股票代码：002772 股票简称：众兴菌业 债券代码：128026 债券简称：众兴转债 天水众兴菌业科技股份有限公司 投资者关系活动记录表 编号：2023-002 特定对象调研 □分析师会议 □媒体采访 业绩说明会 | --- | --- | --- | |--------------|-----------------------|--------------------------------------------------| | 投资者关系 | □新闻发布会 □路演活动 | | | | | | | 活动类别 | □现场参观 | | | | | 其他（深圳证券交易所"踔厉奋发新征程 投教服务再 | | | | 出发"主题投教活动走进上市公司--众兴菌业） | | | | 中国证监会投资者保护局、深圳证券交易所、甘肃证监 | | 活动参与人员 | | | | | 局、西部证券及 20 | 余名中小投资者。 | 时 间 2023 年 06 月 13 日 14:30 至 16:00 地 点 众兴菌业杨陵基地 形 式 现场 上市公司接待人员 公司董事长；董事会秘书及杨陵基地负责人。 问题 1：贵公司产品主要以 ...

股票代码：002772 股票简称：众兴菌业 债券代码：128026 债券简称：众兴转债 公告编号：2023-036 天水众兴菌业科技股份有限公司 2023 年第一季度报告 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。 重要内容提示： 天水众兴菌业科技股份有限公司 2023 年第一季度报告 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经审计 □是 否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 622,909,683.16 | 488,191,571.56 | 27.60% | | 归属于上市公司股东的净利润 | 198,10 ...

Financial Performance - The company reported a cash dividend of 3.00 RMB per 10 shares for the 2022 fiscal year, maintaining the same distribution ratio as previous years[6]. - The company's operating revenue for 2022 was CNY 1,970,274,412.53, representing a 26.61% increase compared to CNY 1,556,146,725.49 in 2021[18]. - Net profit attributable to shareholders for 2022 was CNY 158,351,860.28, a significant increase of 188.08% from CNY 54,968,005.10 in 2021[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 179,126,371.50, up 480.39% from CNY 30,863,203.78 in 2021[18]. - The net cash flow from operating activities reached CNY 493,702,411.60, a turnaround from a negative cash flow of CNY -413,681,209.90 in 2021, marking a 219.34% increase[18]. - Basic and diluted earnings per share for 2022 were both CNY 0.40, reflecting a 185.71% increase from CNY 0.14 in 2021[18]. - Total assets at the end of 2022 were CNY 6,569,141,307.16, a slight increase of 0.27% from CNY 6,551,297,202.04 at the end of 2021[18]. - The net assets attributable to shareholders at the end of 2022 were CNY 3,381,602,576.16, up 4.09% from CNY 3,248,600,124.87 at the end of 2021[18]. - The company achieved a gross profit margin of 25.45% in the agricultural planting industry, up from 18.51% in the previous year, indicating a 6.94% increase[64]. - The company reported a total investment commitment of 90,290,000 CNY for various projects, with a cumulative investment of 56,465,000 CNY as of the reporting date[94]. Business Operations - The company operates in the agricultural technology sector, specifically focusing on edible fungi, with no changes in its main business since its listing[17]. - The company has not undergone any changes in its controlling shareholders since its establishment[17]. - The company has established a production capacity of 1,105 tons per day for edible mushrooms, with 745 tons for enoki mushrooms and 360 tons for button mushrooms, positioning it among the industry leaders[55]. - The company employs a factory-based production model, utilizing modern industrial facilities and advanced technology to create optimal growing conditions for mushrooms[45]. - The company has established a research and development center for mushroom biotechnology, equipped with advanced monitoring and data collection systems for production processes[50]. - The company has implemented a centralized procurement model to control costs and ensure stable production, focusing on quality and supplier capabilities[47]. - The company has adopted a dealer sales model, with product risk fully transferred to dealers upon acceptance of goods, and a deposit system for fixed dealers based on 5-10 days of sales[49]. - The company is focusing on a multi-variety development strategy centered on enoki and button mushrooms, enhancing its product quality and profitability[59]. Market and Industry Insights - The market for edible mushrooms is influenced by seasonal demand, with the second quarter typically being a low season for consumption[37]. - The price of enoki mushrooms saw a significant year-on-year increase starting in the third quarter of 2022 due to market supply and demand dynamics[35]. - The company is recognized as a "National Key Leading Enterprise in Agricultural Industrialization" and has established production bases across multiple provinces in China[39]. - The company is focusing on