YASHENG GROUP(SH:600108)2022-04-19 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,332,692,529.72, representing a 6.41% increase compared to CNY 3,132,066,911.75 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 71,811,499.34, a significant recovery from a loss of CNY 852,470,250.85 in 2020[17]. - The net cash flow from operating activities increased by 32.49% to CNY 157,296,710.56 in 2021, compared to CNY 118,722,012.69 in 2020[17]. - The total assets of the company at the end of 2021 were CNY 8,240,653,538.26, a decrease of 1.18% from CNY 8,338,953,979.77 at the end of 2020[17]. - The net assets attributable to shareholders increased by 1.29% to CNY 4,058,010,758.21 at the end of 2021, compared to CNY 4,006,285,985.08 at the end of 2020[17]. - The basic earnings per share for 2021 were CNY 0.0369, a recovery from a loss of CNY 0.4379 per share in 2020[18]. - The weighted average return on net assets increased by 20.46 percentage points to 1.78% in 2021, compared to -18.68% in 2020[18]. - The company's total revenue for Q4 reached 1,417,141,845.89 RMB, marking a significant increase compared to previous quarters[21]. - The net profit attributable to shareholders for Q4 was 22,573,161.50 RMB, showing a recovery from earlier losses in the year[21]. - The net cash flow from operating activities in Q4 was 293,936,457.23 RMB, indicating a strong turnaround from negative cash flows in Q2 and Q3[21]. Research and Development - Research and development expenses increased by 13.39% to CNY 23,302,973.84, reflecting a commitment to innovation[35]. - The company has filed 17 new invention patents and implemented 59 new agricultural planting technologies, boosting its innovation capabilities[28]. - The company has 96 R&D personnel, accounting for 1.85% of the total workforce[45]. - Investment in R&D increased by 30%, totaling 150 million CNY, focusing on innovative technologies and product development[70]. Market Expansion and Strategy - The company is expanding its market presence by establishing a professional marketing team and developing multi-channel sales networks, including online and community group buying[27]. - The company has initiated a new medicinal herb industry, leveraging national policies to enhance growth and has made significant progress in land resource acquisition[27]. - The company achieved a revenue of CNY 3,332,692,529.72, representing a year-on-year increase of 6.41%[34]. - The company plans to enhance agricultural technology and information integration, focusing on "Internet+" and modern high-tech agriculture to drive industry transformation[55]. - Gansu Yasheng aims to strengthen its core agricultural business while expanding into the health sector by increasing the scale of traditional Chinese medicine cultivation and processing[57]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[70]. Financial Management and Governance - The company has successfully integrated its financial management, improving fund utilization efficiency through centralized management[28]. - The total remuneration for directors and senior management during the reporting period amounted to 309.86 million yuan, with the highest individual remuneration being 40.50 million yuan[69]. - The company held two shareholder meetings during the reporting period, ensuring equal rights for all shareholders[66]. - The company’s board of directors met eight times, discussing 34 proposals to ensure effective governance[66]. - The company has established a transparent remuneration policy for its directors and senior management[73]. Risk Management - The company has outlined potential risks in its future plans and strategies, which investors should be aware of[5]. - The company faces risks from macroeconomic policies, market competition, and rising costs, and plans to optimize its industrial layout and introduce new crop varieties[62]. - The company will implement measures to mitigate risks from natural disasters and ensure compliance with food safety regulations[63]. Sustainability and Social Responsibility - The company promotes sustainable agricultural practices, including the application of integrated water and fertilizer technology and the use of biodegradable agricultural films[95]. - The company actively engaged in ecological environment protection, focusing on grassland restoration and modern livestock farming, enhancing forage supply capacity[96]. - The company supported over 25,000 local farmers in developing advantageous leading industries through unified procurement of agricultural products[100]. - The company conducted an average of 6,000 technical training sessions annually for local farmers, benefiting over 10,000 households[100]. - The company implemented measures to reduce pollution and improve resource utilization efficiency, promoting sustainable agricultural practices[98]. Financial Position and Assets - The total assets amounted to CNY 8,240,653,538.26, a decrease from CNY 8,338,953,979.77 in the previous year, reflecting a decline of approximately 1.18%[138]. - The company's total liabilities were CNY 4,181,578,265.65, down from CNY 4,324,255,678.38, a decrease of around 3.30%[139]. - Shareholders' equity increased to CNY 4,059,075,272.61 from CNY 4,014,698,301.39, reflecting a growth of about 1.11%[139]. - Cash and cash equivalents decreased to CNY 469,699,042.13 from CNY 656,955,781.93, a decline of approximately 28.54%[140]. Compliance and Internal Control - The company has implemented internal controls to maintain the integrity of financial reporting[135]. - The audit report indicates no significant misstatements in the financial statements for the year ended December 31, 2021[134]. - The company has not reported any overdue bonds during the reporting period[128]. - The company has not encountered any significant accounting errors that would require correction during the reporting period[107]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 136,628[116]. - The company has no significant changes in ownership structure or control during the reporting period[123]. - Gansu Agricultural Reclamation Group Co., Ltd. holds 303,121,313 shares, accounting for 15.57% of total shares[118].