贵州茅台(600519) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 106.19 billion, an increase of 11.88% compared to CNY 94.92 billion in 2020[15]. - The net profit attributable to shareholders for 2021 was CNY 52.46 billion, reflecting a growth of 12.34% from CNY 46.70 billion in the previous year[15]. - The net cash flow from operating activities reached CNY 64.03 billion, marking a significant increase of 23.92% compared to CNY 51.67 billion in 2020[15]. - The total assets of the company as of the end of 2021 amounted to CNY 255.17 billion, up 19.58% from CNY 213.40 billion at the end of 2020[15]. - The net assets attributable to shareholders increased to CNY 189.54 billion, representing a growth of 17.49% from CNY 161.32 billion in 2020[15]. - The basic earnings per share for 2021 were CNY 41.76, an increase of 12.34% compared to CNY 37.17 in 2020[16]. - The company reported a total profit of CNY 74.528 billion, marking a year-on-year increase of 12.59%[25]. - The company achieved total operating revenue of CNY 109.464 billion in 2021, representing a year-on-year growth of 11.71%[25]. Cash Flow and Investments - The net cash flow from operating activities for 2021 was CNY 64.03 billion, up 23.6% from CNY 51.67 billion in 2020[140]. - The net cash flow from investment activities was negative CNY 5.56 billion, worsening from negative CNY 1.81 billion in 2020[141]. - Cash inflow from investment activities totaled CNY 19.39 billion, a significant decrease from CNY 322.08 billion in 2020[141]. - The total cash flow from investment activities was negative at CNY -5,562,445,704.34, indicating a significant increase in cash outflows[37]. - The company's cash and cash equivalents at the end of the period amounted to CNY 51,810,243,607.11, which is 43.55% higher than the previous period[39]. Research and Development - Research and development expenses increased by 22.87% to CNY 61.923 million, indicating a focus on innovation[27]. - Research and development expenses amounted to ¥190,053,124.36, representing 0.18% of total revenue[34]. - The company employed 659 R&D personnel, accounting for 2.20% of the total workforce[35]. Sales and Market Performance - The company's revenue from liquor reached ¥106,059,290,342.18, with a year-on-year increase of 11.85%[28]. - Domestic sales accounted for ¥103,440,817,492.55, with a year-on-year growth of 11.96% and a gross profit margin of 91.64%[28]. - The total production of liquor was 84,721.17 tons, reflecting a year-on-year increase of 12.72%, while sales volume was 66,438.69 tons, up by 3.72%[30]. - The total sales revenue for Maotai liquor was RMB 9,346,451,210.00, reflecting a year-on-year growth of 10.18%[44]. Governance and Compliance - The company has established a sound internal control system, continuously improving governance and compliance with regulations[60]. - The company disclosed 30 interim announcements and 4 periodic reports during the reporting period, ensuring transparency[60]. - The board of directors consists of 6 members, including 3 independent directors and 1 employee director, complying with legal requirements[60]. - The company maintains independence from its controlling shareholder, ensuring separate operations in business, personnel, assets, and finance[60]. Environmental and Social Responsibility - The company is committed to safety and environmental protection, implementing measures to reduce pollution and carbon emissions[57]. - The company invested 500 million RMB over ten years for ecological protection in the Chishui River basin, starting from 2014[94]. - The company achieved an air quality excellent rate of over 98% by promoting the use of natural gas vehicles and encouraging the replacement of employee vehicles with new energy vehicles[94]. - The company invested over 1 billion RMB in the "China Moutai · National Backbone" public welfare project, benefiting nearly 20,000 students in 2021[97]. Related Party Transactions - The total amount of related party transactions with China Guizhou Moutai Distillery (Group) Co., Ltd. reached CNY 5,193,690,831.85, accounting for 4.90% of similar transactions[101]. - The company engaged in purchasing goods from its subsidiaries, with a total of CNY 150,339,280.00, which accounted for 100% of the similar transaction amount[101]. - The company incurred a service fee of CNY 379,394.43 for comprehensive services, representing 100% of the similar transaction amount[101]. Future Outlook and Strategy - The company plans to continue its high-quality development strategy, focusing on the "Five Lines" development path outlined in its 14th Five-Year Plan[25]. - The company aims for a revenue growth of approximately 15% for the upcoming year[56]. - The company plans to invest RMB 358,316,000.00 in the sauce-flavored liquor series production technology upgrade project, with RMB 199,483,850.00 already invested[52]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational efficiency[106].