Financial Performance - The company's operating revenue for the first half of 2024 was CNY 57,253,634.38, a decrease of 17.32% compared to CNY 69,247,737.67 in the same period last year[13]. - The net profit attributable to shareholders was a loss of CNY 10,450,290.31, representing a decline of 72.24% from a loss of CNY 6,067,336.80 in the previous year[13]. - The gross profit margin decreased to 23.79% from 26.00% year-on-year[13]. - The company reported a basic earnings per share of -0.09, down from -0.05, reflecting an 80.00% decrease[13]. - The company reported a net loss due to a decline in sales of high-margin mixed feed additives, with overall gross margin decreasing significantly[38]. - The company reported a total of 10,000,000.00 yuan in loans for working capital, with a balance of 6,000,000.00 yuan as of the reporting date[46]. - The company reported a total comprehensive income for the first half of 2024 was -9,586,883.53 yuan, compared to -5,208,248.31 yuan in the first half of 2023, indicating a decline of about 84.5%[65]. - The total consolidated profit for the current year is -10,450,290.31, compared to -6,067,336.80 in the previous year, indicating a significant loss increase[188]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 414,826,190.03, down 2.10% from CNY 423,712,742.87 at the end of the previous year[14]. - The total liabilities increased by 1.47% to CNY 107,967,973.45 from CNY 106,404,235.98[14]. - The company's total equity attributable to shareholders decreased by 3.29% to CNY 306,858,216.58 from CNY 317,308,506.89[14]. - The total assets amounted to 414.83 million yuan, a decrease of 2.10% compared to the end of the previous year[21]. - The total liabilities increased from ¥80,140,070.27 to ¥83,411,307.78, an increase of approximately 3.4%[57]. - The total equity attributable to shareholders at the end of the current period is 315,017,636.97 CNY, a decrease of 9,586,883.53 CNY compared to the previous period[76]. Cash Flow - The company's net cash flow from operating activities was CNY 5,759,853.11, an increase of 143.48% compared to CNY 2,365,660.95 in the same period last year[16]. - The cash flow from financing activities decreased by 18.26% to CNY 2,754,238.85 from CNY 3,369,378.31 in the previous year[34]. - The net cash flow from operating activities increased to 5,759,853.11 yuan, compared to 2,365,660.95 yuan in the first half of 2023[66]. - The cash and cash equivalents at the end of the period amount to 22,757,512.26, compared to 19,800,900.30 at the beginning of the period, reflecting a net increase of 2,956,611.96[189]. Expenses - Sales expenses have decreased by 30.94% to CNY 6,852,585.24, compared to CNY 9,922,636.49 in the same period last year[25]. - The company's management expenses increased by 25.27% to CNY 12,910,864.22, primarily due to depreciation costs from new production lines[25]. - The company's financial expenses increased to CNY 1,181,712.74 in the first half of 2024 from 680,185.14 in the same period of 2023, an increase of approximately 73.6%[65]. - The total operating costs for the first half of 2024 were CNY 70,116,632.08, down from CNY 78,135,397.06 in the first half of 2023, reflecting a reduction of 10.3%[62]. Research and Development - The company has been recognized as a high-tech enterprise and a provincial-level "specialized, refined, distinctive, and innovative" enterprise[20]. - Research and development expenses for the first half of 2024 were CNY 4,480,393.69, down from CNY 5,210,733.62 in the same period of 2023, a decrease of 14.0%[62]. - The company plans to enhance the sales and promotion of feed additives, aiming to improve profitability and optimize the existing sales team[39]. Market Conditions - The overall production of industrial feed in China decreased by 4.1% year-on-year in the first half of 2024[22]. - User data indicates a significant decline in pig inventory due to the African swine fever and market conditions, leading to reduced feed sales[32]. - The company is facing risks from major animal epidemics and natural disasters, which could impact the demand for feed and additives[40]. Shareholder Information - The actual controllers of the company hold 49.94% of the shares, which may influence major decisions and potentially affect minority shareholders' interests[43]. - The largest shareholder, Yan Heping, holds 53,246,000 shares, representing 47.81% of the total shares[50]. - The total number of shares held by the top ten shareholders is 81,209,600, accounting for 72.92% of the total shares[50]. Governance and Compliance - The company has established a governance structure to ensure decision-making processes are transparent and protect the interests of minority shareholders[43]. - There have been no significant changes in major risks during the reporting period[43]. - The company confirmed its ability to continue operations for at least 12 months from the reporting date, with no significant issues affecting its ongoing viability[85]. Credit and Risk Management - The company manages credit risk through policies that assess customer creditworthiness based on financial status and market conditions, ensuring overall credit risk remains controllable[197]. - The company has established measures to control credit risk exposure related to accounts receivable and other receivables[197]. - The company does not perceive significant credit risk from its bank deposits, which are primarily held in state-owned and large listed banks[196].
大禹生物(871970) - 2024 Q2 - 季度财报