神农科技(300189) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥73,861,433.86, representing a 47.08% increase compared to ¥50,218,955.49 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥13,867,177.58, a decrease of 128.79% from ¥48,167,180.72 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥26,538,147.44, down 165.47% from ¥40,537,026.31 in the same period last year[18]. - The net cash flow from operating activities was -¥3,802,293.17, a decline of 46.93% compared to -¥2,587,878.65 in the previous year[18]. - The basic earnings per share were -¥0.0135, a decrease of 128.72% from ¥0.047 in the same period last year[18]. - The company reported a net loss of CNY 404,827,671.13, worsening from a loss of CNY 390,960,493.55 in the previous period[129]. - The company reported a negative operating profit of ¥22,436,747.37 for the first half of 2021, down from a positive operating profit of ¥46,210,503.66 in the first half of 2020[134]. - The total equity attributable to the parent company decreased by ¥13,867,177.58 during the period, primarily due to comprehensive income losses[145]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,120,769,703.44, an increase of 1.39% from ¥1,105,393,533.35 at the end of the previous year[18]. - The company's total assets included cash and cash equivalents of ¥216,469,318.64, representing 19.31% of total assets, showing a slight increase from the previous year[47]. - The company's long-term equity investments were valued at ¥227,864,334.43, accounting for 20.33% of total assets, with no significant changes noted[48]. - Total current assets as of June 30, 2021, amount to 377,026,024.75 yuan, an increase from 369,986,877.58 yuan at the end of 2020[127]. - Current liabilities rose to CNY 114,760,107.47, up from CNY 77,950,598.33, indicating an increase of approximately 47.1%[129]. - The total liabilities increased to CNY 128,242,297.97 from CNY 96,638,346.55, indicating a rise of about 32.7%[129]. Research and Development - Ongoing R&D projects include the development of high-quality rice varieties, with some projects in the acceptance stage and others nearing completion[29]. - The company is currently testing multiple new rice varieties, with characteristics such as high yield and disease resistance, in various trial stages[30]. - The company has introduced several new rice varieties, including Q香优352 and 神农优447, which have shown high yield and quality in trials[31]. - Research and development expenses surged by 1,204.36% to ¥7,223,166.40, attributed to the inclusion of Chongqing Zhongyi Agricultural Industry in the consolidated financial statements[42]. - The company is expanding its research and development efforts across various regions, including Hunan and Guizhou, to test new crop varieties and improve breeding techniques[37]. Business Operations - The main business focus is on hybrid rice seed breeding, production, sales, and technical services, positioning the company as a key player in China's seed industry[25]. - The company has established a "one-stop grain production supply chain management service" model, integrating sales with farmers and rice processing factories[27]. - The company is providing comprehensive supply chain management services to new agricultural entities, helping to reduce production costs and improve efficiency[39]. - The company is actively participating in national initiatives to enhance the seed industry and promote the development of proprietary crop varieties[33]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[3]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[3]. - The company has invested 32 million in bank wealth management products, with an outstanding balance of 42 million[53]. - The company did not engage in any entrusted loans during the reporting period[54]. - There were no significant asset sales during the reporting period[55]. Legal Matters - The company is involved in significant litigation regarding a contract dispute, with a claim for overdue payment of CNY 1,907,200 and related legal fees[84]. - The company has filed a lawsuit against a subsidiary for dissolution, which was dismissed by the court, and an appeal has been filed[87]. - The company is pursuing a legal case regarding a land transfer fee dispute, with a total claim of CNY 4.293 million[88]. - The company faced a lawsuit involving 2.6107 million yuan related to securities fraud, which was dismissed by the court[91]. - A total of 12 legal cases were reported, with 1 case concluded and 4 cases adjudicated but not yet enforced[92]. Shareholder Changes - Hunan Hongde transferred 52 million shares (5.08% of total shares) to Yang Xide at a price of RMB 4.2 per share, totaling RMB 218.4 million[106]. - After the transfer, Hunan Hongde's shareholding decreased from 16% to 10.92%, while Yang Xide became the third largest shareholder[106]. - The company plans to transfer 100% of its subsidiary Hainan Baoting Nanfan Seed Industry for no less than RMB 173 million, with a signed agreement for RMB 183 million[108]. - The company received a deposit of RMB 36.6 million, which is 20% of the total transfer price for the subsidiary[108]. - The total number of shares after the recent changes is 1,024,000,000, with 94.05% being unrestricted shares[112]. Risk Management - The company faces risks in new product development due to the long cultivation cycle of new varieties, which can take 5-8 years to market[60]. - To mitigate new product development risks, the company plans to enhance its R&D capabilities and shorten the development cycle of new varieties[61]. - The company has implemented measures to mitigate natural disaster risks, including optimizing the layout of seed production bases and enhancing the application of biotechnological breeding techniques[64]. - The seed industry in China has a low market concentration, and the company faces significant competition from foreign seed companies, necessitating breakthroughs in technology innovation and market network layout[65]. Corporate Governance - The company has no overdue commitments from actual controllers, shareholders, related parties, acquirers, or other parties as of the end of the reporting period[78]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[79]. - The company has no instances of illegal external guarantees during the reporting period[80]. - The semi-annual financial report has not been audited[81]. - The company has not reported any changes in the scope of consolidation during the reporting period[168].