金新农(002548) - 2018 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2018 was ¥1,411,294,664.55, a decrease of 5.25% compared to ¥1,489,442,505.88 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥36,281,952.78, representing a decline of 157.18% from ¥63,452,036.37 in the previous year[18]. - The net cash flow from operating activities was -¥89,399,731.03, a significant decrease of 389.14% compared to ¥30,919,492.25 in the same period last year[18]. - The basic earnings per share were -¥0.0953, down 157.20% from ¥0.1666 in the previous year[18]. - The diluted earnings per share were -¥0.0636, a decrease of 138.18% from ¥0.1666 in the previous year[18]. - The weighted average return on net assets was -2.19%, down 5.98% from 3.79% in the previous year[18]. - The company achieved operating revenue of CNY 1,411.29 million, a year-on-year decrease of 5.25%[30]. - The net profit attributable to shareholders was CNY -36.28 million, a year-on-year decline of 157.18%[30]. - The company’s livestock output was 129,200 pigs, a decrease of 35.53% year-on-year, with a total stock of approximately 136,000 pigs at the end of the reporting period[43]. - The average price of live pigs in the first half of 2018 was CNY 12.38, a decrease of 23.51% compared to the previous year[41]. Revenue Breakdown - Feed sales volume increased by 12.73% year-on-year, while feed revenue grew by 6.25%[30]. - The animal health business saw a revenue increase of 26.57% year-on-year, contributing a net profit growth of 29.34%[31]. - The telecommunications value-added business revenue and net profit decreased by 19.74% and 17.88% respectively due to competition from mobile payment platforms[31]. - The revenue from the feed processing segment was approximately ¥1.12 billion, accounting for 79.39% of total revenue, with a year-on-year increase of 6.25%[50]. - The livestock breeding segment saw a revenue drop of 40.77% to approximately ¥186.35 million, significantly impacting overall performance[50]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,204,929,975.07, an increase of 19.68% from ¥3,513,555,595.10 at the end of the previous year[18]. - The company's total liabilities increased to CNY 2,300,776,353.27 from CNY 1,646,104,065.78 at the end of the previous year[182]. - The company's cash and cash equivalents rose to CNY 939,549,569.07 from CNY 398,750,539.22 at the beginning of the period[180]. - The company's long-term investments grew to CNY 2,549,913,505.16 from CNY 2,425,019,144.21, an increase of about 5.2%[186]. Cash Flow - The net cash flow from financing activities increased by 282.23% to approximately ¥803.12 million, primarily due to the issuance of convertible bonds[47]. - Cash inflow from operating activities totaled ¥1,403,559,217.95, slightly up from ¥1,401,684,192.02 in the previous period[198]. - Cash outflow from operating activities increased to ¥1,492,958,948.98 from ¥1,370,764,699.77, marking an increase of about 8.9%[198]. Investment and Financing - The company issued convertible bonds, improving cash flow but increasing financial expenses by 55.9%[32]. - The company issued 6.5 million convertible bonds, raising a total of CNY 650 million to support its breeding strategy projects[44]. - The total amount of funds raised by the company was CNY 639.945 million, with a net amount of CNY 639.945 million after deducting related issuance costs[71]. - The company has a significant short-term structured deposit of CNY 413,750,000.00 as part of its cash management strategy[59]. Risks and Challenges - The company faces various risks as detailed in the report, which may impact future performance[7]. - The cyclical nature of pig prices poses a risk, as significant price drops could lead to losses in the breeding segment if sales prices fall below production costs[89]. - The company faces risks from fluctuations in raw material prices, which could adversely affect operational performance if costs cannot be effectively passed on to downstream customers[88]. - The company has established a comprehensive disease prevention system to mitigate risks from animal diseases, which could impact production and sales if outbreaks occur[90]. Corporate Governance and Compliance - The company is committed to transparency in its financial reporting and compliance with regulatory requirements[81]. - The company has not reported any changes in investment projects or significant changes in project feasibility[73]. - There were no major litigation or arbitration matters during the reporting period[103]. - The company has not provided any external guarantees excluding those for subsidiaries[122]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,102[149]. - Major shareholder Xinjiang Chengnong Yuanda holds 39.61% of shares, with a reduction of 2,529,413 shares during the reporting period[149]. - The company’s shareholding structure shows that 81.85% of shares are unrestricted, while 18.15% are subject to restrictions[141]. - The company has not yet reached the conversion period for the issued convertible bonds[147].