Financial Performance - Revenue for 2022 reached 3,639,204,400 yuan, a year-on-year increase of 9.20%[13] - Net profit attributable to shareholders of the parent company was 77,351,200 yuan, with a net profit after deducting non-recurring gains and losses of 46,441,600 yuan[13] - Revenue increased by 9.20% to RMB 3,639,204,399.96 compared to the previous year[29] - Net profit for the period was RMB 69,760,776.70, an increase from RMB 64,463,697.43 in the previous period[68] - Net profit for 2022 was 59,546,960.89 RMB, up from 47,866,068.53 RMB in 2021[169] - Net profit for 2022 was 69,760,776.70 RMB, compared to 64,463,697.43 RMB in the previous year[186] - Operating profit for 2022 was 60,583,598.15 RMB, up from 57,291,820.70 RMB in the previous year[186] - Total comprehensive income attributable to the parent company was 28,148,245.68 RMB in 2022, compared to 68,935,999.34 RMB in 2021[159] - Comprehensive income for 2022 was 10.34 million, compared to 59.55 million in 2021[195] - Net profit for the period was 44,990,568.53, indicating a recovery in earnings[181] Assets and Liabilities - Total assets at the end of the reporting period were 8,733,036,500 yuan, an increase of 5.98% compared to the beginning of the year[13] - Total liabilities at the end of the reporting period were 4,658,227,200 yuan, an increase of 11.40% compared to the beginning of the year[13] - Monetary funds increased by 26.18% to 735,472,400.34 yuan, accounting for 8.42% of total assets[35] - Short-term loans surged by 160.71% to 2,268,050,695.39 yuan, representing 25.97% of total assets[35] - Long-term loans rose by 66.58% to 661,881,722.23 yuan, making up 7.58% of total assets[35] - Total assets increased to 8,733,036,459.78 RMB in 2022, up from 8,240,653,538.26 RMB in 2021[155] - Short-term borrowings surged to 2,268,050,695.39 RMB in 2022, compared to 869,958,589.84 RMB in 2021[155] - Total current liabilities increased to 3,585,991,223.85 RMB in 2022, compared to 1,913,277,326.81 RMB in 2021[155] - Long-term borrowings grew to 661,881,722.23 RMB in 2022, up from 397,328,356.10 RMB in 2021[155] - Total liabilities reached 4,658,227,203.21 RMB in 2022, compared to 4,181,578,265.65 RMB in 2021[155] - Shareholders' equity totaled 4,074,809,256.57 RMB in 2022, slightly up from 4,059,075,272.61 RMB in 2021[156] - Total assets increased to 8,113,786,059.56 RMB in 2022, up from 7,874,150,750.32 RMB in 2021[165] - Total liabilities increased to 3,549,869,634.71 RMB in 2022, up from 3,312,795,516.81 RMB in the previous year[185] - Total equity (or shareholders' equity) slightly increased to 4,563,916,424.85 RMB in 2022 from 4,561,355,233.51 RMB in the previous year[185] Revenue Breakdown by Sector - Agricultural sector revenue was 3,007,553,788.72 yuan, with a gross margin of 19.14%, a decrease of 0.30 percentage points year-on-year[15] - Industrial sector revenue was 165,794,458.66 yuan, with a gross margin of 14.59%, a decrease of 5.64 percentage points year-on-year[15] - Commercial sector revenue was 725,529,783.22 yuan, with a gross margin of 5.49%, an increase of 1.07 percentage points year-on-year[15] - Revenue from chili products increased by 62.15% to RMB 342,700,661.72[31] - Production volume of chili products increased by 71.42% to 47,764.83 tons[31] - Gross profit margin for fruit products increased by 20.50 percentage points to 22.19%[31] - Domestic revenue accounted for RMB 3,639,204,399.96, representing a 9.20% increase year-over-year[31] - Direct sales revenue was RMB 3,639,204,399.96, with a gross profit margin of 17.46%[31] - Agricultural sector costs increased by 11.34% to RMB 2,108,001,448.82, accounting for 64.59% of total costs[32] - Sales revenue from goods and services increased to 3,776,467,424.40 in 2022, up from 3,431,634,831.69 in 2021[171] R&D and Innovation - R&D expenses increased significantly by 38.41% to 32,253,056.79 yuan compared to the previous year[17] - The company has 98 R&D personnel, accounting for 1.95% of the total workforce[18] - R&D expenses increased by 38.41% to RMB 32,253,056.79 due to increased R&D investment[29] - The company has established a postdoctoral innovation practice base in Gansu Province and collaborates with research institutions for technological advancements[27] - The company emphasizes the importance of digital agriculture and modern agricultural practices for future growth[38] Cash Flow and Liquidity - Net cash flow from operating activities increased by 64.37% to RMB 258,546,434.65[29] - Operating cash flow net amount was RMB 258,546,434.65, up from RMB 157,296,710.56 in the previous period[69] - Cash and cash equivalents at the end of the period were RMB 683,004,206.21, compared to RMB 560,608,931.41 at the beginning of the period[70] - Restricted cash due to bill guarantees and guarantee deposits amounted to RMB 52,468,194.13[72] - Foreign currency monetary funds at the end of the period were RMB 3,527,818.54, converted at an exchange rate of 6.9646[73] - Net cash flow from operating activities rose to 258,546,434.65 in 2022, compared to 157,296,710.56 in 2021[171] - Net cash flow from investing activities was -194,256,491.47 in 2022, compared to -140,351,102.03 in 2021[172] - Net cash flow from financing activities was 58,384,223.26 in 2022, compared to -528,455,950.76 in 2021[172] - Net increase in cash and cash equivalents was 122,395,274.80 in 2022, compared to -511,047,631.66 in 2021[172] - Total cash and cash equivalents increased to 598.35 million at the end of 2022 from 469.70 million at the beginning of the year[188] Subsidiaries and Investments - Two new subsidiaries were added: Gansu Zhongken Yu Seed Co., Ltd. and Gansu Yasheng Seed Group Seed Research Institute Co., Ltd.