Financial Performance - Total revenue for the year reached RMB 2,090.3 million, representing a 17.7% increase compared to the same period in 2021[95]. - The group recorded a net profit of RMB 22.8 million for the fiscal year[113]. - The group's net profit for the year was RMB 22.8 million, a decrease from RMB 157.0 million in the previous year, primarily due to rising hay prices[125]. - The cash inflow from operating activities for the year was RMB 799.7 million, compared to RMB 720.1 million in the previous year[126]. - Gross profit for the year rose to RMB 521.7 million, an increase of 8.8% from RMB 479.3 million in 2021, while the gross profit margin decreased from 27.0% in 2021 to 25.0% in 2022[145]. - Other income and gains increased by 24.5% to RMB 91.0 million, primarily due to increased interest income and rental income from land leased for feed cultivation[145]. - Administrative expenses rose to RMB 135.1 million, a 16.3% increase from RMB 116.2 million in 2021, mainly due to higher wages and stock option expenses[146]. - Other expenses increased by approximately 44.7% to RMB 55.0 million, attributed to increased land rental costs and losses from the sale of assets[147]. Operational Highlights - The company aims to reduce the number of sick dairy cows and goats through improved disease prevention and management measures[3]. - The company has implemented a standardized milking procedure to ensure the quality and safety of milk produced[11]. - The company actively communicates with customers and suppliers to ensure the quality of raw milk products meets customer expectations[37]. - The company has established a product recall management procedure in compliance with national regulations[8]. - The company completed the acquisition of several assets, including goat farming facilities and land use rights for several farms, to expand its operations in the Chinese market[95]. - The company plans to continue focusing on high-quality raw milk production and strict quality control to meet the diverse demands of the market[99]. - The company aims to leverage its advantages in raw milk resources to develop specialty goat milk products and improve dairy cow quality[106]. Market Trends - The high-end raw milk market in China is expected to remain in short supply, with stable upward trends in milk prices anticipated[97]. - The overall economic recovery in China is expected to benefit the dairy industry, with significant growth opportunities for large-scale dairy enterprises[98]. - China's total milk production for 2022 was 39.32 million tons, reflecting a growth of 6.8%[94]. Employee and Management Information - The company provides a fair and safe working environment for employees, offering competitive compensation and development opportunities[25]. - The company has a gender ratio of 74.9% male employees and 25.1% female employees, which is considered reasonable[79]. - The group employed 2,241 staff as of December 31, 2022, an increase from 1,903 employees in 2021[159]. - The board of directors is composed of experienced individuals, including the chairman and CEO, with a commitment to re-election at the annual general meeting[42]. - The board's remuneration committee reviews the compensation of directors and senior management based on their responsibilities and the group's performance[185]. Strategic Initiatives - The company plans to explore new business opportunities to increase profit growth points while enhancing its core competitiveness in the dairy industry[106]. - The management team emphasized a commitment to enhancing shareholder value through strategic initiatives and operational efficiencies[191]. - The company is investing in R&D, allocating $H million towards developing sustainable farming practices and advanced dairy processing technologies[191]. - The company plans to implement new marketing strategies aimed at increasing brand awareness and customer engagement, projected to boost sales by I%[191]. Risk Management and Compliance - The board is committed to ensuring that the company's risk management policies effectively mitigate operational risks[23]. - The company strictly adheres to local safety production laws and regulations, including dairy quality safety supervision management regulations[8]. - There were no corruption complaints or lawsuits against the company or its employees during the year[16]. Shareholder Information - The company reported a total of 3,342,320,920 shares held by China Feihe Limited, representing 71.26% of the issued shares[52]. - The company has not disclosed any other entities or individuals holding 5% or more of the shares as of December 31, 2022, apart from those mentioned[53]. - The company has a stock option plan adopted on November 7, 2013, aimed at incentivizing selected participants for their contributions[55].
原生态牧业(01431) - 2022 - 年度财报