证券代码：001313 证券简称：粤海饲料 公告编号：2023-078 广东粤海饲料集团股份有限公司 关于2023年员工持股计划完成非交易过户 暨回购股份处理完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 广东粤海饲料集团股份有限公司（以下简称"公司"）于2023年5月19日召开第 三届董事会第八次会议和第三届监事会第六次会议，并于2023年6月7日召开2023年第 二次临时股东大会，审议通过了《关于公司〈2023年员工持股计划（草案）〉及其摘 要的议案》等相关议案，同意公司实施2023年员工持股计划（以下简称"员工持股计 划"或"本员工持股计划"）；于2023年7月11日召开第三届董事会第九次会议和第 三届监事会第七次会议，审议通过了《关于调整公司2023年员工持股计划相关事项的 议案》，同意本员工持股计划相关事项的调整。具体内容详见公司分别于2023年5月 23日、2023年6月8日、2023年7月12日刊登于《证券时报》《证券日报》《中国证券 报》《上海证券报》《经济参考网》以及巨潮资讯网（www.cninfo.com.cn）上的相 关公告。 ...

证券代码：001313 证券简称：粤海饲料 编号：2023-003 特定对象调研 分析师会议 投资者关系活 媒体采访 业绩说明会 动类别 新闻发布会 路演活动 现场参观 其他 参与单位名称 及人员姓名 投资者网上提问 时间 2023 年 5 月 9 日 15:00-17:00 地点 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采用网络 远程的方式召开业绩说明会 董事长、总经理 郑石轩先生；常务副总经理 郑会方先生；副总经理、 上市公司接待 董事会秘书 冯明珍女士；副总经理、财务总监 林冬梅女士；独立董事 人员姓名 张程女士；保荐代表人 李兴刚先生；证券事务代表 黎维君女士。 本次业绩说明会投资者提出的问题及公司回复情况如下： 1、股票一直跌，公司就完全不管不问？ 答：尊敬的投资者您好！目前公司经营情况正常。股价波动受宏观 经济、市场情绪、投资者预期等多重因素影响，公司将在做好公司基本 面的同时加强同市场和投资者交流。感谢您的关注！ 投资者关系活 2、预制菜项目已经投产，目前产品销售额多少？半年内，预告产品销 动主要内容介 售额收入会多少？谢谢！ 绍 答：尊敬的投资者您好！公司目 ...

Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a leading enterprise in aquatic feed research, production, and sales, with annual sales exceeding 1 million tons [1] - The company focuses on special aquatic feeds, ranking among the top three in the industry, with shrimp and marine fish feeds as its key products [1] Financial Performance - As of the end of 2022, the company had total assets of CNY 4.548 billion and net assets of CNY 2.790 billion, with a debt-to-asset ratio of 38.66% [3] - The company achieved operating revenue of CNY 7.092 billion in 2022, a year-on-year increase of 5.45% [3] - Operating costs reached CNY 6.395 billion, up 8.85% year-on-year, leading to a decline in gross profit margin by 2.81 percentage points compared to the previous year [3] - Net profit attributable to shareholders was CNY 115 million, a decrease of 38.70% year-on-year, with feed sales volume at 999,300 tons, down 2.64% [3] Market Conditions - The aquatic feed industry is facing intense competition, primarily among large enterprises [4] - The overall market for aquatic products is expected to grow in 2023, driven by improved market conditions and increased consumer demand [4] - The total output of industrial feed in China grew by 3% in 2022, with aquatic feed production reaching 25.257 million tons, a year-on-year increase of 10.2% [6] Strategic Initiatives - The company aims to enhance its market share and operational capabilities while managing costs effectively [3] - Plans for capacity expansion include the completion of a 150,000-ton expansion project in Zhongshan and a new 120,000-ton facility in Hainan, which commenced operations in March 2023 [5] - The company emphasizes quality control and customer service to improve client retention and satisfaction [5] Risk Management - The company has implemented a standardized credit assessment system to manage accounts receivable and mitigate risks associated with customer creditworthiness [5] - Strategies include maintaining optimal inventory levels and securing long-term procurement contracts to stabilize raw material costs [4][5]

（二）召开方式：本次说明会将采用网络远程方式举行，届时投资者可登陆 全景网"投资者关系互动平台"（https://ir.p5w.net）参与本次说明会。 （三）出席本次说明会的人员：董事长、总经理郑石轩先生；常务副总经理 郑会方先生；副总经理、董事会秘书冯明珍女士；副总经理、财务总监林冬梅女 士；独立董事张程女士；保荐代表人李兴刚先生（如遇特殊情况，参会人员将会 调整）。 二、问题征集 为充分尊重投资者，提升公司业绩说明会交流的针对性和效果，公司现就 2022 年度业绩说明会提前向投资者公开征集相关问题，广泛听取投资者的意见 和建议。敬请投资者于 2023 年 5 月 8 日（星期一）15:00 前访问 https://ir.p5w.net/zj 或扫描下方二维码进入问题征集专题页面，并提出问题。公司将在 2022 年度网 上业绩说明会上对投资者普遍关注的问题进行回答。 证券代码：001313 证券简称：粤海饲料 公告编号：2023-047 广东粤海饲料集团股份有限公司 关于举办 2022 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏 ...

Financial Performance - The company's operating revenue for 2022 was ¥7,091,868,101.27, an increase of 5.45% compared to ¥6,725,075,889.05 in 2021[28] - The net profit attributable to shareholders for 2022 was ¥115,070,648.29, a decrease of 38.70% from ¥187,724,348.10 in 2021[28] - The net profit after deducting non-recurring gains and losses was ¥84,041,291.09, down 48.64% from ¥163,632,747.28 in the previous year[28] - The net cash flow from operating activities was negative at ¥-231,949,792.55, a decline of 136.82% compared to ¥629,887,826.61 in 2021[28] - Basic earnings per share decreased by 45.16% to ¥0.17 from ¥0.31 in 2021[28] - The weighted average return on net assets was 4.31%, down 4.40% from 8.71% in the