LONGDA(SZ:002726)2024-04-15 13:26Financial Performance - The company reported a revenue of RMB 1.5 billion for the year 2023, representing a year-on-year increase of 12%[17]. - The net profit attributable to shareholders was RMB 200 million, up 15% compared to the previous year[17]. - The company's operating revenue for 2023 was ¥13,318,473,211.90, a decrease of 17.36% compared to ¥16,116,307,059.41 in 2022[25]. - The net profit attributable to shareholders was -¥1,538,353,704.08, representing a decline of 2,140.92% from ¥75,375,610.30 in the previous year[25]. - The net cash flow from operating activities was -¥588,718,478.69, a decrease of 162.56% compared to ¥941,102,462.16 in 2022[25]. - Basic earnings per share were -¥1.43, down 2,142.86% from ¥0.07 in 2022[25]. - The company reported a total revenue of RMB 13.32 billion, a year-on-year decrease of 17.36%[58]. - The net profit attributable to shareholders was a loss of RMB 1.54 billion, a significant decline of 2140.92% compared to the previous period[53]. Market Expansion and Strategy - User data indicates a growth in customer base by 20%, reaching a total of 1 million active users[17]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[17]. - Future guidance estimates a revenue growth of 10-15% for 2024, driven by increased demand and new product offerings[17]. - The company aims to develop into a leading food enterprise in China, focusing on high-quality food solutions[38]. - The company is focusing on developing high-end low-temperature ham products to enhance brand image and market presence[70]. - The company plans to focus on the food sector in 2024, aiming to increase its business share and enhance efficiency while reducing costs[95]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2024[17]. - The company launched 113 new products in 2023, generating sales of approximately RMB 440 million, with seven products exceeding RMB 10 million in sales[55]. - New product development includes a variety of pre-prepared food items aimed at expanding market reach and meeting consumer demand[70]. - The company aims to enhance product innovation in 2024, focusing on low-fat, low-salt, and "0 additive" healthy snack products, while promoting core products like pork products and sausages[98]. Operational Efficiency and Cost Control - The company has invested RMB 50 million in R&D for new technologies aimed at improving production efficiency[17]. - The company has implemented a "sales-driven production" model, adjusting production plans based on market orders and inventory levels[47]. - The company’s supply chain integration and cost control advantages are enhanced by direct sourcing of raw materials from its own breeding and slaughtering operations[50]. - The total operating costs decreased by 12.53% to approximately ¥13.53 billion, with the cost of fresh frozen meat accounting for 72.77% of total costs[63]. Risk Management and Compliance - The company emphasizes risk awareness regarding forward-looking statements due to potential market fluctuations[4]. - The company has acknowledged uncertainty regarding its ability to continue as a going concern due to negative net profits over the last three years[25]. - The company faces risks related to animal diseases, particularly African swine fever, which could significantly impact its pig farming operations[102]. - The company is also concerned about food safety risks, as any incidents could harm its brand image and sales[103]. - The company has committed to avoiding related party transactions with its pig farming projects, ensuring fair market pricing[186]. Environmental and Social Responsibility - The company actively promotes environmental protection and has not had any environmental pollution incidents, focusing on energy conservation and emission reduction[178]. - The company has established a comprehensive food safety assurance system, adhering to HACCP and ISO9001 standards, ensuring strict quality control throughout the production process[180]. - The company has implemented a new model for manure treatment at its Guangshan pig farm, achieving both economic and ecological benefits by improving soil quality and agricultural product standards[179]. - The company is focused on rural revitalization and poverty alleviation through its farming model, benefiting local farmers[182]. Governance and Management - The company maintains complete independence from its controlling shareholder in terms of business, assets, personnel, and finance, demonstrating its ability to operate autonomously in the market[116]. - The company has established a transparent performance evaluation and incentive mechanism for its directors, supervisors, and senior management, ensuring compliance with legal regulations[121]. - The company has experienced changes in its board of directors, with several members resigning and new appointments made in 2023[126]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.31 million[133]. Shareholder Engagement - The company held four temporary shareholder meetings in 2023, with participation rates ranging from 43.01% to 44.71%[124]. - The company has committed to compensating any economic losses incurred by the listed company due to violations of the commitments made by the controlling shareholder[123]. - The company plans to initiate a share buyback program if any false disclosures are identified, ensuring investor protection[190].