天康生物(002100) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 7,993,043,517.91, a decrease of 10.82% compared to CNY 8,963,149,801.46 in the same period last year[10]. - Net profit attributable to shareholders of the listed company reached CNY 276,682,923.94, a significant increase of 161.86% from a loss of CNY 447,288,636.14 in the previous year[10]. - The basic earnings per share improved to CNY 0.20, compared to a loss of CNY 0.33 per share in the same period last year, marking a 160.61% increase[10]. - The net cash flow from operating activities was CNY 773,337,830.28, down 50.38% from CNY 1,558,665,809.03 in the previous year[10]. - Total assets at the end of the reporting period were CNY 16,652,519,915.24, a slight decrease of 0.59% from CNY 16,751,659,614.41 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company increased by 3.14% to CNY 6,612,173,142.34 from CNY 6,410,600,615.20 at the end of the previous year[10]. - The weighted average return on net assets improved to 4.24%, up 10.03% from -5.79% in the same period last year[10]. - The company achieved total operating revenue of CNY 799,304.35 million, a decrease of 10.82% year-on-year[18]. - Operating profit increased by 165.82% year-on-year to CNY 31,734.37 million, while total profit rose by 158.93% to CNY 29,379.73 million[18]. - The company reported a total initial investment in futures contracts of 27.55 million yuan, with a fair value change of -7.9764 million yuan during the reporting period[33]. Revenue Breakdown - The company sold 134.94 million tons of feed, a year-on-year increase of 7.6%, despite a 5.63% decline in sales revenue to CNY 283,788.72 million due to falling feed prices[18]. - The company reported a 11.17% increase in sales revenue from pig farming to CNY 287,605.15 million, with a year-on-year increase of 7.00% in the number of pigs sold, totaling 1.4014 million[18]. - Sales revenue from the plant protein and oil processing business decreased by 43.17% to CNY 73,310.50 million due to fluctuating raw material prices[18]. - The corn storage business saw a 45.85% decline in sales revenue to CNY 75,728.95 million, attributed to high initial corn prices and reduced purchasing plans[18]. - The revenue from the pig breeding industry chain was approximately ¥2.88 billion, representing an increase of 11.17% compared to ¥2.59 billion in the previous year[23]. - The feed industry revenue decreased by 5.63% to approximately ¥2.84 billion from ¥3.01 billion year-on-year[23]. - The veterinary medicine sector's revenue increased by 12.04% to approximately ¥500 million, up from ¥446 million in the previous year[23]. Research and Development - Research and development investment increased by 54.79% to approximately ¥155.29 million, reflecting the company's commitment to enhancing R&D capabilities[22]. - The company has established R&D centers in Xinjiang, Shanghai, and Jiangsu, with over 400 R&D personnel and 29 national new veterinary drug certificates[22]. - The ongoing animal vaccine research and production project in Suzhou has accumulated actual investment of approximately 891 million RMB, with a completion rate of 93.38%[31]. - Research and development expenses increased to CNY 154,290,133.74, up 56.4% from CNY 98,737,400.70 in the first half of 2023, indicating a focus on innovation[93]. Environmental Compliance - The company has established a robust biosecurity management system to mitigate risks associated with African swine fever, which remains a significant threat to the livestock industry[44]. - The company has implemented various environmental protection standards, including GB 13271-2014 for particulate matter and GB 21907-2008 for wastewater[53]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[51]. - The company has established emergency response plans for environmental incidents at multiple subsidiaries, including Xinjiang Kuitun Tiankang Plant Protein Co., Ltd. and Henan Tiankang Hongzhan Food Co., Ltd.[56]. - The company emphasizes the protection of shareholder and creditor rights, ensuring compliance with contractual obligations[60]. Corporate Governance - The company has established a complete internal control system and governance structure to ensure effective management and compliance[58]. - The company has committed to maintaining its independence in operations, assets, finance, and business[62]. - The company has not experienced any major changes in project feasibility[40]. - The company has not reported any issues or other situations regarding the use and disclosure of raised funds[40]. - The company has not changed any fundraising projects during the reporting period[41]. Shareholder Information - The company did not distribute cash dividends or issue bonus shares for the first half of 2024[50]. - The company held three temporary shareholder meetings in April 2024, with participation rates of 30.04%, 30.11%, and 30.45% respectively[48]. - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd., holds 21.58% of the shares, equating to 294,580,922 shares[76]. - The total number of common shareholders at the end of the reporting period is 58,224[76]. - The report confirms that there are no related party relationships or concerted actions among the shareholders[78]. Future Outlook - The company plans to continue expanding its market presence and invest in new product development[102]. - The company is actively pursuing new strategies for market expansion and potential acquisitions to drive growth[109]. - The company plans to invest $20 million in sustainability initiatives over the next two years[195]. - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next fiscal year[196]. Financial Position - The company's total liabilities decreased from CNY 8,836,902,688.33 to CNY 8,501,486,397.07, a decrease of approximately 3.79%[89]. - The company's total equity reached CNY 7,647,320,348.45, compared to CNY 7,548,762,716.86 in the same period last year[92]. - The company's cash and cash equivalents at the end of the reporting period amounted to approximately 2.86 billion RMB, accounting for 17.19% of total assets[26]. - The company reported a total comprehensive income loss of -40,833,921.20 CNY during the current period[100]. Risk Management - The company has detailed its risks and countermeasures in the management discussion section of the report[2]. - The company has implemented strict risk control measures for its futures hedging operations, including adherence to internal control systems and risk monitoring by a dedicated risk control team[34]. - The company has not engaged in speculative derivative investments during the reporting period[35].