荃银高科(300087) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 672,962,046.88, representing an increase of 8.99% compared to CNY 617,457,763.96 in the same period last year[4] - Net profit attributable to shareholders decreased by 43.34% to CNY 17,744,469.19 from CNY 31,317,074.01 year-on-year[4] - The company achieved operating revenue of RMB 672.96 million, an increase of 8.99% compared to the same period last year[14] - The net profit attributable to shareholders decreased by 43.34% to RMB 17.74 million, impacted by lower sales volume of corn seeds[14] - The net profit for Q1 2024 was CNY 16,766,262.77, a decrease of 55.32% compared to CNY 37,588,549.11 in Q1 2023[22] - The company reported a total comprehensive income of CNY 13,433,456.86 for Q1 2024, significantly lower than CNY 37,443,272.60 in Q1 2023[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 633,233,782.96, a significant decline of 4,604.49% compared to negative CNY 13,460,206.30 in the previous year[4] - Cash and cash equivalents decreased by 83.43% to negative CNY 386,974,789.26 from negative CNY 210,965,610.38 in the previous year[9] - The cash flow from operating activities showed a net outflow of CNY -633,233,782.96, compared to a net outflow of CNY -13,460,206.30 in the same period last year[25] - The cash and cash equivalents at the end of the period were CNY 1,095,772,783.15, a decrease from CNY 1,119,567,496.63 at the end of Q1 2023[25] Assets and Liabilities - The total assets at the end of Q1 2024 were CNY 6,211,013,979.99, down 7.43% from CNY 6,709,796,938.68 at the end of the previous year[4] - Total liabilities decreased to CNY 3,606,456,029.32 from CNY 4,127,291,020.91, a reduction of 12.6%[20] - Current assets totaled CNY 4,531,066,719.04, down from CNY 5,025,088,187.63, indicating a decline of 9.8%[17] - Accounts receivable increased to CNY 633,843,487.41 from CNY 555,943,859.57, representing a growth of 13.9%[17] - Inventory decreased to CNY 2,074,531,786.07 from CNY 2,358,192,250.73, a reduction of 12.0%[17] Expenses and Costs - The company reported a 66.43% increase in financial expenses, amounting to CNY 12,686,107.69, primarily due to increased borrowing costs compared to CNY 7,622,649.29 in the same period last year[8] - Total operating costs for Q1 2024 were CNY 671,366,355.54, up from CNY 581,766,004.85, reflecting a year-over-year increase of 15.4%[21] - The company incurred operating expenses of CNY 1,052,156,801.16, which is an increase from CNY 540,491,427.54 in the previous year[25] - The company reported R&D expenses of CNY 16,869,173.82, slightly up from CNY 16,579,534.20, indicating continued investment in innovation[21] Shareholder Information - The total number of common shareholders at the end of the reporting period was 44,593, with no preferred shareholders[10] - The largest shareholder, China Seed Group Co., Ltd., holds 20.51% of the shares, totaling 194,294,026 shares[10] - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Jia Guilan, owning 6.92%[10] - The company has a total of 51,426,685 restricted shares, with several executives having their shares locked due to management restrictions[13] - The company has no preferred shareholders and all top ten shareholders are common stockholders[10] Strategic Initiatives - The company plans to extend the implementation deadlines for its fundraising projects, with the "R&D Innovation System Construction Project" now set for June 30, 2025, and the "Integrated Overseas Breeding and Propagation Project" for December 31, 2025[16] - The company is focusing on enhancing its R&D capabilities and expanding its market presence through overseas projects[16] Market Performance - The company reported a decrease in corn seed shipment progress, which affected profit margins despite increased revenue from seed exports[14] - Gross profit margin for Q1 2024 was approximately 0.24%, down from the previous year's margin due to rising costs[21]