双塔食品(002481) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 2,379,315,732.73, representing a 15.06% increase compared to CNY 2,067,933,710.44 in 2017[18]. - The net profit attributable to shareholders for 2018 was CNY 91,885,821.91, a significant increase of 149.02% from CNY 36,899,230.13 in 2017[18]. - The net profit after deducting non-recurring gains and losses reached CNY 79,386,497.16, up 809.87% from CNY 8,725,057.64 in the previous year[18]. - The net cash flow from operating activities was CNY 414,055,362.60, an increase of 836.60% compared to CNY 44,208,111.22 in 2017[18]. - Basic earnings per share for 2018 were CNY 0.070, reflecting a 133.33% increase from CNY 0.030 in 2017[18]. - Operating profit reached ¥107,981,658.44, up 156.04% compared to the previous year[37]. - The company reported a total of 91,372,032.23 RMB in cash dividends through other means, which accounted for 100% of the total distributable profit[76]. - The company reported a net profit attributable to shareholders of 91,885,821.91 CNY for the year[118]. - The total profit for the current period was CNY 109,322,926.10, representing an increase of 153.4% compared to CNY 43,129,832.65 in the previous period[191]. Assets and Liabilities - Total assets at the end of 2018 were CNY 3,796,302,400.87, a decrease of 12.34% from CNY 4,330,611,864.54 at the end of 2017[18]. - The net assets attributable to shareholders were CNY 2,587,461,859.26, showing a slight decrease of 0.45% from CNY 2,599,265,895.03 in 2017[18]. - The company reported a decrease in cash and cash equivalents from CNY 511.18 million at the beginning of the year to CNY 369.14 million at the end of the year[182]. - Total assets decreased to CNY 3,569,764,794.33 from CNY 3,706,787,400.11, a decline of 3.7%[187]. - Current liabilities decreased to CNY 949,009,172.69 from CNY 1,124,134,387.19, a reduction of 15.5%[188]. - The total equity attributable to shareholders was CNY 2,595,623,741.33, compared to CNY 2,565,621,126.59, reflecting a slight increase of 1.2%[188]. Cash Flow - The net cash flow from operating activities rose by 836.60% to ¥414,055,362.60, driven by a 13.67% increase in cash received from sales[51]. - The cash flow from operating activities was CNY 2,475,370,728.78, an increase from CNY 2,177,602,885.87 in the previous period[197]. - Cash outflow from operating activities was CNY 2,322,740,105.37, slightly up from CNY 2,264,827,815.56, resulting in a net cash flow increase[198]. - The net cash flow from financing activities was -CNY 303,965,400.79, worsening from -CNY 223,526,095.70, suggesting increased repayment obligations[199]. Market Position and Expansion - The company is the largest producer of pea protein in China and has received organic certifications from the EU and the US, enhancing its market position[32]. - The company’s sales channels for its noodle products have expanded to major cities across China, leveraging its brand advantage[28]. - The international market expansion includes regions such as Europe, the United States, Southeast Asia, and Australia[34]. - The company has over 1,000 distributors nationwide, establishing a comprehensive market layout[34]. Research and Development - The company has invested significantly in R&D, holding 12 national patents and participating in the formulation of several industry standards[32]. - The company has developed a patented technology to extract edible protein from wastewater, achieving a recovery rate of 95.5% and a purity of over 90% for pea protein[32]. - The company aims to develop a new health industry framework centered around pea protein, focusing on product innovation and market expansion[28]. Sustainability and Social Responsibility - The company has been recognized as a national demonstration base for circular economy education, highlighting its commitment to sustainable practices[31]. - The company emphasizes the importance of food safety and has established a strict quality control system to ensure product safety[7]. - The company actively engages in social responsibility, promoting healthy food and participating in local poverty alleviation and environmental initiatives[105]. - The company has implemented a closed-loop circular economy model for wastewater treatment, which includes processes such as extracting starch, producing noodles, and converting waste into organic fertilizer and biogas[109]. Governance and Compliance - The company has established a comprehensive performance evaluation system linking senior management's income to their performance and responsibilities[164]. - The company has a complete and independent governance structure, including a shareholders' meeting, board of directors, and supervisory board[154]. - The audit opinion issued by the auditing firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[172]. - The company has maintained a continuous audit service with Da Hua Accounting Firm for 4 years, with an audit fee of 400,000 RMB[85]. Employee Development - The company focuses on employee development through various training programs and a reasonable compensation incentive plan[107]. - The company has established a competitive salary system to attract and retain talent, ensuring that compensation is linked to performance and company growth[144]. - The company has a total of 674 employees, with 301 in production, 127 in sales, 108 in technical roles, 29 in finance, and 109 in administration[143].