庄园牧场(002910) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥140,731,096.29, a decrease of 27.09% compared to ¥193,026,021.76 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥10,357,266.87, representing a decline of 156.04% from a profit of ¥18,483,116.14 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥11,417,662.39, down 171.42% from ¥15,986,781.98 in the same period last year[8] - The basic earnings per share were -¥0.050, a decrease of 150.00% from ¥0.100 in the same period last year[8] - The diluted earnings per share were also -¥0.050, reflecting the same percentage decrease of 150.00%[8] - The weighted average return on net assets was -0.85%, down 2.46% from 1.61% in the previous year[8] - The net profit for the first half of 2020 is expected to be between 600,000 and 900,000 CNY, representing a decline of over 50% year-on-year[26] - The net profit for the first half of 2019 was 2,670,000 CNY, indicating a significant decrease in performance due to the impact of COVID-19[26] Cash Flow and Assets - The net cash flow from operating activities increased by 8.30% to ¥45,117,172.25, compared to ¥41,658,852.79 in the previous year[8] - Total assets at the end of the reporting period were ¥2,561,487,113.60, an increase of 2.76% from ¥2,492,726,974.51 at the end of the previous year[8] - The net cash flow from operating activities for the first quarter was CNY 114,042,501.37, a significant increase compared to CNY 29,869,449.92 in the previous period, reflecting a growth of approximately 282%[57] - Total cash and cash equivalents at the end of the period amounted to CNY 288,482,254.08, down from CNY 351,273,394.19 in the previous period, indicating a decrease of about 17.9%[58] - The net cash flow from investing activities was -CNY 8,017,500.00, an improvement from -CNY 93,107,639.90 in the previous period, showing a reduction in cash outflow by approximately 91.4%[58] - The net cash flow from financing activities was -CNY 11,474,767.98, compared to a positive cash flow of CNY 127,217,280.26 in the previous period, indicating a shift in financing strategy[58] Expenses and Investments - The company's R&D expenses increased by 77.97% to ¥2,708,139.03 in Q1 2020 from ¥1,521,668.55 in Q1 2019, indicating a significant increase in investment in research and development[15] - The company reported a 61.41% decrease in taxes paid, amounting to ¥4,907,030.13 in Q1 2020 compared to ¥12,714,726.19 in Q1 2019, due to a significant reduction in the tax base[16] - The company's cash outflow for fixed asset investments decreased by 52.25% to ¥49,362,713.07 in Q1 2020 from ¥103,369,221.90 in Q1 2019, reflecting reduced investment activity[16] - The company's other operating income decreased by 82.39% to ¥226,289.02 in Q1 2020 from ¥1,285,241.22 in Q1 2019, primarily due to a reduction in government subsidies and other income[15] Liabilities and Equity - Current liabilities increased to CNY 1,039,665,954.31 from CNY 959,987,310.66, reflecting a rise of 8.0%[40] - Total liabilities reached CNY 1,347,152,246.36, up from CNY 1,267,319,786.15, indicating a growth of 6.3%[39] - The total equity attributable to shareholders decreased to CNY 1,214,334,867.24 from CNY 1,225,407,188.36, a decline of 0.8%[39] Operational Adjustments - The company is in the process of a non-public issuance of A-shares to optimize its financial structure and support the "Jinchuan District 10,000-head Dairy Cattle Breeding Circular Industry Park Project" and repay bank loans[17] - The company is actively adjusting its marketing strategies in response to the pandemic's impact on sales and profits[26] - The second quarter of 2020 is expected to show a turnaround from the first quarter, although year-on-year performance is still anticipated to decline significantly[26] Subsidiary Challenges - The company’s subsidiary in Ningxia is undergoing a policy-mandated relocation due to environmental protection regulations, which has resulted in economic losses[19] - The company’s subsidiary in Qinghai is also facing a similar policy-mandated relocation, with ongoing negotiations for compensation from the local government[21] Biological Assets - The fair value change loss for biological assets was reported at -¥5,298,649.59, a 143.14% increase in loss compared to -¥2,179,293.17 in the previous year[15]