[39] - Gansu Zhongken Yu Seed Co., Ltd. was established with a registered capital of 30 million yuan, focusing on seed production and agricultural services[40] - Gansu Yasheng Pastoral Song Grass Industry Group Co., Ltd. reported a net profit of 38.34 million yuan[37] - Gansu Yasheng Lvxin Beer Raw Material Group Co., Ltd. achieved a net profit of 10.09 million yuan[37] - The company holds 100% equity in 12 subsidiaries, including Gansu Yasheng Pastoral Grass Industry Group Co., Ltd., Gansu Yasheng Luxin Beer Raw Material Group Co., Ltd., and Gansu Yasheng Haoshibang Food Group Co., Ltd., all established in Gansu Province[41] - Gansu Ruisheng•Yameite High-tech Agriculture Co., Ltd. is 75% owned by the company, with the remaining 25% indirectly held[41] - The subsidiary Gansu Ruisheng Yamet High-tech Agriculture Co., Ltd. reported a net loss of RMB 26.39 million for the period, with a total comprehensive loss of RMB 26.39 million and negative operating cash flow of RMB 55.24 million[49] - Gansu Ruisheng Yamet High-tech Agriculture Co., Ltd. had total assets of RMB 165.71 million at the end of the period, with current assets of RMB 164.15 million and non-current assets of RMB 1.56 million[49] - The company's consolidated financial statements include 38 subsidiaries for the year 2022[199] Risk Management - The company faces macroeconomic policy risks, market risks, project risks, and natural disaster risks, which could impact agricultural production and operations[42] - The company's financial risk management focuses on market risk, credit risk, and liquidity risk, with measures in place to mitigate these risks[51] - The company's market risk includes foreign exchange risk, primarily related to USD-denominated sales and a USD loan, with potential impact on financial performance[51] - The company's credit risk is managed through credit approval processes and monitoring to ensure recovery of overdue receivables, with adequate bad debt provisions[52] - The company maintains sufficient cash and cash equivalents to manage liquidity risk and meet operational needs[52] - The company's financial instruments include equity investments, borrowings, receivables, and payables, with risk management policies to balance risk and return[51] - The company's equity investments are subject to market price risk due to fair value measurement at the balance sheet date[52] - The company's short-term and long-term borrowings, as well as bonds payable, are not subject to interest rate risk as they do not have floating rates[52] - The company's financial assets and liabilities are primarily denominated in RMB, with limited exposure to foreign currency risk[51] Corporate Governance - The company held 3 general meetings of shareholders and 7 board meetings during the reporting period, discussing 38 proposals[43] - The company's senior management appointments and dismissals are strictly in accordance with relevant laws, regulations, and the company's articles of association[44] - The 2021 Annual General Meeting of Shareholders approved 16 proposals, including the 2021 Board of Directors Work Report and the 2021 Financial Report[44] - The 2022 First Extraordinary General Meeting of Shareholders approved the issuance of medium-term notes[44] - The 2022 Second Extraordinary General Meeting of Shareholders approved the replacement of directors and the provision of maximum loan guarantees for subsidiaries[44] - The company's board of directors and senior management, including Chairman Li Keshu and Vice President Gou Fohong, received annual pre-tax remuneration ranging from RMB 43.41 million to RMB 51.05 million[64] - The company held 7 board meetings in 2022, with all directors attending as required, and no instances of consecutive absences[81] - The Audit Committee held 6 meetings in 2022, reviewing financial reports, audit plans, and internal control evaluations[83][84] - The Nomination Committee held 1 meeting in 2022, approving proposals for director replacement and senior management appointments[85] - The Compensation Committee held 1 meeting in 2022, reviewing the 2021 senior management performance evaluation results[86] - The company revised multiple internal regulations, including the Articles of Association, Board Meeting Rules, and Independent Director Work System[80] - The company approved the establishment of a seed research institute by its wholly-owned subsidiary[80] - The company provided credit guarantees and loan guarantees for its subsidiaries[80] - The company issued medium-term notes and applied for bank loan facilities[80] - The company conducted inter-subsidiary equity transfers and subsidiary branch closures[80] - The company prepared and reviewed quarterly financial reports throughout 2022[84] - The company's board of directors approved the reappointment of Da Xin Certified Public Accountants as the financial report and internal control audit institution for 2022[118] - The company's director Li Zongwen was investigated for suspected disciplinary and duty-related violations, but this incident is unrelated to the company's operations[119] - The