developing new hybrid strains of mushrooms, which is expected to enhance product quality and meet market demands[72]. - The company aims to diversify its product offerings by exploring new edible mushroom varieties suitable for industrial production and developing health products related to mushrooms[104]. Research and Development - The company has a total of 120 patents at the beginning of the reporting period, with 7 new patents added, and 67 patents expiring by the end of the reporting period[53]. - The company has invested 100 million yuan in R&D for new technologies aimed at improving product quality and sustainability[153]. - The company plans to enhance its research and development system for mushroom strains and establish an independent strain library to provide high-quality strains to domestic and international markets[104]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's board of directors and management[5]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and performance forecasts[5]. - The company has established a transparent performance evaluation and incentive mechanism to enhance management efficiency[124]. - The company emphasizes investor relations management, actively engaging with investors through various communication channels[123]. - The company has revised several internal governance documents to strengthen its operational framework and compliance[125]. - The company maintains a complete and independent production system, with no reliance on the controlling shareholder for assets or operations[127]. Environmental Responsibility - The company is committed to environmental responsibility, following regulations such as the Environmental Protection Law and the Air Pollution Prevention Law[184]. - The company has obtained pollution discharge permits for its subsidiaries, with validity extending until December 2027 for some permits[185]. - The company has a wastewater treatment capacity of 600 m³/d, utilizing the A/O biological contact oxidation process, with all treated wastewater meeting the GB8978-1996 Class I discharge standards[187]. - The company has implemented a noise reduction strategy, achieving daytime noise levels of ≤60 dB(A) and nighttime levels of ≤50 dB(A), compliant with GB12348-2008 Class 2 standards[188]. - The company has established an emergency response plan for environmental incidents, which has been revised and filed with local environmental authorities[188]. Shareholder Engagement - The company held 3 shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations to protect the rights of minority shareholders[117]. - The participation ratio of investors in the first temporary shareholders' meeting of 2022 was 36.89%[133]. - The participation ratio of investors in the annual shareholders' meeting for 2021 was 37.04%[133]. - The total number of shares held by the chairman at the end of the reporting period was 1,324,432 shares[134]. - The company proposed a cash dividend of CNY 3.00 per 10 shares (including tax), with a total cash dividend amounting to CNY 117,876,243.90, representing 100% of the distributable profit[165][168]. Employee Management - The total number of employees at the end of the reporting period was 5,595, with 4,862 in production roles[158]. - The company has a comprehensive employee welfare program, including health management, safety training, and social insurance benefits[192]. - The employee stock ownership plan involved 255 employees holding a total of 9,000,000 shares, accounting for 2.21% of the company's total shares[170]. - The company has a performance bonus system that includes monthly assessments based on production output and annual evaluations based on operational goals[147]. Challenges and Risks - The company faces risks from industry competition leading to price declines, and it plans to leverage brand influence and product quality to enhance brand recognition and pricing power[108]. - The company is exposed to seasonal fluctuations in sales prices and profits, and it aims to diversify its product range and extend the edible mushroom industry chain to mitigate these risks[109]. - The company faced challenges in project implementation due to rising material costs and fluctuating sales prices, impacting overall profitability[95].

