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 - Net profit attributable to shareholders decreased by 26.68% to CNY 12,318,895.10 year-on-year[10] - Operating income rose by 5.08% to CNY 234,034,475.01 compared to the same period last year[10] - Total operating revenue for Q1 2023 reached CNY 234,034,475.01, an increase from CNY 222,712,764.90 in Q1 2022, representing a growth of approximately 5.9%[34] - Net profit for Q1 2023 was CNY 12,318,895.10, a decrease from CNY 16,802,394.72 in Q1 2022, reflecting a decline of approximately 26.7%[35] - Earnings per share for Q1 2023 were CNY 0.07, down from CNY 0.11 in Q1 2022, showing a decrease of about 36.4%[35] - Operating profit for Q1 2023 was approximately ¥7.77 million, a decline of 37.5% from ¥12.32 million in Q1 2022[37] - The company’s total comprehensive income for Q1 2023 was approximately ¥6.54 million, down from ¥10.10 million in Q1 2022[38] Assets and Liabilities - Total assets increased by 25.71% to CNY 645,352,870.50 compared to the end of last year[10] - Current assets totaled CNY 415,283,228.79, a significant increase from CNY 276,320,436.89, reflecting a growth of about 50.4%[28] - Total liabilities amounted to CNY 131,119,339.49, up from CNY 124,873,663.00, reflecting a growth of about 5.0%[29] - Total liabilities for Q1 2023 were CNY 148,552,313.67, slightly up from CNY 147,503,248.38 in Q1 2022, indicating a marginal increase of about 0.7%[32] Shareholder Information - The total equity attributable to shareholders increased by 32.37% to CNY 514,233,531.01 compared to the end of last year[10] - The company issued 51,750,000 new shares, increasing total shares to 205,445,536[15] - The company reported a total shareholding of 135,188,506 shares, representing 65.802% ownership by CHINA EGG PRODUC TS ApS as of the end of the reporting period[16] - Liu Wen holds 10,758,690 shares, accounting for 5.2368% of the total shares, making him a significant shareholder[18] - The total number of shares held by the top ten shareholders is 162,329,500, which is 79.013% of the total shares[18] Cash Flow - Cash flow from operating activities decreased by 62.55% to CNY 6,939,253.11 compared to the previous year[10] - Cash flow from financing activities increased by 432.71% to CNY 153,047,180.51 due to the issuance of shares[13] - Cash and cash equivalents rose to CNY 173,654,644.64, compared to CNY 51,292,469.09 at the end of 2022, marking an increase of approximately 238.5%[28] - Cash inflow from financing activities totaled ¥130,972,287.71, significantly up from ¥4,500,000.00 in Q1 2022[42] - Net cash flow from financing activities was ¥118,178,125.00, a turnaround from -¥30,695,745.77 in Q1 2022[42] Expenses - Management expenses increased by 49.96% to CNY 9,063,373.51 due to higher business and travel costs[12] - Financial expenses decreased by 79.40% to CNY 90,000.00 due to reduced borrowing costs[12] - Total operating costs for Q1 2023 were CNY 218,981,832.22, up from CNY 201,664,756.81 in Q1 2022, indicating an increase of about 8.6%[34] - Research and development expenses for Q1 2023 were CNY 4,275,291.56, compared to CNY 4,156,170.12 in Q1 2022, reflecting a slight increase of about 2.9%[34] Compliance and Commitments - There were no significant legal disputes or external guarantees reported during the period[21] - The company has fulfilled all previously disclosed commitments in a timely manner[21] - The financial report for Q1 2023 is not audited, and the consolidated balance sheet is presented in yuan[25][26] - There are no significant violations or misleading statements reported during the commitment period, ensuring compliance with regulatory requirements[24] Future Plans - The company is focusing on expanding its market presence and developing new products, although specific figures were not disclosed in the report[30] - The company plans to enhance its technological capabilities and explore potential mergers and acquisitions to drive future growth[30] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[36]

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].