ANDRE JUICE(605198)2022-03-30 16:00Financial Performance - The company's operating revenue for 2021 was RMB 871,587,320.36, representing a 3.51% increase compared to RMB 842,019,695.12 in 2020[19]. - The net profit attributable to shareholders of the listed company for 2021 was CNY 160,014,984.91, representing a 5.43% decrease from CNY 169,268,723.74 in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 99,411,853.25, an increase of 15.48% compared to CNY 86,083,955.68 in 2020[22]. - The net cash flow from operating activities was CNY 194,021,077.47, down 8.15% from CNY 211,246,862.12 in 2020[22]. - The total assets at the end of 2021 were CNY 2,464,111,598.87, reflecting a 10.78% increase from CNY 2,224,359,551.49 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 0.43, a 4.88% increase from CNY 0.41 in 2020[22]. - The company reported a total revenue of RMB 838,127,336.92 in 2019, indicating a steady growth trend over the years[19]. - The company achieved a net profit attributable to shareholders of RMB 160,014,984.91 for the year 2021, with distributable profits amounting to RMB 1,689,200,792.40 after statutory surplus reserves were deducted[152]. Risk Management - The company faces major risks including supply shortages of key raw materials, uncertainties from the global COVID-19 pandemic, and rising logistics costs[7]. - The company is dependent on a single product, which poses a risk to its operations[7]. - The company has a comprehensive risk management strategy outlined in the management discussion and analysis section of the report[7]. - The company is addressing risks related to the COVID-19 pandemic by implementing emergency measures, including logistics adjustments and customer communication regarding delivery timelines[103]. - The company is facing risks from rising logistics costs due to complex international trade environments and the ongoing pandemic, which affects shipping efficiency[105]. - The company faces exchange rate risk due to its operations primarily in China with RMB settlements and export business mainly in USD, leading to potential fluctuations in foreign currency assets and liabilities[109]. - The financial department monitors foreign currency transactions and assets to minimize exchange rate risks, utilizing forward foreign exchange contracts as a hedging strategy[109]. Corporate Governance - The company has a strong governance structure with all board members present at the meeting[5]. - The company has established a comprehensive corporate governance structure in compliance with relevant laws and regulations, ensuring effective checks and balances among its governing bodies[111]. - During the reporting period, the company held 2 shareholder meetings, 9 board meetings, and 8 supervisory meetings, demonstrating effective governance operations[112]. - The company adheres to information disclosure obligations, ensuring that disclosures are timely, accurate, and complete, thereby safeguarding investors' rights to know about significant company matters[113]. - The company has not reported any significant differences in governance compared to regulatory requirements, indicating compliance with corporate governance standards[116]. - The company has not disclosed any related party transactions that could affect its independence, maintaining a clear operational boundary[116]. - The company has established effective internal control mechanisms to enhance management efficiency and risk control over subsidiaries[158]. Research and Development - The company has invested over ¥40 million to establish a research and development center with international advanced levels, enhancing its product development capabilities[47]. - Research and development expenses rose significantly by 57.21% to ¥12,430,586.65, reflecting the company's increased investment in R&D[54][56]. - Total R&D investment accounted for 1.43% of operating revenue, with 42 R&D personnel making up 5.65% of the total workforce[73]. - The company plans to enhance its research and development for various fruit juice products to solidify its market leadership[86]. Market Expansion and Product Development - The company expanded its sales network to major countries and regions worldwide, including the US, Japan, Europe, and South America, enhancing its market presence[33]. - The company aims to continue developing new products and customer groups to increase market share in the future[33]. - The company is optimizing its customer base by actively seeking new clients through various channels, including trade shows and client visits[35]. - The company has developed a diverse product range, including concentrated apple juice, pear juice, and fructose, catering to markets in China, the US, Russia, Japan, and South Africa[42]. - The company plans to expand its product range, increasing the production of high-value-added products such as apple fructose and pear fructose, to meet diverse customer needs and increase revenue[98]. - The company aims to solidify its existing market share while exploring new emerging markets, particularly focusing on the U.S. market recovery[98]. Environmental Responsibility - The company has established wastewater treatment stations in 2004, 2007, and 2007, with successful environmental protection acceptance in 2008 and 2009[169][170]. - The company monitors pollutants including COD, ammonia nitrogen, total nitrogen, and total phosphorus in wastewater, with discharge limits set at 50 mg/L for COD and 8 mg/L for ammonia nitrogen[172]. - The company has implemented online monitoring systems for wastewater and flue gas emissions, ensuring real-time self-monitoring[172]. - The company is committed to reducing carbon emissions by converting coal-fired boilers to gas-fired boilers and installing biogas recovery equipment[176]. - The company adheres to various environmental discharge standards, including the Liaoning Province wastewater discharge standard DB21.1627-2008[172]. Shareholder Returns - The profit distribution plan approved by the board includes a cash dividend of RMB 0.50 per 10 shares, based on 357,700,000 shares[7]. - The proposed cash dividend for 2021 is RMB 0.50 per share, totaling RMB 17,885,000.00, which represents 11.18% of the net profit attributable to the parent company's ordinary shareholders[153]. - The company has established a cash dividend policy that mandates a minimum distribution of 10% of the annual distributable profits when profits are positive[152]. Employee Management - The company employed a total of 744 staff, with 171 in the parent company and 573 in major subsidiaries[146]. - The company emphasized the importance of employee training to enhance competitiveness, organizing various training programs covering safety, policy, law, and market operations[148]. - The remuneration for directors in 2021 was set at RMB 80,000 per person annually, while supervisors received RMB 50,000 per person annually[143]. Strategic Planning - The company is considering strategic acquisitions to enhance its product offerings, with a target of acquiring at least one company in the next 12 months[128]. - The company plans to utilize various financing methods, such as targeted placements and bank loans, to support sustainable development[98]. - The company is focused on expanding its market presence and developing new products, particularly in the concentrated apple juice sector[122].