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双成药业(002693) - 2017 Q2 - 季度财报
2017-08-27 16:00
Financial Performance - The company's operating revenue for the first half of 2017 was CNY 76,431,949.55, representing a 39.16% increase compared to CNY 54,924,789.21 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of CNY 17,541,015.01, an improvement of 11.35% from a loss of CNY 19,787,022.19 in the previous year[16]. - The net cash flow from operating activities was a negative CNY 92,392,842.49, a significant decline of 2,483.19% compared to a positive CNY 3,876,853.16 in the same period last year[16]. - The basic and diluted earnings per share were both CNY -0.04, showing a 20.00% improvement from CNY -0.05 in the same period last year[16]. - The company reported a net profit of 5.27 million yuan, which was reduced by interest expenses of 5.27 million yuan from related party borrowings[73]. - The company reported a net loss for the first half of 2017 was CNY 18,241,761.14, slightly improved from a net loss of CNY 19,787,022.19 in the same period of 2016[128]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,359,921,112.22, an increase of 16.68% from CNY 1,165,528,072.32 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company increased by 2.27% to CNY 565,697,350.98 from CNY 553,127,627.51 at the end of the previous year[16]. - The company's cash balance at the end of the reporting period was CNY 61.38 million, an increase of 145.74% compared to the beginning of the period, primarily due to capital injection from the controlling shareholder[26]. - Accounts receivable at the end of the reporting period amounted to CNY 38.67 million, reflecting a 48.36% increase from the beginning of the period, attributed to adjustments in the company's marketing model[26]. - Inventory at the end of the reporting period reached CNY 149.63 million, a significant increase of 337.05% compared to the beginning of the period, mainly due to increased purchases of imported drugs by the wholly-owned subsidiary[26]. - The company's total liabilities increased to CNY 407,395,040.96 from CNY 365,555,023.31, reflecting a growth of approximately 11%[125]. Cash Flow - The company's cash flow from financing activities increased significantly by 3,303.73% to ¥105,742,322.01, driven by loans from the controlling shareholder and investments in Ningbo Shuangcheng[33]. - The total cash inflow from financing activities was CNY 420,000,000.00, compared to CNY 226,000,000.00 in the previous period, indicating a 85.9% increase[137]. - The ending balance of cash and cash equivalents was 7,237,763.57 yuan, down from 32,198,218.77 yuan at the end of the previous period[140]. Research and Development - The company has developed three chemical synthetic peptide drugs, with 19 products included in the national medical insurance directory and 4 in the National Essential Medicines List[23]. - The company has a strong R&D team, including nearly 10 PhDs from the U.S., focusing on expanding product variety and adapting to international development needs[27]. - R&D investment decreased by 40.34% to ¥9,492,060.70, attributed to fewer ongoing projects compared to the previous year[33]. Risks and Challenges - The company faces various risks including industry policy changes, rising raw material prices, and product quality risks[4]. - The company is facing risks from rising raw material prices and regulatory changes in the pharmaceutical industry, which may impact production and sales[54]. - The company emphasizes strict quality control in drug production to mitigate risks related to drug safety and compliance with regulations[58]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held several shareholder meetings during the reporting period, with participation rates ranging from 51.00% to 53.40%[60]. - The company did not experience any major litigation or arbitration matters during the reporting period[67]. Investments and Acquisitions - The company transferred ownership of drug development agreements for projects S001 and S003 to its affiliate Ningbo Shouzheng Pharmaceutical Research Co., Ltd. for a transaction amount of $1.078 million[74]. - The controlling shareholder, Hainan Shuangcheng Investment Co., Ltd., increased its investment in the wholly-owned subsidiary Ningbo Shuangcheng Pharmaceutical Co., Ltd. by 200 million RMB, resulting in a 48.81% ownership stake[74]. - The company established a wholly-owned subsidiary, Shuangcheng Pharmaceutical Europe Co., Ltd., in Italy with a registered capital of 10,000 Euros[91]. Financial Reporting and Compliance - The report indicates that there are no significant differences between the financial reports prepared under international accounting standards and Chinese accounting standards[17]. - The half-year financial report was not audited[65]. - The company's financial statements are prepared based on the going concern assumption, indicating no significant doubts about its ability to continue operations for the next 12 months[160].
