京基智农(000048) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,094,718,617.20, a decrease of 57.45% compared to ¥2,572,948,157.21 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was -¥184,210,820.93, representing a decline of 137.64% from ¥489,431,861.25 in the previous year[27]. - The basic earnings per share for the reporting period was -¥0.3521, down 137.64% from ¥0.9354 in the same period last year[27]. - The diluted earnings per share also stood at -¥0.3521, reflecting the same decline as the basic earnings per share[27]. - The weighted average return on net assets was -8.77%, a decrease of 26.93% from 18.16% in the previous year[27]. - The company reported a net profit of -104,240,880.25 CNY from non-operating asset disposal losses during the reporting period[30]. - The company achieved a net profit growth of 42% in its feed business, despite facing challenges from high commodity prices and market competition[43]. - The company reported a significant decrease in sales expenses by 96.60% to ¥6,474,386.53, linked to the lack of real estate project revenue recognition[63]. - The company reported a net loss of approximately ¥30.46 million from investment income, primarily due to the transfer of equity in a subsidiary[71]. - The company reported a total comprehensive income attributable to the parent company of CNY -176,652,619.97 for the first half of 2022, compared to CNY 494,148,357.13 in the same period of 2021[197]. Assets and Liabilities - The total assets at the end of the reporting period were ¥15,189,815,000.20, reflecting a 2.41% increase from ¥14,832,560,318.32 at the end of the previous year[27]. - The company's total assets included cash of approximately ¥1.81 billion, down 11.87% from the previous year, mainly due to investments in pig farming projects and dividend distributions[72]. - Inventory increased to approximately ¥5.39 billion, representing 35.51% of total assets, up from 28.98% the previous year, driven by real estate project expenditures and biological asset increases in pig farming[72]. - Contract liabilities rose to approximately ¥7.93 billion, accounting for 52.21% of total assets, due to cash received from property sales[72]. - The company's total equity decreased to CNY 1,692,482,994.11 from CNY 2,559,146,639.08, representing a decline of 33.8%[188]. - The total current liabilities rose to approximately CNY 3.12 billion, compared to CNY 2.98 billion at the beginning of the year, indicating an increase of about 4.7%[182]. Operational Highlights - The company sold a total of 50.89 million pigs during the reporting period, including 9.84 million piglets[40]. - The company has established four major pig breeding bases in Guangdong and surrounding areas, with an annual production capacity exceeding 2 million pigs[37]. - The company’s feed production volume for the first half of 2022 was 2,332 million tons, a year-on-year decrease of 9.4%[39]. - The company’s total pig feed production volume was 945 million tons, down 12.4% year-on-year[39]. - The company’s chicken seedling output was 9.92 million chicks, a year-on-year decrease of 21%[43]. - The company has a total of approximately 90,900 breeding sows, maintaining a leading position in the region[52]. Strategic Initiatives - The company aims to enhance production capacity utilization and optimize the breeding structure in its modern agriculture projects[45]. - The company plans to focus on the construction and sales of the "Shanhai Gongguan" and "Shanhai Yuyuan" projects, ensuring timely delivery and increasing sales efforts[45]. - The company has established a full industry chain from breeding to feed to high-quality livestock products, primarily serving the Guangdong-Hong Kong-Macao Greater Bay Area market[49]. - The company has signed a strategic cooperation framework agreement with the Shenzhen Market Supervision Administration to ensure stable supply of pork products during the pandemic[50]. - The company is enhancing its biosecurity measures to mitigate risks from animal diseases, including establishing a dedicated management team for African swine fever[91]. Research and Development - Research and development investment rose by 14.54% to ¥17,860,133.55, indicating a commitment to innovation[63]. - The company has developed a comprehensive feed formula that effectively reduces breeding costs by providing balanced nutrition tailored to different growth stages of pigs[54]. - Research and development expenses increased to CNY 17,860,133.55 in the first half of 2022, compared to CNY 15,593,317.91 in the previous year, reflecting a focus on innovation[196]. Social Responsibility and Sustainability - The company actively engaged in social responsibility initiatives, donating over 300,000 yuan in funds and materials for various public welfare activities[110]. - The company is committed to environmental protection by implementing an ecological farming model and transforming waste into resources, contributing to local agricultural development[110]. - The company has built a comprehensive pig industry chain project, ensuring traceability from farm to table and providing high-quality pork products to consumers[109]. Corporate Governance - The annual shareholders' meeting had a participation rate of 73.46% on April 8, 2022[97]. - The company has fulfilled all commitments made by its actual controller and shareholders during the reporting period[117]. - The company reported no non-operating fund occupation by controlling shareholders or related parties[120]. - The company has no violations regarding external guarantees during the reporting period[120]. - The company has not engaged in any significant equity or non-equity investments during the reporting period[82][83].