加加食品(002650) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,754,683,993.13, a decrease of 15.34% compared to ¥2,072,648,552.29 in 2020[19] - The net profit attributable to shareholders was a loss of ¥80,163,857.75, representing a decline of 145.48% from a profit of ¥176,255,825.78 in the previous year[19] - The net profit after deducting non-recurring gains and losses was a loss of ¥96,480,855.72, down 159.25% from ¥162,837,944.26 in 2020[19] - The net cash flow from operating activities was ¥268,996,883.87, a decrease of 3.30% compared to ¥278,168,838.01 in 2020[19] - The total assets at the end of 2021 were ¥3,021,738,752.66, down 3.40% from ¥3,128,197,958.46 at the end of 2020[19] - The net assets attributable to shareholders increased by 3.64% to ¥2,649,602,837.14 from ¥2,556,532,895.36 in 2020[19] - The basic earnings per share for 2021 was -¥0.07, a decrease of 146.67% from ¥0.15 in 2020[19] - The weighted average return on net assets was -3.08%, down 10.40% from 7.32% in the previous year[19] Revenue and Sales Trends - In Q1 2021, the company reported revenue of ¥509.66 million, which decreased to ¥332.33 million in Q2, and increased to ¥559.00 million in Q4, showing a significant fluctuation throughout the year[24] - The net profit attributable to shareholders was ¥43.54 million in Q1, but turned negative in subsequent quarters, reaching -¥82.02 million in Q4, indicating a challenging financial year[24] - The company's total revenue for the year was ¥1.75 billion, a decline of 15.34% compared to the previous year, with a net profit drop of 145.48%[34] - Revenue from the distribution model was approximately CNY 1.72 billion, a decline of 16.20% year-on-year, with a gross margin of 20.14%[44] - Direct sales revenue increased by 77.50% year-on-year, reaching approximately CNY 33.81 million, with a gross margin of 15.53%[44] - Soy sauce product revenue was approximately CNY 860.73 million, a decrease of 15.29% year-on-year, with a gross margin of 27.18%[46] Cost and Expense Management - The company faced increased procurement costs due to rising raw material prices, which pressured profit margins and led to a decrease in overall gross margin[35] - Sales expenses increased as the company invested more in promotions and expanded its market presence to stabilize market share[35] - The company implemented impairment provisions for inventory and receivables, resulting in a more than 100% increase in impairment provisions compared to the previous year[35] - The total operating costs for 2021 amounted to CNY 1,397,273,186.23, a decrease of 4.50% from CNY 1,463,059,225.34 in 2020[75] - The raw material costs for the seasoning segment were CNY 666,101,930.02, accounting for 76.98% of the total operating costs, down from 78.93% in 2020[75] Research and Development - The company invested CNY 26.877 million in R&D, a decrease of 11.19% from CNY 30.264 million in the previous year[65] - The total R&D investment for 2021 was approximately ¥26.88 million, a decrease of 11.19% compared to ¥30.26 million in 2020[91] - The company is currently developing key technologies for high-conversion raw materials in soy sauce production, aiming to optimize production processes and reduce costs[90] - The company plans to develop high-quality low-salt soy sauce to meet market demand and improve product influence[90] Market Strategy and Outlook - The company plans to implement a series of measures to focus on core business and optimize product structure to improve market share and profitability[36] - The company aims to enhance its market presence in the mid-to-high-end edible oil market with its "Pan Zhong Can" brand[41] - The condiment industry remains essential for daily consumption, with stable demand despite external challenges such as the pandemic and rising material costs[30] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[126] - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on health-oriented food products[126] Corporate Governance and Compliance - The company adheres to relevant laws and regulations, ensuring accurate and complete information disclosure to protect shareholder rights, especially for minority shareholders[136] - The board of directors consists of 5 members, including 2 independent directors with expertise in finance and law, ensuring compliance with legal requirements[137] - The company has established a transparent performance evaluation system to motivate employees and improve the performance of directors and senior management[138] - The company has implemented a strict information disclosure management system, ensuring timely and fair communication with investors[139] - The company has established a complete and compliant corporate governance structure and internal control system, with ongoing improvements planned[193] Environmental Sustainability - The company invested CNY 18 million in the wastewater treatment station with a design capacity of 1,200 tons per day, processing a total of 221,000 tons of wastewater in 2021[198] - The average COD discharge concentration after treatment was 233 mg/L, and NH3-N concentration was 1.06 mg/L, meeting the GB8978-1996 Class III discharge standards[198] - The company operates a comprehensive wastewater treatment process including multiple stages such as anaerobic and aerobic treatment, ensuring effective pollutant removal[198] - The company’s total wastewater treatment capacity across its facilities is 3,000 tons per day, ensuring compliance with environmental standards[198] - The company has implemented rainwater and sewage diversion systems across its facilities to enhance wastewater management[198]