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惠生国际(01340) - 2021 - 年度财报
HUISHENG INTLHUISHENG INTL(HK:01340)2022-05-12 13:09

Financial Performance - The group recorded revenue of approximately RMB 81,300,000 for the year ended December 31, 2021, an increase of about 174.0% or RMB 51,600,000 compared to the same period last year[22]. - The gross profit for the year was approximately RMB 2,600,000, a turnaround from a gross loss of approximately RMB 2,100,000 in 2020[22]. - The pork business revenue increased by approximately RMB 38,300,000 or 210.4% to about RMB 56,500,000 in 2021[22]. - The pipeline business revenue also rose by approximately RMB 13,300,000 or 116.3% to about RMB 24,800,000 in 2021[22]. - The company reported a net loss of RMB 31,883,000 for 2021, an improvement from a net loss of RMB 36,726,000 in 2020, reflecting a reduction in losses by approximately 13%[196]. - Total revenue for the year ended December 31, 2021, was RMB 81,291,000, a significant increase from RMB 29,663,000 in 2020, representing a growth of 174%[194]. - Gross profit for 2021 was RMB 2,602,000, compared to a gross loss of RMB 2,083,000 in 2020, indicating a turnaround in profitability[194]. - The total comprehensive loss for the year was RMB 23,220,000, down from RMB 40,750,000 in 2020, marking a 43% reduction in comprehensive losses[196]. Operational Challenges - The company faced operational losses in its pork business due to rising breeding costs and disease impacts, leading to a cautious recovery strategy[17]. - The company has outsourced slaughtering processes to independent facilities to improve cost efficiency amid high breeding costs[18]. - The company is exploring potential investment opportunities to mitigate business risks and enhance profitability during challenging market conditions[21]. - The company aims to balance resources between its pork and pipeline businesses to maximize shareholder returns[21]. Business Diversification - The company has diversified into the sales and distribution of pipeline system products, achieving a gross margin of approximately 10% to 20%[19]. - The company is committed to seeking various fundraising channels to expand its pipeline business[19]. - The company is renting out one of its farms to generate rental income while maintaining operations at another farm[18]. Financial Position - As of December 31, 2021, the group maintained cash and bank balances of approximately RMB 131,600,000, compared to RMB 14,900,000 in 2020[25]. - The current ratio as of December 31, 2021, was 5.4, up from 1.8 in 2020[25]. - The group had no outstanding borrowings as of December 31, 2021, compared to RMB 19,000,000 in 2020[26]. - Cash and cash equivalents increased significantly to RMB 131,581,000 in 2021 from RMB 14,936,000 in 2020, indicating improved liquidity[199]. - The company’s non-current assets decreased to RMB 206,250,000 in 2021 from RMB 519,050,000 in 2020, primarily due to the reduction in receivables[199]. Governance and Compliance - The company has adopted the corporate governance code and continuously reviews its governance standards[104]. - The board consists of six members, including two executive directors and four independent non-executive directors, meeting the regulatory requirements[106]. - The company has established a mandatory provident fund plan for eligible Hong Kong employees, contributing 5% of relevant income, capped at HKD 30,000 per month[66]. - The company has no significant disputes with employees, suppliers, or customers during the fiscal year ending December 31, 2021[76]. - The company has no serious violations of relevant laws and regulations that significantly impact its business and operations as of December 31, 2021[72]. Risk Management - The company confirmed the effectiveness of its risk management and internal control systems through regular annual reviews, with no significant issues identified[146]. - The board is responsible for the overall effectiveness of the risk management and internal control systems, ensuring compliance with legal and regulatory requirements[144]. - The company has a dedicated internal audit team that independently assesses the adequacy and effectiveness of risk management and internal control systems[144]. Shareholder Relations - The company maintains open communication with shareholders and investors, utilizing financial reports and annual general meetings as primary channels for information dissemination[157]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting to address specified matters[158]. - The company has established procedures for shareholders to submit agenda items for general meetings, ensuring transparency and engagement[163]. Environmental Commitment - The company is committed to environmental sustainability, having installed waste treatment facilities at its farms and production bases[71].