道道全(002852) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 5,449,474,451.72, representing a 3.07% increase compared to CNY 5,287,320,473.49 in 2020[19] - The net profit attributable to shareholders was a loss of CNY 191,985,031.25, a decline of 150.96% from a loss of CNY 76,499,092.75 in the previous year[19] - The net cash flow from operating activities was negative CNY 87,332,100.00, a decrease of 254.67% compared to a positive cash flow of CNY 56,462,249.56 in 2020[19] - The total assets at the end of 2021 amounted to CNY 4,122,592,703.00, reflecting a 19.22% increase from CNY 3,457,936,124.56 at the end of 2020[19] - The net assets attributable to shareholders increased by 31.21% to CNY 2,393,801,775.70 from CNY 1,824,434,689.05 in 2020[19] - The basic earnings per share for 2021 was negative CNY 0.6861, a decline of 146.27% from negative CNY 0.2786 in 2020[19] - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, with a loss of CNY 152,941,985.88 compared to a profit of CNY 79,563,423.31 in 2020, marking a 292.23% decline[19] - The weighted average return on net assets was negative 10.77%, down from negative 4.07% in the previous year[19] Market Position and Strategy - The company is positioned as a leading brand in the domestic edible vegetable oil market, particularly in the rapeseed oil segment[32] - The company aims to expand from a regional brand to a national brand through strategic market development and product innovation[29] - The edible vegetable oil market is expected to focus on "branding," "small packaging," "premiumization," and "segmentation" in the future[29] - The company faced significant pressure on profitability due to rising raw material costs and declining consumer demand[29] - The company has implemented a sales model primarily based on distributors, with a focus on cash sales to improve liquidity[33] Production and Sales - The company's production volume decreased from 446,300 tons in 2020 to 358,500 tons in 2021, a decline of 19.66%[38] - The packaging oil segment accounted for 72.72% of total revenue, while the meal segment saw a significant increase of 42.20% year-on-year[42] - The company experienced a 244.92% increase in online direct sales revenue, reaching ¥211,711,278.33 in 2021 compared to ¥61,379,494.77 in 2020[33] - The gross margin for online direct sales decreased from 10.06% in 2020 to 3.47% in 2021, indicating rising costs[33] Investment and Financing - The company plans to invest in a 1 million tons/year edible oil processing project in Xingping City, completing its capacity layout in the Northwest region[39] - The total cash outflow from investment activities decreased by 42.82% to ¥874,045,531.92 compared to the previous year[56] - The net cash flow generated from financing activities increased by 13.21% to ¥768,746,847.42, with total cash inflow from financing activities rising by 250.85% to ¥2,672,062,244.09[56] - The company plans to use part of the idle raised funds, not exceeding RMB 16,000.00 million, for temporary working capital within 12 months[78] Environmental and Social Responsibility - The company has a wastewater treatment capacity of 400 tons per day, with actual daily discharge ranging from 80 to 150 tons, ensuring all wastewater meets national discharge standards[143] - The company invested over 4.7 million yuan in environmental protection measures over the past year, ensuring stable operation of environmental facilities[144] - The company emphasizes a "pollution prevention first" philosophy, continuously improving its environmental management system[149] - The company has established a comprehensive emergency response plan for environmental incidents, updated in November 2021[146] Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[93] - The company has established specialized committees, including a strategic development committee and an audit committee, to provide professional advice for decision-making[93] - The company emphasizes transparency in information disclosure, adhering to legal requirements and ensuring timely and accurate communication with investors[94] - The company operates independently in terms of business, personnel, assets, and finance, with no competition with its controlling shareholder[96] Employee Management - The total number of employees at the end of the reporting period was 964, with 322 in the parent company and 642 in major subsidiaries[125] - The company has established a training system to enhance employee skills and promote career development, including various training programs[128] - The company has a salary policy that aligns with market standards and aims to attract high-quality talent while ensuring employee welfare[127] Shareholder Relations - The company has a structured training program for talent development, combining external and internal training to enhance employee skills[153] - The company actively communicates with investors through various channels, ensuring equal access to information for all shareholders[151] - The company has implemented a performance bonus system linked to the achievement of annual operational targets[115] Risk Management - The company faces risks from raw material price fluctuations, with over 60% of its oilseed supply dependent on imports, which could significantly impact profitability[86] - The company has established internal controls and management procedures for its hedging activities to mitigate risks associated with price volatility in raw materials[87] Future Outlook - The company anticipates a tight supply-demand balance in the oilseed market for 2022, influenced by ongoing COVID-19 impacts and geopolitical factors, leading to uncertainty in raw material prices[84] - The company is focused on expanding its market presence and enhancing its product offerings through technological innovation[153]