Financial Performance - Operating revenue for Q1 2025 was CNY 24,298,661.55, down 29.11% from CNY 34,275,554.02 in the same period last year[11] - Net profit attributable to shareholders was a loss of CNY 887,474.06, representing a decline of 108.72% compared to a profit of CNY 10,180,355.88 in Q1 2024[11] - The net profit for Q1 2025 was a loss of CNY 887,474.06, compared to a profit of CNY 11,492,136.80 in Q1 2024, marking a significant decline[39] - Operating profit for Q1 2025 was a loss of CNY 1,037,240.63, compared to a profit of CNY 4,523,864.65 in Q1 2024[39] - Total revenue for Q1 2025 was CNY 24,298,661.55, a decrease from CNY 34,275,554.02 in Q1 2024, representing a decline of approximately 29%[38] - Total operating costs for Q1 2025 were CNY 26,827,981.58, down from CNY 33,383,479.58 in Q1 2024, indicating a reduction of about 20%[38] - The basic earnings per share for Q1 2025 was -CNY 0.01, down from CNY 0.16 in Q1 2024[40] - Other income for Q1 2025 was CNY 2,139,574.75, compared to CNY 4,128,836.83 in Q1 2024, indicating a decrease of approximately 48%[38] Cash Flow - The net cash flow from operating activities was negative CNY 119,912,281.22, a decrease of 728.33% from negative CNY 14,476,421.59 in the previous year[11] - Cash flow from operating activities in Q1 2025 was a net outflow of CNY 119,912,281.22, compared to a net outflow of CNY 14,476,421.59 in Q1 2024[44] - The total cash inflow from investment activities in Q1 2025 was CNY 101,708.31, while cash outflow was CNY 11,305,006.37, resulting in a net cash outflow of CNY 11,203,298.06[45] - The company experienced a significant cash flow deficit in operating and investing activities, impacting overall financial health[47] - The net increase in cash and cash equivalents was -$90.48 million, contrasting with a positive increase of $106.88 million in the prior period[47] - The ending balance of cash and cash equivalents stood at $109.81 million, down from $187.74 million, reflecting liquidity challenges[47] Assets and Liabilities - Total assets decreased by 5.06% to CNY 861,434,797.75 compared to the end of the previous year[11] - Total current assets decreased to CNY 689,000,025.75 as of March 31, 2025, from CNY 733,256,649.92 on December 31, 2024, representing a decline of approximately 6.0%[31] - Total liabilities decreased to CNY 374,837,661.66 as of March 31, 2025, from CNY 419,856,665.06 on December 31, 2024, representing a decline of approximately 10.7%[33] - Total equity remained relatively stable at CNY 486,597,136.09 as of March 31, 2025, compared to CNY 487,484,610.15 on December 31, 2024, showing a minor decrease of about 0.2%[33] - The company reported a total of CNY 62,129,162.43 in accounts payable as of March 31, 2025, down from CNY 109,401,447.69 on December 31, 2024, indicating a decrease of about 43.1%[32] Inventory and Accounts Receivable - Inventory increased by 46.46% to CNY 271,946,776.95 due to the 2024 seed production storage[12] - Accounts receivable increased to CNY 201,150,013.71 as of March 31, 2025, compared to CNY 190,675,724.90 on December 31, 2024, reflecting an increase of about 5.0%[31] - Inventory rose significantly to CNY 271,946,776.95 as of March 31, 2025, up from CNY 185,685,549.05 on December 31, 2024, indicating a growth of approximately 46.4%[31] Shareholder Information - The total number of ordinary shareholders was 3,504 as of the report date[18] - The largest shareholder, Fang Yanli, holds 36,595,000 shares, representing 51.56% of the total shares[19] - The total shares held by the top ten shareholders amount to 47,395,783, which is 66.78% of the total shares[20] Legal and Commitments - The company has ongoing litigation with a total amount of 2,912,200, accounting for 0.60% of the net assets[24] - All disclosed commitments are being fulfilled normally as of the report date[26] Related Party Transactions - The company’s related party transactions with Ningxia Kangnong are expected to include approximately 15.5 million for 2024 seed procurement[25]
康农种业(837403) - 2025 Q1 - 季度财报