贝泰妮(300957):YUNNAN BOTANEE BIO TECHNOLOGY GROUP 2024 Q3 QUARTERLY REPORT
原标题:贝泰妮:Yunnan Botanee Bio Technology Group 2024 Q3 Quarterly Report Stock Code: 300957 Stock Abbreviation: Botanee Announcement No.: 2024- 053 Yunnan Botanee Bio-Technology Group Co., Ltd. 2024 Q3 Quarterly Report Botanee and all members of the Board of Directors guarantee that the information disclosed herein is true, accurate and complete without false hoods, misleading statement s or major omissions.Notices: 1. Botanee’s Board of Directors, Board of Supervisors, as well as directors, supervisors and senior management officers guarantee that the present quarterly report is true, accurate and complete without false hoods, misleading statements or major omissions, and undertake individual and joint legal liabilities arising therefrom. 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 information herein is authentic, accurate, and complete. 3. Whether this Q3 report has been audited or not: □ 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 secondary public offering，placement; allotment; ESOP exercise , buybacks and other reasons from the end of the reporting period to the disclosure date of the quarterly report. ?Yes □No
?Applicable □ Not applicable
□ Applicable? Not applicable There is no other items that meet the definition of non-recurring gain s and losses in the Company. Defined non-recurring gain s and losses set out in the Explanatory Announcement on Information Disclosure by Companies Offering Securities to the Public No. 1 Non recurring Gains and Losses as recurring gain s and losses □ Applicable? Not applicable We did not define non-recurring gains and losses set out in the Explanatory Announcement on Information Disclosure by Companies Offering Securities to the Public No. 1 Non recurring Gains and Losses as recurring gains and losses. (iii) Changes in Major Accounting Data and Financial Indicators and Reasons ?Applicable □ Not applicable 1. Changes in the Items of Consolidated Balance Sheet at the End of the Reporting Period and Reasons Currency: RMB
Reasons for the changes： (1) The balance of cash at bank and on hand at the end of the reporting period stood at RMB1,166.94 million, a decrease of RMB924.51milion or about 44.20% compared with the beginning of the year. For changes in major cash flow s of the Company’s cash at bank and on hand during the reporting period, please refer to “3. Changes in Items of Consolidated Balance Sheet at the End of the Reporting Period and Reasons of this report”. (2) The total balance of financial assets held for trading at the end of the reporting period stood at RMB1,975.89 million, an increase of RMB737.54 million or about 59.56% compared with the beginning of the year, which was mainly due to increase s in immature investment balance of cash management projects (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 period, a decrease of RMB24.50 million compared with the beginning of the year, which was attributable to the fact that the Company had fully collected the matured commercial acceptances from the beginning of the year to the end of the reporting period. At the end of the reporting period, the Company had no commercial acceptances on hand. (4) The closing balance of accounts receivable amounted to RMB772.14 million, representing an increase of RMB210.37million, or approximately 37.45%, as compared with that at the beginning of the year, which was mainly due to the fact that the Company's major credit customers were actively preparing for bulk purchases from the Company for its Q4 2024 sales promotion during the reporting period, and the relevant receivables were still within the commercial credit period as at the end of the reporting period. There was no significant change in the commercial credit policy of the Company's major credit customers from the beginning of the year to the end of the reporting period. The creditworthiness of the Company's credit customers was good and strong. The proportion of the Company's accounts receivable with an age of less than one year to the balance of accounts receivable at the end of the reporting period and at the beginning of the year was approximately 96.31% and 98.65%, respectively, with a better ageing profile and stronger liquidity. The Company's accounts receivable are well paid back and the quality of accounts receivable is high, and the Company believes that the possibility of bad debts arising from accounts receivable is low. The Company has implemented a strict credit management system and a prudent bad debt provisioning policy, and the provision for bad debts in respect of accounts receivable is adequate, with the percentage of provision for bad debts at the end of the reporting period and the beginning of the current year amounting to approximately 5.29% and 4.64%, respectively. (5) The closing balance of prepayments amounted to RMB110.73 million, representing an increase of RMB41.45 million, or approximately 59.83%, as compared with the beginning of the year, which was mainly attributable to the increase in the Company's prepayment of marketing expenses and advertising and endorsement expenses of large- scale B2C e-commerce platforms and other marketing service providers for the fourth quarter of 2024 for the promotion activities during the reporting period. The Company's prepayments are expected to be written off in the next twelve months on a turnaround basis. (6) The closing balance of other receivables amounted to RMB38.78 million, representing an increase of RMB9.03 million, or approximately 30.35%, as compared with the beginning of the year, which was mainly attributable to the increase in deposits and guarantees paid by the Company for the purpose of carrying out its business activities from the beginning to the end of the reporting period. The Company has implemented a strict deposit and guarantee management system and a prudent bad debt provision policy, and the bad debt provision for other receivables was adequate, with the bad debt provision ratio at the end of the reporting period and the