Tianyu Ecology(SH:603717)2024-06-07 10:44Financial Performance - The company reported a total revenue of 1.5 billion RMB for the year 2022, representing a year-over-year increase of 10%[1]. - The company's operating revenue for 2022 was CNY 944.91 million, an increase of 48.09% compared to CNY 638.08 million in 2021[23]. - The net profit attributable to shareholders of the listed company for 2022 was CNY -312.19 million, compared to CNY -214.74 million in 2021[23]. - The cash flow from operating activities for 2022 was CNY 105.53 million, a significant improvement from CNY -223.32 million in 2021[23]. - The basic earnings per share for 2022 was CNY -1.0760, a decrease from CNY -0.8074 in 2021[24]. - The total assets at the end of 2022 were CNY 3.43 billion, an increase of 2.97% from CNY 3.33 billion at the end of 2021[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -389.12 million in 2022, compared to CNY -246.82 million in 2021[23]. - The company achieved a net asset of CNY 1.11 billion at the end of 2022, a decrease of 21.90% from CNY 1.42 billion at the end of 2021[23]. - The company recorded a non-recurring gain from the disposal of non-current assets amounting to CNY 68.15 million in 2022[29]. - The company reported a significant increase in the cost of pig farming, which amounted to CNY 388,832,956.41, a 782.23% increase from CNY 44,074,109.17 in the previous year[69]. User Growth and Market Expansion - User data indicates a growth in active users by 15%, reaching a total of 2 million users by the end of 2022[1]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2025[1]. - The company plans to expand its pig farming scale in 2023, utilizing various methods to enhance production capacity[104]. - The company is focusing on three main business segments: ecological environment, ecological agriculture and animal husbandry, and newly established photovoltaic new energy business[42]. Strategic Initiatives and Acquisitions - A strategic acquisition of a local competitor was completed, enhancing the company's service capabilities and expected to increase market penetration by 5%[1]. - The company plans to issue up to 53,375,196 A-shares, aiming to raise no more than RMB 340 million in funds[36]. - The company is actively pursuing partnerships to enhance its supply chain and distribution capabilities, aiming for a more robust market position[120]. - The company is focusing on expanding its market presence through strategic acquisitions and partnerships[128]. Research and Development - The company has invested 100 million RMB in R&D for new technologies aimed at improving operational efficiency[1]. - Research and development expenses for 2022 totaled CNY 26,382,402.84, representing 2.79% of operating revenue, with a 154.53% increase from CNY 10,365,091.13 in 2021[73][71]. - The company has developed a comprehensive ecological technology advantage, with 172 utility model patents and 3 invention patents in environmental governance and soil improvement[49][50]. Risk Management - The management highlighted potential risks including market volatility and regulatory changes that could impact future performance[1]. - The company faces risks related to economic fluctuations and high levels of receivables, which could impact project implementation[106]. - The company faces significant risks in its ecological farming business due to animal epidemics, which could lead to a decrease in the number of pigs sold and increased costs from vaccines and medications[108]. - Fluctuations in feed prices have been a major concern, with rising costs since 2020 potentially impacting the gross margin of the ecological farming business[108]. Corporate Governance - The company has implemented a governance structure in compliance with relevant laws, ensuring that shareholder rights are protected during meetings[111]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and maintaining independence in decision-making[111]. - The company has established a complete and reasonable corporate governance structure and internal control system, with no significant omissions or irregularities reported[153]. Sustainability and Social Responsibility - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by J% over the next five years[173]. - The company has committed a total of 3.6207 million yuan to poverty alleviation and rural revitalization projects since 2020[161]. - The company has not been subject to any administrative penalties due to environmental issues during the reporting period[156]. - The company invested 1.5 million yuan in environmental protection during the reporting period[155]. Financial Outlook and Guidance - The company has provided a performance guidance for 2023, expecting a revenue growth of 12% to 1.68 billion RMB[1]. - The company aims for cumulative net profit of no less than 450 million CNY over three years (2022-2024) or cumulative revenue of no less than 3.8 billion CNY during the same period[37]. - The company confirmed that its net profit for the fiscal year 2024 is projected to be RMB 900 million, with a cumulative net profit target of RMB 900 million for the years 2022, 2023, and 2024 combined[179].