海大集团(002311) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 reached ¥116.12 billion, an increase of 10.89% compared to ¥104.72 billion in 2022[31]. - The net profit attributable to shareholders for 2023 was ¥2.74 billion, a decrease of 7.31% from ¥2.95 billion in 2022[31]. - The net cash flow from operating activities increased by 86.25% to ¥12.70 billion, up from ¥6.82 billion in 2022[32]. - The basic earnings per share for 2023 was ¥1.66, down 7.26% from ¥1.79 in 2022[32]. - Total assets at the end of 2023 were ¥44.75 billion, a slight increase of 0.62% from ¥44.24 billion at the end of 2022[32]. - The net assets attributable to shareholders increased by 10.18% to ¥19.65 billion, compared to ¥17.82 billion at the end of 2022[32]. - The company reported a decrease in the weighted average return on net assets to 14.53% from 18.46% in the previous year[32]. - The company achieved operating revenue of 116.12 billion yuan, a year-on-year increase of 10.89%, while net profit attributable to shareholders decreased by 7.31% to 2.741 billion yuan due to losses in the aquaculture business[57]. - The company reported a non-recurring gain of CNY 199.76 million for the year, significantly higher than the previous year's CNY 74.02 million[40]. Production and Sales - The total production of industrial feed in China for 2023 was 32.16 million tons, representing a year-on-year growth of 6.6%[46]. - The production of pig feed reached 14.98 million tons, an increase of 10.1% compared to the previous year[46]. - The production of poultry feed was 12.79 million tons, growing by 5.4% year-on-year[46]. - The production of aquaculture feed decreased by 4.9% to 2.34 million tons[46]. - The company sold 24.4 million tons of feed, a year-on-year growth of 13%, with external sales reaching 22.6 million tons, an increase of 236,000 tons[58]. - The company’s feed sales for pigs reached 5.79 million tons, a year-on-year increase of 17%, supported by continuous R&D investment and the establishment of service teams[59]. - The company’s shrimp seed business generated approximately 1.3 billion yuan in revenue, with a growth rate of about 29%[59]. - The company’s overseas feed sales reached 1.71 million tons, a year-on-year increase of 24%, with profitability growing faster than sales[60]. Research and Development - The company invests significantly in R&D, focusing on animal nutrition, feed formulation technology, and health farming models, which enhances its ability to adjust feed formulations in response to raw material price fluctuations[9]. - The company has a research team of over 3,500 people, investing significantly in R&D across seven key areas, including animal genetics and nutrition[53]. - The R&D expenses increased by 10.35% to ¥784,880,414.03 in 2023, driven by an increase in R&D personnel and investment[81]. - The company's R&D investment increased by 12.91% in 2023, amounting to ¥803,082,298.63, representing 0.69% of total revenue[83]. Risk Management - The company has established a strict disease prevention system in its feed production process to address risks from animal diseases, ensuring a comprehensive range of feed products[7]. - The company is managing foreign exchange risks through careful selection of settlement currencies and utilizing financial instruments to hedge against currency fluctuations[12]. - The company faces risks from significant fluctuations in raw material prices, influenced by various global factors, which could impact feed and farming costs[8]. - The company has a well-defined procurement strategy that leverages futures and options to manage price risks effectively[51]. - The company has established a comprehensive management system for foreign exchange hedging, which complies with regulatory requirements and effectively mitigates risks[99]. Market Strategy and Expansion - The company plans to continue expanding its market presence and invest in new product development[31]. - The company is expanding its international market presence, particularly in Southeast Asia, Africa, and South America, leveraging its established "feed + seedlings + animal health" model[60]. - The company aims to enhance its core competitiveness by continuously optimizing its product offerings and adapting to market changes[50]. - The company is focusing on optimizing product and customer structures in response to market conditions[108]. Corporate Governance and Management - The company has maintained a high level of information disclosure, receiving the highest rating of A (Excellent) from the Shenzhen Stock Exchange for 13 consecutive years from 2010 to 2022[143]. - The company emphasizes investor relations management, utilizing various platforms to ensure investors' right to information[144]. - The company has a clear and independent asset relationship with its controlling shareholder, ensuring no non-operational occupation of assets[147]. - The company operates independently in personnel management, with no interference from the controlling shareholder in personnel appointments[147]. - The company has a complete and independent financial management system, with no interference from the controlling shareholder in financial decisions[147]. - The company has conducted multiple shareholder meetings, with participation rates ranging from 15.78% to 68.26% in 2023[150]. Employee and Talent Development - The total number of employees at the end of the reporting period was 38,804, with 2,408 in the parent company and 36,396 in major subsidiaries[184]. - The company has implemented a competitive salary system linked to company performance and individual contributions, ensuring sustainable growth[186]. - The online learning platform "Haiwei" offers over 8,000 courses with a total duration of nearly 7,000 hours, supporting a strong learning culture within the company[188]. - The company is focused on talent development through various programs, including the EDP Future Leaders Program and IDP Core Cadre Training Project[187]. Dividend and Profit Distribution - The company plans to distribute cash dividends of 5.00 CNY per 10 shares, with a total cash distribution amount not exceeding 4,758,596,084.81 CNY, which represents 30.22% of the net profit attributable to shareholders for 2023[193]. - The total cash dividend amount, including other methods, is 1,128,543,132.38 CNY, which accounts for 100% of the profit distribution total[191]. - The company has a profit distribution policy that ensures transparency and compliance with regulations, protecting the rights of minority shareholders[190]. - The company has established a three-year dividend return plan for 2022-2024, ensuring clear standards and ratios for profit distribution[191].