苏垦农发(601952) - 2025 Q2 - 季度业绩

Key Financial Data and Indicators The company's H1 2025 performance declined significantly, with total operating revenue down 9.26% and net profit down 27.72% Key Financial Data and Indicators | Item | Current Period (CNY Million) | Prior Period (CNY Million) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,588.18 | 5,056.55 | -9.26 | | Operating Profit | 232.18 | 328.95 | -29.42 | | Net Profit Attributable to Parent Company Shareholders | 213.19 | 294.95 | -27.72 | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 175.46 | 255.77 | -31.40 | | Basic Earnings Per Share (CNY) | 0.15 | 0.21 | -28.57 | | Total Assets (End of Period, CNY Million) | 14,634.14 | 14,415.33 (Beginning of Period) | 1.52 | - The company's weighted average return on net assets decreased from 4.40% in the prior period to 3.08%, a reduction of 1.32 percentage points, reflecting a decrease in shareholder returns[3] Key Product Production and Sales Volumes H1 2025 product performance diverged, with strong wheat and barley sales contrasting with declines in processed products Key Product Production and Sales Volumes | Key Product | Production Volume (10,000 Tons) | Sales Volume (10,000 Tons) | Sales Volume YOY Change (%) | | :--- | :--- | :--- | :--- | | Self-produced Wheat and Barley | 63.83 | 18.27 | 77.78% | | Externally Sourced Wheat and Barley | N/A | 20.71 | 124.69% | | Rice Seeds | 8.37 | 8.22 | -19.13% | | Rice | 13.01 | 13.86 | -17.87% | | Edible Oil | 6.57 | 10.70 | -17.53% | - Despite significant increases in wheat and barley sales, production and sales of several core products such as rice seeds, rice, and edible oil experienced double-digit declines, indicating structural product risks[5] - The company's inventory levels for various products, such as rice seeds, rice, and malt, significantly decreased year-on-year by 85.08%, 43.78%, and 65.54% respectively, potentially reflecting the company's destocking strategy or changes in downstream demand[5] Explanation of Operating Performance and Financial Condition H1 performance decline is attributed to unfavorable external market conditions, with low agricultural product prices and declining agricultural material costs compressing margins - The company explicitly stated the main reasons for the performance decline: low-level fluctuations in agricultural product prices and a general downward trend in agricultural material prices, leading to a narrowing of gross profit margins for major products (such as rice and wheat)[6] Key Financial Indicators Decrease | Indicator | YOY Decrease Amount (CNY Million) | YOY Decrease (%) | | :--- | :--- | :--- | | Consolidated Operating Revenue | 468.00 | 9.26% | | Net Profit Attributable to Parent Company Shareholders | 81.76 | 27.72% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 80.32 | 31.40% | Risk Warning This express report contains preliminary, unaudited financial data, which may differ from the final semi-annual report - The data in this performance express report are preliminary calculations and have not been audited by an accounting firm; the final data will be subject to the company's 2025 semi-annual report[1][7] - The company judges that there are no significant uncertainties affecting the accuracy of this performance express report[7]