双成药业(002693) - 2017 Q1 - 季度财报(更新)
2017-06-08 16:00
Financial Performance - The company's operating revenue for Q1 2017 was ¥42,587,399.38, representing a 105.36% increase compared to ¥20,738,208.12 in the same period last year[8] - The net profit attributable to shareholders of the listed company was -¥8,746,620.64, a 22.47% improvement from -¥11,281,559.65 year-on-year[8] - The basic earnings per share for the period was -¥0.02, an improvement of 33.33% from -¥0.03 in the same period last year[8] - The diluted earnings per share also stood at -¥0.02, reflecting a 33.33% improvement compared to -¥0.03 year-on-year[8] - The company expects a net loss of between -16 million to -14 million yuan for the first half of 2017, with a narrower loss compared to -19.79 million yuan in the same period of 2016[25] Cash Flow and Assets - The net cash flow from operating activities was -¥12,801,828.52, a significant decline of 738.11% compared to -¥1,527,456.54 in the previous year[8] - Total assets at the end of the reporting period were ¥1,196,736,965.55, an increase of 2.68% from ¥1,165,528,072.32 at the end of the previous year[8] - The net assets attributable to shareholders of the listed company decreased by 1.11% to ¥547,015,239.99 from ¥553,127,627.51 at the end of the previous year[8] - Cash and cash equivalents decreased by 40.88% compared to the beginning of the period, primarily due to the use of funds for purchasing engineering and equipment[16] - Cash and cash equivalents net increase was 94.45% year-on-year, primarily due to the repayment of 155 million yuan in loans in the previous period[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,573[12] Operational Highlights - Operating revenue increased by 105.36% year-on-year, driven by higher product sales and improved settlement prices[18] - Operating costs rose by 44.34% year-on-year, mainly due to increased sales volume of pharmaceuticals[18] - Sales expenses surged by 829.34% year-on-year, largely due to increased market development costs following changes in the marketing model[18] - Accounts receivable increased by 40.30% compared to the beginning of the period, attributed to adjustments in the marketing model following the implementation of the two-invoice system in the pharmaceutical industry[16] Investments and Loans - The company confirmed an impairment loss of 96.80 million yuan on its long-term equity investment in Hangzhou Aoya Biotechnology Co., Ltd.[22] - The company obtained a 220 million yuan interest-free loan from its controlling shareholder to meet operational funding needs[22] - The company reported non-operating income of ¥531,727.42 from government subsidies during the reporting period[9] Regulatory and Compliance - The company received a listing permit for Thymosin Alpha 1 from the Italian Medicines Agency[22]
双成药业(002693) - 2017 Q1 - 季度财报
2017-04-27 16:00
Financial Performance - The company's operating revenue for Q1 2017 was ¥42,587,399.38, representing a 105.36% increase compared to ¥20,738,208.12 in the same period last year[8] - The net profit attributable to shareholders of the listed company was -¥8,746,620.64, a decrease of 22.47% from -¥11,281,559.65 year-on-year[8] - The net cash flow from operating activities was -¥12,801,828.52, showing a significant increase of 738.11% compared to -¥1,527,456.54 in the previous year[8] - The basic earnings per share for the reporting period was -¥0.02, a 33.33% improvement from -¥0.03 in the same period last year[8] - The diluted earnings per share also stood at -¥0.02, reflecting the same 33.33% improvement compared to -¥0.03 year-on-year[8] - The weighted average return on net assets was -1.59%, a decrease of 0.37% from -1.22% in the previous year[8] - The company expects a net loss of between RMB 14 million and RMB 16 million for the first half of 2017, with a narrower loss compared to the same period last year[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,196,736,965.55, an increase of 2.68% from ¥1,165,528,072.32 at the end of the previous year[8] - The net assets attributable to shareholders of the listed company decreased by 1.11% to ¥547,015,239.99 from ¥553,127,627.51 at the end of the previous year[8] - Cash and cash equivalents decreased by 40.88% compared to the beginning of the period, primarily due to the use of funds for purchasing engineering and equipment[16] - Other current liabilities increased by 1028.56% compared to the beginning of the period, mainly due to a RMB 220 million interest-free loan from the controlling shareholder[17] Revenue and Costs - Operating revenue increased by 105.36% year-on-year, driven by higher product sales and improved settlement prices[18] - Operating costs rose by 44.34% year-on-year, mainly due to increased sales volume of pharmaceuticals[18] - Sales expenses surged by 829.34% year-on-year, largely due to increased market development costs following the adjustment of the marketing model[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,573[12] Government and Impairment - The company reported non-operating income of ¥531,727.42 from government subsidies during the reporting period[9] - The company confirmed an impairment loss of RMB 96.8 million on its long-term equity investment in Hangzhou Aoya Biotechnology Co., Ltd.[22] Market Developments - The company received a marketing license for Thymosin Alpha 1 injection from the Italian Medicines Agency[22] - Accounts receivable increased by 40.30% compared to the beginning of the period, attributed to adjustments in the marketing model following the implementation of the two-invoice system in the pharmaceutical industry[16]
