FENGLE SEED(SZ:000713)2023-04-19 16:00Financial Performance - The company's operating revenue for 2022 was ¥3,005,259,332.24, representing a 14.83% increase compared to ¥2,617,242,367.84 in 2021[24]. - The net profit attributable to shareholders decreased by 67.86% to ¥58,811,922.83 from ¥182,992,849.45 in the previous year[24]. - The cash flow from operating activities significantly increased by 412.57% to ¥396,058,647.71, compared to ¥77,269,518.94 in 2021[24]. - The basic earnings per share dropped by 67.85% to ¥0.0958 from ¥0.298 in 2021[24]. - Total assets at the end of 2022 were ¥2,923,986,705.65, a 7.75% increase from ¥2,713,568,456.91 at the end of 2021[24]. - The net assets attributable to shareholders increased by 2.45% to ¥1,923,925,353.62 from ¥1,877,941,693.85 in 2021[24]. - The company achieved operating revenue of 3,005.26 million yuan in 2022, an increase of 388.02 million yuan, or 14.83% year-over-year[62]. - Net profit attributable to shareholders was 58.81 million yuan, a decrease of 124.18 million yuan, or 67.86% year-over-year; however, net profit after deducting non-recurring gains and losses increased by 4.69 million yuan, or 11.2%[62]. - The company reported a gross profit margin of 7.14% for agricultural chemicals, a decrease of 2.37% compared to the previous year[72]. - The company reported a net profit margin of 12% for 2022, indicating strong profitability amidst market challenges[198]. Dividend Distribution - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares to all shareholders, based on a total of 614,014,980 shares[5]. - The cash dividend accounted for 100% of the total profit distribution amount, with a distributable profit of 512,689,480.11 yuan[163]. - The company's cash dividend policy aligns with its articles of association and shareholder meeting resolutions, ensuring transparency and compliance[162]. Business Operations - The company operates in the seed industry, which is subject to specific regulatory requirements as outlined by the Shenzhen Stock Exchange[4]. - The company’s main business includes the production and sale of crop seeds and fertilizers, with specific projects limited to its subsidiaries[21]. - The company has undergone changes in its business scope, expanding into various agricultural products and services, including seed production and sales[24]. - The company has established 15 breeding stations and 280 testing sites across major agricultural ecological zones in China, enhancing its research capabilities[44]. - The company has established a research and development center and collaborates with various academic institutions for new product development in the agrochemical sector[48]. Market and Industry Trends - The seed industry is supported by the "Seed Industry Revitalization Action Plan," which aims to enhance innovation and protect variety rights, promoting high-quality development in the sector[33]. - The pesticide industry is experiencing a shift towards high-efficiency and green products, with increasing industry concentration and improved product structures due to policy guidance[34]. - The fertilizer industry is undergoing supply-side structural reforms, with a focus on stabilizing prices and ensuring supply amid global market pressures[35]. - The company is focusing on the integration of seeds, pesticides, and fertilizers, developing various composite and ecological fertilizers[53]. Research and Development - The company has a dedicated team for research and development, aiming to enhance its core competitiveness in the seed industry[126]. - The company is developing multiple new rice and corn varieties aimed at enhancing market competitiveness and increasing product diversity[83]. - Research and development expenses increased by 64.55% year-on-year to ¥65,621,758.85, primarily due to investments in seed research[82]. - The company has developed advanced technologies in rice hybridization and maize double haploid techniques, significantly improving breeding efficiency[56]. Risk Management - The company emphasizes the risks associated with seasonal fluctuations in seed production and sales, as well as market price volatility and natural disasters[4]. - The company's risk management processes have been enhanced, focusing on investment management and fixed asset management to mitigate potential risks[67]. - The company is facing risks from natural disasters and pest outbreaks, which could impact seed production, and is implementing measures to mitigate these risks[121]. Corporate Governance - The company emphasizes the importance of corporate governance, ensuring that all shareholders, especially minority shareholders, have equal rights to information and participation[126]. - The company has a robust internal control system with a board of directors that includes various committees to enhance governance and compliance[126]. - The company has maintained independence in its operations, with no overlapping personnel between the company and its controlling shareholder[130]. - The company is committed to improving its internal control and compliance management to enhance operational efficiency and risk management[120]. Environmental Responsibility - The company has established wastewater and waste gas treatment facilities that comply with national requirements, ensuring that production wastewater meets discharge standards before entering the park's sewage treatment plant for further processing[179]. - The company has invested in complete environmental protection facilities and complies with legal requirements for waste disposal and environmental tax payments[182]. - The company actively participates in ecological protection and restoration projects, contributing to sustainable development efforts[185]. - The company has implemented a comprehensive environmental monitoring plan, conducting self-monitoring according to local environmental department requirements and reporting results publicly[181]. Strategic Initiatives - The company plans to expand its market presence by launching new agricultural products and enhancing its research and development capabilities[97]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[97]. - The company is committed to sustainable practices and aims to reduce operational costs by 8% through efficiency improvements[97]. - The company is focusing on high-profit products in the spice industry while controlling operational risks and enhancing profitability[119].