Financial Performance - In the fiscal year 2023, the company reported a revenue of RMB 1,657.3 million, a decrease of 5.07% from RMB 1,745.8 million in fiscal year 2022[9]. - The gross profit for fiscal year 2023 was RMB 95.1 million, down 21.7% from RMB 121.5 million in fiscal year 2022[9]. - The net loss attributable to shareholders was RMB 8.4 million, an improvement of 45.8% compared to a loss of RMB 15.4 million in fiscal year 2022[21]. - The basic loss per share for fiscal year 2023 was RMB 1.9, compared to RMB 3.6 in fiscal year 2022[9]. - The company experienced a decrease in other income by RMB 29.5 million due to a decline in fair value changes of biological assets[21]. - The company reported a loss attributable to owners of approximately RMB 84 million for the fiscal year 2023, a decrease of RMB 70 million or 45.8% compared to a loss of RMB 154 million in fiscal year 2022[40]. - Revenue decreased by 5.1% from approximately RMB 1,745.8 million in fiscal year 2022 to approximately RMB 1,657.3 million in fiscal year 2023[40]. - The overall gross profit margin declined from 7.0% in fiscal year 2022 to 5.7% in fiscal year 2023[50]. - The company reported a significant increase in user data, with a growth rate of over 20% year-on-year in the last quarter[30]. Revenue Breakdown - Revenue from processed food increased by 8.0% to approximately RMB 797.6 million, driven by new product development and customer acquisition[45]. - Revenue from chilled and frozen chicken rose by 7.5% to approximately RMB 643.7 million, supported by increased market demand and expanded production capacity[46]. - Revenue from chilled and frozen rabbit meat increased by 17.4% to approximately RMB 188.0 million, fueled by growing overseas demand[47]. - Revenue from other products decreased by 88.7% to RMB 28.1 million due to a strategic reduction in pet food production and sales[48]. - Revenue from China increased by 2.6% to RMB 1,220.2 million, contributing 73.6% of total revenue, while export revenue decreased by 21.5% to RMB 437.1 million[49]. Strategic Initiatives - The company aims to increase investment in new product development, focusing on high value-added processed foods to enhance competitiveness[23]. - The company plans to optimize its product mix and strengthen cost management to improve overall performance[23]. - The company will continue to strengthen its core capabilities and expand new sales channels to enhance overall performance[23]. - Future outlook indicates a projected revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[36]. - The company is investing in R&D for new technologies, with a budget allocation of approximately 10 million and 100 million in net profit for the upcoming year, representing a 20% increase from the previous year[36]. - The company plans to enhance its digital marketing efforts, with a budget increase of 15% to improve customer engagement[36]. Governance and Management - The company appointed Ms. Lang Ying as the Executive Director and CEO on January 26, 2024, bringing 10 years of financial management experience[28]. - The board of directors has undergone significant changes, with multiple resignations and appointments occurring between July 2023 and January 2024[91]. - The company emphasizes compliance with international financial reporting standards to ensure accurate financial statements reflecting its condition[92]. - The chairman and CEO roles are held by the same individual, Mr. Fang Yu, who has extensive experience in the financial industry, providing strong leadership for the company[94]. - The board has established various committees to enhance internal controls and effectively monitor the company's operations[94]. Risk Management - The company has maintained a robust risk management and internal control system, which is continuously reviewed[186]. - The board is responsible for assessing and determining the nature and extent of risks the group is willing to take to achieve its strategic objectives[134]. - The group engaged external consultants to perform internal audit functions to ensure the effectiveness and efficiency of its risk management and internal control systems[135]. Shareholder Communication - The company has established a shareholder communication policy to ensure effective communication with shareholders and encourage their participation in meetings[187]. - The company encourages shareholder participation in annual meetings, where board members will address questions[155]. - The board has reviewed the effectiveness of the shareholder communication policy, which is deemed effective due to good communication with shareholders in the past[155]. Employee and Board Composition - The company has a gender ratio of approximately 49.3% male to 50.7% female among its employees as of December 31, 2023[145]. - The company has maintained a diverse board composition, balancing skills, experience, and knowledge necessary for effective decision-making[167]. - The nomination committee will continue to review the effectiveness of the board's diversity policy and seek suitable candidates to ensure diversity, including gender diversity[167].
康大食品(00834) - 2023 - 年度财报