Shennong Group(SH:605296)2021-10-21 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥626,237,277.13, a decrease of 9.92% compared to the same period last year[2]. - The net profit attributable to shareholders was a loss of ¥135,038,112.28, representing a decline of 143.84% year-over-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥145,496,549.35, down 147.18% from the previous year[2]. - The basic and diluted earnings per share were both -¥0.34, a decrease of 139.53% compared to the same period last year[3]. - The weighted average return on equity decreased by 48.90 percentage points to -2.91%[3]. - The decline in net profit was primarily attributed to falling pig prices, impacting overall profitability[7]. - Net profit for Q3 2021 was CNY 228,883,305.36, a decrease from CNY 937,624,035.15 in Q3 2020, representing a decline of approximately 75.6%[20]. - Operating profit for Q3 2021 was CNY 239,285,036.73, down from CNY 947,754,337.77 in the same period last year, indicating a decrease of about 74.8%[20]. - The total comprehensive income for Q3 2021 was CNY 228,883,305.36, down from CNY 937,624,035.15 in Q3 2020, marking a decline of approximately 75.6%[21]. - Basic and diluted earnings per share for Q3 2021 were both CNY 0.61, compared to CNY 2.60 in Q3 2020, representing a decrease of about 76.5%[21]. Assets and Liabilities - Total assets increased by 76.11% to ¥5,063,967,661.26 compared to the end of the previous year[3]. - Total current assets reached approximately ¥2.75 billion, up from ¥1.40 billion, marking a 96.9% increase year-over-year[17]. - The company's total liabilities decreased to approximately ¥584.16 million from ¥615.95 million, a reduction of 5.1%[18]. - Total liabilities increased to CNY 615,948,088.88 from CNY 706,848,240.51, a change of CNY 90,900,151.63[27]. - Owner's equity totaled CNY 2,259,542,958.94, remaining unchanged[27]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥220,991,423.23, a decrease of 76.21% year-over-year[3]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 2,175,852,988.38, compared to CNY 2,033,296,931.77 in the previous year, showing an increase of approximately 7%[22]. - Cash flow from investing activities for Q3 2021 resulted in a net outflow of CNY 1,298,753,352.10, compared to a net outflow of CNY 924,061,916.32 in Q3 2020, reflecting a significant increase in investment activities[23]. - Cash flow from financing activities for Q3 2021 was CNY 1,845,356,035.38, a substantial increase compared to a net outflow of CNY 157,398,761.86 in Q3 2020, indicating strong financing efforts[23]. - The net increase in cash and cash equivalents for Q3 2021 was CNY 767,594,106.51, contrasting with a decrease of CNY 152,357,180.50 in Q3 2020, indicating improved liquidity[24]. - Cash and cash equivalents at the end of Q3 2021 totaled CNY 1,046,013,223.18, up from CNY 308,644,197.37 at the end of Q3 2020, reflecting a significant increase in cash reserves[24]. Investments and Subsidiaries - The company established three wholly-owned subsidiaries with an investment of RMB 10 million each, totaling RMB 30 million[11]. - The subsidiaries include "Qujing Zhanyi Shennong Animal Husbandry Co., Ltd.", "Yunnan Chengjiang Shennong Food Co., Ltd.", and "Guangxi Chongzuo Shennong Feed Co., Ltd."[11]. - The establishment of these subsidiaries aims to enhance the company's competitiveness and improve its risk resistance during periods of declining pig prices[13]. - The company expects that these investments will not adversely affect its financial and operational status[13]. - The investments are funded entirely by the company's own capital, mitigating risks to shareholders, especially minority shareholders[13]. - The company will closely monitor the performance of the new subsidiaries and strengthen risk prevention mechanisms[14]. Research and Development - Research and development expenses for the first three quarters of 2021 were approximately ¥18.45 million, compared to ¥9.53 million in the same period of 2020, an increase of 93.5%[19].