扬农化工(600486) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 3,175,722,146.35, a decrease of 29.43% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 429,124,709.66, down 43.11% year-on-year[4] - Basic earnings per share were CNY 1.056, a decrease of 43.60% year-on-year[4] - Total operating revenue for Q1 2024 was CNY 3,175,722,146.35, a decrease of 29.4% compared to CNY 4,500,001,753.05 in Q1 2023[18] - Net profit for Q1 2024 was CNY 429,255,744.17, a decline of 43.1% from CNY 754,527,453.92 in Q1 2023[20] - Basic earnings per share for Q1 2024 were CNY 1.056, down from CNY 1.872 in Q1 2023[20] - Total comprehensive income for Q1 2024 was CNY 438,419,313.59, down from CNY 757,417,242.61 in Q1 2023[20] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 1,132,964,225.39, reflecting a decline of 25.52% compared to the previous year[4] - Cash flow from operating activities for Q1 2024 was CNY 1,132,964,225.39, a decrease of 25.5% compared to CNY 1,521,076,742.64 in Q1 2023[23] - The net cash flow from investing activities was -100,986,815.93 CNY, compared to -194,830,300.92 CNY in the previous period, indicating an improvement[24] - The net cash flow from financing activities was 293,088,157.96 CNY, a turnaround from -6,941,770.17 CNY in the previous period[24] - The total cash and cash equivalents at the end of the period reached 1,854,504,023.19 CNY, compared to 3,482,180,208.21 CNY at the end of the previous period[24] - The company reported a total cash outflow from investing activities of 406,771,992.00 CNY, up from 200,040,800.78 CNY in the previous period[24] - The cash outflow for debt repayment was 850,000,000.00 CNY, consistent with the previous period's 250,000,000.00 CNY[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,104,053,199.00, an increase of 8.92% from the end of the previous year[4] - Total assets amounted to approximately RMB 17.10 billion, an increase of 8.5% from RMB 15.70 billion at the end of 2023[16] - Total liabilities increased to approximately RMB 6.98 billion, up 15.8% from RMB 6.03 billion at the end of 2023[16] - The company's equity attributable to shareholders reached approximately RMB 10.12 billion, an increase of 4.6% from RMB 9.67 billion at the end of 2023[16] Operational Efficiency - The company's cash and cash equivalents increased by 72.55%, primarily due to increased cash flow from operating activities[6] - Research and development expenses decreased by 35.96% due to a drop in the prices of R&D materials[7] - Management expenses were reduced by 35.91% as a result of cost-cutting measures implemented by the company[7] - The company received government subsidies amounting to CNY 1,030,815.61, contributing to other income growth of 107.97%[7] - The company reported a significant increase in accounts receivable by 46.87% due to the peak season for pesticide sales[6] - Accounts receivable increased to approximately RMB 2.78 billion, up 46.9% from RMB 1.89 billion at the end of 2023[11] - Inventory decreased to approximately RMB 1.38 billion, down 13.2% from RMB 1.59 billion at the end of 2023[11] Other Information - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[10] - There are no changes in the major shareholders or their participation in financing activities compared to the previous period[10] - The company reported a foreign exchange gain of CNY 8,265,081.39 in Q1 2024, compared to CNY 2,889,788.69 in Q1 2023[20] - The company recorded a financial asset impairment loss of CNY 45,760,703.88 in Q1 2024, compared to a gain of CNY 54,172.50 in Q1 2023[18] - The company did not apply new accounting standards for the current reporting period[24] - The cash inflow from financing activities totaled 1,150,000,000.00 CNY, significantly higher than 250,000,271.20 CNY in the previous period[24] - The total cash inflow from financing activities was significantly bolstered by new borrowings of 1,150,000,000.00 CNY[24]