登海种业(002041) - 2018 Q1 - 季度财报

Financial Performance - Revenue for Q1 2018 was CNY 139,365,819.83, a decrease of 31.34% compared to CNY 202,972,337.35 in the same period last year[8] - Net profit attributable to shareholders was CNY 19,488,633.26, down 56.84% from CNY 45,150,069.07 year-on-year[8] - Net profit excluding non-recurring items was CNY 17,091,757.76, a decline of 60.62% compared to CNY 43,402,254.45 in the previous year[8] - Basic earnings per share decreased to CNY 0.0221, down 56.92% from CNY 0.0513 year-on-year[8] - Operating revenue, net profit, and net profit attributable to the parent company decreased by 31.34%, 76.76%, and 56.84% respectively, mainly due to inventory destocking and low prices in the corn market[15] Cash Flow - The net cash flow from operating activities was CNY -173,019,709.95, worsening by 24.99% from CNY -138,424,250.78 in the same period last year[8] - Net cash outflow from operating activities increased by ¥34,595,459.17 compared to the same period last year, primarily due to payments for foreign variety rights licensing fees[16] - Net cash inflow from investing activities increased by ¥455,739,009.22 compared to the same period last year, mainly due to an increase in net redemption of financial products[16] - Net cash outflow from financing activities increased by ¥448,080,000.00 compared to the same period last year, primarily due to dividend payments made by subsidiaries[16] Assets and Shareholder Equity - Total assets at the end of the reporting period were CNY 3,805,763,494.14, a decrease of 14.40% from CNY 4,445,988,733.36 at the end of the previous year[8] - Net assets attributable to shareholders increased slightly by 0.69% to CNY 2,824,846,775.80 from CNY 2,805,358,142.54 at the end of the previous year[8] - The weighted average return on equity was 0.69%, down from 1.67% in the previous year, a decrease of 0.98%[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,530, with the largest shareholder holding 53.19% of the shares[11] Inventory and Receivables - Accounts receivable increased by 34.91% compared to the beginning of the period, mainly due to increased credit support for reputable distributors within the rebate limit[15] - Other non-current assets grew by 57.99% compared to the beginning of the period, primarily due to long-term assets that have not yet been settled[15] Market Challenges - The company is facing intense price competition and market challenges due to high inventory levels and counterfeit products affecting performance[20] - The company completed the acquisition of 55% of Zaozhuang Denghai Detai Seed Industry Co., Ltd., enhancing its market position[18] Future Outlook - The company expects net profit attributable to shareholders for the first half of 2018 to range from ¥24,273,400 to ¥84,957,000, representing a decrease of 30% to 80% compared to the same period last year[20] - The company reported a non-recurring gain of CNY 2,396,875.50 during the period, primarily from government subsidies and other income[9] - Financial expenses decreased by 39.70% compared to the same period last year, mainly due to exchange gains from paying foreign variety rights licensing fees[15]