previous year[28] - In Q4 2022, the company reported an operating revenue of ¥1,519,716,204.22, with a net profit of ¥70,751,766.43[30] Assets and Investments - Total assets at the end of 2022 reached RMB 4,548,175,278.75, an increase of 23.72% compared to RMB 3,676,160,321.49 at the end of 2021[49] - Net assets attributable to shareholders of the listed company were RMB 2,792,952,545.59 at the end of 2022, reflecting a growth of 24.89% from RMB 2,236,302,397.30 at the end of 2021[49] - The company utilized 193 million yuan of raised funds, with 79.3 million yuan used to replace self-raised funds for investment projects and 113.7 million yuan directly invested in projects[89] - The company raised a total of 538 million yuan, with a net amount of 480.08 million yuan after deducting issuance costs of 57.92 million yuan[118] - As of December 31, 2022, the company had unused raised funds amounting to 292.10 million yuan, with 95 million yuan allocated for structured deposits yet to mature[118] Market Position and Strategy - The company is experiencing increased competition and is focusing on scale expansion and industry consolidation to enhance market share[9] - The company emphasizes the importance of technological advancements and health-oriented farming practices to drive future growth in the aquaculture feed sector[2] - The company ranks fifth in the "Top 100 Brand Value List of China's Aquaculture Industry" with a brand value of 98.975 billion yuan and received the "2022 China Aquaculture Industry Top Ten Outstanding Contribution Award"[72] - The company has actively entered the high-end aquatic protein-based prepared food industry, launching prepared food products in 2022 and was recognized as the "Most Promising Aquatic Prepared Food Enterprise" at the 2022 China Aquatic Prepared Food Industry Summit Forum[61] - The company is expanding its market presence, targeting new regions in Southeast Asia, with an investment of 50 million RMB allocated for this initiative[135] Industry Trends and Consumer Behavior - The per capita consumption of aquatic products in China is expected to reach 14.6 kg in 2022, surpassing poultry, eggs, and beef, making it the second-largest source of animal protein after pork[55] - The rapid development of the pre-prepared dishes industry is increasing the demand for aquatic products, indicating a steady growth in consumption in the future[55] - The aquaculture feed industry is expected to continue growing for a considerable period, driven by increasing domestic demand for aquatic products[57] Research and Development - The company plans to enhance product R&D capabilities, focusing on improving product quality and developing new products to meet market demands[125] - The company approved 5 new feed additive products, including two new biopeptides, and expanded the application scope of 4 existing feed additives[96] - The company has made significant adjustments to its technical and R&D systems to enhance product quality awareness across all production bases[125] Corporate Governance and Shareholder Commitments - The actual controller and shareholders of Guangdong Yuehai Feed Group Co., Ltd. have committed to a 36-month lock-up period for their shares following the company's IPO, with automatic extensions if share prices fall below the issue price[148] - The company has a clear strategy for managing share reductions to maintain market stability and investor confidence[151] - The company has established a framework for ensuring that any competitive activities by shareholders are ceased if they conflict with the company's interests[159] - The company emphasizes the protection of shareholder rights, particularly for minority shareholders, by adhering to regulations for shareholder meetings and ensuring transparency in major decisions[181] Social Responsibility and Environmental Commitment - The company maintains a strong commitment to social responsibility, participating in public welfare activities and supporting employees in need[185] - The company has implemented effective pollution control measures, ensuring that emissions meet national and local environmental standards[199] - The company has adopted low-noise equipment and implemented measures to reduce noise pollution in its operations[176] - The company has taken measures to reduce carbon emissions, although specific details were not disclosed[180] Employee Management and Corporate Culture - The total number of employees at the company's main subsidiaries is 3,142, with a total of 3,366 employees receiving compensation during the reporting period[192] - The company conducts regular external market salary surveys and internal compensation analyses to optimize its salary performance incentive policies[193] - The company has implemented a robust human resources management system, ensuring compliance with labor laws and providing various employee benefits[182]

