苏垦农发2023年度暨2024年季度业绩说明会

Summary of Conference Call Records Company Overview - The company, established in November 2011, operates as a large state-owned agricultural enterprise with a full industry chain covering concentrated planting, agricultural product processing, and social agricultural services. The company manages over 1.295 million acres of farmland across multiple cities in the province and was listed on the Shanghai Stock Exchange in May 2017 [1] Financial Performance - For the fiscal year 2023, the company reported total revenue of 12.168 billion yuan and a net profit attributable to shareholders of 816 million yuan. In the first quarter of 2024, revenue reached 2.336 billion yuan with a net profit of 189 million yuan [1] - The total grain and oil crop production for 2023 was 2.737 billion pounds, with a self-owned base grain yield of 2,481 pounds per acre [1] - As of the end of the first quarter of 2024, the company's total assets were 14.291 billion yuan, a decrease of 0.94% year-on-year, while net assets attributable to shareholders increased by 1.95% to 6.759 billion yuan [1] Production and Operational Highlights - Grain production reached a new high in 2023, with total production of 2.737 billion pounds and a self-owned base yield of 2,481 pounds per acre [1] - The company has focused on cost control and efficiency improvements through enhanced technology and management practices [1] - Implementation of a drone operation quality monitoring system to reduce production costs and improve sowing quality [1] - The company is actively responding to national carbon peak and carbon neutrality strategies, promoting agricultural emission reduction and carbon sequestration [1] Performance of Leading Enterprises - Dahuazhongye sold 600,000 tons of various crop seeds in 2023 and was recognized as a national crop seed revitalization enterprise by the Ministry of Agriculture and Rural Affairs [1] - Sukang Rice Industry processed 438,600 tons of rice and was awarded as an electronic enterprise in the rice industry chain by the provincial agricultural department [1] - Sukong Farmer achieved fertilizer sales exceeding 1 million tons, serving over 10,000 large households and covering over 10 million acres with social services [1] Project Development and Research - The company is advancing an integrated expansion strategy, providing full-process closed-loop services to large growers [2] - Successfully acquired quality assets from Jiangsu Longwei Grain and Oil Industrial Co., planning for asset upgrades [2] - Leading four major projects including national key R&D plans and establishing 22 agricultural technology projects [2] Internal Management and Safety Assurance - The company has established a compliance system and strictly implemented collective decision-making processes to enhance information disclosure and investor relations [2] - A robust risk control system has been developed, focusing on audits, inspections, and internal controls [2] - An ecological and environmental protection inspection team has been formed to ensure ongoing environmental protection efforts [2] Profit Distribution Plan - The profit distribution plan for 2023 includes a cash dividend of 3 yuan per 10 shares (tax included), totaling 413 million yuan, which accounts for 50.65% of the net profit attributable to shareholders [3] - Cumulatively, the company has distributed 2.21 billion yuan in cash dividends since its listing [3] 2024 Business Plan - The company aims for consolidated revenue of 14 billion yuan, total profit of 950 million yuan, and net profit of 900 million yuan in 2024 [3][5] - The focus will be on deepening long-term stability and expansion, enhancing industrial support, and transitioning from production increase to efficiency improvement [5] - The company plans to leverage investment opportunities during economic downturns through mergers, industry cultivation, and structural optimization [5] - Emphasis on green transformation and brand expansion, promoting clean agricultural production and sustainable resource utilization [5][6] Q&A Insights - Leading enterprises under the company have effectively navigated market challenges and met key economic targets for 2023 [4] - The company is making significant progress in project construction and research support, with a focus on providing comprehensive services to large growers [4] - Internal management measures include enhancing compliance, risk control, and safety assurance [4]