Bailong Chuangyuan(SH:605016)2022-04-28 16:00Financial Performance - The company achieved total operating revenue of RMB 653,356,099.29 in 2021, representing a year-on-year increase of 30.77%[17]. - The net profit attributable to shareholders of the listed company was RMB 104,479,175.56, up 9.34% compared to the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 95,326,737.01, reflecting a growth of 7.38% year-on-year[17]. - The net cash flow from operating activities was RMB 96,195,458.43, a decrease of 21.04% compared to the previous year, primarily due to increased raw material purchases[22]. - The net assets attributable to shareholders of the listed company increased by 74.14% to RMB 1,203,461,305.67 at the end of 2021[22]. - Total assets grew by 53.41% to RMB 1,282,511,386.49 at the end of 2021[22]. - Basic earnings per share decreased by 10.89% to RMB 0.90 in 2021[21]. - The weighted average return on net assets was 10.30%, down 4.54 percentage points from the previous year[21]. - The company reported a quarterly revenue of RMB 181,174,279.79 in Q4 2021, contributing to the overall annual growth[25]. Dividend and Capital Changes - The company plans to distribute a cash dividend of 10 shares for every 0.85 RMB, totaling 10.78 million RMB (before tax) to shareholders[4]. - The total share capital will increase from 126.8 million shares to 177.52 million shares after a capital reserve conversion of 4 shares for every 10 shares held[4]. Audit and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of the financial report[4]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[4]. - The board of directors has ensured that all members attended the meeting, affirming the report's integrity[4]. - The company has not violated any decision-making procedures regarding external guarantees[4]. - The company is committed to maintaining transparency and accuracy in its financial disclosures[4]. Risks and Future Development - The company has outlined potential risks in its future development strategy, which investors should be aware of[4]. - The report includes a detailed discussion of the company's future development and associated risks[4]. - The company faces risks related to market competition and potential product substitution, emphasizing the need for continuous R&D investment[163]. - The company is exposed to raw material price volatility, which could significantly impact profit margins if costs rise[164]. - The company is also at risk from currency fluctuations, particularly with increasing export volumes settled in USD[165]. Revenue Growth and Product Performance - The company’s product structure optimization and increased customer demand were key factors driving revenue growth[19]. - Main business revenue reached 638.52 million RMB, growing by 30.02% compared to the previous year[32]. - The dietary fiber series saw revenue of 292.53 million RMB, a significant increase of 51.55% year-on-year, driven by rising demand in the U.S. and domestic markets[35]. - The health sweetener series generated revenue of 82.99 million RMB, marking a remarkable growth of 751.22% due to increased overseas demand and new product launches[35]. - The overseas revenue segment saw a remarkable growth of 71.18% year-on-year, contributing significantly to overall revenue[111]. Research and Development - The company has received 50 invention patents and 1 utility model patent, showcasing its strong R&D capabilities in key production technologies[82]. - Research and development expenses rose by 51.36% to CNY 23.26 million, driven by new development projects[102]. - The company is committed to enhancing its R&D capabilities through partnerships with universities and research institutions, which will strengthen its technological foundation[156]. - The company has emphasized technological innovation and core technology R&D, enhancing product competitiveness and market resilience[125]. Corporate Governance - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, enhancing corporate governance and ensuring orderly development[168]. - The board of directors consists of nine members, including three independent directors, who actively participate in training and fulfill their responsibilities diligently[169]. - The supervisory board is composed of five members, including two employee representatives, ensuring compliance and oversight of financial matters and related transactions[170]. - The company has implemented strict information disclosure practices, ensuring timely and accurate communication with shareholders and regulatory bodies[171]. - The company maintains independence from its controlling shareholders, with no interference in operational decisions or actions that could harm shareholder interests[172]. Market Strategy and Expansion - The company is focusing on expanding its market presence in the health and wellness sector, supported by national policies promoting health-related industries[147]. - The company is actively exploring new industry applications for its products, targeting sectors such as candy, special dietary foods, and pet foods[42]. - The company is focusing on high-end product development, particularly in the health sweetener category, to enhance profitability and market competitiveness[40]. - The company plans to invest CNY 160 million in the construction of a project with an annual production capacity of 15,000 tons of crystallized sugar[141]. - A separate investment of CNY 62 million is planned for a project with an annual production capacity of 20,000 tons of functional sugar drying[142]. Shareholder Engagement - The company has conducted multiple shareholder meetings, including the first extraordinary meeting on January 18, 2021, to approve adjustments to the use of raised funds[173]. - The second extraordinary shareholder meeting was held on March 15, 2021, to further discuss adjustments to the use of raised funds[174]. - The company actively engages with investors through various communication channels, ensuring transparency and support for shareholder interests[171]. Compensation and Management Structure - The total pre-tax compensation for all listed directors and supervisors amounted to 3,948,400 CNY[179]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 3.9484 million yuan[189]. - The remuneration for directors and supervisors is determined by the shareholders' meeting, while senior management remuneration is decided by the board of directors[189]. - The company’s management team includes a mix of genders, with both male and female executives represented[179].