金新农(002548) - 2022 Q4 - 年度财报

Animal Health and Biosecurity - The company reported a significant risk of animal diseases affecting pig farming, which could lead to increased costs and reduced production, impacting overall performance [4] - The company has implemented strict biosecurity measures to mitigate risks associated with diseases like African swine fever, focusing on comprehensive control over procurement, feed processing, and personnel management [5] - The company is committed to strengthening disease prevention measures, particularly against African swine fever, to ensure the stability of production [141] Financial Performance - The company's operating revenue for 2022 was CNY 3,973,936,151.86, a decrease of 18.35% compared to CNY 4,867,040,473.69 in 2021 [29] - The net profit attributable to shareholders for 2022 was CNY 19,836,844.77, a significant turnaround from a net loss of CNY 989,098,868.81 in 2021, representing a 102.00% increase [29] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -75,299,870.19, an improvement of 86.10% from CNY -538,455,146.76 in 2021 [29] - The cash flow from operating activities for 2022 was CNY 132,594,392.17, an increase of 14.32% from CNY 113,477,156.77 in 2021 [29] - The total assets at the end of 2022 were CNY 6,978,411,394.20, reflecting a 1.18% increase from CNY 5,854,217,111.26 at the end of 2021 [29] - The net assets attributable to shareholders at the end of 2022 were CNY 2,130,512,183.20, a 16.91% increase from CNY 1,650,904,804.85 at the end of 2021 [29] - The company reported a basic earnings per share of CNY 0.03 for 2022, compared to a loss of CNY 1.60 in 2021, marking a 102.03% improvement [29] Market and Operational Strategy - The company plans to continue its focus on the pig feed production and sales, as well as pig farming, following the divestiture of certain business segments in 2021 and early 2022 [27] - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives [23] - The company aims to optimize feed formulations and improve production efficiency to lower costs and enhance profitability amid market challenges [7] - The company is leveraging futures contracts to hedge against price fluctuations in pig farming, aiming to stabilize its financial performance [7] - The company is actively monitoring raw material prices, particularly corn and soybean meal, to mitigate the impact of price volatility on its feed and farming operations [8] Research and Development - The company is focusing on developing antibiotic-free pig farming technology, aiming to enhance product quality and competitiveness [89] - The company has completed several R&D projects aimed at improving feed formulations and reducing costs, which are expected to enhance growth performance and health levels in livestock [89] - The company plans to apply for relevant intellectual property rights to protect its R&D achievements and promote large-scale application of the results [89] - The project aims to replace part of corn with sorghum and barley in pig feed, which is expected to improve growth rate by 3%-6% and reduce feed costs by 20-40 CNY per ton [91] - The fermentation concentrate feed is projected to enhance growth rate of nursery pigs by 6%-8% and increase survival rate by 4%-6% [91] Governance and Management - The company continuously improved its governance structure and enhanced governance practices, ensuring timely and fair information disclosure to investors [155] - The company revised its articles of association and governance rules in accordance with the latest legal and regulatory requirements, improving its governance system [155] - The governance structure of the company is sound, with clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management [155] - The company held 12 board meetings during the reporting period, reviewing 60 items [157] - The company is committed to maintaining a strong governance structure with independent directors and a diverse management team [172] Employee and Training Initiatives - The total number of employees at the end of the reporting period was 2,554, with 1,566 in production, 250 in sales, and 222 in technical roles [197] - The company implemented a systematic and standardized employee training management system to enhance cultural quality, management level, and professional skills [199] - In 2022, the company conducted hundreds of specialized training sessions across various business sectors, focusing on breeding technology, feed technology, disease prevention, sales skills, quality management, raw material management, safety production, and system promotion [200] - Employee training assessment indicators are crucial for employee re-training, job rotation, and promotion considerations [199] Investment and Financial Strategy - The company completed a non-public stock issuance, raising a net amount of 689 million yuan, and reduced its asset-liability ratio to 68.74%, down 5.29 percentage points from mid-year [70] - The company achieved a hedging profit of 15.0783 million yuan during the reporting period, with total profit impact of 14.9470 million yuan after deducting transaction fees of 0.1313 million yuan [118] - The total committed investment for the Guangdong Tianzhong standardized pig breeding project (Phase I) is CNY 33.446 billion, with CNY 6.766 billion invested so far, representing 20.23% of the total commitment [127] - The company has not engaged in any securities investments during the reporting period [115] - The company has utilized derivative investments for hedging purposes, although specific amounts are not disclosed [116] Sales and Revenue - The feed business contributed 57.96% of total revenue, while the pig farming business accounted for 37.57% [52] - The company sold 1.26 million pigs, representing a year-on-year increase of 17.54% [52] - Feed sales revenue reached 2,303.40 million yuan with a volume of 582,800 tons, while pig sales revenue was 1,493.06 million yuan with a volume of 1,256,400 heads [63] - The company reported a total sales volume of 58.28 million tons for feed processing, down 5.98% from 61.99 million tons in 2021 [76] - The livestock breeding segment's revenue fell by 26.45% to ¥1,493,064,660.96, representing 37.57% of total revenue [72]