NWF(SH:600975)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥485,515,094.25, a decrease of 45.95% compared to the same period last year[10] - The net profit attributable to shareholders of the listed company was -¥174,361,178.92, a decline of 298.42% year-on-year[10] - The net cash flow from operating activities was -¥371,774,050.79, representing a decrease of 517.97% compared to the previous year[10] - Total operating revenue for the first three quarters of 2021 was ¥1,453,929,997.30, a decrease of approximately 20.3% compared to ¥1,823,173,714.96 in the same period of 2020[31] - Net profit for the third quarter of 2021 was -¥99,130,738.14, compared to a net profit of ¥236,136,662.30 in the same quarter of 2020, reflecting a significant decline[36] - Total comprehensive income for the third quarter of 2021 was -¥99,130,738.14, compared to ¥236,136,662.30 in the same quarter of 2020, indicating a substantial decline[36] Assets and Liabilities - Total assets increased to ¥4,145,709,857.32, an increase of 86.03% from the end of the previous year[10] - The company's total liabilities reached RMB 2,759,635,828.20, compared to RMB 727,428,454.90 in the previous year, marking an increase of about 278%[28] - The owner's equity decreased to RMB 1,386,074,029.12 from RMB 1,501,089,423.78, reflecting a decline of approximately 7.7%[28] - The company's total equity decreased slightly from 1,501,089,423.78 RMB to 1,489,078,546.46 RMB, a decline of about 0.8%[51] - Non-current liabilities rose significantly from 89,515,783.37 RMB to 499,833,383.40 RMB, an increase of about 458.5%[51] Cash Flow - The net cash flow from operating activities for the first three quarters of 2021 was -¥371,774,050.79, a stark contrast to a positive cash flow of ¥88,947,202.44 in the same period of 2020[40] - Cash received from operating activities totaled ¥1,611,923,833.21 in the first three quarters of 2021, a decrease from ¥1,969,867,033.58 in the same period of 2020[40] - The net cash flow from investment activities was -227,838,049.77 RMB, compared to -221,148,956.48 RMB in the previous period, indicating a slight increase in cash outflow[43] - The net cash flow from financing activities was 510,206,238.50 RMB, compared to 259,550,303.77 RMB previously, showing improved financial management[43] Shareholder Information - The total number of common shareholders at the end of the reporting period was 84,220[18] - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., held 30.88% of the shares[18] Operational Insights - The company attributed the decline in revenue and profit primarily to falling pig prices and rising feed costs[14] - Research and development expenses increased to ¥9,294,906.95 in the first three quarters of 2021, up from ¥5,538,379.17 in 2020, representing a growth of approximately 67.5%[31] - The company reported a significant increase in financial expenses, which rose to ¥40,958,436.68 in the first three quarters of 2021, compared to ¥7,915,130.66 in the same period of 2020[31] Future Outlook - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for Q4 2021, reflecting an expected growth of 25%[52] - New product launches are anticipated to contribute an additional 300 million RMB in revenue over the next quarter[52] - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[52] - Market expansion plans include entering two new provinces, projected to increase market share by 10%[52] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for this purpose[52] - A new marketing strategy is expected to boost brand awareness by 30% in the next six months[52] Performance Metrics - The basic earnings per share were -¥0.27, a decrease of 307.69% compared to the same period last year[10] - The weighted average return on net assets was -12.42%, a decrease of 18.95 percentage points year-on-year[10] - Basic earnings per share for the third quarter of 2021 were -¥0.15, down from ¥0.36 in the same quarter of 2020[36] - The gross margin for Q3 2021 improved to 35%, up from 30% in the previous quarter[52] - Operating expenses were reduced by 5% compared to the previous quarter, contributing to overall profitability[52]