Shennong Group(SH:605296)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was RMB 895,885,115.06, representing a year-on-year increase of 61.97%[15] - The net profit attributable to shareholders of the listed company was a loss of RMB 105,869,095.59, an increase in loss of 29.42% compared to the same period last year[15] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of RMB 104,731,160.06, reflecting a 31.25% increase in loss year-on-year[15] - The net cash flow from operating activities was RMB -215,605,197.33, indicating a decrease of 322.87% compared to the previous year[15] - The basic and diluted earnings per share were both RMB -0.20, compared to RMB 45.95 in the same period last year[4] - The weighted average return on net assets was -2.29%, a decrease of 1.10 percentage points compared to the previous year[4] - The net profit attributable to the parent company for Q1 2023 was -105,869,095.59 RMB, compared to -150,005,491.81 RMB in Q1 2022, showing an improvement[35] - The basic and diluted earnings per share for Q1 2023 were both -0.20 RMB, compared to -0.37 RMB in Q1 2022[36] - The company reported a net profit of ¥1,121,658.72 in Q1 2023, down from ¥2,113,753.96 in Q1 2022, representing a decline of approximately 47%[62] Assets and Liabilities - The total assets at the end of the reporting period were RMB 5,297,396,607.54, a decrease of 3.14% from the end of the previous year[4] - The equity attributable to shareholders of the listed company was RMB 4,583,211,882.54, down 2.04% from the end of the previous year[4] - As of March 31, 2023, the company's total current assets amounted to RMB 2,169,761,226.81, a decrease of approximately 12.3% from RMB 2,474,371,766.27 on December 31, 2022[30] - The company's total equity decreased to RMB 4,583,211,882.54 from RMB 4,678,446,229.59, a decline of approximately 2.0%[32] - The total liabilities as of March 31, 2023, were RMB 714,184,725.00, down from RMB 790,816,465.41, reflecting a decrease of about 9.7%[32] - The company's retained earnings as of March 31, 2023, were RMB 1,926,928,301.87, down from RMB 2,032,797,397.46, indicating a decrease of approximately 5.2%[32] - The company's capital reserve increased to RMB 2,032,901,801.20 from RMB 2,022,267,052.66, reflecting a growth of about 0.4%[32] - Total assets decreased to 3,516,953,746.79 RMB in Q1 2023 from 3,549,393,452.57 RMB in Q1 2022, reflecting a decline of approximately 0.9%[80] - The company's total liabilities decreased to 102,390,471.13 RMB in Q1 2023 from 142,618,463.61 RMB in Q1 2022, indicating a reduction of about 28.2%[80] Cash Flow - The company's cash and cash equivalents were RMB 603,361,085.16, down from RMB 995,703,489.92, representing a decline of about 39.4%[30] - The company's cash and cash equivalents decreased to 153,800,034.71 RMB from 393,657,052.70 RMB year-over-year[39] - The net cash inflow from operating activities in Q1 2023 was ¥891,841,085.32, compared to ¥544,148,818.98 in Q1 2022, indicating a growth of 64%[65] - The net cash flow from operating activities was negative CNY 215,605,197.33, worsening from negative CNY 50,986,565.02 in the previous year[70] - The total net cash flow from investment activities was negative CNY 90,464,465.23, compared to negative CNY 185,378,656.49 in Q1 2022[70] - The net cash flow from financing activities was negative CNY 32,880,242.20, slightly worse than negative CNY 30,982,504.99 in the same period last year[70] - The company experienced a net decrease in cash and cash equivalents of CNY 239,857,017.99 during the quarter, compared to a decrease of CNY 70,498,183.74 in Q1 2022[74] - The cash inflow from investment activities in Q1 2023 was 46,363,846.58 RMB, significantly lower than 574,328,404.38 RMB in Q1 2022, representing a decline of approximately 91.9%[83] - The company incurred cash outflows from investment activities totaling 260,339,439.42 RMB in Q1 2023, compared to 587,201,178.67 RMB in Q1 2022, a decrease of about 55.7%[83] Investments and Subsidiaries - The company established "Yunnan Shennong Shanhai Supply Chain Co., Ltd." with an investment of RMB 6.12 million, aiming to expand its supply chain management services[11] - The company established a wholly-owned subsidiary, "Guangdong Shennong Animal Husbandry Co., Ltd." with an investment of RMB 10 million, aimed at enhancing its competitive edge during market downturns[28] - The company also invested RMB 10 million to set up "Honghe Mile Shennong Animal Husbandry Co., Ltd." to strengthen its full industry chain layout[27] - The company also set up "Yunnan Shennong Shanhai Supply Chain Co., Ltd." as part of its external investment strategy[49] Operational Efficiency and Management - The increase in operating revenue was primarily due to the rise in pig sales and prices compared to the same period last year[6] - The company plans to enhance risk management mechanisms in response to potential market and operational risks associated with new investments[53] - The company aims to improve management capabilities and operational efficiency to adapt to new market changes[53] - The company emphasizes the importance of timely information disclosure to investors, urging them to invest rationally and be aware of investment risks[55] Research and Development - Research and development expenses for Q1 2023 were ¥4,851,637.50, a decrease of 33% compared to ¥7,270,306.41 in Q1 2022[62] - Research and development expenses decreased to CNY 4,851,637.50 from CNY 7,270,306.41 in the previous year, reflecting a reduction of 33.5%[70]