Three Squirrels(SZ:300783)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was ¥9,770,215,328.66, a decrease of 0.24% compared to 2020[32]. - Net profit attributable to shareholders for 2021 was ¥411,108,814.08, an increase of 36.43% from ¥301,322,695.95 in 2020[32]. - The net profit after deducting non-recurring gains and losses was ¥319,626,374.50, reflecting a 30.69% increase from ¥244,571,725.05 in 2020[32]. - The company's cash flow from operating activities decreased by 50.92% to ¥588,467,807.05 in 2021 from ¥1,199,090,381.60 in 2020[32]. - Basic earnings per share for 2021 increased by 37.33% to ¥1.03 from ¥0.75 in 2020[32]. - Total assets at the end of 2021 were ¥5,032,694,470.80, a 14.35% increase from ¥4,401,185,272.09 at the end of 2020[32]. - The company reported a weighted average return on equity of 19.49% for 2021, up from 15.16% in 2020[32]. - Total revenue for the company reached 139.67 billion CNY, with a year-on-year growth of 6.39%[56]. - The company reported a total revenue of 4.37 billion yuan from its regional distribution business, with a gross margin of 24.41%[71]. - The company's total revenue for the reporting period was 9.77 billion yuan, a slight decrease of 0.24% year-on-year[93]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2.20 RMB per 10 shares to all shareholders, based on a total of 401,000,000 shares[5]. - The company repurchased shares worth 174.62 million yuan to implement a stock incentive plan, enhancing core talent retention[92]. Market Position and Growth - The company has maintained its position as the leading nut seller in China for five consecutive years[2]. - The snack food industry is projected to grow at a compound annual growth rate of approximately 7.3% from 2020 to 2025, with nuts expected to grow at 9.0% during the same period[41]. - The company achieved a total sales revenue of 9.77 billion yuan in 2021, maintaining the top position in the snack category across major e-commerce platforms[43]. - The company has established itself as a leading brand in the nut snack market, with over 10 billion yuan in sales for its flagship product, Daily Nuts, and nearly 20 other products exceeding 1 billion yuan in sales[44]. - The company has a strong bargaining power due to large-scale procurement, but remains exposed to operational risks from significant fluctuations in raw material prices[140]. Research and Development - Research and development expenses for the company reached 57.54 million yuan in 2021, positioning it among the top in the Chinese snack food industry[45]. - The company has applied for 1,042 copyrights and holds 404 patents, with a high authorization rate in the snack food sector[47]. - The company has a technical team of 200 members, including 1 academician and 2 provincial-level technical leaders, enhancing its R&D capabilities[82]. - R&D investment in 2021 amounted to ¥57,543,707.16, representing 0.59% of operating revenue, an increase from 0.54% in 2020[109]. Supply Chain and Distribution - The company has established a comprehensive supply chain management system covering R&D, procurement, production, and logistics, enhancing its operational efficiency[52]. - The company has established 8 distribution centers in major cities, focusing on self-operated warehousing and outsourced transportation[71]. - The company has implemented strict inventory management regulations to control expired and overdue products[70]. - The company focused on offline distribution channels, partnering with nearly 300 distributors and entering major retail chains, covering almost 300 cities[89]. Online and Offline Sales - Online sales through third-party e-commerce platforms generated 64.79 billion CNY, accounting for 66.31% of total revenue[57]. - The gross profit margin for online sales improved to 34.60% in 2021, compared to 33.01% in 2020[56]. - The average order value for online sales decreased to 70.21 CNY in 2021, down from 78.09 CNY in 2020[56]. - Offline retail channels accounted for 82% of the snack food market in 2020, indicating their continued dominance despite the rise of e-commerce[42]. Corporate Governance - The company has a robust governance structure in place, complying with relevant laws and regulations to protect shareholder rights and interests[149]. - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirements[151]. - The company has established various committees within the board, with independent directors holding a majority in most committees[151]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors[151]. Employee Engagement and Welfare - The total number of employees at the end of the reporting period is 4,613, with 2,084 in the parent company and 2,529 in major subsidiaries[195]. - The company invested 1.5 million in health check-ups and commercial insurance for employees, enhancing their sense of security[200]. - Over 100 team-building events were organized to foster a strong collaborative atmosphere among employees[200]. - The company conducted 15 diverse employee experience activities throughout the year, enhancing employee engagement and satisfaction[200]. Future Plans and Strategies - The company aims to focus on the nut industry and plans to enhance its product offerings, emphasizing health-oriented food development[134]. - In 2022, the company plans to accelerate its transformation by expanding offline distribution channels and establishing exclusive distributors in major food wholesale markets[134]. - The company intends to upgrade its core products centered around nuts, enhancing product quality and competitiveness through specialized production lines[135]. - The company plans to explore potential mergers and acquisitions to strengthen its market position[163].