证券代码：839729 证券简称：永顺生物 公告编号：2022-068 广东永顺生物制药股份有限公司 关于接待机构投资者调研情况的公告 | --- | --- | |------------------------------------------------------------------------|-------| | | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 | | | 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 | | | 带法律责任。 | | 广东永顺生物制药股份有限公司（以下简称"公司"）于 2022 年 9 月 27 日接待了 6 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 9 月 27 日 调研地点：广东永顺生物制药股份有限公司二楼会议室 调研形式：现场调研 调研机构：海通证券股份有限公司、海通期货股份有限公司、广东金羊基金 管理有限公司、广州市罗爵资产管理有限公司、广州中投立赢私募证券投资基金 管理有限公司、招商银行股份有限公司 上市公司接待人员：副总经理、董事会秘书吴子舟先生，财务 ...

Regulatory Approvals and Certifications - In February 2022, the company received production approval for two avian influenza vaccines, with approval numbers 190592368 and 190592369[3]. - The company has received a high-tech enterprise certificate valid for three years, allowing a reduced corporate income tax rate of 15% for the years 2020 to 2022[11]. - The company has obtained two new veterinary drug certificates for aquatic vaccines, but market recognition is lower than expected, leading to no revenue from these products yet[11]. - The company holds 22 authorized patents, including 13 invention patents, and has 18 vaccine products under research and development[10]. - The company has developed a new cell culture production technology for animal vaccines, which has received national patent authorization[31]. Financial Performance - The company's operating revenue for the current period is CNY 155,508,444.83, a decrease of 17.35% compared to CNY 188,160,457.30 in the same period last year[25]. - The net profit attributable to shareholders of the listed company is CNY 35,315,527.79, down 39.00% from CNY 57,890,814.02 in the previous year[25]. - The gross profit margin has decreased to 64.67% from 71.27% year-on-year[25]. - The basic earnings per share have dropped to 0.13 from 0.21, reflecting a decline of 38.10%[25]. - Non-recurring gains and losses impacted the net profit by RMB 6,999,400, representing 19.82% of the net profit for the period[10]. Revenue Sources and Distribution - The revenue from the distribution model accounted for 28.33% of the total operating income during the reporting period[10]. - Vaccine sales revenue was 150.60 million yuan, down 20.04 million yuan, or 11.74% year-on-year, mainly due to delays in government procurement caused by changes in avian influenza strains[41]. - Revenue from technology transfer was CNY 4,906,809.03, a significant drop of 71.90% year-on-year[60]. - The revenue from inactivated poultry vaccines fell by 24.72% to CNY 49,005,225.05, with a gross margin of 31.06%[57]. Operational Challenges and Risks - The company faces risks related to fluctuations in the livestock and poultry farming industry, which could affect vaccine demand and overall performance[9]. - The company faces risks related to the inability to recover accounts receivable on time, which could adversely affect operational performance[11]. - Environmental protection measures have increased operational costs, and failure to comply with national standards could harm the company's reputation and operations[11]. - The company is focusing on enhancing product quality and technical improvements, including the acquisition of an energy online monitoring system to reduce costs and improve efficiency[42]. Shareholder and Governance Information - The company has a total of 273,350,000 shares, with 80,244,567 shares (29.36%) being unrestricted and 193,105,433 shares (70.64%) being restricted[111]. - Major shareholders have signed commitments to avoid competition and reduce related party transactions, with these commitments being fulfilled during the reporting period[101][102]. - The company has no controlling shareholder or actual controller, ensuring independence in governance[133]. - The management team has committed to improving corporate governance structures, which is currently in progress[93]. Cash Flow and Investment - Operating cash flow decreased by 38.80% to ¥20,595,869.57, reflecting reduced operational efficiency[27]. - The company reported a net cash flow from operating activities of CNY 20,595,869.57, a decline of 38.80% from the previous year[63]. - The company has utilized CNY 8,785,773.95 of the raised funds for working capital, which is 99.99% of the planned amount[127]. - The total amount of raised funds that have been changed in purpose is CNY 0, indicating compliance with regulatory requirements[126]. Research and Development - The company invested 12.13 million yuan in R&D, accounting for 7.80% of operating revenue, and obtained 1 utility model patent and 2 clinical trial approvals for veterinary biological products[42]. - The company is focusing on enhancing its R&D management and collaboration with research institutions to reduce the uncertainty in new product development[78]. Market Position and Strategy - The company is designated as a key producer of high pathogenic avian influenza vaccines, with sales primarily through government procurement[9]. - The company plans to enhance its product line and sales channels to mitigate risks associated with fluctuations in the livestock breeding industry[71]. - The company aims to improve its market share by increasing development efforts with distributors and large-scale breeding customers[73]. Compliance and Legal Matters - There are no significant lawsuits or arbitration matters reported during the period, with a total claim amount of 4.98 million yuan, representing 0.75% of net assets[87]. - The company has no reported instances of shareholders or related parties occupying or transferring company funds or assets[88]. - The company has made provisions for bad debts according to established accounting policies, but risks remain if major clients face financial difficulties[82].

