lolo(SZ:000848)2022-04-11 16:00Financial Performance - The company's operating revenue for 2021 was CNY 2,523,907,407.01, representing a 35.65% increase compared to CNY 1,860,643,698.75 in 2020[27]. - Net profit attributable to shareholders for 2021 was CNY 569,504,092.63, up 31.77% from CNY 432,188,575.47 in 2020[27]. - The net cash flow from operating activities increased by 81.78% to CNY 688,132,513.30 in 2021, compared to CNY 378,550,364.75 in 2020[27]. - Basic earnings per share for 2021 were CNY 0.54, a 35.00% increase from CNY 0.40 in 2020[27]. - The total assets at the end of 2021 were CNY 3,508,334,611.06, reflecting a 13.43% increase from CNY 3,092,933,440.81 at the end of 2020[27]. - The net assets attributable to shareholders at the end of 2021 were CNY 2,356,717,293.21, up 7.06% from CNY 2,201,387,767.44 at the end of 2020[27]. - The weighted average return on equity for 2021 was 25.83%, an increase of 4.93 percentage points from 20.90% in 2020[27]. - The company's total revenue for the year reached CNY 2,523,907,407.01, representing a year-on-year increase of 35.65%[39]. - The net profit attributable to shareholders was CNY 56,813,930, marking a 31.06% increase compared to the previous year[39]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of CNY 467,223,617.75 in the fourth quarter[31]. - The company approved a cash dividend of 2.6 RMB per 10 shares, with a total cash dividend amounting to 140,898,829.72 RMB from share repurchases[130]. - The company reported a total distributable profit for 2021 of ¥643,519,180.82, with a total profit distribution (cash dividends and stock buybacks) of ¥639,717,200, which is 133.38% of the average annual distributable profit of ¥47,962,370 over the last three years[135]. - In 2021, the company repurchased 21,864,807 shares for a total amount of ¥140,898,829.72, which accounted for 21.90% of the distributable profit for the year[135]. Market and Sales Performance - The sales volume of almond milk increased by 35.92% to 248,222.41 tons in 2021, up from 182,620.46 tons in 2020, while production volume rose by 67.47% to 271,991.47 tons[47]. - The revenue from the direct sales model surged by 706.79% year-on-year, indicating significant growth in this channel[42]. - The company achieved a gross profit margin of 46.79% for the overall business, a decrease of 3.33 percentage points from the previous year[42]. - Plant protein beverages accounted for 99.90% of total revenue, generating ¥2,521,301,798.90, up 35.60% from ¥1,859,310,490.40 in 2020[53]. - Almond milk sales contributed ¥2,472,148,690.03, representing 97.95% of total revenue, with a growth of 33.84% from ¥1,847,046,260.23 in 2020[54]. Research and Development - The company invested ¥18,819,402.70 in research and development, marking a 71.37% increase from ¥10,981,417.64 in the previous year, reflecting a commitment to product innovation[52]. - The company has developed low-sugar almond and walnut beverages targeting various consumer groups, with flavor formulations confirmed and market expansion planned in East and Southwest China[65]. - The company is preparing to launch new almond milk products with higher plant protein content, targeting the premium market and younger consumers[67]. Corporate Governance and Management - The company maintains strict independence from its controlling shareholder, Wanxiang San Nong Group, in business, personnel, assets, institutions, and finance[95]. - The company has a complete and independent organizational structure, with no subordination to the controlling shareholder[95]. - The company’s board of directors and supervisory board are established in accordance with relevant laws, ensuring independent decision-making[95]. - The company is committed to maintaining a high level of corporate governance and transparency through its board structure[108]. - The company reported a significant leadership change with the resignation of directors Ma Xiang and Ding Xingxian due to work reasons in early 2021[104]. Environmental and Social Responsibility - The company has invested in a wastewater treatment facility with a capacity of 1,000 m³/d, ensuring compliance with environmental standards[158]. - The company actively participates in social responsibility initiatives, including annual fundraising activities[162]. - Cumulative donations reached 836,059.00 RMB, with over 4.6 million RMB allocated to support orphans and disabled children from 2010 to 2020[164]. - The company aims to align its development strategy with social responsibility, focusing on "environmental protection, health, and green" initiatives[164]. Legal and Compliance Issues - The company is involved in a lawsuit with a claimed amount of 138.66 million yuan, which has not formed an estimated liability[182]. - The lawsuit has progressed through various courts, with the Guangdong Shantou Intermediate People's Court rejecting the plaintiff's claims on January 4, 2021[185]. - The company has filed for a retrial, and the second instance hearing was held on January 7, 2022, but the judgment is still pending[185]. - The company has not faced any penalties or rectification measures during the reporting period[190].