京基智农(000048) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was approximately ¥5.96 billion, a decrease of 52% compared to ¥12.42 billion in 2023[18]. - The net profit attributable to shareholders for 2024 was approximately ¥713.80 million, down 59.13% from ¥1.75 billion in 2023[18]. - The basic earnings per share for 2024 decreased to ¥1.3770, down 58.74% from ¥3.3375 in 2023[18]. - The total assets at the end of 2024 were approximately ¥10.95 billion, a decline of 9.71% from ¥12.13 billion at the end of 2023[18]. - The net assets attributable to shareholders increased by 11.40% to approximately ¥4.29 billion at the end of 2024, compared to ¥3.85 billion at the end of 2023[18]. - Total revenue for 2024 was ¥5,960,479,688.87, a decrease of 52.00% compared to ¥12,417,006,232.40 in 2023[69]. - The feed production segment generated ¥708,330,350.87, down 23.30% year-over-year, while the breeding industry saw an increase of 37.74% to ¥3,977,131,009.16[69]. - Real estate development revenue plummeted by 85.63% to ¥1,233,605,207.60, accounting for 20.70% of total revenue[69]. - The gross profit margin for the breeding industry improved by 25.43% to 23.57%, while the real estate sector's margin decreased by 5.33% to 49.84%[71]. - Total operating costs fell by 43.63% to ¥4,288,975,054.21, with feed production costs decreasing by 23.99%[74]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to approximately ¥997.45 million, a 340.55% increase from a negative cash flow of ¥414.65 million in 2023[18]. - Operating cash inflow decreased by 9.42% to ¥6,001,209,976.43 in 2024 from ¥6,625,366,273.44 in 2023[85]. - Investment cash outflow decreased by 68.39% to ¥308,754,841.80 in 2024 from ¥976,802,177.49 in 2023[85]. - The company reported a net increase in cash and cash equivalents of -¥252,517,930.51 in 2024, an improvement of 76.50% from -¥1,074,444,681.57 in 2023[85]. Business Segments and Operations - The company achieved a total revenue of 5.96 billion yuan, with the pig farming business contributing 3.90 billion yuan, accounting for 65.45% of total revenue[44]. - The company operates approximately 116,000 breeding sows, including about 103,000 foundation sows and 13,000 replacement sows[45]. - The feed business generated revenue of 711.57 million yuan, with a net profit of 22.36 million yuan despite a competitive market[46]. - The poultry farming business reported revenue of 69.39 million yuan, reflecting a year-on-year growth of 6.42% due to decreased feed prices[47]. - The company is engaged in multiple business segments, including pig farming and sales, feed production and sales, and real estate development[38]. Research and Development - The company completed several R&D projects aimed at improving feed efficiency and animal health, including studies on corn powder and phospholipids[82]. - The number of R&D personnel increased to 64 in 2024, up 6.67% from 60 in 2023[83]. - R&D expenditure amounted to ¥52,108,945.63 in 2024, representing a 20.89% increase from ¥43,106,107.71 in 2023[83]. - The company aims to enhance its product nutritional research capabilities and gradually reduce costs through various R&D initiatives[82]. Strategic Initiatives and Future Plans - The company has expanded its business scope to include agricultural technology research and development, indicating a strategic shift towards innovation[17]. - The company plans to enhance breeding efficiency and optimize nutrition plans to maintain precise operations and reduce costs in its breeding business[105]. - The company aims to strengthen its position in the aquaculture feed sector by emphasizing health, efficiency, and safety, while also reducing production costs through centralized procurement[105]. - The company will continue to focus on selling its real estate projects, particularly the Shanhai Pavilion apartment project, to ensure cash flow[106]. Risk Management - The company has acknowledged risks related to raw material prices and fluctuations in pig prices, which may impact future performance[5]. - The company is addressing the cyclical nature of pig prices by improving production management and maintaining a robust operating philosophy[109]. - The company is enhancing its biosecurity measures to mitigate risks associated with pig diseases, including establishing a dedicated prevention and control leadership team[111]. - The company has implemented a risk warning mechanism to minimize losses from natural disasters affecting its pig farming operations[113]. Corporate Governance - The company has maintained compliance with corporate governance regulations, holding multiple board and shareholder meetings throughout the reporting period[119]. - The company has ensured independence from its controlling shareholders in terms of assets, personnel, and operations[121]. - The company operates independent production and office facilities, with functional departments that operate independently without mixed operations with controlling shareholders[125]. - The company has addressed competition issues with its controlling shareholder, 京基集团有限公司, by implementing measures to avoid conflicts in the real estate development sector, which has largely mitigated adverse effects[127]. Social Responsibility - The company invested approximately 3.38 million yuan in social responsibility initiatives, focusing on education, infrastructure, and elderly care[179]. - The company donated a total of 1.29 million yuan for rural infrastructure projects, including 60 solar street lights and cultural building construction[182]. - The company contributed 900,000 yuan to the "Xiangjiang Love Library Project" to improve reading resources for rural children[180]. - The company provided 80,000 yuan in support for the "Guangdong Poverty Alleviation Day" to enhance rural living conditions[181].