Jiajia Food(SZ:002650)2023-04-27 16:00Financial Performance - The total revenue for 2022 was ¥1,686,107,669.16, representing a decrease of 3.91% compared to ¥1,754,683,993.13 in 2021[23]. - The net profit attributable to shareholders was -¥79,631,657.78, showing a slight improvement of 0.66% from -¥80,163,857.75 in the previous year[23]. - The net cash flow from operating activities significantly dropped by 91.47% to ¥22,955,849.14 from ¥268,996,883.87 in 2021[23]. - The total assets at the end of 2022 were ¥2,775,078,291.60, down 8.16% from ¥3,021,738,752.66 at the end of 2021[23]. - The net assets attributable to shareholders decreased by 13.02% to ¥2,304,717,961.01 from ¥2,649,602,837.14 in 2021[23]. - The basic and diluted earnings per share remained at -¥0.070, unchanged from the previous year[23]. - The weighted average return on equity was -3.16%, slightly lower than -3.08% in 2021[23]. - The company reported a significant decrease in revenue after deducting non-operating income, with the adjusted revenue at ¥1,648,287,831.54 for 2022[23]. Operational Challenges - The company experienced a decline in sales revenue due to economic downturn and the impact of new retail channels on traditional sales[37]. - The cost of raw materials remained high, leading to increased procurement and logistics pressures, which contributed to a decrease in overall gross margin[37]. - The stock option incentive plan implemented during the reporting period incurred expenses of CNY 21,489,400, further impacting profits[37]. - The company acknowledges uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[23]. Strategic Initiatives - In 2023, the company plans to accelerate market transformation and explore new markets and models, focusing on high-margin products and new retail business[38]. - The company aims to enhance operational capabilities through refined management and cost reduction strategies to improve market share and profitability[38]. - The company is committed to promoting health-oriented products, including low-salt and zero-additive series, to meet consumer demand[34]. - The company will continue to adapt its product structure and strengthen management to address rising costs and enhance overall operational efficiency[38]. Revenue Breakdown - The total operating revenue for the reporting period was CNY 1,686,107,669.16, a decrease of 3.91% compared to the previous year[37]. - The revenue from the distribution model was CNY 1.625 billion, down 5.54% year-on-year, while the direct sales model saw a significant increase of 79.29% to CNY 60.6 million[48]. - Soy sauce products generated revenue of CNY 871.3 million, with a gross margin of 26.31%, reflecting a 1.23% increase in revenue year-on-year[49]. - The revenue from the seasoning products segment was CNY 1.194 billion, accounting for 70.81% of total revenue, with a year-on-year increase of 0.20%[65]. - The revenue from edible plant oil decreased by 19.21% to CNY 444.87 million, representing 26.38% of total revenue[65]. Cost Management - Total operating costs decreased by 5.23% from 1,397,273,186.23 CNY in 2021 to 1,324,232,190.12 CNY in 2022[55]. - The main raw material cost for the seasoning category was 673,143,747.30 CNY, accounting for 76.16% of the total operating costs in 2022[55]. - The company’s manufacturing costs for the seasoning category increased by 8.07% year-on-year, from 104,617,462.52 CNY in 2021 to 113,064,300.30 CNY in 2022[55]. - The company’s raw material costs for edible vegetable oil decreased by 20.80% year-on-year, from 498,845,443.58 CNY in 2021 to 395,106,881.49 CNY in 2022[57]. Research and Development - The company’s R&D center is recognized as a provincial-level enterprise technology center, focusing on innovative fermentation processes to improve product quality[59]. - The company is focusing on developing new fermentation technologies for soy sauce, aiming to optimize production processes and reduce costs[83]. - R&D projects include the development of high-salt-tolerant lactic acid bacteria for soy sauce production, which is expected to fill a domestic market gap[83]. - The company’s R&D investment decreased by 12.02% to ¥23,647,418.92 in 2022 from ¥26,877,339.96 in 2021, representing 1.40% of total revenue[85]. Environmental Compliance - The company strictly adheres to environmental protection laws and standards, ensuring compliance with pollutant discharge permits and total emission control requirements[183]. - The company has implemented a comprehensive pollution control strategy, achieving a 100% pass rate for environmental acceptance inspections[186]. - The wastewater treatment compliance rate for 2022 was 100%, with all environmental facilities operating safely and effectively[198]. - The company received no administrative penalties related to environmental issues during the reporting period, maintaining a zero-complaint record for environmental governance[193]. Governance and Management - The company has established a fair and transparent performance evaluation system for employees, directors, and senior management, enhancing motivation[125]. - The company emphasizes investor relations management, with the chairman as the primary responsible person and the board secretary overseeing the management[126]. - The company has a clear governance structure with a mix of executive and independent directors ensuring balanced oversight[133]. - The company is committed to maintaining transparency and accountability in its operations and governance practices[132]. Employee Engagement - The total number of employees at the end of the reporting period is 1,534, with 592 in the parent company and 942 in major subsidiaries[153]. - The employee training rate is 100%, with a comprehensive annual training plan in place to enhance overall employee quality[155]. - The company has implemented a comprehensive salary structure optimization, including special incentives and performance assessment plans[154]. Investor Relations - The company engaged in multiple investor communications, including a conference call on May 17, 2022, to discuss the 2021 annual performance, addressing common investor concerns[116]. - The company is actively engaging with a diverse range of institutional investors, including securities firms and asset management companies, to discuss its strategic direction[116]. - The company has not reported any major undisclosed information during its investor interactions, indicating a focus on compliance and transparency[115].