张裕A(000869) - 2022 Q4 - 年度财报

Financial Performance - In 2022, the company's operating revenue was CNY 3,918,941,160, a decrease of 0.86% compared to CNY 3,953,067,583 in 2021[22] - The net profit attributable to shareholders was CNY 428,681,411, down 14.28% from CNY 500,102,606 in the previous year[22] - The basic earnings per share decreased by 13.70% to CNY 0.63 from CNY 0.73 in 2021[22] - The total assets at the end of 2022 were CNY 13,171,506,378, a decline of 2.23% from CNY 13,472,009,754 at the end of 2021[22] - The net cash flow from operating activities was CNY 868,876,647, down 22.79% from CNY 1,125,382,658 in 2021[22] - The company achieved operating revenue of CNY 3,918,941,160 in 2022, a decrease of 0.86% compared to the previous year, falling short of the target of at least CNY 4.3 billion[63] - The net profit attributable to shareholders was CNY 42,868,000, representing a decline of 14.28% year-on-year[63] - The gross profit margin for the overall sales was 57.11%, down from 58.32% in 2021[63] Market Conditions - The company experienced a significant decline in the domestic wine market due to economic conditions, with both imported and domestic wine sales continuing a "double decline" trend[28] - The company is facing challenges due to rising raw material and packaging costs, impacting profitability across the industry[28] - The company operates in the wine and brandy production industry, which is currently in a growth phase despite facing challenges such as declining domestic wine consumption and intense market competition[29] - The average consumption level of wine in China is currently low, but it is expected to improve as consumer preferences shift towards healthier lifestyles[29] - The company anticipates a gradual recovery in wine consumption as income levels rise and consumer attitudes evolve[29] - The company has faced risks related to market competition and economic fluctuations, which may impact future performance[35] Product Development and Innovation - The company launched new products under the Long series and developed a co-branded gift box for the Aifeibao brand, enhancing its product offerings[63] - The company has obtained 3 national invention patents and 1 utility model patent, enhancing its innovation capabilities[84] - New product development and technological advancements are prioritized to meet evolving consumer demands[1] Distribution and Sales Network - The company primarily utilizes a distribution model, with around 4,000 distributors delivering products to sales terminals[53] - The company has a total of 4,913 sales terminals, with a net increase of 82 terminals during the reporting period[54] - The company has established a nationwide marketing network, supported by both marketing personnel and distributors, enhancing its market reach[58] - The company is focusing on expanding its market presence and exploring potential mergers and acquisitions to enhance growth[1] Cash Dividend and Financial Policies - The company plans to distribute a cash dividend of CNY 4.5 per 10 shares, based on a total of 685,464,000 shares[13] - The company reported a positive net profit available for distribution to shareholders but did not propose a cash dividend distribution plan during the reporting period[134] - The company plans to distribute at least 25% of its distributable profits as dividends, with a minimum of 30% in cash over the last three years[187] - The company has not proposed any adjustments to its cash dividend policy during the reporting period[133] Governance and Internal Control - The company has established a sound organizational structure with independent operation of the board of directors and supervisory board, ensuring no subordinate relationship with controlling shareholders[138] - There were changes in the board of directors, including the election of new independent directors and the appointment of a new assistant general manager[143] - The board of directors attended meetings with a high attendance rate, indicating active participation in governance[126] - The company has not reported any significant internal control deficiencies during the reporting period[136] - The internal control self-assessment report for 2021 was approved, indicating a commitment to maintaining robust governance practices[153] Environmental Responsibility - The company has established a wastewater treatment plant that processes production and domestic wastewater before discharge[192] - The company adheres to national pollution discharge standards for its boiler emissions, including SO2 and NOX[192] - The company has implemented measures to reduce carbon emissions, as detailed in its annual social responsibility report[172] - The company has established a comprehensive environmental self-monitoring plan[193] - The company did not face any administrative penalties related to environmental issues during the reporting period[194] Financial Management - Financial expenses decreased significantly by 65.74% due to increased interest income and reduced expenditures[82] - Net cash flow from investing activities rose by 18% as cash received from investment recoveries increased[82] - Net cash flow from financing activities declined by 23.06% primarily due to a decrease in cash received from borrowings[82] Audit and Compliance - The domestic accounting firm engaged is KPMG Huazhen, with an audit fee of 2.05 million yuan[199] - The continuous service period of the domestic accounting firm is 4 years[199] - There are no significant changes in accounting policies or estimates compared to the previous year's financial report[198] - There are no overseas accounting firms involved in the audit process[199] - The company has not disclosed any information regarding delisting risks following the annual report[200]