天润乳业(600419) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 640,555,253.10, representing a year-on-year increase of 1.47%[2] - The net profit attributable to shareholders decreased by 91.74% to CNY 4,543,539.22, primarily due to losses from the merger with Xin Nong Dairy and increased culling of non-productive cattle[4] - Basic and diluted earnings per share both fell by 91.61% to CNY 0.0144[2] - The net profit for Q1 2024 was CNY 518,172.71, a significant decrease from CNY 57,068,784.49 in Q1 2023, reflecting a decline of approximately 99.1%[21] - Operating profit for Q1 2024 was CNY 30,550,152.44, down from CNY 67,881,696.98 in Q1 2023, representing a decrease of about 55.1%[21] - The company reported a total comprehensive income attributable to the parent company of CNY 4,543,539.22 in Q1 2024, compared to CNY 54,979,469.20 in Q1 2023, reflecting a decline of about 91.8%[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -6,264,433.81, a decline of 110.61% compared to the previous year[5] - The company's cash and cash equivalents increased to ¥557,997,580.50 as of March 31, 2024, compared to ¥510,750,737.64 at the end of 2023[16] - The cash and cash equivalents at the end of Q1 2024 were CNY 557,997,580.50, down from CNY 662,272,514.87 at the end of Q1 2023, a decrease of approximately 15.7%[27] - The total cash inflow from financing activities in Q1 2024 was CNY 439,206,532.62, compared to CNY 192,924,023.37 in Q1 2023, indicating an increase of about 128.0%[27] - The net cash flow from financing activities was -89,802,883.84, compared to -100,594,000.00 in the previous period, indicating a decrease of approximately 10.8%[37] - The ending balance of cash and cash equivalents reached 394,563,653.73, up from 324,607,388.74, representing an increase of about 21.5%[37] Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,734,809,072.44, reflecting a slight increase of 0.61% from the previous year[2] - Total liabilities increased to ¥3,081,410,955.60 from ¥3,047,282,858.57, marking a growth of 1.12%[18] - The company's equity attributable to shareholders rose to ¥2,395,413,494.44 from ¥2,390,869,955.22, reflecting a marginal increase[19] - The total assets of the company as of the latest reporting period were CNY 3,648,558,924.03, an increase from CNY 3,604,610,399.75[30] - The total liabilities increased to CNY 1,457,162,832.28 from CNY 1,411,955,178.12, reflecting a rise in financial obligations[30] Operational Highlights - The total sales volume of dairy products reached 66,300 tons in Q1 2024, representing a growth of 0.63% year-on-year[10] - The company launched several new products, including "Peach Pear Not" flavored yogurt and A2β-casein pure milk, to diversify its product matrix[11] - The company is actively expanding its market presence, particularly in the Shandong region, with promotional activities and partnerships to enhance brand recognition[10] - The company has implemented strict quality control measures, ensuring 100% compliance of products leaving the factory[11] - The company is accelerating the elimination of non-productive cattle to optimize herd structure and reduce feed costs[13] - The company conducted four training sessions for over 100 technical staff to enhance skills in feed conversion efficiency and breeding techniques[13] - The construction of the 200,000-ton dairy processing project is progressing well, with key infrastructure completed by the end of March 2024[11] Cost and Expenses - Total operating costs for Q1 2024 were ¥617,230,126.86, up 8.01% from ¥571,411,867.34 in Q1 2023[20] - Operating costs included ¥535,293,773.00 in cost of goods sold, which rose from ¥504,684,462.53 in the previous year[20] - Research and development expenses for Q1 2024 were ¥5,296,895.66, slightly up from ¥5,197,005.63 in Q1 2023[20] - The company incurred financial expenses of CNY 318,507.13 in Q1 2024, contrasting with a financial income of CNY 3,850,331.04 in Q1 2023[33]