金字火腿(002515) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥505,874,274.87, a decrease of 28.79% compared to 2020[26]. - The net profit attributable to shareholders for 2021 was ¥42,853,911.03, down 27.74% from the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥21,125,332.55, reflecting a significant decline of 78.86% year-over-year[26]. - The net cash flow from operating activities improved to ¥277,224,525.77, a 218.94% increase compared to 2020[26]. - The total assets at the end of 2021 were ¥1,396,600,892.32, down 13.63% from the previous year[27]. - The weighted average return on equity for 2021 was 3.22%, a decrease of 1.29% from 2020[27]. - The company reported a basic earnings per share of ¥0.05, down 16.67% from ¥0.06 in 2020[26]. - The company experienced a net loss in the third and fourth quarters, with net profits of -¥7,855,309.88 and -¥13,945,246.53 respectively[32]. - The company achieved a total revenue of CNY 505.87 million in 2021, a decrease of 28.79% compared to the previous year, primarily due to a decline in pork prices[56]. - The company reported a net profit of 19,446,282.69 CNY for the year, with total assets amounting to 833,705,180.12 CNY and net assets of 680,153,348.16 CNY[103]. Shareholder and Governance Changes - The first major shareholder, Anji Bama, transferred 198,625,280 shares (20.30% of total shares) to Ren Guilong, making him the new controlling shareholder[24]. - The company has not reported any changes in its main business operations since its listing[24]. - The company experienced a change in its controlling shareholder, prompting a governance structure update[128]. - The company appointed a new president, Shi Yanjun, on December 16, 2021, following a board restructuring[130]. - The company’s independent directors, Fu Jianzheng and Lu Yifeng, completed their terms and left the board on December 16, 2021[129]. - The company’s financial director, Wu Yuexiao, was appointed as vice president on December 16, 2021[130]. - The company’s management team includes several new appointments aimed at enhancing operational efficiency[130]. - The company operates independently from its controlling shareholders in terms of business, assets, personnel, and finance[121]. - The company has established a complete and independent organizational structure, ensuring compliance with relevant laws and regulations[121]. Risk Management and Compliance - The company faces risks from pork price fluctuations, which directly impact raw material procurement costs due to various factors such as supply and demand[5]. - The company has established a dedicated internal control system for futures hedging, focusing on risk management and compliance with relevant laws and regulations[97]. - The company has not engaged in speculative trading but has focused on hedging against commodity price risks through pig futures[97]. - The company has implemented strict authorization and job segregation mechanisms to improve the overall quality of personnel involved in futures trading[97]. - The company has disclosed that its derivative investments are limited to domestic futures exchanges for pig futures[97]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[192]. - The company has not engaged in any violations regarding external guarantees during the reporting period[193]. - The company has maintained compliance with all commitments made during its initial public offering and refinancing processes[185]. Product Development and Market Strategy - The company is focusing on expanding its personalized custom brand meat business to enhance its competitive advantage and profitability[42]. - The company has a strong focus on developing plant-based meat products, which are expected to have a broad market prospect due to rising health and environmental awareness[44]. - The company aims to develop various ham products, including Chinese and European fermented hams, to boost sales revenue[70]. - The company is actively pursuing the development of plant-based meat products to meet the growing consumer demand for healthy and environmentally friendly options[107]. - The company is positioned to benefit from the increasing demand for convenient and ready-to-eat meat products as consumer lifestyles evolve[106]. - The company plans to enhance brand value through online marketing strategies, including live streaming and community e-commerce, to establish itself as a leading internet brand in the meat industry[108]. - The company is expanding its market presence, targeting a 30% increase in distribution channels across major cities in China[134]. - New product development includes the launch of a premium ham line, expected to contribute an additional 200 million RMB in revenue[134]. Inventory and Production Management - The company has a significant proportion of inventory in its current assets, which poses liquidity risks due to the long production cycle of its products[8]. - The production cycle for the company's ham products exceeds 10 months, with some products requiring over 36 months of aging to achieve optimal flavor and quality[8]. - The company maintains a significant proportion of inventory in current assets, which poses liquidity risks due to the long production cycle[113]. - The company’s production is characterized by mechanization, automation, and intelligence, enhancing production efficiency and ensuring food safety[52]. - The company has a large cold storage capacity of 60,000 tons, allowing it to manage raw material procurement effectively and mitigate the impact of pork price fluctuations[106]. Sales and Marketing Performance - Online sales increased by 37.74% year-on-year, reaching 14,872.45 million yuan, while total revenue for the reporting period was 49,063.87 million yuan, an 18.83% increase[50]. - The company added 590 new customers during the reporting period, a growth rate of 67.82%, with a significant increase in the East China region by 87.32%[50]. - The company’s gross profit margin for the main business was affected by fluctuations in raw material prices, particularly pork[46]. - The company’s ham sales volume increased to 1,697,786 kg in 2021, a year-on-year growth of 41.63% compared to 1,198,723 kg in 2020[69]. - The company’s ham and traditional meat products saw a revenue increase of 13.01%, indicating growth despite challenges in the brand meat segment[57]. Employee and Management Structure - The total number of employees at the end of the reporting period was 491, with 477 in major subsidiaries[157]. - The employee composition includes 244 production staff, 107 sales personnel, 91 technical staff, 26 financial staff, and 23 administrative staff[159]. - The company has conducted training needs assessments and developed training plans for the upcoming year[158]. - The company emphasizes performance-based remuneration linked to operational results and individual performance assessments[140]. - The company’s management team includes experienced professionals with extensive backgrounds in the food industry and related sectors[135]. Corporate Social Responsibility and Environmental Compliance - The company and its subsidiaries are not classified as key polluting units and have not faced any administrative penalties for environmental issues during the reporting period[178]. - The company ensures compliance with labor laws and maintains harmonious labor relations, providing employees with necessary benefits and training[179]. - The company has not engaged in poverty alleviation or rural revitalization efforts during the reporting period[180]. Audit and Internal Control - The company operates under the supervision of Tianjian Accounting Firm, ensuring compliance and accuracy in financial reporting[25]. - The internal control self-assessment report was disclosed on March 16, 2022[171]. - There were no significant or important internal control deficiencies identified in the financial reports for the reporting period[172]. - The company has established a complete and reasonable corporate governance structure and internal control system, but recognizes the need for ongoing improvements[173].