Jialong(SZ:002495)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was ¥207,599,557.31, a decrease of 25.80% compared to ¥279,795,197.05 in 2021[20]. - The net profit attributable to shareholders was a loss of ¥54,769,783.86, representing a decline of 305.01% from a profit of ¥26,716,169.94 in the previous year[20]. - The net cash flow from operating activities was ¥4,797,763.80, down 94.60% from ¥88,838,661.47 in 2021[20]. - The basic earnings per share were -¥0.0585, a decrease of 304.55% compared to ¥0.0286 in 2021[20]. - Total assets at the end of 2022 were ¥1,227,597,620.86, a decrease of 5.73% from ¥1,302,208,755.06 at the end of 2021[20]. - The net assets attributable to shareholders were ¥1,163,656,918.37, down 4.50% from ¥1,218,426,702.23 in 2021[20]. - The total profit for the year was CNY -62.31 million, down 285.90% year-on-year, while the net profit attributable to shareholders was CNY -54.77 million, a decline of 305.01%[61]. - The company reported a significant decline in both net profit and cash flow, indicating challenges in its operational performance[20]. Revenue and Sales - In Q1 2022, the company reported revenue of ¥55,132,876.54, while Q2 revenue decreased to ¥46,641,991.46, followed by a significant increase to ¥66,332,629.77 in Q3, and a drop to ¥39,492,059.54 in Q4[25]. - The company's main products, chicken powder and chicken essence, accounted for 46.52% and 22.42% of total revenue, highlighting their importance to overall sales[35]. - Revenue from chicken powder decreased by 35.49% year-on-year, with a gross margin of 29.97%[43]. - Chicken essence revenue fell by 26.02% year-on-year, with a gross margin of 27.51%[43]. - Total revenue from other products decreased by 5.46% year-on-year, with a gross margin of 22.02%[43]. - The sales volume of seasoning products decreased by 26.86% to 16,192 tons, and production volume fell by 22.89% to 14,405 tons[69]. - The company’s chicken powder sales dropped by 35.49% to CNY 96.59 million, while chicken essence sales decreased by 26.02% to CNY 46.54 million[65]. Cost and Expenses - The total cost of goods sold decreased by 18.26% from 179,686,593.29 CNY in 2021 to 146,881,640.34 CNY in 2022[73]. - The raw material costs for chicken powder decreased by 25.17% from 78,804,219.27 CNY in 2021 to 58,968,612.94 CNY in 2022[74]. - The sales expenses dropped significantly by 44.50% from 12,733,922.80 CNY in 2021 to 7,067,414.27 CNY in 2022, mainly due to reduced marketing investments[78]. - The manufacturing costs for chicken essence decreased by 30.86% from 10,150,959.39 CNY in 2021 to 7,017,986.29 CNY in 2022[74]. - The company experienced a significant reduction in operating expenses, with a notable decrease in advertising and promotional costs by 54.45%[79]. Research and Development - The company increased its R&D investment, upgrading production processes for chicken powder and chicken essence, and developed new products such as tomato beef sauce and black pepper sauce[62]. - R&D investment increased by 6.88% to ¥10,461,146.75 in 2022, representing 5.04% of operating revenue, up from 3.50% in 2021[83]. - The number of R&D personnel decreased by 3.57% to 27 in 2022, with a slight increase in the proportion of R&D personnel to 12.05%[83]. - The company plans to increase R&D investment to improve technology and product offerings, aiming to enhance market competitiveness and adapt to customer needs[116]. Operational Strategy - The company maintains a dual production model, combining self-production and commissioned production, to optimize operational efficiency and cost management[37]. - The company plans to enhance brand building and implement differentiated marketing strategies to improve brand value and market presence[104]. - The company will focus on cost control and financial management to ensure efficient accounting practices and expenditure management[105]. - The company intends to leverage capital market platforms to expand its business and strengthen its operational scale[104]. - The company aims to enhance production efficiency and reduce costs by upgrading production technology and equipment, while also expanding its product categories to include prepared dishes[106]. Risk Management - The company faces significant risks including raw material price fluctuations, market competition, and high customer concentration, with the top five customers accounting for a large portion of revenue[107][108][109]. - The company has established a quality control system to mitigate risks related to food safety and product quality, ensuring compliance with regulatory standards[117]. - The company will strengthen internal governance and improve asset management to reduce asset impairment risks, focusing on efficient cash flow management[118]. - The company is committed to adapting to changes in national laws and regulations to minimize potential negative impacts on operations and financial performance[115][118]. Governance and Compliance - The company maintains complete independence in business operations, personnel, assets, institutions, and finances from its controlling shareholder, ensuring a fully autonomous business system[130]. - The board of directors consists of 5 members, including 2 independent directors, complying with legal and regulatory requirements[125]. - The company has established specialized committees within the board, enhancing operational efficiency and governance[126]. - The company has implemented a robust information disclosure system, ensuring timely and accurate communication with investors[129]. - The company has established a governance structure with a clear division of responsibilities among the shareholders' meeting, board of directors, and supervisory board[167]. Employee Management - The total number of employees at the end of the reporting period was 224, with 221 in the parent company and 3 in major subsidiaries[158]. - The company has established a competitive and fair compensation system, regularly adjusting employee salaries to enhance motivation and satisfaction[160]. - The company emphasizes training management to improve core competitiveness and ensure effective training processes[161]. - The company has a structured performance evaluation system that influences promotions, training, and salary adjustments[160]. Legal Matters - The company faced a lawsuit involving Jiangsu Jialong with a claimed economic loss of 60,000 yuan and a joint liability for compensation[199]. - The company has a pending case against Jiangsu Jialong and others with a claimed amount of 840,400 yuan, which is currently in court and has not yet been adjudicated[199]. - Another lawsuit involves Jiangsu Jialong and Shanghai Jialong, with a claimed amount of 530,400 yuan, which is also pending judgment[199]. - The company has successfully concluded a case against Anyang Aochu Food Co., with a total compensation amount of 300,000 yuan awarded for economic losses and reasonable expenses[199]. - The company is actively pursuing legal actions to protect its trademark rights, including a case against Nanjing Jiangning District Yao Fa Aquatic Products Co. for infringement of its registered trademarks[199].