GREAT-SUN(SH:603336)2024-04-11 16:00Financial Performance - The company's operating revenue for 2023 was approximately ¥1.086 billion, a decrease of 4.15% compared to ¥1.133 billion in 2022[23]. - Net profit attributable to shareholders decreased by 49.48% to approximately ¥24 million from ¥47 million in the previous year[23]. - The net profit after deducting non-recurring gains and losses fell by 58.03% to approximately ¥18.8 million, down from ¥44.8 million in 2022[23]. - Basic earnings per share decreased by 50% to ¥0.04 from ¥0.08 in the previous year[24]. - The diluted earnings per share also decreased by 50% to ¥0.04, reflecting the decline in net profit[24]. - The weighted average return on equity dropped to 2.09%, a decrease of 2.16 percentage points from 4.25% in 2022[24]. - Total assets increased by 3.62% to approximately ¥1.844 billion, up from ¥1.779 billion in 2022[23]. - The company reported a significant increase in non-recurring gains, totaling approximately ¥5.17 million in 2023 compared to ¥2.65 million in 2022[28]. - The company experienced a negative net profit of approximately ¥9.3 million in the fourth quarter, contrasting with positive profits in the earlier quarters of 2023[26]. - The company achieved a total revenue of CNY 1,085,793,266.42, representing a year-on-year decrease of 4.15%[72]. - The net profit attributable to shareholders was CNY 2,395.19 million, down 49.48% compared to the previous year[72]. Revenue Breakdown - The company's fruit and vegetable revenue was RMB 911.31 million, a decrease of 6.55% compared to the previous year, primarily due to market consumption downgrade[33]. - The frozen food business generated revenue of RMB 35.37 million, an increase of 25.13% year-on-year, reflecting strong product demand and market acceptance[37]. - The edible oil business reported revenue of RMB 38.67 million, a significant increase of 115.24% year-on-year, driven by the introduction of various oil products[38]. - The meat trade business revenue was RMB 97.34 million, a decrease of 8.81% year-on-year, impacted by a decline in frozen meat trade market prices[39]. - The main business revenue accounted for 99.47% of total revenue, amounting to CNY 1,079,987,975.12, which is a decrease of 3.99% year-on-year[75]. Operational Efficiency and Strategy - The company is focusing on optimizing its operational efficiency and cost control through integrated supply chain management[39]. - The company is enhancing its brand exposure and marketing strategies through digital channels, including live streaming on platforms like Tmall and Xiaohongshu[34]. - The company has established a comprehensive multi-channel sales system, covering major e-commerce platforms and chain supermarkets[36]. - The company aims to enhance its supply chain capabilities, focusing on integrated operations across production, processing, and distribution to improve efficiency and reduce costs[113]. - The company is committed to improving cold chain logistics to enhance the freshness and safety of its products, thereby reducing waste and logistics costs[112]. Investment and Expansion - The company plans to invest approximately RMB 135 million in the construction of a health food processing base, focusing on low-sugar health foods and pre-prepared dishes[40]. - The company is actively pursuing market expansion through new product development and strategic investments in health food sectors[105]. - The company is expanding into frozen food and edible oil industries, with new businesses currently not yet scaled but gradually being developed[46]. - The company plans to scale up its frozen food and edible oil businesses, while also expanding into pre-prepared dishes and central kitchen products[119]. Risk Management - The company faces risks related to price fluctuations of fruit and vegetable products, which are influenced by various natural factors and market dynamics, potentially impacting gross margin and performance[130]. - There is a risk of inventory devaluation or unsold products due to seasonal and regional characteristics of fruit and vegetable sales, which may lead to price declines and reduced profit margins[131]. - The company is closely monitoring economic conditions and maintaining communication with clients and suppliers to mitigate risks from adverse macroeconomic factors[138]. Governance and Compliance - The company has maintained complete independence from its controlling shareholder in terms of assets, personnel, finance, organization, and business operations[146]. - No significant differences exist between the company's governance and the regulations set by the China Securities Regulatory Commission[147]. - The company has established a comprehensive management system, but expansion may introduce management risks if the system is not timely adjusted[136]. - The company has a structured process for approving the remuneration plans for directors and senior management, requiring board and shareholder approval[167]. Shareholder Engagement - The company has seen a significant increase in shareholder engagement and participation in decision-making processes[160]. - The company held its second extraordinary general meeting of shareholders on March 28, 2023, to elect the fifth board of directors and supervisors[161]. - The company reported a total pre-tax compensation of 43.86 million for the chairman and general manager Huang Chen[158]. Environmental Responsibility - The company did not incur any administrative penalties related to environmental issues during the reporting period, adhering to relevant environmental protection laws[199]. - The company did not disclose any other environmental information as it is not classified as a key pollutant discharge unit by local authorities[200].