YLT(SH:600197)2022-04-27 16:00Financial Performance - In 2021, the company achieved a net profit of ¥353,467,078.43, with a distributable profit of ¥318,120,370.59 after allocating 10% to statutory reserves[4] - The company's operating revenue for 2021 was approximately ¥1.94 billion, an increase of 7.53% compared to ¥1.80 billion in 2020[19] - The net profit attributable to shareholders for 2021 was approximately ¥312.76 million, a decrease of 8.53% from ¥341.91 million in 2020[19] - The net cash flow from operating activities for 2021 was approximately ¥99.98 million, down 63.84% from ¥276.50 million in 2020[19] - The total assets at the end of 2021 were approximately ¥4.94 billion, an increase of 10.11% compared to ¥4.49 billion at the end of 2020[19] - The basic earnings per share for 2021 were ¥0.6651, a decrease of 15.4% from ¥0.7862 in 2020[21] - The weighted average return on equity for 2021 was 8.66%, a decrease of 2.17 percentage points from 10.83% in 2020[21] Dividend Distribution - The company plans to distribute a cash dividend of ¥4.10 per 10 shares, totaling ¥193,499,347.89 to shareholders[4] - In 2021, the company distributed a total cash dividend of approximately 191.13 million yuan, with a per-share distribution of 4.05 yuan (including tax) for every 10 shares[120] - The company has a cash dividend policy that stipulates a minimum of 30% of the average distributable profit over the next three years will be distributed in cash, contingent on profitability and cash flow[120] Corporate Governance - The company held one shareholders' meeting during the reporting period, ensuring compliance with legal procedures and allowing all shareholders to express their opinions[93] - The board of directors convened eight meetings, with independent directors actively participating and providing independent opinions on related transactions and profit distribution[93] - The supervisory board held four meetings, with two-thirds of its members being employee representatives, ensuring compliance with legal requirements[93] - The company has established a governance structure with a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[93] - The company maintains independence from its controlling shareholder, ensuring no interference in internal decision-making[93] Market and Industry Insights - The white liquor industry saw a sales revenue increase of 18.6% to 603.3 billion yuan, with a profit growth of 33% to 170.2 billion yuan[38] - The company holds a 13.2% market share in the liquor industry, contributing to 69.5% of beverage liquor sales revenue and 87.3% of profits[38] - The company’s high-end liquor sales volume decreased by 17.64% year-on-year, while mid-range liquor sales increased by 7.04%[67] - The white liquor market is experiencing a shift towards higher quality consumption, driven by the preferences of younger consumers[80] Research and Development - The company has a technical innovation team of 281 members, with 125 dedicated R&D personnel, representing over 10% of the total workforce[35] - The company conducted 30 packaging review meetings, approving 52 packaging designs[32] - The research and development expenses rose by 13.87% to approximately ¥18.62 million, driven by increased personnel costs and depreciation of the new R&D center[45] Environmental Responsibility - The company is committed to environmental protection and green development, enhancing wastewater treatment and reducing emissions[86] - The company reported no instances of exceeding emission standards for both air and wastewater pollutants in 2021[129] - The company has implemented a self-monitoring plan for environmental compliance, accessible on the national pollution source monitoring platform[135] Related Party Transactions - The company reported a related party transaction amounting to CNY 24,419,551.69 during the reporting period, with an expected amount exceeding CNY 30 million for 2022[166] - The company has confirmed that there are no existing related transactions that should be disclosed according to laws and regulations[148] - The company has committed to not infringe on the interests of shareholders and to comply with relevant laws and regulations regarding related party transactions[151] Future Plans and Investments - The company aims to achieve a revenue target of 2,350 million CNY and a profit target of 550 million CNY for 2022[81] - In 2022, the company plans to invest CNY 293 million in the construction of the Yili Te Caohu Wine Culture Industrial Park, covering an area of approximately 130 acres[83] - The company aims to enhance its online sales strategy by participating in major e-commerce events and launching live streaming on its official Douyin account[74] Financial Stability - The company's consolidated asset-liability ratio as of December 31, 2021, is 22.93%[198] - The company maintains a long-term credit rating of "AA" with a stable outlook according to the tracking credit rating report[198] - The primary source of funds for repaying the convertible bonds will be cash flows generated from the company's operating activities[200]