Securities code: Pengdu Agriculture & Animal Husbandry Co.Ltd(002505) securities abbreviation: Pengdu Agriculture & Animal Husbandry Co.Ltd(002505) Announcement No.: 2022022 Pengdu Agriculture & Animal Husbandry Co.Ltd(002505) 2021 annual report summary
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
√ the plan is not applicable to the company’s share capital increase plan □ it is not applicable to the company’s share capital increase plan in the audit report □ it is not applicable to the company’s share capital increase plan, and it is not applicable to the company’s share capital transfer plan in the non audit report period. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Pengdu Agriculture & Animal Husbandry Co.Ltd(002505) stock code Pengdu Agriculture & Animal Husbandry Co.Ltd(002505)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Fu Rong, Zhou Lei
Office address: No. 25, Lane 2188, Hongqiao Road, Changning District, Shanghai
Fax 02152137175
Tel: 02162430519
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
As a listed agricultural and food company, the company focuses on integrating global high-quality agricultural and food resources, effectively connecting the Chinese market and the global market, and meeting the needs of consumption upgrading. During the reporting period, the company’s main businesses are agricultural materials and grain trade, beef cattle business, mutton sheep business and dairy industry. All sectors develop together, and strive to build a resource integrator and value-added service provider of global modern agriculture. The main business segments and processes of the company are as follows: (1) grain trade segment and business processes
Belagr í cola and fiagril are one of the largest sales platforms of agricultural means of production in Brazil. They have 57 and 12 retail stores respectively in Brazil to provide farmers with one-stop procurement schemes for agricultural means of production such as seeds, pesticides and chemical fertilizers. Due to the influence of historical factors, the Brazilian government has tightened the credit resources for agricultural producers. When farmers put into production, they often lack funds to buy agricultural means of production, and their financing capacity is relatively limited. Belagr í cola, fiagril and other large sellers of agricultural means of production in Brazil seize this market opportunity and take barter as the sales mode of agricultural means of production, that is, they sell agricultural means of production on credit to users in the sowing season, convert them into a certain amount of soybeans, corn, wheat and other grains according to the agreed price, and recycle them to farmers in the harvest season. The main business process is shown in the figure below:
September to November and January to March are the planting periods of Brazilian soybeans and corn, and February to March and June to July are the harvest periods of Brazilian soybeans and corn. At the beginning of Shenzhen Agricultural Products Group Co.Ltd(000061) planting, belagr í cola and fiagril companies deliver their distributed pesticides, seeds, fertilizers and other means of production to farmers by means of credit sales, and agree to calculate relevant interest according to the price of agricultural materials as the loan principal, convert it into a certain amount of grain for repayment in the harvest season, and set guarantees and mortgages based on the future harvest output of the cultivated land.
Benefiting from this model, on the one hand, belagr í cola and fiagril have established close cooperative relations with many international suppliers of agricultural means of production. First, they provide farmers with one-stop agricultural means of purchase solutions such as seeds, pesticides and fertilizers through a wide retail network; The second is to obtain the supplier’s price discount through large-scale procurement and cash payment, or negotiate the payment cycle with the supplier to minimize the demand for working capital. On the other hand, belagr í cola and fiagril combine agricultural materials distribution services with agricultural financial services to reduce the risk of recovery of accounts receivable and further improve the return on profits by locking in the output of future harvest seasons. At the same time, belagr í cola and fiagril used the collateral provided by farmers to apply for loans from the bank, so as to obtain lower cost funds and earn spread income. Therefore, belagr í cola and fiagril also assumed the credit risk of farmers’ default.
Every harvest season, barter transactions will be settled with the grain harvested by farmers according to the established contract, and there is no capital flow in the transaction process with farmers. Immediately, belagr í cola and fiagril sold the harvested grains to large grain traders or Chinese consumers in Brazil.
With the continuous deepening of the company’s development strategy, the company will rely on Brazil’s trade platform and cooperate with China’s high-quality agricultural materials suppliers to develop pesticide and chemical fertilizer trade, alleviate the current situation of overcapacity of China’s agricultural materials products, and bring high-quality soybeans and other bulk Shenzhen Agricultural Products Group Co.Ltd(000061) trade resources back to the Chinese market. In the future, the company will further participate in the expansion and layout of global agricultural resources. While consolidating the control of high-quality Shenzhen Agricultural Products Group Co.Ltd(000061) resources such as Brazilian soybeans, the company will continue to expand the control scale, so as to improve the profitability and international voice of the company’s grain trade business sector. (2) Beef cattle industry sector and business process
By legally introducing cross-border beef cattle resources and building a beef cattle industry chain in China, the company extends the business field of beef cattle industry to beef cattle breeding, slaughtering, processing and sales, improves industrial added value through industrial chain extension and optimization of product structure, and then seeks new growth points for the improvement of the company’s profitability.
