TIANMA TECH(603668)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was RMB 7,007,530,405.29, representing a 29.31% increase compared to RMB 5,419,021,956.27 in 2021[27]. - The net profit attributable to shareholders of the listed company was RMB 130,300,449.66, a 55.28% increase from RMB 83,913,431.50 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 116,007,027.99, up 57.09% from RMB 73,846,598.19 in 2021[27]. - The basic earnings per share increased by 36.36% to CNY 0.30 in 2022 compared to CNY 0.22 in 2021[29]. - The weighted average return on equity rose by 1.10 percentage points to 6.74% in 2022 from 5.64% in 2021[29]. - The total profit amounted to CNY 194,109,800, with a year-on-year increase of 22.36%[141]. - The net cash flow from operating activities decreased by 84.23% to RMB 36,130,416.11 from RMB 229,058,066.61 in 2021[27]. - The gross profit margin for the main business was 9.51%, a decrease of 0.57 percentage points year-on-year[147]. Assets and Liabilities - The total assets at the end of 2022 were RMB 7,623,152,509.35, an increase of 48.62% from RMB 5,129,167,647.28 at the end of 2021[28]. - The net assets attributable to shareholders of the listed company increased by 9.91% to RMB 2,035,418,719.81 from RMB 1,851,861,399.75 in 2021[28]. - The debt total rose by 78.67% to CNY 519,551,570, resulting in a debt-to-asset ratio of 68.15%, up by 11.46 percentage points[141]. - The company's accounts receivable increased significantly by 863.39%, reaching 24.97 million yuan, mainly due to the increase in endorsed but not yet matured receivables[171]. Business Operations - The company plans to distribute a cash dividend of RMB 0.20 per share, totaling RMB 8,722,699.52 based on the total share capital of 436,134,976 shares as of December 31, 2022[8]. - The company is advancing the construction of major aquaculture industry clusters and food bases across eight provinces, enhancing its digital and intelligent full industry chain layout for eel farming[30]. - The company is actively expanding its strategic sales network and enhancing its global strategic layout in the special aquatic feed sector[45]. - The company is focusing on ecological intelligent aquaculture for eel, anticipating a recovery in market prices due to supply-demand dynamics[49]. - The company is constructing two major 10,000-acre industrial bases and ten food bases across multiple provinces, aiming to establish a national-level modern agriculture (eel) high-tech industrial park[50]. Research and Development - The company is committed to enhancing its core competitiveness through continuous R&D investment in areas such as seedling breeding and feed formulation[58]. - The company has made significant technological breakthroughs in the research of feed for various aquatic species, improving product performance while reducing costs[59]. - The company has established partnerships with universities and research institutions to strengthen its R&D capabilities and expand its innovation team[191]. - The company has developed proprietary feed formulas and processing technologies, filling domestic technical gaps and enhancing its competitive edge in the high-end aquaculture feed market[133]. Market Trends and Challenges - The feed industry faces significant challenges due to rising raw material prices and fluctuating demand from the aquaculture sector, leading to decreased profitability across the industry[71]. - The competition in the feed industry has shifted from simple product competition to comprehensive competition across the entire industry chain, including raw material procurement and livestock management[185]. - The water aquaculture industry is moving towards scale, intensification, and modernization, with large enterprises outperforming small-scale farmers in production management and disease prevention[186]. - The processed seafood industry is evolving towards specialization and precision, with a focus on deep processing and the development of marine active substances[187]. Strategic Initiatives - The company aims to implement its first five-year plan in 2023, focusing on quality, technology, management, and service to establish itself as a world-class enterprise[190]. - The company aims to become the leader in the special aquatic feed industry by implementing the "Ten Fish" strategy, targeting to achieve top sales in ten segmented products nationally[192]. - The company plans to enhance its production processes, focusing on smart, standardized, and automated production to improve efficiency and reduce costs[198]. - The company is committed to building a complete industrial chain from "feed → seedling → breeding → animal health → food processing," ensuring safety and quality in its products[195].