FINANCIAL HIGHTLIGHTS
-- Revenue was approximately
-- Adjusted net profit attributable to the owners of the Company was approximately
-- Revenue from raw milk business increased by 36.4% year-on-year to
-- Revenue from comprehensive ruminant farming solutions increased by 21.3% year-on-year to
-- As of
In 2021, due to unfavorable factors such as the complex and volatile macro environment, high raw material prices and the recurrence of the COVID-19 pandemic,
The Group's business has covered the entire upstream dairy industry chain from raw milk business, feed business, breeding business to ruminant farming products business, each of which has secured a leading position in its own field. During the Reporting Period, revenue from raw milk business increased by 36.4% year-on-year to
During the year, against the backdrop of rising costs in the industry and declining gross profit, the Group's gross profit margin remained consistent with the same period last year, reaching 30.6%. The gross profit margin of the raw milk business was higher than the industry standard, reaching 41.4%; the management expense ratio dropped from 6.3% to 5.4%, and the sales expense ratio dropped from 3.8% to 3.6%, consolidating the Group's leading position in the industry.
Two-way breakthrough of self-construction and M&A of dairy farming industry promotes the improvement of operation efficiency and performance
At present, the Group operates 73 modern farms in 16 provinces, and 3 new farms were put into operation during the year. It is also expanding the scale of raw milk business and increasing newly built farms.
While building new production capacity, the Group continues to expand the industry scale through mergers and acquisitions. The Group completed the acquisition of 58.36% of the equity interests in
Feed synergy highlights the advantages of building stable performance
Feed business is one of the basis of the whole upstream industry chain model of
Product development and technological innovation with major breakthroughs consolidate leadership
With the increasing demand for raw milk in the market, the Group continues to launch specialty raw milk. At present, the Group's specialty raw milk includes Jersey milk, DHA milk, A2 milk, organic milk, organic A2 milk and selenium-rich milk. In 2021, the sales volume of unique raw milk of
In terms of the breeding business, during the year, the research results on cow new stem cells brought by SKX's research institute achieved breakthroughs in induction of livestock stem cells, a world-class research difficulty, and developed a new path for genome editing of herbivorous livestock and biological breeding of functional cows in the future, which is a milestone achievement in the research on stem cells of herbivorous livestock.
In terms of embryos and fetal bovine technology,
In addition, in 2021,
Lean production management ability leads the digitization of the industry and enhances the greater development of operation
The Group is the first dairy farming company in the world to adopt the TPM (Total Productive Maintenance) to establish a sustainable operation and lean production management model with industry characteristics. During the Reporting Period, three TPM pilot units of the Company won the TPM Excellence Award. TPM system, as one of our core strategies, will continuously expand its application to empower our operational capabilities to maintain our leading position in the industry.
The Group's operation efficiency was significantly enhanced through self-developed intelligent farm management system, TMR precise feeding system, monitoring system for estrus in dairy cattle and full coverage video surveillance system. Besides, the Group provides comprehensive farming solutions for dairy farms in a rapid manner through big data collection and analysis on customers' farming and with global expert resources and remote diagnosis, enhancing operational efficiency to achieve further improvement of results.
Strictly controlling product quality with excellent achievements in quality management and quality improvement
Now, the Group is the first comprehensive enterprise of dairy farming and feed processing in
During the Reporting Period, the Group achieved great achievements in quality management and quality improvement by establishing quality management information system, normalizing quality assurance control points (QACP) and introducing
Taking the lead in publishing "Carbon Neutralization Strategy" and insisting on green development
The Group took the lead in publishing and implementing the "Carbon Neutralization" strategy. In addition, the Group, together with the
The Group continues to put into practice the sustainable development strategy by taking advantage of the synergy between the Group's business segments of dairy farming and forage grass plantation, and build ancillary forage grass plantation bases nearby in dairy farms, so as to realize the long-term sustainable development of the business through an "integrated farming" model. We continued to promote the reduction, resource utilization, harmless and ecological treatment of manure in the process of dairy farming.
In order to achieve the strategic goal of recreating a "
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