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正味集团(02147) - 2022 - 年度财报
ZHENGWEI GROUPZHENGWEI GROUP(HK:02147)2023-04-26 14:15

Financial Performance - The company recorded total revenue of approximately RMB 356.8 million for the fiscal year ending December 31, 2022, representing a 4.3% increase from RMB 342.0 million in the previous fiscal year[9]. - Total revenue for the fiscal year 2022 was approximately RMB 356.8 million, an increase of 4.3% from RMB 342.0 million in 2021[23]. - Sales cost for the fiscal year 2022 was approximately RMB 237.6 million, up 1.7% from RMB 233.5 million in 2021[24]. - Gross profit for the fiscal year 2022 was approximately RMB 119.3 million, a 10.0% increase from RMB 108.5 million in 2021, with a gross margin of 33.4% compared to 31.7% in 2021[25]. - Net profit for the fiscal year 2022 was approximately RMB 46.7 million, compared to RMB 48.3 million in 2021, with a net profit margin of 13.1%[33]. - Other income decreased from approximately RMB 4.2 million in 2021 to about RMB 0.8 million in 2022, primarily due to a reduction in government subsidies[26]. - Administrative expenses increased from approximately RMB 23.1 million in 2021 to about RMB 27.7 million in 2022, mainly due to an increase in employee costs and R&D expenses[29]. Revenue Sources and Sales Strategy - Sales of snacks and dried food products increased by approximately RMB 69.92 million, while sales from snack and dried food trading decreased by approximately RMB 55.07 million[9]. - Revenue from supermarkets for the fiscal year 2022 was approximately RMB 221.7 million, accounting for about 62.1% of total revenue, down from 67.5% in the previous fiscal year[52]. - The company aims to strengthen its sales network in Southwest China, particularly in Sichuan and Chongqing, to increase brand recognition and sales opportunities[49]. - The company plans to open promotional booths in 14 supermarkets over the next two years, with one promoter stationed at each booth to enhance brand visibility[51]. - The company plans to strengthen marketing efforts and expand sales channels to increase revenue[12]. - Marketing efforts will include traditional media advertising and social media promotions, targeting younger consumers through events at educational institutions[53]. Production and Capacity Expansion - The company operates two production facilities in Jiangxi Province, focusing on the processing and packaging of dried food and snacks[16]. - The company plans to continue investing in expanding production capacity and enriching product offerings[44]. - The new production facility will accommodate two vegetable snack production lines with an annual design capacity of approximately 3,000 tons and two meat snack production lines with an annual design capacity of approximately 3,700 tons[48]. - The company aims to expand production capacity and diversify product offerings to enhance market position[12]. Corporate Governance and Management - The company has appointed Mr. Yang Shengyao as the Chairman and CEO since March 31, 2020, and Ms. Lin Qiuyun and Mr. Li Hui as executive directors since June 20, 2022[117]. - The board of directors is responsible for formulating and approving the company's development, business strategy, policies, annual budget, and business plans[160]. - The board composition meets the requirements of having at least three independent non-executive directors, with one possessing relevant financial expertise[159]. - The audit committee consists of three members, with the chairman possessing appropriate professional qualifications as per listing rules[172]. - The board will continue to review and enhance corporate governance practices to align with the latest developments[136]. Shareholder and Financial Policies - The company does not have a fixed dividend policy, and future dividends will depend on the board's recommendations and the company's financial performance[169]. - The group did not recommend the payment of a final dividend for the fiscal year 2022, consistent with the previous year where no dividend was paid[92][94]. - The board is committed to considering dividend payments at least twice a year, based on various factors including operational performance and financial condition[93]. - The company has established multiple communication channels with shareholders to ensure timely and equal access to information[194]. Environmental and Social Responsibility - The company has implemented strict environmental protection measures to comply with current environmental laws and regulations, including policies to prevent and control pollution from waste gas, wastewater, solid waste, and dust during production[84]. - The company encourages all employees to participate in socially beneficial environmental protection activities, recognizing that a better future relies on everyone's contribution[85]. - The company will publish an Environmental, Social, and Governance (ESG) report in accordance with listing rules on the same day as the annual report[187]. Employee Relations and Workforce - The company is committed to providing attractive compensation and benefits to employees, including social security contributions as per Chinese laws[45]. - As of December 31, 2022, the company had 640 employees, a slight decrease from 659 employees as of December 31, 2021[45]. - As of the report date, 16.7% of senior management and 71.9% of the total workforce are women, reflecting the company's commitment to gender diversity[166]. Risk Management - The company faces various operational risks, including quality control, product liability claims, and raw material supply stability[144]. - The internal control system is monitored by the board, which is responsible for establishing and overseeing risk management measures to ensure operational, reporting, and compliance objectives are met[182]. - An internal audit and compliance department was established in the fiscal year 2022 to conduct regular audits and report findings directly to the audit committee[182]. Capital and Investment - The net proceeds from the share issuance amounted to approximately HKD 97.3 million, lower than the estimated net proceeds of HKD 110.7 million disclosed in the prospectus[56]. - 74.1% of the net proceeds, approximately HKD 72.1 million, is allocated for establishing a new production factory and purchasing new production lines at the Guangchang factory, expected to be completed by June 30, 2024[57]. - 15.9% of the net proceeds, approximately HKD 15.5 million, is designated for enhancing marketing efforts and expanding sales channels, with a target completion date of December 31, 2024[57]. - 10.0% of the net proceeds, approximately HKD 9.7 million, is reserved for working capital and other general corporate purposes, also expected to be utilized by December 31, 2024[57].