| 股票代码：002772 | 股票简称：众兴菌业 | | | --- | --- | --- | | 债券代码：128026 | 债券简称：众兴转债 | 公告编号：2023-029 | 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2023 年 03 月 27 日（星期一）16:00 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。公司将在 2022 年度业绩说明会上对投资者普遍关注的问 题进行回答。 （问题征集专题页面二维码） 1 / 2 天水众兴菌业科技股份有限公司 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。 天水众兴菌业科技股份有限公司（以下简称"公司"）已于 2023 年 03 月 21 日披露了《2022 年度报告》。为便于广大投资者进一步了解公司 2022 年度经 营情况，公司定于 2023 年 03 月 28 日（星期二）下午 15:00-17:00 在全景 ...

Production and Sales Overview - The main product is Enoki mushrooms, with a production experience of over ten years, demonstrating strong competitiveness in brand, quality, and supply stability [2][3] - In 2015, the production volume of Enoki mushrooms was 80,358.49 tons, and sales volume was 80,532.55 tons, with sales slightly exceeding production due to year-end inventory [2][3] - In Q1 2016, production was 25,169.33 tons, with sales increasing due to the commissioning of the Shandong base and the acquisition of the Sichuan base [2][3] Capacity Planning - As of the end of 2015, the daily production capacity for Enoki mushrooms was 280 tons [3][4] - Ongoing projects include a 7,200-ton annual production line for King Oyster mushrooms and a 15,000-ton line for edible mushroom polysaccharides, expected to be operational in late 2016 and 2017 [3][4] Market Competition - The edible mushroom market is growing due to rising income and changing dietary preferences, with the total output value ranking sixth in China's agriculture [3][4] - In 2014, 69 factory-based edible mushroom enterprises were closed or merged, indicating market consolidation and maturity [3][4] Cost Analysis - Operating costs from 2013 to 2015 were 172.71 million, 237.80 million, and 282.06 million CNY, accounting for 65.43%, 62.01%, and 58.82% of revenue, respectively, showing a decreasing trend [3][4] - The unit cost of Enoki mushrooms was 3.78 CNY/kg in 2013, 3.43 CNY/kg in 2014, and increased to 3.50 CNY/kg in 2015 due to rising labor and depreciation costs [4] Core Competitiveness - The company employs liquid strain technology, which offers significant advantages over traditional solid strains, including reduced production costs and shorter growth times [5][6] - The average contamination rate in 2015 was 0.13%, significantly lower than the industry average of 2% [5][6] - The biological conversion rates for various bottle sizes were above 140%, compared to the industry average of 80% [5][6] Future Strategy - The company aims to enhance its R&D capabilities, expand into international markets, and diversify its product offerings beyond Enoki mushrooms to maintain competitiveness [6] - Plans include establishing a dedicated strain library and developing health-related products from edible mushrooms [6]

Financial Performance - The company's operating revenue for Q3 2022 was ¥586,109,725.32, representing a 65.22% increase compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was ¥138,407,977.41, a significant increase of 324.92% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥126,070,410.23, reflecting a 481.99% increase compared to the previous year[4] - Total operating revenue for Q3 2022 reached CNY 1,444,886,177.51, a 36.4% increase from CNY 1,059,099,172.23 in the same period last year[23] - Net profit for Q3 2022 was CNY 118,632,727.72, compared to a net loss of CNY 49,673,704.39 in Q3 2021, marking a significant turnaround[24] - Operating profit for the quarter was CNY 124,607,575.63, a recovery from an operating loss of CNY 32,511,354.52 in the previous year[23] - Basic and diluted earnings per share for Q3 2022 were CNY 0.3055, recovering from a loss of CNY 0.1356 per share in the same quarter last year[24] - The basic earnings per share for Q3 2022 was ¥0.3572, representing a 325.51% increase compared to the same period last year[4] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥6,769,148,386.26, which is a 3.33% increase from the end of the previous year[4] - The company's total assets as of September 30, 2022, amount to ¥6,769,148,386.26, an increase from ¥6,551,297,202.04 at the beginning of the year[20][21] - Current assets total ¥3,318,633,200.95, compared to ¥3,078,539,537.78 