天禾股份(002999) - 2023 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2023 was CNY 3,896,695,218.44, a decrease of 1.31% compared to CNY 3,948,414,845.60 in the same period last year[5] - Net profit attributable to shareholders was CNY 11,578,582.90, down 17.09% from CNY 13,964,563.28 year-on-year[5] - The company reported a net profit of CNY 15,894,775.31, down 33.98% from CNY 24,076,833.24, primarily due to declining gross margins[8] - Total operating revenue for Q1 2023 was CNY 3,896,695,218.44, a decrease of 1.3% compared to CNY 3,948,414,845.60 in Q1 2022[21] - Net profit for Q1 2023 was CNY 15,894,775.31, a decline of 33.9% from CNY 24,076,833.24 in Q1 2022[22] - The company's gross profit margin for Q1 2023 was approximately 1.3%, compared to 1.4% in Q1 2022[21] - Basic earnings per share for Q1 2023 were CNY 0.03, down from CNY 0.04 in the previous year[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 1,505,166,220.06, a decline of 43.47% compared to negative CNY 1,049,082,322.02 in the previous year[5] - Cash received from sales of goods and services in Q1 2023 was CNY 3,706,285,902.08, a decrease of 16.0% from CNY 4,411,722,802.79 in Q1 2022[24] - The net cash flow from operating activities for Q1 2023 was -1,505,166,220.06 CNY, compared to -1,049,082,322.02 CNY in Q1 2022, indicating a decline in operational cash flow[25] - The total cash and cash equivalents at the end of Q1 2023 stood at 624,828,449.92 CNY, down from 966,218,978.65 CNY at the end of Q1 2022[26] - The net increase in cash and cash equivalents for Q1 2023 was 32,815,467.90 CNY, compared to 91,788,859.75 CNY in Q1 2022, showing a decline in cash generation[26] Assets and Liabilities - Total assets increased by 28.27% to CNY 8,521,889,280.32 from CNY 6,643,463,883.23 at the end of the previous year[5] - Total liabilities as of the end of Q1 2023 amounted to CNY 7,065,906,406.78, an increase from CNY 5,203,245,629.72 in the previous year[21] - Total equity attributable to shareholders of the parent company was CNY 1,175,151,126.53, slightly up from CNY 1,163,702,698.91 in Q1 2022[21] Operational Metrics - Accounts receivable rose by 230.39% to CNY 540,506,040.41, attributed to seasonal business peaks and delayed customer payments[8] - Inventory increased by 48.30% to CNY 3,231,764,254.35, reflecting proactive stockpiling during the seasonal peak[8] - Short-term borrowings surged by 377.71% to CNY 1,959,717,271.21 due to increased funding needs during the peak season[8] - Total operating costs for Q1 2023 were CNY 3,844,252,229.63, down from CNY 3,900,621,158.39 in the same period last year, reflecting a reduction of 1.4%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 47,310[12] - Guangdong Supply and Marketing Group Co., Ltd. holds 30.25% of shares, totaling 105,140,000 shares[12] - The top ten shareholders include several investment funds, with Shenzhen Yueke Xintai holding 2.63% of shares, totaling 9,151,549 shares[12] Investment and Development - The company has established 43 county-level agricultural service companies as of March 31, 2023, with plans to set up a total of 100[14] - Guangdong Jiayu Chemical Co., Ltd. completed a capital increase of ¥26,195,000, enhancing its operational capacity[15] - The company plans to invest no less than ¥198,000 in each county-level agricultural service company it establishes[14] Expenses - Management expenses decreased by 32.39% to CNY 58,439,593.84, indicating improved cost management[8] - The company reported a decrease in research and development expenses to CNY 393,471.72 from CNY 501,579.87 year-over-year[21] - The company experienced a significant increase in financial expenses, with interest expenses rising to CNY 9,626,661.67 from CNY 12,836,665.53 in the previous year[21]