Anjoy food(SH:603345)2024-04-26 10:38Dividend Distribution - The proposed cash dividend for the fiscal year 2023 is CNY 1.775 per share, totaling approximately CNY 518.74 million, which represents 53.17% of the audited net profit attributable to shareholders[5]. - The company distributed a cash dividend of CNY 0.755 per share for the first half of 2023, amounting to a total of CNY 221.44 million[5]. - The total amount of cash dividends for 2023 is expected to be CNY 785.88 million, including the share repurchase amount[5]. - The company repurchased 407,300 shares at a total cost of CNY 45.71 million during the year[5]. Financial Performance - The company achieved a revenue of CNY 14,045,234,826.03 in 2023, representing a year-on-year growth of 15.29%[20]. - The net profit attributable to shareholders reached CNY 1,478,066,338.58, marking a significant increase of 34.24% compared to the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 1,364,666,141.34, which is a 36.80% increase year-on-year[21]. - The net cash flow from operating activities was CNY 1,955,654,340.14, reflecting a growth of 38.97% compared to the previous year[22]. - Basic earnings per share increased by 29.56% to CNY 5.04, while diluted earnings per share rose by 30.23%[21]. - The company reported a weighted average return on equity of 12.10%, an increase of 1.38 percentage points from the previous year[21]. - The total assets at the end of 2023 amounted to CNY 17,300,427,961.51, up 7.17% from the previous year[20]. - The company's net assets attributable to shareholders were CNY 12,628,023,306.47, reflecting an 8.12% increase year-on-year[20]. Operational Efficiency - The company experienced steady growth in traditional frozen prepared foods and frozen noodle products, driven by improvements in product strength, channel strength, and brand strength[21]. - The reduction in promotional personnel and advertising expenses contributed to a decrease in period costs, enhancing profit margins during the reporting period[21]. - The company has established a strict supplier evaluation process, including qualification review and on-site assessments, to ensure the quality of raw material procurement[35]. - The company has implemented an EDI electronic exchange system to enhance production management efficiency and ensure product quality[40]. - The company has developed a strong technical innovation capability, launching multiple new products annually and collaborating with various research institutions[40]. - The company has established long-term partnerships with major restaurant chains and food companies, enhancing its market presence[38]. - The company is actively expanding its online sales channels and participating in major shopping festivals to boost brand awareness[39]. Market Trends and Strategy - The frozen food industry in China is expected to grow, with a current CR5 concentration of only 18%, indicating significant room for market consolidation[31]. - The company is focusing on three main business lines: frozen prepared foods, frozen noodle products, and frozen dishes, aiming to enhance market share and profitability[30]. - The company is adapting to market trends by optimizing its business model and expanding its product offerings to meet consumer demands for quality and convenience[31]. - The company aims to enhance its market share and profitability by optimizing product structure and increasing the proportion of mid-to-high-end products[93]. - The company has implemented a "BC dual focus, all-channel strategy," targeting both B2B and B2C channels to maximize efficiency[93]. Environmental and Social Responsibility - The company has committed to increasing R&D investment in areas such as deep processing of freshwater fish products and food safety detection platforms to ensure product safety and quality[96]. - The company has established emergency response plans for environmental incidents, which have been filed with local environmental authorities[152]. - The company employs both manual and automatic monitoring for environmental self-monitoring, with real-time data connections to local environmental bureaus[153]. - The company has received standard unqualified opinions in its internal control audit report[142]. - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 50% by 2025[165]. Governance and Compliance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the annual report[4]. - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[6]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has provided a standard unqualified audit report from the accounting firm[4]. - The governance structure includes specialized committees to enhance decision-making efficiency and compliance with legal requirements[98]. Shareholder Engagement - The company held four shareholder meetings during the reporting period, all resolutions were passed, and the procedures complied with legal requirements[102]. - The company’s 2022 annual report and financial statements were approved during the annual general meeting held on May 22, 2023[101]. - The company’s 2023 annual profit distribution plan was approved in the first extraordinary general meeting held on September 11, 2023[103]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to CNY 19.3661 million[114]. Future Outlook - The company anticipates a revenue growth of 10% in the next fiscal year, driven by new product launches and market expansion[106]. - The company plans to gradually launch a new 100,000-ton project in Sichuan by the second quarter of 2026, with completion expected by 2028[50]. - The company plans to implement a cautious and steady capacity expansion strategy, with several new storage systems set to be operational in 2024[95]. - The company is committed to enhancing its market presence through strategic expansions and technological advancements in its production capabilities[192].