Financial Performance - For the year 2022, the company achieved a sales revenue of RMB 3,176.3 million, an increase of 6.4% compared to RMB 2,984.6 million in 2021[10] - The net profit attributable to equity holders of the parent company was RMB 416.46 million, a decline of 11.7% from RMB 471.71 million in the previous year[19] - The gross profit margin decreased to 31.9%, down 3.8 percentage points from 35.7% in 2021[19] - Gross profit for the year was RMB 1,012,682, a decrease of 4.9% compared to RMB 1,064,390 in the previous year[22] - The net profit for the year was RMB 450,073, down 11.6% from RMB 509,571 in 2021[32] - Basic earnings per share for the year was RMB 0.0499, compared to RMB 0.0563 in the previous year, reflecting a decrease of 11.4%[22] Sales and Production - The total sales volume of raw milk reached 635,451 tons, representing an increase of 8.7% from 584,787 tons in the previous year[19] - The total production of fresh milk in 2022 reached 3,932,000 tons, an increase of 6.8% from the previous year[74] - The average annual milk yield per lactating cow improved to 10.52 tons, up 2.4% from 10.27 tons in 2021[19] - The company currently operates 33 farms with a total of 136,344 dairy and beef cattle, producing 1,777 tons of fresh milk daily[75] - The total production of organic raw milk reached 468,505 tons in 2022, with one farm converted to organic production to meet growing demand[97] Assets and Liabilities - Total non-current assets as of December 31, 2022, amounted to RMB 5,412,707, an increase from RMB 5,081,779 in 2021[24] - Current assets totaled RMB 2,474,925, up from RMB 2,049,806 in the previous year, indicating a growth of 20.7%[24] - Total liabilities decreased to RMB 2,670,513 from RMB 2,862,761, a reduction of 6.7%[24] - The company's net current liabilities decreased by 75.9% to RMB 195.6 million as of December 31, 2022, compared to RMB 813.0 million in 2021[175] - The group's net debt decreased by 22.3% to RMB 891.1 million as of December 31, 2022, compared to RMB 1,147.3 million as of December 31, 2021[193] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 1.13 per ordinary share, compared to no dividend in the previous year[19] - The proposed final dividend is HKD 0.0113 per share, equivalent to approximately RMB 0.099, subject to shareholder approval[65] - The company plans to pay a final dividend of HKD 0.0113 per share for the year ending December 31, 2022, compared to no dividend in the previous year[120] Operational Developments - The company converted one more farm to organic, increasing the total number of organic farms to 20, with an average daily production of organic fresh milk reaching 1,295 tons[20] - The company launched an organic A2 milk project, conducting strict DNA testing on 20,000 cows, which successfully hit the market by the end of the year, enhancing the product matrix and promoting innovation[134] - The company has developed and successfully launched organic A2 milk by the end of the year[75] Cost and Expenses - The cost of sold inventory increased to RMB 2,163,571 thousand in 2022 from RMB 1,920,226 thousand in 2021, representing a growth of 12.7%[84] - Administrative expenses increased to RMB 141.0 million in 2022, accounting for 4.4% of sales revenue, up from 3.7% in 2021[169] - Financing costs decreased by 19.3% to RMB 57.4 million in 2022, despite a 9.6% increase in interest-bearing liabilities[170] Awards and Recognition - The company received multiple awards for its digital transformation and social responsibility initiatives, including the "Innovation in Climate Action" award from the International Dairy Federation[20] Future Outlook - The company expects to continue meeting its financial obligations in the foreseeable future based on cash flow forecasts[52] - The group aims to establish its first zero-carbon dairy farm and launch zero-carbon raw milk to the market[187]
中国圣牧(01432) - 2022 - 年度业绩