京基智农(000048) - 2023 Q4 - 年度财报

Financial Performance - The company reported a revenue of CNY 12,417,006,232.40 for 2023, representing a 107.10% increase compared to CNY 5,995,656,104.54 in 2022[9] - Net profit attributable to shareholders reached CNY 1,746,300,186.67, up 125.89% from CNY 773,073,916.59 in the previous year[9] - The company's total assets decreased by 30.84% to CNY 12,127,949,064.02 at the end of 2023, compared to CNY 17,536,045,755.10 at the end of 2022[9] - The net asset attributable to shareholders increased by 46.89% to CNY 3,852,734,738.27 at the end of 2023, up from CNY 2,622,827,542.76 in 2022[9] - The company experienced a net cash flow from operating activities of -CNY 414,653,912.74, a decline of 140.61% compared to CNY 1,021,171,817.86 in 2022[9] - The weighted average return on equity was 55.47% for 2023, an increase of 24.12 percentage points from 31.35% in 2022[9] Revenue Breakdown - Real estate development contributed ¥8,582,074,600.90, accounting for 69.12% of total revenue, with a significant year-on-year growth of 216.98%[32] - The feed production segment generated ¥923,458,439.39, representing 7.44% of total revenue, with a slight increase of 4.16% year-on-year[32] - The breeding industry reported revenue of ¥2,887,427,838.54, which is 23.25% of total revenue, showing a year-on-year growth of 23.02%[32] - The core business of pig farming generated revenue of approximately ¥2.81 billion, accounting for 22.65% of total revenue, while the real estate segment contributed approximately ¥8.58 billion, representing 69.12% of total revenue[134] Operational Highlights - The company sold a total of 1,845,000 pigs in 2023, including 232,000 piglets, with a year-end inventory of 1,108,500 fattening pigs and 112,200 breeding sows[22] - The company sold 22,069,000 chicks during the reporting period, marking a 1.2% year-on-year increase[23] - The company has established multiple integrated pig breeding and fattening bases in Guangdong and surrounding areas, primarily supplying the Guangdong-Hong Kong-Macao Greater Bay Area market[125] - As of the end of 2023, the company had a breeding stock of approximately 112,000 sows, with about 98,000 being foundation sows, indicating a leading position in the region[128] Research and Development - The company has invested over ¥100 million in research and development related to livestock breeding, achieving multiple patents and software copyrights[44] - The company has established a close cooperation with South China Agricultural University for key technology research in the livestock industry[44] - The company has developed a strong research foundation in animal nutrition and feed formulation technology, allowing for cost-effective and tailored feed solutions[115] Strategic Initiatives - The company is actively participating in the national key research and development plan for the "14th Five-Year Plan," focusing on intelligent biosecurity and epidemic prevention technologies in pig farming[44] - The company has signed a strategic cooperation framework agreement with the Shenzhen Market Supervision Administration to prioritize the supply of pigs and various meat products to Shenzhen[127] - The company has established strategic partnerships with international breeding companies to enhance its breeding capabilities and genetic performance[128] Market Position - The company's market share in the listed pig farming sector increased from 7.43% in 2018 to 21.08% in 2023, reflecting a shift towards larger-scale farming enterprises[106] - The company has been recognized for its contributions to food supply stability in Shenzhen, receiving multiple honors for its efforts[109] Cost Management - The average breeding cost for fattening pigs has shown a continuous decline, positioning the company as a leader in cost control within the industry[114] - The company has implemented multiple technical improvements to reduce costs in energy consumption, raw materials, and labor efficiency[85] Real Estate Development - The company reported a total transaction volume of 64,389 residential units in Shenzhen for 2023, representing a year-on-year increase of 14.7%[82] - The average transaction price for new residential properties in Shenzhen was 59,554 RMB per square meter, down 11.4% year-on-year[82] - The average transaction price for second-hand residential properties in Shenzhen was 63,386 RMB per square meter, down 15.4% year-on-year[82] - The cumulative pre-sale area for the Shanhai Yuyuan project reached approximately 161,201.53 square meters, with a pre-sale amount of approximately ¥177.34 million in the current period[123] Corporate Governance - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[145] - The company has no violations regarding external guarantees during the reporting period[146] - The company has established a commitment to standardize related party transactions, ensuring fair and reasonable market pricing[142] Legal and Compliance - The company has a total of 62.3714 million yuan involved in ongoing or settled litigation, which does not have a significant impact on the company[154] - The company has no major litigation or arbitration matters that meet the disclosure standards during the reporting period[154] Audit and Financial Reporting - The audit fee for the financial report in 2023 is 1.17 million yuan (excluding tax), and the internal control audit fee is 300,000 yuan (excluding tax)[153] - The company has changed its accounting policy effective January 1, 2023, but it has no impact on the financial statements[147]