VTR(300381)2024-04-24 08:27Financial Performance - In 2023, the company's operating revenue decreased by 1.16% year-on-year, excluding the impact of the sold pharmaceutical segment[3]. - The net profit attributable to shareholders, after deducting non-recurring gains and losses, was -19.72 million yuan, an increase of 78.15% compared to the previous year[3]. - The company's operating revenue for 2023 was ¥796,021,979.23, a decrease of 32.20% compared to ¥1,174,006,689.90 in 2022[25]. - The net profit attributable to shareholders was -¥10,749,720.98 in 2023, representing a decline of 158.96% from ¥18,232,003.60 in 2022[25]. - The cash flow from operating activities was ¥154,399,928.23, down 38.18% from ¥249,773,827.17 in the previous year[25]. - The basic earnings per share for 2023 was -¥0.0219, a decrease of 158.87% from ¥0.0372 in 2022[25]. - The company has experienced a decline in performance due to insufficient downstream industry demand[3]. - The decline in performance was primarily due to the absence of equity sales in 2023, which had contributed approximately 60 million yuan to net profit in 2022[45]. Dividend Distribution - The company plans to distribute a cash dividend of 0.6 yuan per 10 shares (tax included) based on a total share capital of 479,194,401 shares as of December 31, 2023[6]. - The cash dividend distribution represents 100% of the total profit distribution amount, indicating a strong commitment to returning value to shareholders[172]. - The total distributable profit as of December 31, 2023, is RMB 501,062,766.35, after accounting for a net loss of RMB 10,749,720.99 for the year[174]. - The cash dividend distribution plan has been approved by the board and aligns with the company's financial status and shareholder interests[175]. Investment and R&D - The company is focusing on investment projects in biological enzyme preparations and animal nutrition, supported by national policies, but faces uncertainties due to macroeconomic changes and industry competition[6]. - The company has multiple investment projects in biological enzyme preparations and animal nutrition, with a broad market outlook[6]. - The company is actively exploring the development of high-value-added products through market research and has established a biosynthetic reactor platform[41]. - The company has made significant progress in R&D, completing over 50 projects, including breakthroughs in high-temperature phytase and acidic xylanase, which have been successfully transitioned to production[48]. - Research and development expenses were ¥99,815,349.52, slightly down by 0.05% compared to the previous year[70]. - R&D investment as a percentage of operating income rose to 12.54% from 8.51% in the previous year[72]. - The company aims to increase its R&D investment to drive innovation and improve product quality, targeting a 15% increase in R&D spending for the next fiscal year[140]. Market and Sales - The sales of feed enzymes and animal nutrition products are closely related to the cyclical nature of the livestock industry, indicating significant sales volatility[4]. - The agricultural sector faced challenges with a 4.1% decrease in pig inventory, impacting the overall profitability of the livestock industry[36]. - The company operates a direct sales model, with a marketing network covering over 60 countries and regions, and has more than 2,000 quality direct sales customers[53]. - The company is expanding its overseas marketing network, with subsidiaries in Germany and Australia, and is in the process of establishing an office in Russia[44]. - The company plans to expand its market presence and enhance product offerings, focusing on new technologies and product development[138]. - Future guidance suggests a revenue growth target of 10% for the upcoming fiscal year, driven by new product launches and market expansion strategies[140]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, including the Company Law and the Shenzhen Stock Exchange's guidelines[128]. - The board of directors consists of 7 members, including 3 independent directors, and operates through specialized committees[129]. - The company maintains independence from its controlling shareholder in terms of business operations, personnel, assets, and finances[133]. - The company has a complete and independent financial management system, with dedicated accounting personnel and independent decision-making capabilities[133]. - The company has implemented a performance evaluation and incentive mechanism for senior management, linking compensation to performance[130]. - The company emphasizes transparency in information disclosure, ensuring timely and accurate communication with investors[130]. Sustainability and Social Responsibility - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 25% over the next five years[140]. - The company actively engages in social responsibility, participating in 7 poverty alleviation or donation projects during the reporting period[192]. - The company has developed a cooperative model with over 400 farmers in Guizhou, leading to the cultivation of over 3,000 acres of crops, increasing per capita income by 50% compared to traditional crops[193]. Future Outlook - The company aims to become a benchmark enterprise in the global enzyme preparation market and a leader in China's animal nutrition and health industry[121]. - The company plans to strengthen marketing and technical service teams, expand into new markets, and enhance brand value and market influence[123]. - The company will ensure timely and quality supply by optimizing production plans and completing various project constructions in 2024[124]. - The company will focus on expanding its business while ensuring the completion of major projects in various locations by the end of 2024[124].