beginning of the year being approximately 18.84% and 19.97% respectively. (7) The closing balance of construction under progress amounted to RMB54.13 million, representing an increase of RMB13.91 million, or approximately 34.59%, compared with the beginning of the year, which was mainly attributable to the increase in investment in the Company's sporadic engineering and construction (technological upgrading and renovation) projects during the reporting period. (8) The closing balance of right-of-use assets amounted to RMB186.95 million, representing an increase of RMB86.24 million, or 85.63%, compared with the beginning of the year, which was mainly attributable to the Company's new leasing contracts for operating sites from the beginning of the year to the end of the reporting period. From the beginning of the year to the end of the reporting period, the Company's leased premises were mainly used for production, research and development, warehousing and office purposes. (9) The closing balance of intangible assets amounted to RMB 266.96 million, representing an increase of RMB 73.86 million, or approximately 38.25%, compared with the beginning of the year, which was mainly due to the increase in the investment payment for the right to use the office software and the land use right formed by the Company's outsourcing and internal research and development from the beginning of the year to the end of the reporting period. (10) The closing balance of deferred income tax assets amounted to RMB148.45 million, representing an increase of RMB55.31 million, or 59.39%, compared with the beginning of the year, which was mainly due to the combined effect of the increase in the balances of temporary differences in the items of "Lease liabilities" and "Deductible losses" and the decrease in the balances of temporary differences in the item of "Government grants recognized as deferred income" at the end of the reporting period. The increase was mainly due to the combined effect of the increase in the balance of temporary differences between the items of "lease liabilities" and "deductible losses" and the decrease in the balance of temporary differences in the item of "government grants recognized as deferred income" at the end of the reporting period. (11) The closing balance of short-term loans amounted to RMB 245.98 million, representing an increase of RMB 142.16 million, or 136.94%, from the beginning of the year to the end of the reporting period, due to the short-term liquidity financial loans from commercial banks obtained by the Company in accordance with the dynamic capital demand plan and actively exploring sound and diversified financing channels. (12) The closing balance of notes payable amounted to RMB143.65 million, representing an increase of RMB76.09 million, or approximately 112.62%, compared with the beginning of the year. This was due to the fact that from the beginning of the year to the end of the reporting period, the Company, in accordance with the dynamic capital demand plan, actively explored sound and diversified financing channels, and the balance of the outstanding bankers' acceptances payable issued by the Company at the end of the reporting period increased by a relatively large amount. (13) The closing balance of contract liabilities amounted to RMB69.31 million, representing an increase of RMB19.26 million, or approximately 38.48%, as compared with the beginning of the year, which was mainly attributable to the combined effect of the increase in the balance of the Company's advance receipts and provision for sales rebates and unredeemed credit reserves at the end of the reporting period. (14) The ending balance of compensation payable to employees amounted to RMB145.84 million, representing an increase of RMB39.38 million, or approximately 37.00%, as compared to the beginning of the current year, which was mainly attributable to the increase in the amount of the Company's FY201024 year-end bonus (nine months) and the balance of the performance bonus for the third quarter of FY2024, which were accrued in accordance with the accounting period at the end of the reporting period. (15) The closing balance of other payables amounted to RMB105.65 million, a decrease of RMB343.63 million from the beginning of the year, a decrease of approximately 76.48%, mainly due to the fact that from the beginning of the year to the end of the reporting period, the Company paid the various due marketing expenses incurred in the fourth quarter of the previous year in respect of the large-scale B2C e-commerce platforms and other marketing service providers, and the balance of other payables decreased accordingly. (16) The closing balance of other current liabilities amounted to RMB17.06 million, representing an increase of RMB11.60 million, or approximately 212.71%, compared with the beginning of the year, which was mainly attributable to the increase in the balance of the provision for expected return of goods (payable for return of goods) made by the Company during the reporting period. (17) The closing balance of long-term loans amounted to RMB321.30 million, representing a significant increase from the beginning of the year, which was attributable to the long-term project loans from commercial banks obtained by the Company from the beginning of the year to the end of the reporting period. (18) Non-current liabilities due within one year and lease liabilities totaled RMB184.77 million at the end of the period, representing an increase of RMB79.38 million, or approximately 75.33%, compared with the beginning of the year, which was mainly attributable to the increase in the amount of lease payments for operating sites for which the Company had not yet met the payment terms at the end of the reporting period. From the beginning of the year to the end of the reporting period, the Company's leased premises were mainly used for production, research and development, warehousing and office purposes. From the beginning to the end of the reporting period, the closing balance of the Company's right-of-use