NWF(SH:600975)2023-04-24 16:00Financial Performance - In 2022, Hunan New Wellful Co., Ltd. reported a net profit loss of ¥66,716,833.28, with accumulated undistributed profits amounting to ¥172,300,395.95 as of December 31, 2022[6]. - The company will not distribute profits or increase capital reserves for the fiscal year 2022 due to the reported losses[6]. - The total undistributed profits carried forward from previous years were ¥239,017,229.23[6]. - The company's operating revenue for 2022 was ¥4,932,239,352.73, representing a 101.78% increase compared to ¥2,444,380,351.30 in 2021[33]. - The net profit attributable to shareholders for 2022 was -¥75,998,743.99, an improvement from -¥296,302,009.77 in 2021[33]. - The basic earnings per share for 2022 was -¥0.09, compared to -¥0.44 in 2021[34]. - The company generated a net cash flow from operating activities of ¥44,795,465.65 in 2022, a significant recovery from -¥449,820,889.33 in 2021[33]. - The weighted average return on equity improved to -3.14% in 2022 from -17.39% in 2021, an increase of 14.25 percentage points[34]. - Non-recurring gains and losses totaled ¥88,227,402.05 in 2022, compared to -¥17,435,384.70 in 2021[41]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥164,226,146.04 in 2022, an improvement from -¥278,866,625.07 in 2021[33]. - The company's net assets attributable to shareholders increased by 8.96% to ¥2,681,492,134.55 at the end of 2022 from ¥2,460,914,403.07 at the end of 2021[33]. Operational Developments - The company completed a major asset restructuring in 2022, which solidified its core pig farming business and significantly increased the scale of pig sales[37]. - The company achieved a total pig output of 1.8268 million heads in 2022, representing a year-on-year increase of 122.32%, with New Wufeng (excluding Tianxin Seed Industry) contributing 1.07 million heads, up 142.15% year-on-year[50]. - The company has established a pig slaughtering capacity of 700,000 heads per year and is currently constructing projects that will add 500,000 heads and 850,000 heads of slaughtering capacity annually[52]. - The company has expanded its breeding capacity by delivering 9 new sow farms and 28 fattening pig farms, adding over 700,000 heads of annual output[56]. - The company sold 1.8268 million pigs during the reporting period, with 1.7804 million sold as live pigs and 46,400 sold as meat products[86]. - The slaughtering and cold storage business achieved a sales revenue of 746.83 million yuan, representing a 91.71% increase compared to the previous year, driven by increased slaughter volume and higher unit prices[81]. Strategic Initiatives - The company has implemented a strategy to optimize feed production and logistics, resulting in cost savings and improved supply chain efficiency[59]. - The company has focused on enhancing management practices, leading to improved survival rates and reduced costs in pig farming operations[59]. - The company has established a strong foundation for its strategic positioning following the formation of the Hunan Agricultural Development Investment Group, which supports its high-quality development goals[54]. - The company has upgraded its "company + appropriate scale small farm" model to enhance biosecurity management and eliminate smaller farms with inadequate safety measures[75]. - The company emphasizes technological innovation and collaborates with research institutions to enhance its core competitiveness and develop key technologies in the pig industry[76]. Investments and Acquisitions - The company completed the acquisition of 100% equity in Tianxin Seed Industry and related assets, with the transaction approved by the China Securities Regulatory Commission on December 29, 2022[60]. - The company completed the acquisition of Tianxin Seed Industry, enhancing its full industry chain from feed production to pig farming and processing, thereby increasing operational scale and profitability[78]. - The company invested 1.537 billion yuan during the reporting period, marking a 1,206.85% increase compared to the previous year's investment of 109.26 million yuan[101]. - The company has established several new subsidiaries to expand its operational capabilities and market presence in the pig farming industry[88]. - The company has completed part of the capital contribution to the Hunan Modern Cold Chain Logistics Holding Group Co., Ltd., with a registered capital of RMB 300 million, in which the company holds a 16% stake[142]. Risk Management and Compliance - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[8]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The board of directors and management have ensured the accuracy and completeness of the annual report[4]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. Community and Social Responsibility - The company has created 20 jobs for local Tibetan employees in Tibet, contributing to local farmers' income[64]. - The company is actively communicating with the Xiangxiang City Optimizing Human Settlements Affairs Center regarding remaining compensation funds, with discussions ongoing as of the reporting period[185].