Pengdu Agriculture & Animal Husbandry Co., Ltd. (stock code: 002505) is a listed company specializing in agriculture and animal husbandry. Its main business covers agricultural product planting, animal husbandry breeding, processing and sales of related products. The company has a layout in both domestic and foreign markets, especially in the Brazilian market. In the first quarter of 2024, Pengdu Agriculture & Animal Husbandry released its latest financial report data, and this article will analyze these data in detail.
From the perspective of asset-liability data, the total assets of Pengdu Agriculture & Animal Husbandry at the end of the first quarter of 2024 were 16.967 billion yuan, an increase of 9.57% over the end of the previous year's 15.484 billion yuan. This growth is mainly reflected in the increase of accounts receivable and debt investment, especially the increase of sales of agricultural materials and food receivables of Brazilian subsidiaries, which increased accounts receivable by 35.18%. On the other hand, total liabilities also increased from the end of the previous year's 10.2 billion yuan to 11.974 billion yuan, an increase of 17.38%. The asset-liability ratio increased from 65.87% to 70.57%, reflecting that the company's debt pressure is also increasing while expanding its business.
Regarding the profit data, the operating income of Pengdu Agriculture & Animal Husbandry was 3.56 billion yuan, an decrease of 28.23% year-on-year. This decline is mainly due to changes in the market environment and a decrease in sales volume. The net profit attributable to shareholders of the listed company was -116 million yuan, a decrease of 194.66% year-on-year, which shows that the company faces greater challenges in terms of profitability. After deducting non-recurring gains and losses, the net profit was -9.322 million yuan, a decrease of 122.00% year-on-year. The basic earnings per share and diluted earnings per share were both -0.0183 yuan, a decrease of 195.16% year-on-year. The weighted average return on net assets also decreased from -0.75% in the same period of the previous year to -2.63%.
Regarding the cash flow data, the net cash flow generated from operating activities was -531 million yuan, which improved compared to the -565 million yuan in the same period last year, an increase of 6.13%. The subtotal of cash inflows from operating activities was 1.928 billion yuan, a decrease of 39.13% year-on-year, while the subtotal of cash outflows was 2.458 billion yuan, a decrease of 34.16% year-on-year. Although the net cash flow has improved, it is still negative, indicating that the company still faces funding pressure in the operation process.
To sum up, Pengdu Agriculture & Animal Husbandry's financial performance in the first quarter of 2024 reflects the challenges the company faces in the changing market environment and business expansion process. Although total assets have increased, liabilities have also risen, and the asset-liability ratio has increased. The significant decline in operating income and net profit shows that the company is under pressure in terms of profitability. Although the cash flow has improved somewhat, further optimization of operating efficiency and fund management is still needed. In the future, the company needs to take more effective measures to improve sales and control costs in order to achieve more stable financial performance.