Financial Performance - Revenue for the first quarter of 2024 was CNY 35,060,087.99, a decrease of 36.98% from CNY 55,634,525.90 in the same period last year[11]. - Net profit attributable to shareholders dropped by 83.71% to CNY 1,590,051.61, down from CNY 9,763,469.66 year-over-year[11]. - The gross profit margin was impacted by a significant decline in sales volume, particularly in corn seed varieties, leading to a total profit drop of 83.19%[13]. - Total operating revenue for Q1 2024 was ¥35,060,088, a decrease of 37% compared to ¥55,634,526 in Q1 2023[35]. - Net profit for Q1 2024 was ¥1,590,052, a decline of 83.8% from ¥9,763,470 in Q1 2023[37]. - The company reported an operating profit of ¥1,659,566 for Q1 2024, down 78.8% from ¥7,812,931 in Q1 2023[37]. - Total comprehensive income for Q1 2024 was ¥1,590,052, significantly lower than ¥9,763,470 in Q1 2023[37]. - The company’s total profit for Q1 2024 was ¥1,660,078, a decrease of 83.2% from ¥9,876,466 in Q1 2023[37]. Cash Flow and Liquidity - The company’s cash flow from operating activities decreased by 43.38% to CNY 35,086,734.56 compared to CNY 61,970,798.13 in the previous year[11]. - Operating cash inflow for Q1 2024 was CNY 132,879,218.51, down 26.7% from CNY 181,425,629.45 in Q1 2023[41]. - Net cash flow from operating activities decreased to CNY 35,086,734.56 in Q1 2024, compared to CNY 61,970,798.13 in Q1 2023, a decline of 43.2%[43]. - Cash and cash equivalents at the end of Q1 2024 totaled CNY 320,528,547.56, down 32.7% from CNY 476,751,582.03 at the end of Q1 2023[43]. - The company reported a net cash outflow of CNY 99,229,104.10 from financing activities in Q1 2024, compared to a net inflow of CNY 15,889,815.30 in Q1 2023[45]. - The parent company's net cash flow from operating activities was -CNY 14,184,937.95 in Q1 2024, compared to CNY 16,824,474.60 in Q1 2023[45]. - The company’s cash and cash equivalents decreased to CNY 231,376,311.61 at the end of Q1 2024 from CNY 406,537,180.08 at the end of Q1 2023[45]. Assets and Liabilities - Total assets increased by 8.72% to CNY 830,967,218.60 as of March 31, 2024, compared to CNY 764,348,367.35 at the end of 2023[11]. - Total liabilities rose to ¥285,868,746.47, up from ¥220,839,946.82, indicating a growth of about 29.4%[30]. - Current liabilities increased significantly to ¥260,332,545.65 from ¥196,873,442.84, reflecting a rise of approximately 32.2%[29]. - Non-current liabilities also grew to ¥25,536,200.82 from ¥23,966,503.98, marking an increase of about 6.5%[29]. - Shareholders' equity totaled ¥545,098,472.13, slightly up from ¥543,508,420.53, showing a marginal increase of 0.3%[30]. - The total number of ordinary shares is 165,200,000, with 43.07% being unrestricted shares and 56.93% being restricted shares[17]. - The largest shareholder, Henan Seed Industry Group, holds 44,156,000 shares, representing 26.73% of total shares[19]. Research and Development - Research and development expenses increased by 70.93% to CNY 2,713,035.61, reflecting the initiation of new projects[13]. - Research and development expenses increased to ¥2,713,036 in Q1 2024, up 70.8% from ¥1,587,230 in Q1 2023[35]. Other Financial Metrics - The weighted average return on equity decreased to 0.29% from 1.98% year-over-year[11]. - Non-recurring gains and losses totaled CNY 929,821.64 for the period, primarily from government subsidies and asset disposals[15]. - The company experienced a credit impairment loss of ¥4,051,451 in Q1 2024, compared to ¥636,919 in Q1 2023[37]. - Other income for Q1 2024 was ¥716,607, an increase of 109% from ¥340,941 in Q1 2023[35]. - Basic and diluted earnings per share for Q1 2024 were both ¥0.01, compared to ¥0.06 in Q1 2023[38].
秋乐种业(831087) - 2024 Q1 - 季度财报