安道麦A(000553) - 2024 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2024 was 6,613,004 thousand RMB, a decrease of 10.72% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of 943,246 thousand RMB, down 17.86% year-on-year[4] - The company reported a net loss attributable to shareholders of 1,838,112 thousand RMB for the first nine months, an increase of 76.32% year-on-year[8] - The company's Q3 2024 revenue was 929.45 million USD, a decrease of 10% year-over-year, with a 1% increase in sales volume and a 7% decrease in prices[10] - For the first nine months of 2024, revenue totaled 3.028 billion USD, down approximately 14% year-over-year, with a 3% decrease in sales volume and a 9% decrease in prices[10] - The company's operating revenue for Q3 2024 was CNY 21,523,293, a decrease of 12.8% compared to CNY 24,660,104 in Q3 2023[26] - The net loss for Q3 2024 was CNY 1,838,112, compared to a net loss of CNY 1,042,473 in the same period last year, representing an increase in loss of 76.3%[26] - The total comprehensive loss for Q3 2024 was CNY 2,067,869, compared to a loss of CNY 293,078 in Q3 2023[26] Cash Flow and Financial Position - The net cash flow from operating activities increased by 91.49% to 1,131,114 thousand RMB[4] - The cash inflow from operating activities was CNY 20,852,442 thousand, a decrease from CNY 24,801,386 thousand in the previous period, representing a decline of approximately 16.5%[27] - The net cash flow from operating activities was CNY 2,862,232 thousand, compared to CNY 525,830 thousand in the previous period, indicating a significant increase[27] - The cash outflow for purchasing goods and services was CNY 12,964,858 thousand, down from CNY 18,461,118 thousand, reflecting a decrease of about 29.5%[27] - The net cash flow from investing activities was (CNY 866,420 thousand), an improvement from (CNY 1,613,637 thousand) in the previous period[27] - The cash inflow from financing activities was CNY 1,311,257 thousand, a decrease from CNY 4,458,035 thousand, representing a decline of approximately 70.5%[27] - The net cash flow from financing activities was (CNY 2,703,059 thousand), compared to CNY 2,036,155 thousand in the previous period, indicating a negative shift[27] - The ending cash and cash equivalents balance was CNY 4,129,000 thousand, down from CNY 5,280,788 thousand, a decrease of about 21.8%[27] Assets and Liabilities - Total assets at the end of the reporting period were 51,519,496 thousand RMB, a decrease of 7.01% from the previous year[4] - The total assets as of September 30, 2024, were CNY 51,519,496, down from CNY 55,405,803 at the end of 2023, a decrease of 7.0%[25] - The total liabilities decreased to CNY 31,740,579 from CNY 33,481,328, a reduction of 5.2%[25] - Derivative financial assets decreased by 68.79% to 265.314 million RMB, primarily due to the revaluation of derivative instruments[21] - Other receivables decreased by 43.33% to 597.488 million RMB, mainly due to a reduction in receivables from asset securitization projects[21] - Derivative financial liabilities decreased by 70.86% to 177.091 million RMB, also due to the revaluation of derivative instruments[21] - Accounts payable decreased by 39.62% to 370.438 million RMB, primarily related to a decrease in procurement volume[21] - Other payables increased by 49.74% to 2.200 billion RMB, mainly due to liabilities related to asset securitization projects and increased accrued expenses[21] Research and Development - Research and development expenses for the first nine months were 319,977 thousand RMB, a decrease of 14.07% compared to the previous year[8] - R&D investment in Q3 2024 was 14.32 million USD, a decrease of 6.63% year-over-year, reflecting a focus on cost management[12] - Research and development expenses for Q3 2024 were CNY 319,977, down from CNY 372,361 in Q3 2023, a decrease of 14.0%[26] Financial Expenses - Financial expenses increased by 77.68% to 1,220,073 thousand RMB for the first nine months[8] - Total financial expenses increased by 22.87% year-over-year, reaching 635.71 million RMB, primarily due to higher interest rates[12] - The company's financial expenses increased significantly to CNY 1,220,073 from CNY 686,670, an increase of 77.6%[26] - Financial expenses for the first nine months of 2024 were 1.22 billion RMB (172 million USD), an increase from 687 million RMB (98 million USD) in the same period of 2023, reflecting a 77.5% year-over-year increase[18] - The total financial expenses net amount for the first nine months of 2024 was 1.456 billion RMB (205 million USD), down from 1.755 billion RMB (251 million USD) in the same period of 2023, representing a decrease of 17.0%[18] Market Conditions and Strategy - The company faced pressure on pricing due to low prices of major agricultural products and high inventory levels in the market[6] - The geopolitical situation in Israel has not significantly impacted the company's supply capabilities or financial performance[7] - The company continues to maintain an immediate procurement tendency in the market due to ample product supply and low raw material prices[6] - The company is focusing on launching differentiated products to counteract pricing pressures from competitors, particularly in the Latin American market[14] - The company plans to continue strict management of operating expenses, which have decreased year-over-year due to various efficiency measures[17] Tax and Shareholder Information - The company reported a significant increase in income tax expenses, up 389.29% year-over-year, amounting to 72.07 million RMB[12] - The company reported a net loss in tax expenses for the first nine months, primarily due to the low tax rates of loss-making subsidiaries compared to profitable ones[20] - The total number of common shareholders at the end of the reporting period was 39,491, with the largest shareholder, Syngenta Group Co., Ltd., holding 78.47% of the shares[22] Audit Information - The company did not undergo an audit for the third quarter report[28]