Financial Performance - Total operating revenue for Q1 2023 was CNY 957,027,319.93, a decrease of 2.3% compared to CNY 982,109,491.97 in the same period last year[18]. - The company's operating revenue for the first quarter was CNY 957,027,319.93, a decrease of 2.55% compared to the same period last year[42]. - Total operating costs for Q1 2023 were CNY 977,115,284.51, down 3.7% from CNY 1,014,910,071.38 year-over-year[18]. - Net profit for Q1 2023 was CNY -49,548,883.07, compared to CNY -42,844,756.72 in Q1 2022, reflecting a decline in profitability[21]. - The net profit attributable to shareholders was CNY -48,541,051.13, representing a decline of 16.44% year-on-year[42]. - The company reported a basic and diluted earnings per share of CNY -0.07 for Q1 2023, compared to CNY -0.06 in the same period last year[24]. Cash Flow - Net cash flow from operating activities changed by 369.78% compared to the same period last year, mainly due to an increase in payments for raw material purchases[1]. - The net cash flow from operating activities was CNY -115,861,221.64, a significant decrease of 369.78% compared to the previous year[42]. - Net cash flow from investing activities changed by 913.44% compared to the same period last year, primarily due to the purchase of bank wealth management products that were not redeemed[1]. - The company reported a decrease in the cash flow from investing activities, with a net cash outflow of CNY -653,705,731.17, compared to CNY -64,503,637.37 in the previous year[32]. - Net cash flow from financing activities changed by 229.37% compared to the same period last year, mainly due to an increase in short-term borrowings and funds received from the initial issuance of stocks in the previous year[1]. Assets and Liabilities - Total current assets amounted to CNY 3,528,608,083.71, compared to CNY 3,228,583,906.95 at the beginning of the year[11]. - Total assets reached CNY 4,850,357,660.08, compared to CNY 4,548,175,278.75 at the beginning of the year[11]. - The total assets and total liabilities as of the end of Q1 2023 were CNY 4,850,357,660.08 and CNY 2,140,621,466.95 respectively, indicating a significant asset base[18]. - The company's total liabilities increased to CNY 2,140,621,466.95, up from CNY 1,758,208,286.55 year-over-year, indicating a rise in financial obligations[18]. - The total equity attributable to shareholders of the parent company decreased to CNY 2,713,729,578.46 from CNY 2,792,952,545.59, showing a decline in shareholder value[18]. Borrowings and Financial Obligations - Short-term borrowings increased to CNY 1,267,126,354.55 from CNY 777,261,967.92 at the beginning of the year[11]. - The company's short-term borrowings increased by 63.02% compared to the end of the previous year, primarily due to increased borrowing[6]. - Financial expenses increased by 78.80% compared to the same period last year, attributed to the rise in borrowings[6]. - The company’s expected liabilities increased by 155.18% compared to the end of the previous year, mainly due to an increase in impairment provisions for guarantees provided[6]. Inventory and Receivables - Accounts receivable stood at CNY 1,344,107,287.87, slightly down from CNY 1,380,382,911.68 at the beginning of the year[9]. - Inventory remained stable at CNY 660,526,870.21, compared to CNY 660,984,717.97 at the beginning of the year[9]. - Prepayments increased by 212.83% compared to the end of the previous year, mainly due to an increase in advance payments for raw material purchases[25]. - Contract liabilities rose by 136.31% compared to the end of the previous year, mainly due to an increase in advance payments from customers[6]. Tax and Impairment - Income tax expenses decreased by 245.94% compared to the same period last year, primarily due to an increase in deferred income tax provisions[1]. - Credit impairment losses increased by 291.59% compared to the same period last year, mainly due to an increase in accounts receivable leading to higher bad debt provisions[1]. Other Information - Guangdong Yuehai Feed Group Co., Ltd. reported its Q1 2023 results, which are unaudited[49]. - The company confirmed that there are no instances of classifying non-recurring gains and losses as recurring gains and losses as per the disclosure guidelines[45]. - The financial indicators and major accounting data have shown changes, although specific figures are not provided in the available content[46].

