Shennong Group(SH:605296)2022-10-27 16:00Financial Performance - Q3 2022 revenue reached RMB 894,121,718, an increase of 42.78% year-on-year, while year-to-date revenue decreased by 6.41% to RMB 2,072,192,124.20[2]. - Net profit attributable to shareholders for Q3 2022 was RMB 154,645,899.97, a significant increase of 214.52% year-on-year, but a decrease of 86.07% year-to-date[2][7]. - Basic and diluted earnings per share for Q3 2022 were both RMB 0.30, down 90.16% compared to the same period last year[3][7]. - Total operating revenue for the first three quarters of 2022 was CNY 2,072,192,124.20, a decrease of 6.4% compared to CNY 2,214,216,230.18 in the same period of 2021[23]. - Total operating costs increased to CNY 2,010,212,933.29, up from CNY 1,885,520,033.53, reflecting a rise of 6.6%[23]. - Total revenue for Q3 2022 was 31,880,930.89 CNY, a decrease of 86.05% compared to 228,883,305.36 CNY in Q3 2021[24]. - Operating profit for Q3 2022 was -9,799.83 CNY, compared to 83,816.60 CNY in Q3 2021, indicating a significant decline[24]. - Net profit for Q3 2022 was 3,784,234.28 CNY, down 61.0% from 9,717,454.95 CNY in Q3 2021[24]. - Basic and diluted earnings per share for Q3 2022 were both 0.06 CNY, compared to 0.61 CNY in Q3 2021[25]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was negative RMB 7,993,976.91, reflecting a decline of 103.62% year-on-year[3][7]. - Cash flow from operating activities for the first nine months of 2022 was -7,993,976.91 CNY, a sharp decline from 220,991,423.23 CNY in the same period of 2021[26]. - Cash inflow from investment activities in the first nine months of 2022 was 1,017,539,308.91 CNY, compared to 470,643,064.63 CNY in the same period of 2021[26]. - Cash outflow for purchasing fixed assets and intangible assets in the first nine months of 2022 was 455,412,552.71 CNY, down from 786,146,416.73 CNY in the same period of 2021[26]. - The company's cash and cash equivalents at the end of the period were ¥697,703,431.27, down from ¥1,046,013,223.18, representing a decrease of about 33.4%[27]. - The total cash flow from operating activities for the first three quarters of 2022 was approximately ¥445.34 million, down from ¥523.39 million in the same period of 2021, reflecting a decrease of about 15%[32]. Assets and Liabilities - Total assets as of the end of Q3 2022 were RMB 5,016,290,378.86, a decrease of 2.97% from the end of the previous year[3]. - Total assets decreased to CNY 5,016,290,378.86 from CNY 5,169,809,978.42, a reduction of 3.0%[21]. - Total liabilities decreased to CNY 572,224,534.73 from CNY 673,597,626.60, a decline of 15.0%[22]. - The company's equity attributable to shareholders decreased to CNY 4,444,065,844.13 from CNY 4,496,212,351.82, a decline of 1.2%[22]. - The total owner's equity decreased to ¥3,360,844,108.89 from ¥3,453,695,669.39, indicating a reduction of approximately 2.7%[29]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,194[10]. - The largest shareholder, He Zuxun, holds 261,016,651 shares, accounting for 49.78% of total shares[10]. - The top ten shareholders include significant stakes from He Qiaoguan (11.49%) and Yunnan Zhengdao Investment Development Partnership (10.04%)[10]. Business Developments - The company established a wholly-owned subsidiary, Guangxi Chongzuo Shennong Animal Husbandry Co., Ltd., with a registered capital of RMB 20 million[14]. - The company signed a cooperation agreement with Wens Foodstuff Group to acquire related assets for RMB 79.6 million, involving multiple breeding projects[15]. - The establishment of the new subsidiary is expected to enhance the company's competitiveness during periods of declining pork prices[15]. - The company emphasizes that the external investments will not adversely affect its financial status or shareholder interests[15]. - The company will closely monitor the new subsidiary's performance and strengthen risk management mechanisms[17]. - The cooperation agreement with Wens Group is a framework agreement, with specific project details still to be finalized[17]. Operational Challenges - The company experienced a 35.41% decrease in cash and cash equivalents, attributed to increased operational payments[7]. - Management expenses increased by 30.86% due to business expansion, including higher depreciation and employee compensation[9]. - The company faced an administrative penalty of RMB 250,000 due to environmental issues related to a subsidiary's operations[18]. - The company reported a significant increase in accounts receivable by 128.68%, primarily due to feed receivables not reaching the credit period[7].