贤丰控股(002141) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was ¥88,040,600.80, a decrease of 90.06% compared to ¥885,746,851.76 in 2022[21]. - The net profit attributable to shareholders for 2023 was -¥120,115,833.29, representing a decline of 151.72% from ¥232,296,378.74 in 2022[21]. - The net cash flow from operating activities was -¥52,224,007.16, a decrease of 349.87% compared to ¥20,900,600.38 in 2022[21]. - The total assets at the end of 2023 were ¥1,192,593,505.11, down 11.26% from ¥1,343,332,102.28 at the end of 2022[23]. - The net assets attributable to shareholders decreased by 10.03% to ¥1,031,077,872.65 in 2023 from ¥1,146,062,191.42 in 2022[23]. - The company reported a significant decline in the average asset-liability ratio of listed breeding companies to 62.28% as of Q3 2023, indicating financial stress in the industry[32]. - The company's total operating cost for 2023 was ¥51,399,399.88, a decrease of 93.57% from ¥799,824,788.78 in 2022[45]. - The company reported a significant decline in direct exports, which fell to ¥1,301,190.78, a decrease of 99.06% compared to ¥138,348,840.71 in the previous year[41]. - The company reported a loss of approximately CNY 14.80 million from projects in the new energy sector due to significant uncertainties[39]. - The company achieved a return of approximately CNY 20.41 million from prudent cash management and investment strategies during the reporting period[39]. Business Strategy and Focus - The main business focus has shifted to veterinary vaccines, following the strategic exit from the fine enameled wire business in Q3 2022[18]. - The main business focus remains on veterinary vaccines, particularly for pigs, with six core products and five professional services offered[33]. - The company is enhancing its R&D capabilities through collaborations with renowned institutions, focusing on various types of vaccines including inactivated and genetically engineered vaccines[33]. - The company has implemented a flexible procurement strategy to reduce costs while ensuring quality stability[33]. - The company is committed to a diversified strategy to enhance its risk resilience and balance its operational risks[39]. - The company aims to diversify its business and enhance its sustainable operational capabilities by exploring new growth points[73]. Internal Controls and Compliance - The company reported a significant issue with its subsidiary, Shiji Biological, involving improper revenue recognition, which led to a major defect in the internal control system of the financial report[3]. - The internal control system has been updated and improved, effectively preventing operational risks and ensuring the achievement of internal control objectives[113]. - The company has completed the correction of accounting errors caused by improper application of accounting policies by subsidiaries, which did not affect the annual financial report data[114]. - The internal control audit report issued a negative opinion, indicating that the company failed to maintain effective financial reporting internal controls as of December 31, 2023[118]. - The company’s management acknowledged that the identified defects represent clear violations of accounting standards and related disclosure regulations[120]. - The company’s management has developed corrective measures in response to the identified deficiencies in internal controls[120]. Shareholder and Governance - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[4]. - The company has a three-year shareholder return plan (2021-2023) but did not meet the conditions for profit distribution during the reporting period[109]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring no significant discrepancies with the requirements of the CSRC and Shenzhen Stock Exchange[80]. - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements for composition[81]. - The company has a diverse management team with backgrounds in finance, accounting, and corporate governance[91]. - The company has not proposed any cash dividend distribution plan for the reporting period, as the undistributed profits in the consolidated financial statements are negative[111]. Environmental Responsibility - The company has implemented effective pollution control measures, with no instances of exceeding emission standards reported throughout the year[123]. - The wastewater treatment facility has a capacity of 700 m³/d, ensuring compliance with discharge standards[124]. - The company has established an emergency response plan for environmental incidents, valid from July 2022 to July 2025[125]. - The company received no administrative penalties related to environmental issues during the reporting period[126]. - The company emphasizes its commitment to corporate social responsibility, focusing on environmental protection and stakeholder rights[128]. Market Conditions and Competition - The overall market for veterinary vaccines is facing intense competition due to a supply-demand imbalance in the pig farming industry[32]. - The company faced significant operational pressure due to a prolonged downturn in the pig farming industry, leading to intensified price competition in the veterinary vaccine sector, resulting in a decline in product gross margins[34]. - The company is facing significant market competition in the veterinary vaccine business, with pressures from low pig prices and rising breeding costs[76]. Research and Development - The company has established a comprehensive R&D platform with multiple specialized laboratories and has obtained 24 authorized patents, including 17 invention patents and 7 utility model patents[35]. - The number of R&D personnel increased by 7.32% to 44 in 2023, with a higher proportion of bachelor's degree holders[51]. - R&D investment as a percentage of operating income rose to 13.72% in 2023 from 6.68% in 2022[51]. Financial Management - The financial department operates independently, with a strict accounting system and independent bank accounts, ensuring no interference from the controlling shareholder[83]. - The company has entrusted 10 million yuan in bank wealth management products and 48.37 million yuan in broker wealth management products, with a total of 93.37 million yuan in entrusted wealth management[174]. - The company reported a total of 76,575.47 million yuan in entrusted financial management, with an actual income of 1,816.03 million yuan during the reporting period[176]. Related Party Transactions - The company has established a system to manage related transactions, ensuring they are conducted at fair market prices to protect shareholder interests[135]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[147]. - There were no violations regarding external guarantees during the reporting period[148].