涪陵榨菜(002507) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥2,518,647,389.14, an increase of 10.82% compared to ¥2,272,746,598.51 in 2020[13]. - The net profit attributable to shareholders for 2021 was ¥741,958,457.29, a decrease of 4.52% from ¥777,105,782.58 in 2020[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥694,323,995.59, down 8.49% from ¥758,766,769.73 in 2020[13]. - The net cash flow from operating activities for 2021 was ¥745,482,455.96, a decline of 20.62% compared to ¥939,075,963.61 in 2020[13]. - The total assets at the end of 2021 were ¥7,748,704,934.69, representing a 95.20% increase from ¥3,969,611,914.85 at the end of 2020[14]. - The net assets attributable to shareholders at the end of 2021 were ¥7,167,050,880.66, up 110.09% from ¥3,411,459,905.45 at the end of 2020[14]. - The company's total revenue for 2021 reached CNY 2,518,647,389.14, representing a year-on-year increase of 10.82% compared to CNY 2,272,746,598.51 in 2020[43]. - The overall revenue for the company in 2021 was approximately CNY 2.52 billion, with a gross margin of 52.33%[28]. - The company's revenue from pickled vegetables was CNY 2,226,315,299.91, with a gross profit margin of 54.80%[45]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 3.5 yuan (including tax) for every 10 shares based on a total of 887,630,022 shares[3]. - The cash dividend per 10 shares for the annual distribution is set at RMB 3.50, amounting to a total of RMB 310,670,507.70, based on the total share capital as of December 31, 2021[144]. - The cash dividend policy complies with relevant laws and regulations, ensuring the protection of shareholders' interests, especially for minority shareholders[148]. Market Position and Strategy - The company has sold a total of 15 billion packages globally, indicating strong market demand[4]. - The company aims to focus on plant-based seasoning manufacturing and has developed a clear growth direction for its brand, emphasizing urban precision marketing and channel restructuring[20]. - The company maintains a leading position in the production and sales of pickled vegetables, with a strong market share for its "Wujiang" brand, which has high recognition and reputation[21]. - The company has implemented a strategy of "precise urban marketing" to reshape market structure amidst challenges from the pandemic and rising raw material costs[26]. - The company plans to continue expanding its product line through strategic acquisitions in complementary industries, aiming to solidify its position as a leader in the pickled vegetable sector[41]. Operational Challenges - The company faced challenges from rising raw material prices and increased competition, but it maintained its position as an industry leader through strategic initiatives[20]. - The cost of main raw materials, including green vegetable heads and semi-finished pickled vegetables, increased by approximately 80% and 42% respectively, leading to a 13% rise in overall business costs[32]. - The company recognizes the risk of raw material shortages and price fluctuations, particularly for key ingredients like pickled vegetables, and is developing strategies to mitigate these risks[84]. Corporate Governance - The company maintains a strong governance structure, ensuring compliance with regulatory requirements and enhancing operational transparency[93]. - The board of directors consists of 11 members, including 5 independent directors, complying with legal and regulatory requirements[94]. - The company has established specialized committees within the board to provide professional opinions and references for decision-making[94]. - The company has a dedicated investor relations management team that utilizes various communication channels to address investor inquiries promptly[96]. Environmental Responsibility - The company has established wastewater treatment facilities at all production sites to ensure compliance with environmental standards[159]. - The company has invested over 100 million yuan in developing MVR saltwater concentration and membrane filtration technology to enhance environmental protection facilities[169]. - The company has signed raw material purchase contracts with farmers, ensuring a protective price for the green cabbage heads to secure their income[170]. Research and Development - The company has established a national research center for pickled vegetable processing technology, enhancing its R&D capabilities and industry standards[38]. - R&D investment amounted to ¥25,048,459.58 in 2021, representing a 16.53% increase from ¥21,494,619.40 in 2020[58]. - The company is investing 50 million CNY in research and development for new technologies aimed at improving production efficiency[92]. Risk Management - The company has outlined potential risks in its future development plans, advising investors to be cautious[3]. - The company acknowledges risks related to market environment changes that could affect the implementation and effectiveness of investment projects[86]. - The company has implemented strategies to enhance raw material storage capacity and innovate procurement methods to mitigate risks associated with price volatility[85]. Employee Management - The company employed a total of 2,933 staff members at the end of the reporting period, including 1,348 in the parent company and 1,585 in major subsidiaries[127]. - The company has established a compensation management committee that implements a performance-based salary system, ensuring that total salary does not exceed the company's economic growth rate or labor productivity growth rate[133]. - The company has implemented a training program to enhance management skills and employee competencies, aligning with its strategic development goals[134].