[一季报]贝泰妮(300957):云南贝泰妮生物科技集团股份有限公司2024年第一季度报告_英文版
原标题:贝泰妮:云南贝泰妮生物科技集团股份有限公司2024年第一季度报告_英文版 Stock Code: 300957 Stock Name: Botanee Announcement No.: 2024-012 Yunnan Botanee Bio-Technology Group Co., Ltd. Quarterly Report 2024 Q1 The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate and complete without false record, misleading statement or major omission.Notices: 1. The Board of Directors and Board of Supervisors, as well as directors, supervisors and senior management of the Company guarantee that the present quarterly report is true, accurate and complete without false record, misleading statement or major omission, and undertake the joint and several legal liabilities. 2. Botanee’s legal representative Mr. Guo Zhenyu, CFO Mr. Wang Long, and Head of Accounting Department Mr. Liu Zhaofeng hereby declare that the financial statements herein are true, accurate, and complete. 3. Whether Q1 report has been audited □Yes ?No I. Key Financial Data (i) Major Accounting Data and Financial Indicators Whether the Company needs to retrospectively adjust or restate the accounting data for the previous years □Yes ?No
Whether the Company’s share capital has changed and affected the amount of shareholders’ equity due to new issues, additional issues, rights issues, stock ownership incentive exercise, buybacks and other reasons from the end of the reporting period to the disclosure date of the quarterly report ?Yes ?No
? Applicable □ N/A
There is no other profit or loss conforming to the definition of non-recurring profit or loss Explanation on defining the non-recurring profits and losses set out in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Securities to the Public - Non-Recurring Profit or Loss as recurring profits and losses □ Applicable ? N/A There is no non-recurring profits and losses set out in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Securities to the Public - Non-Recurring Profit or Loss as recurring profits and losses (iii) Changes in Major Accounting Data and Financial Indicators and Reasons ? Applicable □ N/A 1. Changes in the Items of Consolidated Balance Sheet at the End of the Reporting Period and Reasons
Reasons for Changes: (1) The balance of monetary resources at the end of the reporting period stood at CNY1,343,444,200, a decrease of CNY748,015,600 or about 35.77% compared with the beginning of the year. For changes in major cash flow of the Company’s monetary resources during the reporting period, please refer to 3. Changes in Consolidated Statements of Cash Flow from the Beginning of the Year to the End of the Reporting Period and Reasons of this Report. (2) The total balance of trading financial assets at the end of the reporting period stood at CNY1,610,799,100, an increase of CNY372,442,400 or about 30.08% compared with the beginning of the year, mainly due to the increased immature investment balance of cash management projects (managed by third parties with the Company’s authorization and measured at fair value) with available funds raised and its own funds within the quota authorized by the general meeting of shareholders at the end of the reporting period. (3) There was no balance of notes receivable at the end of the reporting period, a significant decrease compared with the beginning of the year, mainly due to the mature commercial acceptance held by the Company during the reporting period and the full recovery of relevant receivables. (4) The balance of receivables financing at the end of the reporting period stood at CNY137,531,800, a decrease of CNY19,127,500 or about 12.21% compared with the beginning of the year, mainly due to the Company’s bill planning through various means such as acceptance at maturity, advance discount or endorsement transfer according to dynamic capital demands, and the decreased balance of available bank acceptance at the end of the reporting period. (5) The balance of prepayments at the end of the reporting period stood at CNY142,355,800, an increase of CNY73,076,600 compared with the beginning of the year or about 105.48%. The prepayments were mainly top-ups for promoting online stores on large B2C e-commerce platforms for marketing plans such as live streaming and advertising and production plans on the supply chain in the second quarter of 2024, marketing fees charged by marketing service providers and some core raw materials and materials purchased by OEM service providers. At the end of the reporting period, the Company had a big balance of prepayments, which was consistent with the Company’s production, marketing and sales models and cycles. The Company’s major expenses, major suppliers and the proportion of prepayments to total assets at the end of the first quarter of 2024 did not change significantly compared with the end of the same period of the previous year. At the end of the reporting period, there were no associated parties of the Company among those who the Company had to make prepayments to. There was no fund misappropriation or illegal provision of financial assistance by an associated party. At the end of the reporting period, the Company’s prepayment ratio within one year was about 99.01%. These prepayments are expected to be written off within the next 12 months. (6) The balance of other receivables at the end of the reporting period stood at CNY32,793,200, an increase of CNY3,044,800 or about 10.24% compared with the beginning of the year, mainly due to the increased rental deposit for logistics stores paid by the Company during the reporting period. (7) The balance of other liquid assets at the end of the