SMAC(SH:600073)2025-10-29 08:10Financial Performance - The company's operating revenue for the third quarter was CNY 4,784,472,990.92, a slight increase of 0.04% compared to the same period last year[4] - The total profit for the quarter was a loss of CNY 109,341,128.99, representing a decline of 189.48% year-on-year[4] - The net profit attributable to shareholders was a loss of CNY 8,021,583.45, down 106.27% from the previous year[4] - The net profit after deducting non-recurring gains and losses for the quarter was a loss of CNY 25,688,910.79, a decrease of 122.16% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 16.85 billion, an increase of 2.87% compared to CNY 16.38 billion in the same period of 2024[18] - Total operating costs for the first three quarters of 2025 were CNY 16.57 billion, up 3.19% from CNY 16.05 billion in 2024[18] - Net profit for the first three quarters of 2025 was CNY 9.05 million, a significant decrease of 97.37% compared to CNY 344.41 million in 2024[20] - The company's operating profit for the first three quarters of 2025 was CNY 155.33 million, down 68.11% from CNY 485.12 million in the same period of 2024[20] - Earnings per share for the first three quarters of 2025 were CNY 0.18, compared to CNY 0.41 in the same period of 2024[21] Cash Flow and Assets - The cash flow from operating activities for the year-to-date was CNY 957,187,837.66, an increase of 2.09%[5] - Cash inflow from operating activities for the first three quarters of 2025 was approximately ¥17.99 billion, an increase of 3.57% compared to ¥17.37 billion in the same period of 2024[22] - The total cash and cash equivalents at the end of Q3 2025 was approximately ¥3.14 billion, down from ¥3.45 billion at the end of Q3 2024[23] - The company received cash from sales of goods and services amounting to approximately ¥17.75 billion in the first three quarters of 2025, compared to ¥17.06 billion in 2024, reflecting a growth in sales[22] - Cash paid for purchasing goods and services was approximately ¥13.58 billion in 2025, an increase from ¥12.96 billion in 2024, indicating higher operational costs[22] - The cash flow from operating activities net amount was approximately ¥957.19 million in 2025, slightly up from ¥937.61 million in 2024[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,787,932,545.96, a decrease of 7.37% from the end of the previous year[5] - As of September 30, 2025, the total assets of Shanghai Guangming Meat Industry Group Co., Ltd. amounted to CNY 13,787,932,545.96, a decrease from CNY 14,885,174,768.82 as of December 31, 2024[13] - The company's current assets totaled CNY 7,624,546,434.50, down from CNY 8,768,684,733.89 in the previous period[13] - Total liabilities decreased to CNY 6.98 billion in 2025 from CNY 8.17 billion in 2024, indicating improved financial stability[18] - Total equity increased to CNY 6.81 billion in 2025 from CNY 6.71 billion in 2024, reflecting a positive trend in shareholder value[18] Profitability and Expenses - The basic earnings per share for the quarter was -CNY 0.01, a decline of 106.11% year-on-year[5] - The weighted average return on net assets was -0.16%, a decrease of 2.67 percentage points compared to the previous year[5] - Financial expenses increased significantly to CNY 95.55 million in 2025 from CNY 2.42 million in 2024, primarily due to increased interest expenses[18] - Investment income for the first three quarters of 2025 was CNY 80.58 million, up 66.06% from CNY 48.51 million in 2024[18] - Other comprehensive income after tax for the first three quarters of 2025 was CNY 38.12 million, compared to a loss of CNY 50.27 million in 2024[20] Operational Challenges - The decline in profits was primarily attributed to the poor performance of the pig farming segment and asset impairment provisions due to litigation[9] - Cash received from investment income was approximately ¥67.94 million in 2025, a decrease from ¥77.41 million in 2024[23] - The company reported a cash inflow from the disposal of fixed assets of approximately ¥2.94 million in 2025, down from ¥103.25 million in 2024[23] Shareholder and Structural Changes - The company has not reported any significant changes in its shareholder structure or related party transactions during the reporting period[12] - The company did not apply new accounting standards for the year 2025[24]