assets basically matched the trend and magnitude of the increase in the closing balance of non-current liabilities and lease liabilities due within one year. (19) The ending balance of deferred income was RMB56.07 million, a decrease of RMB26.80 million or approximately 32.34%, compared with the beginning of the year, which was mainly due to the higher amortization of government grants for special research and development funds from the beginning of the year to the end of the reporting period in accordance with the progress of the implementation of the scientific and technological projects of the Specialty Plants Laboratory of Yunnan Province. (20) The closing balance of treasury shares was RMB234.72 million, representing an increase of RMB124.88 million, or approximately 113.69%, as compared with the beginning of the year, which was attributable to the repurchase of shares of the Company's ordinary shares through centralized bidding and trading with its own funds pursuant to the resolution of the Board of Directors during the reporting period. 2. Changes in the Items of Consolidated Income Statement from the Beginning of the Year to the End of the Reporting Period and Reasons Currency: RMB
Analysis of reasons for changes: (1) The operating revenue of the Company from the beginning of the year to the end of the reporting period amounted to RMB4,017.76 million, representing an increase of RMB586.28 million, or approximately 17.09%, over the same period of the previous year, which was mainly attributable to the combined effect of the increase in the scale of sales of the Company from the beginning of the year to the end of the reporting period as compared with that of the same period of the previous year, as well as the incorporation of Yue Jiang (Guangzhou) Investment Co. (hereinafter referred to as "ME Investment") was included in the scope of consolidation of the Company from October 31, 2023 onwards. (2) The operating costs of the Company from the beginning of the year to the end of the reporting period amounted to RMB1,055.54 million, representing an increase of RMB246.30 million, or approximately 30.44%, compared with the same period of the previous year, which was mainly attributable to the increase in operating costs in the same direction with the growth of the Company's sales scale and sales revenue. From the beginning of the year to the end of the reporting period, the production cost of the Company's main products basically remained stable. (3) The gross profit margin of the Company from the beginning of the year to the end of the reporting period was approximately 73.73%, representing a decrease of approximately 2.69 percentage points as compared with the same period of the previous year. Among them, Yuejiang Investment's "Za" and "PURE&MILD" brands realized operating income of RMB381.00 million from the beginning of the year to the end of the reporting period, with a gross profit margin of approximately 58.37%; according to the scope of statistics for the same period last year, the company's "Winona (Winona)" brand realized gross profit margin of approximately 73.73% compared with the same period last year. According to the statistical scope of the same period last year, the company "Winona (Winona)" and other major brands from the beginning to the end of the reporting period to achieve a total operating income of RMB3,636.76 million , an increase of about 5.98% compared with the same period of the previous year, gross profit margin of sales of about 75.34%. The increase in operating costs from the beginning to the end of the reporting period was slightly higher than the increase in operating income, mainly due to the combined effect of the company's promotional policies and the dynamic response of the sales structure of its products (brands) in accordance with market demand from the beginning to the end of the reporting period. (4) The Company's selling expenses from the beginning of the year to the end of the reporting period amounted to RMB2,009.99 million, representing an increase of RMB405.41 million, or approximately 25.27%, over the same period of the previous year, which was mainly attributable to the growth in the Company's sales scale and sales revenue, and the Company's continued increase in the investment in the promotion and publicity expenses of its brand image, personnel expenses and storage expenses. From the beginning to the end of the reporting period, the growth of the Company's selling expenses was higher than the growth of sales scale, which was mainly due to the combined effect of the Company's initiative to increase its promotional inputs such as grass-raising and traffic attraction in Jitterbug channels, and the increase in advertising and marketing inputs such as brand endorsement and co-branding activities in order to drive the Company's and the brand's sound volume to increase and to warm up for the omni-channel promotion activities in the fourth quarter of 2024 during the reporting period. (5) The administrative expenses of the Company from the beginning of the year to the end of the reporting period amounted to RMB339.56 million, representing an increase of RMB95.35 million, or approximately 39.04%, over the same period of the previous year. The increase in the Company's administrative expenses from the beginning to the end of the reporting period was higher than the increase in sales scale, which was mainly due to the accrual of equity incentive expenses for the employee shareholding plan during the reporting period. The management expenses such as administrative personnel expenses, depreciation and amortization costs of long-term assets for management purposes and other administrative expenses from the beginning to the end of the reporting period were basically matched with the growth in sales scale of the Company. (6) Finance cost (net income) of the Company from the beginning to the end of the reporting period amounted to RMB2.69 million, a decrease of RMB13.75 million, or 83.62%, compared with the same period of the previous year, which was