NWF(SH:600975)2023-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 1,210,487,773.57, representing a significant increase of 158.93% year-on-year due to a substantial growth in hog sales[22] - The net profit attributable to shareholders of the listed company was CNY -226,350,024.23, indicating a loss[22] - Basic earnings per share for the quarter were CNY -0.21[22] - The company's net loss attributable to shareholders for the first quarter of 2023 was CNY 226.35 million, compared to a net loss of CNY 142.77 million in the same period of 2022, representing an increase in losses of approximately 58.5%[58] - The basic and diluted earnings per share for the first quarter of 2023 were both CNY -0.21, compared to CNY -0.18 in the first quarter of 2022[58] - Q1 2023 operating profit was -¥150,032,843.15, compared to -¥107,204,977.00 in Q1 2022, indicating a decline in profitability[73] - Q1 2023 net profit was -¥155,073,254.63, worsening from -¥108,066,999.89 in Q1 2022[73] Assets and Liabilities - Total assets increased by 7.40% to CNY 10,831,163,207.93 compared to the end of the previous year[10] - As of March 31, 2023, the company's total assets reached approximately CNY 10.83 billion, an increase from CNY 10.09 billion as of December 31, 2022, representing a growth of about 7.3%[52] - The total current assets increased to CNY 2.98 billion from CNY 2.42 billion, reflecting a growth of around 23.0%[52] - Total liabilities increased to CNY 8,163,751,411.69 from CNY 7,178,487,645.11, representing a rise of about 13.7%[70] - The total current liabilities rose to CNY 2.34 billion from CNY 2.01 billion, indicating an increase of approximately 16.3%[54] - Long-term borrowings increased to CNY 1.71 billion from CNY 1.33 billion, reflecting a growth of about 28.3%[54] - The company's total equity decreased to ¥3,135,485,598.85 in Q1 2023 from ¥3,290,841,872.35 in Q1 2022[77] Cash Flow - The company reported a net cash flow from operating activities of CNY -139,737,572.09[22] - Net cash flow from operating activities for Q1 2023 was CNY -112,352,944.59, an improvement compared to CNY -175,073,126.36 in Q1 2022[65] - Cash inflow from financing activities in Q1 2023 was ¥961,483,209.57, slightly down from ¥963,561,204.18 in Q1 2022[39] - The net cash flow from financing activities for Q1 2023 was CNY 450,953,040.40, compared to CNY 133,960,777.77 in Q1 2022, indicating a significant increase[65] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,344[13] - The company completed the issuance of 271,438,269 shares, increasing total share capital to 1,076,479,236 shares[29] - The equity attributable to shareholders of the listed company decreased by 8.40% to CNY 2,456,359,999.36 compared to the end of the previous year[10] Operational Highlights - The company completed the acquisition of 100% equity in Hunan Tianxin Seed Industry Co., Ltd. and other related assets as part of its strategic expansion[18] - The company received government subsidies amounting to CNY 5,430,775.21, which are closely related to its normal business operations[10] Inventory and Costs - Total operating costs for Q1 2023 were ¥1,446,641,765.07, up 106.7% from ¥697,679,423.86 in Q1 2022[33] - The company’s total operating costs included operating costs of ¥1,331,865,359.46 for Q1 2023, which is an increase from ¥611,348,505.03 in Q1 2022[33] - Inventory as of March 31, 2023, was CNY 965,873,472.57, up from CNY 805,337,345.46, showing an increase of approximately 19.9%[61] - The company's inventory as of March 31, 2023, was CNY 1.73 billion, an increase from CNY 1.54 billion, showing a growth of about 12.6%[52] Other Financial Metrics - The weighted average return on net assets decreased by 2.84 percentage points to -8.81%[22] - The company reported a comprehensive loss of CNY -155,073,254.63 for the period, compared to a loss of CNY -108,066,999.89 in the previous year[64] - Financial expenses rose to ¥28,020,709.06 in Q1 2023, compared to ¥19,609,649.36 in Q1 2022[73] - The company experienced a decline in investment income, reporting -¥8,077,715.87 in Q1 2023 versus ¥1,256,390.52 in Q1 2022[73] - The company reported a significant increase in contract liabilities to ¥58,739,950.70 in Q1 2023 from ¥17,413,804.22 in Q1 2022[77]