Eternal Asia Supply Chain Management Ltd(002183)
Work report of the board of directors in 2021
Covid-19 epidemic continued to recur in the world in 2021. Under the correct leadership and deployment of the CPC Central Committee, the Chinese government maintained a good Chinese environment of dynamic zeroing, which provided a solid foundation for sustained economic development and global economic recovery. In 2021, under the influence of China's macro environment, the sales of China's fast-moving consumer goods decreased slightly in the third quarter, but the consumption fundamentals remained stable, and wine, food, personal care and small household appliances showed an overall growth trend. Data accumulation and technological progress have led to the rapid rise of new consumption in recent years, which has had a severe impact on the whole business environment. Various new business models emerge one after another. In the post epidemic era, consumers have unconsciously formed new consumption habits, stimulating sustainable new consumption momentum and new opportunities for brand marketing Eternal Asia Supply Chain Management Ltd(002183) after three years of business restructuring and reconstruction, the strategy of "building an integrated marketing service platform and brand Incubation Platform Based on the supply chain service system and FMCG deep distribution network system" has been realized.
1、 Operation of the company in 2021
As a leading enterprise in the field of China's consumer goods supply chain, the company has developed twenty-five channels, and has already had the full channel, full category, full link, and deep integration service capability in the consumer goods domain. Meanwhile, the customized brand operation business of Baijiu in the consumer product subdivision area has achieved notable results, and its own brand has also entered the market cultivation stage, and the company's status in the industry has steadily improved.
During the reporting period, the company achieved strong growth in performance through the structural adjustment of its business in the past three years. The total operating revenue was 70.252 billion yuan, an increase of 2.92% over the same period last year; The total annual profit was 539 million yuan, an increase of 438.13% over the same period last year; The net profit attributable to the parent company was 506 million yuan, an increase of 310.29% over the same period last year; The net profit attributable to the parent company after deducting non profits was 434 million yuan, an increase of 467.03% over the same period last year. Review of the company's key work during the reporting period:
1, Baijiu business a new force suddenly rises. Brand operation ability has been steadily improved.
A new force suddenly rises. Baijiu has been unexpected winner in the past three years. Eternal Asia Supply Chain Management Ltd(002183) has been creating the black horse of the sauce wine, Diaoyutai "treasure one" and Taiwan's "black gold ten years". In the second half of 2021, it added the "digest 12" of Jinsha liquor industry. At present, more and more brands believe in the brand operation ability of Eternal Asia Supply Chain Management Ltd(002183) and choose to unite with Eternal Asia Supply Chain Management Ltd(002183) strong, such as Danone, Inter Milan football club, Schneider of France, etc. the industries involved in brand operation have expanded from liquor to mother and child, daily chemicals, household appliances and other industries. Entering the Expo in November 2021, Eternal Asia Supply Chain Management Ltd(002183) signed a strategic cooperation of 7.96 billion yuan with the brand, which became the special event with the largest amount of contract signed by the Shenzhen Trading Group of this exhibition.
During the reporting period, the company's brand operation realized an operating revenue of 3.519 billion yuan, a year-on-year increase of 70.38%, and a comprehensive gross profit of 640 million yuan, a year-on-year increase of 71.38%.
During the reporting period, the company's liquor brand operation business achieved a revenue of 1.245 billion yuan, a year-on-year increase of 43.10%, and a comprehensive gross profit of 400 million yuan, a year-on-year increase of 41.81%.
Sauce wine has its own brand appearance, further enriching and optimizing the structure of Baijiu liquor products to meet the diversified needs of consumers.
After the success of Baijiu brand operation, the company has made new progress in Baijiu field, and began to build its own brand name product matrix in 2021. Combined with consumption trends and industry research, seize the trend of national tide, and jointly create a characteristic IP sauce and wine product with prosperous Tang culture - "Datang secret made" with "Datang never night city". In the Maotai Town Baijiu core production area, the top five of the production capacity is located at the base liquor distillery. The "Datang liquor industry", which is adjacent to the "Guotai liquor industry" and the annual capacity exceeds 5000 tons, controls liquor quality from the source. In terms of product image, grasp the psychology of consumers, combine different scenes such as medium and high-end consumption and business banquets, and create three products of "golden bottle", "golden seal" and "Golden Top" respectively in circles; The price band covers the range of Tianjin Jingwei Huikai Optoelectronic Co.Ltd(300120) 0; In the cultural core, "wine" is bound with elements such as Jiuxian "Li Bai" and "song of eternal regret", so as to shape the cultural core of the brand and focus on differentiation; In terms of channel marketing, combine offline traditional distribution channels with online emerging traffic channels, promote synchronously through multiple channels, and attract users and enhance brand awareness by means of immersive tasting and super tourism IP. From liquor to promotion, the refined management of the whole chain and the activity plan that can be implemented have proved the ability of Eternal Asia Supply Chain Management Ltd(002183) brand incubation to the market.
The Baijiu price belt has been covered from 300 yuan to 3000 yuan.
During the reporting period, the distribution of operating revenue of each industry of brand operation business is as follows:
Unit: 10000 yuan
Year on year increase and decrease of the industry in 2021 and 2020
Gross profit of revenue gross profit of revenue gross profit of revenue
Wine drinking 12449559399885187001722819805 43.10% 41.81%
Textile and garment 49661108165802684944348350 84.96% 134.41%
Mother and baby 7172648828573 677.67 83.071048428% 987440%
It communication 98395455673649010750503135 9.20% 12.77%
Others 766995192188192494 569.69 298.45% 237.36%
Total: 351948576403556206561273736566 70.38% 71.38%
3. Distribution + marketing
During the reporting period, the company's total operating revenue from distribution + marketing was 65.162 billion yuan, a year-on-year decrease of 0.42%. In terms of distribution + marketing, the company focuses on supply chain services to continuously expand the distribution + marketing business of FMCG. At the same time, it integrates the upstream and downstream enterprises of FMCG industry of local governments to help them develop in-depth in mother and child, daily chemicals, wine, food, household appliances and other industries.
