三元生物(301206) - 2021 Q4 - 年度财报

Dividend and Capital Management - The company plans to distribute a cash dividend of 10.00 RMB per 10 shares to all shareholders, based on a total of 134,883,800 shares[4]. - The company will increase its capital reserve by converting 5 shares for every 10 shares held by shareholders[4]. - The company plans to distribute cash dividends amounting to at least 30% of the average distributable profit over the next three years, ensuring stable returns for shareholders[159]. - A cash dividend of 10.00 CNY per 10 shares (including tax) will be distributed, totaling 134,883,800.00 CNY, with no stock dividends issued[162]. - The cash dividend represents 100% of the total profit distribution, adhering to the minimum requirement of 20% for companies in a growth phase[161]. - The company plans to increase its total share capital by 67,441,900 shares through a capital reserve conversion, resulting in a new total of 202,325,700 shares[162]. Financial Performance - The company's operating revenue for 2021 was ¥1,675,320,034.94, representing a 113.91% increase compared to ¥783,182,230.09 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥535,415,008.89, a 130.21% increase from ¥232,572,771.07 in 2020[18]. - The net cash flow from operating activities reached ¥642,075,356.24, marking a 195.39% increase compared to ¥217,367,948.72 in 2020[18]. - The basic earnings per share for 2021 was ¥5.29, up 130.00% from ¥2.30 in 2020[18]. - The total assets at the end of 2021 amounted to ¥1,634,157,434.85, a 109.13% increase from ¥781,390,501.72 at the end of 2020[18]. - The company reported a significant increase in fixed assets, totaling CNY 413,339,585.50, which decreased as a percentage of total assets from 36.09% to 25.29% due to ongoing construction projects being completed[84]. - The company achieved a revenue of CNY 1,675.32 million in 2021, representing a year-on-year growth of 113.91%[57]. - Net profit attributable to shareholders reached CNY 535.42 million, marking a 130.21% increase compared to the previous year[57]. Research and Development - The company highlights its focus on research and development of functional sugars and food additives, which are critical to its product offerings[12]. - Research and development expenses increased by 94.46% to ¥59,001,226.95, driven by more projects and higher material and labor costs[75]. - The number of R&D personnel rose to 49, a 32.43% increase from 37 in the previous year[77]. - The company is currently developing multiple new products, including the enzyme method for preparing Reb M and the preparation technology for allulose[76]. - The company plans to enhance the purity of Reb M to ≥98% through advanced refining techniques[76]. - The company has signed agreements with research institutions to develop new sweeteners, enhancing its R&D capabilities and product offerings[59]. Market and Competitive Position - The company is the largest producer of erythritol globally, with erythritol and its blended sugars accounting for 97.97% of total revenue during the reporting period[32]. - The market for functional foods is rapidly growing in China, driven by increasing health awareness and changing consumer preferences, creating a strong demand for high-value products like erythritol[30]. - The adult overweight rate in China is 34.3%, and the obesity rate is 16.4%, highlighting a significant market opportunity for sugar substitutes like erythritol[41]. - The company has experienced significant growth in user data and market share, driven by increased demand for its products[29]. - The company is actively exploring potential mergers and acquisitions to enhance its market position and expand its operational capabilities[29]. - The company plans to continue expanding its product offerings in the erythritol and compound sugar products sector, focusing on R&D and market penetration[29]. Risk Management - The company acknowledges potential risks in future operations and outlines corresponding mitigation strategies in the management discussion section[4]. - The company faces risks from increasing market competition and potential price declines in erythritol due to new entrants and capacity expansions[99]. - The company is addressing the risk of raw material price increases, particularly corn, which significantly affects production costs[102]. - The company plans to enhance its risk resistance capabilities by adjusting strategies based on market conditions, including price adjustments and purchasing export credit insurance[103]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring collective accountability[4]. - The company has established a sound corporate governance structure, including a board of directors and supervisory board, operating independently from controlling shareholders[126]. - The company has a dedicated human resources management system, ensuring that all employees are under independent contracts[123]. - The company has maintained a stable management team with no changes in directors or senior management during the reporting period[131]. - The company has a diverse board with members holding expertise in various fields, including engineering, finance, and management[135]. Compliance and Transparency - The report emphasizes the importance of accurate financial reporting and the responsibility of management to ensure completeness and truthfulness[3]. - The company has committed to transparency by making all relevant documents available for public inspection, including financial statements and audit reports[9]. - The company emphasizes social responsibility, focusing on economic and social benefits, and adheres to national laws and regulations[170]. - The company ensures investor rights protection by providing timely, accurate, and complete information disclosure, maintaining fairness and transparency[171]. - The company complies with labor laws, providing employees with contracts and social insurance, while focusing on their safety and health[171]. Operational Efficiency - The company employs a "sales-driven production" model, ensuring timely delivery of products based on customer orders[36]. - The company’s procurement strategy is based on a "production-based ordering" model, allowing for efficient inventory management and cost control[34]. - The integration of ERP and production automation systems has improved operational efficiency and responsiveness to customer needs[53]. - The company has implemented a comprehensive quality management system, achieving multiple international certifications including ISO9001:2015 and FDA approval[55]. Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% and aiming to reach 1.875 billion RMB[178]. - The company plans to invest in a new project to produce 50,000 tons of erythritol, which is expected to significantly enhance profitability and market position[58]. - The company plans to enhance its market presence through strategic investments and partnerships in the biotechnology industry[134]. - The company plans to implement a stock repurchase program to stabilize its stock price, with a total repurchase amount not exceeding 20% of the previous year's audited net profit attributable to shareholders[181].