① Beef cattle breeding and introduction process
② Beef cattle slaughtering process
The company will introduce world-class slaughtering lines and processing equipment, build a fully enclosed, pollution-free and constant temperature production workshop, process the production process in strict accordance with Islamic halal slaughtering methods, fully implement HACCP management system, ISO9001 quality system and ISO14001 environmental system, and adopt the most advanced acid removal and tenderization technology of beef post ripening process, In each process of slaughtering and processing, synchronous health and quarantine measures are adopted to optimize the beef quality, combined with the production standard operating procedures to ensure the all-round safety of production, quality and process, so as to provide consumers with truly healthy and high-quality beef products.
The slaughtering process of beef cattle of the company is divided into 11 processes: pre-mortem inspection, waiting for slaughter, stunning, assassination and bloodletting, peeling processing, synchronous health inspection, splitting in half, electrical stimulation, precooling, cooling and segmentation. The process flow chart is as follows: (3) mutton sheep industry and business process
After years of deep cultivation and development, the company’s mutton sheep business has formed a “closed-loop commercial operation mode” of self breeding, self breeding and balanced listing. At present, four large mutton sheep farms have been built in Woyang, Anhui Province. With Hu sheep as the leading variety, the company is committed to the development of standardized, large-scale and intensive mutton sheep breeding industry. It has become a standardized breeding demonstration farm of the Ministry of agriculture, a national demonstration farm of modern mutton sheep industrial technology system Participating units and demonstration enterprises of national key R & D plans.
Hu sheep is a famous local sheep in China. It is a national first-class protected livestock and poultry variety genetic resource. It has strong house feeding property. It is recognized as an excellent variety most suitable for factory house feeding in China. It has strong adaptability and fecundity and can widely adapt to various geographical environments and climatic conditions in China. The company’s mutton sheep breeding process is shown in the figure below:
(4) Dairy production sector and business process
The operation of New Zealand pasture presents two characteristics: one is based on grazing and grass feeding, and the other is based on modern agricultural technology. On the pasture, cows are mainly fed with forage, supplemented with some other feeds, including green storage and palm oil residue produced by the pasture. During the reporting period, the main raw materials purchased by New Zealand pastures were feed, chemical fertilizer and third-party grazing. In terms of raw milk production and management, the cows in the milking house are milked twice a day. The raw milk is filtered into the milk tank and stored at low temperature, which is collected by the processing plant every day. Raw milk is subject to strict inspection standards and food safety control management. Processing plants and third-party testing institutions take samples of raw milk every time. In terms of pasture milk source sales, Fonterra, as an agricultural cooperative held by dairy farmers, processes and processes raw milk, accounting for about 84% of the total output of New Zealand. It is the main purchaser of raw milk in New Zealand and the leader of raw milk prices in New Zealand. The dairy production flow chart is as follows: 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 13043089120541457821116813 – 10.53% 1317435894822
Net assets attributable to shareholders of listed companies 5 Suzhou Thvow Technology Co.Ltd(002564) 36408586080270975 – 14.64% 457143678595
20212020 year-on-year increase or decrease 2019
Operating income 14303703855411344635832018 6.38% 1348818095545
Net profit attributable to shareholders of the listed company was 11706733767% and 104062137%
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of 12041958669 -3494671333 444.58% – 3314648035
Net cash flow from operating activities -7055 Dongguan Kingsun Optoelectronic Co.Ltd(002638) 03625946772 – 204570% 15946071767
Basic earnings per share (yuan / share) 0.0184 0.0030513.33% 0.01
Diluted earnings per share (yuan / share) 0.0184 0.0030513.33% 0.01
Weighted average return on net assets 2.06% 0.34% 1.72% 1.35%
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 406138018030405301386324342445748020276485233167
Net profit attributable to shareholders of listed company 585732746819144835854972059483437325166
Deduction attributable to shareholders of listed companies is not subject to 547586439430232629792063077
