Jiajia Food(SZ:002650)2021-04-28 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,072,648,552.29, representing a 1.61% increase compared to ¥2,039,752,817.05 in 2019[16]. - The net profit attributable to shareholders for 2020 was ¥176,255,825.78, an increase of 8.47% from ¥162,490,290.28 in 2019[16]. - The net profit after deducting non-recurring gains and losses was ¥162,837,944.26, showing a significant increase of 90.64% compared to ¥85,415,217.99 in 2019[16]. - The net cash flow from operating activities reached ¥278,168,838.01, a remarkable increase of 480.99% from ¥47,878,549.69 in 2019[16]. - The total assets at the end of 2020 were ¥3,128,197,958.46, reflecting a 14.79% increase from ¥2,725,155,235.01 at the end of 2019[16]. - The net assets attributable to shareholders increased by 9.40% to ¥2,556,532,895.36 at the end of 2020, up from ¥2,336,837,291.08 in 2019[16]. - The basic earnings per share for 2020 were ¥0.15, a 7.14% increase from ¥0.14 in 2019[16]. - The weighted average return on equity was 7.32% for 2020, slightly up from 7.20% in 2019[16]. Revenue Breakdown - The seasoning segment generated ¥1,418,512,935.56, accounting for 68.44% of total revenue, with a slight increase of 0.03% year-on-year[52]. - The edible oil segment saw revenue of ¥646,750,060.02, up 5.46% from ¥613,280,902.20 in 2019, representing 31.20% of total revenue[52]. - Soy sauce products contributed ¥1,016,124,151.19, a decrease of 0.10% from the previous year, while the gross margin for this category was 34.94%[54]. - The company reported a total sales volume of 311,736.27 tons, down 3.36% from 322,563.51 tons in 2019[55]. - The gross profit margin for the seasoning segment improved to 34.10%, an increase of 0.91% compared to the previous year[54]. Investment and R&D - In 2020, the company invested CNY 30.26 million in R&D, accounting for 1.46% of its revenue, focusing on the development of low-salt soy sauce and other products[36]. - The company completed significant R&D projects, including the selection and application of key fermentation strains for low-salt soy sauce[69]. - Research and development expenses amounted to CNY 30.26 million, representing a 6.28% increase compared to the previous year[67]. - The company has applied for 8 new environmental technology patents related to its soy sauce production project[192]. Market Strategy and Expansion - The company plans to focus on expanding its market presence and enhancing product development in the coming year[56]. - The company aims to strengthen governance, risk control, and market expansion to enhance shareholder value and achieve better performance[98]. - The company plans to enhance its competitive edge in the international market through improved fermentation processes for soy sauce[69]. - The company aims to standardize and automate the production of high-quality soy sauce through the optimization of the fermentation process using high-purity strains[72]. Quality Control and Compliance - The company has implemented strict quality control measures, including ISO9001 and ISO22000 certifications, to mitigate food safety risks[100]. - The company established a raw material procurement decision committee to manage the risk of price fluctuations in key raw materials like soybeans and wheat[100]. - The company has implemented online product testing and traceability in production to prevent potential food safety incidents[100]. - The company has received a warning and a fine of 400,000 yuan from the China Securities Regulatory Commission for failing to disclose related party transactions and guarantees in a timely manner[145]. Environmental Responsibility - The company has been awarded the title of "Hunan Province Environmental Behavior Integrity Enterprise" for its commitment to environmental protection[175]. - The wastewater treatment station of the group has an investment of 18 million yuan and a designed treatment capacity of 1,200 tons per day, with an actual treatment volume of 245,000 tons in 2020, achieving an average COD discharge concentration of 220 mg/L and NH3-N concentration of 4-5 mg/L[183]. - The company has achieved a 100% execution rate for environmental impact assessments and a 100% acceptance rate for completion inspections of its projects[188]. - The company has implemented a low-nitrogen transformation for its boilers, resulting in NOX emissions averaging 22-27 mg/m3 after the upgrade[185]. Corporate Governance and Shareholder Relations - The company has maintained a clear and compliant cash dividend policy, ensuring the protection of minority shareholders' rights[105]. - The company has engaged in various investor relations activities to discuss its operational status and future development plans[101]. - The company has committed to not engaging in any competitive business activities that may conflict with its main operations during the commitment period[116]. - The company has resolved the issue of fund occupation by its actual controller, with a total of 54 million yuan returned by the controlling shareholder[136]. Regulatory Issues - The company faced an investigation by the China Securities Regulatory Commission for alleged violations related to information disclosure, resulting in a warning and a fine of ¥400,000[131]. - The company was publicly criticized by the Shenzhen Stock Exchange for violations related to guarantees and information disclosure[133]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[132]. - The company has been involved in multiple administrative penalties and warnings from regulatory bodies in 2020[132][133].