GUANNONG SHARE(SH:600251)2020-04-28 16:00Financial Performance - Operating revenue for the reporting period was CNY 334,836,534.19, representing a decline of 64.21% year-on-year [8]. - Net profit attributable to shareholders of the listed company was CNY 35,346,224.12, down 6.64% from the previous year [8]. - Basic and diluted earnings per share were both CNY 0.0453, a decrease of 6.02% year-on-year [8]. - The company reported non-operating income of CNY 50,722,351.23, which includes various non-recurring gains and losses [9]. - The net profit attributable to the parent company was RMB 35.35 million, a decrease of RMB 2.51 million or 6.64% year-on-year, primarily due to reduced investment income from an associated company [15]. - The company reported a significant increase in fair value gains of RMB 76.60 million, a 100% increase year-on-year, attributed to gains from futures contracts [15]. - Total operating revenue for Q1 2020 was CNY 334,836,534.19, a decrease of 64.1% compared to CNY 935,604,856.84 in Q1 2019 [26]. - The net profit for Q1 2020 was CNY 19,432,001.39, compared to a net profit of CNY 30,000,817.79 in Q1 2019, indicating a decrease of about 35.1% [31]. - The total comprehensive income for Q1 2020 was CNY 19,432,001.39, down from CNY 22,791,977.85 in Q1 2019, reflecting a decline of approximately 14.8% [31]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY -6,249,728.08, a significant decrease of 101.19% compared to the same period last year [8]. - The company's cash and cash equivalents at the end of the reporting period were RMB 357.91 million, a decrease of RMB 582.81 million or 61.95% compared to the beginning of the year, primarily due to loan repayments [13]. - The cash flow from operating activities in Q1 2020 was CNY 671,003,977.34, compared to CNY 1,132,201,796.67 in Q1 2019, reflecting a decline of approximately 40.7% [31]. - Total cash inflow from operating activities was 696,516,494.66 RMB, while cash outflow was 702,766,222.74 RMB, resulting in a net cash flow deficit [32]. - The net cash flow from operating activities for Q1 2020 was -6,249,728.08 RMB, a significant decrease compared to 525,431,272.84 RMB in Q1 2019 [32]. - Cash and cash equivalents at the end of Q1 2020 were 246,166,679.80 RMB, down from 566,264,364.92 RMB at the end of Q1 2019 [34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,229,727,782.52, a decrease of 15.42% compared to the end of the previous year [8]. - The company's current assets totaled CNY 2,240,992,116.57, down from CNY 3,087,380,747.83 in the previous year [21]. - Total liabilities were reported at CNY 1,654,047,578.62, down from CNY 2,495,737,132.41 in the previous year [23]. - The company's short-term borrowings decreased significantly to CNY 619,810,000.00 from CNY 1,287,110,000.00, a reduction of about 52% [22]. - The company's total assets decreased to CNY 2,303,547,955.42 from CNY 2,388,948,006.66, reflecting a decline of 3.6% [26]. - The company's total equity rose to CNY 2,118,975,970.59, an increase of 0.7% from CNY 2,099,543,969.20 in Q1 2019 [26]. Shareholder Information - The total number of shareholders at the end of the reporting period was 46,227 [9]. - The largest shareholder, Xinjiang Guannong Group Co., Ltd., held 320,932,708 shares, accounting for 40.89% of the total shares [9]. Operational Efficiency - The company's management expenses decreased by RMB 4.94 million or 23.45% year-on-year, mainly due to reduced land use fees after changing from leasing to ownership [15]. - The company's minority shareholders' profit increased by RMB 9.86 million or 779.38% year-on-year, primarily due to increased profits from the cotton business [17]. - The company's accounts receivable stood at CNY 260,482,682.31, slightly down from CNY 286,806,185.31, a decrease of approximately 9.2% [21]. - Inventory levels decreased to CNY 1,284,740,372.15 from CNY 1,429,895,379.81, indicating a decline of about 10.2% [21]. Research and Development - Research and development expenses for Q1 2020 were CNY 123,922.21, a significant decrease of 72.0% compared to CNY 443,672.71 in Q1 2019 [28].