双成药业(002693) - 2016 Q4 - 年度财报
2017-04-19 16:00
Financial Performance - The company's operating revenue for 2016 was ¥145,135,787.60, a decrease of 37.16% compared to ¥230,970,366.92 in 2015[16] - The net profit attributable to shareholders for 2016 was -¥388,410,589.15, representing a decline of 837.32% from ¥52,679,055.47 in 2015[16] - The net cash flow from operating activities was ¥38,646,854.39, down 16.42% from ¥46,238,560.78 in the previous year[16] - The total assets at the end of 2016 were ¥1,165,528,072.32, a decrease of 24.81% from ¥1,550,160,888.46 at the end of 2015[16] - The net assets attributable to shareholders decreased by 40.37% to ¥553,127,627.51 from ¥927,605,216.66 in 2015[16] - The basic earnings per share for 2016 was -¥0.96, a decline of 838.46% compared to ¥0.13 in 2015[16] - The weighted average return on net assets was -52.96%, down 58.80% from 5.84% in 2015[16] - The company reported a total revenue of CNY 145,135,787.60 in 2016, a decrease of 37.16% compared to CNY 230,970,366.92 in 2015[34] - The company incurred a net loss of CNY 388,410,589.15 for the year, influenced by underperformance of its investment in Hangzhou Aoya Biotechnology Co., Ltd.[34] - The company achieved a gross margin of 57.77% in the industrial sector, down from the previous year by 3.33%[42] Investment and Assets - Long-term equity investments decreased by 56.63% to CNY 207 million, due to impairment provisions related to the valuation of its stake in Hangzhou Aoya[29] - The total assets at the end of 2016 were significantly impacted by a reduction in long-term equity investments, which dropped from CNY 477.31 million to CNY 207 million, a decrease of 56.60%[63] - Fixed assets increased to CNY 419.38 million, representing 35.98% of total assets, due to the completion of various R&D and production projects[64] - The impairment loss on assets amounted to CNY 277.55 million, primarily due to the decline in performance of Hangzhou Aoya, accounting for 72.08% of total profit[61] - The company reported a total of CNY 474,190,807.74 in restricted assets, including CNY 524,420.58 in cash for bank acceptance bill guarantees and CNY 1,038,009.21 in cash for letter of credit guarantees[66] Research and Development - Research and development investment increased by 32.58% year-on-year to 46,057,639.67 yuan, accounting for 31.73% of operating revenue[54] - The company completed most of the raw material production process development for somatostatin in 2016, with plans for large-scale production in 2017 and application for certification in 2018[54] - The company has developed nearly 10 new peptide products, focusing on high market potential and complex synthesis[24] - The company plans to focus on the re-development of the Aisena peptide project as an injection formulation, following regulatory changes[35] - The company has submitted an ANDA application for injectable bivalirudin to the FDA, which is currently under review[54] Market and Sales - The company achieved a market share of approximately 17% for its main product "Jitai," ranking among the top in its category[28] - The company’s multi-peptide products generated revenue of CNY 97,317,997.00, accounting for 67.05% of total revenue, with a year-on-year decline of 33.67%[40] - The company’s export revenue increased by 22.28% to CNY 18,463,142.31, representing 12.72% of total revenue[40] - The company's industrial sales revenue and production amount decreased by 35.88% and 31.05% year-on-year, primarily due to price declines and slower sales resulting from changes in bidding policies[44] - Pharmaceutical sales revenue in the commercial sector dropped by 46.23% year-on-year, with ending inventory decreasing by 20.59%, mainly due to the implementation of the two-invoice system, which led to lost business opportunities[45] Operational Challenges and Risks - The company faces various risks including industry policy changes, rising raw material prices, and product quality risks[4] - The company is facing risks from rising raw material prices and plans to establish procurement strategies to mitigate cost increases[79] - The company has faced uncertainties regarding the approval of new drug applications due to recent regulatory changes in the pharmaceutical industry[76] - The company emphasizes the importance of quality control in drug production, adhering to strict regulations to mitigate quality risks[82] Corporate Governance and Compliance - The company has committed to ensuring the independence of Hainan Shuangcheng Pharmaceutical Co., Ltd. and will not engage