Company Overview - The company was listed on the Beijing Stock Exchange on October 13, 2023[5]. - The company operates multiple subsidiaries, including Baotou Chevalese Dairy Co., Ltd. and several agricultural firms[12]. - The company has a commitment to transparency and investor protection as outlined in its governance practices[10]. - The company’s annual report is available on the Beijing Stock Exchange website and the Securities Times[19]. - The company’s contact information includes a dedicated email for the board secretary, Chenyong@qishiruye.com[18]. Financial Performance - The company's operating revenue for 2023 reached ¥1,256,268,958.09, representing a 32.55% increase compared to ¥947,750,110.19 in 2022[27]. - The net profit attributable to shareholders for 2023 was ¥93,851,859.35, up 31.03% from ¥71,623,890.98 in the previous year[27]. - The total assets at the end of 2023 amounted to ¥2,215,425,510.70, reflecting an 18.86% increase from ¥1,863,922,430.11 in 2022[29]. - The company's total liabilities decreased slightly by 0.25% to ¥1,298,246,589.02 in 2023 from ¥1,301,515,033.71 in 2022[29]. - The gross profit margin for 2023 was 18.96%, down from 21.37% in 2022[27]. - The company reported a basic earnings per share of ¥0.57 for 2023, a 23.91% increase from ¥0.46 in 2022[27]. - The cash flow from operating activities for 2023 was ¥227,690,043.82, a 4.31% increase compared to ¥218,276,928.60 in 2022[29]. - The company's total equity attributable to shareholders increased by 64.30% to ¥812,987,786.49 in 2023 from ¥494,813,511.18 in 2022[29]. Production and Operations - The second phase of the milk powder project at Baotou Chevalese Dairy Co., Ltd. has been completed and put into production[4]. - The company emphasizes the use of advanced feeding technology, such as Total Mixed Ration (TMR), to improve dairy production efficiency[14]. - The company has five large-scale, modernized dairy farms, with over 22,000 dairy cows, producing around 300 tons of fresh milk daily[37]. - In 2023, the company produced approximately 460,000 tons of sugar beet and operated at 70% capacity in its sugar factory[37]. - The company’s sugar factory has a processing capacity of 5,000 tons of sugar beet per day, with an annual production capacity of 100,000 tons of white sugar[37]. Revenue Breakdown - Fresh milk sales accounted for 36.67% of total revenue in 2023, slightly down from 36.86% in 2022[37]. - Dairy product sales represented 24.43% of total revenue in 2023, compared to 28.59% in 2022[38]. - Sugar and its by-products sales made up 36.42% of total revenue in 2023, up from 31.63% in 2022[38]. Risk Management - The company has not identified any major risks of delisting or significant changes in major risks during the reporting period[11]. - The company has a robust risk management strategy to handle fluctuations in raw milk prices and supply shortages[41]. - The company prioritizes procurement from certified suppliers to ensure product quality and safety[39]. Research and Development - The company has a strong focus on R&D, with core technologies in organic conversion, yogurt product development, and standardized feeding techniques[44]. - The company is developing a student milk product aimed at meeting the nutritional needs of school children, with plans to promote it in local schools[92]. - The company is exploring new product development initiatives aimed at diversifying its product offerings[131]. Strategic Partnerships and Expansion - The company maintains a strategic partnership with Mengniu Dairy, serving as a strategic supplier of organic fresh milk[44]. - The company plans to continue expanding its operations in the dairy and sugar industries, focusing on integrated farming and supply chain efficiency[26]. - The company is currently in the process of expanding its market presence through strategic investments and partnerships in the dairy and agricultural sectors[75]. Compliance and Governance - The annual report includes a standard unqualified audit report from Tianzhi International Accounting Firm[9]. - The company’s financial report is guaranteed to be true, accurate, and complete by its senior management[8]. - The company has established a strong internal control system for revenue recognition, ensuring the accuracy and reliability of financial reporting[96]. Environmental and Social Responsibility - The company is committed to environmental protection and sustainable practices, adhering to national and local regulations[103]. - The company is engaged in social responsibility initiatives, providing job opportunities to local farmers and contributing to poverty alleviation efforts[102]. Future Outlook - Future outlook includes continued focus on product development and market expansion to enhance revenue streams and profitability[73]. - The company is exploring strategies for capital market upgrades over the next 3-5 years to support the expansion of the sugar project and the overall industry chain[110]. - The company aims to enhance the quality of sugar production while ensuring a stable supply of raw materials for its dairy processing facilities[107].
骑士乳业(832786) - 2023 Q4 - 年度财报