company has no major litigation or arbitration matters during the reporting period[118] - The company's total share capital and equity structure remained unchanged during the reporting period[124] - The company has no significant changes in its accounting policies, estimates, or major accounting errors during the reporting period[117] Shareholder Information - The parent company, Gansu Agricultural Reclamation Group Co., Ltd., holds a 15.57% stake and 24.58% voting rights in the company[56] - Several executives hold positions in the parent company, including Ma Jianlin as Party Committee Member and Deputy General Manager since December 2021[58] - The company has 39 affiliated companies, all of which are wholly-owned or controlled subsidiaries of the parent company[59] - The company's subsidiaries include Gansu Qizheng Advertising Culture Media Co., Ltd., Gansu Ruijia Animal Husbandry Co., Ltd., and Gansu Nongken Baopinghe Ranch Co., Ltd., all of which are wholly-owned subsidiaries of the parent company[60] - The company's total number of ordinary shareholders at the end of the reporting period is 130,124[125] - The company's total number of ordinary shareholders at the end of the previous month before the annual report disclosure is 127,878[125] - Gansu Agricultural Reclamation Group Co., Ltd. holds 303,121,313 shares, accounting for 15.57% of the total shares[127] - Gansu Agricultural Reclamation Asset Management Co., Ltd. holds 175,371,852 shares, accounting for 9.01% of the total shares[127] - Gao Bin holds 14,141,614 shares, accounting for 0.73% of the total shares[127] - Cheng Ye holds 10,000,200 shares, accounting for 0.51% of the total shares[127] - Zhuhai Hengqin Liangxing Investment Management Co., Ltd. holds 9,000,000 shares, accounting for 0.46% of the total shares[127] - Mao Luping holds 8,538,539 shares, accounting for 0.44% of the total shares[127] - Chen Wei holds 6,572,200 shares, accounting for 0.34% of the total shares[128] - Dong Zhenhong holds 5,102,300 shares, accounting for 0.26% of the total shares[128] - Zhao Chuanmin holds 5,030,000 shares, accounting for 0.26% of the total shares[128] - Guangdong Fengwei Property Management Co., Ltd. holds 5,000,000 shares, accounting for 0.26% of the total shares[128] Environmental and Social Responsibility - The company's environmental responsibility initiatives include promoting sustainable agriculture, reducing plastic film pollution, and improving living conditions for employees[100] - Environmental protection funds invested during the reporting period amount to RMB 2.8066 million[107] - The company has not established a mechanism related to environmental protection[107] - No specific measures were taken to reduce carbon emissions during the reporting period[108] - The company focused on ecological protection in the Qilian Mountain National Park area, promoting the transformation of traditional animal husbandry to modern animal husbandry[108] - The company actively participated in local COVID-19 prevention and control systems, donating materials and organizing grassroots party members to block the spread of the epidemic[109] - The company implemented industrial, technical, and labor assistance to help surrounding farmers increase income, including building standardized potato production bases and providing free technical services[110] Future Plans and Strategies - The company plans to focus on enhancing core competitiveness and profitability through internal growth and external expansion in 2023[23] - The company aims to expand land resources and improve agricultural production levels through high-standard farmland construction[24] - The company will continue to innovate marketing models and enhance brand influence through various agricultural service models[24] - The company's training plan for 2023 focuses on institutionalized and regular training, with a "going out and bringing in" approach to enhance the effectiveness of education and training[91] Miscellaneous - The company's comprehensive mechanization rate for crop cultivation reached 92%, with advanced agricultural machinery and equipment[12] - The company's agricultural products achieved a yield increase effect of up to 15% in some crops through optimized socialized services[11] - The company actively expanded new marketing methods such as live streaming and community group buying, and saw significant growth in export trade[11] - Sales expenses decreased by 9.39% to 49,725,865.93 yuan compared to the previous year[17] - Management expenses increased by 11.09% to 318,956,797.03 yuan compared to the previous year[17] - The company's restricted monetary funds amounted to 52,468,194.13 yuan at the end of the reporting period[20] - The company disclosed 56 announcements throughout the year, improving information disclosure management[27] - Gross profit margin for forage products increased by 3.5 percentage points to 18.79%[31] - R&D investment data is not applicable for detailed breakdown or significant changes in R&D personnel structure[34] - Cash flow data is applicable and provided[34] - The company's actual controller is the State-owned Assets Supervision and Administration Commission of Gansu Provincial People's Government[161] - The company's fiscal year runs from January 1 to December 31[200] - The financial statements were approved by the 16th meeting of the 9th Board of Directors on April 24, 2022[198]