*ST佳沃(300268) - 2022 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2022 reached ¥1,599,943,970.21, representing a 39.14% increase year-over-year[4] - The net profit attributable to shareholders was a loss of ¥67,995,573.13, a decrease of 323.52% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥67,230,025.83, down 316.90% year-over-year[4] - The company reported a significant increase in investment income of 92,262% year-over-year, attributed to increased investment income from joint ventures[8] - The overall revenue growth in Q3 2022 was driven by increased sales prices and volumes, despite a price correction in the salmon market due to seasonal factors[15] - The company faced significant cost pressures in Q3 2022, with feed procurement prices reaching historical highs due to rising prices of grains and oils[15] - The fair value change loss for Q3 2022 was -17,621.47 million RMB, a significant decline compared to -4,287.93 million RMB in Q3 2021, marking a -311% change year-over-year[24] - The company reported a foreign exchange loss of approximately 720.93 thousand RMB in Q3 2022, a significant decline of 116% year-over-year[37] - Interest expenses for the first three quarters of 2022 totaled approximately 27.63 million RMB, influenced by rising floating interest rates on USD borrowings[40] - The total comprehensive income for the third quarter was CNY 358,646,520.88, a decrease of 122,896,138.13 compared to the previous period[50] Assets and Equity - Total assets at the end of the reporting period were ¥13,064,259,020.66, an increase of 15.61% from the end of the previous year[4] - The company's equity attributable to shareholders increased by 44.86% to ¥914,307,240.11 compared to the end of the previous year[4] - The company's total assets increased to CNY 13,064,259,020.66, compared to CNY 11,300,420,797.67 at the end of the previous year, reflecting a growth of 15.6%[46] - The total equity attributable to shareholders of the parent company increased to CNY 914,307,240.11 from CNY 631,173,109.33, marking a growth of 45.0%[46] Cash Flow - Cash flow from operating activities for the year-to-date was ¥379,390,250.94, up 22.42%[4] - The net cash flow from operating activities was CNY 379,390,250.94, an increase from CNY 309,897,669.73 in the previous period[52] - The cash flow from financing activities resulted in a net outflow of CNY 76,037,222.87, compared to a net inflow of CNY 38,892,333.41 in the previous period[52] - The cash inflow from financing activities was CNY 1,380,160,078.12, while cash outflow was CNY 1,456,197,300.99[52] - The company reported a total operating cash inflow of CNY 4,608,019,554.76, an increase from CNY 4,127,297,360.35 in the previous period[52] - The cash flow from investment activities showed a net outflow of CNY 352,228,290.58, compared to a net outflow of CNY 346,789,566.44 in the previous period[52] Sales and Production - Australis, a subsidiary, achieved revenue of RMB 1.332 billion in Q3 2022, a 70% year-on-year increase, and an operating profit of RMB 183 million, up 42% year-on-year[14] - For the first three quarters of 2022, Australis reported revenue of RMB 3.016 billion, a 30% increase year-on-year, and a net profit of RMB 320 million, up 348% year-on-year[14] - The total harvest volume in Q3 2022 reached 32,752 tons WFE, representing a 119% increase from 14,941 tons WFE in Q3 2021[27] - The sales volume in Q3 2022 was 26,967 tons WFE, a 45% increase compared to 18,644 tons WFE in Q3 2021[17] - The Atlantic salmon harvest in Q3 2022 was 30,314 tons WFE, up 103% from 14,941 tons WFE in Q3 2021[27] - The company harvested 70,914 tons WFE in the first three quarters of 2022, a 17% increase from 60,626 tons WFE in the same period of 2021[28] - Total sales volume for the first three quarters of 2022 was 62,899 tons WFE, a 3% decrease from 64,601 tons WFE in the same period of 2021[30] Market and Brand Development - The domestic salmon business strengthened collaboration with Australis, resulting in a significant year-on-year increase in sales volume in the Chinese market[16] - The company expanded its market presence through various channels, including the "Jiawo Fresh" seafood retail brand and the "Chuan Xiong Tong Xue" children's nutrition brand[16] - The company’s overall brand influence continued to grow, with various business segments achieving different levels of growth[16] - The average sales price for salmon remained higher than the previous year despite a quarter-over-quarter decline due to market price adjustments[21] - The average selling price of Atlantic Salmon in Q3 2022 was $7.03 per kg WFE, slightly down from $7.04 in Q3 2021 but higher than $6.40 in Q3 2020[31] Costs and Expenses - Total operating costs amounted to CNY 3,895,619,545.28, up 8.1% from CNY 3,604,231,071.57 year-on-year[48] - The company reported a significant increase in sales expenses, which reached CNY 182,079,310.22, up 57.0% from CNY 115,832,050.95 in the previous year[49] - The cost of goods sold for Atlantic Salmon in Q3 2022 was $4.50 per kg WFE, up from $3.76 in Q3 2021, primarily due to rising feed costs and inflationary pressures[33] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,632[10] - The top shareholder, Jiawo Group Co., Ltd., holds 46.08% of shares, amounting to 80,265,919 shares, with 40,200,000 shares pledged[10] Future Outlook - The company aims to enhance its market presence and explore new product development strategies to drive future growth[49] - The harvesting weight for Q4 2022 is projected to be 28,556 tons WFE, contributing to an estimated total of 99,470 tons WFE for the entire year, a 9.14% increase from initial plans[35] - Research and development expenses were not detailed, indicating a potential area for future investment focus[49]