大北农(002385) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was ¥32,396,746,022.43, an increase of 3.41% compared to ¥31,328,078,121.44 in 2021[14]. - The net profit attributable to shareholders in 2022 was ¥55,601,766.41, a significant turnaround from a loss of ¥440,340,985.21 in 2021, representing a 112.63% increase[14]. - The net profit after deducting non-recurring gains and losses was ¥91,336,448.59 in 2022, compared to a loss of ¥856,670,138.08 in 2021, marking a 110.66% improvement[14]. - The net cash flow from operating activities increased by 24.69% to ¥1,432,351,027.90 in 2022 from ¥1,148,769,576.72 in 2021[14]. - The total assets at the end of 2022 were ¥31,174,429,135.15, reflecting a 15.91% increase from ¥26,894,815,883.44 at the end of 2021[14]. - The company's basic earnings per share for 2022 was ¥0.01, a recovery from a loss of ¥0.11 per share in 2021, representing a 109.09% increase[14]. - The weighted average return on equity improved to 0.52% in 2022 from -4.05% in 2021, an increase of 4.57 percentage points[14]. - The company reported a net profit of ¥384,224,594.98 in Q4 2022, a significant recovery from losses in the previous quarters[17]. - The company received government subsidies amounting to ¥179,281,358.35 in 2022, compared to ¥128,714,242.72 in 2021[18]. - The total liabilities at the end of 2022 were not disclosed, but the net assets attributable to shareholders were ¥10,752,974,607.43, a slight increase of 0.15% from ¥10,737,179,620.57 in 2021[14]. Market and Industry Trends - The total production of industrial feed in China reached 302.23 million tons in 2022, an increase of 3.0% compared to the previous year[21]. - The number of large-scale feed enterprises producing over 1 million tons annually decreased to 36, accounting for 57.5% of the total feed production, down by 2.2 percentage points from the previous year[21]. - In 2022, the national pig output was 699.95 million heads, representing a growth of 4.3% year-on-year, while pork production reached 55.41 million tons, up by 4.6%[22]. - The per capita pork consumption in 2022 was 26.9 kg/year, marking a 6.7% increase and the highest consumption level in nearly four years[22]. - The feed industry is experiencing a trend towards centralization, with larger companies gaining advantages in cost control and quality management amid rising raw material prices[21]. - The feed industry is entering a phase of stable development and accelerated concentration, with large enterprises gaining advantages in procurement cost control and quality management[86]. - The integration of the feed and livestock industries is accelerating, with companies expanding their operations across the entire supply chain[92]. - The digitalization of the industry is expected to drive significant changes in livestock farming, with smart solutions being developed for farm management[93]. Risks and Challenges - The company faces risks from major animal diseases, particularly African swine fever, which currently has no effective vaccine, potentially impacting production and feed demand[4]. - The company has increased its scale of pig farming in recent years, but is exposed to risks from price volatility in the pig market, which could adversely affect operational stability[4]. - The cost of feed raw materials accounts for over 90% of the total cost of feed products, with major ingredients including corn, soybean meal, and fish meal, which are subject to significant price fluctuations due to various market factors[3]. - The company is actively monitoring the supply and price volatility of feed raw materials, which can significantly impact the costs of feed and farming operations[3]. Research and Development - The company holds 2,503 patent applications, with 1,896 patents granted as of the end of 2022[36]. - The company has a strong focus on R&D, with a leading technology research and development system in the industry, emphasizing biotechnology and crop seed development[40]. - The company is developing a new product utilizing IoT-PN precision nutrition technology, which aims to enhance feed performance testing accuracy and convenience[54]. - The project on bio-manufactured protein feed aims to reduce the use of soybean meal, contributing to cost reduction and increased product competitiveness[54]. - The company has made significant progress in developing a new vaccine for pig circovirus, which is currently in the registration phase, enhancing its product portfolio[55]. - The company is enhancing its R&D efforts, particularly in new product development, to drive future growth[145]. Corporate Governance and Compliance - The company emphasizes the importance of adhering to the disclosure requirements set by the Shenzhen Stock Exchange for the livestock and aquaculture industry[3]. - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and senior management, ensuring accountability for any misrepresentation[3]. - The company has established a comprehensive internal control system, including strict accounting controls and a performance evaluation mechanism to enhance operational efficiency[107]. - The board of directors consists of 9 members, with 4 independent directors, ensuring compliance with legal requirements and effective governance[110]. - The company has implemented a performance evaluation system covering all employees, fostering a fair and efficient work environment[113]. - The company has not received any administrative regulatory measures from supervisory authorities during the reporting period, indicating strong compliance[107]. Environmental Responsibility - The company strictly adheres to various environmental protection laws and industry standards during its operations[173]. - The company has implemented effective internal controls, as evidenced by the absence of any major defects identified in the internal control self-assessment report[168]. - The company has established a nutrient value database for feed raw materials, enhancing its ability to formulate diversified low-protein diets[184]. - The company has invested in 23 poverty alleviation projects in key national support areas, focusing on feed industry and breeding projects to drive local economic development[188]. - The company has implemented a circular economy model that integrates breeding, waste resource utilization, and ecological agriculture to reduce greenhouse gas emissions[184]. Shareholder Engagement - The company has established a comprehensive communication channel for investor relations, including a dedicated email for inquiries[10]. - The company engaged in multiple investor communications throughout 2022, discussing business performance and future strategies[105][106]. - The company plans to issue A-shares in 2022, with a proposal for the use of raised funds being analyzed[126]. - The company has proposed a three-year shareholder return plan for 2022-2024, indicating a commitment to shareholder value[126]. - The company is committed to transparency and governance, as evidenced by the regular updates and reports provided during shareholder meetings[126].