Gaishi Food(BJ:836826)2022-08-21 16:00Financial Performance - The company's revenue for the current period reached ¥175,259,390.16, representing a 39.57% increase compared to ¥125,574,102.48 in the same period last year[27]. - The net profit attributable to shareholders was ¥13,543,150.39, an increase of 8.33% from ¥12,501,296.11 year-on-year[27]. - The total assets increased by 15.21% to ¥321,312,202.67 from ¥278,881,772.26 at the end of the previous year[28]. - The total liabilities rose significantly by 58.15% to ¥102,282,596.50 from ¥64,674,828.91 year-on-year[28]. - The company's gross profit margin decreased to 15.51% from 18.83% in the previous year[27]. - The net cash flow from operating activities was negative at -¥63,629,145.34, worsening by 291.88% compared to -¥16,236,743.64 in the same period last year[29]. - The weighted average return on equity based on net profit attributable to shareholders was 6.17%, down from 6.89% in the previous year[27]. - The company's inventory turnover rate decreased to 2.23 from 2.94 year-on-year[29]. - The net profit for 2022 was 13.52 million yuan, an increase of 1.04 million yuan, reflecting a year-on-year growth of 8.33%[41]. - The gross profit margin for seasoning products decreased by 2.24 percentage points to 17.03%, while the gross margin for frozen products dropped by 16.26 percentage points to 6.48%[69]. Market and Competition - Export sales accounted for 49.79% of the main business revenue in the first half of 2022, compared to 54.15% in 2021 and 48.20% in 2020[15]. - The company plans to expand its market presence and enhance product quality control in response to increasing competition from foreign enterprises[14]. - The company faces risks from intensified market competition, particularly from foreign enterprises, and is focusing on brand promotion and product development to mitigate these risks[89]. - The pre-prepared dish market in China reached a scale of 345.9 billion yuan in 2021, with a year-on-year growth of 19.8%, and is expected to reach 1,072 billion yuan by 2026[46]. - The number of pre-prepared dish-related enterprises in China is approximately 69,000, with 56.6% established in the last five years[47]. Research and Development - The company achieved a patent portfolio of 33 patents, including 5 invention patents and 28 utility model patents, as well as 8 software copyrights and 36 registered trademarks by the end of the reporting period[9]. - The company issued 2 new invention patents and 3 utility model patents during the reporting period[9]. - Research and development expenses grew by 36.11% to CNY 2,823,268.58, reflecting the company's strategic focus on market expansion[64]. - The company aims to enhance its core competitiveness by increasing R&D efforts and actively exploring new business opportunities[41]. Corporate Governance and Commitments - The company has established a fundraising management system to ensure efficient use of raised funds and enhance shareholder returns[119]. - The company commits to strictly adhere to all public commitments made regarding the issuance of stocks to unspecified qualified investors and listing on the selected tier[123]. - The actual controller and major shareholder promise to avoid any form of fund occupation or non-operational fund transactions with the company[114]. - The company will publicly disclose any unfulfilled commitments and the reasons for them in designated publications[124]. - The controlling shareholders and actual controllers promise to fulfill all public commitments and accept social supervision[123]. Employee and Labor Costs - The company's labor costs for the first half of 2022 were RMB 19,321,459.12, representing 11.02% of the operating income, compared to 10.03% in 2021 and 10.96% in 2020[15]. - The total number of employees decreased from 408 at the beginning of the period to 348 at the end, representing a reduction of approximately 14.7%[182]. - The company added 128 new employees during the reporting period, while 188 employees left, resulting in a net decrease of 60 employees[182]. - The company is focused on enhancing employee efficiency through training and performance assessments to mitigate rising labor costs[91]. Environmental and Social Responsibility - The company is actively engaged in social responsibility initiatives, including donations to charity organizations, reflecting its commitment to community support[81]. - The company adheres to strict environmental protection standards, ensuring that emissions from its operations meet regulatory requirements[82]. - The company has invested in advanced wastewater treatment technologies to comply with environmental standards and minimize pollution[84]. - The company is committed to sustainable development practices, emphasizing low consumption and low emissions in its operations[81]. Financial Management and Stock Options - The company has initiated a stock incentive plan, granting 2 million stock options at an exercise price of RMB 7.50 per share[8]. - The stock options granted under the incentive plan represent 2.60% of the current total share capital[100]. - The total cost to be amortized for the stock option plan is estimated at 619.04 million yuan, with annual amortization of 178.29 million yuan in 2022, 284.77 million yuan in 2023, 118.90 million yuan in 2024, and 37.08 million yuan in 2025[105]. - The company anticipates that the stock option expenses will have a minor impact on net profit, while the positive effects of the incentive plan on performance may outweigh these costs[105].