Ganso(SH:603886)2023-03-27 16:00Financial Performance - In 2022, the company achieved a net profit of ¥266,400,267.73, with a net profit attributable to shareholders of ¥266,374,236.60, representing a decrease of 21.62% compared to 2021[6]. - The company's operating revenue for 2022 was ¥2,587,144,580.12, showing a slight increase of 0.11% from ¥2,584,315,723.87 in 2021[23]. - The net cash flow from operating activities decreased by 14.74% to ¥556,108,278.73 in 2022, down from ¥652,225,740.02 in 2021[23]. - The total assets of the company at the end of 2022 were ¥3,143,254,453.00, reflecting a 2.24% increase from ¥3,074,535,049.87 at the end of 2021[23]. - The company's net assets attributable to shareholders increased by 1.57% to ¥1,621,797,316.28 at the end of 2022, compared to ¥1,596,699,930.85 at the end of 2021[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥231,873,804.33, a decrease of 21.72% from the previous year[23]. - Basic earnings per share decreased by 21.83% to CNY 1.11 in 2022 from CNY 1.42 in 2021[24]. - Diluted earnings per share also fell by 21.83% to CNY 1.11 in 2022 compared to CNY 1.42 in 2021[24]. - The weighted average return on equity decreased to 16.97% in 2022 from 21.67% in 2021, a decline of 4.7 percentage points[24]. Cash Dividends and Shareholder Returns - The company plans to distribute cash dividends of ¥240 million, with a payout of ¥10 per 10 shares[6]. - The total amount of cash dividends declared is equivalent to 70.62% of the net profit attributable to ordinary shareholders[145]. - The company has a cash dividend policy that mandates a minimum of 40% of the distributable profit to be distributed as dividends in profitable years[141]. - In mature stages without significant capital expenditure, the cash dividend proportion should be at least 80% of the profit distribution[141]. Product Development and Innovation - The company launched new products such as low-sugar mousse cakes and interactive products to meet health-conscious consumer demands[32]. - The company has focused on product innovation, introducing seasonal and scenario-based products to enhance consumer engagement[32]. - New product offerings included innovative flavors such as white peach snow mochi and various types of mooncakes, enhancing the product lineup for seasonal occasions[48]. - The product development strategy included integrating traditional cultural elements into new product designs, enhancing brand storytelling and consumer connection[57]. - The company is focusing on diversifying its product ingredients, incorporating functional food components such as dietary fibers and plant extracts[84]. Market Trends and Industry Insights - The Chinese baking industry market size reached RMB 285.3 billion in 2022, with a year-on-year growth of 9.7%[38]. - The number of registered enterprises in the Chinese baking industry reached 29,345 in 2022, marking a historical high and indicating strong growth from 2020 to 2022[40]. - The baking industry is expected to continue expanding, with projections estimating the market size to reach RMB 351.8 billion by 2025[38]. - The baking industry in China is experiencing a significant expansion, with baked goods becoming a staple in daily diets, particularly bread, which is increasingly favored as a breakfast option[82]. - Short-shelf-life baked goods are gaining popularity due to rising health consciousness among consumers, leading brands to launch more short-shelf-life products[83]. Marketing and Sales Strategies - The company operates 741 physical stores and utilizes various e-commerce platforms to cover both B2B and B2C sales[32]. - The company adopted a multi-channel marketing strategy, leveraging platforms like Weibo, WeChat, and Douyin for targeted promotions[57]. - The company is enhancing its marketing strategies to improve market share through targeted promotions and seasonal marketing campaigns[99]. - Membership growth was a focus, with the company enhancing member experience through digital tools and increasing engagement across various age demographics[59]. Operational Efficiency and Digital Transformation - The company implemented a digital transformation strategy to improve production efficiency and supply chain collaboration, utilizing SAP and ERP systems for automated data flow[36]. - The company upgraded its operational systems to enhance customer experience and increase member engagement through various online and offline marketing strategies[35]. - The company is prepared to implement price stabilization measures if stock prices fall below the audited net asset value per share[162]. Governance and Compliance - The audit report for the company was issued by KPMG Huazhen, confirming the accuracy and completeness of the financial statements[5]. - The company has established a robust internal control system, receiving a standard unqualified opinion from KPMG on its internal control audit report[109]. - The company actively engages with investors through various communication channels, enhancing transparency and understanding of its operations[108]. - The company has not faced any penalties from securities regulatory agencies in the past three years, reflecting compliance and governance[124]. Social Responsibility and Community Engagement - The company has initiated a public welfare program to support underprivileged children, reinforcing its corporate social responsibility[99]. - The company has actively engaged in social responsibility initiatives, contributing a total of 393.66 million CNY to various charitable activities, including cash and material donations[152]. Employee Development and Training - The company is committed to talent development, enhancing its training and assessment systems to improve employee skills and foster a positive work environment[37]. - The company conducted nearly 600 training sessions throughout the year, covering over 4,000 employees, to enhance skills and knowledge[137]. - The company has a dual-channel talent growth mechanism aimed at cultivating versatile talents to meet strategic development needs[136]. Financial Management and Investments - The company has a total of 267.4 million RMB in bank wealth management products, with an outstanding balance of 110.4 million RMB, reflecting a strategic investment approach[188]. - The company has engaged in structured deposits with various banks, including a 15 million RMB deposit with a 2.70% annualized return, indicating a focus on optimizing cash management[190]. - The company has invested ¥30 million in the Taiwan Strait Industry Investment Fund, with an initial payment of ¥4.5 million completed in July 2022[91].