reporting period stood at CNY394,885,400, a decrease of CNY51,510,800 or about 11.54% compared with the beginning of the year, mainly due to the decrease in the Company’s outstanding VAT credits and VAT reductions to be verified and deducted at the end of the reporting period. (8) The balance of projects under construction at the end of the reporting period stood at CNY17,926,800, a decrease of CNY22,293,300 or about 55.43% compared with the beginning of the year, mainly due to the transfer of the freeze-dried mask production line project of the new base of the Company’s central factory to fixed assets after passing the check for acceptance during the reporting period. This project only uses the Company’s own funds and will increase the Company’s self-production capacity of patch masks after being put into production. (9) The balance of the right-of-use assets at the end of the reporting period stood at CNY138,735,200, an increase of CNY38,022,600 or about 37.75% compared with the beginning of the year, mainly due to the increase in the Company’s current lease contracts for business premises during the reporting period. These business premises rented by the Company were mainly for production, R&D, storage and office purposes at the end of the reporting period. (10) The balance of deferred income tax assets at the end of the reporting period stood at CNY105,499,900, an increase of CNY12,368,700 or about 13.28% compared with the beginning of the year, mainly due to the increased deductible temporary differences in the Company’s lease liabilities, equity incentive expenses and deductible losses at the end of the reporting period. (11) The balance of short-term loans at the end of the reporting period stood at CNY169,222,600, an increase of CNY65,406,000 or about 63.00% compared with the beginning of the year, mainly due to a big increase in short-term financial loans for liquid capital issued by commercial banks during the reporting period. (12) The balance of notes payable at the end of the reporting period stood at CNY29,733,800, a decrease of CNY37,828,900 or about 55.99% compared with the beginning of the year, mainly due to the decrease in the remaining immature bank acceptance payable at the end of the reporting period. At the end of the reporting period, the Company had no notes payable due or unaccepted. (13) The balance of accounts payable at the end of the reporting period stood at CNY112,449,300, a decrease of CNY221,921,300 or about 66.37% compared with the beginning of the year, mainly due to the Company’s payments for production materials and productive services as scheduled. During the reporting period, the Company had no overdue payments due to suppliers. (14) The balance of salary payable to employees at the end of the reporting period stood at CNY68,560,200, a decrease of CNY37,892,600 or about 35.60% compared with the beginning of the year, mainly due to the Company’s payment for the year-end one-time bonus to employees for the year 2023 during the reporting period. (15) The balance of taxes payable at the end of the reporting period stood at CNY72,435,000, a decrease of CNY59,682,800 or about 45.17% compared with the beginning of the year, mainly due to the Company’s payment for various taxes payable preliminarily calculated by the Company at the beginning of the reporting period. (16) The balance of other payables at the end of the reporting period stood at CNY176,049,500, a decrease of CNY273,232,700 or about 60.82% compared with the beginning of the year, mainly due to the Company’s payment for the marketing fees charged by large B2C e-commerce platforms and other marketing service providers accrued in the fourth quarter of 2023, and for engineering equipment for the new base of the central factory and other engineering projects as scheduled, and shorter cycles of other balances payable. At the end of the reporting period, the Company’s other balances payable were small, consistent with the Company’s marketing and sales models and cycles. The Company’s major expenses, major suppliers and the proportion of other payables to total assets at the end of the first quarter of 2024 did not change significantly compared with the end of the same period of the previous year. At the end of the reporting period, there were no associated parties of the Company among those who the Company had to make prepayments to. There was no fund misappropriation or illegal provision of financial assistance by an associated party. (17) The balance of other liquid liabilities at the end of the reporting period stood at CNY8,595,000, an increase of CNY3,139,600 or about 57.55% compared with the beginning of the year, mainly due to the increased balance of returns payable accrued by the Company at the end of the reporting period. (18) The balance of long-term loans at the end of the reporting period stood at CNY857,100, a decrease of CNY3,842,900 compared with the beginning of the year. This big decrease was mainly due to the Company’s repayment of the principal of long-term financial loans from commercial banks at the end of the reporting period according to dynamic capital demands. (19) The total balance of lease liabilities and non-liquid liabilities due within one year at the end of the reporting period stood at CNY137,147,000, an increase of CNY31,761,200 or about 30.14% compared with the beginning of the year, mainly due to the increase in the Company’s current lease contracts for business premises at the end of the reporting period. These business premises rented by the Company were mainly for