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三元股份(600429) - 2022 Q3 - 季度财报
SANYUANSANYUAN(SH:600429)2022-10-28 16:00

Financial Performance - The company's operating revenue for Q3 2022 was CNY 2,040,141,873.70, a decrease of 7.18% compared to CNY 1,930,534,498.59 in the same period last year[6]. - Net profit attributable to shareholders for Q3 2022 was CNY 14,850,618.37, down 82.15% from CNY 66,122,355.22 year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 17,940,296.50, a decrease of 79.62% compared to CNY 61,370,957.88 in the previous year[6]. - Basic earnings per share for Q3 2022 was CNY 0.0098, down 82.37% from CNY 0.0442 in the previous year[6]. - The weighted average return on equity decreased to 0.4792%, down 1.65 percentage points from 1.2956% year-on-year[6]. - Total operating revenue for the first three quarters of 2022 was CNY 6,301,929,277.51, a decrease of 6.8% compared to CNY 6,762,806,117.58 in the same period of 2021[47]. - Net profit for Q3 2022 was CNY 92,056,429.82, a decline of 70.7% from CNY 314,698,297.80 in Q3 2021[54]. - Earnings per share for Q3 2022 was CNY 0.0710, compared to CNY 0.1827 in Q3 2021, reflecting a decrease of 61.1%[56]. - The company's total liabilities decreased to CNY 7,546,387,080.72 in 2022 from CNY 9,773,693,105.41 in 2021, a reduction of 22.6%[47]. - The total equity attributable to shareholders decreased to CNY 4,972,375,845.68 in 2022 from CNY 5,673,294,865.97 in 2021, a decline of 12.3%[47]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was CNY 45,497,099.16, a decline of 90.14% from CNY 128,888,241.14 in the same period last year[6]. - The company's cash and cash equivalents decreased to CNY 999.55 million from CNY 1.62 billion, a decline of approximately 38.4% year-over-year[42]. - The cash inflow from operating activities for the first three quarters of 2022 was approximately ¥6.83 billion, a decrease of 8.3% compared to ¥7.44 billion in the same period of 2021[58]. - The net cash flow from operating activities was ¥45.50 million, significantly down from ¥461.64 million in the previous year, indicating a decline of 90.2%[62]. - The ending balance of cash and cash equivalents was ¥999.55 million, down from ¥1.62 billion at the end of the previous year[62]. - As of September 30, 2022, the company's total current assets amounted to CNY 4.50 billion, an increase from CNY 3.97 billion as of December 31, 2021, representing a growth of approximately 13.2%[42]. - Accounts receivable increased to CNY 976.25 million, up from CNY 885.44 million, reflecting a growth of approximately 10.3%[42]. - Inventory rose to CNY 1.42 billion, compared to CNY 1.25 billion, indicating an increase of about 13.4%[42]. - The company's total assets decreased to CNY 13.66 billion from CNY 17.48 billion, a decline of approximately 21.5%[45]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,934[17]. - Beijing Shounong Food Group Co., Ltd. holds 535,908,935 shares, accounting for 35.32% of total shares[17]. - Beijing Enterprises (Dairy) Limited holds 283,142,849 shares, accounting for 18.66% of total shares[17]. - Shanghai Pingrun Investment Management Co., Ltd. holds 219,277,151 shares, accounting for 14.45% of total shares[17]. Investments and Acquisitions - The company acquired a 46.3675% stake in Shounong Animal Husbandry for a total transaction price of 112,851.51 million RMB[21]. - The company completed the acquisition of a 51% stake in Shounong Animal Husbandry in January 2022[21]. - The company acquired 100% equity in Hunan Taizi Dairy Group Biotech Co., Ltd. for 70,054,040 RMB through a public auction[37]. - The company plans to increase its stake in Beijing Sanyuan Meiyuan Food Co., Ltd. to 100% through a capital increase[25]. Operational Changes and Strategies - The company experienced a significant increase in breeding costs due to rising prices of feed ingredients, impacting profitability[9]. - The company ceased consolidating SPV (Luxembourg) and its related French companies from May, leading to a decline in revenue, while its main business (dairy products and ice cream) saw year-on-year growth[9]. - The company plans to focus on market expansion and new product development to enhance future growth prospects[57]. - The company approved a loan application of 100 million RMB from its subsidiary Shou Nong Animal Husbandry to Beijing Rural Commercial Bank, with a one-year term and corresponding guarantees provided by the company and Beijing Sanyuan Seed Industry Technology Co., Ltd. based on their shareholding ratios[26]. - The company’s subsidiary Allied Faxi New Zealand Food Co., Ltd. applied for a bank loan of 10 million NZD, with the company providing a guarantee for this loan for one year[28]. Research and Development - Research and development expenses for Q3 2022 were CNY 79,141,851.70, an increase of 22.8% compared to CNY 64,451,093.70 in Q3 2021[50]. Joint Ventures - The company approved the establishment of a joint venture with Modern Dairy in Beijing, with a registered capital of CNY 20 million, where Modern Dairy will contribute CNY 10.2 million (51%) and Shou Nong Livestock will contribute CNY 9.8 million (49%) to expand the dairy frozen semen market[38]. - A joint venture with Haiyuan Cattle Industry Development Group was also approved, with a registered capital of CNY 25 million, where Shou Nong Livestock will contribute CNY 12.75 million (51%) and Haiyuan Cattle will contribute CNY 12.25 million (49%) to enhance beef cattle breeding and sales[38].