登海种业(002041) - 2023 Q1 - 季度财报

Financial Performance - Total operating revenue for Q1 2023 was ¥262,932,208.54, a decrease of 21.51% compared to ¥335,001,959.10 in the same period last year[26] - Net profit attributable to shareholders for Q1 2023 was ¥44,718,132.09, down 57.12% from ¥104,279,159.28 year-on-year[26] - Net profit after deducting non-recurring gains and losses was ¥30,779,394.75, a decline of 64.69% compared to ¥87,180,870.85 in the previous year[26] - Basic and diluted earnings per share for Q1 2023 were both ¥0.0508, down 57.13% from ¥0.1185 in the previous year[26] - Net profit attributable to shareholders of the parent company decreased by 57.12% compared to the same period last year, primarily due to a sluggish seed market and decreased sales[29] Cash Flow - The net cash flow from operating activities for Q1 2023 was -¥116,694,910.47, an improvement of 20.34% from -¥146,493,277.79 in the same period last year[26] - Cash flow from operating activities decreased by 29,798,367.32 yuan compared to the same period last year, primarily due to reduced cash payments for goods and services[30] - Cash flow from investing activities decreased by 84,405,442.28 yuan compared to the same period last year, mainly due to a decrease in net redemption and purchase of financial products[30] - Cash flow from financing activities increased by 16,426,699.85 yuan compared to the same period last year, primarily due to an increase in cash received from borrowings[30] - Net cash flow from operating activities was -$116,694,910.47, improving from -$146,493,277.79 year-over-year[37] - Net cash flow from investing activities was $79,129,273.84, down from $163,534,716.12 year-over-year[37] - Net cash flow from financing activities was $9,108,655.42, a significant improvement from -$7,318,044.43 year-over-year[38] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥4,485,727,487.96, a decrease of 3.07% from ¥4,627,682,170.43 at the end of the previous year[26] - Total assets decreased from 4,627,682,170.43 yuan at the beginning of the period to 4,485,727,487.96 yuan at the end of the period[33] - Total liabilities decreased to ¥848,501,926.87 from ¥1,040,804,330.96 year-over-year[45] - Total equity increased to ¥3,637,225,561.09 from ¥3,586,877,839.47 year-over-year[45] Investments and Subsidiaries - The company established a wholly-owned subsidiary, Xinjiang Denghai Agricultural Technology Co., Ltd., with an investment of ¥30 million to expand its operations in agricultural technology[17] - Research and development expenses for Q1 2023 were ¥13,021,464.53, compared to ¥12,071,372.29 in the same period last year[21] Other Financial Metrics - The company reported a gross profit margin decrease due to higher operating costs, with total operating costs for Q1 2023 at ¥226,675,824.57, down from ¥250,215,057.71 in the previous year[21] - Accounts receivable increased by 89.89% compared to the beginning of the period, primarily due to increased credit support for reputable distributors within the rebate limits[29] - Other current assets grew by 36.33% compared to the beginning of the period, mainly due to estimated return costs not yet realized in the ongoing sales season[29] - Short-term borrowings increased by 377.50% compared to the beginning of the period, as subsidiaries increased bank loans for prepayment of production funds[29] - Other income increased by 180.92% compared to the same period last year, mainly due to an increase in government subsidies recognized[29] Audit and Compliance - The first quarter report is unaudited[50] - The company guarantees that the information disclosed is true, accurate, and complete without any false records or misleading statements[51] - There are no non-recurring profit and loss items applicable to the company[52] - The company does not classify any non-recurring profit and loss items as recurring[52]