Financial Performance - The Group's revenue increased by 27.6% to approximately RMB 27.5 billion in 2022 compared to 2021, driven by higher contributions from food additives, animal nutrition, and colloid segments [2]. - Overall gross profit rose by 84.7% to approximately RMB 7.2 billion in 2022, primarily due to increases in gross profit from food additives, animal nutrition, and colloid segments [2]. - Profit attributable to shareholders amounted to approximately RMB 3.9 billion, representing an increase of 201.5% compared to 2021 [2]. - Basic earnings per share was RMB 152.34 cents, up from RMB 50.55 cents in 2021 [4]. - Return on equity improved to 24.9% in 2022, compared to 10.1% in 2021 [2]. - Total revenue for 2022 reached RMB 27,474,639,000, a 27.5% increase from RMB 21,539,841,000 in 2021 [44]. - Gross profit for the same period was approximately RMB 7,212,467,000, representing an increase of 84.7% from RMB 3,905,300,000 in 2021 [129]. - Profit attributable to shareholders increased by 201.5% to approximately RMB 3,861,078,000 in 2022 compared to RMB 1,280,640,000 in 2021 [129]. Dividends - The Board proposed a final dividend of HK 29.0 cents and a special final dividend of HK 4.1 cents per share, resulting in a full-year dividend of HK 69.7 cents per share, with a payout ratio of 40% [2]. - Proposed final dividend for 2023 is HKD 735,422,000 (equivalent to RMB 643,789,000), representing HK29.0 cents (RMB 25.4 cents) per share, up from HK11.7 cents (RMB 9.5 cents) in 2021 [77]. - The total dividends paid in 2022 reached 1,554,874 RMB'000, a substantial increase from 447,477 RMB'000 in 2021 [76]. Assets and Liabilities - Total assets increased to RMB 26.39 billion in 2022 from RMB 21.51 billion in 2021 [11]. - Total liabilities increased to RMB 10,895,000, up 23.9% from RMB 8,833,052 in the previous year [12]. - Current liabilities rose to RMB 9,387,995, a 74.5% increase from RMB 5,373,665 in 2021 [12]. - Non-current liabilities decreased significantly to RMB 1,507,005, down 56.5% from RMB 3,459,387 in 2021 [12]. - Total equity and liabilities reached RMB 26,388,624, an increase of 22.5% from RMB 21,510,806 in the previous year [12]. - Cash and cash equivalents rose to RMB 7.01 billion in 2022, compared to RMB 3.54 billion in 2021 [11]. Segment Performance - The Group operates through five segments: food additives, animal nutrition, high-end amino acids, colloid, and other products, with performance assessed based on gross profit [39]. - Revenue from food additives segment was RMB 13,300,548,000, up 28.9% from RMB 10,388,668,000 in 2021 [44]. - Animal nutrition segment revenue increased to RMB 9,581,198,000, a 25.7% rise from RMB 7,619,865,000 in 2021 [44]. - The colloid segment's revenue was approximately RMB 2,238.7 million, a significant increase of 114.7% from 2021, driven by higher sales volume and ASP of xanthan gum, which reached RMB 31,421 per tonne, up 65.6% [145]. - The high-end amino acid segment reported revenue of approximately RMB 1,201.2 million, a decrease of 15.1% from 2021, with gross profit declining by 34.6% to approximately RMB 384.2 million [144]. Costs and Expenses - Selling and marketing expenses increased by 25.4% to support growth initiatives [131]. - Finance costs surged by 183.7% to approximately RMB 489.9 million in 2022 compared to RMB 172.0 million in 2021 [132]. - Staff costs increased by approximately RMB 315.5 million or 28.1%, reaching approximately RMB 1,436.5 million in the Year [170]. Cash Flow and Financing - As of December 31, 2022, the Group's net cash inflow from operating activities was approximately RMB 3,600.1 million, an increase from RMB 2,774.4 million in 2021 [178]. - The total bank borrowings of the Group amounted to approximately RMB 5,953.1 million as of December 31, 2022, up from RMB 4,227.0 million in 2021 [179]. - The Group obtained a syndicated loan of up to $400,000,000 with a term of 36 months and an interest rate of 1.80% plus LIBOR [177]. Economic Environment - The overall economic environment in China showed a GDP growth rate of 3.0% in 2022, with uncertainties due to the COVID pandemic and geopolitical conflicts [117]. - The International Monetary Fund (IMF) forecasts global economic growth at 2.9% for 2023, down from 3.2% in 2022, while China's economic growth is expected to be approximately 5.0% in 2023, up from 3.0% in 2022 [187][190]. Corporate Governance and Compliance - The company adheres to the corporate governance code as outlined in the Listing Rules, with compliance noted for the year 2022 [197]. - The company confirmed that there is no use of forced labor in its production processes [197]. Future Outlook - The Group plans to continue its "Dual High-quality Objectives" strategy, focusing on high-quality internationalization and maintaining operational excellence in existing production capacity [191]. - The Group aims to establish three regional marketing centers in America, Europe, and Southeast Asia to better serve overseas customers [191].
阜丰集团(00546) - 2022 - 年度业绩