in related party transactions that could compromise this independence[90] - The company guarantees that it will not seek or accept more favorable conditions than those offered to third parties in any market transactions[90] - The commitments made by the actual controller and related parties are aimed at preventing conflicts of interest and ensuring compliance with relevant laws and regulations[92] - The company has emphasized the importance of transparency and accountability in its operations and decision-making processes[92] - The company has established a robust internal audit system with 3 auditors to oversee financial reports and internal controls[181] Future Outlook and Strategy - The company plans to enhance its international strategy by developing overseas applications and collaborating with foreign enterprises through various methods, including patent licensing and joint development[74] - The company plans to optimize its marketing system and resource allocation to improve bid success rates for key products[77] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million CNY allocated for this purpose[96] - The company has a positive outlook for the next fiscal year, projecting a revenue growth of 25%[165] - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[165] Employee and Management - The total number of employees in the company is 543, with 453 in the parent company and 90 in major subsidiaries[173] - The total remuneration for directors and senior management during the reporting period amounts to 431.93 million CNY[171] - The company has implemented various training programs to enhance employee skills and capabilities[175] - The management team includes professionals with extensive experience in pharmaceutical production and management, enhancing the company's operational capabilities[159] Shareholder Information - The total share capital of the company decreased from 419,185,500 shares to 405,000,000 shares due to the termination of the stock incentive plan and the repurchase of unvested restricted stocks totaling 14,185,500 shares[138] - The number of shareholders holding more than 5% of shares includes Hainan Shuangcheng Investment Co., Ltd. with 34.45% and HSP Investment Holdings Limited with 16.03%[144] - The company reported a total of 18,694 shareholders at the end of the reporting period[144] Environmental and Social Responsibility - The company has implemented a comprehensive pollution management system to comply with environmental regulations and reduce associated risks[81] - The company plans to increase its production capacity for wastewater treatment to comply with stricter environmental regulations[129] - The company has not yet initiated targeted poverty alleviation efforts and has no subsequent plans for such initiatives[126]
双成药业(002693) - 2016 Q3 - 季度财报
2016-10-20 16:00
海南双成药业股份有限公司 2016 年第三季度报告正文 证券代码:002693 证券简称:双成药业 公告编号:2016-068 海南双成药业股份有限公司 2016 年第三季度报告正文 0 海南双成药业股份有限公司 2016 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王成栋、主管会计工作负责人王旭光及会计机构负责人(会计主 管人员)周云声明:保证季度报告中财务报表的真实、准确、完整。 1 海南双成药业股份有限公司 2016 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 √ 是 □ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度 末增减 | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | 总资产(元) | 1,317,419 ...
双成药业(002693) - 2016 Q2 - 季度财报
2016-08-14 16:00
Financial Performance - The company's operating revenue for the first half of 2016 was ¥54,924,789.21, a decrease of 37.62% compared to the same period last year[21]. - The net profit attributable to shareholders was -¥19,787,022.19, representing a decline of 188.71% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was -¥21,303,910.13, a decrease of 231.16% compared to the previous year[21]. - The net cash flow from operating activities was ¥3,876,853.16, down 52.56% from the same period last year[21]. - The total assets at the end of the reporting period were ¥1,454,004,602.78, a decrease of 6.20% from the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥914,784,594.47, down 1.38% from the previous year[21]. - The basic earnings per share were -¥0.05, a decline of 183.33% compared to the same period last year[21]. - The diluted earnings per share were also -¥0.05, reflecting the same percentage decline as basic earnings[21]. - The weighted average return on net assets was -2.16%, a decrease of 4.62% year-on-year[21]. - The company reported a total profit for the first half of 2016 was a loss of CNY 25,740,420.72, compared to a profit of CNY 24,642,376.28 in the same period last year[138]. Revenue and Sales - The company reported a revenue of ¥54,924,789.21, a decrease of 37.62% year-on-year, primarily due to declining sales volume influenced by industry policies and market competition[32]. - The company experienced a decrease in sales revenue, which fell to CNY 45,648,884.77 from CNY 81,189,543.49 in the previous year[141]. Research and Development - Research and development expenses increased by 39.99% to ¥15,909,183.38, driven by higher technical development costs and personnel expenses[32]. - The company plans to optimize its R&D strategy