JONJEE(SH:600872)2022-04-24 16:00Financial Performance - The company's total revenue for 2021 was ¥5,115,649,704.30, a slight decrease of 0.15% compared to ¥5,123,374,813.83 in 2020[19] - Net profit attributable to shareholders was ¥741,964,726.31, down 16.63% from ¥889,931,677.24 in the previous year[19] - Basic earnings per share for 2021 were ¥0.9431, down 15.58% from ¥1.1171 in 2020[21] - The weighted average return on net assets was 17.52%, a decrease of 3.44 percentage points from 20.96% in 2020[21] - The company's main business revenue for the reporting period was CNY 4,565,012,770.57, a decrease of 7.41% compared to the previous year[57] - The gross profit margin for soy sauce was 39.20%, with a revenue decrease of 9.48% year-on-year[57] - The revenue from the seasoning products segment was 4.618 billion RMB, down 7.24% year-on-year, primarily due to a decline in sales[35] - The company's total operating costs were 3.332 billion RMB, an increase of 5.33% year-on-year[35] - The gross margin for the manufacturing sector was 32.64%, a decrease of 5.28 percentage points compared to the previous year[36] Cash Flow and Investments - The net cash flow from operating activities increased by 21.13% to ¥1,212,493,363.66 from ¥1,000,999,170.24 in 2020[19] - The company reported a net cash inflow from investment activities of ¥944 million, an increase of ¥2.069 billion compared to the previous period[49] - The company reported a net cash flow from operating activities of CNY 650,516,123.02 in Q4 2021, up from CNY 232,435,494.04 in Q1[23] - The company has 366 R&D personnel, making up 7.26% of the total workforce[47] - The company has a total of 5,043 employees, including 1,667 sales personnel and 355 technical staff[105] Dividends and Share Repurchase - The company plans to distribute a cash dividend of ¥3 per 10 shares, totaling ¥231,296,385.00[5] - The company completed its first share repurchase in 2021, using CNY 599.8 million to buy back 14.388 million shares[26] - The company repurchased a total of 14,388,000 shares, accounting for 1.81% of the total share capital, at an average price of 41.694 CNY per share, using a total of approximately 599.79 million CNY[172] - The second repurchase involved acquiring 11,261,244 shares, approximately 1.41% of the total share capital, with a total expenditure of about 383.73 million CNY[173] Market Expansion and Product Development - The company added 281 new distributors in 2021, achieving a national coverage rate of 92.28% in prefecture-level cities and 59.97% in county-level areas[25] - The company launched 7 new products and 42 individual items in 2021, enhancing its product portfolio[25] - The company is focusing on expanding its health food business while divesting from real estate operations to concentrate on food manufacturing[69] - New product launches are anticipated in the upcoming quarters, aimed at meeting evolving consumer demands[80] Corporate Governance - The company has established a comprehensive information disclosure management system to ensure timely and accurate information dissemination to shareholders[73] - The board of directors has set up five specialized committees, including strategy development and audit, to enhance governance and oversight[73] - The company has maintained a transparent communication channel with shareholders through various means, including shareholder visits and hotlines[73] - The company has not experienced any incidents of insider trading or information leakage during the reporting period[73] Environmental and Social Responsibility - The company has maintained compliance with environmental standards, with no reported exceedances in pollutant emissions[116] - The company has implemented a rooftop photovoltaic power generation project, expected to generate 5.6 million kWh annually, equivalent to reducing the use of 688 tons of standard coal[126] - The company has completed the environmental impact assessment for the new project of the Chubang Food Research Institute in December 2021[120] - The company has conducted emergency drills according to the emergency response plan to enhance its ability to respond to environmental incidents[121] Legal and Financial Risks - The company is currently facing three lawsuits related to land use rights, with ongoing proceedings in the first instance[149] - The company has frozen shares of 27.24 million in Zhongju High-tech due to a court ruling related to an 800 million yuan loan dispute[150] - The company faces multiple enforcement actions due to various loan disputes, indicating significant financial pressure[150] - The company is a guarantor for debts totaling 42.07 billion yuan related to China Minsheng Trust, with ongoing enforcement actions[152] Future Outlook - The management has provided guidance for the next fiscal year, projecting a revenue growth of approximately 10%[80] - The company aims to achieve a "double hundred development plan" to narrow the gap with industry leaders, focusing on internal growth and external acquisitions[67] - Future outlook includes strategic investments aimed at increasing market share and driving innovation in product development[80] - The company plans to explore potential mergers and acquisitions to bolster its competitive position in the industry[80]