at the beginning of the year, reflecting a growth of approximately 7.8%[20] - Total liabilities increased to ¥3,426,177,374.22 from ¥3,300,170,250.21, indicating a growth of approximately 3.8%[21] - The company's equity attributable to shareholders increased to ¥3,340,187,434.71 from ¥3,248,600,124.87, reflecting an increase of about 2.8%[21] Cash Flow - The cash flow from operating activities for the first nine months of 2022 was ¥343,699,036.51, up 127.09% year-on-year[14] - Cash flow from operating activities generated CNY 343,699,036.51, a substantial increase from CNY 151,349,616.18 in the same quarter last year[25] - The company's investment activities generated a net cash flow of -¥625,520,712.28 for the first nine months of 2022, compared to -¥244,349,843.02 in the previous year[14] - Investment activities resulted in a net cash outflow of CNY 625,520,712.28, compared to a net outflow of CNY 244,349,843.02 in the previous year[25] - Financing activities generated a net cash inflow of CNY 40,666,662.64, a decrease from CNY 580,304,161.29 in Q3 2021[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,181[16] - The largest shareholder, Tao Jun, holds 27.03% of shares, amounting to 110,136,094 shares, with 42,150,000 shares pledged[16] - The company holds 14,536,516 shares in its repurchase account, accounting for 3.57% of the total share capital[17] - The company has a total of 1.76% of shares held by the state-owned entity, Great Wall Guorong Investment Management Co., Ltd.[17] Research and Development - The company's R&D expenses for the first nine months of 2022 were ¥9,503,019.60, an increase of 71.45% compared to the same period last year[12] - Research and development expenses increased to CNY 9,503,019.60, up 71.5% from CNY 5,542,665.57 in the prior year[23] Other Financial Metrics - The company's cash and cash equivalents decreased to ¥1,339,635,959.91 from ¥1,595,197,988.30, a decline of about 16.1%[20] - Short-term borrowings increased to ¥215,000,000.00 from ¥150,000,000.00, representing a rise of 43.3%[21] - The company's financial expenses for the first nine months of 2022 were ¥46,839,656.77, an increase of 86.29% year-on-year[12] - Total operating costs amounted to CNY 1,310,925,671.09, up 19.1% from CNY 1,100,766,880.41 year-over-year[23] Reporting and Governance - The third quarter report of Tianshui Zhongxing Mushroom Industry Technology Co., Ltd. is unaudited[27] - The board of directors meeting was held on October 11, 2022[28]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥858,776,452.19, representing a 21.92% increase compared to ¥704,358,946.32 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥20,032,000.06, a decrease of 259.85% from ¥12,531,495.37 in the previous year[21]. - The net cash flow from operating activities was ¥133,532,517.30, up 22.91% from ¥108,645,002.15 in the same period last year[21]. - The total assets at the end of the reporting period were ¥6,713,869,999.98, an increase of 2.48% from ¥6,551,297,202.04 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 1.61% to ¥3,196,155,206.45 from ¥3,248,600,124.87 at the end of the previous year[21]. - The basic earnings per share were -¥0.0517, a decline of 246.05% compared to ¥0.0354 in the same period last year[21]. - The diluted earnings per share were also -¥0.0517, reflecting the same decline as the basic earnings per share[21]. - The weighted average return on net assets was -0.62%, down from 0.45% in the previous year[21]. - The company reported a net profit excluding non-recurring gains and losses of -¥1,963,568.98, an improvement of 87.10% from -¥15,224,715.34 in the same period last year[21]. Revenue and Sales - The company achieved operating revenue of ¥858,776,452.19, representing a year-on-year growth of 21.92%[29]. - The sales revenue from button mushrooms increased by 39.95% year-on-year, amounting to ¥430,857,838.37, while enoki mushrooms saw an 8.09% increase to ¥427,918,613.82[60]. - The total revenue for the first half of 2022 reached approximately 232.5 million CNY, with a net profit of around 47.1 million CNY[86]. - The company reported a total revenue of 40 million in the first half of 2022, reflecting a year-on-year