2024-10-28-上交所-苏垦农发2024年第三季度报告_13页_390kb

Company Financial Performance Summary
Jiangsu Nongken Agricultural Development Co., Ltd. (证券代码：601952) reported Q3 2024 financial results showing significant declines. Key metrics include a 28.12% decrease in revenue to RMB 2,395,410,632.52, and a 35.30% drop in net profit to RMB 161,291,238.09. The decrease is primarily attributed to falling wheat prices, which narrowed profit margins and reduced sales volumes. Operating cash flow also fell by 63.69% year-over-year due to slowed wheat acquisition and sales.

Operating Highlights
Main products showed mixed results: wheat sales volume increased by 9.18% but prices dropped, impacting earnings. Other items like self-produced rice and vegetable oil saw declines, while products such as corn and some agricultural seeds experienced small increases despite overall sector challenges.

Shareholder Information
The top shareholder is Jiangsu Nongken Group with 67.84% of shares. Total shareholders numbered 45,772, and top holders include various institutional investors like the National Social Security Fund and B-share accounts, holding concentrated stakes.

Non-Recurring Items
Non-recurring income accounted for RMB 48.7 million in the year-to-date period, influenced by government grants and financial gains, but had a minor impact compared to recurring operational losses.

Overall, the company faced operational headwinds from commodity market volatility, leading to reduced profitability, with net profit declining significantly in the quarter. The board and management emphasize true and fair disclosure in annual filings.