KCGJ(SH:600097)2022-03-31 16:00Financial Performance - In 2021, the company's net profit attributable to shareholders was CNY 190,995,948.57, representing a 35.26% increase compared to CNY 141,203,931.78 in 2020[5]. - The company's operating revenue for 2021 was CNY 1,980,317,010.95, a slight increase of 0.58% from CNY 1,968,952,164.37 in 2020[20]. - Basic earnings per share for 2021 rose to CNY 0.79, up 33.90% from CNY 0.59 in 2020[20]. - The company reported a decrease of 36.94% in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to CNY 85,141,399.58 in 2021[20]. - The weighted average return on net assets for 2021 was 9.67%, an increase from 7.74% in 2020[20]. - The net profit attributable to the parent company was 191 million RMB, an increase of 49.79 million RMB year-on-year, primarily due to increased asset disposal gains[35]. - The company reported a total equity of 2,015,940,063.58 RMB at the end of 2021, an increase from 1,914,662,498.15 RMB in 2020, reflecting growth in shareholder equity[182]. Cash Flow and Assets - The net cash flow from operating activities decreased by 31.15% to CNY 224,687,489.51 in 2021, down from CNY 326,321,656.49 in 2020[20]. - The company's total assets at the end of 2021 were CNY 2,943,664,734.66, reflecting a 4.56% increase from CNY 2,815,410,425.47 at the end of 2020[20]. - The total cash and cash equivalents at the end of 2021 were 758,019,759.18 CNY, slightly up from 757,520,487.07 CNY at the end of 2020[178]. - The company reported a total of RMB 170,180.30 million in deposits with Bright Food Group Financial Co., Ltd. during the reporting period[126]. - The company’s current assets decreased to CNY 1,328,716,817.40 in 2021 from CNY 1,433,154,763.41 in 2020, a decline of 7.31%[162]. Operational Highlights - In 2021, the company's tuna purse seine fleet caught 109,800 tons, an increase of 4.49% year-on-year, with sales volume reaching 118,100 tons, up 14.09% year-on-year, resulting in operating revenue of 1.04 billion RMB, a year-on-year increase of 10.58%[26]. - The large dragnet fleet achieved a catch of 12,300 tons, a year-on-year increase of 37.18%, with sales volume soaring to 16,600 tons, up 2,979.30% year-on-year, generating operating revenue of 83.15 million RMB, a year-on-year increase of 1,729.40%[27]. - The company completed the construction of the Zhoushan tuna processing plant, which officially began production on February 18, 2022[28]. - The company maintained a leading position in the market for sardines, small sardines, and squid, while also expanding its market presence in Vietnam, Thailand, and Ecuador through international trade exhibitions[30]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 2.40 per 10 shares, totaling CNY 57,824,774.16, based on the total share capital as of December 31, 2021[5]. - The company reported a cash dividend of 1.80 RMB per 10 shares for the year 2020, totaling 43,368,580.62 RMB distributed to shareholders[106]. - For the year 2021, the proposed cash dividend is 2.40 RMB per 10 shares, amounting to 57,824,774.16 RMB, representing 30.28% of the net profit attributable to shareholders[107]. - As of the end of the reporting period, the total number of ordinary shareholders increased to 14,582 from 14,088 at the end of the previous month[141]. Management and Governance - The company has a strong management team with extensive experience in ocean fishing operations, contributing to its stable and sustainable development[56]. - The company has implemented measures to maintain independence from its controlling shareholder, ensuring no interference in decision-making or operations[74]. - The board of directors conducted meetings in accordance with regulations, ensuring all directors fulfilled their responsibilities diligently[75]. - The company has established a robust insider information management system, with no reported insider trading incidents during the reporting period[76]. Risks and Challenges - The company has outlined potential industry and operational risks in its management discussion and analysis section[8]. - The company faces risks related to fluctuations in national policies supporting distant water fisheries, which could significantly impact its operational capabilities and profitability[69]. - The company faced risks related to the Russia-Ukraine conflict and the pandemic, potentially affecting production and cash flow[72]. Future Plans and Strategies - The company aims to enhance its core competitiveness and expand its overseas investments during the 14th Five-Year Plan period, focusing on high-quality development in the marine food industry[54]. - The company intends to strengthen its core business in distant water fisheries while diversifying its operations along the supply chain[66]. - The company plans to enhance brand recognition and expand market coverage through product innovation and participation in domestic and international exhibitions[67]. - The company aims to achieve an annual revenue of 2,300 million RMB and a net profit of 105 million RMB for the year 2022[67].