NWF(SH:600975)2024-10-28 09:35Financial Performance - The company's operating revenue for Q3 2024 reached ¥2,037,892,002.62, representing a year-on-year increase of 49.94% due to higher pig sales and prices [2]. - The net profit attributable to shareholders for the period was ¥248,194,933.24, with a basic earnings per share of ¥0.20 [3]. - The company reported a year-to-date operating revenue increase of 36.05%, attributed to growth in pig sales and rising prices [5]. - Total operating revenue for the first three quarters of 2024 reached ¥5,270,785,067.08, a significant increase of 36% compared to ¥3,874,066,662.00 in the same period of 2023 [16]. - The company's net loss for the first three quarters of 2024 was approximately ¥1,010,764,995.77, slightly improved from a loss of ¥1,011,993,913.01 in the same period of 2023 [15]. - The net profit for Q3 2024 was ¥15,498,626.26, a significant improvement compared to a net loss of ¥790,576,285.75 in the same period last year [17]. - Operating profit for Q3 2024 was ¥33,773,167.07, recovering from a loss of ¥770,664,122.56 in Q3 2023 [17]. - The total comprehensive income for Q3 2024 was ¥15,498,626.26, compared to a comprehensive loss of ¥790,576,285.75 in Q3 2023 [18]. - The basic and diluted earnings per share for Q3 2024 were both reported as ¥0.00, compared to a loss of ¥0.66 per share in the same period last year [18]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥12,422,381,489.68, a decrease of 1.85% compared to the end of the previous year [3]. - The total assets of the company as of September 30, 2024, were ¥12,422,381,489.68, down from ¥12,656,515,812.40 at the end of 2023, indicating a decrease of approximately 1.8% [15]. - Total liabilities decreased to ¥9,233,889,292.64 from ¥9,490,846,704.61, a decline of about 2.7% [15]. - The total current assets increased to CNY 2,841,081,461.08 as of September 30, 2024, from CNY 2,550,641,292.42 at the end of 2023, reflecting a growth of approximately 11.4% [23]. - The total liabilities of Hunan New Wufeng Co., Ltd. as of September 30, 2024, were CNY 6,018,379,377.93, compared to CNY 5,808,220,839.50 at the end of 2023, indicating an increase of about 3.6% [25]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥855,320,385.38 [3]. - Cash flow from operating activities for the first three quarters of 2024 was ¥855,320,385.38, compared to a negative cash flow of ¥528,466,818.69 in the same period last year [21]. - The company's cash and cash equivalents decreased to ¥1,449,508,346.95 from ¥1,500,060,097.09, a decline of about 3.4% [13]. - The company's cash and cash equivalents at the end of Q3 2024 stood at 464,252,736.92 RMB, compared to 195,108,692.24 RMB at the end of Q3 2023 [30]. - The company reported a net increase in cash and cash equivalents of 223,233,782.87 RMB for the period, compared to 34,291,306.38 RMB in the same period last year [30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 76,534 [6]. - The largest shareholder, Hunan Modern Agricultural Industry Holding Group Co., Ltd., held 19.32% of the shares [6]. - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., held 195,754,936 shares, representing 15.52% of total shares [10]. Investments and Subsidies - The company reported a total investment of CNY 173 million for various projects, with CNY 98.34 million utilized by September 30, 2024 [12]. - The company received a government subsidy of CNY 110 million, which will be recognized as regular income in the financial statements [11]. - The company’s fundraising for specific projects totaled CNY 152.76 million, with significant allocations for the construction of new facilities [12]. - The company’s subsidiary, Hunan Tianxin Seed Industry Co., Ltd., received a subsidy notification from the provincial agricultural department [11]. Operational Strategies - The company is focusing on strengthening its operational strategies and expanding its market presence through new product development and facility construction [12]. - The company has completed the construction of a new feed factory with an annual capacity of 240,000 tons, contributing to its market expansion strategy [12]. - The company plans to enhance its fundraising management and improve the approval processes for fund usage [12]. Research and Development - Research and development expenses for the first three quarters of 2024 were ¥13,991,868.68, down from ¥24,126,554.22 in 2023, a decrease of about 42% [16]. - Research and development expenses for the first three quarters of 2024 were CNY 4,734,490.27, significantly lower than CNY 16,816,053.10 in the same period of 2023, indicating a decrease of about 71.9% [27]. Other Financial Metrics - Non-recurring gains and losses for the period totaled ¥3,975,999.07, with government subsidies contributing ¥5,011,308.71 [4]. - The company had a weighted average return on net assets of 8.65% for the reporting period [3]. - The company's stock lending activities showed a decrease in borrowed shares from 10.7 million to 0 by the end of the reporting period [10]. - The company incurred asset impairment losses of ¥114,447,168.35 in Q3 2024, reflecting ongoing challenges in asset management [17].