Financial Performance - The company achieved operating revenue of CNY 9,272,201,669.79 in 2021, representing a year-on-year increase of 33.12%[24]. - The net profit attributable to shareholders of the listed company was CNY 682,296,084.71, up 13.00% compared to the previous year[22]. - The net cash flow from operating activities decreased by 19.05% to CNY 538,203,778.55, primarily due to increased cash outflows during the reporting period[24]. - The net assets attributable to shareholders of the listed company increased by 37.72% to CNY 5,073,420,600.39, driven by the conversion of convertible bonds and increased net profit[24]. - Basic earnings per share rose to CNY 2.84, reflecting an increase of 8.81% from the previous year[23]. - The weighted average return on equity decreased by 4.86 percentage points to 14.66%[23]. - Operating costs increased by 39.50% to 7.22 billion RMB, which was higher than the revenue growth, primarily due to rising procurement costs and increased labor and production investments[44]. - The gross profit margin decreased by 3.56 percentage points to 22.12% due to rising personnel costs and production inputs[49]. Investments and Acquisitions - The company acquired 71% of Hubei Xinhongye Food Co., Ltd., increasing its stake from 19% to 90%, and included it in the consolidated financial statements[58]. - The company acquired a 69.99% stake in the UK frozen food company Oriental Food Express Limited for approximately 523 million GBP, enhancing its international presence[92]. - The company invested RMB 700 million in the Taizhou Anjing Phase III project and signed an investment agreement with the Jiangsu Province Xinghua Economic Development Zone[95]. - The company plans to invest no less than RMB 800 million in the Henan Anjing Phase III project, pending project feasibility studies[96]. Market Strategy and Product Development - The company is focusing on the development of pre-prepared dishes, which are gaining acceptance in the market, indicating a shift in consumer preferences[33]. - The company has expanded its product line to nearly 400 varieties of frozen foods, enhancing its market competitiveness[35]. - The company is actively exploring new sales channels and models, including gift vouchers and electronic vouchers, to enhance its direct sales system[39]. - The company is implementing a "sales-driven production" strategy, establishing factories in regions where sales reach a certain scale to reduce logistics costs and improve market responsiveness[109]. - The company aims to enhance brand visibility through a comprehensive marketing strategy that includes traditional media, social media, and influencer partnerships to reach younger consumers[110]. Governance and Compliance - The board of directors has confirmed that all members attended the board meeting, ensuring the accuracy and completeness of the annual report[4]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, to enhance decision-making efficiency[118]. - The company emphasizes the protection of stakeholders' rights, aiming for a balance of interests among shareholders, employees, and society[119]. - The company has established a robust governance structure that aligns with national laws and regulations, ensuring the protection of shareholder rights[119]. Environmental Responsibility - The company is committed to improving environmental quality and adheres strictly to environmental impact assessment regulations[159]. - The company has established emergency response plans for environmental incidents, which have been filed with local environmental authorities[160]. - The company is no longer classified as a key pollutant discharge unit for the year 2021, with its subsidiaries being monitored for wastewater discharge[154]. - Chemical Oxygen Demand (COD) emissions were reported at 1.09 tons/year, significantly below the regulatory limit of 166.03 tons/year[157]. Shareholder Relations - The company has a clear shareholder return plan for the next three years (2021-2023) as part of its strategic initiatives[122]. - The company distributed a cash dividend of 0.742 yuan per share, totaling 181,362,876.02 yuan (including tax) based on a total share capital of 244,424,360 shares[147]. - The controlling shareholder, Guoli Minsheng, and actual controller, Zhang Gaolu, have committed to avoiding any business that competes directly or indirectly with Anjii Food's main business in China[168]. Risk Management - The company has outlined potential risks in its future development plans, emphasizing the impact of external environments and operational changes[7]. - The company faces risks related to food safety, rising costs of raw materials, and potential impacts from natural disasters or public health events[114].

