盐津铺子(002847) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 1,958,851,487.13, representing a 39.99% increase compared to CNY 1,399,275,040.98 in 2019 [26]. - The net profit attributable to shareholders for 2020 was CNY 241,773,476.72, an increase of 88.83% from CNY 128,036,503.17 in the previous year [26]. - The net profit after deducting non-recurring gains and losses was CNY 189,352,685.65, up 86.96% from CNY 101,281,444.52 in 2019 [26]. - The net cash flow from operating activities was CNY 340,608,207.10, an increase of 84.63% compared to CNY 184,483,705.51 in 2019 [26]. - The basic earnings per share for 2020 were CNY 1.94, an increase of 88.35% from CNY 1.03 in 2019 [26]. - The total assets at the end of 2020 were CNY 2,021,302,011.12, a 21.75% increase from CNY 1,660,167,106.37 at the end of 2019 [26]. - The net assets attributable to shareholders at the end of 2020 were CNY 858,861,716.68, up 11.05% from CNY 773,366,223.96 at the end of 2019 [26]. - The weighted average return on equity for 2020 was 27.59%, an increase of 9.38% compared to 18.21% in 2019 [26]. - The company received government subsidies amounting to CNY 65.52 million in 2020, compared to CNY 37.15 million in 2019, marking an increase of approximately 76.5% [31]. - The company reported a net profit of CNY 241.77 million for 2020, with a cash dividend of CNY 127.12 million, representing 52.58% of the net profit [126]. Dividend Policy - The company plans to distribute a cash dividend of 10 RMB per 10 shares to all shareholders, based on a total of 129,360,000 shares, excluding repurchased shares [11]. - The total cash dividend, including other methods, amounts to CNY 277,112,611.52, which represents 100% of the distributable profit [131]. - The distributable profit available for shareholders is CNY 259,512,946.83, which includes the beginning retained earnings of CNY 168,414,318.25 [134]. Market Position and Strategy - The company is recognized as a leading brand in the domestic multi-category snack food market, with a higher gross margin compared to industry peers, which may attract increased competition [10]. - The company has established a strong brand presence, with its trademark recognized as a "Famous Chinese Trademark" since 2011, enhancing its market position [10]. - The company has expanded its product offerings to include a variety of snack foods, with a focus on innovation and market responsiveness, contributing to a higher market share [36]. - The company has established a multi-brand and multi-category strategy, aiming for full-channel and global expansion in the future [37]. - The company is actively exploring new retail channels such as community group buying and live streaming sales to strengthen its marketing network [38]. - The company has formed a multi-layered, high-efficiency marketing network through close cooperation with large chain supermarkets, facilitating market expansion [59]. Risk Management and Compliance - The company faces risks related to food safety control, which may lead to increased costs due to stricter regulations and potential impacts on production if policies change [8]. - The company acknowledges the potential impact of industry-wide food safety incidents on its business and the overall market [9]. - The company emphasizes the importance of maintaining product quality and brand reputation to mitigate risks from counterfeit products in the market [10]. - The company has implemented a food safety control system centered on "source control, self-production, and product traceability" to ensure quality [57]. - The company has a robust governance structure, with all board members present for the report's approval, ensuring accountability and transparency [7]. Research and Development - The company has a research and development team of 173 professionals, holding a total of 42 patents [62]. - The company invested ¥51.5 million in R&D in 2020, which is 2.63% of operating revenue, marking a 91.45% increase from 2019 [95]. - The "experimental factory" model allows for rapid product development and market response, with new products like duck wings and fish fillets launched recently [63]. - New product development included healthy snacks such as fish tofu and colorful preserved plums, enhancing the company's core competitiveness [75]. Social Responsibility and Community Engagement - The company actively engaged in social responsibility initiatives, donating over RMB 4 million in medical supplies and food during the COVID-19 pandemic [78]. - In 2020, the company donated a total of 719,000 yuan to educational institutions and impoverished students, including 100,000 yuan to establish scholarships for outstanding students [189]. - The company helped 106 registered impoverished individuals to escape poverty through its initiatives [190]. - The company has created numerous job opportunities in various regions, including Hunan, Guangxi, Jiangxi, and Henan, contributing to local economic development [188]. Environmental Commitment - The company emphasizes environmental protection and energy conservation in its production processes, adhering to relevant environmental management standards [186]. - Jiangxi Yanjinpuzi Food Co., Ltd. has built two wastewater treatment plants with designed capacities of 3000 m³/d and 1500 m³/d, ensuring compliance with the first-level wastewater discharge standards [194]. - The company has not experienced any environmental incidents or penalties since its establishment, demonstrating a strong commitment to environmental protection [198]. Corporate Governance - The third board of directors and supervisory board was successfully elected, ensuring compliance with regulatory standards and protecting investor interests [79]. - The company has committed to avoiding competition with its controlling shareholders and ensuring fair transactions with related parties, which is currently being fulfilled [141]. - The company has established measures to stabilize stock prices, including potential buybacks if certain conditions are met [137]. - The company has a commitment to report any legal responsibilities arising from non-compliance with these commitments within 30 days [137].