ANJI FOOD(603696)2021-04-20 16:00Financial Performance - The company's operating revenue for 2020 was CNY 420,400,962.26, a slight decrease of 0.21% compared to CNY 421,296,738.60 in 2019[22]. - Net profit attributable to shareholders increased by 23.41% to CNY 52,817,549.90 from CNY 42,796,999.75 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 38,280,536.06, up 20.29% from CNY 31,824,767.80 in 2019[23]. - The net cash flow from operating activities was CNY 35,477,844.98, a decrease of 6.41% compared to CNY 37,905,922.33 in 2019[23]. - Total assets at the end of 2020 were CNY 625,656,593.73, down 1.81% from CNY 637,189,417.54 at the end of 2019[23]. - The net assets attributable to shareholders decreased by 4.31% to CNY 565,616,535.55 from CNY 591,089,966.56 in 2019[23]. - Basic earnings per share increased by 22.22% to CNY 0.22 in 2020 compared to CNY 0.18 in 2019[24]. - The weighted average return on equity rose by 2.05 percentage points to 9.14% in 2020 from 7.09% in 2019[24]. - Total revenue for Q4 2020 reached CNY 133,631,949.91, marking a significant increase from previous quarters[26]. - Net profit attributable to shareholders for Q3 2020 was CNY 15,492,533.16, showing a steady growth trend throughout the year[26]. Revenue and Market Performance - The revenue from curry block products, a key focus for the company, grew by 27.32% year-on-year, mitigating the impact of the pandemic[38]. - The overseas market revenue reached CNY 18.99 million, reflecting a significant growth of 43.73% year-on-year due to channel development in Southeast Asia[39]. - The company expanded its product line to include over 500 varieties of seasonings and health foods, enhancing its market presence[31]. - The East China region generated CNY 174.70 million in revenue, reflecting a growth of 5.65%, while the overseas market saw a substantial increase of 43.73% to CNY 18.99 million[47]. - The company's main business revenue increased by 2.88% year-on-year, while the main business cost rose by 9.06%, resulting in a decrease in gross profit margin by 3.74%[44]. Cost and Expenses - The company has implemented cost-saving measures, resulting in a 41.50% reduction in sales expenses compared to the previous year[43]. - Raw material costs increased by 17.68% year-on-year, primarily due to rising market prices[50]. - The gross profit margin for the food manufacturing sector was reported at 33.95%, a decrease of 3.74 percentage points compared to the previous year[46]. - The gross profit margin for the compound seasoning segment was 26.32%, with revenue of CNY 206,896,803.55, reflecting a year-on-year increase of 1.86%[62]. Investment and Development - The company invested CNY 9.26 million in the construction of a new production facility for seasoning bone soup products, with a planned annual output of 10,000 tons[39]. - The company has established a digital management platform to enhance operational efficiency, integrating AI and automation into daily workflows[38]. - A new fully automated production line for curry blocks, capable of producing 10,000 boxes per hour, is expected to be operational by August 2021[75]. - The company plans to expand its product structure and enhance its competitiveness in the food brand market, focusing on safety, quality, customer satisfaction, and innovation[73]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 2.50 per 10 shares, totaling CNY 58,800,000 to shareholders[5]. - In 2020, the company distributed a total of 58.8 million RMB in cash dividends, which accounted for 111.33% of the net profit attributable to ordinary shareholders[80]. - The company has a profit distribution policy that emphasizes a stable cash dividend, with a minimum cash distribution of 30% of the distributable profit when the net profit is positive[79]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive profits, which requires detailed disclosure of reasons and future plans[80]. Risks and Compliance - The company faces risks related to food safety, raw material price fluctuations, and potential economic downturns affecting consumer spending[76][77]. - The company has not reported any significant accounting errors or changes in accounting policies that would impact financial statements[91]. - The company has not encountered any issues regarding the integrity of its controlling shareholders or actual controllers during the reporting period[94]. - The company has no major litigation or arbitration matters reported for the year[93]. Employee and Management Information - The company has established a scientific and standardized salary management system to enhance employee motivation and competitiveness[134]. - The company has a dedicated training management department to improve employee skills and quality, ensuring alignment with management goals[135]. - The total remuneration for all directors, supervisors, and senior management was CNY 2,391,734.25[130]. - The company employed 37 R&D personnel, making up 10.82% of the total workforce[54]. Financial Position and Assets - The total amount of cash and cash equivalents decreased by 16.92% to 89,446,951.30 from 107,659,360.51[58]. - The total liabilities rose to CNY 60,040,058.18, an increase of 30.2% compared to CNY 46,099,450.98 in 2019[167]. - The company's total assets were CNY 625,656,593.73, a decrease of 1.8% from CNY 637,189,417.54 in 2019[167]. - Shareholders' equity decreased to CNY 565,616,535.55, down from CNY 591,089,966.56, reflecting a decline of 4.3%[167].