HACL(SH:600598)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was CNY 4,261,571,985.21, representing a 17.42% increase compared to CNY 3,629,374,113.40 in 2021[15]. - The net profit attributable to shareholders for 2022 was CNY 975,291,615.56, which is a 26.63% increase from CNY 770,208,150.06 in the previous year[15]. - The cash dividend proposed is CNY 4.2 per 10 shares, totaling CNY 746,625,561.78, with a cash dividend payout ratio of 76.55%[3]. - The net cash flow from operating activities for 2022 was CNY 1,259,420,459.68, showing a 2.72% increase from CNY 1,226,074,666.35 in 2021[15]. - The total assets at the end of 2022 were CNY 8,228,092,830.70, a 2.48% increase from CNY 8,029,006,028.06 at the end of 2021[15]. - The net assets attributable to shareholders at the end of 2022 were CNY 7,187,729,581.55, reflecting a 3.89% increase from CNY 6,918,565,840.86 in 2021[15]. - The basic earnings per share for 2022 were CNY 0.549, up 26.79% from CNY 0.433 in 2021[16]. - The weighted average return on net assets for 2022 was 13.95%, an increase of 2.67 percentage points from 11.28% in 2021[16]. - The total profit reached 958 million yuan, an increase of 226 million yuan, reflecting a growth of 30.91% year-on-year[33]. - The net profit amounted to 946 million yuan, up by 247 million yuan, indicating a growth of 35.36% year-on-year[33]. Operational Highlights - The company achieved an annual revenue of 4.262 billion yuan, a year-on-year increase of 6.32%[22]. - The agricultural segment generated a total revenue of 4.258 billion yuan, with a profit of 1.087 billion yuan, a decrease of 0.51 billion yuan year-on-year[22]. - The company expanded its soybean planting area, achieving a total grain and bean production of 329,600 tons, with total agricultural machinery power reaching 361.13 million kilowatts[22]. - The company produced a total of 12.14 billion jin of high-quality crops, including rice, corn, and soybeans in 2022[26]. - The agricultural machinery total reached 329,600 units, with a total power of 3.6113 million kilowatts, achieving a comprehensive mechanization rate of over 99%[28]. - The company has established a complete agricultural information management system, enhancing the standardization and modernization of agricultural production[30]. Research and Development - Research and development expenses rose by 32.20% to CNY 72.88 million, driven by increased investment in agricultural research efforts[34]. - The total R&D investment amounted to 72,881,720.09 RMB, representing 1.71% of operating revenue[46]. - The number of R&D personnel is 285, accounting for 0.85% of the total workforce[47]. - The company promoted 11 new varieties and 10 new technologies, obtaining 1 national utility model patent[50]. Financial Position - The company reported a debt-to-asset ratio of 15.52%, indicating a stable financial position[22]. - The total liabilities decreased to 1.277 billion yuan, down by 41 million yuan, showing a decline of 3.12%[33]. - The equity attributable to shareholders of the listed company was 7.188 billion yuan, an increase of 269 million yuan, reflecting a growth of 3.89%[33]. - The asset-liability ratio was 15.52%, a decrease of 0.9 percentage points compared to the end of the previous year[33]. Governance and Management - The governance structure of the company is well-established, with effective operation of the shareholders' meeting, board of directors, and supervisory board[70]. - The total pre-tax remuneration for key management personnel during the reporting period amounted to 567.45 million CNY[77]. - The company has not disclosed any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[70]. - The company has a clear focus on quality, efficiency, and power transformation as part of its operational goals for 2023[67]. - The company has established specialized committees, including an audit committee and a strategic committee, to oversee various functions[89]. Legal and Compliance Issues - The company is currently involved in a lawsuit with a claim amount of approximately ¥2,059,492.13 related to a corn procurement contract signed in November 2010[134]. - The company has outstanding receivables from Qingfeng Linen Company totaling CNY 94,484,646.46, with a total sales amount of CNY 198,486,208.42 from November 2011 to the end of 2012[136]. - The company is pursuing a claim against Changchunling Granary for CNY 17,285,964.24, which includes overdue payments and penalties[136]. - The company has been involved in multiple legal cases, with significant rulings affecting its financial obligations and product deliveries[143]. - The company is currently in the process of enforcing court judgments due to non-compliance by the defendants in both lawsuits[142]. Environmental and Social Responsibility - The company actively engaged in environmental protection initiatives, including reducing chemical fertilizer usage through various agricultural techniques[110]. - The company implemented carbon reduction measures, including the use of organic fertilizers and precision application of pesticides[111]. - The company is committed to promoting low-carbon and environmentally friendly agricultural practices, including the adoption of precision seeding machinery and satellite navigation technology[119]. - The company is actively involved in rural revitalization efforts by providing technical training and management resources to local agricultural sectors[120]. Future Outlook - The company expects to achieve a total revenue of 4.69 billion CNY and a profit of 970 million CNY for the year 2023, with a total grain production of 11.814 billion jin[67]. - The company aims to enhance its core competitiveness and profitability by focusing on technology-driven projects and capital utilization[66]. - The company is positioned to benefit from national policies supporting agricultural innovation and capital operations, providing new opportunities for growth[58].