Workflow
盖世食品(836826) - 2023 Q4 - 年度财报
Gaishi FoodGaishi Food(BJ:836826)2024-04-19 18:40

Financial Performance - The company's revenue for 2023 reached approximately RMB 489.94 million, representing a year-over-year increase of 34.75% compared to RMB 363.59 million in 2022[29]. - The net profit attributable to shareholders for 2023 was approximately RMB 34.87 million, an increase of 8.09% from RMB 32.26 million in 2022[29]. - The gross profit margin improved to 19.28% in 2023, up from 17.57% in 2022[29]. - The company's cash flow from operating activities showed a significant improvement, with a net cash flow of approximately RMB 144.76 million in 2023, compared to a negative RMB 32.75 million in 2022, marking a 542.07% increase[30]. - The company's total liabilities at the end of 2023 were approximately RMB 134.08 million, a slight increase of 1.48% from RMB 132.12 million in 2022[30]. - The weighted average return on equity for 2023 was 11.02%, down from 13.27% in 2022[29]. - The company reported a basic earnings per share of RMB 0.30 for 2023, a decrease of 16.67% from RMB 0.36 in 2022[29]. - The company's operating revenue for Q1 was CNY 96,456,344.74, and it increased to CNY 133,611,121.29 in Q3, showing a growth trend[34]. - The net profit attributable to shareholders was negative CNY 5,000,119.96 in Q1, but turned positive to CNY 17,363,489.54 in Q3, indicating a significant recovery[34]. Shareholder Returns - A cash dividend of 1.5 RMB per 10 shares was distributed, totaling 14,675,198.40 RMB, along with a capital reserve increase of 2 shares for every 10 shares held, amounting to 19,566,931 shares[4]. - The company approved a share repurchase plan on April 21, 2023, to incentivize employees and support long-term strategic goals[4]. - The company plans to repurchase shares with a total fund of no less than 10.84 million and no more than 21.27 million, expecting to buy back between 1.3 million to 2.55 million shares, representing 1.33%-2.61% of the total share capital[137]. - As of December 31, 2023, the company has repurchased 1,830,450 shares, accounting for 1.56% of the total share capital, and 58.73% of the expected maximum repurchase quantity, with a total payment of 10,997,844.45, which is 51.71% of the maximum repurchase fund[138]. Operational Developments - The company completed its annual production project of 15,000 tons of prepared cold dishes and the construction of a research and testing center[5]. - The company launched a new production capacity project with an annual output of 15,000 tons of standardized cold dishes, which has started contributing to growth[45]. - The company is developing new products to meet diverse consumer demands, although some are still in the cultivation phase with limited market impact[12]. - The company has implemented strategies to mitigate risks from raw material price fluctuations, which significantly impact product costs[13]. - The company has implemented systematic control over product quality and safety, enhancing detection capabilities with upgraded equipment[45]. Market and Industry Trends - Export sales accounted for 49.33% of the company's main business revenue in 2023, down from 53.81% in 2022[12]. - The restaurant industry in China saw a revenue recovery in 2023, reaching 5.29 trillion yuan, a year-on-year increase of 20.37%[47]. - The overall retail sales of consumer goods in China reached 47.15 trillion yuan in 2023, with a year-on-year growth of 7.2%[48]. - The chain restaurant rate in China increased from 12.8% in 2018 to 19.0% in 2022, indicating significant growth potential in the future[49]. - The use of pre-prepared dishes in restaurants reduced labor costs from 22% to 12% and increased net profit margins from 20% to 27%[49]. Research and Development - The company holds 35 patents as of December 31, 2023, including 6 invention patents and 29 utility model patents, showcasing its R&D capabilities[42]. - The company applied for a provincial science and technology innovation award and one invention patent during the reporting period, enhancing its R&D capabilities[46]. - The company is focusing on research and development of new processing technologies to improve nutritional content and flavor in its products[96]. - The company has implemented a multi-level quality management system, including ISO9001:2015 certification and HACCP certification, to ensure product quality and safety[119]. Financial Management - The company has established measures to strengthen inventory management and procurement controls in response to raw material price volatility[123]. - The company plans to strengthen financial management to ensure cost reduction and efficiency improvements, enhancing overall financial performance[116]. - The company has not reported any significant changes in major risks during the current period[122]. - The company has maintained a consistent internal control system to manage inventory valuation and impairment risks effectively[100]. Corporate Governance - The company has established a mechanism to protect shareholder rights and ensure equal rights[195]. - The company has implemented a new governance structure to ensure compliance with laws and regulations, enhancing internal control mechanisms[194]. - The company held five board meetings during the reporting period, discussing significant matters including the application for comprehensive credit limits and guarantees from banks for the year 2023[199]. - The board approved the proposal for the 2022 annual report and its summary, as well as the financial settlement report for the same year[200]. Employee and Organizational Changes - The total number of employees increased from 344 to 434, reflecting a growth of 26.23%[186]. - The number of technical staff rose from 33 to 46, marking a 39.39% increase[186]. - The company appointed a new independent director, Xu Xueming, and a new chairman of the supervisory board, Wang Xiaohua[179]. - The company established a systematic training program to enhance industry competitiveness and employee capabilities[188].