YANGYUAN(SH:603156)2023-06-20 16:00Financial Performance - The company's operating revenue for 2022 was RMB 5,922,826,767.82, a decrease of 14.24% compared to RMB 6,905,959,247.09 in 2021[16] - The net profit attributable to shareholders of the listed company was RMB 1,474,249,491.10, down 30.16% from RMB 2,110,817,033.95 in the previous year[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,195,962,844.03, a decline of 32.23% compared to RMB 1,764,841,531.24 in 2021[16] - The net cash flow from operating activities was RMB 1,153,410,020.41, a decrease of 43.14% from RMB 2,028,551,706.54 in the previous year[16] - As of the end of 2022, the net assets attributable to shareholders of the listed company were RMB 11,514,700,248.63, down 7.60% from RMB 12,461,790,746.93 at the end of 2021[17] - The total assets at the end of 2022 were RMB 15,064,161,118.75, a decrease of 5.16% from RMB 15,884,499,316.23 at the end of 2021[17] - Basic earnings per share for 2022 decreased by 30.16% to CNY 1.1650 compared to CNY 1.6680 in 2021[18] - The weighted average return on equity dropped by 5.05 percentage points to 12.51% in 2022 from 17.56% in 2021[18] Dividend Distribution - The company plans to distribute a cash dividend of RMB 18 per 10 shares, totaling RMB 227,788,850.00 based on a total share capital of 126,549,360 shares[3] - The cash dividend payout ratio for the year was 154.51%[3] - The total cash dividend distributed was 2,277,888,480.00 RMB, which is 154.51% of the net profit attributable to ordinary shareholders in the consolidated financial statements[142] Market and Product Development - The company launched new plant-based milk products to meet diverse consumer demands, focusing on low-sugar and nutritious options[26] - The plant protein beverage market in China is projected to exceed RMB 140 billion by 2026, indicating continuous growth in the sector[30] - The increasing health consciousness among consumers is driving demand for plant protein beverages, aligning with current consumption trends[31] - The company is actively pursuing product innovation and category upgrades to meet the diverse needs of consumers[30] - The company is positioned as a leader in the walnut protein beverage category, having developed a strong brand presence over 20 years[30] Sales and Distribution - The company is expanding its online sales channels while strengthening its traditional distribution capabilities[27] - The company employs a dual sales model of distribution and direct sales, with the distribution model being the primary method of reaching consumers[37] - The sales revenue from the distribution channel was CNY 568,705.67 million, a decrease of 14.96% compared to the previous period[76] - The sales revenue from direct sales was CNY 23,167.27 million, an increase of 8.45% compared to the previous period[76] - The online sales revenue reached CNY 13,540.23 million, an increase of 8.59% year-on-year[81] Operational Efficiency - The company has 34 production lines with a total capacity of approximately 1.48 million tons per year, supporting its main product offerings[36] - The company has established a procurement model focused on food safety, with a comprehensive supplier evaluation and management system in place[35] - The company has expanded its production capabilities through both self-built facilities and outsourcing to contract manufacturers since September 2010[36] - The company has implemented a digital transformation strategy to adapt to changing consumer habits, emphasizing online sales channels[32] Environmental Responsibility - The company reported a total wastewater discharge of 43.79 tons of COD and 2.81 tons of ammonia nitrogen in 2022, with a concentration of COD at 113 mg/L and ammonia nitrogen at 7.19 mg/L, both well below the regulatory standards[150] - The company has implemented measures to reduce carbon emissions, including establishing an energy management platform and upgrading production processes to recover waste heat, which enhances energy efficiency[161] - The company has installed online monitoring equipment for real-time tracking of pollutant emissions, ensuring compliance with environmental regulations[154] - The company has become the largest producer of walnut milk in China since its establishment in 1997, significantly expanding walnut planting areas in key regions[165] Corporate Governance - The company held 1 shareholders' meeting during the reporting period, ensuring compliance with relevant regulations and allowing equal participation for all shareholders[105] - The board of directors convened 4 meetings in the reporting period, successfully completing the election of a new board in May 2022[105] - The supervisory board also held 4 meetings and completed its election in May 2022, ensuring compliance with legal requirements[106] - The company has improved its governance structure by revising its articles of association and enhancing internal control systems[106] - The company actively communicated with investors through various channels, ensuring timely information dissemination and protecting investor rights[106] Risk Management - The company reported no significant operational risks that could materially affect its production and operations during the reporting period[5] - The company recognizes the risk of product safety impacting brand reputation, emphasizing the importance of compliance with food safety regulations[102] - The company faces risks related to market competition as more manufacturers enter the plant protein beverage sector, increasing competitive pressure[103] Research and Development - The total R&D investment was 28,922,064.89 yuan, accounting for 0.49% of the operating income[58] - The number of R&D personnel was 283, making up 14.86% of the total workforce[59] - The company aims to enhance its technological innovation capabilities by collaborating with top research institutions and experts[101] Community Engagement - In 2022, the company donated a total of 810,000 CNY (approximately 81.90 million CNY) to various charitable projects, including 500,000 CNY to the China Red Cross Foundation[163] - The company invested 350,000 CNY in poverty alleviation and rural revitalization projects, focusing on industrial poverty alleviation[166] Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[114] - The company aims to achieve a revenue growth target of 5% for the upcoming fiscal year[114] - The company has set ambitious performance targets for the upcoming fiscal year, aiming for a revenue growth of over 15%[116]