FENGLE SEED(000713)2024-10-28 08:11Financial Performance - The company's revenue for Q3 2024 was ¥391,838,877.61, a decrease of 38.83% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥48,709,108.28, representing a decline of 107.51% year-over-year[3]. - The net profit after deducting non-recurring gains and losses was -¥50,200,385.05, down 94.13% from the previous year[3]. - Total operating revenue for Q3 2024 was CNY 1,720,484,635.61, a decrease of 10.3% compared to CNY 1,918,457,175.56 in the same period last year[15]. - Net profit for Q3 2024 was a loss of CNY 82,145,956.90, compared to a loss of CNY 30,807,953.22 in Q3 2023, indicating a significant increase in losses[16]. - The total comprehensive loss for Q3 2024 was CNY 82,145,956.90, compared to a loss of CNY 30,807,953.22 in Q3 2023, indicating a worsening financial position[17]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,371,406,832.16, an increase of 14.17% compared to the end of the previous year[3]. - The company's total liabilities reached CNY 1,416,748,757.06, compared to CNY 904,686,331.03 in the previous year, marking an increase of 56.4%[15]. - The company’s total equity attributable to shareholders decreased by 4.23% to ¥1,869,506,115.38 compared to the end of the previous year[3]. - The total equity attributable to shareholders of the parent company decreased to CNY 1,869,506,115.38 from CNY 1,952,168,486.44, a decline of 4.2%[15]. Cash Flow - The company's cash flow from operating activities was -¥113,384,481.14, a decrease of 203.97% year-over-year[7]. - The total cash inflow from operating activities for the current period is CNY 1,966,663,337.45, a decrease from CNY 1,992,303,758.66 in the previous period, reflecting a decline of approximately 1.8%[19]. - The net cash flow from operating activities is negative at CNY -113,384,481.14, compared to a positive CNY 109,057,372.85 in the previous period[19]. - The net cash flow from investment activities improved by 138.12%, reaching ¥47,484,318.67 compared to -¥124,580,078.86 in the previous year[7]. - Cash inflow from investment activities totaled CNY 802,301,620.25, down from CNY 994,151,201.44, indicating a decrease of approximately 19.3%[19]. - The net cash flow from financing activities increased to CNY 20,044,647.48 from CNY 7,004,512.55, showing a significant improvement[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 72,458[8]. - The largest shareholder, Guotou Zhongye Technology Co., Ltd., holds 20.00% of the shares, totaling 122,802,996 shares[9]. - Hefei Construction Investment Holding (Group) Co., Ltd. is the second-largest shareholder with a 9.24% stake, amounting to 56,739,906 shares[9]. - The company plans to transfer 122,802,996 shares, representing 20.00% of the total shares, to Guotou Zhongye Technology Co., Ltd.[10]. - The transfer of shares is expected to change the controlling shareholder to Guotou Zhongye, with the State Council's State-owned Assets Supervision and Administration Commission becoming the actual controller[10]. - The share transfer agreement was signed on December 6, 2023, and the transfer process is expected to be completed by April 26, 2024[11]. Operational Metrics - Research and development expenses increased by 36.32% to ¥69,694,839.40 compared to the same period last year[6]. - Sales expenses rose to CNY 102,469,624.76 from CNY 85,655,726.65, an increase of 19.6% year-over-year[16]. - The company reported an increase in accounts receivable to CNY 234,465,898.57 from CNY 228,234,577.23, which is a growth of approximately 2.9%[13]. - Inventory rose to CNY 861,841,695.05, compared to CNY 715,544,073.72, indicating an increase of about 20.4%[14]. - Short-term borrowings increased significantly to CNY 38,200,000.00 from CNY 5,003,767.12, reflecting a rise of approximately 664.1%[14]. Regulatory and Governance - The company completed the performance commitment for the year 2023 for its wholly-owned subsidiary, Jinling Seed Industry[12]. - The company revised several internal regulations, including the Articles of Association and various committee implementation rules[12]. - The company held its annual general meeting on May 30, 2024, to elect the new board of directors and supervisors[12]. - The company has received necessary approvals from regulatory bodies for the share transfer[11]. - There are no known relationships or concerted actions among the top shareholders, except for the relationship between Zhu Lihui and Zhang Anchun[9]. - The company has not engaged in any financing or securities lending activities among the top shareholders[9].