RICHEN(SH:603755)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was RMB 338,504,574, representing a 28.57% increase compared to RMB 263,276,257 in 2020[20]. - The net profit attributable to shareholders of the listed company was RMB 81,287,892.75, a slight increase of 0.05% from RMB 81,250,497.71 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 10.11% to RMB 68,939,745.40 from RMB 76,697,226.64 in 2020[20]. - The net cash flow from operating activities was RMB 59,532,274.23, down 13.59% from RMB 68,897,231.15 in the previous year[20]. - The total assets at the end of 2021 were RMB 823,899,183.83, reflecting a 15.80% increase from RMB 711,492,033.40 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company increased by 8.53% to RMB 660,905,990.43 from RMB 608,974,555.90 in 2020[20]. - The company achieved a significant increase in cash flow from operating activities in Q4, reaching 35.42 million yuan[24]. - The company reported a total revenue of ¥338,336,393.77, with a gross margin of 43.44%[70]. - The company reported a total revenue of 643.88 million in 2021, reflecting a growth compared to previous years[100]. Revenue Breakdown - Revenue from restaurant enterprise clients reached 146.50 million yuan, a year-on-year increase of 32.67%, accounting for 43.28% of total revenue[32]. - Revenue from food processing enterprise clients was 143.70 million yuan, a year-on-year increase of 22.10%, accounting for 42.45% of total revenue[32]. - The company achieved a significant increase in sales through the distribution model, with revenue growth of 129.3%[45]. - In 2021, online sales revenue reached CNY 1,542,475.95 thousand, accounting for 46% of total revenue, with a gross margin of 59.99%[75]. Cost and Expenses - The cost of goods sold increased by 36.91% to CNY 191,516,318, primarily due to rising raw material prices and increased sales volume[42]. - Research and development expenses rose by 18.93% to CNY 11,346,075, reflecting the company's commitment to product innovation[42]. - The company's comprehensive gross profit margin was 43.42%, a decrease of 3.45 percentage points compared to the previous year, primarily due to rising raw material prices[32]. - The company's sales expenses increased by 60.98% to ¥20,994,952.77 compared to ¥13,041,789.79 in the previous year[55]. Strategic Initiatives - The company established three new subsidiaries to enhance its strategic planning and business development, including a joint venture with Xia Bo Xia Bo to expand product categories[33]. - The company aims to leverage the growing demand for prepared foods and the transformation of the restaurant chain industry to drive growth in the compound seasoning market[80]. - The company plans to enhance its marketing network by establishing regional marketing centers and experience centers in key cities, particularly in the Yangtze River Delta region[85]. - The company is exploring potential acquisitions to enhance its product portfolio, with a focus on companies that align with its strategic goals[100]. Governance and Compliance - The board of directors has clear responsibilities and actively participates in meetings, ensuring the protection of shareholders' rights[95]. - The supervisory board also fulfills its duties diligently, overseeing the legality and compliance of the company's financial practices[96]. - The company adheres to strict information disclosure management, ensuring timely and accurate information is available to all shareholders[96]. - The company has established specialized committees within the board to enhance decision-making efficiency and compliance[95]. Risk Factors - The company faced challenges from the COVID-19 pandemic, particularly affecting the restaurant sector, which is a key sales channel[31]. - Global commodity prices surged, impacting raw material costs and consequently affecting the company's overall performance[31]. - The company faces risks from rising raw material prices, which could impact gross and net profit margins[88]. - Food safety risks are a concern, as any lapses in quality control could harm the company's reputation and sales[89]. Environmental and Social Responsibility - The company has a commitment to social responsibility, emphasizing legal compliance and quality food production[135]. - The company has taken measures to reduce carbon emissions, including the installation of solar water heating systems in office areas[134]. - The company has maintained a good operational status for its environmental protection facilities, ensuring compliance with wastewater discharge standards[133]. - The company actively participates in public welfare activities, including donations to local construction and support for police families in need[140]. Future Outlook - Future outlook suggests a projected revenue growth of 17.45% for the upcoming fiscal year, driven by new product launches and market expansion strategies[100]. - The company plans to enhance its digital marketing efforts, targeting a 50% increase in online sales channels by the end of 2022[100]. - The management team emphasized the importance of sustainability in their new strategies, aiming for a 46% reduction in carbon footprint by 2025[100].