圣农发展(002299) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was ¥4,214,982,397.45, a decrease of 7.10% compared to ¥4,537,238,745.36 in the same period last year[3] - The net profit attributable to shareholders was -¥61,923,676.75, representing a decline of 169.23% from ¥89,448,233.24 year-on-year[3] - Net profit for Q1 2024 was a loss of CNY 71,212,377.85, compared to a profit of CNY 86,335,365.09 in Q1 2023, indicating a significant decline[20] - The total comprehensive income attributable to the parent company was -61,923,321.37 CNY, compared to 89,429,522.35 CNY in the previous period[21] - Basic and diluted earnings per share were both -0.0502 CNY, down from 0.0726 CNY and 0.0725 CNY respectively in the previous period[21] Cash Flow - The net cash flow from operating activities was ¥346,881,122.96, down 6.94% from ¥372,762,148.13 in the previous year[3] - Cash inflow from operating activities totaled 4,604,293,284.18 CNY, a decrease from 4,733,606,869.56 CNY in the previous period[22] - The company reported a decrease in cash received from sales of goods and services to 4,550,054,810.68 CNY from 4,707,849,201.46 CNY in the previous period[22] - Net cash flow from financing activities increased by 33.13% to ¥140,000,000.00, mainly due to higher net inflows from debt financing[10] - Cash inflow from financing activities was 3,425,545,431.77 CNY, an increase from 2,168,350,372.06 CNY in the previous period[23] - Net cash flow from financing activities was 1,403,972,508.55 CNY, up from 1,054,624,251.10 CNY in the previous period[23] Assets and Liabilities - The company's total assets increased by 4.22% to ¥23,462,440,249.60 from ¥22,512,731,712.88 at the end of the previous year[3] - The asset-liability ratio at the end of the reporting period was 56.28%, an increase of 2.14 percentage points from the beginning of the year[11] - Current liabilities rose to CNY 11,678,835,746.57, an increase of 9.9% from CNY 10,619,238,830.71[18] - Non-current liabilities totaled CNY 1,526,507,787.86, a decrease of 2.7% from CNY 1,569,113,394.12[18] - The company's equity attributable to shareholders decreased to CNY 10,252,324,890.47 from CNY 10,308,123,149.43, a decline of 0.5%[18] Operational Efficiency - The annual turnover of accounts receivable increased by 1.42 times to 20.57 times, indicating effective control over receivables[12] - The inventory turnover rate decreased by 0.53 times to 4.78 times, reflecting strong inventory management capabilities[12] - The company achieved a 14.44% increase in food sales volume, contributing approximately 7 million RMB to the net profit attributable to shareholders[12] - The company reported a significant increase in asset impairment losses by 166.30% due to declining chicken prices[9] Expenses - Sales expenses rose by 30.08% to ¥14,000,000.00, driven by increased marketing efforts for the company's own brand[9] - The company's feed costs decreased by 14.50%, but this was not sufficient to offset the impact of falling chicken prices[12] - Research and development expenses for Q1 2024 were CNY 21,037,319.79, slightly down from CNY 23,539,832.49 in the previous year[19] Government Support - The company received government subsidies amounting to ¥3,518,600.00, which positively impacted its financial performance[4] Future Plans - The company plans to continue enhancing the production performance of its self-developed breeding chickens and increase deep processing of chicken products[12]