Ganso(SH:603886)2022-06-24 16:00Financial Performance - In 2021, the company achieved a net profit of ¥339,841,324.59, with a net profit attributable to shareholders of ¥339,855,467.28, representing a 13.27% increase compared to 2020[4]. - The company's operating revenue for 2021 was ¥2,584,315,723.87, marking a 12.20% increase from ¥2,303,268,400.06 in 2020[22]. - The net cash flow from operating activities increased by 35.12% to ¥652,225,740.02 in 2021, compared to ¥482,707,979.65 in 2020[22]. - The total assets of the company reached ¥3,074,535,049.87 by the end of 2021, a 20.52% increase from ¥2,551,106,712.33 at the end of 2020[22]. - The company's net assets attributable to shareholders increased by 6.61% to ¥1,596,699,930.85 at the end of 2021, compared to ¥1,497,690,354.45 at the end of 2020[22]. - Basic earnings per share increased by 13.60% to CNY 1.42 in 2021 compared to CNY 1.25 in 2020[23]. - The weighted average return on equity rose to 21.67% in 2021, up from 19.77% in 2020, reflecting a 1.90% increase[23]. Dividend and Profit Distribution - The company plans to distribute cash dividends of ¥240 million, with a proposal to pay ¥10 per 10 shares[4]. - The remaining undistributed profit to be carried forward to future years is ¥188,381,805.35[4]. Market and Industry Trends - The Chinese baking market is experiencing rapid growth, with a market size expected to reach 307 billion yuan in 2023, up from over 280 billion yuan in 2021, reflecting a compound annual growth rate of 11% from 2016 to 2020[36]. - The demand for short-shelf-life baked goods is rising, aligning with health-conscious consumer trends[90]. - Emphasis on food safety and hygiene continues to be a fundamental trend in the baking industry, driven by rising consumer health awareness[92]. Product Development and Innovation - The company upgraded its cake base quality and optimized classic products, enhancing flavor and stability[31]. - The company aims to improve its quality management system by upgrading from ISO22000 to FSSC22000, enhancing food safety standards[32]. - The company is focusing on product innovation, with a notable rise in demand for low-sugar and low-fat options, catering to health-conscious consumers[39]. - The company launched seasonal products for the three major festivals, including new offerings for the Spring Festival, Dragon Boat Festival, and Mid-Autumn Festival, catering to diverse consumer needs[41]. - The company introduced new flavors of mooncakes during the Mid-Autumn Festival, including a pineapple flavor with Taiwanese pineapple bits, enhancing the product's appeal[41]. Marketing and Customer Engagement - The company plans to leverage public and private domain marketing strategies to increase product exposure across social media platforms[32]. - The company has integrated its customer management system with social networks to create a personalized and intelligent customer management platform, enhancing marketing efficiency and sales performance[35]. - The introduction of offline pop-up events has successfully driven brand exposure and customer engagement, particularly during key festive periods[34]. - The company has launched a new marketing strategy that combines public and private domain traffic, enhancing customer retention and loyalty through SCRM operations[33]. Operational Efficiency and Management - The company has focused on enhancing customer experience through store renovations and the introduction of a new delivery system, aiming to improve order processing speed and customer satisfaction[34]. - The company has developed a comprehensive training and assessment system for marketing personnel, enhancing service quality and operational efficiency[35]. - The company is committed to digital transformation, upgrading systems for production, supply chain, food safety, and customer management[114]. - The company emphasizes lean production and strict food safety management, aiming for zero customer complaints through rigorous quality control[115]. Corporate Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[120]. - The internal control system was evaluated and audited, with KPMG issuing a standard unqualified opinion on the internal control audit report for the 2020 fiscal year[123]. - The company has not reported any violations regarding guarantees, indicating a stable financial position[175]. Social Responsibility and Community Engagement - The company is committed to social responsibility and community engagement initiatives[110]. - The company established the "Star Wish" social welfare program in 2012, focusing on one-on-one support for impoverished children, enhancing community connections through financial aid and personal engagement[111]. - The "Star Wish" social welfare program has expanded to cover regions including Shanghai, Sichuan, Jiangsu, Zhejiang, Guangxi, and Hubei in 2021[160]. Risks and Challenges - The company faces potential risks related to food safety, raw material cost fluctuations, and production environment hygiene, which it aims to manage through strict protocols and optimization strategies[116][117]. - The company has not faced any penalties from securities regulatory authorities in the past three years[134]. Future Outlook - The company anticipates continued growth in the baking industry, driven by rising disposable income and changing consumer preferences towards healthier and higher-quality food options[100]. - The company aims to strengthen brand building, enhance technological innovation, and optimize product structure to increase market share in the food industry, aspiring to become a leading baking enterprise in China[112].