湘佳股份(002982) - 2023 Q4 - 年度财报

Financial Performance - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company's operating revenue for 2023 was CNY 3,890,122,738.57, representing a 1.76% increase from CNY 3,822,999,685.20 in 2022[23]. - The net profit attributable to shareholders was a loss of CNY 147,151,499.35, a decrease of 238.99% compared to a profit of CNY 105,873,030.59 in 2022[23]. - The net cash flow from operating activities increased by 33.95% to CNY 161,541,962.57 from CNY 120,595,055.11 in the previous year[23]. - The basic earnings per share were -CNY 1.03, down 239.19% from CNY 0.74 in 2022[23]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 157,984,213.77 compared to a profit of CNY 85,027,501.99 in 2022, marking a 285.80% decrease[23]. - The company experienced a quarterly revenue of CNY 1,060,172,435.87 in Q4 2023, with a net profit loss of CNY 91,435,651.00 for the same quarter[28]. - The total amount of non-recurring gains and losses for 2023 was CNY 10,832,714.42, down from CNY 20,845,528.60 in 2022[30]. - The weighted average return on net assets was -8.42% in 2023, a decrease of 14.50% from 6.08% in 2022[23]. - The company reported a decrease in net assets attributable to shareholders, which fell by 9.43% to CNY 1,660,177,149.35 from CNY 1,833,014,529.01 in 2022[23]. Business Operations - The company primarily breeds and sells yellow feather broilers, with a focus on high-quality local poultry varieties, achieving nearly 100% domestic production rate[35]. - The yellow feather broiler market is expanding northward due to the rapid development of e-commerce and logistics, despite its traditional concentration in southern China and Hong Kong[35]. - The company has established a comprehensive industry chain, including feed production, breeding, poultry farming, slaughtering, and sales, positioning itself as a leader in the fresh and cold chain logistics sector[40]. - The company’s fresh poultry products are sold across 28 provinces, including major markets like Hunan, Hubei, Chongqing, Beijing, Shanghai, and Guangdong[40]. - The company has successfully transitioned towards fresh poultry and cooked food products, becoming a flagship in the yellow feather broiler market[40]. - The yellow feather broiler industry is characterized by strong cyclicality, with price fluctuations driven by supply and demand dynamics, leading to significant market volatility[38]. - The company’s main products include live chickens, live ducks, and chicken and duck meat, primarily targeting wholesale markets and food service institutions[42]. - The company’s product offerings include fresh whole poultry and processed poultry products, aimed at supermarkets and new retail channels[43]. Risk Management - The company is subject to various operational risks, including performance fluctuations, raw material price volatility, and market competition[4]. - The company has outlined potential risks in its main business operations and corresponding countermeasures in the management discussion section[4]. - The company has implemented measures to stabilize raw material prices, including strategic partnerships with suppliers and a procurement bidding mechanism[63]. - The company has faced potential risks related to contract misunderstandings with cooperative farmers, which could lead to disputes and impact operations[66]. - The company has invested in agricultural insurance to transfer and diversify risks associated with its breeding operations[66]. Supply Chain and Production - The company employs a "company + base + farmer" breeding model for yellow feathered broiler chickens, ensuring quality control and cost management[55]. - The standardized self-raising model has been created to enhance production efficiency and ensure food safety through unified management of breeding bases[57]. - The company has established a complete industrial chain covering feed production and sales, breeding, poultry farming and sales, poultry slaughtering and processing, and bio-fertilizer production and sales[52]. - The company has established 29 high-standard, fully automated standardized bases in various regions, focusing on the transformation to a standardized and intensive cage breeding model[58]. - The company’s feed production has been certified by ISO9001:2015, ensuring nutritional balance while reducing nitrogen and phosphorus content in chicken manure[58]. - The company has obtained multiple certifications including ISO9001:2015 for quality management and ISO22000:2018 for food safety, ensuring compliance with national standards in its slaughtering and processing operations[59]. Research and Development - Research and development expenses increased by 56.38% to CNY 21.15 million, focusing on breeding, processed products, and cooked food[78]. - The company established partnerships with several research institutions to enhance its technological capabilities[75]. - The company has invested 50 million yuan in research and development for innovative technologies to improve product quality[159]. - The company is collaborating with research institutions to develop new breeds suitable for target markets[133]. Corporate Governance - The company has a dedicated internal audit department that supervises economic operations and internal controls[140]. - The company emphasizes investor relations management, facilitating communication through annual reports and investor meetings[139]. - The company has committed to avoiding any business competition with its major shareholders through signed agreements[142]. - The company maintains a strict governance structure, ensuring compliance with laws and regulations, and protecting shareholders' rights[138]. - The board of directors consists of nine members, including three independent directors, who provide valuable suggestions for the company's development[139]. Environmental Responsibility - The total wastewater discharge was 43.34 million m³, with chemical oxygen demand (COD) levels at 19.7 mg/L, well below the standard of 150 mg/L[191]. - The company has implemented measures to treat pollutants, ensuring compliance with environmental standards[192]. - There were no administrative penalties related to environmental issues during the reporting period[195]. Social Responsibility - The company actively participates in social welfare, contributing approximately 147,500 CNY to poverty alleviation and assistance programs during the reporting period[196]. - The company has been recognized for its contributions to poverty alleviation, receiving the title of "National Employment Poverty Alleviation Base" in July 2017 and "National Advanced Collective in Poverty Alleviation" in February 2021[199].