YBTI(SH:600883)2022-04-25 16:00Financial Performance - In 2021, the company achieved a net profit of ¥52,786,130.27, with a total distributable profit of ¥336,569,572.12 as of December 31, 2021[5]. - The proposed cash dividend is ¥0.70 per 10 shares, totaling ¥16,526,160.00, which represents 30.32% of the net profit attributable to shareholders for the year[5]. - The company’s financial report has been audited by Zhongzheng Zhonghuan Accounting Firm, which issued a standard unqualified opinion[4]. - The company’s board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company’s future plans and projections are subject to uncertainties and do not constitute a commitment to investors[7]. - In 2021, the company's operating revenue reached CNY 36,946,715.74, a year-on-year increase of 71.57% compared to CNY 21,534,572.06 in 2020[21]. - The net profit attributable to shareholders was CNY 54,503,009.92, representing a significant increase of 130.96% from CNY 23,598,610.11 in the previous year[21]. - The basic earnings per share rose to CNY 0.2309, up 130.90% from CNY 0.1000 in 2020[22]. - The company reported a net cash flow from operating activities of CNY -6,394,818.25, an improvement from CNY -17,413,789.50 in 2020[21]. - The total assets at the end of 2021 were CNY 777,255,145.82, a 7.23% increase from CNY 724,861,496.54 at the end of 2020[21]. Business Operations - The company adjusted its business model to focus on edible fungi as the main business, with sales revenue and net profit from mushroom products increasing year-on-year[30]. - The company implemented precise management strategies to reduce losses in its cement business, resulting in a decrease in losses compared to the previous year[30]. - The weighted average return on equity increased to 7.63%, up 4.14 percentage points from 3.49% in 2020[22]. - The company emphasized risk control in external equity investments and entrusted financial management, leading to stable growth in investment income[30]. - The company’s cement production in 2021 was 36,000 tons, a decrease of 32.83% year-on-year, with a capacity utilization rate of approximately 10.84%[35]. - The company’s total operating income increased by 71.57% year-on-year, primarily due to the increase in sales volume of matsutake and mushroom products[49]. - The company registered the "Geli La" trademark in October 2020 to enhance brand promotion and protection[45]. - The company has integrated a full industry chain operation model for edible fungi, including production, storage, logistics, and product development[65]. Market Trends and Industry Analysis - The cement industry is highly sensitive to macroeconomic cycles, with a close correlation to fixed asset investment growth rates[102]. - The expected GDP growth in the region for 2022 is over 8%, which is anticipated to boost cement market demand[103]. - The cement industry faces significant pressure due to overcapacity and low utilization rates, with a forecast of continued market volatility and price decline[104]. - The food mushroom industry is experiencing a trend towards consolidation, with a decrease in the number of production enterprises by 19.68% in 2019[105]. - The projected annual compound growth rate for China's mushroom production is approximately 2.6%, with an expected output of 46.07 million tons by 2025[106]. - Yunnan Province aims to achieve a comprehensive output value of 1,000 billion CNY in the mushroom industry by 2022, with specific targets for wild and cultivated mushrooms[107]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and coordination[118]. - No significant differences exist between the company's governance practices and the requirements set by the China Securities Regulatory Commission[118]. - The company has implemented strict measures to prevent insider information leakage, with no violations reported during the year[118]. - The company has not faced any penalties from securities regulatory authorities in the past three years[137]. - The company has established internal control systems to enhance management efficiency and risk prevention[160]. - The company has communicated with minority shareholders to gather their opinions before finalizing the cash dividend proposal[153]. Shareholder Information - The company completed the registration of the 2021 restricted stock and stock option incentive plan, granting 21.508 million restricted shares and 44.07 million stock options, increasing total shares from 1,325,896,855 to 1,347,404,855[92]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to CNY 297.61 million[125]. - The company has a total of 12 board members and supervisors listed in the report[125]. - The largest shareholder, Shenzhen Derong Investment Development Co., Ltd., holds 40,500,000 shares, accounting for 17.15% of the total shares[198]. - The total number of ordinary shareholders as of the end of the reporting period is 12,245, down from 15,517 at the end of the previous month[195]. Environmental and Social Responsibility - The company was not listed as a key pollutant discharge unit by the Baoshan Ecological Environment Bureau in 2021[162]. - The company achieved compliance in all environmental monitoring tests conducted by third-party agencies during the reporting period[163]. - The company has obtained a pollution discharge permit valid until November 28, 2025, with all emissions meeting regulatory standards[163]. - The company did not experience any safety production accidents in 2021, reflecting strong safety management practices[164]. - The company has not engaged in targeted poverty alleviation efforts in 2021 but plans to actively fulfill its social responsibilities in the future[166]. Investment and Financial Management - The company has invested a total of RMB 74.8 million in bank wealth management products, RMB 50.01 million in broker wealth management products, and RMB 100 million in private equity fund products during the reporting period[186]. - The total amount authorized for entrusted wealth management is up to RMB 200 million, which accounts for 29.00% of the company's audited net assets as of the end of 2020[187]. - The annualized return rates for various entrusted wealth management products range from 1.54% to 8.15%[188]. - The company has not made any provisions for impairment of entrusted loans or entrusted financial management[192]. Legal Matters - The company is involved in multiple lawsuits related to cement sales contracts, with ongoing enforcement proceedings due to non-compliance with mediation agreements by defendants[178]. - The company has initiated legal actions against several parties, including Yunnan Baiyi Construction Engineering Co., Ltd. and Zhang Xueming, for failure to fulfill repayment obligations[178]. - The enforcement of court decisions has been complicated by the lack of assets available for execution from the defendants, leading to the termination of some execution procedures[180]. - The company maintains a good integrity status, adhering to national laws and regulations without any significant legal penalties or investigations reported during the reporting period[181].