HACL(SH:600598)2022-03-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 3,629,374,113.40, an increase of 11.99% compared to CNY 3,240,890,962.86 in 2020[14]. - The net profit attributable to shareholders of the listed company was CNY 857,427,190.06, a decrease of 13.39% from CNY 989,978,629.23 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was CNY 1,003,539,704.57, down 4.66% from CNY 1,052,587,862.28 in 2020[14]. - The total profit amounted to 732 million RMB, a decrease of 255 million RMB, or 25.83% year-on-year, primarily due to arbitration disputes resulting in a penalty of 304 million RMB[23]. - The company achieved total operating revenue of 3.629 billion RMB in 2021, an increase of 388 million RMB or 11.99% year-on-year[23]. - The net profit reached 699 million yuan, down by 273 million yuan, or 28.05% year-on-year[38]. - The total assets were 8.029 billion yuan, a decrease of 65 million yuan, or 0.8% compared to the previous year[38]. - The total liabilities decreased to 1.318 billion yuan, down by 52 million yuan, or 3.8% year-on-year[38]. Cash Flow and Assets - The net cash flow from operating activities was CNY 1,226,074,666.35, an increase of 3.09% compared to CNY 1,189,327,787.24 in 2020[16]. - The company’s cash flow from operating activities was 3.023 billion RMB in the first quarter, but negative in the subsequent three quarters[20]. - The company’s cash and cash equivalents at year-end were CNY 5.66 million, with various assets subject to restrictions totaling CNY 77.53 million[59]. - The total assets at the end of 2021 were CNY 8,029,006,028.06, a decrease of 0.80% from CNY 8,093,774,209.50 at the end of 2020[16]. - The company’s asset-liability ratio was 16.42%, a decrease of 0.51 percentage points compared to the end of the previous year[23]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4 per 10 shares, totaling CNY 711,071,963.60 based on the total share capital of 1,777,679,909 shares[3]. - The company reported a positive profit available for distribution to shareholders but did not propose a cash profit distribution plan[103]. Agricultural Operations - The agricultural segment generated operating revenue of 3.563 billion RMB, an increase of 334 million RMB or 10.35% year-on-year[24]. - The total profit from the agricultural segment was 1.138 billion RMB, an increase of 169 million RMB or 17.40% year-on-year[24]. - The company achieved a total production of high-quality crops, including rice, corn, and soybeans, reaching nearly 12 billion jin in 2021[32]. - The company completed the transformation of 985,300 acres of farmland, significantly enhancing agricultural infrastructure[24]. - The company has established a comprehensive agricultural technology service system with 16 agricultural technology promotion centers and various support stations[32]. Research and Development - The company’s R&D expenses increased by 242.45% to 55.13 million yuan, reflecting a significant investment in agricultural research projects[41]. - The company has signed technical cooperation agreements with 10 research institutions, promoting 9 new varieties and testing 10 new technologies[25]. - The number of R&D personnel is 292, accounting for 0.87% of the total workforce[54]. Risk Management - There were no significant risks that materially affected the company's production and operations during the reporting period[4]. - The company has identified risks related to accounts receivable and inventory, and is taking measures to accelerate debt collection and inventory clearance[71]. - Natural disasters pose a risk to agricultural production, and the company is enhancing water conservancy facilities and participating in disaster insurance to mitigate these risks[72]. Corporate Governance - The company has established a sound corporate governance structure, ensuring effective decision-making and supervision mechanisms[73]. - The total pre-tax remuneration for senior management during the reporting period amounted to 484.21 million CNY[77]. - The company has not faced any penalties from securities regulatory agencies in the past three years[85]. Legal Matters - The company initiated a lawsuit against Harbin Xinglong Feed Sales Co., claiming an outstanding debt of 2,059,492.13 CNY from a corn procurement contract signed in November 2010[141]. - The court ruled in favor of the company, ordering Harbin Xinglong to return 603,553.10 CNY and pay additional costs totaling 1,321,464.39 CNY, along with interest of 109,405 CNY[141]. - The company has been involved in multiple lawsuits, with varying outcomes, including appeals and enforcement actions[145]. Environmental and Safety Initiatives - The company has established a food safety traceability system utilizing agricultural IoT technologies to ensure product safety[122]. - The company achieved a 100% utilization rate for straw return and comprehensive utilization throughout the year, promoting sustainable agricultural development[124]. - The company has expanded the application of organic fertilizers and green pesticides, improving soil quality and agricultural product standards[122]. Financial Management - The company utilized idle funds up to CNY 5 billion for government bond reverse repurchase operations, achieving a post-tax investment income of CNY 5.35 million in 2021[177]. - The company has engaged in structured deposits amounting to ¥1,900,000,000.00, with an outstanding balance of ¥1,300,000,000.00[171]. - The company has confirmed that all principal and interest repayments from structured deposits were in line with expectations[173]. Shareholder Information - The largest shareholder, Beidahuang Agricultural Group Co., Ltd., holds 1,140,262,121 shares, representing 64.14% of the total shares[183]. - The second-largest shareholder, Hong Kong Central Clearing Limited, decreased its holdings by 838,293 shares, holding 26,215,996 shares, which is 1.47%[183]. - The company has no changes in share capital structure during the reporting period[181].