天禾股份(002999) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was ¥3,235,500,068.83, a decrease of 16.97% compared to ¥3,896,695,218.44 in the same period last year[5] - Net profit attributable to shareholders was ¥6,880,223.91, down 40.58% from ¥11,578,582.90 year-on-year[5] - Basic earnings per share decreased by 33.33% to ¥0.02 from ¥0.03 in the same period last year[5] - The total profit for the period was ¥8,891,978.38, down 56.42% from ¥20,405,626.23 in the previous year[10] - Net profit for Q1 2024 was CNY 6,924,933.19, a decline of 56.4% from CNY 15,894,775.31 in Q1 2023[24] - The total comprehensive income for the first quarter was CNY 6,815,579.14, a decrease of 56.7% compared to CNY 15,764,620.03 in the previous year[25] Cash Flow - The net cash flow from operating activities was -¥1,355,357,393.23, showing an improvement of 9.95% compared to -¥1,505,166,220.06 in the previous year[5] - Cash inflow from operating activities totaled CNY 3,488,883,676.41, down 5.9% from CNY 3,707,294,299.41 in the previous year[26] - Cash outflow from operating activities was CNY 4,844,241,069.64, a decrease of 7.1% compared to CNY 5,212,460,519.47 in the previous year[27] - The net cash flow from financing activities was CNY 1,501,781,094.57, a decrease of 4.5% from CNY 1,572,675,227.95 in the previous year[27] - The company received CNY 2,720,000.00 from investments, an increase from CNY 2,323,200.00 in the previous year[27] - The cash outflow for investing activities was CNY 106,588,299.90, compared to CNY 34,935,902.71 in the previous year[27] Assets and Liabilities - Total assets increased by 33.81% to ¥9,198,688,342.29 from ¥6,874,236,063.87 at the end of the previous year[5] - Current assets totaled CNY 7,702,176,598.72, up 42.1% from CNY 5,421,683,516.84 at the start of the year[20] - The total liabilities as of March 31, 2024, were CNY 7,726,174,528.77, an increase from CNY 5,411,257,829.49 at the beginning of the year[21] - Short-term borrowings increased significantly to CNY 2,058,719,308.53 from CNY 533,049,348.88, reflecting a rise of 285.5%[20] Research and Development - The company reported a 104.31% increase in R&D expenses, totaling ¥803,895.65 compared to ¥393,471.72 in the previous year[8] - Research and development expenses rose to CNY 803,895.65, up 104.4% from CNY 393,471.72 in the previous year[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 37,636[12] - Guangdong Supply and Marketing Group Co., Ltd. holds 30.25% of shares, totaling 105,140,000 shares[12] - Guangdong Yuehe Asset Management Co., Ltd. holds 4.03% of shares, totaling 14,000,000 shares, which are pledged[12] - The share transfer agreement involving 14,000,000 shares (4.03% of total shares) was terminated and re-signed in January 2024[15] - The company has not reported any changes in the control of major shareholders following the share transfer[15] - The top ten shareholders do not participate in margin financing activities[13] Operational Developments - As of March 31, 2024, 49 county-level agricultural service companies have been established[14] - The company plans to establish up to 100 county-level agricultural service companies with a registered capital of 3 million RMB each[14] - The company has appointed Mr. Zou Jinhang as the financial director, effective from March 26, 2024[17] Other Financial Metrics - The gross profit margin decreased significantly, leading to a 55.27% drop in operating profit to ¥8,648,467.12 from ¥19,333,035.43[10] - The company reported a decrease in government subsidies, which contributed to a 63.34% decline in non-operating income to ¥480,644.69 from ¥1,311,079.03[10] - The company reported a decrease in sales expenses to CNY 95,649,906.56 from CNY 113,044,275.23, a reduction of 15.3%[24] - Cash and cash equivalents at the end of the period were CNY 324,068,862.98, down from CNY 624,828,449.92 at the end of the previous year[27] - The company did not undergo an audit for the first quarter report[28]