Financial Performance - The company's operating revenue for 2019 was CNY 5,266,663,002.38, representing a 23.66% increase compared to CNY 4,259,090,161.02 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 373,343,805.15, a 38.14% increase from CNY 270,256,271.79 in 2018[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 335,293,690.41, up 38.10% from CNY 242,793,380.40 in 2018[21]. - The net cash flow from operating activities for 2019 was CNY 576,571,946.57, a significant increase of 94.89% compared to CNY 295,850,939.13 in 2018[21]. - The total assets at the end of 2019 were CNY 5,684,550,964.07, reflecting a 24.57% increase from CNY 4,563,256,171.02 at the end of 2018[21]. - The net assets attributable to shareholders at the end of 2019 were CNY 2,743,656,302.95, which is a 33.97% increase from CNY 2,047,980,101.90 at the end of 2018[21]. - Basic earnings per share were ¥1.67, representing a 33.60% increase compared to the previous year[23]. - Diluted earnings per share were ¥1.62, up by 30.65% year-on-year[23]. - The weighted average return on equity increased to 15.44%, up by 0.82 percentage points from the previous year[23]. Revenue and Growth - Operating revenue grew by 23.66% year-on-year, driven by enhanced sales promotion of new and next-generation products[23]. - The company reported a total of ¥1,773,254,560.01 in revenue for Q4 2019, with a net profit of ¥135,158,007.43 for the same quarter[24]. - The revenue from prepared dishes increased by 38.13% year-on-year, driven by growth in egg dumplings and tofu products[45]. - The revenue from other businesses grew by 155.05% year-on-year, with a gross margin increase of 13.63 percentage points[45]. - E-commerce revenue surged by 329.86% to 31,317,637.39 RMB, driven by growth in self-operated sales on platforms like JD.com[72]. Cash Flow and Expenses - The company's investment activities generated a net cash flow of CNY -567,725,308.45, reflecting a significant change due to reduced financial product transactions[42]. - Financial expenses decreased by 52.44% year-on-year, mainly due to reduced interest on convertible bonds and increased interest income[42]. - Research and development expenses amounted to CNY 74,519,959.22, representing 1.41% of total revenue, with a year-on-year growth of 8.97%[56]. - Sales expenses rose by 13.09% to CNY 646,974,845.49, driven by increased promotional activities and logistics costs[54]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4.74 per 10 shares to shareholders, pending approval at the shareholders' meeting[5]. - In 2019, the company distributed cash dividends totaling approximately RMB 112.04 million, with a payout ratio of 30.01% of the net profit attributable to ordinary shareholders[100]. - The cash dividend per share for 2019 was RMB 4.74, compared to RMB 3.76 in 2018 and RMB 2.82 in 2017, indicating a year-over-year increase of 31.1% from 2018 to 2019[100]. Market and Product Development - The company has over 300 varieties of frozen food products under the "Anjing" brand, including frozen fish products, meat products, and frozen noodles[30]. - The company has established a marketing network centered in East China, gradually becoming one of the more influential frozen food enterprises in the country[30]. - The company is focusing on the development of the frozen food market, implementing a "full-channel, full-region, big single product" strategy to increase market share[92]. - New product launches include staple food products like pies and continued sales growth for the "fresh-lock" series and "three major balls" in hot pot ingredients[93]. Risks and Compliance - The company emphasizes the potential risks associated with future development plans and strategies, advising investors to be cautious[6]. - The company is addressing food safety risks associated with raw materials and supply chain management, which could impact operational stability[95]. - The company has not reported any major litigation or arbitration matters for the year[128]. - The company has not faced any risks of suspension or termination of its listing[128]. Corporate Governance - The company has a clear governance structure, with responsibilities defined for the shareholders' meeting and the board of directors[191]. - The board of directors has established specialized committees, including a strategy committee, audit committee, nomination committee, and compensation and assessment committee[192]. - The company emphasizes the importance of corporate governance and compliance with the Company Law and relevant regulations, with no significant discrepancies reported[194][195]. - The supervisory board has effectively fulfilled its responsibilities, ensuring the protection of shareholders' legal rights[193]. Investments and Financial Products - The company has engaged Lixin Accounting Firm for auditing services, with a remuneration of 1.2 million RMB for the year[127]. - The company invested a total of ¥5,000,000 in a bank wealth management product with an annualized return of 5.30%, resulting in a total recovery of ¥140,600[139]. - The total amount of structured deposits from China Everbright Bank reached 5,000 million with a fixed deposit interest rate of 4.20%[141]. Employee and Management Structure - The total number of employees in the parent company is 1,772, while the total number of employees in major subsidiaries is 9,164, resulting in a combined total of 10,936 employees[185]. - The total remuneration for all directors, supervisors, and senior management during the reporting period is 9.18 million yuan[183]. - The company has established a training management system to support employee development and ensure the achievement of strategic goals[187].