LONGDA(SZ:002726)2022-04-29 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[21] - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[21] - The company's operating revenue for 2021 was ¥19,509,959,768.79, a decrease of 19.05% compared to ¥24,101,638,774.23 in 2020[29] - The net profit attributable to shareholders for 2021 was ¥-658,573,721.79, representing a significant decline of 172.70% from the previous year's profit of ¥905,816,886.07[29] - The net cash flow from operating activities was ¥-87,677,769.49 in 2021, a decrease of 106.62% compared to ¥1,325,020,082.82 in 2020[29] - The basic earnings per share for 2021 was ¥-0.64, down 170.33% from ¥0.91 in 2020[32] - The diluted earnings per share for 2021 was ¥-0.57, reflecting a decline of 170.37% from ¥0.81 in 2020[32] - The total assets at the end of 2021 were ¥8,233,177,121.66, a decrease of 3.72% from ¥8,551,436,933.53 at the end of 2020[32] - The net assets attributable to shareholders at the end of 2021 were ¥3,234,847,472.77, down 4.46% from ¥3,385,987,457.83 at the end of 2020[32] Market Expansion and Strategy - The company plans to expand its market presence by increasing its distribution channels by 20% in 2022[21] - Future guidance estimates a revenue growth of 12% for 2022, with a target revenue of RMB 1.34 billion[21] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[21] - The company aims to reduce production costs by 5% through operational efficiencies and technology upgrades in 2022[21] - The company is focusing on expanding its market presence in the prepared food sector, which is expected to continue growing due to rising consumer demand[44] - The company plans to strengthen its national marketing network and increase its market share in the pre-prepared food sector by establishing model markets in key cities[122] Research and Development - The company has invested RMB 50 million in new product development, focusing on innovative food processing technologies[21] - R&D expenses increased by 100.70% year-on-year, with over 20,000 tons of new products launched and more than 100 products in reserve[49] - The company established two new R&D centers in Shanghai and Sichuan, enhancing its food R&D system[47] - The company has built three major R&D centers in Shanghai, Sichuan, and Shandong to enhance local market responsiveness and product development[58] - The company launched over 20,000 tons of new products in 2021, with more than 100 products in reserve, indicating strong market responsiveness[86] Production and Capacity - The company's slaughter capacity reached 11 million heads per year, with an actual slaughter volume of 6.411 million heads, representing a year-on-year increase of 57.7%[50] - The company plans to increase its slaughter capacity by 4 million heads per year, bringing total capacity to 15 million heads per year after new facilities are operational[50] - The company's food production capacity reached 155,000 tons per year, with ongoing projects expected to add another 175,000 tons per year[49] - The company’s breeding business achieved a market supply of 398,900 heads, a year-on-year increase of 25.24%[51] Sales and Distribution - User data indicates a growth in customer base by 25%, reaching a total of 500,000 active users by the end of 2021[21] - The number of distributors increased by 31.34% to 8,850, with significant growth in regions such as Southwest (99.16%) and South China (201.35%)[51] - The company’s online sales through platforms like JD.com saw a 1,800% increase year-on-year, ranking in the top five for ten consecutive months[51] - The company’s sales revenue from the top five distributors was approximately 90 million yuan, accounting for 0.46% of total revenue[51] Governance and Management - The average age of the company's management team is 39.12 years, with an average tenure of 11.6 years, indicating strong loyalty and industry experience[61] - The company has a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[132] - The company has committed to maintaining its independence in operations and management, avoiding any potential conflicts with the controlling shareholder[138] - The company’s governance practices contributed positively to its stable and healthy development[172] Employee and Compensation - The total number of employees at the end of the reporting period was 6,766, with 2,989 in the parent company and 3,777 in major subsidiaries[178] - The company implemented a performance-based compensation system, enhancing employee motivation and retention[182] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.9679 million[161] - The company has established a remuneration and assessment committee to propose remuneration for senior management[161] Risks and Challenges - The company faces risks including animal disease outbreaks, food safety concerns, and market expansion challenges that could impact its operations[123] - The company is actively managing its investment risks associated with the expansion into the pig farming sector in Shandong and Sichuan[141] Investment and Financing - The company raised a total of 157,040,000 CNY through financing activities, with 48,560,210 CNY already utilized[101] - The total cash inflow from financing activities was 3,754,732,769.55 CNY, an increase of 3.84% compared to the previous year[91] - The total cash outflow from financing activities was 2,893,363,751.52 CNY, an increase of 10.22% compared to the previous year[91] Awards and Recognition - The company has received multiple awards, including "Top 500 Private Enterprises in China" and "Most Valuable Brand in the Meat Industry" in 2021, enhancing its brand recognition[60]