冠农股份(600251) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,026,657,525.21, a decrease of 32.70% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 241,872,348.53, down 17.42% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 226,240,368.83, a decline of 21.05%[4] - Basic and diluted earnings per share were both CNY 0.3113, down 17.14% year-on-year[4] - In Q1 2024, the company's net profit was CNY 283,430,177.27, a decrease of 18.2% compared to CNY 346,620,293.36 in Q1 2023[19] - The total comprehensive income for Q1 2024 was CNY 282,785,781.04, down from CNY 356,318,607.41 in Q1 2023, reflecting a decline of 20.5%[20] - Basic and diluted earnings per share for Q1 2024 were CNY 0.3113, compared to CNY 0.3757 in Q1 2023, representing a decrease of 17.1%[20] Cash Flow and Assets - The net cash flow from operating activities was CNY 349,686,831.01, a decrease of 38.61% compared to the previous year[4] - Cash flow from operating activities in Q1 2024 was CNY 349,686,831.01, down 38.6% from CNY 569,648,683.57 in Q1 2023[21] - The company's cash and cash equivalents decreased to CNY 1,806,519,375.35 from CNY 1,873,327,770.71 as of December 31, 2023, a decline of 3.6%[12] - The company’s cash and cash equivalents at the end of Q1 2024 were CNY 1,453,724,728.88, up from CNY 857,500,304.38 at the end of Q1 2023[21] - Total assets at the end of the reporting period were CNY 7,302,923,282.07, a decrease of 5.63% from the end of the previous year[4] - Total assets as of March 31, 2024, were CNY 7,302,923,282.07, down from CNY 7,738,804,047.17 at the end of 2023, a decrease of 5.6%[15] Shareholder Equity and Liabilities - Shareholders' equity attributable to shareholders increased by 6.53% to CNY 3,970,499,041.66[4] - The total equity attributable to shareholders increased to CNY 3,970,499,041.66 from CNY 3,727,217,950.56, an increase of 6.5%[15] - Total liabilities decreased to CNY 3,024,633,487.71 from CNY 3,743,300,033.85, a decline of 19.2%[14] Market Conditions and Operational Insights - The decline in revenue was primarily due to weak market conditions for cotton and a decrease in sales volume of self-produced products[7] - The company reported a total of 41,477 common shareholders at the end of the reporting period[9] Costs and Expenses - Total operating costs for Q1 2024 were CNY 945,363,391.85, down 30.5% from CNY 1,358,731,927.94 in Q1 2023[18] - The company's research and development expenses increased significantly to CNY 3,232,535.23 from CNY 1,233,573.53, an increase of 162.3%[18] Accounts Receivable and Inventory - Accounts receivable increased significantly to CNY 310,535,874.01 from CNY 159,089,042.47, representing a growth of 95.3%[13] - Inventory decreased to CNY 1,818,155,825.42 from CNY 2,144,771,626.10, a reduction of 15.2%[13] Investment and Financing Activities - The company reported cash inflows from investment activities of CNY 265,837,701.20 in Q1 2024, significantly higher than CNY 106,721,146.97 in Q1 2023[21] - Cash outflows from financing activities in Q1 2024 totaled CNY 684,996,763.56, compared to CNY 1,127,789,041.48 in Q1 2023, indicating a reduction of 39.1%[21] - The investment income for Q1 2024 was CNY 197,869,227.87, an increase of 19.9% from CNY 164,719,836.83 in Q1 2023[19] Other Comprehensive Income - Other comprehensive income after tax for Q1 2024 was CNY -644,396.23, compared to CNY 9,698,314.05 in Q1 2023, indicating a significant decline[19]