YouYou Foods(SH:603697)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was approximately CNY 1.22 billion, an increase of 11.62% compared to CNY 1.09 billion in 2020[23]. - The net profit attributable to shareholders of the listed company for 2021 was approximately CNY 219.84 million, a decrease of 2.65% from CNY 225.83 million in 2020[23]. - The net cash flow from operating activities increased by 105.90% year-on-year, reaching approximately CNY 247.58 million, primarily due to an increase in cash received from sales[24]. - The total assets of the company at the end of 2021 were approximately CNY 2.12 billion, reflecting a growth of 10.26% from CNY 1.92 billion at the end of 2020[23]. - The company's net assets attributable to shareholders at the end of 2021 were approximately CNY 1.90 billion, an increase of 7.59% from CNY 1.77 billion at the end of 2020[23]. - Basic earnings per share for 2021 were CNY 0.72, a decrease of 2.70% compared to CNY 0.74 in 2020[24]. - The weighted average return on equity for 2021 was 12.02%, down from 13.55% in 2020[24]. - The company achieved operating revenue of RMB 1,219,673,293.94 in 2021, representing a year-on-year growth of 11.62%[34]. - The net profit attributable to shareholders was RMB 219,838,024.82, with a significant increase in cash flow from operating activities, which reached RMB 247,580,890.02, up 105.90% year-on-year[34]. - Operating costs rose to CNY 829.92 million, reflecting a year-on-year increase of 12.44%[47]. Sales and Market Performance - Online sales revenue reached RMB 33,992,000, marking a year-on-year increase of 34.65%[35]. - The Southwest region generated approximately RMB 680 million in sales, reflecting a growth of 9.63%[35]. - The East China region achieved sales of approximately RMB 267 million, with a year-on-year growth of 11.81%[35]. - The sales volume of the main product, spicy chicken feet, increased by 5.33% year-on-year, with a production volume of 25,090.76 tons[50]. - The company reported a significant increase in the production and sales of other products, with increases of 80.20% and 73.19% respectively, mainly due to the rise in turkey wing products[50]. - The main product, "Spicy Chicken Feet," accounted for over 80% of total sales, indicating strong brand recognition and market influence[72]. Research and Development - The company launched 14 new R&D projects, including the introduction of new products such as tiger skin chicken feet and boneless series products[34]. - Total R&D expenditure was 3.12 million yuan, which is 0.26% of total revenue[57]. - The company has a dedicated R&D center recognized as a technology center, ensuring the advancement of its product technology[43]. - The company has been actively involved in the development of new food products and technologies, with a focus on innovative food research since 2012[90]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[83]. - The supervisory board has 3 members, including 1 employee representative, also meeting legal and regulatory standards[83]. - The company held 6 board meetings during the reporting period, with all procedures and records adhering to regulations[83]. - The company actively communicated with investors through performance briefings and interactive platforms, ensuring timely and accurate information disclosure[84]. - The company respects the rights of stakeholders and aims for a balance of interests among shareholders, employees, and society[85]. - The company has established a strong governance structure with independent directors overseeing operations and compliance[92]. Risk Management - The company has disclosed potential risks in the "Management Discussion and Analysis" section of the report[8]. - The company faces risks related to food quality control, with strict adherence to safety standards and ongoing improvements to its food safety management system[78]. - Raw material costs constitute over 80% of the main business costs, and the company is implementing strategies to mitigate risks from price fluctuations[79]. - The company recognizes the risk of a single product structure, with Spicy Chicken Feet dominating revenue, and plans to diversify its product offerings to enhance resilience[80]. Employee and Training - The company has a total of 1,502 employees, with 141 in the parent company and 1,361 in major subsidiaries[105]. - The workforce includes 874 production personnel, 237 sales personnel, 88 technical personnel, 29 financial personnel, and 274 administrative personnel[106]. - The company organized a total of 1,195 training sessions during the reporting period, with a total of 23,970 participants[108]. - The company has a comprehensive training program that includes onboarding for new employees and skill enhancement for existing staff, contributing to overall employee quality improvement[108]. Financial Management - The company reported a significant increase in revenue, achieving a total of 500 million RMB for the fiscal year, representing a 20% growth compared to the previous year[130]. - The company has committed to a share buyback program, aiming to repurchase up to 10 million shares over the next 12 months[130]. - The company reported a total of RMB 3,430,000,000 in entrusted financial management, with an outstanding balance of RMB 1,100,000,000[142]. - The company has invested RMB 130,000,000 in bank wealth management products with an annualized return of 3.20%[142]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[130]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[130]. - The company aims to build a century-old brand and promote traditional Chinese cuisine on a global scale[74].