皇氏集团(002329) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥2,568,690,730.34, an increase of 3.15% compared to ¥2,490,168,717.50 in 2020[24]. - The net profit attributable to shareholders was a loss of ¥471,871,670.86, representing a decrease of 244.01% from a loss of ¥136,198,564.49 in 2020[24]. - The basic earnings per share for 2021 was -¥0.5633, a decline of 243.89% from -¥0.1626 in 2020[25]. - The net profit attributable to shareholders for Q4 2021 was a loss of approximately ¥489.87 million, while the total net profit for the year was negative, indicating ongoing financial challenges[31]. - The company reported a non-recurring profit of approximately ¥48.29 million for 2021, down from ¥55.21 million in 2020, reflecting a decrease of about 12.5%[32]. - The company reported a net loss attributable to shareholders of CNY 51,543,692.95 in Q4 2021, compared to a profit of CNY 4,101,929.68 in Q4 2020[80]. - The company reported a significant impact from the pandemic on its sales channels and the cost of raising water buffaloes[136]. Cash Flow and Investments - The net cash flow from operating activities was ¥266,229,464.68, a significant increase of 692.80% compared to a negative cash flow of ¥44,910,411.54 in 2020[25]. - The net cash flow from investing activities decreased by 157.17% year-on-year, mainly due to cash received from equity investments in the previous year[107]. - The net cash flow from financing activities decreased by 139.75% year-on-year, primarily due to cash payments for maturing medium-term notes[108]. - The total investment amount for the reporting period was 59.12 million, a decrease of 68.34% compared to the previous year's investment of 186.73 million[121]. - The company reported an investment loss of 65.33 million, accounting for 14.04% of total profit, primarily due to losses from joint ventures[111]. Revenue Breakdown - The company's revenue from the distribution model in 2021 was approximately ¥1.69 billion, representing a year-on-year increase of 26.87%[49]. - The revenue from the direct sales model in 2021 was approximately ¥379.88 million, with an 18.92% year-on-year growth[49]. - The revenue from low-temperature milk reached approximately ¥840.81 million in 2021, an increase of 11.70% compared to 2020[51]. - The revenue from ambient milk surged to approximately ¥801.05 million, marking a significant 43.88% increase year-on-year[51]. - The revenue from low-temperature milk increased by 12.09% to CNY 974,842,562.30, while the revenue from ambient milk surged by 38.08% to CNY 1,037,761,082.99[82]. Market Expansion and Strategy - The company aims to expand its market reach beyond its core regions to other areas in China, including the Yangtze River Delta and Greater Bay Area[39]. - The company is actively expanding its market network through a combination of direct sales, distribution, and e-commerce channels[48]. - The company plans to continue expanding its product offerings and market presence to drive future growth[78]. - The company aims to become a "billion-level dairy enterprise" by focusing on the sales growth of water buffalo milk products and expanding into key markets in Central, East, and South China[129]. - The company is planning to develop new products and technologies to strengthen its market position[137]. Operational Efficiency and R&D - The company has established a unique probiotic strain resource bank, which is the first of its kind in the domestic dairy industry[65]. - The company is leveraging technological innovation through the Huangshi Research Institute to develop high-tech dairy products, including those incorporating hyaluronic acid and probiotics[73]. - The company completed several key R&D projects aimed at improving production efficiency and product quality, including high-performance heat recovery technology and multi-strain symbiotic fermentation technology[100]. - The company is focusing on the development of children's milk enriched with DHA and ARA, essential for child development[102]. - The company is exploring partnerships with tech firms to integrate AI in production processes, aiming for a 20% increase in operational efficiency[162]. Governance and Compliance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The company has a complete and independent accounting system and financial management policies, ensuring compliance with tax obligations[145]. - The company has implemented risk prevention mechanisms to enhance sustainable development[141]. - The company has no significant discrepancies with the regulations set by the China Securities Regulatory Commission regarding corporate governance[141]. - The company is committed to continuous training for its board members and management to improve compliance awareness[196]. Challenges and Risks - The company has faced uncertainties regarding its ability to continue as a going concern, as indicated by the negative net profits over the last three years[26]. - The company faces risks from the ongoing COVID-19 pandemic, which has affected costs and logistics, and will maintain strict pandemic prevention measures[133]. - The company is addressing management risks associated with its growing scale by improving strategic planning and internal control processes[134]. - The company has faced regulatory challenges, including warnings from the China Securities Regulatory Commission regarding information disclosure and accounting practices[165]. Employee and Management Changes - The company experienced a leadership change with the resignation of several key executives, including the president and vice president, effective January 3, 2022[152]. - The total number of employees at the end of the reporting period is 2,782, with 1,060 in sales and 1,055 in production[184]. - The company has established a compensation system based on employee positions, linking corporate performance and individual performance closely[186]. - The company reported a total pre-tax remuneration of 273.99 million CNY for its directors, supervisors, and senior management in 2021[169].