新农股份(002942) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,162,570,966.46, a decrease of 2.61% compared to 2020[19]. - The net profit attributable to shareholders for 2021 was ¥137,873,663.39, down 21.32% from the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥118,628,109.74, a decrease of 20.18% year-on-year[19]. - The net cash flow from operating activities increased by 50.10% to ¥211,552,468.06 in 2021[19]. - The total assets at the end of 2021 were ¥1,552,881,288.43, reflecting a growth of 15.02% compared to the end of 2020[19]. - The company reported a weighted average return on equity of 12.34%, down 5.32 percentage points from 2020[19]. - The company's formulation business generated revenue of 423 million yuan in 2021, representing a year-on-year growth of 18.84%[63]. - Total revenue for 2021 was approximately ¥1.16 billion, a decrease of 2.61% compared to ¥1.19 billion in 2020[70]. - The pesticide industry accounted for 96.29% of total revenue, with a revenue of approximately ¥1.12 billion, down 4.79% year-over-year[70]. Shareholder Information - The company reported a total share capital of 156,000,000 shares, with a cash dividend of 5.00 RMB per 10 shares (including tax) to be distributed to shareholders[4]. - The company has a total of 153,209,930 shares available for dividend distribution after deducting repurchased shares[4]. - The total cash dividend for 2021, including other methods such as share repurchase, reached 117,065,093 CNY, representing 100% of the distributable profit of 540,037,520.47 CNY[181]. - The cash dividend distribution plan for 2021 is subject to approval at the annual general meeting, ensuring transparency and shareholder engagement[184]. - The company has maintained a clear profit distribution policy to protect shareholder interests, with no changes made during the reporting period[179]. Risk Management - The company emphasizes the importance of risk awareness regarding potential environmental and market competition risks that could lead to profit declines[4]. - The company faces risks from raw material price fluctuations, which significantly impact operating costs and gross margins, and will strengthen procurement controls to mitigate these risks[134]. - The company recognizes the risk of market competition, especially with the entry of international pesticide giants, and will enhance product innovation and development to maintain its competitive edge[133]. - The company is focused on reducing safety production risks by implementing advanced automation and control technologies in its production processes[135]. Research and Development - The company invested 75.72 million yuan in R&D in 2021, an increase of 21.39% compared to the previous year, and obtained 15 authorized patents[65]. - The company has a robust pipeline of new product development, leveraging its proprietary technologies and patents to enhance product efficacy and safety[46]. - The company plans to increase R&D investment and strengthen its innovation capabilities by attracting high-quality talent and collaborating with universities and research institutions[128]. - The company has committed to using the raised funds for specific investment projects, ensuring compliance with regulatory requirements[101]. Environmental Management - The company is dedicated to environmental protection and aims to comply with stricter environmental standards while minimizing pollution through innovative technologies[136]. - The company confirmed that it is a key pollutant discharge unit as per environmental protection department announcements[196]. - The company’s VOCs emissions were recorded at 9.750 tons, which also complied with the emission standards[196]. - The company has established a dedicated environmental management department and complies with environmental regulations, including timely payment of environmental taxes[198]. Governance and Management - The company's governance structure includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective decision-making and checks and balances[142]. - The board of directors consists of 9 members, including 3 independent directors, enhancing operational efficiency and risk management[142]. - The company has established a comprehensive internal control system that covers all aspects of its operations, effectively mitigating various risks[143]. - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders[145]. Market Position and Strategy - The global crop protection market is projected to reach $66.7 billion by 2023, with a compound annual growth rate of 3% from 2018 to 2023[29]. - The company focuses on the development of environmentally friendly biopesticides in response to increasing environmental concerns and regulatory pressures[30]. - The company aims to enhance its market share and expand its core crop market by focusing on differentiated strategies and developing new product lines for high-quality growth[127]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach[115]. Employee and Workforce Management - The total number of employees at the end of the reporting period was 1,310, with 394 in the parent company and 916 in major subsidiaries[175]. - The company implemented a comprehensive labor contract system, ensuring compliance with national labor laws and providing social insurance for all employees[177]. - A multi-level training program was established to support employee growth and development, including management, technical, and new employee training[178]. - The professional composition included 675 production personnel, 170 sales personnel, and 156 technical personnel[175].