production, R&D, storage and office purposes at the end of the reporting period. The total balance of lease liabilities and non-liquid liabilities due within one year at the end of the reporting period was basically consistent with the changes in the balance of right-of-use assets at the end of the reporting period. (20) The balance of treasury shares at the end of the reporting period stood at CNY200,212,200, an increase of CNY90,374,000 or about 82.28% compared with the beginning of the year, mainly due to the increase in the Company’s ordinary shares repurchased with its own funds through call auction in accordance with the resolution of the Board of Directors during the reporting period. For details, please refer to the Announcement by Yunnan Botanee Bio-Technology Group Co., Ltd. on the Progress of Share Repurchase (2024-009) disclosed on cninfo’s website (http://www.cninfo.com.cn).。 2. Changes in the Items of Consolidated Income Statement from the Beginning of the Year to the End of the Reporting Period and Reasons Unit: CNY
Reasons for Changes: (1) The Company’s operating revenue from the beginning of the year to the end of the reporting period stood at CNY1,096,940,600, an increase of CNY233,633,600 or about 27.06% compared with the same period of the previous year, mainly due to the further improvement of the Company’s products and brand awareness from the beginning of the year to the end of the reporting period, which led to bigger sales scale and higher sales revenue. These figures included the sales revenue of Za and PURE&MILD, which the Company successfully acquired on October 31, 2023. Taking into consideration only the brands included during the last reporting period, the Company’s operating revenue stood at about CNY959,395,100 from the beginning of the year to the end of the reporting period, an increase of about 11.13%. (2) The Company’s operating costs from the beginning of the year to the end of the reporting period stood at CNY306,201,900, an increase of CNY99,921,900 or about 48.44% compared with the same period of the previous year, mainly due to the increased operating costs as the Company’s sales scale and sales revenue rose. These figures included the marketing costs of Za and PURE&MILD, which the Company successfully acquired on October 31, 2023. Taking into consideration only the brands included during the last reporting period, the Company’s operating costs stood at about CNY247,494,900 from the beginning of the year to the end of the reporting period, an increase of about 19.98%. The gross profit margin on sales was about 74.20%. The growth of the Company’s operating costs basically matched the growth of the sales scale, and the production costs were basically stable. From the beginning of the year to the end of the reporting period, the growth rate of operating costs was slightly higher than that of operating revenue, mainly due to the dynamic adjustments of the Company’s promotion policies and product portfolios according to the market. (3) The Company’s tax and additional tax from the beginning of the year to the end of the reporting period stood at CNY8,603,100, an increase of CNY813,000 or about 10.44% compared with the same period of the previous year, mainly due to the increased tax and additional tax as the Company’s sales scale and sales revenue rose. The growth rate of the Company’s tax and additional tax from the beginning of the year to the end of the reporting period was lower than that of the sales revenue, mainly due to the decreased input VAT plus tax credits and the decreased taxable sales revenue for consumption tax during the reporting period. (4) The Company’s marketing expenses from the beginning of the year to the end of the reporting period stood at CNY512,649,800, an increase of CNY101,711,600 or about 24.75% compared with the same period of the previous year, mainly due to the continuously increased investment in brand image promotion and communication, human resources and storage as the Company’s sales scale and sales revenue rose. The growth of the Company’s marketing expenses basically matched that of the sales scale. (5) The Company’s administration expenses from the beginning of the year to the end of the reporting period stood at CNY75,651,200, an increase of CNY9,019,600 or about 13.54% compared with the same period of the previous year, mainly due to the increased salary of managerial staff, equity incentive costs and other administrative expenses as the Company scaled up. The growth rate of the Company’s administration expenses from the beginning of the year to the end of the reporting period was lower than that of the sales scale, mainly due to the effective cost reduction and efficiency improvement measures for administrative functions and back-stage management expenses implemented by the Company during the reporting period. (6) The Company’s other incomes from the beginning of the year to the end of the reporting period stood at CNY7,985,400, an increase of CNY3,159,400 or about 65.47% compared with the same period of the previous year, mainly due to the increased tax credits of input VAT and the increased revenue-related government subsidies for the Company compared with the same period of the previous year from the beginning of the year to the end of the reporting period. (7) The Company’s investment income from the beginning of the year to the end of the reporting period stood at CNY10,575,700, an increase of CNY4,886,900 or about 85.91% compared with the same period of the previous year. This big increase was mainly due to the