金新农(002548) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,932,335,660.31, a decrease of 26.22% compared to CNY 2,618,996,890.44 in the same period last year[21]. - The net profit attributable to shareholders was a loss of CNY 184,606,152.99, representing a decline of 563.80% compared to a profit of CNY 39,802,840.00 in the previous year[21]. - The basic earnings per share were -CNY 0.27, a decrease of 550.00% from CNY 0.06 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 179,093,717.23, a decrease of 294.20% from CNY 92,219,079.43 in the previous year[21]. - The net loss for the first half of 2022 was CNY 222,286,649.19, compared to a net profit of CNY 58,338,928.64 in the first half of 2021[195]. - The company's total equity decreased from CNY 2.005 billion to CNY 1.427 billion, a decline of 28.8%[189]. Cash Flow and Assets - The net cash flow from operating activities increased by 257.04% to CNY 145,935,150.57, up from CNY 40,873,742.08 in the same period last year[21]. - The company's cash and cash equivalents increased by 113.34% to CNY 14,858,861.36, compared to a negative balance of CNY 111,390,147.97 in the same period last year[53]. - Total assets at the end of the reporting period were CNY 5,494,782,454.05, down 6.14% from CNY 5,854,217,111.26 at the end of the previous year[21]. - Total current assets decreased from CNY 1.892 billion to CNY 1.715 billion, a reduction of approximately 9.36%[187]. - The total liabilities increased from CNY 3.849 billion to CNY 4.068 billion, reflecting a growth of 5.69%[189]. Revenue Breakdown - The revenue from the pig farming business was 762.35 million yuan, accounting for 39.45% of total revenue, with a year-on-year sales volume increase of 48.45%[41]. - The revenue from the feed business was 1,008.79 million yuan, representing 52.21% of total revenue, but the gross margin decreased by 5.16% due to rising raw material prices[41]. - The company sold 669,600 pigs, representing a year-on-year increase of 48.45%[35]. - The feed sales volume was 388,200 tons, with a year-on-year decline of 6.30% for external sales[36]. Cost Management - The cost of selling commodity pigs was CNY 17.24 per kg, a year-on-year decrease of 21.24%[35]. - Sales expenses decreased by 36.94% to CNY 22.50 million, while management expenses dropped by 50.38% to CNY 105.27 million[37]. - The company implemented cost control measures, resulting in improved production indicators and reduced feed costs[35]. Investments and Acquisitions - The company sold 51% of Huayang Pharmaceutical for 153 million yuan, generating an investment income of 6.55 million yuan[40]. - The company acquired 49% of Fujian Yichun for 271.1 million yuan, making it a wholly-owned subsidiary to enhance core competitiveness[40]. - The cumulative investment in the Jin Xin Agricultural Industrial Park project reached ¥143,468,337.98, with a construction progress of 76.78%[67]. Risk Management - The company emphasizes the importance of risk disclosure and management strategies in its report[5]. - The company faces significant risks from animal diseases, which could impact production and costs[79]. - The company is exposed to price volatility in live pig markets, which could affect profitability if prices fall below production costs[80]. - The company is actively managing raw material price fluctuations through hedging and optimizing feed formulations[81]. Environmental Compliance - The company has established a wastewater treatment facility with a capacity of 230m³/d and 250m³/d, which is operating normally[94]. - The company received a fine of 148,756 RMB for environmental violations related to wastewater discharge[98]. - The company has complied with environmental regulations by preparing environmental impact reports for projects prior to implementation[95]. Shareholder and Stock Information - The company repurchased and canceled 1,725,900 shares of restricted stock during the reporting period[90]. - The total number of shares decreased from 690,731,133 to 689,039,362 due to the conversion of 34,129 shares from convertible bonds and the repurchase of 1,725,900 shares from departed incentive recipients[151]. - The proportion of restricted shares decreased from 22.12% to 20.95%, with a total of 8,481,922 restricted shares released[146]. Future Outlook - The company plans to expand its market presence, focusing on increasing production capacity and enhancing product offerings in the upcoming quarters[131]. - Future guidance suggests a projected revenue growth of 15% for the next quarter, driven by increased demand and market expansion strategies[131]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its product portfolio[131].