Group 1: Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a leading enterprise in aquatic feed research, production, and sales, with annual sales exceeding 1 million tons [1] - The company specializes in various aquatic feeds, including shrimp feed and marine fish feed, and ranks among the top three in the specialty aquatic feed industry [1] Group 2: Market Challenges - The aquatic feed industry has faced significant challenges this year, including a 20%-30% increase in raw material prices such as grains, soybean meal, and fish meal [1] - Adverse weather and disease have also impacted the company's net profit, leading to a noticeable decline compared to the same period last year [3] Group 3: Performance and Adjustments - In Q3, the company achieved a net profit of 97.2 million yuan, a 1.33% increase year-on-year, with a gross margin around 10% [3] - Sales volume for specialty aquatic feed reached 260,000 tons, while regular aquatic feed sales were 150,000 tons in Q3 [3] Group 4: Strategic Initiatives - The company implemented significant organizational changes to enhance market engagement and customer service, which improved operational performance [3] - Adjustments to product formulations and production techniques were made to standardize quality and control costs [3] Group 5: Capacity Expansion Plans - Current production bases are established in multiple provinces, with ongoing projects to expand capacity, including a 150,000-ton facility in Zhongshan and a 120,000-ton facility in Hainan [4] - Future plans include further capacity enhancement and exploring upstream and downstream business opportunities in the aquatic industry [4] Group 6: Industry Outlook - The company maintains a cautiously optimistic outlook for shrimp and specialty fish feed in the coming year, driven by increasing consumer demand for high-protein aquatic products [5] - Innovations in farming techniques, such as high-density and factory farming, are expected to boost production levels and farmer engagement [5] Group 7: Risk Management - The company is focused on reducing credit impairment losses, primarily from accounts receivable, with a bad debt rate around 1% [6] - Strategies include enhancing cooperation with banks to provide financial support to farmers and implementing a standardized credit assessment system [6]

Revenue and Profitability - Revenue for the third quarter reached ¥2,837,986,093.30, an increase of 6.45% compared to the previous quarter[6] - Net profit attributable to shareholders was ¥97,202,759.61, up 1.33% from the previous quarter, but down 72.27% year-on-year[6] - Total operating revenue for the period reached ¥5,572,151,897.05, an increase of 6.20% compared to ¥5,246,795,340.03 in the previous period[38] - Net profit for the period was ¥44,526,800.41, a significant decrease of 72.03% from ¥159,234,917.58 in the previous period[44] - Earnings per share (EPS) for the period was ¥0.07, down from ¥0.27 in the previous period[47] Assets and Liabilities - The company's total assets increased by 44.83% year-on-year, reaching ¥5,324,058,313.03[9] - As of September 30, 2022, the company's total current assets amounted to CNY 4,036,022,254.39, an increase from CNY 2,505,993,896.02 at the beginning of the year[28] - Total liabilities as of September 30, 2022, were CNY 2,604,904,084.05, up from CNY 1,443,112,392.92 at the beginning of the year, indicating an increase of approximately 80.0%[34] - The company's total assets reached CNY 5,324,058,313.03, compared to CNY 3,676,160,321.49 at the beginning of the year, representing an increase of about 44.7%[31] Cash Flow - The net cash flow from operating activities showed a significant decline of 343.55%, totaling -¥401,479,230.24[6] - Cash flow from operating activities totaled ¥4,236,692,282.60, a decrease from ¥4,381,092,981.15 in the previous period[48] - The net cash flow from operating activities was -$401.48 million, a significant decrease from $164.85 million in the previous period, indicating a decline in operational performance[54] - Total cash outflow from operating activities amounted to $4.64 billion, compared to $4.22 billion in the prior year, reflecting an increase of approximately 10%[54] Shareholder Equity - The company’s equity attributable to shareholders increased by 21.73% year-on-year, amounting to ¥2,722,200,779.16[9] - The company's total equity attributable to shareholders increased to ¥2,722,200,779.16 from ¥2,236,302,397.30, reflecting a growth of 21.76%[37] - The company's equity increased from CNY 600,000,000.00 to CNY 700,000,000.00, reflecting a growth of approximately 16.7%[34] Operational Performance - The basic earnings per share decreased by 13.21% to ¥0.14, while diluted earnings per share remained the same[6] - Total operating costs amounted to ¥5,510,171,792.16, up from ¥5,038,584,531.75, reflecting a rise of 9.35%[38] - Research and development expenses were ¥134,645,481.33, down from ¥147,493,839.89, a decrease of 8.69%[41] Investments and Financing - The company’s investment income decreased by 36.07% compared to the same period last year, mainly due to reduced bank wealth management income[14] - Cash inflow from investment activities was $1.83 billion, down from $4.88 billion, representing a decrease of about 62%[54] - Cash inflow from financing activities totaled $1.45 billion, a substantial increase from $489.49 million, indicating a growth of approximately 196%[54] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,922[18] - The minority interest in equity improved to -¥3,046,550.18 from -¥3,254,468.73, indicating a reduction in losses[37] Other Financial Metrics - The company reported a 254.76% increase in prepaid accounts, primarily due to increased advance payments for raw material purchases[14] - Accounts receivable increased significantly to CNY 2,035,635,551.50 from CNY 768,275,372.77, marking an increase of approximately 164.5%[28] - Inventory decreased to CNY 548,196,539.00 from CNY 630,566,287.12, reflecting a decline of about 13.0%[28] - The company paid $304.77 million in employee-related cash payments, slightly up from $304.32 million, indicating stable employee compensation[54] - Tax payments increased to $29.60 million from $26.14 million, reflecting a rise of approximately 9%[54]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[21]. - The net profit attributable to shareholders for the same period was RMB 150 million, up 10% compared to the previous year[21]. - The company's operating revenue for the reporting period was ¥2,734,165,803.75, an increase of 5.95% compared to the same period last year[28]. - The net profit attributable to shareholders was -¥52,883,877.75, representing a decrease of 182.73% year-over-year[28]. - The net cash flow from operating activities was -¥229,157,227.43, a decline of 160.16% compared to the previous year[28]. - The gross margin for the first half of 2022 was reported at 25%, a slight decrease from 27% in the same period last year[21]. - The gross profit margin decreased by 5.22% year-on-year due to the inability to raise product prices in line with rising production costs[48]. - The sales revenue from the feed industry accounted for 100% of total operating revenue, with feed sales reaching ¥2,556,349,375.36, a 6.39% increase year-on-year[58]. Market Expansion and Development - The company plans to expand its market presence by increasing production capacity by 20% in the next fiscal year[21]. - Future guidance estimates a revenue growth of 10-15% for the second half of 2022, driven by increased demand in the aquaculture sector[21]. - The company plans to enhance market development, focus on product quality, and strengthen customer service to improve customer loyalty and create new profit growth points[49]. - The company is actively pursuing strategic initiatives, including potential mergers and acquisitions, to strengthen its market position[200]. Research and Development - The company has invested RMB 50 million in R&D for new product development, focusing on specialized aquatic feeds[21]. - The company continues to focus on research and development in the special aquatic feed sector, maintaining a strong market position[41]. - The