顺鑫农业(000860) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥14,869,379,036.69, a decrease of 4.14% compared to ¥15,511,399,521.15 in 2020[6]. - The net profit attributable to shareholders for 2021 was ¥102,302,082.57, representing a significant decline of 75.64% from ¥420,008,785.08 in 2020[6]. - The net cash flow from operating activities was negative at ¥348,678,880.55, a decrease of 122.56% compared to ¥1,545,548,332.46 in 2020[6]. - The basic earnings per share for 2021 was ¥0.1379, down 75.64% from ¥0.5662 in 2020[6]. - Total assets at the end of 2021 were ¥19,392,497,386.66, a decrease of 10.52% from ¥21,673,379,639.15 at the end of 2020[6]. - The company achieved total revenue of CNY 14.87 billion in 2021, a decrease of 4.14% compared to CNY 15.51 billion in 2020[57]. - The net profit attributable to shareholders was CNY 102 million, down 75.64% year-on-year[55]. - The liquor segment generated revenue of CNY 10.23 billion, a slight increase of 0.40% year-on-year, accounting for 68.77% of total revenue[55]. - The pork segment reported revenue of CNY 3.60 billion, a decrease of 22.31% year-on-year, with slaughtering and breeding revenues at CNY 3.31 billion and CNY 289 million, respectively[55]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 0.25 CNY per 10 shares to all shareholders, based on a total of 741,766,989 shares[8]. - The total cash dividend distributed to shareholders is CNY 18,544,174.73, with a dividend of CNY 0.25 per 10 shares[141]. - The cash dividend represents 100% of the total profit distribution amount, reflecting a strong commitment to returning value to shareholders[140]. Business Operations - The company has maintained its main business operations without changes since its listing[25]. - The company has not reported any changes in its major business operations since its establishment[25]. - The company maintains a complete industrial chain in the pork industry, with a slaughter capacity of 3 million heads per plant and a cold storage capacity of 40,000 tons[39]. - The company has established a comprehensive supply chain in the pork industry, integrating breeding, slaughtering, processing, and logistics[56]. - The company is actively addressing challenges from the "pig cycle" downturn by implementing biosecurity measures and restoring slaughtering productivity[56]. Market and Product Development - The company plans to continue enhancing brand premium capabilities and market competitiveness through product development and differentiation strategies[38]. - The company has launched several new products, including the premium Niulanshan series, which has been well received in key markets such as Beijing and the Yangtze River Delta[40]. - The company plans to enhance brand value through product structure upgrades and has launched high-end products like "Kuisenghao Zunxi" to boost the Baijiu category[55]. - The company aims to enhance brand recognition by establishing strong associations between the Niulanshan brand and mid-to-high-end core products, upgrading visual branding, and engaging with younger consumers[98]. - The company plans to increase the production capacity of processed and small-packaged products, promoting them through retail and e-commerce channels to expand market reach[98]. Environmental Management - The company operates a wastewater treatment facility at Niulanshan Distillery with a capacity of 6,000 tons per day, which has been functioning normally since its commissioning in 2014[158]. - The company has implemented a 24-hour online monitoring system for wastewater discharge at Pengcheng Food, tracking parameters such as COD, ammonia nitrogen, and total phosphorus[159]. - The company has committed to publicizing its wastewater and air emissions monitoring data monthly through its official website[159]. - The company has made progress in carbon emission verification and energy-saving self-evaluation as per the requirements of the Beijing Ecological Environment Bureau[161]. - The company has established an emergency response plan for environmental incidents, led by the general manager[158]. Corporate Governance - The company has maintained compliance with corporate governance standards, ensuring independence from its controlling shareholders in operations and finances[104]. - The company held its annual shareholder meeting with a participation rate of 53.21% on May 19, 2021, discussing key resolutions and future strategies[105]. - The company has maintained a stable management team with no changes in the positions of directors and senior management during the reporting period[111]. - The management team is committed to maintaining corporate governance and transparency, as evidenced by the election of new independent directors[110]. - The company has a governance structure involving the shareholders' meeting, board of directors, supervisory board, and management, ensuring clear division of responsibilities and mutual supervision among departments[145]. Related Party Transactions - The total amount of related party transactions for 2021 was 27,060.04 million yuan, within the estimated range of 42,640.00 million yuan[192]. - The company engaged in various related party transactions, including labor services and product sales, with significant transactions including 14,758.71 million yuan for engineering services and 5,852.17 million yuan for advertising services[187]. - The company reported that the price for related party transactions was based on market pricing, ensuring compliance with market standards[187]. - The company maintained transparency in its related party transactions, with all transactions disclosed in accordance with regulatory requirements[192]. Legal Matters - The company is involved in a lawsuit with Beijing Yao Ah Yao Catering Management Co., with a disputed amount of 318,400 RMB, which has been ruled but lacks execution conditions[181]. - The company faced a lawsuit from Quzhou Jiuping Trading Co., with a claim of 3.2857 million RMB, which resulted in a judgment requiring compensation of 800,000 RMB[181]. - A contract dispute with Beijing Shunkang Hongtai Packaging Technology Co. resulted in a judgment requiring the defendant to pay 2,669,254.06 RMB, which has been fully executed[181]. - The company has a pending case against Beijing Rongjin Lehua Investment Management Co., with a claim of 3 million RMB, of which 213,800 RMB has been recovered, leaving an outstanding amount of 2,786,200 RMB[182]. - The company is involved in a trademark infringement case with Liu Qiulin, with a claim of 63,000 RMB, and the court has ruled in favor of the company[184].