LHG(SH:600186)2023-03-30 16:00Financial Performance - The company reported a basic earnings per share of CNY 0.03 for 2022, unchanged from 2021, but down from CNY 0.05 in 2020[6]. - The weighted average return on equity decreased to 3.22% in 2022, down 2.23 percentage points from 5.45% in 2021[6]. - The total operating income for the first quarter of 2022 was CNY 417,456,782.99, with a net profit attributable to shareholders of CNY 14,652,986.00[9]. - The company reported a revenue of 1.691 billion yuan, a year-on-year decrease of 6.83%, while the net profit attributable to shareholders increased by 4.06% to 46.1672 million yuan[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 62.363 million yuan, representing a year-on-year growth of 37.82%[15]. - The company achieved operating revenue of CNY 1,691,055,172.21 in 2022, a decrease of 6.83% compared to CNY 1,814,929,608.87 in 2021[30]. - Net profit attributable to shareholders was CNY 46,167,166.21, representing a growth of 4.06% from CNY 44,364,370.77 in the previous year[30]. - The total revenue for the reporting period reached CNY 1,687,035,573.99, an increase from CNY 1,449,822,340.12, representing a growth rate of 14.06%[121]. - The company’s total revenue for the reporting period was approximately ¥1.69 billion, a decrease of 6.78% compared to the previous year[94]. Sales and Market Presence - The company launched new product lines including hot pot base, sauerkraut fish seasoning, and braised sauce series to meet market demand[3]. - The company has established a comprehensive sales network across the country, with a focus on distributor-based sales[4]. - The company achieved a total sales volume of 120,500 tons of monosodium glutamate, 20,400 tons of chicken essence, and 37,600 tons of flour during the reporting period[15]. - The company’s main product, monosodium glutamate, remains a crucial seasoning in the Chinese market, with a high industry concentration following several rounds of consolidation[72]. - The company maintains a leading position in the domestic monosodium glutamate retail market, with its "Lianhua" brand recognized nationwide[127]. - The company plans to enhance its production capabilities for seasoning products, including monosodium glutamate and chicken essence, while developing new healthy seasoning products[127]. - The company has established a presence in over 70 countries and regions, including Europe, Southeast Asia, Central Asia, Africa, and Russia[127]. - The company aims to continuously upgrade its product offerings based on consumer demand, focusing on health-oriented products[127]. Research and Development - The company has increased its investment in new product research and development, collaborating with research institutions to meet evolving consumer preferences[18]. - The total R&D investment for the period was ¥21,557,179.52, accounting for 1.27% of operating revenue[69]. - The number of R&D personnel accounted for 11.46% of the total workforce, with a total of 144 R&D staff[86]. - The company has allocated a budget of 90 million for research and development in new technologies[142]. - Increased investment in research and development is aimed at expanding the product system and adapting to new consumer trends[103]. Operational Efficiency - Sales expenses decreased by 11.66% year-on-year, reflecting improved operational efficiency[18]. - The company reported a significant decrease in sales expenses due to a sharp decline in flour sales revenue[61]. - The net cash flow from operating activities decreased due to reduced cash receipts from sales of flour products[61]. - The company’s investment activities saw a decrease in cash flow due to the completion of the industrial park construction[61]. - The company aims to enhance its core competitiveness through continuous reform of its systems and mechanisms, and by promoting digital transformation to improve operational efficiency[128]. Governance and Compliance - The company has implemented measures to enhance its corporate governance structure and internal control systems, ensuring compliance with relevant laws and regulations[106]. - The governance structure of the company aligns with modern corporate governance standards, ensuring compliance with relevant laws and regulations[133]. - The company has a commitment to enhancing its operational standards and governance levels[109]. - The company has not reported any disputes or objections from board members regarding company matters[200]. - The company has not established any special committees under the board of directors for the reporting period[193]. Future Outlook and Strategy - Future outlook remains positive, with the company projecting a revenue growth of 15% for the next fiscal year[142]. - The company is planning to expand its market presence in overseas regions, targeting a 20% increase in international sales[142]. - Recent mergers and acquisitions are expected to contribute an additional 10% to overall revenue growth in the upcoming year[142]. - The management plans to accelerate the construction of fundraising projects to significantly improve production efficiency and product quality, while reducing production costs[128]. - The company will implement the "521 Brand Revival Strategy" focusing on compound condiments, health foods, and deep processing of agricultural products, aiming to increase sales revenue and enhance brand value[128]. Financial Management - The company has a cash dividend policy that was revised to protect the rights of minority investors, ensuring clarity in profit distribution standards and procedures[165]. - The company has not proposed a cash profit distribution plan despite having positive distributable profits for shareholders[167]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 703.94 million RMB[154]. - The company reported a pre-tax remuneration of 74.50 million RMB for the president during the reporting period[154].