HAI TIAN(603288)2022-03-24 16:00Financial Performance - The company's operating revenue for 2021 was CNY 25.00 billion, representing a year-on-year increase of 9.71%[19]. - The net profit attributable to shareholders for 2021 was CNY 6.67 billion, up 4.18% from the previous year[19]. - The net assets attributable to shareholders increased to CNY 23.40 billion, reflecting a growth of 16.61% year-on-year[19]. - The overall net profit margin for the year was 26.68%, a decrease of 1.44 percentage points compared to the previous year[19]. - The basic earnings per share for 2021 was CNY 1.58, an increase of 3.95% year-on-year[14]. - The weighted average return on equity was 31.63%, a decrease of 4.50 percentage points compared to the previous year[14]. - The company reported a financial asset fair value increase of RMB 32,740.00 million for wealth management products[67]. - The company’s total comprehensive income for the year was ¥6,670,757,811.72, indicating strong profitability despite the challenges faced[184]. Dividend Distribution - The company plans to distribute cash dividends of 7.60 CNY per 10 shares (including tax) and issue 1 bonus share for every 10 shares held, totaling cash dividends of 3,201,557,889.20 CNY and 421,257,617 bonus shares[2]. - The cash dividend policy stipulates that the annual cash dividends should not be less than 20% of the distributable profits[108]. - In 2020, the company distributed cash dividends of 3,337,656,504.24 yuan, with a distribution of 10.3 yuan per 10 shares and 1 bonus share per 10 shares[112]. - The company paid out ¥3,337,656,504.24 in dividends, which is an increase of 14.4% from ¥2,916,398,887.20 in 2020[183]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[2]. - The audit opinion confirms that the financial statements of Foshan Haitian Flavoring & Food Co., Ltd. fairly reflect its financial position as of December 31, 2021, in accordance with Chinese accounting standards[159]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[97]. - The company has not reported any risks identified by the supervisory board during the reporting period, suggesting effective risk management[102]. Research and Development - R&D investment increased by 8.45% year-on-year, exceeding 772 million yuan, leading to significant breakthroughs in multiple technologies and the rapid launch of competitive new products[22]. - Research and development expenses rose to 771.92 million RMB, marking an 8.45% increase from the previous year[41]. - The company employed 599 R&D personnel, accounting for 8.97% of total staff[55]. - Future strategies include increasing investment in R&D for health-oriented products, such as low-salt and organic options[59]. Market Position and Sales - The company achieved a production and sales volume of 4.3 million tons, maintaining its leading position in the condiment industry, with soy sauce sales ranking first for 25 consecutive years[26]. - The company has expanded its sales network to cover all 31 provincial-level administrative regions in China, reaching over 2,000 county markets and exporting to more than 80 countries and regions[33]. - The company has established a sales model primarily based on distributors, ensuring strong cash flow and minimizing bad debts through a "payment before delivery" settlement method[31]. - The company maintained a dual growth in revenue and profit despite challenging external conditions, enhancing confidence for future development[25]. Operational Efficiency - The company implemented organizational changes to enhance operational efficiency and talent development, establishing multiple new business entities[25]. - The overall capacity utilization rate remains above 95%, ensuring stable market development and production efficiency[37]. - The company has a comprehensive budget and financial management system to control the income and expenditure of its subsidiaries[115]. - The company plans to continue strengthening lean management to improve overall operational efficiency and effectively control costs[50]. Environmental and Social Responsibility - The company donated nearly 16 million yuan for various charitable activities, including poverty alleviation and disaster relief, through the Kangze Foundation in 2021[125]. - The company implemented strict health and safety measures for employees during the pandemic, ensuring a solid foundation for orderly production[125]. - The company has developed an environmental risk assessment report, classifying its environmental risk level as general, and has established an emergency response plan for environmental incidents[122]. - The company has a 100% labor contract signing rate and a 100% social insurance payment rate, ensuring employee rights are fully respected[126]. Future Outlook - The company aims to strengthen its position in the condiment industry, focusing on quality and innovation to meet consumer demands[76]. - The company plans to leverage technological advancements to enhance product quality and safety, responding to intensified competition in the market[76]. - The company's revenue target for 2022 is set at 28 billion CNY, with a profit target of 7.47 billion CNY, acknowledging uncertainties in the operating environment[78]. - The company intends to leverage its existing resources to achieve breakthroughs in new businesses, including multi-product platforms and health industries[83].