increase of 15%[136]. - The company reported a revenue of 250 million CNY for the first half of 2022, representing a year-on-year increase of 15%[142]. Production and Operations - The company operates in the edible mushroom industry, focusing on research, cultivation, and sales, with production bases established in multiple provinces[29]. - The main products include enoki mushrooms and button mushrooms, which are known for their nutritional value and culinary uses[30][32]. - The company has a daily production capacity of 1,105 tons for edible mushrooms, with 745 tons for enoki mushrooms and 360 tons for button mushrooms, ranking among the industry leaders[51]. - The company has established production bases in multiple provinces, including Gansu, Shaanxi, Shandong, Jiangsu, Henan, Jilin, Sichuan, Anhui, and Hubei, allowing it to cover major markets nationwide[51]. - The company is adopting a factory-based production model to enhance efficiency and stability in supply chains[35]. Financial Management - The increase in financial expenses was attributed to higher interest costs from project loans and increased working capital borrowings compared to the previous year[33]. - The company reported a government subsidy income of ¥10,128,482.34, which is closely related to its normal business operations[25]. - The company has significant assets pledged as collateral for loans, totaling ¥824,457,545.97[69]. - The cash and cash equivalents decreased by 173.35% to -¥265,995,560.28, largely due to increased investment and loan repayments[58]. - The company raised a net amount of RMB 902.90 million from the issuance of 9.2 million convertible bonds at a face value of RMB 100 each[75]. Market and Competition - The company faces risks from increased competition in the edible mushroom market, which may lead to price declines due to rising supply from new entrants[87]. - Seasonal fluctuations in sales prices and profits are a concern, with the second quarter typically being a low-demand period for edible mushrooms[88]. - The edible mushroom industry is experiencing increased concentration, with a significant reduction in the number of production enterprises, from approximately 498 in 2018 to about 400 in 2019, a decrease of 19.68%[47]. Research and Development - The company focuses on independent research and development, supported by a biological engineering technology research center, which is recognized as a provincial-level enterprise technology center[40]. - Research and development expenses increased to CNY 4.59 million, up from CNY 3.10 million, indicating a focus on innovation[192]. - The company plans to invest 50 million CNY in R&D for new technologies in mushroom cultivation over the next year[142]. Environmental and Social Responsibility - The company has received no administrative penalties for environmental issues during the reporting period, indicating compliance with environmental regulations[109]. - The company has employed 90 workers from impoverished areas, with total wages amounting to CNY 1.9367 million, contributing to local economic development[110]. - The company has actively participated in poverty alleviation efforts, transitioning from "blood transfusion" to "blood production" by investing in local industries[109]. Shareholder and Governance - The company held two shareholder meetings during the reporting period, with participation rates of 36.89% and 37.04% respectively[97]. - The employee stock ownership plan includes 268 participants, with a total of 9 million shares held, representing 2.21% of the company's total equity[101]. - Key management personnel maintained their shareholdings throughout the reporting period, with the chairman and general manager each holding 1.5 million shares[101]. Future Outlook - The company expects a revenue growth forecast of 20% for the second half of 2022, driven by new product launches and market expansion strategies[137]. - The company plans to continue monitoring industry trends to assess the feasibility of ongoing projects amid a sluggish edible mushroom market[80]. - The company aims to leverage its brand and product quality to enhance market presence and pricing power amidst increasing competition[87].

