益生股份(002458) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was approximately CNY 2.11 billion, an increase from CNY 2.10 billion in 2021, reflecting a growth of about 0.07%[26] - The company's operating revenue for 2022 was approximately CNY 2.11 billion, representing a 0.64% increase compared to 2021[45] - The net profit attributable to shareholders for 2022 was a loss of approximately CNY 367 million, a decrease of 1,348.13% compared to the previous year[45] - The net cash flow from operating activities for 2022 was approximately CNY 90.43 million, down 10.65% from 2021[45] - The total assets at the end of 2022 were approximately CNY 5.93 billion, an increase of 4.62% from the end of 2021[45] - The net assets attributable to shareholders decreased to approximately CNY 2.74 billion, a decline of 13.55% compared to the end of 2021[45] - The basic earnings per share for 2022 was -CNY 0.37, a decrease of 1,333.33% from the previous year[45] - The diluted earnings per share for 2022 was also -CNY 0.37, reflecting the same percentage decrease[45] - The weighted average return on equity for 2022 was -12.31%, down from 0.90% in 2021[45] - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of approximately CNY 372 million for 2022[45] - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the past three years[48] Revenue Breakdown - Chicken revenue accounted for ¥1,896,357,346.56, making up 89.81% of total revenue, with a slight increase of 0.58% year-over-year[118] - Pork revenue decreased by 18.23% to ¥34,725,427.57, down from ¥42,467,779.50 in the previous year[118] - Dairy product revenue fell by 3.11% to ¥63,650,472.25, compared to ¥65,690,799.86 last year[118] - Revenue from agricultural equipment decreased by 4.57% to ¥76,261,256.21, down from ¥79,915,932.86[118] Cost and Expenses - The cost of raw materials for poultry farming increased by 15.81% year-on-year, primarily due to rising commodity prices and increased feed usage during the egg-laying period[99] - Labor costs rose by 24.22% compared to the previous year, attributed to higher wage levels[99] - Fuel and power costs increased by 25.08%, driven by both higher production levels and rising fuel prices[99] - Depreciation and amortization costs grew by 23.92%, linked to increased production during the egg-laying period[99] - Financial expenses rose by 37.07% to ¥81,453,857.09, attributed to increased bank loans for supplementing working capital, leading to higher interest expenses[138] Research and Development - The company is focused on enhancing its R&D capabilities to improve technology and product quality, thereby strengthening its competitive advantage in future developments[143] - The company is currently executing several key R&D projects aimed at improving poultry breeding technology and enhancing product performance[141] - The company’s R&D investment increased by 24.31% to ¥98,034,931.61, representing 4.64% of total revenue, up from 3.76%[127] - Research and development expenses increased by 60.01% to ¥95,717,992.93, primarily due to ongoing investments in the development of small white feather broiler chickens and disease purification projects[138] - The number of R&D personnel increased significantly, with a 272.73% rise in bachelor's degree holders to 41[127] - The number of R&D personnel increased by 186.67% to 129, with a notable rise in the number of master's degree holders by 150%[140] Market Position and Strategy - The company is focused on expanding its market share in the breeding industry, particularly in the pig breeding segment, which has significant growth potential[53] - The company aims to expand its parent stock breeding capacity while increasing the production of commercial broiler chicks, solidifying its market position[74] - The company has established long-term strategic partnerships with major foreign breeding suppliers for grandparent stock chickens, ensuring stable procurement of production biological assets[105] - The company has implemented a centralized procurement model for raw materials, which includes feed, corn, soybean meal, and veterinary supplies, to reduce costs and ensure quality[105] - The company is focusing on the dual-driven strategy of both chicken and pig breeding to enhance its risk resistance and profitability capabilities[111] Operational Improvements - The company has implemented measures to mitigate risks related to raw material price changes, which are influenced by agricultural policies and climate conditions[7] - The company has established a disease monitoring laboratory to ensure the quality of breeding pigs through performance testing and genetic evaluation[61] - The company has introduced advanced breeding techniques, including artificial insemination, to enhance the quality of parent stock broiler chicks[100] - The company has developed patented technologies for disease purification in poultry, contributing to its reputation in the industry[76] - The company has made significant progress in research and development, including the successful completion of key national and provincial projects aimed at improving breeding technologies and disease prevention[111] Cash Flow and Investments - The net cash flow from operating activities for the reporting period was CNY 90.43 million, a decrease of 10.65% compared to CNY 101.21 million in the previous year[153] - The total cash inflow from operating activities was CNY 2.16 billion, showing a slight increase of 0.33% from CNY 2.15 billion in 2021[153] - The cash outflow from investing activities decreased by 62.91% to CNY 302.11 million, compared to CNY 814.56 million in the previous year[153] - The net cash flow from financing activities decreased by 74.28% to CNY 178.99 million, primarily due to an increase in bank loan repayments[154] - The net increase in cash and cash equivalents decreased by 387.15% compared to the previous year, attributed to the reduction in net cash flow from financing activities[154] Company Structure and Governance - The company operates in the agricultural and animal husbandry industry, focusing on breeding and sales of poultry and livestock, as well as production and sales of organic fertilizers and feed[191] - The company has a 100% ownership stake in several subsidiaries, including Shandong Lunan Pig Breeding Co., Ltd. and Weihai Yisheng Feed Co., Ltd.[196] - The company has undergone changes in its consolidated financial statement scope, including the cancellation of certain subsidiaries in 2022[197] - The company’s financial statements were approved by the board of directors on April 16, 2023[192] - The company has implemented stock option and restricted stock incentive plans to motivate employees and align their interests with shareholders[188]