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敦煌种业(600354) - 2021 Q4 - 年度财报
Dunhuang SeedDunhuang Seed(SH:600354)2022-03-23 16:00

Financial Performance - In 2021, the company achieved a net profit of ¥42,041,503.37, with a net profit attributable to shareholders of ¥9,051,140.60, representing a decrease of 69.36% compared to the previous year[6]. - The company's operating revenue for 2021 was ¥922,131,315.29, down 3.36% from ¥954,210,631.49 in 2020[20]. - The basic earnings per share for 2021 was ¥0.0172, a decline of 69.29% from ¥0.0560 in 2020[22]. - The net cash flow from operating activities was ¥111,667,157.93, a decrease of 5.86% compared to ¥118,617,083.99 in 2020[20]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥23,718,841.09 in 2021 compared to a loss of ¥144,974,194.64 in 2020[20]. - The weighted average return on equity decreased to 1.48% in 2021 from 5.37% in 2020, a drop of 3.89 percentage points[22]. - The total operating revenue decreased by 3.36% to CNY 922.13 million, while operating costs fell by 11.63% to CNY 724.47 million[38]. - The company reported a significant increase in annual revenue, reaching a total of 1.2 billion CNY, representing a growth of 15% year-over-year[80]. - Total revenue for 2021 was CNY 922,131,315.29, a decrease of 3.5% from CNY 954,210,631.49 in 2020[154]. Assets and Liabilities - The company's total assets at the end of 2021 were not disclosed, but the net assets attributable to shareholders were ¥616,058,754.18, an increase of 0.88% from ¥610,685,913.16 in 2020[20]. - Total current assets decreased from CNY 1,059,885,787.93 in 2020 to CNY 970,303,491.33 in 2021, a decline of approximately 8.4%[146]. - Total liabilities decreased from CNY 1,039,345,732.73 in 2020 to CNY 925,270,170.74 in 2021, a decline of approximately 11%[147]. - The total equity increased from CNY 624,734,709.60 in 2020 to CNY 662,274,409.63 in 2021, an increase of about 6%[147]. - The total liabilities of the company increased, with cash received from loans amounting to 329,437,800.00 RMB in 2021, compared to 541,720,000.00 RMB in 2020, a decrease of 39.1%[165]. Research and Development - Research and development expenses increased by 109.39% to CNY 14.82 million, indicating a focus on innovation[38]. - The number of R&D personnel was 39, accounting for 6.34% of the total workforce[48]. - The company invested 14,824,329.01 in R&D this period, significantly up from 7,079,646.42 in the previous period, marking a 109.5% increase[46]. - Research and development expenses increased to ¥9,695,027.21 in 2021, up from ¥5,937,563.85 in 2020, reflecting a 63.1% rise[159]. Market and Industry Trends - The seed industry achieved a revenue of CNY 60,563.7 million in 2021, representing a growth of 55.39% compared to the previous year[29]. - The food and trade industry reported a revenue of CNY 19,968.72 million in 2021, a decrease of 59.91% year-on-year due to the impact of the COVID-19 pandemic and rising costs[30]. - The corn planting area in China increased to 64.4 million acres in 2021, with a total production of 274 million tons, reflecting growth rates of 4.2% and 5.1% respectively[32]. - The overall market for hybrid corn seed production in China saw an increase of 8.2% in new seed production, totaling approximately 1 billion kilograms[32]. - The company anticipates growth in functional foods like tomato powder and onion powder, driven by increasing consumer health awareness[63]. Governance and Management - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards and effective decision-making[70]. - The company has established a transparent performance evaluation and incentive mechanism for its management team, linking compensation to performance[71]. - The company has maintained a consistent leadership structure, with key positions filled through elections and appointments[87]. - The decision-making process for the remuneration of directors and senior management is based on the annual profit and task completion results, approved by the board and shareholders[85]. Environmental and Social Responsibility - The company’s subsidiaries have installed pollution control equipment and wastewater treatment facilities, meeting national and local discharge standards[103]. - The company plans to replace existing equipment to connect to public steam heating sources, aiming to reduce carbon emissions[104]. - The company provided 1,150 job opportunities for local farmers through its agricultural initiatives[107]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[104]. Legal Matters - The company reported a litigation amount of ¥22,496,516.76 related to a contract dispute with Jilin Ping An Seed Industry Co., Ltd.[117]. - The company is involved in another litigation with Shanghai Shangrong Supply Chain Management Co., Ltd. with a claim amount of ¥49,567,215.20[117]. - A third litigation involves Urumqi Land Port International Trade Co., Ltd. with a claim amount of ¥41,584,721.27[117]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[80]. - The company plans to stabilize corn seed production area at over 1.4 million mu by 2025, with an industry chain output value exceeding 12 billion yuan[61]. - The company will take measures to activate idle assets and reduce seed inventory in 2022[67].