in response to the latest drug review and approval policies issued by the National Medical Products Administration[38]. - The company has withdrawn drug registration applications for several products after reassessing their clinical value and market prospects[34]. - The company has a strong R&D team, including nearly 10 PhDs with overseas experience, supporting rapid project advancement and international strategy implementation[43]. Investments and Capital Expenditure - The total amount of raised funds is CNY 54,961.97 million, with a cumulative investment of CNY 58,505.02 million[53]. - The company did not make any investments during the reporting period, compared to CNY 640 million in the same period last year[44]. - The company has invested CNY 96 million of surplus raised funds into its wholly-owned subsidiary, Ningbo Shuangcheng, for the research and production of anti-tumor drugs and oral solid preparations[56]. - The total investment for the new lyophilized workshop project was increased from CNY 52.6 million to CNY 70.3657 million[57]. - The cumulative investment in the existing plant renovation and new plant construction project reached CNY 183.7834 million, achieving 72.78% of the planned investment[60]. Cash Flow and Financing - The company's cash flow from operating activities decreased by 52.56% to ¥3,876,853.16, mainly due to declining revenue and increased operating expenses[32]. - The company's net cash flow from investment activities was -¥130,660,610.35, a decrease of 60.60% compared to the previous year[33]. - The cash inflow from financing activities totaled 226,000,000.00, down from 313,934,048.50 in the previous period[147]. - The net cash flow from financing activities was -3,300,597.25, a significant decline from 279,968,472.10 in the previous period[147]. Shareholder and Equity Information - The company plans to distribute cash dividends, prioritizing cash over stock dividends, and aims for a minimum of 30% of the average distributable profit over three consecutive years[101]. - The company has a profit distribution policy that mandates a minimum cash dividend ratio of 80% during mature stages without major capital expenditures[101]. - The total number of common shareholders at the end of the reporting period is 24,679[115]. - Hainan Shuangcheng Investment Co., Ltd. holds 33.28% of the shares, with 139,516,546 shares pledged[115]. Compliance and Governance - The company has not faced any penalties or rectification issues during the reporting period[103]. - The company has not reported any major litigation or arbitration matters during the reporting period[76]. - The company has not experienced any significant changes in its governance structure or compliance with regulations[75]. Assets and Liabilities - The total assets decreased from CNY 1,550,160,888.46 to CNY 1,454,004,602.78, a decline of approximately 6.2%[129]. - Total liabilities decreased from CNY 622,555,671.80 to CNY 539,220,008.31, a decrease of approximately 13.4%[130]. - Owner's equity decreased from CNY 927,605,216.66 to CNY 914,784,594.47, a decline of about 1.4%[131]. Future Outlook - The company expects a net loss of between -32 million and -28 million yuan for the first nine months of 2016, compared to a net profit of 14.976 million yuan in the same period of 2015[70]. - The company has a continuous operating capacity with no significant doubts about its ability to continue operations for the next 12 months[168].
双成药业(002693) - 2016 Q1 - 季度财报
2016-04-25 16:00
Financial Performance - The company's operating revenue for Q1 2016 was ¥20,738,208.12, a decrease of 24.38% compared to ¥27,423,985.15 in the same period last year[7] - The net profit attributable to shareholders was -¥11,281,559.65, representing a decline of 331.47% from ¥4,873,894.02 in the previous year[7] - The basic and diluted earnings per share were both -¥0.03, a decrease of 400.00% from ¥0.01 in the previous year[7] - The net profit attributable to shareholders for the first half of 2016 is expected to range from 997,000 to 7,688,500 RMB, representing a decrease of 95.53% to 65.53% compared to the same period in 2015[28] - The net profit for the first half of 2015 was 22,305,000 RMB, indicating a significant decline in performance for 2016[29] - The decline in performance is primarily attributed to startup costs incurred by the wholly-owned subsidiary Ningbo Shuangcheng Pharmaceutical Co., Ltd. during its establishment phase, as well as fluctuations in regional market bidding and declining bid prices[29] Cash Flow and Assets - The net cash flow from operating activities was -¥1,527,456.54, an improvement of 80.89% compared to -¥7,991,400.72 in the same period last year[7] - Total assets at the end of the reporting period were ¥1,441,156,315.40, down 7.03% from ¥1,550,160,888.46 at the end of the previous year[7] - The net assets attributable to shareholders decreased by 1.22% to ¥916,323,657.01 from ¥927,605,216.66 at the end of the previous year[7] - Cash and cash equivalents decreased by 76.83% at the end of the reporting period compared to the beginning, primarily