Financial Performance - Net profit attributable to shareholders for Q1 2022 was CNY 17,329,287.65, a decrease of 46.62% compared to CNY 32,464,384.86 in Q1 2021[18] - Operating revenue for Q1 2022 was CNY 78,677,625.48, down 25.46% from CNY 105,555,621.75 in the same period last year[18] - The company's cash flow from operating activities for Q1 2022 was CNY 156,921.63, a significant decline of 98.54% compared to CNY 10,747,970.03 in Q1 2021[18] - Operating revenue decreased by 25.46% year-on-year, resulting in an operating profit of 19,840,341.00, down 45.55%[22] - Net profit fell to 17,329,287.65, a decline of 46.62% compared to the previous year[22] - Net cash flow from operating activities dropped by 98.54%, amounting to 156,921.63, primarily due to a decrease in sales revenue[23] - The company reported a financial income of CNY 1,195,712.31 in Q1 2022, down from CNY 3,182,549.43 in Q1 2021, a decline of 62.5%[63] - The net profit for the first quarter of 2022 was CNY 17,322,251, a decrease of 46.5% compared to CNY 32,463,364 in the same period of 2021[68] - The operating profit for the first quarter of 2022 was CNY 19,833,124, down 45.5% from CNY 36,433,363 in the first quarter of 2021[68] - The total comprehensive income for the first quarter of 2022 was CNY 17,322,251, a decrease of 46.5% from CNY 32,463,365 in the first quarter of 2021[68] Assets and Liabilities - Total assets as of March 31, 2022, amounted to CNY 816,909,425.89, reflecting a 0.96% increase from CNY 809,181,608.59 at the end of the previous year[18] - The company's total liabilities to assets ratio was 11.53% as of March 31, 2022, down from 12.83% at the end of the previous year[18] - The total liabilities decreased to CNY 94,196,583.67 from CNY 103,796,628.70 during the same period[56] - The company's total equity increased to CNY 722,712,842.22 as of March 31, 2022, compared to CNY 705,384,979.89 at the end of 2021[56] - The total current assets as of March 31, 2022, amounted to CNY 558,995,324.61, an increase from CNY 547,385,566.32 as of December 31, 2021[54] - The company's fixed assets as of March 31, 2022, were valued at CNY 224,186,004.07, a slight decrease from CNY 230,352,331.89 at the end of 2021[55] Cash Flow - Net cash flow from investing activities was -7,969,673.22, a decrease of 121.24%, mainly due to the redemption of bank wealth management products in the previous year[23] - The investment activities generated a net cash flow of CNY -7,969,673 in the first quarter of 2022, compared to CNY 37,513,662 in the same period of 2021[71] - Cash inflow from operating activities totaled ¥61,793,189.43, a decrease of 32% from ¥90,754,811.00[74] - Cash outflow from operating activities amounted to ¥61,643,415.40, down 23% from ¥80,007,890.35[74] - Net cash flow from operating activities was ¥149,774.03, significantly lower than ¥10,746,920.65 in the previous period[74] - The ending balance of cash and cash equivalents was ¥199,917,514.25, a decrease from ¥440,010,362.03[74] Shareholder Information - The total share capital remains at 273,350,000, with 39.06% held by Guangdong Province and 19.71% by Guangdong Agricultural Science and Technology Investment Co., Ltd.[29] - The company has a total of 4,149 common shareholders[29] - The proportion of unrestricted shares is 29.36%, while restricted shares account for 70.64% of the total[29] - The total shareholding of major shareholders is 221,549,857 shares, representing 81.05% of the total shares[34] Commitments and Compliance - The company has committed to strictly adhering to all promises made during the public offering process, with no violations reported during the period[50] - The company has committed to fulfilling the dilution compensation measures, which have been adhered to without violation during the reporting period[48] - The company assures that the undistributed profits prior to the public offering will be shared among new and old shareholders according to their shareholding ratios, and this commitment has been maintained without breach[49] - The company has commitments in place to avoid related party transactions, which have been fulfilled without any violations during the reporting period[40] - The major shareholders have made commitments to avoid competition and have complied with these commitments during the reporting period[43] Challenges and Future Outlook - The company is facing challenges due to the downturn in the aquaculture industry and the impact of the COVID-19 pandemic[22] - Future strategies and product developments were not detailed in the provided content[22] Legal and Internal Control - There were no significant legal disputes or financial guarantees reported during the period[35] - The company’s internal control systems have been continuously improved, with no significant failures reported[42]