Financial Performance - The company's revenue for Q1 2022 was CNY 488,191,571.56, representing a 23.35% increase compared to CNY 395,772,820.20 in the same period last year[4] - Net profit attributable to shareholders decreased by 67.39% to CNY 14,162,895.37 from CNY 43,424,962.07 year-on-year[4] - The net profit after deducting non-recurring gains and losses increased by 89.67% to CNY 57,248,025.10 compared to CNY 30,182,828.36 in the previous year[4] - In Q1 2022, the company achieved operating revenue of RMB 488 million, a year-on-year increase of 23.35%[16] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was RMB 57.25 million, up 89.67% year-on-year, primarily due to increased production and sales from new projects[16] - The net profit attributable to shareholders for Q1 2022 was RMB 14.16 million, a decrease of 67.39% year-on-year, mainly due to significant losses from investment products[17] - Total operating revenue for Q1 2022 was CNY 488.19 million, an increase of 23.3% compared to CNY 395.77 million in Q1 2021[23] - Net profit for Q1 2022 was CNY 14.18 million, a decrease of 67.4% from CNY 43.43 million in Q1 2021[24] Cash Flow and Assets - The net cash flow from operating activities increased by 32.61% to CNY 128,350,085.16 from CNY 96,790,084.05 in the same period last year[4] - The company's cash and cash equivalents increased to RMB 1.70 billion from RMB 1.60 billion at the beginning of the year[19] - The net cash flow from operating activities for Q1 2022 was CNY 128.35 million, an increase of 32.6% from CNY 96.79 million in Q1 2021[28] - The cash inflow from operating activities totaled CNY 484.04 million in Q1 2022, compared to CNY 414.96 million in Q1 2021[28] - The net cash flow from investment activities was -192,884,044.82 CNY, compared to a positive cash flow of 67,023,452.15 CNY in the previous year[29] - Cash inflow from financing activities totaled 321,000,000.00 CNY, down from 622,500,000.00 CNY year-over-year[29] - The net cash flow from financing activities was 171,619,688.89 CNY, compared to 277,501,790.78 CNY in the same period last year[29] - The net increase in cash and cash equivalents was 107,085,729.23 CNY, significantly lower than the 441,315,326.98 CNY increase in the previous year[29] - The ending balance of cash and cash equivalents was 1,687,876,702.27 CNY, compared to 1,641,554,501.78 CNY at the end of the previous year[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,743,024,882.27, a 2.93% increase from CNY 6,551,297,202.04 at the end of the previous year[4] - The total liabilities increased to RMB 3.95 billion from RMB 3.64 billion at the beginning of the year[20] - Total liabilities as of Q1 2022 were CNY 3.47 billion, an increase from CNY 3.30 billion in the previous year[24] - Total equity attributable to shareholders of the parent company was CNY 3.27 billion, up from CNY 3.25 billion year-over-year[24] Investment and R&D - Research and development expenses for Q1 2022 were CNY 253,380, an increase of 36.19% compared to the same period last year[10] - R&D expenses increased to CNY 2.53 million in Q1 2022, compared to CNY 1.86 million in Q1 2021, reflecting a growth of 35.8%[24] - The company reported a significant decrease in investment income, which was CNY 32,460, down 90.29% year-on-year due to fewer investment returns from entrusted wealth management[10] - The company reported a decrease in investment income to CNY 324.58 thousand in Q1 2022, compared to CNY 3.34 million in Q1 2021[24] - The company experienced a 1,297.58% decrease in fair value changes, reporting a loss of CNY 47,802,200 in Q1 2022[10] - The company reported a significant decline in the value of its investment products, impacting overall profitability[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 47,482[13] - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, with no bonus shares or capital reserves to be converted into shares[15] Other Information - The company's inventory decreased slightly to RMB 1.17 billion from RMB 1.17 billion at the beginning of the year[19] - The company did not undergo an audit for the first quarter report[30]

Financial Performance - The total revenue for 2021 was 500 million RMB, representing a year-on-year increase of 15% compared to 2020[15]. - The net profit attributable to shareholders for 2021 was 80 million RMB, reflecting a growth of 20% from the previous year[15]. - The company's operating revenue for 2021 was CNY 1,556,146,725.49, representing a 4.92% increase compared to CNY 1,483,178,491.71 in 2020[20]. - In 2021, the company achieved total operating revenue of CNY 155,614.67 million, a year-on-year increase of 4.92%, while net profit attributable to shareholders decreased by 70.91% to CNY 5,496.80 million[44]. - The company reported a net profit of CNY 54.97 million, a significant decline of 70.91% compared to the previous year, yet it remains a leader in the industry[65]. - The company’s net profit for the year was CNY 54.32 