金新农(002548) - 2018 Q3 - 季度财报

Financial Performance - Operating revenue decreased by 19.94% to CNY 743,751,786.29 for the current period, and by 10.89% to CNY 2,155,046,450.84 year-to-date[8] - Net profit attributable to shareholders was a loss of CNY 18,425,383.10, down 165.48% year-on-year, with a year-to-date loss of CNY 54,707,335.88, down 159.73%[8] - Basic earnings per share were -CNY 0.0488, down 169.71% year-on-year, while diluted earnings per share were -CNY 0.0266, down 138.00%[8] - The weighted average return on net assets was -0.98%, a decrease of 2.66% compared to the previous year[8] - The estimated net profit attributable to shareholders for 2018 is projected to be between 2,000,000 CNY and 4,000,000 CNY, representing a decrease of 40.88% to 70.44% compared to 2017's net profit of 6,765,780 CNY[24] Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 51,866,952.05, representing a decrease of 170.72% compared to the same period last year[8] - The company's cash and cash equivalents increased by 91.26% compared to the beginning of the period, primarily due to funds raised from the issuance of convertible bonds and increased bank loans[17] - The net cash flow from operating activities decreased by 235.49% compared to the same period last year, primarily due to a 12.11% decrease in cash received from sales of goods and services[18] - Accounts receivable increased by 66.95% compared to the beginning of the period, mainly due to an increase in receivables from direct sales customers[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,111[12] - The largest shareholder, Xinjiang Chengnong Yuanda Equity Investment Partnership, held 40.19% of shares, totaling 148,356,576 shares[12] - The company repurchased a total of 11,387,132 shares, accounting for 2.99% of the total share capital, with a total payment of approximately 90.78 million yuan[19] Debt and Financial Obligations - The company's short-term borrowings increased by 53.25% compared to the beginning of the period, mainly to supplement working capital[17] - The company's financial expenses increased by 48.89% compared to the same period last year, primarily due to interest expenses from the issuance of convertible bonds[18] Investments and Future Plans - The company plans to dispose of certain equity assets in Q4 2018 to recover some investment returns[24] - The company is implementing a sales system partnership plan to stimulate the sales team and is expected to see steady growth in feed and animal health businesses[24] - The company is actively pursuing cost reduction and efficiency improvement measures in its breeding business, with expectations of a recovery in pig prices in Q4 2018[24] - The company reported a total investment of 3,407,620 CNY in futures, with a loss of 4,282,318.96 CNY recorded during the reporting period[26] - The company has entrusted 45,000,000 CNY in bank financial products, with an outstanding balance of 23,500,000 CNY[30] Non-Operating Income and Losses - Non-operating income included government subsidies of CNY 6,648,139.92, primarily related to received government support[9] - The company reported a significant increase in non-recurring losses, with a total of CNY 25,779,099.81 from various non-operating activities[10] Changes in Assets - The company's construction in progress increased by 194.29% compared to the beginning of the period, mainly due to accelerated progress in a subsidiary's project[17] - The company's deferred tax assets increased by 79.75% compared to the beginning of the period, mainly due to the recognition of deferred tax assets from losses in a controlling subsidiary[17] - The company's prepaid accounts increased by 55.19% compared to the beginning of the period, mainly due to an increase in prepaid raw material payments[17] Convertible Bonds - The company issued 650 million yuan of convertible bonds, which began trading on April 2, 2018, with a current conversion price of 9.62 yuan per share[20] - The initial conversion price of the company's convertible bonds was adjusted from 9.72 CNY/share to 9.62 CNY/share effective from May 28, 2018[21] - As of September 30, 2018, the remaining balance of convertible bonds was 649,924,500 CNY, with a conversion amount of 7,792 shares during Q3 2018[21]