SMAC(SH:600073)2024-03-27 16:00Financial Performance - In 2023, the company achieved a net profit attributable to shareholders of RMB 225,571,040.08, a decrease of 55.13% compared to RMB 502,770,556.40 in 2022[6]. - The total operating revenue for 2023 was RMB 22,367,181,017.29, reflecting a decline of 10.49% from RMB 24,987,303,985.90 in the previous year[23]. - The net cash flow from operating activities decreased by 80.82% to RMB 379,553,353.21, down from RMB 1,978,524,677.95 in 2022[23]. - The basic earnings per share for 2023 were RMB 0.24, down 55.55% from RMB 0.54 in 2022[24]. - The weighted average return on equity decreased to 3.25% in 2023, down 7.63 percentage points from 10.88% in 2022[24]. - The net profit after deducting non-recurring gains and losses was RMB 153,250,373.32, a decrease of 65.54% from RMB 444,657,723.24 in 2022[23]. - The gross profit margin for the overall business was 9.39%, reflecting a decrease of 3.97 percentage points compared to the previous year[65]. - The company reported a significant increase in R&D expenses, which rose by 25.14% to approximately ¥62.75 million[63]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.73 per 10 shares, totaling RMB 68,454,251.46, which represents a cash dividend payout ratio of 30.35%[6]. - The total cash dividend amount for the reporting period was CNY 68,454,251.46, which accounted for 30.35% of the net profit attributable to ordinary shareholders[158]. Market and Industry Trends - The company faced significant pressure from high inflation and rising production costs in the beef and lamb business, which compressed profit margins[31]. - The total number of live pigs slaughtered in China reached 726.62 million heads in 2023, an increase of 3.8% compared to 2022, marking the second-highest level in the past decade[34]. - The national pork production in 2023 was 57.94 million tons, a year-on-year increase of 4.6%, the highest level since 2015[34]. - The average pork price in 2023 decreased by 13.6% compared to the previous year, reflecting a loose supply situation in the domestic market[34]. - The pig slaughtering industry is highly fragmented, making it difficult for enterprises to secure stable supply and profitability, but larger enterprises are gaining advantages in cost efficiency and management[35]. Product Development and Innovation - New product development in the pre-prepared and semi-finished food sectors is seen as a new profit model for the industry[31]. - The company launched several new products, including four pre-prepared dishes under the Su Shi brand and various canned food products, contributing to a 35.20% increase in revenue from the leisure food segment[52]. - The company is focusing on developing new products, including ready-to-eat meals and seasonal canned products, to enhance market competitiveness[89]. - The company is investing in brand innovation and packaging design to attract younger consumers and enhance brand vitality[89]. Operational Efficiency and Strategy - The company is focusing on high-quality development and risk management to enhance efficiency and mitigate risks in a complex economic environment[32]. - The company implemented a digital transformation strategy, launching an integrated financial information system across 12 enterprises, enhancing supply chain efficiency[54]. - The company is actively adjusting its production and sales structure in response to market changes, focusing on online and offline integration[88]. - The company aims to achieve a total operating revenue of 23.195 billion yuan in 2024, focusing on high-quality development in the high-protein industry chain[113]. Environmental and Social Responsibility - The company invested CNY 1,143.7 million in environmental protection during the reporting period[167]. - The company has established wastewater treatment facilities that operate normally and meet discharge standards[190]. - The company has engaged in various energy-saving and emission-reduction modifications across its operations[191]. - Total social responsibility investment amounted to 172,000 RMB, reflecting the company's commitment to social welfare initiatives[194]. Governance and Management - The company has a comprehensive governance structure with independent boards and committees, enhancing decision-making and operational efficiency[124]. - The company has appointed independent directors to enhance governance and oversight[137]. - The total pre-tax remuneration for senior management during the reporting period amounted to CNY 969.79 million[130]. - The company has not faced any penalties from securities regulatory agencies in the past three years[140].