天邦食品(002124) - 2021 Q4 - 年度财报

Financial Performance - The total revenue for 2021 was CNY 10,506,630,781.93, a decrease of 2.39% compared to CNY 10,764,148,563.64 in 2020[18]. - The net profit attributable to shareholders was CNY -4,461,798,357.13, representing a decline of 237.50% from CNY 3,244,986,853.52 in the previous year[18]. - The net cash flow from operating activities was CNY -555,707,470.19, a decrease of 112.48% compared to CNY 4,453,081,509.46 in 2020[18]. - The basic and diluted earnings per share were both CNY -2.43, a decline of 227.23% from CNY 1.91 in 2020[18]. - The weighted average return on equity was -73.16%, down 133.45% from 60.29% in the previous year[18]. - The company reported a significant decline in net profit, indicating potential uncertainties in its ongoing operations[19]. - The company achieved a non-recurring profit of CNY 443.36 million in 2021, a significant recovery from a loss of CNY 67.33 million in 2020[25]. - The company reported a significant increase in raw material costs for pig farming, which rose by 130.09% to CNY 5,748,539,407.44[65]. - The company reported a significant increase in management expenses, totaling ¥1,262,784,697.81, primarily due to the expansion of pig farming and slaughtering operations[74]. - The company reported a significant decrease in net profit for its subsidiary Han Shi Wei Food Group, with a net loss of CNY 4.64 billion in the reporting period[99]. Revenue Breakdown - Revenue from pig farming decreased by 20.88% to CNY 6.35 billion, accounting for 60.44% of total revenue[58]. - Revenue from food processing surged by 95.48% to CNY 2.66 billion, representing 25.28% of total revenue[58]. - The company achieved a sales revenue of 10.507 billion yuan, a year-on-year decrease of 2.39%, and a net loss attributable to shareholders of 4.462 billion yuan, a significant decline from a profit of 3.245 billion yuan in the same period last year[37]. - The company's pork processing business generated revenue of 2.657 billion yuan, a year-on-year increase of 95.48%, with a total of 1.3313 million pigs slaughtered[39]. - The company reported a total revenue amount of 100% included in the evaluation scope, indicating comprehensive coverage of its financial statements[187]. Production and Operations - The company is transitioning from a pig farming enterprise to a food company, focusing on fresh pork and meat products after divesting from its biological products and aquaculture feed businesses[32]. - The company employs a two-point production model for pig farming, enhancing biosecurity and operational efficiency[33]. - The company plans to expand its production capacity through a combination of self-built, leased, and contracted farms, optimizing its operational model[34]. - The number of pigs sold reached 4.28 million, an increase of 39.06% year-on-year, but the average selling price dropped by 64.29%[38]. - The company slaughtered 1.3313 million pigs in 2021, a year-on-year increase of 307.37%[50]. Strategic Initiatives - The company plans to enhance its processing capacity with the completion of a modern slaughter and deep processing facility in Fuyang, which is set to begin trial operations in January 2022[46]. - The company is focusing on the integration of the pig breeding and meat processing industries to enhance competitiveness and operational efficiency[41]. - The company aims to achieve a pig output of over 5 million heads in 2022, focusing on regions with high demand and premium pricing such as the Bohai Rim, Yangtze River Delta, and Greater Bay Area[107]. - The company is committed to digital transformation and innovation to become China's leading pork brand while ensuring food safety and quality[105]. - The company is exploring a "rental and breeding" model to expand its operations while ensuring biosecurity and production efficiency[55]. Governance and Management - The company has established a governance framework that complies with the Company Law, Securities Law, and Corporate Governance Guidelines, ensuring effective execution[189]. - The company has a fully independent financial department with its own accounting system and tax obligations, without any shared bank accounts with controlling shareholders[135]. - The company has conducted multiple shareholder meetings with participation rates ranging from 23.59% to 31.06% during the reporting period, ensuring transparency and engagement with investors[136]. - The company has maintained a stable leadership structure despite recent changes, ensuring continuity in its strategic initiatives[141]. - The company’s commitment to transparency is reflected in the detailed reporting of board activities and compensation in its annual report[159]. Environmental Responsibility - The company is committed to environmental responsibility, adhering to pollution discharge standards and monitoring its environmental impact[192]. - The company faced administrative penalties totaling 1,114,739.00 CNY for exceeding water pollution discharge standards and failing to establish hazardous waste management records[196]. - The company has implemented pollution prevention facilities that are operational and in compliance with environmental regulations[195]. - The company has developed an emergency response plan for environmental incidents, enhancing its ability to respond to pollution events[194]. - The company has made significant investments in pollution control technologies to enhance its environmental performance[197]. Social Responsibility and Community Engagement - The company actively engages in poverty alleviation through modern pig farming projects, utilizing advanced breeding technology and various cooperative models[199]. - The company supports local communities by providing virtual job positions and assisting vulnerable groups such as the elderly and low-income households[199]. - In Jiangxi, the company adopts a "company + farmer" model, integrating resources to expand family farm operations under the "precise poverty alleviation" concept[199]. - The company has engaged in direct donations and created job opportunities as part of its poverty alleviation initiatives[200]. - The company has implemented a replicable family farm model in multiple counties in Jiangxi, focusing on sustainable poverty alleviation[199].