道道全(002852) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,199,843,627.09, representing a 51.19% increase compared to CNY 2,116,421,382.99 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of CNY 36,002,098.44, a decrease of 128.78% from a profit of CNY 125,110,371.53 in the previous year[17]. - The net cash flow from operating activities was a negative CNY 267,399,108.07, worsening by 637.30% compared to a negative CNY 36,267,165.81 in the same period last year[17]. - The basic earnings per share were -CNY 0.10, down 121.74% from CNY 0.46 in the previous year[17]. - The total profit for the period was CNY -60.24 million, a decline of 148.64% year-on-year[26]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 126,878,517.93 compared to a profit of CNY 72,404,402.65 in the previous year, marking a decrease of 275.24%[17]. - The weighted average return on net assets was -1.52%, down from 6.65% in the previous year, indicating a significant decline in profitability[17]. - The gross profit margin for the first half of 2022 was 12.23%, down from 14.81% in the same period of 2021[3]. - The company reported a net loss of CNY 36,556,746.46 for the first half of 2022, compared to a net profit of CNY 126,963,376.36 in the first half of 2021[160]. - The gross profit margin decreased significantly, with gross profit for the first half of 2022 at CNY -147,692,757.22, compared to CNY 169,533,624.83 in the previous year[160]. Revenue and Sales - The company achieved operating revenue of CNY 3,199.84 million, an increase of 51.19% compared to the same period last year[26]. - Total revenue for the first half of 2022 reached CNY 3,199,843,627.09, representing a 51.19% increase compared to CNY 2,116,421,382.99 in the same period of 2021[46]. - Total revenue from sales of goods and services reached CNY 3,432,852,818.28, up 58.8% from CNY 2,159,919,737.59 in the first half of 2021[166]. - The company’s production volume for food processing increased by 39.25% to 195,071.43 tons in the first half of 2022[38]. - The total revenue for the food processing segment reached CNY 3,190,029,492.7, accounting for 99.69% of total revenue, with a year-on-year increase of 51.32%[49]. Costs and Expenses - The cost of sales increased by 64.39% to CNY 3,200,482,680.08, primarily due to rising raw material prices and increased sales volume[46]. - The total operating costs for the food processing segment increased by 64.59% year-on-year, amounting to CNY 3,194,868,43[49]. - The company reported a 93.02% increase in marketing expenses, totaling CNY 42,846,506.93, primarily due to increased advertising investments[51]. - The company experienced a 44.93% rise in transportation and transfer fees, totaling CNY 703,691.81, attributed to increased storage costs[51]. - The company's total expenses increased by 50.39% year-on-year, reaching CNY 68,080,871.78[51]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,111,680,587.34, a slight decrease of 0.26% from CNY 4,122,592,703.00 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 2.29% to CNY 2,338,889,936.15 from CNY 2,393,801,775.70 at the end of the previous year[17]. - The company's cash and cash equivalents decreased by 7.65%, amounting to CNY 97,067,684.1, compared to CNY 412,634,448 at the end of the previous year[55]. - The total liabilities increased from ¥1,672,767,505.01 to ¥1,717,321,876.92, which is an increase of about 3%[154]. - The company's total liabilities increased to CNY 920,201,408.58, compared to CNY 751,725,040.40 in the previous year, reflecting a growth of 22.4%[160]. Market and Product Development - The company’s main product is packaged edible vegetable oil, primarily rapeseed oil, which has gained significant market recognition[26]. - The company plans to expand its market presence in East China, South China, and Northwest China while developing North and Northeast markets[26]. - New product launches include high oleic rapeseed oil and tea oil to enhance product diversity and competitiveness[31]. - The company is positioned as a leading brand in the domestic packaged edible vegetable oil market, particularly in the rapeseed oil category[29]. - Research and development efforts are focused on new edible oil products to meet changing consumer preferences[183]. Risk Management - The company faces challenges from raw material price volatility due to geopolitical factors and global inflation, impacting profit margins[26]. - The company relies heavily on imported raw materials, with over 60% dependence, making it vulnerable to changes in national industrial policies affecting the edible oil sector[82]. - The company utilizes commodity futures for hedging against price fluctuations, but this strategy carries inherent risks related to market conditions and internal controls[83]. - The company has established internal control measures for futures hedging to align with actual production needs and mitigate risks[84]. - The company aims to mitigate price volatility risks through commodity futures hedging tools to ensure operational stability and sustainability[64]. Environmental and Social Responsibility - The company invested over 1.8 million yuan in environmental protection and waste management in the first half of the year, ensuring all emission indicators meet national standards[94]. - The wastewater treatment facility has a designed capacity of 400 tons per day, with actual daily discharge ranging from 80 to 180 tons, and a total of 15,061 tons of wastewater treated in the first half of the year, all meeting standards[92]. - The company has implemented measures to reduce carbon emissions, adhering to an "environmental protection first" development philosophy[98]. - The company actively engages in social responsibility, supporting education and contributing to public welfare initiatives[99]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been filed and is in compliance with legal requirements[96]. Shareholder and Governance - The company emphasizes the protection of shareholder rights and has established a comprehensive internal control system to ensure all shareholders, especially minority shareholders, can exercise their rights equally[100]. - The company has a profit distribution policy ensuring that at least 20% of the distributable profits will be distributed in cash to shareholders annually from 2020 to 2022[101]. - The company has not reported any significant litigation or arbitration matters during the reporting period, ensuring a stable legal environment for operations[112]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[107]. - The company has not reported any major related party transactions during the reporting period, indicating a focus on operational integrity[113]. Future Outlook - The management provided a positive outlook for the second half of 2022, expecting continued revenue growth and profitability[176]. - The company plans to expand its market presence and invest in new product development to drive future growth[176]. - The company has plans for future expansion and product development, although specific details were not provided in the financial summary[172]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market share[183]. - The company has set a performance guidance for the second half of 2022, expecting a revenue growth of 15% compared to the first half[182].