AGSW(SH:600199)2024-04-29 12:47Financial Performance - The company achieved operating revenue of 1,469.43 million yuan in 2023, representing a growth of 23.92% compared to 2022[12]. - The company achieved operating revenue of RMB 1,469.43 million, an increase of 23.92% compared to the same period last year[35]. - The company's operating revenue reached ¥1,469,427,360.13, an increase of 23.92% compared to the same period last year[36]. - Total operating revenue for 2023 reached ¥1,469,427,360.13, an increase of approximately 24% compared to ¥1,185,751,744.31 in 2022[98]. - The company's net profit margin decreased, with undistributed profits showing a loss of ¥319,365,237.72 compared to a loss of ¥197,555,221.82 in the previous year[96]. - The net profit attributable to the parent company was a loss of RMB 22.07 million, a reduction in loss of RMB 165.05 million compared to the previous year[35]. - The net profit for 2023 was reported at -¥19,708,944.65, an improvement from -¥186,087,528.75 in the previous year[104]. - The total profit for the year was ¥3,446,280.32, contrasting with a total loss of -¥166,374,736.41 in 2022[104]. - The total comprehensive income for 2023 was -¥19,708,944.65, compared to -¥185,337,528.75 in 2022, showing a positive trend[104]. - The total comprehensive income for the year 2023 decreased by ¥22,069,577.53, resulting in a net loss of ¥19,708,944.65[125]. Cost Management - The company implemented cost-saving measures in procurement, saving over 30 million yuan throughout the year[19]. - Operating costs were ¥876,903,867.28, showing a slight increase of 0.54% year-on-year[36]. - Total operating costs for 2023 were ¥1,473,903,190.69, up from ¥1,370,736,556.64 in 2022, reflecting a rise of about 7.5%[98]. - The total cost of white liquor was 502,476,096.77 RMB, accounting for 58.10% of total costs, an increase of 19.94% year-on-year[75]. - The gross profit margin for high-end liquor products was 76.36%, while the low-end liquor products saw an increase in gross margin by 15.00 percentage points[40]. - The gross profit margin for liquor sales was impacted, with direct material costs increasing by 19.05% year-on-year[75]. Research and Development - The company completed the production research of 7 new products, including Methylprednisolone Acetate Tablets, and registered 4 varieties, including Dihydrocodeine Injection[24]. - The company established the Jinzhongzi Fuhuo Fragrance Technology R&D Base and received the Anhui Province Science and Technology Achievement Certificate for key technologies in the industrialization of mixed solid-state fermentation[23]. - The company has established various R&D platforms, including a national-level laboratory and a provincial technology center, to enhance innovation capabilities[31]. - Research and development expenses amounted to 25,214,104.31 RMB, representing 1.72% of total operating revenue[80]. - Research and development expenses for 2023 were ¥25,214,104.31, slightly up from ¥24,874,322.14 in 2022[98]. - The company has a total of 129 R&D personnel, accounting for 5.83% of the total workforce[81]. Market Expansion and Sales - The company completed the channel layout in Anhui province and surrounding areas, with over 70% completion rate in surrounding regions and over 80% in key markets outside the province[20]. - The company plans to continue expanding its market presence and product offerings, focusing on enhancing operational efficiency through lean procurement strategies[39]. - The revenue from direct sales (including group purchases) was ¥38,162,958.21, with a significant increase of 72.99% year-on-year[41]. - Sales in the domestic market accounted for 79.58% of total revenue, with a significant increase in sales volume to 15,065.92 thousand liters[156]. - The company expanded its dealer network, increasing the number of dealers in the province by 96 and outside the province by 135[157]. - The company’s liquor sales volume reached 18,326.44 thousand liters, a decrease of 20.36% compared to the previous year[72]. Financial Position - The total assets at the end of the period amount to 3,476,257,231.71 RMB, an increase from 3,394,502,005.53 RMB in the previous period[92]. - The company's cash and cash equivalents are reported at 507,310,869.72 RMB, slightly down from 510,641,096.39 RMB in the previous period[90]. - The inventory stands at 1,467,431,309.01 RMB, up from 1,328,567,555.88 RMB in the previous period[90]. - The company's total liabilities have increased to 783,694,824.50 RMB from 673,251,827.63 RMB in the previous period[92]. - The total equity attributable to shareholders decreased to ¥2,519,131,868.12 from ¥2,545,029,038.17, a decline of about 1%[96]. - The company's total equity attributable to shareholders at the end of 2023 was ¥2,554,756,862.61, a decrease from ¥2,743,894,145.82 at the end of the previous year[134]. Operational Efficiency - The company has implemented a digital transformation, including ERP system upgrades and marketing digitalization, to enhance management efficiency[34]. - The company’s EHS management has improved safety management levels, with the subsidiary Jinri Biochemical Pharmaceutical Company recognized as an Anhui Province Environmental Integrity Enterprise[24]. - The company has reduced short-term borrowings to zero, a decrease of 100% from the previous period[84]. - The company reported a financial cost of -¥6,723,248.24, a decrease from -¥13,701,150.70 in the previous year, reflecting improved financial management[104]. Industry Trends - The total sales revenue for the national liquor industry in 2023 reached ¥756.3 billion, representing a year-on-year growth of 9.7%[144]. - The total profit for the liquor industry in 2023 was ¥232.8 billion, reflecting a year-on-year increase of 7.5%[144]. - The company experienced a decline in the total production volume of major liquor enterprises, which was 4,492,000 hectoliters, a decrease of 2.8% year-on-year[144].