Company Achievements and Certifications - In 2021, the company successfully obtained the "High-tech Enterprise Certificate" from the Guangdong Provincial Department of Science and Technology, indicating its continued recognition as a high-tech enterprise[3]. - The company’s two flagship products, the pig fever live vaccine and the pig circovirus type 2 inactivated vaccine, were selected as 2020 Guangdong Province's high-quality high-tech products[3]. - The company was awarded the "Top 20 Agricultural Science and Technology Innovation Enterprises" in Guangdong Province during the 13th Five-Year Plan period[4]. - The company achieved compliance with the new veterinary drug GMP requirements and was granted the veterinary drug GMP certificate in June 2021[4]. - The company has obtained 21 authorized patents, including 13 invention patents, and is advancing multiple veterinary vaccine projects[12]. Financial Performance - The company's operating revenue for 2021 was CNY 363,525,642.57, representing a 9.30% increase compared to CNY 332,589,593.88 in 2020[28]. - The net profit attributable to shareholders for 2021 was CNY 91,342,217.51, which is a 13.86% increase from CNY 80,220,685.80 in 2020[28]. - The gross profit margin improved to 67.43% in 2021 from 65.78% in 2020[28]. - The company's cash flow from operating activities for 2021 was CNY 100,703,991.33, up 9.94% from CNY 91,596,129.70 in 2020[32]. - The company's total share capital at the end of 2021 was 273,350,000 shares, a 250.00% increase from 78,100,000 shares at the end of 2020[35]. Risks and Challenges - The company faces risks related to fluctuations in the livestock and poultry breeding industry, which can impact the demand for veterinary vaccines[11]. - The company’s main product, the highly pathogenic avian influenza inactivated vaccine, is subject to procurement policy changes by the government, which poses a risk to its operations[11]. - Risks include potential changes in government procurement policies and the need for timely product updates to maintain profitability[12]. - The company faces risks related to the sustainability of cooperative research and technology introduction partnerships[13]. - The company has a risk of product quality issues, which could impact its reputation and lead to potential penalties[127]. Research and Development - The company has multiple ongoing R&D projects, including vaccines that are in various stages of approval and registration[55]. - The company has developed 29 types of vaccines, including single, multi, and multi-combination vaccines, with a strong market presence in the pig vaccine sector[46]. - The company is currently developing multiple projects, including a vaccine for Mycoplasma pneumonia in pigs, which is in the new veterinary drug certificate approval stage[102]. - The company is focusing on improving its R&D capabilities to expedite the market introduction of new products[120]. - The application of genetic engineering technology in poultry vaccines has matured, leading to technological upgrades in the poultry vaccine sector[117]. Market and Sales Strategy - The company employs a "sales-driven production" model, adjusting production plans based on sales forecasts and market feedback[46]. - The sales strategy includes both government tender procurement and market-based sales, with differentiated approaches for small and large-scale customers[50]. - Vaccine sales revenue reached 345.07 million yuan, up 17.15 million yuan, or 5.23%, due to increased sales to major clients and overseas markets[54]. - The company plans to enhance its market layout and expand both domestic and international markets, particularly in poultry vaccines, to increase market share[122]. - The company is actively expanding its supplier base to ensure quality and cost-effectiveness, resulting in a decrease in the procurement proportion from the top five suppliers compared to the previous year[84]. Corporate Governance and Compliance - The company has committed to further improving corporate governance following its listing in November 2016[150]. - The company has made a commitment to ensure that its internal control systems are continuously improved, with no significant failures reported during the period[159]. - The company has engaged in related transactions with the Guangdong Academy of Agricultural Sciences, including a contract amount of CNY 5 million for R&D technical services, with CNY 2.5 million actually incurred[148]. - The company has committed to avoiding related party transactions and conflicts of interest, which are currently being fulfilled[149]. - The company has maintained compliance with commitments related to related party transactions, share lock-up, and reduction intentions during the reporting period[162]. Environmental Compliance - The company has a wastewater treatment capacity of 200 cubic meters per day, ensuring compliance with environmental protection measures[114]. - The company’s main pollutants include wastewater, waste gas, solid waste, and noise, with specific measures in place for their treatment and reduction[114]. - The company is actively working with third-party waste disposal agencies to ensure compliance with environmental regulations[115]. - The company is committed to complying with environmental regulations to avoid potential pollution incidents and associated costs[138]. - Environmental protection measures are in place, but failure to comply with increasing standards could negatively impact operations and reputation[13].