京基智农(000048) - 2023 Q2 - 季度财报

Financial Performance - The net profit for the first half of 2023 is approximately CNY 1.62 billion, compared to a net loss of CNY 52.99 million in the same period last year, indicating a significant recovery[34]. - The total revenue for the first half of 2023 reached CNY 2.16 billion, a substantial increase from the previous year's loss of CNY 59.66 million[34]. - The company incurred an income tax expense of CNY 542.55 million, compared to a tax benefit of CNY 6.31 million in the previous year, indicating a shift towards profitability[34]. - The company reported a significant decrease in cash and cash equivalents, with a net decrease of 1,004,966,540.88 CNY in the first half of 2023 compared to a decrease of 1,986,499,065.81 CNY in the same period of 2022[39]. - The company reported a total operating income of 8.60 billion yuan, a significant increase of 685.76% compared to the same period last year[122]. - Net profit attributable to shareholders was 1.28 billion yuan, a remarkable turnaround from a loss of 184.21 million yuan, representing a 797.40% increase[122]. - The net profit after deducting non-recurring gains and losses was 1.34 billion yuan, up 1,463.35% year-on-year[122]. - Basic earnings per share reached 2.4553 yuan, compared to a loss of 0.3521 yuan per share in the same period last year, marking a 797.33% increase[122]. Cash Flow and Assets - The net cash flow from financing activities was -530,447,597.05 CNY for the first half of 2023, compared to -685,865,970.64 CNY in the same period of 2022, indicating a decrease of approximately 22.6%[39]. - The net cash flow from operating activities was -504,341,477.47 CNY for the first half of 2023, a significant decline from -82,575,877.62 CNY in the first half of 2022, reflecting a deterioration in operational performance[41]. - Total cash inflow from operating activities increased to 3,697,436,762.86 CNY in the first half of 2023, up from 3,238,713,666.33 CNY in the same period of 2022, representing an increase of approximately 14.2%[41]. - Cash outflow from operating activities rose to 4,201,778,240.33 CNY in the first half of 2023, compared to 3,321,289,543.95 CNY in the first half of 2022, marking an increase of about 26.4%[41]. - The total current assets decreased to 4,834,403,855.42 CNY as of June 30, 2023, down from 9,384,264,110.05 CNY at the beginning of the year, indicating a decline of about 48.5%[56]. - Total assets decreased from CNY 17,536,045,755.10 to CNY 12,861,013,050.80, a decline of approximately 26.7%[62]. - Cash and cash equivalents decreased from CNY 1,925,321,311.01 to CNY 919,050,471.54, a drop of about 52.3%[62]. Operational Strategies and Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[35]. - The company is focusing on improving its financial asset management strategies to mitigate credit risks and enhance returns[35]. - The company aims to leverage technological advancements in its operations to improve efficiency and customer engagement[35]. - The company plans to enhance its feed production capabilities and expand its market presence in the livestock sector[128]. - The company aims to enhance its pig farming project operations and optimize cash flow while accelerating sales and delivery of real estate projects[138]. Market and Industry Insights - In the first half of 2023, the total industrial feed production in China reached 149.3 million tons, representing a year-on-year growth of 7%[112]. - The average price of fattening pig feed from January to June 2023 was 3.74 RMB/kg, an increase of 2.8% year-on-year[112]. - The company has established multiple modern, large-scale pig farming bases in Guangdong and surrounding areas, utilizing a self-breeding and self-raising model with a standardized production line[109]. - The company has established a strategic cooperation framework with the Shenzhen Market Supervision Administration to supply pork products, enhancing its market presence in the Guangdong-Hong Kong-Macao Greater Bay Area[144]. Shareholder and Governance Information - The top ten shareholders include Jingji Group Co., Ltd. and Shenzhen Jingji Times Industrial Co., Ltd., with holdings of 173,029,557 and 156,183,392 shares respectively[80]. - The company did not conduct any repurchase transactions among the top ten shareholders during the reporting period[83]. - There were no changes in the controlling shareholder or actual controller during the reporting period[85]. - The company plans not to distribute cash dividends or issue bonus shares[70]. Research and Development - The company has invested CNY 19,117,343.89 in R&D, reflecting a 7.04% increase as part of its commitment to innovation[150]. - The company has established a deep collaboration with South China Agricultural University to form the South China Agricultural University Jingji Smart Agriculture Technology Research Institute, focusing on technology research projects[193]. Awards and Recognition - The company has received multiple awards, including "National Level Pig Production Capacity Regulation Base" and "Key Agricultural Leading Enterprise in Guangdong Province," enhancing its industry influence[196].