SBSY(SZ:200019)2024-04-15 13:37Financial Performance - The company reported a net cash flow from operating activities of approximately ¥585.82 million, representing a 10.14% increase compared to the previous year[22]. - Basic earnings per share decreased by 17.29% to ¥0.3018 from ¥0.3649 in the previous year[22]. - In 2023, the company achieved operating revenue of CNY 6.19 billion, a decrease of 25.54% year-on-year[32]. - The net profit attributable to shareholders was CNY 347.82 million, down 17.34% compared to the previous year[32]. - The total profit for the year was CNY 421 million, reflecting a year-on-year decrease of 10.52%[39]. - The total comprehensive income for the period was 420,764,671.03, showing a significant increase compared to the previous period[60]. - The company reported a significant decrease in inventory of grains and oils, contributing to the overall asset composition changes[134]. - The company reported a net cash flow from operating activities that significantly differs from the net profit for the year, indicating potential operational challenges[113]. Assets and Liabilities - Total assets at the end of 2023 were approximately ¥7.40 billion, a decrease of 0.58% from ¥7.44 billion in 2022[22]. - The net assets attributable to shareholders of the listed company increased by 1.29% to approximately ¥4.82 billion from ¥4.76 billion in 2022[22]. - The company’s total liabilities at the end of the period were 1,152,535,254.00, indicating a stable financial position[66]. - As of the end of 2023, cash and cash equivalents amounted to CNY 236,384,606.60, representing 3.20% of total assets, up from 0.73% at the beginning of the year[134]. - Accounts receivable decreased to CNY 179,828,493.98, accounting for 2.43% of total assets, down from 3.18%[134]. - Inventory stood at CNY 3,458,443,989.04, making up 46.75% of total assets, a decrease of 1.61% compared to the previous year[134]. - Fixed assets increased to CNY 2,171,969,725.22, representing 29.36% of total assets, up from 28.78%[134]. - Short-term borrowings reached CNY 1,223,462,519.16, accounting for 16.54% of total assets, an increase from 16.02%[134]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of ¥2.0 per 10 shares, totaling approximately ¥230.51 million based on 1,152,535,254 shares[1]. - The company has not proposed any stock dividends, maintaining a focus on cash dividends only[1]. - The total number of ordinary shareholders at the end of the reporting period was 46,547, an increase from 46,089 at the end of the previous year[127]. - The largest shareholder, Shenzhen Food Material Group Co., Ltd., holds 63.79% of the shares, totaling 735,237,253 shares[127]. - The controlling shareholder, Shenzhen Agricultural and Food Investment Holding Group Co., Ltd., holds a 63.79% stake in the company[143]. Operational Strategy and Market Focus - The company has expanded its business scope to include modern grain supply chain services such as trading, processing, storage, and logistics[20]. - The company focused on enhancing product quality and operational efficiency to explore new growth points amid a sluggish market demand[42]. - The company aims to strengthen the grain supply chain and improve infrastructure to support high-quality development[39]. - The company is committed to building a smart grain and oil food supply chain service provider[39]. - The company plans to enhance market expansion capabilities by actively developing bulk trade and improving B and C-end marketing capabilities in 2024[169]. - The company aims to increase brand recognition and establish a strong brand image through systematic brand building efforts[170]. - The company will strengthen technological innovation by increasing investment in technology and collaborating with academic institutions and research organizations[170]. Risk Management and Compliance - The company has outlined potential risks and corresponding countermeasures in its future development outlook[1]. - The company has implemented measures to better coordinate development and safety in its operations[39]. - The company emphasizes the importance of food safety and compliance with regulations to ensure sustainable development[171]. - The company reported a significant focus on enhancing risk management and internal control systems to mitigate operational risks[170]. - The company has established internal controls to ensure the accuracy of financial reporting and compliance with applicable accounting standards[195]. Research and Development - Research and development expenses increased by 8.07% to ¥20,045,364.68 compared to the previous year[85]. - The company invested a total of 54,614,733.25 CNY in R&D in 2023, a decrease of 6.38% compared to 58,336,915.06 CNY in 2022[108]. - The R&D expenditure accounted for 0.88% of operating revenue in 2023, up from 0.70% in 2022, reflecting an increase of 0.18%[108]. - The number of R&D personnel increased by 5.88% to 144 in 2023, with the proportion of R&D personnel rising to 11.86%[106]. - The company completed several R&D projects, including the establishment of a grain and oil data management platform, enhancing data quality and governance[106]. Audit and Financial Controls - The company’s financial report has been audited and confirmed by a registered accounting firm, ensuring the accuracy of the financial data presented[6]. - The audit report does not cover other information outside the financial statements, and no significant misstatements were identified in the other information reviewed[194]. - The management is responsible for preparing financial statements in accordance with accounting standards and ensuring the absence of material misstatements due to fraud or error[195]. - The governance layer is tasked with overseeing the financial reporting process of the company[196]. - The company has assessed its ability to continue as a going concern and disclosed relevant matters in the financial statements[199].