YouYou Foods(SH:603697)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was approximately CNY 1.09 billion, representing an increase of 8.40% compared to CNY 1.01 billion in 2019[23]. - The net profit attributable to shareholders for 2020 was approximately CNY 225.83 million, a growth of 26.12% from CNY 179.05 million in 2019[23]. - Basic earnings per share for 2020 were CNY 0.74, up 15.63% from CNY 0.64 in 2019[24]. - The weighted average return on net assets for 2020 was 13.55%, slightly up from 13.46% in 2019[24]. - The company achieved operating revenue of CNY 1,092,699,479.78, representing a year-on-year growth of 8.40%[42]. - The net profit for the year was CNY 225,828,418.33, reflecting a year-on-year increase of 26.12%[42]. - The company reported a total of 14.54 million yuan in donations and support for poverty alleviation efforts in 2020, along with approximately 1.53 million yuan directed towards COVID-19 pandemic prevention[113]. Cash Flow and Investments - The net cash flow from operating activities decreased by 21.50% to CNY 120.24 million in 2020, down from CNY 153.18 million in 2019[23]. - The company's investment activities generated a net cash outflow of CNY 65,314,600.07, a significant improvement compared to the previous year[47]. - Operating cash inflow for 2020 was approximately CNY 1.19 billion, an increase of 1.65% compared to 2019[61]. - Investment cash inflow surged by 170.53% to approximately CNY 3.23 billion in 2020, while investment cash outflow increased by 81.50% to approximately CNY 3.30 billion[61]. - The company reported cash inflows from investment activities of CNY 3,233,854,476.90, a substantial increase from CNY 1,195,391,211.35 in 2019, representing a growth of 170.5%[194]. Assets and Liabilities - The total assets of the company at the end of 2020 were approximately CNY 1.92 billion, an increase of 10.18% from CNY 1.74 billion at the end of 2019[23]. - Total liabilities decreased to RMB 154,057,054.16 from RMB 178,002,696.21 in 2019, reflecting a reduction of about 13.45%[180]. - The company's total equity increased to RMB 1,767,154,921.12, up from RMB 1,565,690,102.79 in 2019, indicating a growth of approximately 12.87%[181]. - Cash and cash equivalents as of December 31, 2020, were RMB 437,889,195.98, compared to RMB 407,383,286.93 in 2019, showing an increase of about 7.43%[179]. Sales and Market Strategy - The main business focus is on the development, production, and sales of marinated snack foods, with a primary product line centered around spicy chicken feet[34]. - The sales strategy is primarily offline, with over 97% of sales through distributors, supplemented by online channels[35]. - The company launched new products including lemon chicken feet, pepper chicken feet, and spicy chicken feet, while optimizing four existing product processes[42]. - Sales revenue in the Southwest region increased by over CNY 56 million, while the East China region saw an increase of over CNY 24 million[42]. - The company aims for a revenue growth target of no less than 10% year-on-year for 2021[81]. Research and Development - Research and development expenses decreased by 35.22% to CNY 2,799,205.66 due to the completion of certain projects[47]. - The total R&D expenditure was ¥2,799,205.66, accounting for 0.26% of total revenue[59]. - The company is investing in R&D for new products, with a budget allocation of 10 million yuan for innovative food development in 2021[142]. Corporate Governance and Compliance - The company has issued a standard unqualified audit report for the financial statements by the auditing firm[4]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[7]. - The company has established measures to prevent conflicts of interest among directors and senior management, ensuring that company assets are not used for unrelated investments[96]. - The company has a stable profit distribution policy, emphasizing the protection of investors' rights and interests through transparent communication and regular disclosures[115]. Social Responsibility and Sustainability - The company has actively participated in social responsibility initiatives, including targeted poverty alleviation and support for public health efforts[113]. - The management team emphasized the importance of sustainability in operations, with plans to reduce carbon emissions by 30% over the next five years[142]. Shareholder Information - The total number of ordinary shares is 304,545,000, with 214,642,078 shares subject to trading restrictions, representing 70.48% of the total[121]. - The company distributed cash dividends amounting to 98,600,000 RMB, with a payout ratio of 43.66% of the net profit attributable to ordinary shareholders[89]. - The cash dividend per 10 shares for 2020 was 3.2 RMB, an increase from 2.6 RMB in 2019[89].