company emphasizes R&D investment to achieve raw material substitution and formula adjustments, aiming to strengthen its continuous innovation capability[49]. - The company has established a stable R&D team with expertise in various fields, supported by multiple research centers and partnerships with universities and research institutes[51]. - Continued investment in research and development is anticipated to drive innovation and support long-term growth objectives[200]. Risk Management and Challenges - The management highlighted the importance of risk management strategies in response to market volatility and supply chain challenges[21]. - The company faced risks from market competition and raw material price fluctuations, with a focus on controlling costs through centralized procurement and adjusting product prices accordingly[91]. - The aquaculture industry is affected by natural disasters and diseases, but the company's product range has strong risk resistance, minimizing overall operational impact[95]. - The company is enhancing its accounts receivable risk management system to mitigate the risk of uncollectible receivables, focusing on optimizing customer structure to increase the proportion of high-end, quality clients[95]. Environmental and Social Responsibility - The company has implemented measures to minimize dust emissions during production processes, utilizing closed equipment and negative pressure systems[112]. - The company has adopted low-noise equipment and installed soundproofing measures to reduce noise pollution from high-noise machinery[112]. - The company does not discharge production wastewater externally, with all wastewater being treated and recycled within the facility[112]. - The company has actively participated in rural revitalization efforts since 2015, establishing over 30 "Yuehai Villages" to support local farmers and enhance agricultural practices[120]. - The company has maintained a strong commitment to environmental protection, adhering to relevant laws and regulations without being classified as a major polluter[117]. Corporate Governance and Shareholder Relations - The company has ensured the protection of shareholder rights by adhering to corporate governance standards and maintaining transparent communication with stakeholders[116]. - The company has not reported any significant legal disputes or violations during the reporting period, indicating a stable operational environment[128]. - The company has not engaged in any non-operational fund occupation by major shareholders or related parties during the reporting period[124]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[187]. Financial Position and Investments - Total assets increased by 31.08% to ¥4,818,834,060.24 compared to the end of the previous year[28]. - The company reported a significant increase in accounts payable, reaching RMB 539,996,320.56, which is an increase of 11.21%[67]. - The company reported a total investment of RMB 127,823,994.62 during the reporting period, representing a 103.84% increase compared to RMB 62,706,591.04 in the same period last year[69]. - The company raised a total of RMB 53,800 million through its initial public offering, with a net amount of RMB 48,007.95 million after deducting issuance costs of RMB 5,792.05 million[77]. - The company has a total external guarantee balance of 4,499.27 million CNY as of the end of the reporting period[149].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[24] - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[24] - The company's operating revenue for 2021 was ¥6,725,075,889.05, representing a 15.08% increase compared to ¥5,843,720,740.62 in 2020[33] - The net profit attributable to shareholders for 2021 was ¥187,724,348.10, a decrease of 2.60% from ¥192,741,812.61 in 2020[33] - The net cash flow from operating activities increased significantly by 793.27% to ¥629,887,826.61 from a negative cash flow of -¥90,857,033.11 in 2020[33] - The company reported a basic earnings per share of ¥0.31 for 2021, down 3.13% from ¥0.32 in 2020[33] - The weighted average return on equity for 2021 was 8.71%, a decrease of 0.55% from 9.26% in 2020[33] - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15%[145] - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[156] Market Expansion and Strategy - The company is focusing on expanding