lolo(SZ:000848)2020-03-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 2,255,394,058.97, representing a 6.29% increase compared to CNY 2,121,966,609.34 in 2018[25]. - The net profit attributable to shareholders for 2019 was CNY 464,868,495.52, which is a 12.54% increase from CNY 413,057,313.39 in 2018[25]. - The total profit for the year was CNY 618.24 million, reflecting a growth of 12.57% compared to the previous year[36]. - The basic earnings per share for 2019 was CNY 0.47, up 11.90% from CNY 0.42 in 2018[25]. - The total assets at the end of 2019 were CNY 3,105,501,655.25, a 9.24% increase from CNY 2,842,852,497.72 at the end of 2018[25]. - The net assets attributable to shareholders at the end of 2019 were CNY 1,995,586,297.42, reflecting a 3.82% increase from CNY 1,922,142,893.10 at the end of 2018[25]. - The company achieved operating revenue of CNY 2,255.39 million in 2019, a year-on-year increase of 6.29%[36]. - Revenue from plant protein beverages accounted for 99.91% of total revenue, amounting to CNY 2,253,373,440.87, with a year-on-year growth of 8.57%[54]. - The gross profit margin for plant protein beverages was 52.64%, an increase of 1.24% compared to the previous year[54]. Production and Capacity - The company has a production capacity of over 500,000 tons annually, making it the largest producer of almond milk in China[36]. - The sales volume of LuLu almond milk increased by 4.79% to 223,560.66 tons in 2019, while production volume rose by 11.59% to 237,342.94 tons[55]. - The company's inventory of almond milk increased by 38.69% to 49,408.04 tons due to early stockpiling ahead of the 2020 Spring Festival[55]. Market Strategy and Expansion - The company plans to expand its marketing efforts targeting young urban professionals, focusing on the health benefits of wild almonds[46]. - The company has established a sales network covering 43 cities across Northeast, North China, Central Plains, and Northwest regions, with 6 sales districts and 209 small groups[45]. - The company aims to enhance its production capabilities through smart and flexible manufacturing, which will improve food safety and provide space for new product development[78]. - The company will continue to develop its e-commerce business to meet the purchasing needs of the emerging consumer base[78]. - The company has set a goal to increase its market share and core competitiveness by continuously developing new products and optimizing marketing strategies[78]. Research and Development - The company holds 42 patents, including 12 invention patents, showcasing its strong technological capabilities in the beverage industry[40]. - Research and development expenses increased by 20.52% to CNY 13,686,809.40, attributed to higher personnel costs[62]. - The total R&D expenditure for the reporting period was CNY 13.69 million, accounting for 0.61% of the company's operating revenue and 0.69% of net assets[63]. - The number of R&D personnel decreased by 19.40% from 134 in 2018 to 108 in 2019, with the proportion of R&D personnel dropping from 10.72% to 9.33%[63]. Legal and Compliance Issues - The company is actively pursuing litigation related to trademark infringement to resolve ongoing issues[79]. - The company received a civil judgment from the Shantou Jinping District People's Court on June 3, 2019, confirming the validity of the trademark licensing agreement with Shantou Gaoxin District Lulu South Co., Ltd.[111]. - The company has filed for a retrial to protect its core intellectual property rights, indicating potential future legal costs and impacts on brand influence and market competitiveness[111]. - The company is involved in another lawsuit regarding damages related to associated transactions, with a claim amounting to 135.04 million yuan[112]. - The company emphasizes the importance of protecting its legal rights and interests amid ongoing litigation, which may affect investor confidence[112]. Corporate Governance and Management - The total pre-tax remuneration for the board of directors and senior management amounted to CNY 396.94 million[200]. - The chairman and general manager, Liang Qichao, received a pre-tax remuneration of CNY 58.94 million[200]. - The company has implemented a performance-based annual salary system for its directors and senior management, which includes guaranteed income, position income, and incentive income[198]. - The company’s independent directors have no remuneration from related parties, ensuring independence in their oversight role[200]. - The management team has undergone changes, with the appointment of a new CFO to strengthen financial oversight[186]. Environmental and Social Responsibility - The company has established an emergency response plan for environmental incidents and has registered it with the local environmental protection bureau[146]. - The company's wastewater monitoring includes continuous automatic monitoring of COD and quarterly manual monitoring of ammonia nitrogen, BOD, SS, and pH[146]. - The wastewater treatment facility has a capacity of 1,000 m³/d, and the treated pollutants meet environmental assessment requirements[141]. - A focus on sustainability initiatives is being implemented, with a goal to reduce carbon emissions by 15% over the next three years[181]. Shareholder Information - The company has a total of 978,562,728 shares, with 99.98% being unrestricted shares[158]. - The controlling shareholder, Wanxiang San Nong Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[162]. - The second largest shareholder, Sunshine Property & Casualty Insurance Co., Ltd., holds 5.10% of the shares, totaling 49,906,677 shares[165]. - The company has a total of 53,241 common shareholders at the end of the reporting period[162].