OGI(SH:600811)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥15.18 billion, a decrease of 1.80% compared to ¥15.46 billion in 2020[25]. - The net profit attributable to shareholders for 2021 was approximately -¥1.72 billion, representing a significant decline of 814.81% from a profit of ¥240.45 million in 2020[25]. - The net cash flow from operating activities increased to approximately ¥500 million, a substantial increase of 938.64% compared to ¥48.14 million in 2020[25]. - The total assets at the end of 2021 were approximately ¥44.30 billion, down 5.53% from ¥46.90 billion at the end of 2020[25]. - The net assets attributable to shareholders decreased to approximately ¥19.41 billion, reflecting an 8.09% decline from ¥21.12 billion in 2020[25]. - The company reported a net profit excluding non-recurring gains and losses of approximately -¥1.17 billion, a decrease of 1,997.84% from ¥61.46 million in 2020[25]. - Basic earnings per share (EPS) were -0.4697 CNY, a decrease of 814.92% compared to the previous period[28]. - Diluted EPS also reported at -0.4697 CNY, reflecting the same percentage decrease[28]. - The company reported a net profit attributable to shareholders of -1.719 billion yuan for the year 2021, primarily due to credit impairment losses and increased financial expenses[187]. - The company will not distribute cash dividends for the year 2021, as it does not meet the conditions for cash dividends according to its articles of association[188]. Revenue Breakdown - The rice processing and sales segment generated revenue of 1.853 billion yuan, down 33.78% year-on-year, with brand rice sales revenue at 0.657 billion yuan, a decrease of 32.75%[39]. - The oil processing segment reported revenue of 3.286 billion yuan, a year-on-year increase of 12.57%, but incurred a net loss of 93 million yuan due to rising raw material costs[42]. - The soybean product segment achieved revenue of 140 million yuan, a decline of 0.88%, with net profit decreasing by 11.43%[43]. - The agricultural product trading and supply chain finance business generated revenue of 9.762 billion yuan, an increase of 8.62%, with a trading volume of nearly 4 million tons[44]. - Revenue from agricultural processing and sales reached ¥15,035,186,900.69, a decrease of 2.12% year-on-year, with a gross margin of 1.55%, down by 1.15 percentage points[86]. - Revenue from other agricultural product sales was ¥9,761,534,602.26, an increase of 8.62% year-on-year, with a gross margin of 1.04%, down by 0.42 percentage points[86]. Investment and R&D - The company plans to focus on new product development and market expansion strategies to improve future performance[32]. - The company’s research and development expenses rose by 183.53% to CNY 5.716 million, reflecting increased investment in high-moisture plant-based meat projects[81]. - The company has obtained and is applying for a total of 15 patents, with significant advancements in high-moisture plant protein technology, achieving a carbon emission rate of only 10% compared to animal meat[70]. - The company aims to develop high-value-added products, focusing on R&D in areas such as high-moisture plant-based meat and deep processing of soybeans[143]. Market and Strategic Initiatives - The company is actively developing its brand in the fresh bean product market and aims to lead the market in Fujian province[50]. - The company plans to enhance its community group buying and new retail market layout to improve sales channels[41]. - The company is focusing on high-value industries such as high-moisture plant protein meat and seawater potassium extraction to support its strategic transformation[38]. - The company plans to enhance its market share in rice by upgrading production equipment and expanding its production capacity[49]. - The company is expanding its supply chain financial services to alleviate funding pressures for small and medium-sized enterprises in the agricultural sector[55]. Risks and Challenges - The company faced significant risks as outlined in the management discussion and analysis section of the report[10]. - The company emphasized the importance of investor awareness regarding potential investment risks associated with forward-looking statements[9]. - The company faces risks related to high grain prices influenced by global commodity price fluctuations and regional supply imbalances due to the ongoing pandemic[144]. - The real estate business is challenged by ongoing pandemic impacts, rising commodity prices, and regulatory pressures, leading to difficulties in asset disposal and project timelines[144]. Corporate Governance and Management - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 8.18 million yuan[155]. - The company has established a compensation policy aimed at creating an internally equitable and market-competitive compensation and benefits system[185]. - The board held a total of 10 meetings during the year, with all directors attending in person[172]. - The company did not receive any penalties from securities regulatory agencies in the past three years[170]. Environmental and Compliance - The company operates under the Xiamen air pollutant discharge standards, with a total emission limit of 13.08 tons for SO2, 27 tons for NOX, and 9 tons for particulate matter[199]. - The company has obtained the environmental impact assessment approval and the pollution discharge permit valid until August 18, 2023[200]. - There were no administrative penalties received due to environmental issues during the reporting period[200].