晨光生物(300138) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was CNY 6,295,872,780.53, representing a 29.18% increase compared to CNY 4,873,610,394.24 in 2021 [24]. - The net profit attributable to shareholders for 2022 was CNY 434,033,194.20, up 23.48% from CNY 351,514,428.78 in 2021 [24]. - The net profit after deducting non-recurring gains and losses was CNY 371,840,318.84, a 30.68% increase from CNY 284,546,967.11 in 2021 [24]. - The net cash flow from operating activities reached CNY 734,807,406.57, a significant increase of 1,049.93% compared to CNY 63,899,957.93 in 2021 [24]. - The total assets at the end of 2022 were CNY 6,923,739,569.28, reflecting a 16.26% increase from CNY 5,955,165,411.81 at the end of 2021 [24]. - The weighted average return on equity for 2022 was 14.60%, an increase from 13.58% in 2021 [24]. - The company reported a total procurement amount of CNY 5,023.05 million for raw materials, with over 30% sourced from cooperatives or farmers [72]. - The company's total operating costs for 2022 were CNY 5,418.15 million, reflecting a year-on-year increase of 30.42% [73]. - The gross profit margin for the natural plant extraction industry was 13.94%, with a slight decrease of 0.81% compared to the previous year [108]. Market Position and Growth Potential - The global market size for plant extracts is expected to reach $59.4 billion by 2025 [35]. - The market for compound seasonings in China grew from 43.2 billion yuan in 2011 to 144 billion yuan in 2020, with a CAGR of 14.31% [42]. - The market size for hot pot seasoning increased from 15.6 billion yuan in 2011 to 56 billion yuan in 2020, with a CAGR of 15.28% [42]. - The penetration rate of pepper extract in the catering industry is currently less than 2%, indicating significant growth potential [44]. - The global market for natural food colorants is projected to reach $2.5 billion by 2025 [40]. - The number of diabetes patients globally reached 537 million in 2021, with 141 million in China, driving demand for natural sweeteners [45]. - The compound seasoning market in China is expected to continue its rapid growth, driven by rising living standards and consumption upgrades [42]. Research and Development - The company has a robust R&D team of over 100 people, focusing on process technology improvement and new product development [51]. - The company has established strong partnerships with universities and research institutions to enhance its R&D capabilities [79]. - The company has built a world-class R&D platform, including a provincial engineering technology research center and a national enterprise technology center [81]. - The company has applied for 456 patents, with 332 granted, and published 228 papers, showcasing its strong focus on research and innovation [80]. - Research and development expenses rose by 36.11% to ¥129,028,765.28, driven by increased investment in process upgrades and project development [119]. - The company is actively developing new technologies and products, including the production of chicory powder and the development of anti-adhesion products, to diversify its product offerings [122]. Product Development and Innovation - The company aims to develop ten products that rank first or among the top in the world, leveraging its R&D and industrial production capabilities [37]. - The company has achieved a significant increase in the market share of chili red pigment from less than 2% to over 80% in the international market [51]. - The company has completed the development of various new products, including microencapsulated products and multi-vitamin tablets, which are expected to enhance market competitiveness [123]. - The company is conducting application research on marigold comprehensive utilization, aiming for large-scale production to meet market demand [121]. - The company is preparing to conduct pilot tests for the water milk thistle extract project, aiming to meet market demand through optimized production processes [121]. Risk Management - The company has not identified any significant risks that could adversely affect its operations in the next reporting period [4]. - The company faces risks from raw material supply and price fluctuations, which significantly impact operating performance due to high raw material cost proportions [57]. - The company adopts a cost-plus pricing strategy to mitigate product price volatility risks, ensuring stable profit margins [57]. - The company has implemented strict risk control measures for hedging activities, including adherence to relevant laws and regulations [144]. Governance and Compliance - The company established a governance structure based on the general meeting of shareholders, board of directors, supervisory board, and management team, ensuring effective decision-making and supervision [179]. - The company’s governance practices comply with legal regulations and the requirements set by the China Securities Regulatory Commission [179]. - The company respects and protects the legitimate rights and interests of stakeholders, emphasizing social responsibility and communication with various parties [185]. - The company adheres to strict information disclosure practices, ensuring timely and accurate information is available to all shareholders through multiple channels [186]. Sustainability and Environmental Commitment - The company is committed to environmental protection and has invested in strict monitoring systems to comply with increasing regulatory standards [60]. - The company is committed to sustainable and healthy development through a scientifically rational product hierarchy, which is a core driver of its performance [52]. - The company has established raw material bases in Xinjiang, Yunnan, and India, and is currently trial planting in Zambia to ensure stable supply of quality raw materials [56]. Strategic Goals and Future Plans - The company aims to build a global natural extract industry base, emphasizing the importance of global resource allocation to achieve this goal [4]. - The company plans to enhance its core competitive advantages and steadily improve operational performance by expanding its marketing team and focusing on user needs in product development [160]. - The company intends to optimize production processes and expand capacity for products like turmeric extract and rosemary extract to create new economic growth points [162]. - The company aims to establish a robust information analysis model to accurately assess market trends and supply-demand relationships [161].