due to the repayment of a loan of 145 million by the wholly-owned subsidiary Ningbo Shuangcheng and capital expenditures of 76 million[14] - Accounts receivable decreased by 70.55% at the end of the reporting period compared to the beginning, mainly due to the use of bank acceptance bills for material and equipment purchases[14] - Construction in progress increased by 46.06% at the end of the reporting period compared to the beginning, primarily due to increased investments in projects by Ningbo Shuangcheng and the parent company's technical renovation projects[14] - Prepayments increased by 54.99% at the end of the reporting period compared to the beginning, attributed to enhanced collection efforts for sales receivables[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,166[10] - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., held 33.28% of the shares, amounting to 139,516,546 shares[10] Expenses - Sales expenses decreased by 60.17% compared to the same period last year, mainly due to reduced business promotion and marketing expenditures[16] - Management expenses increased by 147.44% compared to the same period last year, primarily due to underutilization of production capacity and increased consulting fees[16] - Financial expenses increased by 120.29% compared to the same period last year, mainly due to higher loan interest expenses[16] Related Party Transactions and Commitments - The company has pledged to adhere to legal regulations and company bylaws in all related party transactions, ensuring fair treatment[24] - The company will not seek any benefits beyond those stipulated in related party agreements with its subsidiary[24] - The company has a long-term commitment to fulfill its obligations as a controlling shareholder, ensuring the independence of its subsidiary[24] - The company has established a framework to prevent conflicts of interest in transactions involving its subsidiary[24] - The company will compensate its subsidiary and its shareholders for any losses incurred due to violations of these commitments[23] - The company has made a commitment to prioritize the interests of its subsidiary in any competitive scenarios[23] - The company has a history of normal compliance with its commitments since 2011[24] - The company will ensure that its related parties do not demand preferential treatment in transactions with its subsidiary[24] Future Plans and Policies - The company plans to increase its shareholding by no less than 500,000 shares within six months from July 15, 2015, following the resumption of trading[26] - The company commits to a cash dividend policy, prioritizing cash distributions and aiming for annual cash dividends, contingent on positive distributable profits and sufficient cash flow[26] - The company has a three-year shareholder return plan (2015-2017), focusing on cash or cash-and-stock dividend distributions[26] - The company assures that any related party transactions will be conducted under normal commercial conditions and in compliance with relevant laws and regulations[25] - The company emphasizes the importance of maintaining the independence of its operations and decision-making processes[25] - The company has committed to not engaging in insider trading or sensitive period transactions during the shareholding increase period[26] - The company will conduct cash dividends only if the annual distributable profits are positive and the audit report is unqualified[26] - The company has pledged to actively promote cash dividends when conditions allow, ensuring that such distributions do not affect its ongoing operations[26] - The company has established a commitment to avoid any related party transactions that could infringe on the rights of other shareholders[25] Acquisition and Investment Activities - The company has made progress in the due diligence of the acquisition project in Germany and is negotiating related purchase agreements[20]
双成药业(002693) - 2015 Q4 - 年度财报
2016-04-20 16:00
Financial Performance - The company's operating revenue for 2015 was CNY 230,970,366.92, representing a 43.28% increase compared to CNY 161,197,722.77 in 2014[18]. - The net profit attributable to shareholders for 2015 was CNY 52,679,055.47, a decrease of 13.33% from CNY 60,780,088.69 in 2014[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 44,229,742.04, down 10.40% from CNY 49,365,362.21 in 2014[18]. - The net cash flow from operating activities for 2015 was CNY 46,238,560.78, a decline of 13.09% from CNY 53,205,645.19 in 2014[18]. - Basic earnings per share for 2015 were CNY 0.13, down 13.33% from CNY 0.15 in 2014[18]. - The net profit for the entire year 2015 was CNY 52.68 million, reflecting a year-on-year increase of 3.57%[20]. - The company reported a significant decline in actual performance, achieving only CNY 5,267.91 million against a forecast of CNY 15,818.33 million for the year 2015, primarily due to the acquisition of only 46% of Hangzhou Aoya's shares and a decrease in product gross margin[101]. Revenue and Sales Growth - The revenue for Q4 2015 reached CNY 97.37 million, contributing