Awards and Recognition - In 2022, the company was recognized as a key supplier for living materials in Shanghai during the COVID-19 lockdown, ensuring supply stability[4] - The company won the "Best Supplier" award from Yili and the Quality Excellence Award from McCormick (China) in 2022[5] - The company's product "Omelette" received the "Best Creative Product" award from Jiangnan University in 2022[6] Product Development and Innovation - The company launched a new ready-to-drink protein beverage, expanding its product line from raw materials to higher value-added food products[6] - The company is focusing on innovation with new products like salted egg yolk sauce, which has broad market applications, and is developing high-value-added products like egg extract[90] - The company has diversified its product offerings, including heat-stable liquid eggs and flavored egg yolk powder, to meet the growing demand from downstream food enterprises[88] Financial Performance - The total operating revenue for 2022 was RMB 892,433,820.83, representing a 5.08% increase from RMB 849,287,179.22 in 2021[27] - The net profit attributable to shareholders for 2022 was RMB 35,805,928.60, a significant increase of 59.22% compared to RMB 22,487,972.78 in 2021[27] - The gross profit margin improved to 10.65% in 2022 from 9.96% in 2021[27] Cash Flow and Assets - The company's net cash flow from operating activities increased from 46.96 million yuan in 2021 to 59.40 million yuan in 2022[14] - The cash flow from operating activities for 2022 was RMB 59,403,081.19, reflecting a 26.50% increase from RMB 46,957,878.25 in 2021[31] - The company's cash and cash equivalents decreased by 31.24% to 51,292,469.09 yuan, primarily due to debt repayments during the reporting period[54] Debt and Financial Stability - The company's debt-to-asset ratio decreased from 40.08% in 2020 to 24.33% in 2022, indicating improved financial stability[14] - Total liabilities were reduced by 38.66% to RMB 124,873,663.00 in 2022, compared to RMB 203,587,668.41 in 2021[29] - Financial expenses decreased by 86.63% to 302,678.55 yuan, due to improved cash flow and early repayment of interest-bearing debts[58] Research and Development - The company invested CNY 17.89 million in R&D in 2022, a 7.52% increase from the previous year, accounting for 2.00% of total revenue[46] - The number of R&D personnel increased from 21 to 26, with R&D staff now accounting for 7.32% of total employees[73] - Ongoing R&D projects include the development of new egg products and technologies aimed at enhancing product quality and market expansion[75] Market Position and Partnerships - The company has established long-term partnerships with major food companies, including Unilever and Mondelēz, enhancing its market presence[47] - The processing ratio of egg products in China is currently only 5%-7%, with a forecast to reach 30% by 2025, indicating significant market potential[50] - The domestic demand for egg products is on the rise, driven by the rapid growth of downstream industries such as food processing and catering[86] Governance and Compliance - The company has established new governance systems during the reporting period, ensuring compliance with relevant laws and regulations[152] - The company has made three amendments to its articles of association during the reporting period, adhering to legal procedures for major business decisions[156] - The company has not encountered any major legal violations during the reporting period, indicating effective governance[164] Shareholder Information - The total number of shares at the end of the period is 153,695,536, with 97.41% being unrestricted shares[113] - The controlling shareholder, China Egg Products ApS, holds 87.96% of the shares, totaling 135,188,506 shares[119] - The company has proposed a dividend return plan for shareholders following the public offering[162] Audit and Financial Reporting - The audit report for the company was issued with no reservations, confirming the fair presentation of financial statements as of December 31, 2022[181] - The audit identified revenue recognition as a key audit matter due to the inherent risk of misstatement associated with the company's diverse transaction counterparties[185] - The company is responsible for preparing financial statements in accordance with accounting standards, ensuring fair representation and maintaining necessary internal controls[189]

Financial Performance - The company's total revenue for 2022 was approximately ¥892.43 million, representing a year-on-year increase of 5.08%[4] - Net profit attributable to shareholders reached approximately ¥35.81 million, a significant increase of 59.22% compared to the previous year[4] - Basic earnings per share increased to ¥0.23, reflecting a growth of 53.33% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥34.80 million, up 63.25% from the previous year[4] Assets and Equity - Total assets at the end of the reporting period were approximately ¥513.35 million, a decrease of 7.41% year-on-year[5] - Shareholders' equity attributable to the company increased to approximately ¥388.48 million, marking a year-on-year growth of 10.73%[5] Operational Highlights - The company successfully maintained sales growth despite overall consumption cooling due to the pandemic, aided by effective supply chain management[8] - The subsidiary Guangdong Oufu Egg Industry Co., Ltd. achieved its first annual profit since inception, indicating strong market expansion efforts[8] - The company reduced interest expenses by ¥1.97 million through early repayment of interest-bearing liabilities, supported by improved cash flow from operations[8] Cautionary Notes - The financial data presented is preliminary and has not been audited, emphasizing the need for cautious investment decisions[9]

Financial Performance - The estimated net profit attributable to shareholders for 2022 is projected to be between 35 million to 36 million CNY, representing a growth of 55.64% to 60.09% compared to the previous year's 22.488 million CNY [3]. - The net profit after deducting non-recurring gains and losses is expected to be between 34.5 million to 35.5 million CNY, indicating a growth of 61.83% to 66.52% from the previous year's 21.3182 million CNY [3]. Operational Efficiency - The company has three factories located in major economic regions, which helped maintain order supply despite the challenges posed by the pandemic [4]. - The company has successfully increased the proportion of high value-added products, leading to an overall increase in gross profit margin [4]. - The company has improved its operating cash flow and reduced interest expenses by 1.97 million CNY through early repayment of interest-bearing debts [4]. Market Expansion - The subsidiary Guangdong Oufu Egg Industry Co., Ltd. has achieved significant market expansion and recorded its first annual profit since inception [4]. Cautionary Note - The performance forecast is based on preliminary calculations and has not been audited by an accounting firm, thus investors are advised to exercise caution [5].