荃银高科(300087) - 2017 Q3 - 季度财报

Financial Performance - Operating revenue decreased by 22.63% to CNY 73,199,488.58 year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 19,120,288.23, a decrease of 696.81% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 20,848,558.09, a decrease of 6,932.71% year-on-year[7] - The weighted average return on net assets was -2.89%, a decrease of 2.50% compared to the previous year[7] - Net loss for the period was CNY 31,648,026.74, significantly higher than the net loss of CNY 5,716,482.53 in the previous year[55] - The net profit for the current period was a loss of CNY 37,890,505.27, compared to a loss of CNY 12,825,475.74 in the previous period, indicating a significant decline in profitability[63] - The company reported a comprehensive income total of -37,846,036.25, compared to -12,804,257.73 in the previous period, reflecting a significant decline[64] Assets and Liabilities - Total assets increased by 8.88% to CNY 1,557,425,270.07 compared to the end of the previous year[7] - The company's total assets increased to CNY 854,470,903.90 from CNY 730,122,556.12 at the beginning of the period[52] - Current assets rose to CNY 483,112,235.07, up from CNY 366,149,308.05 at the start of the period[50] - The total liabilities increased to CNY 264,664,820.21 from CNY 172,816,150.63[52] - Total liabilities decreased by 50,000,000.00 yuan, a reduction of 100%, due to the repayment of a special fund by a subsidiary[21] - The total liabilities of the company were reported at RMB 732,876,844.85, compared to RMB 555,505,733.76 at the beginning of the year, showing an increase of approximately 31.9%[48] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 127,387,011.62, an increase of 10.73%[7] - Operating cash flow for the period was CNY 127,387,011.62, an increase of 10.3% compared to CNY 115,040,573.88 in the previous period[70] - Total cash inflow from operating activities was CNY 619,674,455.44, up from CNY 479,223,402.74, representing a growth of 29.3%[70] - Cash outflow from operating activities totaled CNY 492,287,443.82, compared to CNY 364,182,828.86, indicating an increase of 35.2%[70] - Cash inflow from investment activities reached CNY 287,722,433.76, significantly higher than CNY 74,941,552.06, marking an increase of 284.5%[71] - Cash outflow from investment activities was CNY 344,831,605.03, compared to CNY 125,670,897.11, reflecting an increase of 174.5%[71] - Net cash flow from financing activities was CNY -52,573,130.39, a decline from CNY 68,356,428.98 in the previous period[71] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,922[11] - As of the report date, the combined shareholding of Da Bei Nong and its affiliate in the company reached 12.40%, totaling 52,362,771 shares[30] - The company reported a total cash dividend distribution of RMB 31,982,000, equivalent to RMB 1 per 10 shares, based on a total share capital of 319,820,000 shares as of December 31, 2016[38] - The profit distribution plan for 2016 was adjusted to a total share capital of 325,762,000 shares, with a cash dividend of RMB 0.981759 per 10 shares and a capital reserve increase of 2.945279 shares for every 10 shares held[39] Operational Challenges - The company faced a decline in sales of late rice varieties due to weather impacts and changes in planting structure[7] - Increased marketing expenses were incurred to promote market expansion, leading to higher upfront promotional costs[7] - Sales expenses increased to CNY 69,909,456.06 from CNY 56,325,984.56, an increase of 24.2%[61] - Management expenses rose to CNY 75,860,093.68 from CNY 69,645,576.92, an increase of 8.5%[61] Investments and Collaborations - Research and development investment in rice and corn varieties has been increased[7] - The company and Beijing Jinse Nonghua Seed Technology Co., Ltd. jointly established Anhui QuanHua Seed Technology Co., Ltd. with a registered capital of RMB 30 million, where the company holds a 51% stake[32] - The company’s subsidiary, Zhonghe Hengfeng, received a cash investment of RMB 50 million from Chuzhou Urban Development Company for the China Supply and Marketing - Chuzhou Agricultural Products Wholesale Market project[33] - The company provided a guarantee of RMB 23 million for its subsidiary Anhui Wan Agricultural Technology Co., Ltd. for a bank loan, with a guarantee period of one year[35] Legal Matters - The company filed a civil lawsuit against Chongqing Zhongxin Rongze Investment Center and its affiliates for illegal shareholding actions, with the case transferred to the Anhui High Court[26] - As of the report date, the company had provided financial assistance of RMB 20 million to its subsidiary, which has since been overdue, with total repayments of principal and interest amounting to RMB 20 million[29]