金新农(002548) - 2018 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2018 was ¥738,365,321.68, representing a decrease of 12.95% compared to ¥848,223,121.43 in the same period last year[8]. - The net profit attributable to shareholders was ¥18,642,348.02, down 46.00% from ¥34,525,387.73 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was -¥12,043,095.76, a decline of 135.97% compared to ¥33,476,949.74 in the previous year[8]. - The basic earnings per share decreased by 44.44% to ¥0.05 from ¥0.09 in the same period last year[8]. - The diluted earnings per share also fell by 44.44% to ¥0.05 from ¥0.09 year-on-year[8]. - The weighted average return on equity was 1.13%, down 0.94% from 2.07% in the previous year[8]. - Net profit for the current period was CNY 19,900,022.12, a decline of 62.7% from CNY 53,306,206.67 in the previous period[40]. - The company reported a basic earnings per share of CNY 0.05, down from CNY 0.09 in the previous period[41]. - The company reported a total profit of ¥13,564,182.10, compared to a loss of ¥317,245.99 in the same period last year[42]. Cash Flow - The net cash flow from operating activities was -¥121,464,982.75, worsening by 60.41% from -¥75,720,659.13 in the same period last year[8]. - The net cash flow from operating activities decreased by CNY 45.7443 million year-on-year, mainly due to payments for bulk raw material purchases[16]. - Cash flow from financing activities generated a net inflow of ¥759,012,126.84, compared to ¥142,556,206.45 in the previous year, indicating strong financing activity[48]. - Net cash flow from financing activities was $762,663,264.39, compared to $131,596,981.58 in the previous period[51]. - The ending balance of cash and cash equivalents was $746,798,764.18, a significant increase from $128,917,077.62 in the previous period[51]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,258,680,812.37, an increase of 21.21% from ¥3,513,555,595.10 at the end of the previous year[8]. - The total liabilities as of March 31, 2018, were approximately 2.21 billion RMB, up from 1.65 billion RMB at the beginning of the year[33]. - The total current assets as of March 31, 2018, were approximately 1.91 billion RMB, compared to 1.19 billion RMB at the beginning of the year[30]. - The company's total assets increased to CNY 3,764,054,473.73 from CNY 3,159,909,093.91, representing a growth of 19.1%[37]. - The total liabilities increased to CNY 2,028,009,313.79 from CNY 1,604,650,579.09, an increase of 26.4%[37]. Investment Activities - The company raised a total of CNY 650 million through the issuance of convertible bonds, with a net amount of CNY 639.945 million after deducting issuance costs[16]. - Investment income increased by 106.70% year-on-year, primarily due to the disposal of part of the equity in an associated enterprise, Henan Xinda Animal Husbandry Co., Ltd.[16]. - The company is collaborating with professional investment institutions to establish a food industry equity investment fund with a total scale of CNY 454.5 million[17]. - The first phase of the food industry fund is set at CNY 151.5 million, while the second phase will be CNY 303 million[17]. - The company plans to participate in a collective fund trust plan, contributing CNY 14.5 million as a limited partner in the food fund[18]. Operational Challenges - The company reported a significant decline in pig prices, which adversely affected its breeding business, leading to losses, while the feed, animal health, and small-scale billing segments showed steady growth[23]. - The company plans to maintain a focus on steady growth in its feed and animal health segments despite challenges in the breeding business[23]. - The company conducted on-site research and communication activities with institutions on March 21 and 22, 2018, to enhance investor relations[26]. Other Financial Metrics - Cash and cash equivalents increased by 141.80% compared to the beginning of the period, primarily due to the funds raised from the convertible bond issuance[16]. - Accounts receivable rose by 54.12% year-on-year, attributed to the expansion of the company's business scale and an increase in direct sales customers[16]. - Financial expenses increased by 93.76% year-on-year, mainly due to higher interest expenses from bank loans and the recognition of interest expenses related to the convertible bonds[16]. - The company received cash from borrowings amounting to ¥386,000,000.00, an increase from ¥339,500,000.00 in the previous year[48]. - The company issued bonds totaling $650,000,000.00 during the period[51].