大北农(002385) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥6,706,917,768.69, a decrease of 13.76% compared to ¥7,775,457,720.55 in the same period last year[4] - The net profit attributable to shareholders was -¥209,459,753.17, an improvement of 32.16% from -¥305,343,324.11 in the previous year[4] - The net cash flow from operating activities was -¥832,883,521.44, showing a 23.70% improvement from -¥1,092,795,540.55 year-on-year[4] - The basic earnings per share for Q1 2024 was -¥0.05, an improvement of 28.57% from -¥0.07 in the same period last year[4] - The company experienced a 35.74% reduction in operating loss, with an operating profit of -¥230,354,212.69 compared to -¥358,451,926.63 last year[10] - Net loss for Q1 2024 was ¥250,266,231.97, an improvement from a net loss of ¥403,928,667.96 in Q1 2023[31] - Total comprehensive loss for Q1 2024 was ¥273,831,384.16, compared to a loss of ¥395,771,049.01 in Q1 2023[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥28,905,433,523.61, down 2.95% from ¥29,784,362,506.10 at the end of the previous year[4] - The equity attributable to shareholders decreased by 6.43% to ¥7,564,657,796.07 from ¥8,084,091,479.86[4] - The company's total liabilities decreased to ¥19.58 billion from ¥19.74 billion, a decline of approximately 0.8%[28] - Long-term equity investments decreased to RMB 2.62 billion from RMB 2.75 billion, showing a decrease of about 4.9%[27] - The company’s total current liabilities decreased to RMB 15.36 billion from RMB 15.58 billion, a reduction of about 1.4%[28] Cash Flow - The cash flow from investment activities showed a net outflow of ¥167,480,695.13, an improvement of 50.76% compared to the previous period's outflow of ¥340,124,930.73[11] - The cash received from financing activities increased by 47.79% to ¥537,178,925.37, driven by an increase in financing lease receipts[11] - The cash paid for debt repayment rose by 54.20% to ¥2,517,227,102.43, reflecting an increase in cash used for repaying maturing debts[11] - The net increase in cash and cash equivalents was a decrease of ¥1,720,966,526.81, worsening by 84.63% compared to the previous period[11] - Cash inflow from financing activities reached CNY 3,173,045,870.53, an increase from CNY 3,051,057,417.14 in the prior period[35] - The ending balance of cash and cash equivalents was CNY 2,852,421,012.07, down from CNY 4,699,900,312.59[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 237,529, with the largest shareholder holding 24.66% of the shares[12] - The largest shareholder, Shao Genhua, holds 1,014,200,026 shares, with 449,635,000 shares pledged[12] - The top ten shareholders collectively hold a significant portion of the company's shares, with the second-largest shareholder holding 1.47%[12] - The company has not disclosed any known relationships or concerted actions among the top shareholders[12] Share Repurchase and Incentive Plans - The company plans to repurchase shares using its own funds, with a total amount between RMB 80 million and RMB 100 million, at a maximum price of RMB 8.32 per share[17] - As of March 4, 2024, the company has repurchased 1,677,500 shares, accounting for 0.04% of the total share capital, with a total transaction amount of RMB 8,621,387[17] - The company approved the 2021 Restricted Stock Incentive Plan, granting 85,556,083 shares at a price of RMB 4.03 per share to 869 individuals[19] - The company decided to repurchase and cancel 400,000 shares from 7 departed incentive plan participants, representing 0.01% of the total share capital[20] - The company will repurchase and cancel 1,824,000 shares from 34 departed participants and 1 deceased participant, representing 0.0441% of the total share capital[22] - The company will cancel 23,841,325 shares due to unmet performance conditions, which is 0.58% of the total share capital, reducing total share capital from 4,136,082,853 shares to 4,112,241,528 shares[22] Legal Proceedings and Acquisitions - The company is acquiring equity in 8 feed companies under Jiangxi Zhengbang Technology Co., Ltd.[22] - The company prepaid RMB 500 million to Zhengbang Technology for the acquisition of equity in eight feed companies, but has since initiated legal proceedings due to breach of contract by Zhengbang Technology[23] - The company is actively following up on the legal proceedings related to the acquisition and will fulfill its information disclosure obligations[23] Operational Metrics - The company reported a significant increase in accounts receivable, which rose by 47.68% to ¥1,746,417,077.91, attributed to higher credit limits for reliable customers[8] - The company reported a significant increase in inventory, which rose to RMB 4.06 billion from RMB 4.00 billion, an increase of approximately 1.5%[26] - Research and development expenses were ¥139,252,423.72, slightly down from ¥143,893,817.40 in the same period last year[30] - The company recorded an investment loss of ¥29,231,422.98, which is an improvement from a loss of ¥76,835,683.39 in Q1 2023[30] - The company reported a gross profit margin of approximately -2.83% for Q1 2024, compared to -3.67% in Q1 2023[30]