三元生物(301206) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was ¥674,905,595.63, a decrease of 59.71% compared to ¥1,675,320,034.94 in 2021[27]. - The net profit attributable to shareholders for 2022 was ¥163,686,641.34, down 69.43% from ¥535,415,008.89 in the previous year[27]. - The cash flow from operating activities for 2022 was ¥84,264,654.04, representing an 86.88% decline from ¥642,075,356.24 in 2021[27]. - Basic earnings per share for 2022 were ¥0.82, a decrease of 76.77% compared to ¥3.53 in 2021[27]. - The company reported a quarterly revenue of ¥272,598,107.02 in Q1 2022, which decreased to ¥111,541,943.95 in Q4 2022[29]. - The net profit attributable to shareholders in Q4 2022 was ¥12,530,699.56, significantly lower than ¥62,765,994.16 in Q1 2022[29]. - The company experienced a significant decline in net profit margins, with a weighted average return on equity of 3.80% in 2022, down from 68.85% in 2021[27]. - The gross profit margin for erythritol products dropped to 10.50% in 2022 from 41.56% in 2021, reflecting a significant decline of 31.06%[57]. - The revenue from the food additive industry was CNY 655.82 million, accounting for 97.17% of total revenue, with a year-on-year decrease of 60.05%[81]. - The company's sales volume in the food additive industry decreased by 47.37% year-on-year, while production volume dropped by 44.08% due to intensified market competition and reduced orders from downstream customers[84]. Market Conditions - The sales revenue of the company's products declined due to economic downturn and weak consumer demand, particularly in the downstream beverage and dining sectors[4]. - The market price of erythritol significantly decreased, compressing the profit margins for industry players due to increased supply from new capacities and expansions by existing companies[4]. - The functional sugar industry, particularly erythritol, faced increased competition in 2022, leading to a supply surplus and a significant drop in prices, impacting profitability[43]. - The overall demand for functional sugars is expected to grow due to increasing consumer awareness of health and nutrition[45]. - The company operates in the functional sugar sector, focusing on erythritol production, which is expected to benefit from the growing health-conscious consumer trend[45]. Investment and R&D - The company invested in a wholly-owned R&D subsidiary to enhance its core technology competitiveness and expand its product range, including new products like stevia and hyaluronic acid[78]. - The company established a wholly-owned R&D subsidiary focused on high-end applications in synthetic biology, collaborating with multiple research institutions[71]. - The company aims to achieve a fermentation reaction cycle of no more than 24 hours and a yield of no less than 95% in glucose acid production[97]. - The company is developing a high-yield strain of yeast for erythritol production, targeting a yield of at least 50% using glucose as the substrate[97]. - The company has completed the development of alulose preparation technology, achieving a purity of over 95%[96]. Production and Supply Chain - The company benefits from a stable supply of raw materials, particularly starch derived from corn, which is abundant in its operational region[46]. - The company employs a "production based on orders" procurement model, maintaining a short inventory cycle for main raw materials and a longer cycle for auxiliary materials[51]. - The production model is customer order-oriented, ensuring timely delivery based on customer specifications and maintaining appropriate finished goods inventory levels[52]. - The company has improved the purity of erythritol extracted from mother liquor from below 50% to over 80% through innovative extraction techniques[68]. - Automation improvements have increased temperature control precision to 0.1°C, compared to the traditional manual control range of 3-5°C[69]. Strategic Initiatives - The company plans to launch a new small packaging brand "Yuan Sheng Tian" to expand its market reach from B2B to B2C, enhancing brand awareness and market influence[54]. - The company is focusing on expanding its retail presence by acquiring a 20% stake in PeiXue Biotechnology to enhance its market influence[79]. - The company aims to maintain its market leadership in erythritol while developing competitive functional sugars and expanding into specialized food, cosmetics, and drug delivery systems, driven by consumer demand for green and healthy products[129]. - The company plans to enhance its R&D capabilities by collaborating with leading food fermentation research institutions to improve product innovation and reduce reliance on a single product[131]. - The company is actively expanding its customer base by targeting small and medium enterprises to reduce reliance on major clients[140]. Governance and Compliance - The company maintains independent operations with complete control over its assets, personnel, finance, and business, ensuring no violations by the controlling shareholder[155]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, aligning with its development status[150]. - The company adheres to strict internal audit procedures, enhancing governance and ensuring the achievement of operational goals[154]. - The company has independent financial accounting systems and decision-making capabilities, complying with accounting standards[157]. - The company has a transparent information disclosure system, ensuring fair access to information for all investors[152]. Shareholder and Dividend Information - The profit distribution plan approved by the board is to distribute a cash dividend of 7 RMB (including tax) for every 10 shares, based on a total of 202,325,700 shares[6]. - The total distributable profit for shareholders was CNY 833,753,971.65, which is the lower of the consolidated and parent company reports[198]. - The cash dividend represents 100% of the total profit distribution amount[195]. - The company strictly follows its profit distribution policy, ensuring clarity and compliance with relevant regulations during the dividend distribution process[193]. - The company distributed a cash dividend of 10.00 yuan per 10 shares, totaling 134,883,800.00 yuan, and increased its share capital by 67,441,900 shares through a capital reserve conversion[192].