BAIYANG(002696)2023-04-26 16:00Financial Performance - Baiyang Investment Group reported no cash dividends or stock bonuses for the year 2022[5]. - The company's operating revenue for 2022 was ¥3,213,988,743.45, representing a 10.63% increase compared to ¥2,905,284,846.26 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥62,338,831.59, a significant increase of 132.33% from ¥26,831,589.52 in 2021[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥39,628,592.96, up 341.10% from ¥8,984,027.83 in 2021[21]. - The net cash flow from operating activities reached ¥176,602,946.46, a remarkable increase of 893.32% compared to -¥22,261,380.21 in 2021[21]. - The basic earnings per share for 2022 was ¥0.18, reflecting a 125.00% increase from ¥0.08 in 2021[21]. - Total assets at the end of 2022 were ¥2,890,431,931.03, a 5.69% increase from ¥2,734,832,347.48 at the end of 2021[21]. - The net assets attributable to shareholders at the end of 2022 were ¥1,427,466,959.92, up 4.57% from ¥1,365,128,128.33 at the end of 2021[21]. - The company achieved total operating revenue of CNY 3.21 billion, a year-on-year increase of 10.63%[52]. - The net profit for 2022 was CNY 67.59 million, representing a growth of 110.77% compared to 2021[52]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[4]. - The management discussion section outlines potential operational risks and corresponding mitigation strategies[4]. - The company has established a foreign exchange hedging management system to mitigate exchange rate risks[83]. - The company’s risk control measures include working only with large commercial banks with legal qualifications for foreign exchange hedging[83]. - The company has identified various risks associated with derivative investments, including market risk and internal control risk[82]. Corporate Governance - The company adheres to legal and regulatory requirements in its governance structure, ensuring effective communication and decision-making processes among shareholders and board members[102]. - The company maintains an independent and complete business system, with no interference from the controlling shareholder in decision-making or operational activities[105]. - The company has established a robust financial management system, ensuring independent accounting and tax compliance, with no shared bank accounts with the controlling shareholder[108]. - The company emphasizes transparency in information disclosure, utilizing platforms like the "Panorama Roadshow" for investor relations and ensuring timely and accurate communication[107]. - The company has no related party transactions that harm the interests of the company or other shareholders, maintaining operational independence from the controlling shareholder[106]. Research and Development - Research and development expenses rose to CNY 6.52 million, a 42.23% increase year-on-year, reflecting the company's commitment to innovation[54]. - The company completed key R&D projects, including the optimization of fish collagen peptide processing technology, which is expected to enhance profitability[68]. - The company is actively researching new feed formulations for various fish species to improve growth performance and reduce costs[68]. - The company has achieved significant breakthroughs in core technologies, supporting the launch of competitive products to increase market share[69]. - The company is committed to enhancing its research and development capabilities for new products and technologies to drive future growth[106]. Environmental Responsibility - The company emphasizes environmental protection and has implemented effective wastewater treatment measures, ensuring compliance with discharge standards and committing to sustainable development practices[164]. - The company has established a comprehensive environmental emergency response plan, which has been filed with local environmental authorities[159]. - The company has implemented a 24-hour online monitoring system for wastewater indicators[158]. - The company has developed a unique circular economy model for tilapia, utilizing by-products to create fish meal and fish oil, aiming to maximize the value of tilapia[164]. - In 2022, the company received several honors, including "AAA Credit Enterprise" and recognition as a key brand in Guangxi exports, reflecting its commitment to integrity and social responsibility[165]. Market Strategy - The company aims to enhance its product sales scale and market share, focusing on a comprehensive service model integrating breeding, feed, and processing[94]. - The future strategy includes developing specialized aquatic feed products and expanding upstream control over feed raw materials to optimize industry ecology and support agricultural development[94]. - The company is exploring potential acquisitions in the aquaculture sector to enhance its product offerings and market reach[127]. - The company plans to upgrade its fish preservation and fish meal processing techniques to enhance product quality and develop new products such as enzymatic fish paste and low-temperature fish meal[95]. - The company aims to explore potential mergers and acquisitions to strengthen its market position[118]. Employee Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 9.1459 million[131]. - The company adheres to a performance-based compensation system for senior management, linking income levels to company performance and work objectives[129]. - The total number of employees at the end of the reporting period was 3,061, with 150 in the parent company and 2,911 in major subsidiaries[140]. - The company has implemented targeted training plans for various employee levels, focusing on skills such as management techniques and quality control[142]. - The company has a clear organizational structure, with independent functioning of the board of directors, supervisory board, and internal departments[109]. Shareholder Structure - The company has experienced a significant shift in its shareholder structure, with the controlling shareholder changing to the Ocean Industry Investment Fund and the actual controller being the Qingdao State-owned Assets Supervision and Administration Commission[20]. - During the reporting period, the company held several shareholder meetings with participation rates of 13.22% for the first temporary meeting, 35.33% for the annual meeting, and 30.02% for the second temporary meeting[110]. - The company has a clear asset ownership structure, with no guarantees provided to the controlling shareholder and no asset occupation that could harm the company's interests[108]. - The company’s management team is composed of dedicated professionals who do not hold positions or receive compensation from the controlling shareholder or its affiliates[109]. - The company has not engaged in any significant mergers or acquisitions during the reporting period, focusing instead on organic growth and market expansion[106].