorded a loss of ¥11,317,476.19 from the disposal of non-current assets during the reporting period[4] - The company's inventory decreased significantly to 573,174,779.83 CNY from 811,833,783.04 CNY, a reduction of about 29%[14] - The company reported a significant increase in financial expenses, which rose to CNY 29,181,475.80 from CNY 14,032,364.37 year-on-year[18] Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[19] - The company is focusing on optimizing its cattle herd structure and improving feed formulas to enhance milk production quality[11] - The company is focusing on improving cow comfort and monitoring feed intake to boost milk production during the peak season[13]