Hiroad(SZ:300915)2024-04-23 11:32Financial Performance - The company's operating revenue for 2023 was approximately ¥954.57 million, representing a 9.95% increase compared to ¥868.16 million in 2022[21]. - The net profit attributable to shareholders for 2023 was approximately ¥89.51 million, a decrease of 4.07% from ¥93.31 million in 2022[21]. - The net cash flow from operating activities increased significantly by 117.89% to approximately ¥120.87 million, compared to ¥55.47 million in 2022[21]. - The basic earnings per share for 2023 was ¥0.9946, down 4.07% from ¥1.0368 in 2022[21]. - Total assets at the end of 2023 were approximately ¥1.77 billion, reflecting a 2.84% increase from ¥1.72 billion at the end of 2022[21]. - The company's weighted average return on equity for 2023 was 6.06%, a decrease of 0.50% from 6.56% in 2022[21]. - The gross profit margin improved to 35.07% in 2023, up from 32.98% in 2022, indicating enhanced profitability[54]. - The revenue from the cream segment was CNY 86,702.15 million, with a year-on-year growth of 8.54% and a gross margin of 36.40%[53]. - The chocolate segment generated CNY 3,019.06 million in revenue, reflecting a 4.96% increase year-on-year[53]. - The company reported a total revenue of 65,256,000 in the fiscal year 2023, showing a significant increase compared to the previous year[145]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥4 per 10 shares to all shareholders, based on a total share capital of 89,885,000 shares[4]. - The cash dividend distribution plan includes a payout of ¥4 per 10 shares, totaling ¥35,954,000, which represents 100% of the profit distribution amount[171]. - The company has a total of 89,885,000 shares for the dividend distribution, with no stock dividends or capital reserve transfers planned[172]. - The company reported a cumulative undistributed profit of ¥409,254,842.58 as of December 31, 2023[172]. Market Expansion and Product Development - The company is constructing a future food industrial park with a total area of over 90,000 square meters, which will significantly enhance production capacity, including an additional 80,000 tons for baking and tea drinks[42]. - The company accelerated its international expansion by establishing sales subsidiaries in the Philippines, Turkey, and Malaysia, while also enhancing its presence in markets like Russia and India[43]. - The company launched new products in the "cream family," including the恋乳澳浓 and恋乳轻脂稀奶油, enhancing its product line and providing reliable domestic cream options[37]. - The company introduced a new product line featuring plant-based and zero-trans-fat cream products, catering to the growing demand for healthier options in the food service sector[39]. - The company plans to launch a new production line in its Guangdong factory, with a designed capacity of 60,000 tons, set to commence operations in Q1 2024[42]. - The company is focusing on developing personalized products and services for the tea and food service sectors, with four major product series established[38]. - The company aims to enhance brand visibility through participation in major industry exhibitions and innovative marketing strategies, including collaborations with KOLs on social media[40]. Research and Development - The company holds 63 patents, including 44 invention patents, and has received multiple awards for innovation[33]. - The company is leveraging its 20 years of R&D experience to meet differentiated market demands and enhance customer engagement[38]. - Research and development expenses were CNY 31,125,677.03, showing a slight decrease of 0.32% compared to the previous year[80]. - The company is investing in new technology development, allocating 100 million RMB for R&D in the upcoming year[129]. Governance and Management - The company has established a robust internal control system, with no significant deficiencies identified in financial reporting[173]. - The company has a strong management team with diverse backgrounds in food science and business management, contributing to its strategic direction[146]. - The board of directors consists of 6 members, including 2 independent directors, ensuring diverse and effective governance[128]. - The company has established a complete and independent business system, ensuring no asset or financial intermingling with the actual controller or other enterprises[134]. - The company has a fully independent financial department with a standardized accounting system, ensuring no shared bank accounts with the actual controller[136]. Risks and Challenges - The company has outlined potential risks in its future development outlook, urging investors to be aware of investment risks[3]. - The company faces risks related to food safety, including potential issues in raw material procurement and production processes that could impact product quality[113]. - Fluctuations in raw material prices pose a significant risk, as the costs of key ingredients account for a large portion of the company's production expenses[114]. - The company relies on distributors for sales, and poor management of these relationships could negatively affect brand reputation and sales performance[115]. Investor Relations and Communication - The earnings call highlighted the company's strategic layout and performance summary for the year 2023[121]. - The company reported a significant increase in investor engagement through various communication channels[121]. - The document indicates that the company is actively monitoring market trends to adapt its strategies accordingly[121]. - The earnings call served as a platform for the company to reinforce its commitment to transparency and investor relations[121]. Employee Engagement and Benefits - The company has provided various employee benefits, including social insurance, paid leave, and commercial insurance, enhancing employee stability and sense of belonging[167]. - The total remuneration paid to directors, supervisors, and senior management in 2023 amounted to 10.75 million yuan[155]. - The company conducted a satisfaction survey post-training, achieving a training satisfaction rate of 94% among participants[168]. Sustainability and Social Responsibility - The company emphasized its commitment to environmental protection, adhering to national regulations and promoting green practices[181]. - The company actively engages in social responsibility, improving corporate governance and protecting shareholder rights[182]. - The management emphasized the importance of sustainability initiatives, targeting a 30% reduction in carbon emissions by 2025[189].