ZSIG(SH:600313)2023-03-21 16:00Financial Performance - In 2022, the company achieved a net profit attributable to shareholders of RMB 230,072,008.43, a significant increase of 533.61% compared to RMB 36,311,046.51 in 2021[5]. - The total operating revenue for 2022 was RMB 5,248,262,957.72, representing a year-on-year growth of 39.42% from RMB 3,764,392,752.13 in 2021[21]. - The company's total assets increased by 19.05% to RMB 4,004,509,631.65 at the end of 2022, compared to RMB 3,363,747,553.55 at the end of 2021[21]. - The net asset attributable to shareholders rose to RMB 1,736,590,303.02, marking a 15.48% increase from RMB 1,503,827,917.24 in the previous year[21]. - Basic earnings per share for 2022 were RMB 0.2126, up 532.74% from RMB 0.0336 in 2021[22]. - The company reported a cash flow from operating activities of RMB 22,779,736.41, a slight decrease of 4.01% compared to RMB 23,732,593.27 in 2021[21]. - The weighted average return on net assets increased to 14.21%, up 11.77 percentage points from 2.44% in 2021[22]. - The net profit after deducting non-recurring gains and losses was RMB 50,086,468.38, a 320.03% increase from RMB 11,924,482.40 in 2021[21]. Revenue Breakdown - The seed business generated 983 million RMB in revenue, with a growth of 5.03% year-on-year[29]. - The pesticide business saw a significant increase in revenue, reaching 866 million RMB, which is a 98.07% increase compared to the previous year[30]. - The fertilizer trading business reported an operating revenue of 2.477 billion RMB, marking a year-on-year growth of 35.13%[31]. - The order grain trading business achieved 880 million RMB in revenue, reflecting a 91.70% increase year-on-year, with a gross profit of 59.79 million RMB, up 153.67%[31]. - The company’s wheat seed revenue was 501 million RMB, showing a decline of 4.15% due to lower seed replacement rates[29]. - The corn seed revenue reached 271 million RMB, with a year-on-year growth of 24.22% attributed to the acquisition of Gansu Xingda and increased market expansion efforts[30]. - The rice seed revenue was 141 million RMB, growing by 9.39% due to rising prices and enhanced promotion efforts[30]. Research and Development - In 2022, the company launched 21 R&D projects, including key technologies in space mutation breeding and transgenic crops[32]. - The company registered 25 new crop varieties, including 4 wheat, 10 corn, and 11 rice varieties, enhancing its competitive advantage[32]. - The company established 3 provincial engineering research centers and 1 demonstration base for new crop varieties in 2022[32]. - The company has established a comprehensive research and development system, focusing on conventional breeding and supplemented by biotechnology, with a network of testing platforms for maize, wheat, and rice across major ecological zones[50]. Market Position and Strategy - The company is a leading player in the seed industry, recognized as a AAA credit enterprise and a key support entity for national crop seed development, particularly in wheat, rice, and maize[48]. - The company aims to integrate agricultural inputs, focusing on seed, pesticide, and fertilizer synergy to enhance core competitiveness[88]. - The company plans to establish national-level seed production bases for corn, wheat, and soybeans, enhancing mechanization and green production techniques[90]. - The company is exploring the development of a full industry chain platform centered on seed production to support agricultural transformation and upgrade[90]. Governance and Management - The company has established a governance structure that ensures equal treatment of all shareholders, particularly minority shareholders[104]. - The board of directors and supervisory board operate independently and in compliance with regulatory requirements[104]. - The company maintains effective communication with investors through various channels, ensuring timely and accurate information dissemination[106]. - The company has a clear compensation policy for directors and senior management, with a focus on performance-based incentives[132]. Environmental and Social Responsibility - The company has invested a total of 40.95 million yuan in poverty alleviation and rural revitalization projects, including 4 million yuan in cash donations and 36.95 million yuan in material support[159]. - The company is committed to environmental protection and safety production, implementing safety responsibility systems and managing waste effectively[158]. - The company has successfully implemented various pollution control measures, including LDAR leak detection and repair, which have contributed to reduced emissions across all monitored pollutants[150]. - The company has committed to carbon reduction initiatives, including optimizing production processes and upgrading high-energy-consuming equipment, contributing to overall sustainability efforts[156]. Risks and Challenges - The company has outlined potential risks in its future development strategies, emphasizing the importance of risk awareness for investors[6]. - The company faces risks in seed variety research and development due to long cycles, high funding requirements, and potential misalignment with market demands[99]. - Safety and environmental risks are associated with the production processes involving hazardous materials, necessitating strict safety protocols and emergency response plans[101]. Financial Management - The company has engaged in various principal-protected financial management products, with a total investment amount of 5,000.00 million RMB across multiple transactions[194]. - The company has utilized self-owned funds for all financial management activities, ensuring control over investment decisions[194]. - The company has a diverse portfolio of financial products with varying maturity dates, ensuring liquidity and flexibility in cash management[194].