雪榕生物(300511) - 2021 Q1 - 季度财报(更正)

Financial Performance - The company's revenue for Q1 2021 was ¥566,499,913.52, a decrease of 5.72% compared to ¥600,852,768.17 in the same period last year[8] - Net profit attributable to shareholders was ¥101,367,147.34, down 40.30% from ¥169,805,933.35 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥84,346,680.30, reflecting a 51.98% decline from ¥175,658,147.06 in the previous year[8] - Basic earnings per share decreased by 40.00% to ¥0.24 from ¥0.40 in the previous year[8] - Diluted earnings per share fell by 45.00% to ¥0.22, down from ¥0.40 year-on-year[8] - The weighted average return on equity was 4.90%, down 4.40% from 9.30% in the same period last year[8] - The total comprehensive income for Q1 2021 was CNY 93,107,824.21, a decrease of 42.55% from CNY 162,024,727.12 in Q1 2020[52] - The operating profit for Q1 2021 was CNY 88,914,090.49, down 47.36% from CNY 168,939,525.68 in the same period last year[54] Cash Flow and Assets - The net cash flow from operating activities was ¥94,171,489.26, a significant drop of 55.16% compared to ¥210,012,722.59 in the same quarter last year[8] - Cash and cash equivalents decreased by 40.50% to 452.10 million yuan, primarily due to loan repayments and funding for investment projects[18] - The company's cash flow from operating activities for Q1 2021 was CNY 94,171,489.26, a significant decrease of 55.19% compared to CNY 210,012,722.59 in Q1 2020[59] - Total assets at the end of the reporting period were ¥4,523,132,192.42, a slight decrease of 0.54% from ¥4,547,783,435.53 at the end of the previous year[8] - Total cash and cash equivalents at the end of the period amounted to 455,792,498.39 CNY, down from 510,734,470.23 CNY in the previous period[60] Expenses and Costs - Total operating costs increased to CNY 497,618,778.68 from CNY 434,113,698.18, with operating costs specifically rising to CNY 432,067,920.20 from CNY 368,984,797.21[50] - Research and development expenses increased by 58.03% to 47.59 million yuan, reflecting higher investment in R&D activities[18] - The financial expenses for Q1 2021 were CNY 10,871,686.12, which is a significant increase compared to CNY 4,819,068.21 in Q1 2020[54] - The company reported a decrease in sales expenses to CNY 3,618,995.52 from CNY 5,186,929.58 in the previous year, reflecting a reduction of 30.29%[54] Market and Competition - The company anticipates intensified market competition leading to potential price declines in its products, prompting a strategy to enhance marketing efforts and brand recognition[20][21] - The company faces risks of declining gross margin and profits due to increased competition in the domestic edible mushroom market and potential underperformance of its overseas production base in Thailand[23] Investments and Projects - The company established a joint venture, Shanghai Rongshang Food Co., Ltd., with a 60% ownership stake, to enhance its market presence[27] - The project for the Thai edible mushroom factory has not yet commenced, with no funds allocated to it so far[31] - The company has achieved 62.93% of the investment progress for the Dezhou daily production project, with 6.67 million RMB invested out of 25 million RMB planned[31] Regulatory Compliance - The company received approval from the China Securities Regulatory Commission for a specific stock issuance, indicating compliance with regulatory requirements[28] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[35] - There were no violations regarding external guarantees during the reporting period[34] Risks and Challenges - Seasonal fluctuations in sales prices and profits are expected, with the first and fourth quarters typically yielding higher prices due to increased demand[22] - The main raw materials, including rice bran and corn husks, are subject to quality and price fluctuations, which could adversely affect the company's gross margin if not managed effectively[24] - Despite a controlled cultivation model ensuring food safety, there are still risks of contamination during raw material procurement and inventory management[26] - The expansion of production capacity and business scale may lead to management risks, prompting the company to implement a partner mechanism to enhance management efficiency[25]