increased maturity yield generated by the Company’s cash management projects (managed by third parties with the Company’s authorization and measured at fair value) from the beginning of the year to the end of the reporting period. (8) The Company’s net income from changes in fair value from the beginning of the year to the end of the reporting period stood at CNY12,444,800, a decrease of CNY19,007,200 or about 60.43% compared with the same period of the previous year, mainly due to the decreased fair value fluctuations of the cash management projects (managed by third parties with the Company’s authorization and measured at fair value) compared with the same period of the previous year during the reporting period. (9) The Company’s net losses from credit impairment from the beginning of the year to the end of the reporting period stood at CNY752,600, a decrease of CNY1,986,100 compared with the same period of the previous year. This big decrease was mainly due to the decreased provision for receivables impairment during the reporting period. During the reporting period, there were no changes in the Company’s accounting policies and accounting estimates for the provision for receivables impairment. (10) The Company’s net income from asset impairment from the beginning of the year to the end of the reporting period stood at CNY1,521,900, mainly due to the net write-back of the Company’s provision for inventory impairment. During the reporting period, there were no changes in the Company’s accounting policies and accounting estimates for the provision for inventory impairment. (11) The Company’s asset disposal income from the beginning of the year to the end of the reporting period stood at CNY3,159,500, an increase of CNY2,440,600 compared with the same period of the previous year. This big year-on-year increase was mainly due to the early termination of lease contracts and the cancellation of right-of-use assets during the reporting period. (12) The Company’s income tax from the beginning of the year to the end of the reporting period stood at CNY22,507,600, an increase of CNY3,553,600 or about 18.75% compared with the same period of the previous year, mainly due to the increased corporate income tax as the sales scale and total profits increased. 3. Changes in the Items of Consolidated Statement of Cash Flow from the Beginning of the Year to the End of the Reporting Period and Reasons Unit: CNY
Reasons for Changes: (1) The Company’s cash inflow from business operations from the beginning of the year to the end of the reporting period stood at CNY1,289,100,700, an increase of CNY332,589,600 or about 34.77% compared with the same period of the previous year, mainly due to the increased cash inflow brought by the rapid growth of the Company’s sales scale and sales revenue. From the beginning of the year to the end of the reporting period, the growth of cash inflow from business operations basically matched that of the sales scale. (2) The Company’s cash outflow to business operations from the beginning of the year to the end of the reporting period stood at CNY1,446,815,000, an increase of CNY293,533,200 or about 25.45% compared with the same period of the previous year, mainly due to the increase in other operating expenses incurred by brand image promotion and communication, human resources and e- commerce platforms. From the beginning of the year to the end of the reporting period, the growth of cash outflow to business operations basically matched that of the sales scale. (3) The Company’s cash inflow from investment activities from the beginning of the year to the end of the reporting period stood at CNY681,304,100, a decrease of CNY381,082,000 or about 35.87% compared with the same period of the previous year, mainly due to the immaturity of major cash management projects managed by third parties with the Company’s authorization at the end of the reporting period. (4) The Company’s cash outflow to investment activities from the beginning of the year to the end of the reporting period stood at CNY1,112,435,800, a decrease of CNY567,388,600 or about 33.78% compared with the same period of the previous year, mainly due to the immaturity of major cash management projects managed by third parties with the Company’s authorization and decreased investment in cash management projects with available funds raised and its own funds within the smaller quota authorized by the general meeting of shareholders from the beginning of the year to the end of the reporting period. (5) The Company’s cash inflow from financing activities from the beginning of the year to the end of the reporting period stood at CNY69,222,600, mainly due to the cash of short-term financial loans received from commercial banks for liquid capital during the reporting period. (6) The Company’s cash outflow to financing activities from the beginning of the year to the end of the reporting period stood at CNY225,882,000, an increase of CNY204,273,000 compared with the same period of the previous year, mainly because the Company repurchased its ordinary shares with its own funds through call auction according to the resolution of the Board of Directors and repaid the principal and interest of long-term and short-term financial loans to commercial banks according to dynamic capital demands. II. Shareholder Information (i) Total Number of Ordinary Shareholders and the Number of Preferred Shareholders Whose Voting Rights Have Been Restored and Shareholding of Top 10 Shareholders Unit: Share
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