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朱老六(831726) - 2022 Q4 - 年度财报
ZhuLaoLiuZhuLaoLiu(BJ:831726)2023-04-23 16:00

Production and Capacity Expansion - In May 2022, the company commenced construction of a sauerkraut production workshop with an annual capacity of 10,000 tons, which was completed and put into operation in December 2022[3]. - The production capacity for fermented bean curd, cooking wine, and sauerkraut will increase by 15,000 tons, 1,500 tons, and 10,000 tons respectively after the completion of the fundraising investment project[13]. - The company has increased production capacity for fermented bean curd and rice wine by 15,000 tons and 1,500 tons respectively, but risks exist if downstream customer demand is lower than expected[139]. - The company is focusing on brand development for its sauerkraut products, leveraging the opportunity created by the ban on large-scale production methods in Northeast China[122]. Financial Performance - The company's operating revenue for 2022 was approximately ¥304.45 million, representing an increase of 8.09% compared to ¥281.66 million in 2021[27]. - The net profit attributable to shareholders for 2022 was approximately ¥64.04 million, reflecting an increase of 11.24% from ¥57.57 million in 2021[27]. - The gross profit margin decreased to 32.29% in 2022 from 35.71% in 2021[27]. - Operating profit reached 85.29 million yuan, reflecting a growth of 12.11% compared to the previous year[46]. - The company's main business revenue for 2022 was approximately 302.86 million, an increase of 8.03% compared to 2021[71]. - Net profit increased by 11.24% to ¥64,038,583.73, with operating profit growing by 12.11% to ¥85,286,409.60[67]. Market and Sales Strategy - The company has been actively expanding its market presence in North China and East China, with initial positive results, although challenges remain in market development[11]. - The company’s revenue from distributors accounted for over 99% of total operating income, indicating a reliance on distributor management for sales performance[11]. - The company added 40 new distributors in 2022, representing a 16.06% increase from the beginning of the year[47]. - The company plans to open 30 new distributors in 2023, with 15 already completed by the end of Q1 2023, bringing the total to 300 distributors[123]. Risks and Challenges - The company has faced risks related to food safety control, market competition, and raw material price fluctuations, which could significantly impact operational performance[9][10]. - The company’s inventory net value was 130.14 million yuan, representing 34.71% of current assets, highlighting potential inventory management risks[11]. - The company faces risks related to the inability to digest the newly added production capacity if downstream customer demand is lower than expected[13]. - The company has experienced risks related to the potential loss of key personnel, which could negatively impact daily operations[138]. Research and Development - The company initiated 3 new R&D projects in 2022, including spicy fermented bean curd and rose-flavored fermented bean curd, which are currently in trial production[48]. - The total number of patents owned by the company increased to 20 from 13 in the previous period, with invention patents rising from 2 to 3[99]. - The company has entered into collaborative R&D projects with Jilin University, focusing on the development of Northeast sauerkraut fermentation agents and the analysis of bitter substances in fermented tofu[100]. - The company is increasing R&D investment and collaborating with universities to strengthen its product development capabilities[124]. Compliance and Governance - The audit firm, Dahua CPA, provided a standard unqualified audit opinion for the 2022 financial statements, confirming compliance with accounting standards[105]. - The company has not reported any significant litigation or arbitration matters during the reporting period[146]. - The company has committed to not engaging in competitive activities that could harm its business interests, as per the commitments made by the actual controller and major shareholders[159]. - The company guarantees that the public offering prospectus and other disclosure materials do not contain false records, misleading statements, or significant omissions, and will bear legal responsibility for their accuracy and completeness[184]. Social Responsibility and Community Engagement - The company has arranged employment for over 10 disabled individuals, contributing to social responsibility efforts[111]. - The company is committed to fulfilling its obligations regarding compensation for any legal liabilities incurred[161]. Market Trends and Industry Insights - The restaurant industry in China experienced rapid growth, with revenue increasing from CNY 2.56 trillion in 2013 to CNY 4.67 trillion in 2019, and rebounding to CNY 4.69 trillion in 2021 after a pandemic dip[51]. - The market size of the fermented bean curd industry in China was CNY 60 billion in 2017, with an expected compound annual growth rate of 6%, reaching CNY 70 billion by 2020[56]. - The preference for savory flavors among consumers is evident, with 67.1% of users favoring savory condiments in 2021, indicating a strong market for the company's fermented bean curd products[56]. - The trend towards upgrading condiments is clear, with increasing consumer demand for convenience and health, driving product innovation and modernization in production standards[58].