Hiroad(SZ:300915)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was ¥746,934,444.44, representing a 30.66% increase compared to ¥571,653,494.39 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥112,435,917.87, up 29.49% from ¥86,828,247.08 in the previous year[20]. - The basic earnings per share for 2021 was ¥1.2493, a 9.71% increase from ¥1.1387 in 2020[20]. - The total assets at the end of 2021 amounted to ¥1,599,203,161.21, reflecting a 7.38% increase from ¥1,489,233,634.53 at the end of 2020[20]. - The net assets attributable to shareholders increased by 5.69% to ¥1,396,429,252.22 at the end of 2021, compared to ¥1,321,218,306.19 at the end of 2020[20]. - The gross profit margin decreased to 43.66% in 2021 from 52.93% in 2020, reflecting a decline of 9.27%[46]. - The revenue from the margarine segment increased by 31.89% year-on-year, primarily due to enhanced marketing and sales efforts[42]. - The cost of goods sold rose by 59.52% year-on-year, mainly due to increased raw material prices and adjustments in transportation costs[43]. - The company achieved a net profit of 112,436,456.85 RMB in 2021, with a decrease in net cash flow from operating activities by 27.90% compared to the previous year[81]. Cash Flow and Investments - The net cash flow from operating activities decreased by 27.90% to ¥57,060,292.66 in 2021, down from ¥79,145,476.84 in 2020[20]. - The company reported a significant increase in cash outflow from investment activities, totaling 4,607,479,412.54 RMB, a rise of 23,071.18% year-on-year[80]. - The cash and cash equivalents decreased by 984,782,093.07 RMB, reflecting a 193.17% decline due to comprehensive operational activities[81]. - The total investment amount for the reporting period reached CNY 1,027,479,412.54, representing a significant increase of 5,067.23% compared to the previous year[87]. - The company has invested CNY 70,000,000.00 in financial products as part of its cash management strategy[91]. Product Development and Innovation - The company launched a series of plant-based products, including the "Flying Egg" series, which features 0 fat and 0 cholesterol options[34]. - The company added 11 new invention patents during the reporting period, bringing the total to 55 patents, including 36 invention patents[33]. - The company completed a project on low-fat cream, expected to generate annual sales revenue of ¥10 million after completion[75]. - A new method for producing multi-flavor jam was developed, projected to achieve annual sales revenue of ¥8 million[76]. - The company has launched new products such as non-hydrogenated chocolate and plant-based cream for hot processing, showcasing its commitment to R&D[56]. Market Expansion and Strategy - The company is focused on optimizing product structure and diversifying channel expansion in response to market changes[32]. - The baking industry in China is projected to reach a market size of CNY 359 billion by 2025, indicating significant growth potential[31]. - The company plans to expand its production capacity by constructing a new baking raw material production project in Shanghai, which will strengthen its penetration in the national market for plant-based cream, jams, and chocolates[102]. - The company aims to enhance its market share in the plant-based cream segment and achieve stable business growth through continuous technological breakthroughs[101]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share in the region by 2025[184]. Corporate Governance and Compliance - The company has established a sound internal management and control system in accordance with relevant laws and regulations, enhancing its governance level[116]. - The board of directors consists of 6 members, including 2 independent directors, complying with legal and regulatory requirements[118]. - The company has not engaged in any related party transactions that could lead to unfair competition with its controlling shareholder[127]. - The company has confirmed that the use of raised funds aligns with actual usage, with no violations reported[95]. - The company has established a strict confidentiality system to protect its core technologies and product formulations, mitigating the risk of technology leakage[110]. Social Responsibility and Sustainability - The company has been recognized for its social responsibility efforts, including disaster relief and community support initiatives[39]. - The company emphasizes food safety as a core factor for brand recognition, implementing strict quality control based on HACCP, ISO9001, and ISO22000 standards[102]. - The company is focused on maintaining a low-carbon footprint and has implemented measures to improve resource utilization efficiency[175]. - The company actively participates in social responsibility initiatives, enhancing its governance structure and protecting shareholder rights[176]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[175]. Employee Management and Development - The total number of employees at the end of the reporting period was 846, with 596 in the parent company and 250 in major subsidiaries[159]. - The company has implemented a performance assessment system that links assessment results closely with variable wages, encouraging self-motivation and integrity among employees[160]. - The company provided various benefits, including commercial insurance, holiday gifts, and team-building benefits, to enhance employee stability and sense of belonging[160]. - The company has actively engaged in training programs for employees, including over 50 frontline technical service engineers participating in specialized training courses[162]. - The company is planning a restricted stock incentive plan to align the long-term interests of the company and key employees[160]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, targeting 1.32 billion RMB[182]. - The company plans to invest 100 million RMB in R&D for innovative food technologies over the next three years[182]. - The company aims to reduce operational costs by 5% through efficiency improvements in supply chain management[182]. - A new marketing strategy focusing on digital channels is expected to increase brand awareness by 40% in the next year[182]. - The company plans to implement a profit distribution policy, including cash dividends, as per the approved articles of association and the three-year dividend return plan post-IPO[188].