天禾股份(002999) - 2022 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2022 was CNY 3,948,414,845.60, representing a 42.48% increase compared to CNY 2,771,124,653.78 in the same period last year[4] - The net profit attributable to shareholders was CNY 13,964,563.28, up 43.19% from CNY 9,752,535.19 year-on-year[4] - The total profit for the period was CNY 30,172,434.45, marking a 52.20% increase compared to CNY 19,824,326.21 in the previous year[9] - Net profit for Q1 2022 was CNY 24,076,833.24, representing a 50.3% increase from CNY 16,014,015.09 in Q1 2021[24] - The company's total operating costs for Q1 2022 were CNY 3,900,621,158.39, up from CNY 2,731,337,695.75, reflecting a rise of 42.7%[23] - The company reported a total comprehensive income of CNY 23,816,083.25 for Q1 2022, up from CNY 17,616,313.91 in the previous year, a growth of 35.5%[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,590,897,341.29, a 50.05% increase from CNY 5,725,168,198.80 at the end of the previous year[4] - The company's total liabilities increased to CNY 7,224,104,154.23, up from CNY 4,382,191,094.99 year-over-year, indicating a growth of 64.5%[21] - As of March 31, 2022, the total assets of Guangdong Tianhe Agricultural Resources Co., Ltd. amounted to CNY 8,590,897,341.29, an increase from CNY 5,725,168,198.80 at the beginning of the year[19] - The company's cash and cash equivalents increased to CNY 1,428,272,333.83 from CNY 1,228,024,311.08 at the beginning of the year, reflecting a growth of approximately 16.3%[18] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 1,049,082,322.02, which is a 13.89% increase in outflow compared to CNY 921,106,613.24 in the same period last year[4] - Cash inflow from operating activities was CNY 4,446,079,578.34, an increase from CNY 2,956,545,372.90 in the same period last year[26] - The net cash flow from operating activities was -1,049,082,322.02 CNY, compared to -921,106,613.24 CNY in the previous year, indicating a decline in operational performance[28] - The total cash inflow from financing activities was 1,455,423,088.00 CNY, up from 966,224,230.18 CNY year-over-year, reflecting increased financing efforts[29] - The net cash flow from financing activities was 1,202,012,075.06 CNY, compared to 597,152,300.47 CNY in the same period last year, showing significant improvement[29] - The cash outflow from investing activities was 61,192,538.71 CNY, significantly higher than 19,069,937.57 CNY in the previous year, indicating increased investment expenditures[28] Accounts Receivable and Inventory - Accounts receivable increased by 535.69% to CNY 402,028,756.03, primarily due to seasonal business peaks and customer credit terms[8] - Inventory levels rose by 56.28% to CNY 3,107,493,433.80, reflecting increased stocking in response to seasonal demand[8] - Accounts receivable rose significantly to CNY 402,028,756.03 from CNY 63,243,048.94, indicating a substantial increase of over 535%[18] - Inventory levels increased to CNY 3,107,493,433.80 from CNY 1,988,436,401.18, representing a growth of approximately 56.3%[19] Research and Development - Research and development expenses increased by 58.63% to CNY 501,579.87, indicating a commitment to enhancing R&D investment[9] - Research and development expenses for Q1 2022 were CNY 501,579.87, up from CNY 316,194.87, reflecting a growth of 58.5%[23] Strategic Initiatives - The company plans to establish up to 100 county-level agricultural service companies with a registered capital of CNY 300,000 each, with a total investment of at least CNY 198,000 per company from the company and its subsidiaries[14] - As of March 31, 2022, the company has established 33 county-level agricultural service companies[14] - The company approved the use of up to CNY 10,000,000 of idle raised funds to temporarily supplement working capital, with a usage period of 12 months[14] - The company is investing approximately CNY 13,370,000 in the "Guangdong Silk Seed Rice Cross-County Cluster Industrial Park" project, with CNY 4,430,000 from provincial special financial funds and CNY 8,940,000 from self-raised funds[15] Debt Management - Short-term borrowings increased significantly to CNY 1,554,847,706.74 from CNY 383,734,069.44, indicating a rise of approximately 304%[19] - Accounts payable rose to CNY 607,377,970.80 from CNY 408,802,315.92, reflecting an increase of about 48.5%[19] - The company paid 240,460,342.97 CNY in debt repayment, down from 327,124,638.88 CNY in the previous year, indicating improved debt management[29]