深粮控股(000019) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,416,452,919.61, a decrease of 14.67% compared to CNY 2,831,996,801.82 in the same period last year[11]. - The net profit attributable to shareholders was CNY 129,030,850.78, down 23.26% from CNY 168,149,768.31 year-on-year[11]. - The net profit after deducting non-recurring gains and losses was CNY 116,892,371.77, reflecting a decline of 26.53% compared to CNY 159,103,953.25 in the previous year[11]. - The net cash flow from operating activities was negative at CNY -158,531,444.41, a significant decrease of 289.85% from CNY 83,503,352.21 in the same period last year[11]. - Basic earnings per share were CNY 0.1120, down 23.24% from CNY 0.1459 in the previous year[11]. - The total profit for the first half of 2024 was 165 million yuan, down by 49 million yuan compared to the previous year, while the net profit attributable to shareholders was 129 million yuan, a decrease of 39 million yuan year-on-year[20]. - The grain and oil sector faced a decline in sales volume, leading to a significant drop in revenue and gross profit due to weak consumption and international grain price trends[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,390,257,559.37, a slight decrease of 0.11% from CNY 7,398,528,190.94 at the end of the previous year[11]. - The net assets attributable to shareholders decreased by 2.10% to CNY 4,723,330,417.23 from CNY 4,824,452,103.84 at the end of the previous year[11]. - Short-term borrowings rose to CNY 1,471,993,682.19, representing 19.92% of total liabilities, an increase attributed to dividend payments and operational funding needs[29]. - Total liabilities increased to CNY 2,631,359,570.58, up from CNY 2,520,866,532.42, reflecting a growth of approximately 4.4%[74]. - Current liabilities totaled CNY 2,490,258,085.57, compared to CNY 2,371,369,153.93, indicating an increase of about 5.0%[74]. Cash Flow - The net cash flow from investment activities improved by 102.85% to CNY 7,279,212.52, compared to -CNY 255,045,437.38 in the same period last year, attributed to the purchase of financial products using idle funds[25]. - The company reported a net decrease in cash and cash equivalents of -CNY 158,523,960.13, a decline of 437.17% from an increase of CNY 47,016,660.48 in the previous year, primarily due to reduced operating cash flow[25]. - Cash inflow from sales of goods and services was CNY 2,416,339,686.68, a decrease from CNY 2,908,830,118.57 in the first half of 2023, reflecting a decline of approximately 16.9%[83]. Business Operations - The main business activities include wholesale and retail of grain products, food processing, and leasing services, with a focus on stabilizing supply and enhancing brand strength despite grain price fluctuations[16]. - The company is transitioning from a trade-oriented model to a service-oriented model, enhancing operational efficiency through an integrated information management system[17]. - The company has established an online and offline multi-level product supply network, promoting the "Internet + Grain" retail model through e-commerce platforms like Tmall and JD.com[17]. - The company has developed a diverse product line including various brands of flour, rice, edible oil, and tea, with new product launches such as "Jinyue" tea wine to enrich product structure[16]. Risk Management - The company has detailed potential risks and corresponding countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[2]. - The company is facing risks from fluctuations in grain and oil prices due to external factors like the Russia-Ukraine conflict and extreme weather[42]. - The company has established a strategic cooperation to mitigate the impact of grain and oil price volatility on its operations[42]. Corporate Governance - The company has a strong management team focused on strategic development and operational efficiency, fostering a performance-driven culture[17]. - The company emphasizes talent development and has implemented a performance assessment mechanism to align employee goals with corporate vision[17]. - The company is focused on enhancing its governance structure and improving operational efficiency through a comprehensive risk management framework and data governance initiatives[22]. Social Responsibility - The company is actively engaging in rural revitalization efforts, including organizing tree planting activities and supporting local agricultural enterprises[48]. - The company donated 40 sets of new desks and chairs and a batch of sports supplies to Shengli Primary School, and provided 66,000 yuan in public welfare job funding to support low-income families[49]. - In the first half of 2024, the company purchased agricultural products worth 4.278 million yuan to support poverty alleviation efforts[49]. Shareholder Information - The total number of shares before the change was 1,152,535,254, with 59.40% being restricted shares[64]. - The largest shareholder, Shenzhen Agricultural and Food Investment Holding Group Co., Ltd., holds 63.79% of the ordinary shares, totaling 735,237,253 shares[65]. - The company has 44,597 ordinary shareholders at the end of the reporting period[65]. - The proportion of unrestricted shares is 40.60%, amounting to 467,965,687 shares[64]. Accounting Policies - The company follows the accounting standards issued by the Ministry of Finance, ensuring the financial statements reflect true and complete financial conditions[104]. - The company’s financial statements are prepared in Renminbi (CNY) as the functional currency[107]. - The company recognizes revenue based on the progress of performance obligations, confirming income when customers gain control of goods or services[154]. Research and Development - Research and development investment increased by 4.03% to CNY 9,813,271.21, reflecting the company's commitment to enhancing its self-research capabilities in food and tea processing technologies[23]. - The company’s research and development projects are categorized into research and development phases, with different accounting treatments applied to each[148].