Luoniushan (SZ:000735)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 954,019,104.70, a decrease of 19.77% compared to CNY 1,189,127,813.07 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 31,811,733.08, down 53.03% from CNY 67,732,206.66 in the previous year[21]. - The company reported a basic earnings per share of CNY 0.0276, down 53.06% from CNY 0.0588 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 28,225,113.63, a decrease of 44.01% compared to CNY 50,409,104.48 in the previous year[21]. - The total revenue for the reporting period was CNY 954,019,104.70, a decrease of 19.77% compared to CNY 1,189,127,813.07 in the same period last year[56]. - The livestock farming and slaughter processing segment generated CNY 775,490,115.69, accounting for 81.29% of total revenue, down 23.11% year-on-year[56]. - The company reported a total comprehensive income of CNY 38.61 million, down 45.2% from CNY 70.30 million in the previous year[162]. - The company achieved investment income of CNY 25.23 million, down 25.3% from CNY 33.73 million in the same period last year[162]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to CNY 466,854,535.59, a 308.74% improvement from a negative cash flow of CNY -223,658,014.64 in the same period last year[21]. - The company reported a net increase in cash and cash equivalents of CNY 386,588,911.58, a decrease of 10.38% from CNY 431,347,780.23[56]. - Cash received from sales of goods and services surged to CNY 1,800,109,018.67, up from CNY 1,160,121,951.19, representing an increase of about 55.2% year-over-year[168]. - The ending balance of cash and cash equivalents was CNY 603,825,325.96, down from CNY 679,705,930.55 in the previous year, reflecting a decrease of approximately 11.2%[169]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 9,472,704,637.33, reflecting a 12.38% increase from CNY 8,428,863,890.88 at the end of the previous year[21]. - The company's total liabilities reached CNY 4,721,572,291.85, a rise from CNY 4,138,017,920.32, marking an increase of 14.1%[155]. - Owner's equity amounted to CNY 4,751,132,345.48, compared to CNY 4,290,845,970.56, indicating a growth of 10.7%[156]. - The total amount of changes in equity during the current period was CNY 313,520,374.92, indicating positive financial performance[174]. Business Operations - The core business remains focused on four main sectors: pig farming and slaughtering, cold chain business, real estate, and education, with pig farming being the primary source of revenue and profit[28]. - The company has established a comprehensive "full industry chain" operating model in pig farming, enhancing its risk resistance and cost advantages[47]. - The company is actively expanding its pig farming capacity by increasing the number of breeding sows and adjusting breeding rates in response to market conditions[31]. - The company has established multiple large-scale breeding bases in Danzhou, Haikou, and Yazhou to enhance the scale and standardization of livestock farming[104]. Market and Industry Trends - The average pig-to-grain price ratio in China was 4.90:1 as of June 25, 2021, indicating a decline into the warning zone, as the breakeven point for pig farming is approximately 7:1[35]. - The competitive landscape in the pig farming industry is intensifying, with increased market concentration and competition due to favorable government policies[91]. - The government has implemented policies to stabilize pig production and promote recovery in the industry, which has positively impacted the company's operations[33]. Environmental and Social Responsibility - The company is committed to environmental protection and energy conservation, continuously innovating to improve its environmental standards[49]. - The company has established a comprehensive disease prevention system to mitigate risks associated with African swine fever, which has significantly impacted the industry since 2018[87]. - The company actively participates in social responsibility initiatives, including donations and support for poverty alleviation, contributing 600,000 yuan to the Hope Project in 2021[106]. Strategic Initiatives - The company is committed to enhancing market competitiveness and promoting high-quality development in line with the "14th Five-Year Plan"[28]. - The company plans to rationally invest and optimize its product structure in the real estate sector to ensure stable development and provide necessary cash flow for its pig farming business[43]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[56]. Governance and Compliance - There were changes in senior management, with a new president appointed on July 2, 2021[95]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[113]. - The semi-annual financial report has not been audited[115]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[174].