million, despite significant cash outflows impacting operating cash flow[84]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces in 2022, aiming for a 10% increase in market share[15]. - The company aims to achieve a revenue target of 600 million RMB for 2022, indicating a growth forecast of 20%[15]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency and product offerings[15]. - The company is focused on expanding its edible mushroom production capabilities through strategic investments and partnerships[96]. - The company plans to enhance its production capacity with projects like the expansion of the Jiangsu subsidiary's mushroom cultivation facilities and the second phase of the Wuhui subsidiary's production project, which aims for an annual output of 40,000 tons of mushrooms[120]. Research and Development - Research and development expenses increased by 25% in 2021, focusing on new product innovations in the edible mushroom sector[15]. - The company is developing new mushroom strains, including a light yellow variety suitable for industrial cultivation, which is expected to open new market opportunities[80]. - The company is committed to improving its internal management and technical training to enhance mushroom cultivation technology[120]. - The company has introduced advanced technology and equipment in its production process, including temperature, humidity, and light control systems, to create an optimal growth environment for mushrooms[45]. Production and Capacity - The company has a daily production capacity of 1,105 tons, with a significant market share in the double-cultivated mushroom segment, which is becoming a new profit growth point[38]. - The company’s production capacity for edible mushrooms as of December 31, 2021, was 1,105 tons per day, with 745 tons for enoki mushrooms and 360 tons for button mushrooms, placing it at the forefront of the industry[58]. - The company has established 7 standardized production lines for double-cultivated mushrooms, with 6 already in operation, enhancing its competitive edge in the market[38]. Financial Management and Investments - The company raised a total of RMB 92,000 million through the issuance of 9.2 million convertible bonds, with a net amount of RMB 90,290 million after deducting issuance costs[104]. - The total investment amount for the reporting period reached ¥273,890,000, representing an increase of ¥28,446,019.42 or 862.84% compared to the previous year[94]. - The company has pledged fixed assets totaling ¥199,197,346.62 as collateral for long-term loans from Lanzhou Bank amounting to ¥92 million[93]. - The company has engaged in long-term borrowing activities, with various subsidiaries pledging assets for loans totaling over ¥2.9 billion[93]. Corporate Governance - The company has revised its governance structure to comply with relevant laws and regulations, ensuring better operational efficiency[121]. - The company has implemented a comprehensive internal control system to ensure compliance with relevant laws and regulations, maintaining high standards of corporate governance[146]. - The company maintains complete independence from its controlling shareholder in terms of assets, business operations, personnel, and financial management[147][151]. - The company has established a robust investor relations management system, ensuring timely and accurate communication with investors[145]. Sustainability and Environmental Practices - The company is committed to sustainable practices, utilizing waste mushroom substrate as fuel in its production process, thereby promoting a circular economy[59]. - The management team emphasized a focus on sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[169]. - The company is addressing the risk of raw material price increases by optimizing its procurement strategies and maintaining stable supply channels[131]. Employee Management and Development - The total number of employees at the end of the reporting period was 5,588, with 459 in the parent company and 5,129 in major subsidiaries[182]. - The company has established a comprehensive salary system based on efficiency, fairness, and performance, with salaries consisting of basic, position, duty, performance wages, and various bonuses[183]. - The training system is tiered and focuses on enhancing employees' skills and business capabilities through onboarding, safety, and job training[184]. Challenges and Risks - The competitive landscape is intensifying, particularly for enoki mushrooms, leading to reduced profitability due to increased production capacity and market competition[37]. - The company faces risks from increased competition leading to price declines, and it plans to leverage its brand influence and product quality to mitigate this risk[126]. - Seasonal fluctuations in sales prices and profits pose a risk, but the company is diversifying its product offerings and extending its supply chain to reduce the impact of these fluctuations[127].