道道全(002852) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,573,935,637.36, representing a 12.05% increase compared to CNY 1,404,655,123.26 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 147,859,394.06, a significant increase of 56.38% from CNY 94,550,793.24 in the previous year[18]. - The basic earnings per share increased by 37.84% to CNY 0.51, compared to CNY 0.37 in the same period last year[18]. - The total profit reached CNY 193,576,000, reflecting a significant growth of 61.23% compared to the previous year[27]. - The net profit after deducting non-recurring gains and losses was CNY 73,007,908.75, showing a marginal increase of 0.99% compared to CNY 72,290,428.74 in the same period last year[18]. Cash Flow and Assets - The net cash flow from operating activities improved by 26.34%, amounting to CNY -346,816,917.24, compared to CNY -470,824,378.00 in the previous year[18]. - Total assets decreased by 8.14% to CNY 2,429,870,464.01 from CNY 2,645,117,721.40 at the end of the previous year[18]. - The cash and cash equivalents decreased by CNY 72,151,476.12, a decline of 198.95% compared to an increase of CNY 72,916,495.77 in the previous period[40]. - The company reported a significant reduction in tax expenses, which increased by 79.18% to CNY 45,716,608.63, primarily due to an increase in total profit[40]. Market Strategy and Operations - The company’s market strategy focuses on deepening its presence in Central China while expanding into Southwest, East, Northwest, North, and South China markets[34]. - The company plans to enhance its processing capabilities in the Southwest region with a new project expected to be completed by August 2019, with a total investment of CNY 12,722,000[34]. - The company has established a product traceability system to ensure quality control throughout the production process[35]. - The company has 584 regional distributors, providing over 300,000 sales points directly to consumers[30]. Product and Revenue Segments - The revenue from the food processing segment was CNY 1,573,134,092.05, accounting for 99.95% of total operating revenue, with a year-on-year growth of 11.99%[40]. - The sales revenue of the meal products increased by 2,681.20% year-on-year, primarily due to the launch of the "Yueyang Port New District Edible Oil Processing Comprehensive Project" which began operations in June 2017[42]. - The gross profit margin for the food processing segment was 14.43%, reflecting an increase of 1.65% year-on-year[41]. Financial Management and Investments - The financial expenses decreased by 60.81% to CNY -895,131.54, mainly due to a reduction in the average daily balance of bank deposits[40]. - The investment income was CNY 17,191,686.67, contributing 8.88% to the total profit, but showed a decrease of 30.01% compared to the previous period[44]. - The company has committed to strict adherence to its promises regarding shareholding and capital management, ensuring compliance with regulations[78]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this period[5]. - The total number of shares increased from 170,000,000 to 289,000,000 due to a capital increase and dividend distribution[107][108]. - The total number of common shareholders at the end of the reporting period was 23,613[115]. Risk Factors and Challenges - The fluctuation in raw material prices poses a risk, as over 60% of the raw materials are imported, which can significantly impact profitability[73]. - The company faces intensified market competition, particularly from larger players like Yihai Kerry and COFCO, which may affect brand promotion and market share[73]. - The reliance on international markets for raw materials means that changes in industry policies could impact the company's profitability[73]. Compliance and Governance - The company did not undergo any bankruptcy reorganization during the reporting period[85]. - There were no significant litigation or arbitration matters during the reporting period[86]. - The company has committed to adhering to various environmental protection laws in its future operations[99]. Accounting Policies and Financial Reporting - The company’s financial statements are prepared based on the assumption of going concern, indicating no significant issues affecting its ability to continue operations for at least 12 months from the reporting date[170]. - The company adheres to the latest accounting standards issued by the Ministry of Finance, ensuring that its financial statements reflect a true and complete picture of its financial status and operating results[172]. - The company uses aging analysis method for bad debt provision with specific percentages: 5.00% for accounts receivable within 1 year, 10.00% for 1-2 years, 20.00% for 2-3 years, 50.00% for 3-4 years, 60.00% for 4-5 years, and 100.00% for over 5 years[195].