新农股份(002942) - 2023 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2023 was ¥275,296,537.41, a decrease of 11.16% compared to ¥309,867,486.10 in the same period last year[5] - Net profit attributable to shareholders was ¥10,792,398.23, down 70.41% from ¥36,471,489.16 year-on-year[5] - Basic and diluted earnings per share were both ¥0.07, a decrease of 69.57% from ¥0.23 in the same period last year[5] - The company reported a net profit margin of approximately 2.4% for Q1 2023, down from 13.3% in the previous year[18] - In Q1 2023, the net profit of Zhejiang Xinong Chemical Co., Ltd. was CNY 10,792,398.23, a decrease of 70.4% compared to CNY 36,471,489.16 in Q1 2022[19] - The total revenue from operating activities was CNY 227,429,761.91, slightly down from CNY 231,668,313.99 in the previous year[21] - The company reported a total comprehensive income of CNY 12,205,073.17, down from CNY 39,706,835.02 in Q1 2022[20] Cash Flow and Assets - The net cash flow from operating activities was -¥54,289,133.02, compared to -¥20,578,020.79 in the previous year, indicating a significant decline[10] - Cash and cash equivalents decreased to CNY 106,838,210.58 from CNY 153,244,257.70 at the beginning of the year, representing a decline of 30.4%[15] - The cash and cash equivalents at the end of the period were CNY 69,896,449.77, down from CNY 101,961,527.55 at the end of Q1 2022[22] - The company incurred a total of CNY 281,718,894.93 in cash outflows from operating activities, compared to CNY 252,246,334.78 in Q1 2022[21] - The investment activities generated a net cash flow of CNY 10,022,473.02, recovering from a negative cash flow of CNY -4,587,958.59 in the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,591,215,090.44, down 3.02% from ¥1,640,813,247.21 at the end of the previous year[5] - Total assets as of March 31, 2023, were CNY 1,591,215,090.44, down from CNY 1,640,813,247.21 at the beginning of the year, indicating a decrease of 3.0%[17] - Total liabilities decreased to CNY 407,236,799.52 from CNY 469,544,003.54, a decline of 13.3%[17] - The company's equity attributable to shareholders increased to CNY 1,183,978,290.92 from CNY 1,171,269,243.67, an increase of 1.0%[17] Operational Costs and Expenses - Total operating costs for Q1 2023 were CNY 269,917,998.89, slightly up from CNY 268,448,068.54 year-on-year[18] - The company’s income tax expense decreased by 80.74% to ¥1,631,804.35, reflecting a reduction in profit[10] - The company’s tax expenses for the quarter were CNY 1,631,804.35, significantly lower than CNY 8,470,415.10 in the same period last year[19] - Research and development expenses increased to CNY 18,524,154.33, up from CNY 17,330,948.12, indicating a focus on innovation[19] Market Strategy - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[16] Other Financial Metrics - The weighted average return on equity was 0.92%, a decrease of 2.23 percentage points from 3.15% in the previous year[5] - The company experienced a 54.84% increase in prepayments, totaling ¥14,464,308.22, primarily due to increased advance payments to suppliers[10] - The company reported a significant increase in derivative financial assets, rising 237.73% to ¥684,823.00 due to changes in the fair value of forward foreign exchange products[9] - Accounts receivable increased to CNY 167,261,948.75 from CNY 137,657,884.84, reflecting a growth of 21.5%[16] - Inventory decreased to CNY 148,935,962.85 from CNY 155,178,107.63, a reduction of 4.0%[16]