its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[24] - User data indicates a growth in customer base by 10% year-on-year, reaching 500,000 active users[24] - The company plans to increase the production capacity of aquaculture feed, driven by the growing market demand and technological advancements[51] - The company is exploring potential acquisitions to enhance its product offerings and market reach, with a budget of RMB 200 million allocated for this purpose[24] - Market expansion plans include entering three new provinces in China by the end of 2022, aiming for a 5% market share in these regions[145] - The company has completed the acquisition of a local competitor for 300 million RMB, expected to enhance production capacity by 20%[145] - The company is expanding its market presence, targeting a 10% increase in market share in the southern region of China[156] Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at improving feed efficiency[24] - R&D expenses for 2021 amounted to 1.91 billion yuan, reflecting a year-on-year increase of 3.24%[66] - The company has established a strong R&D team and multiple technology centers to enhance product innovation and quality[57] - The company is investing 200 million RMB in R&D for new product development, focusing on sustainable feed solutions[145] - A new technology for feed efficiency is being developed, projected to reduce costs by 15% once implemented[145] - The company developed new feed products aimed at preventing white spot syndrome in shrimp, enhancing market competitiveness[94] - The company is focusing on optimizing feed formulations to reduce costs and improve growth rates in aquaculture[94] Sustainability and Environmental Commitment - The management emphasizes a commitment to sustainability and reducing environmental impact through innovative feed solutions[24] - The company is committed to sustainability, with plans to reduce carbon emissions by 30% over the next five years[145] - The management team emphasizes a commitment to sustainability, aiming for a 50% reduction in carbon emissions by 2025[156] Operational Efficiency and Cost Management - The company has implemented a centralized procurement model for major raw materials, improving procurement efficiency and cost control[52] - The company has established a procurement center to centralize the purchase of key raw materials and will adjust product prices based on raw material cost fluctuations to mitigate the impact of price volatility[124] - The company aims to enhance its management efficiency in 2022 to cope with high raw material costs, intense market competition, and recurring pandemic impacts, focusing on cost reduction, quality improvement, and efficiency enhancement[120] - The company has a risk management system in place to address potential credit risks associated with accounts receivable, particularly due to the long growth cycles and capital-intensive nature of special aquatic farming[125] Governance and Management - The company has established a comprehensive governance structure, including a board of directors and supervisory board, to oversee its operations[131] - The company has committed to avoiding any competitive activities with its controlling shareholders through signed agreements[132] - The company has a complete independent business system and decision-making rights, with no competition or unfair transactions with controlling shareholders[132] - The company’s management team is composed of individuals who do not hold positions outside the company, ensuring focus on its operations[131] - The company has not reported any related party transactions that could be deemed unfair or competitive[132] Employee Development and Compensation - The total number of employees at the end of the reporting period was 3,423, with 226 in the parent company and 3,197 in major subsidiaries[190] - The company emphasizes a competitive compensation policy based on "value contribution," linking individual salary levels to personal performance and company profitability[190] - The training program includes a comprehensive talent development system with 260 courses covering various professional lines, enhancing employee skills and leadership development[195] - The training initiatives are designed to be practical and diverse, utilizing both online and offline methods to enhance employee capabilities effectively[195]