mainly due to the combined effect of the increase in interest expenses from the beginning to the end of the reporting period as compared with that of the same period of the previous year, as well as the decrease in interest income from demand deposits as compared with that of the same period of the previous year. (7) The Company's net gain from changes in fair value from the beginning of the year to the end of the reporting period amounted to RMB17.37 million, an increase of RMB41.39 million in net gain compared with the same period of the previous year, and a significant increase in net gain year-on-year, which was mainly attributable to the increase in the fair value of a number of entrusted wealth management (measured at fair value) items held by the Company in its cash management investments from the beginning of the year to the end of the reporting period. (8) The non-operating expenses of the Company from the beginning of the year to the end of the reporting period amounted to RMB12.39 million, representing an increase of RMB4.23 million, or 51.91%, compared with the same period of the previous year, which was mainly attributable to the increase in the Company's expenditure on external public welfare donations from the beginning of the year to the end of the reporting period. (9) From the beginning of the year to the end of the reporting period of the company's net profit attributable to shareholders of the parent company of 414.77 million RMB, compared with the same period of the previous year decreased by RMB164.42 million, a decrease of about 28.39%, mainly due to the company's operating income continued to grow, the gross profit margin of the sales of the product (brand) sales structure due to the causes of a slight decline in sales as well as the various types of operating expenses phased (or project) rise in the combined impact of the company. 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 Currency: RMB
(1) Cash inflow from operating activities from the beginning to the end of the reporting period amounted to RMB4,202.32 million, an increase of RMB478.08 million or 12.84% over the same period of the previous year, which was mainly due to the increase in cash inflow from the growth in sales scale and sales revenue of the Company. From the beginning to the end of the reporting period, the growth of the item "cash received from sales of goods and services" in the company's operating activities was basically matched with the growth of sales scale. As the government grants and special payables received by the Company from the beginning to the end of the reporting period decreased more than that of the same period last year, "cash received from other operating activities" decreased by RMB97.20 million year-on-year, or about 65.16%. (2) From the beginning to the end of the reporting period, the company's cash outflow from operating activities amounted to RMB 4,195.89 million, an increase of RMB 596.11 million over the same period of the previous year, an increase of approximately 16.56%, which was mainly due to the increase in the company's other operating expenditures such as brand image promotion and publicity costs, personnel costs and storage costs inputs with the increase in sales scale. From the beginning of the year to the end of the reporting period of the company's cash outflow from operating activities growth and sales scale growth basically match. (3) The Company's cash inflow from investing activities from the beginning to the end of the reporting period amounted to RMB3,059.33 million, a decrease of RMB830.79 million, or approximately 21.36%, compared with the same period of the previous year, which was mainly due to the fact that the Company's major cash management entrusted wealth management investment projects had not yet matured at the end of the reporting period. (4) Cash outflow from investing activities of the Company from the beginning of the year to the end of the reporting period amounted to RMB 4,081.96 million, a decrease of RMB 348.17 million, or 7.86%, compared with that of the same period of the previous year, mainly due to the fact that the Company's major cash management entrusted wealth management investment projects had not yet expired at the end of the reporting period, and the Company's remaining amount of cash management investment that could be made with idle fund-raising funds and idle own funds authorized by the general meeting of shareholders was reduced. The decrease was mainly due to the decrease in the amount of cash management entrusted financial investment paid by the Company from the beginning to the end of the reporting period. (5) The cash inflow from financing activities of the Company from the beginning to the end of the reporting period amounted to RMB669.28 million million, representing a substantial increase compared with the same period of the previous year, which was mainly attributable to the short-term liquidity financial loans and long-term project loans from commercial banks obtained by the Company in accordance with its dynamic capital demand plan and actively exploring sound and diversified financing channels during the reporting period. (6) Cash outflow from financing activities of the Company from the beginning to the end of the reporting period amounted to RMB662.76 million, representing an increase of RMB263.23 million, or 65.89%, compared with the same period of last year. This was mainly due to the combined effect of the repayment of maturing commercial bank loans by the Company from the beginning of the year to the end of the reporting period, the decrease in the distribution of annual cash dividends to all shareholders as compared with the same period of the previous year, and the increase in the amount of the Company's own funds utilized to repurchase the Company's ordinary shares by way of centralized competitive bidding in accordance with the resolution of the Board of Directors. II. Shareholders 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: shares
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