SMAC(SH:600073)2021-03-30 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 404,643,836.33 for the year 2020, with a cumulative distributable profit at year-end of RMB 1,452,181,862.86[6] - The proposed cash dividend for 2021 is RMB 1.30 per 10 shares, totaling RMB 121,904,831.36, which represents a cash dividend payout ratio of 30.13%[6] - The company's operating revenue for 2020 was approximately ¥23.87 billion, an increase of 1.98% compared to ¥23.40 billion in 2019[26] - Net profit attributable to shareholders for 2020 was approximately ¥404.64 million, representing a 10.55% increase from ¥366.04 million in 2019[26] - Basic earnings per share for 2020 were ¥0.43, up 10.26% from ¥0.39 in 2019[26] - The weighted average return on equity increased to 9.69% in 2020, up from 8.31% in 2019, reflecting a 1.38 percentage point increase[26] - The company's total assets at the end of 2020 were approximately ¥14.78 billion, a 7.66% increase from ¥13.73 billion at the end of 2019[26] Operational Highlights - The net cash flow from operating activities increased significantly by 127% to approximately ¥2.21 billion in 2020, compared to ¥973.02 million in 2019[26] - The company successfully sold 773,500 pigs in 2020, ensuring stable operations despite challenges from African swine fever and COVID-19[51] - The canned food business saw a 22% increase in shipment volume compared to the previous year, demonstrating resilience amid the pandemic[55] - The company has improved production efficiency through technological upgrades and controlled product costs via centralized procurement in the food sector, focusing on brand IP operations and joint promotions to enhance brand awareness[36] Market Position and Strategy - The company maintains a leading position in the domestic market for meat products and has a significant presence in the fresh meat sales and distribution sector in the Yangtze River Delta region[35] - The company aims to become a leading meat food holding group in China with global influence, emphasizing safety, quality, and convenience in its product offerings[35] - The meat products market in China has significant growth potential, with increasing demand for diverse meat products driven by rising living standards and health consciousness among consumers[39] - The company is adapting to market trends by emphasizing health, safety, and online shopping, which aligns with consumer preferences for high-protein meat products[40] Research and Development - Research and development expenses rose by 29.19% to ¥56.11 million, compared to ¥43.44 million in the previous year[66] - The total R&D expenditure was CNY 56,114,089.64, representing 0.24% of operating revenue, with 299 R&D personnel, making up 4.52% of total staff[77] - The company emphasizes the development of new products and innovative packaging to attract younger consumers and enhance brand vitality[86] Risk Management and Compliance - The company emphasizes the importance of risk factors that may impact future performance, as detailed in the board's discussion and analysis[10] - The company has confirmed that there are no violations in decision-making procedures regarding external guarantees[8] - The company is addressing the dual risks of African swine fever and COVID-19, ensuring strict safety measures in production and supply chains[117] - The company has ensured that all non-operating fund occupations by its controlling shareholders have been resolved, with no outstanding amounts as of the reporting date[128] Environmental and Social Responsibility - The company is committed to green development, focusing on ecological protection and resource conservation, with specific actions taken to reduce emissions and improve environmental standards[164] - The company has established a three-tier product quality and food safety network, with 367 food safety management personnel, including 134 with bachelor's degrees and 17 with master's degrees[164] - The company provided support to nearly 2,000 medical staff in Hubei during the pandemic, showcasing its commitment to social responsibility[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 70,234, an increase from 68,060 at the end of the previous month[196] - The top shareholder, Shanghai Yimin Food Factory (Group) Co., Ltd., held 298,386,000 shares, representing 31.82% of total shares[196] - The second-largest shareholder, Bright Food (Group) Co., Ltd., held 55,978,874 shares, accounting for 5.97% of total shares[196]