During the reporting period, the distribution of distribution + marketing business revenue by industry is as follows:
Unit: 10000 yuan
Year on year increase and decrease of distribution industry in 2021 and 2020
Revenue revenue
Wine 4200364955006370 - 23.64%
Household appliances 157473601161687684 - 2.61%
Mother and baby 129762492130205904 - 0.34%
It communication 137067445124621172 9.99%
Daily chemical 6710899169071428 - 2.84%
Medical 74169546032912 22.94%
Industrial raw materials 6241064952202979 19.55%
Food 3640851650421537 - 27.79%
Others 119709315150396 132.43%
Total: 651623228654400382 -0.42%
4. The supply chain integrated services have expanded steadily, and the government enterprise cooperation model has achieved remarkable results.
Under the guidance of the national macro strategy, the company continues to work with local governments and state-owned enterprises to establish joint ventures to provide professional supply chain services. By the end of 2021, more than 30 joint ventures have been established and more than 70 comprehensive business cooperation agreements have been signed, covering 56 cities; More than 60 industry divisions have been developed, involving high-quality industries such as it electronics, industrial raw materials, new energy, people's livelihood and consumption.
The industrial supply chain platform of " Eternal Asia Supply Chain Management Ltd(002183) model" has been successively verified in Nanning, Hezhou, Jinan and other cities. With the cooperation of the operation team, some joint ventures have achieved remarkable industrial upgrading results, such as Xinggang Eternal Asia Supply Chain Management Ltd(002183) annual performance exceeding 4 billion. On the other hand, in combination with the policy direction, continue to expand the " Eternal Asia Supply Chain Management Ltd(002183) model" to the Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) chain. For example, in one context of "one belt, one road", we should pay close attention to the dominant industries along the route and sign strategic agreements with Sichuan port and shipping investment group. Through the embedded supply chain service, we can run through the whole industry chain and build an industrial mode based on multimodal transport, industrial agglomeration, resource sharing and allocation optimization.
5. We optimized the capital structure and steadily reduced the asset liability ratio
This year, the company adheres to the platform operation mode of "zero inventory", and reduces the company's debt ratio through capital return and capital operation. At the same time, by stripping the joint venture with inefficient working capital of 380 platforms in the past, the operation risk is reduced and the financing environment is optimized.
According to the reply on approving Eternal Asia Supply Chain Management Ltd(002183) non-public Development Bank shares (zjxk [2021] No. 932) issued by China Securities Regulatory Commission, the company issued 474311272 RMB ordinary shares to specific objects, raising a total of 222451986568 yuan, which was listed on Shenzhen Stock Exchange on July 27, 2021. After the issuance, the total share capital of the company increased from 2122697819 shares to 2597009091 shares.
The funds raised by fixed growth will help to improve the company's cash flow, reduce liabilities and continue to improve the company's digital supply chain system of consumer goods.
During the reporting period, the company's interest expense decreased by 170 million yuan, and the asset liability ratio decreased by 4.41%; Roe was 7.12%, increased by 5.05%; The operating cash flow was 1.589 billion yuan, a decrease of 24.24% over the same period.
6. Equity incentive landing, highlighting the confidence of the company's management
In order to further establish and improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's directors, senior managers, middle and senior managers and core backbone personnel, as well as other personnel deemed necessary by the board of directors. Effectively combine the interests of shareholders, the company and the personal interests of managers, so that all parties can pay common attention to the long-term development of the company. On the premise of fully protecting the interests of shareholders, the company launched the 2022 stock option incentive plan (Draft) in accordance with the provisions of relevant laws, regulations and normative documents. The details are as follows:
(1) The company held the 60th meeting of the 6th board of directors and the 44th meeting of the 6th board of supervisors on February 23, 2022, The proposal on the company's 2022 stock option incentive plan (Draft) and its summary, the proposal on the management measures for the implementation and assessment of the company's 2022 stock option incentive plan, and the proposal on submitting the general meeting of shareholders to authorize the board of directors to handle matters related to the company's 2022 stock option incentive plan were reviewed and approved, and the second extraordinary general meeting of shareholders of the company in 2022 was held on March 14, 2022, Deliberated and passed relevant proposals such as stock option incentive plan.
(2) The company held the 62nd meeting of the 6th board of directors and the 46th meeting of the 6th board of supervisors on March 23, 2022, deliberated and adopted the proposal on adjusting matters related to the 2022 stock option incentive plan and the proposal on granting stock options to incentive objects of the 2022 stock option incentive plan, and confirmed that March 23, 2022 was the authorization date, Grant 77.91 million stock options to 181 eligible incentive objects at the price of 5.49 yuan / share.
7. Continuous improvement of digital capability and gradual expansion of online business
In 2021, the results of online transformation will initially appear. Yitong digital division, a wholly-owned subsidiary of the group, built Eternal Asia Supply Chain Management Ltd(002183) benchmark electric store and live broadcasting room by establishing e-commerce and live broadcasting teams, integrating the online channel resources of the whole group, and helped the online operation of national generation brands. The annual Gmv exceeded 10 billion yuan. At the joint venture level, some transformation benchmarking enterprises have also been revealed one after another. For example, Beijing Yitong Yongsheng actively laid out the e-commerce platform and built more than 40 online stores to gather Feihe and Xi'an
