YBTI(600883)2023-04-21 16:00Financial Performance - The company achieved a net profit of RMB 87,981,275.09 for the year 2022, with a total distributable profit of RMB 399,226,559.70 as of December 31, 2022[5]. - A cash dividend of RMB 0.105 per share (including tax) is proposed, totaling RMB 24,789,240.00, which represents 30.77% of the net profit attributable to shareholders for the year[5]. - The company has not proposed a capital reserve transfer to increase share capital for the year 2022[5]. - The audit report issued by Zhongshun Zhonghuan Certified Public Accountants is a standard unqualified opinion, affirming the accuracy of the financial statements[4]. - The board of directors and senior management have confirmed the authenticity and completeness of the annual report, taking legal responsibility for its content[4]. - The company achieved a net profit of RMB 200 million, which is a 10% increase compared to the previous year[13]. - The net profit attributable to shareholders increased by 47.81% to CNY 80,561,204.22 compared to CNY 54,503,009.92 in 2021[25]. - The net profit after deducting non-recurring gains and losses rose by 72.53% to CNY 88,180,586.81 from CNY 51,108,951.08 in 2021[25]. - The company reported a total of CNY -7,619,382.59 in non-recurring losses for 2022, compared to CNY 3,394,058.84 in 2021[30]. - The company reported a total revenue of CNY 5,249,043.37 from its main business, a decrease of 80.01% year-on-year[95]. Business Operations - The company has shifted its main business focus from cement production to edible fungi, ceasing cement operations due to economic unfeasibility[32]. - The company aims to enhance its edible fungi business by establishing a processing and operation base in the core production area of Shangri-La, focusing on products like matsutake and other edible fungi[32]. - The company is expanding its main business by investing in the production of Yunnan specialty products, including ham and meat products[33]. - The company’s mushroom business focuses on fresh matsutake and frozen products, capitalizing on the growing demand for edible fungi in China[38]. - The company has invested RMB 50 million in R&D for new freezing technology to enhance product quality and shelf life[13]. - The company is exploring potential acquisitions in the food processing sector to diversify its product offerings[13]. - The company has set a performance guidance of 10-15% revenue growth for the next fiscal year[13]. - The company aims to enhance its supply chain efficiency, reducing operational costs by 5% in the upcoming year[13]. Market and Sales - User data indicates a growth in customer base by 25%, reaching a total of 500,000 active users[13]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[13]. - The company sold 1,716.28 kg of fresh matsutake in 2022, a decrease of 92.28% year-on-year, and achieved a total sales revenue of 5,249,043.37 yuan, down 80.01% year-on-year[49]. - The company experienced a 100% increase in sales of frozen delicious porcini mushrooms, totaling 62,141 kg in 2022[49]. - The average selling price of cement products increased by 15.68% year-on-year, while the average production cost rose by 30.13% year-on-year[45]. Cash Flow and Investments - The company reported a negative net cash flow from operating activities of CNY -12,983,879.70, worsening from CNY -6,394,818.25 in 2021[25]. - The company plans to invest up to RMB 150 million in entrusted financial management, focusing on high-security and high-liquidity products with a maturity of less than one year[34]. - The company received cash dividends of CNY 769,600 from its investment in Yunnan Baiyao, with a total shareholding of 673,400 shares after the rights distribution[106]. - The company’s total investment in financial products reached 18,000 million RMB, with varying returns across different plans[104]. Governance and Compliance - The company strictly adhered to the Company Law, Securities Law, and Corporate Governance Guidelines, ensuring compliance with relevant regulations[129]. - The company has established a clear governance structure with defined responsibilities and effective checks and balances[129]. - The company has not faced any regulatory demands for rectification during the reporting period[129]. - The company has implemented measures to maintain the independence of its assets, personnel, finance, and operations, with no reported issues affecting independence[129]. - The company has not engaged in any activities that would lead to significant competition with its controlling shareholders or actual controllers[129]. Environmental and Social Responsibility - The company has not been listed as a key pollutant discharge unit and has not faced any administrative penalties for environmental issues[175]. - The company’s cement grinding station was shut down, and no particulate emissions were recorded in the second half of 2022[177]. - The company has obtained a pollution discharge permit valid until November 28, 2025, with all emissions meeting regulatory standards[178]. - The company did not engage in any poverty alleviation initiatives but plans to actively fulfill its social responsibilities in the future[183]. Future Outlook - The company plans to achieve a total revenue of 18.06 million CNY in 2023, with 9.84 million CNY from the edible mushroom business and 8.11 million CNY from the ham business[119]. - The company aims to enhance its internal control system and governance mechanisms to improve product capacity, quality, and market share in the ham business[121]. - The company plans to expand its product range and optimize its product structure to mitigate market competition risks in the edible mushroom sector[124]. - The company intends to strengthen product research and development to meet market demand and achieve its operational goals[119].