to a total annual revenue of CNY 230.07 million, showcasing robust sales growth[25]. - The industrial segment contributed ¥196,202,748.73, accounting for 84.95% of total revenue, with a year-on-year growth of 22.28%[49]. - The sales of peptide products reached ¥146,709,485.94, making up 63.52% of total revenue, with a growth rate of 23.06%[50]. - The company reported a significant increase in export revenue, which rose by 333.38% to ¥15,099,513.11 from ¥3,484,092.13 in the previous year[47]. Research and Development - The company's R&D expenses capitalized increased by 66.97% to CNY 58.38 million, indicating a strong focus on product development[34]. - The company plans to expand its R&D efforts from focusing on 3 categories of peptide drugs to developing over 30 varieties across 3-6 categories of raw materials and formulations, with several products set to be submitted for approval both domestically and internationally[103]. - R&D investment rose by 97.62% to ¥34,739,232.60, accounting for 15.04% of operating revenue, up from 10.91%[58]. - The number of R&D personnel increased by 4.76% to 66, while the proportion of R&D personnel decreased by 3.47%[58]. Assets and Investments - The total assets of Hainan Shuangcheng Pharmaceutical Co., Ltd. at the end of 2015 were approximately CNY 1.55 billion, an increase of 63.87% compared to the end of 2014[20]. - Long-term equity investments increased significantly by 30.79% due to the acquisition of a 46% stake in Hangzhou Aoya Biotechnology Co., Ltd.[63]. - The total investment amount for the reporting period was ¥650,000,000.00, reflecting a 1,525.00% increase compared to the previous year[65]. Cost Management and Challenges - The company faces significant cost pressures due to rising prices of raw materials, labor, and energy, along with upgrades to its quality management system[6]. - The company is facing increased costs in R&D, production, and operations, which are squeezing profit margins amid a challenging market environment[84]. - The company is exposed to potential price reductions due to national reforms in drug pricing and market competition[6]. Dividend Policy - The company plans not to distribute cash dividends or bonus shares[8]. - The company has not proposed any cash dividends for 2015, despite having a positive profit available for distribution to shareholders[92]. - The company’s cash dividend policy stipulates that cumulative cash distributions over any three consecutive years should not be less than 30% of the average distributable profit[90]. - No cash dividends, stock dividends, or capital reserve transfers are planned for the year 2015, aligning with the company's long-term sustainable development strategy[95]. Corporate Governance and Management - The company has maintained a stable management team with no changes in the board of directors, supervisors, or senior management personnel during the reporting period[172]. - The company has established a compensation committee to oversee the remuneration of directors and senior management[180]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.71 million[182]. - The company has implemented a stock incentive plan, granting 14.7 million restricted shares at a price of CNY 4.507 per share to 135 incentive objects[116]. Compliance and Regulatory Matters - The company did not face any major litigation or arbitration matters during the reporting period[112]. - The company has not reported any unfulfilled commitments as of the end of the reporting period[96]. - The company has not faced any penalties from securities regulatory authorities for its directors and supervisors in the past three years[181]. Future Plans and Strategies - The company plans to enhance its international strategy through partnerships, patent licensing, and acquisitions to introduce innovative drugs into the domestic market[85]. - The company plans to focus on project funding needs for 2016 to ensure smooth project execution[94]. - The company aims to maintain a consistent and stable profit distribution policy, ensuring no major investment plans or cash expenditures exceed 20% of the latest audited net assets[99].
双成药业(002693) - 2015 Q3 - 季度财报
2015-10-27 16:00
Financial Performance - Operating revenue for the period reached CNY 45,557,242.88, representing a year-on-year growth of 17.44%[7] - Net profit attributable to shareholders increased by 34.66% to CNY 14,976,011.28 for the quarter[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 65.61% to CNY 14,630,487.43[7] - Basic earnings per share for the quarter were CNY 0.04, up 33.33% from the same period last year[7] - The estimated net profit attributable to shareholders for 2015 is projected to range from 47.15 million to 70.72 million CNY, reflecting a year-on-year change of -20.00% to 20.00%[26] - The net profit for 2014 was 58.93 million CNY, indicating potential fluctuations in 2015 due to increased R&D expenses and stock incentive costs[26] Asset and Shareholder Information - Total assets increased by 48.85% to CNY 1,404,432,041.39 compared to the end of the previous year[7] - The number of ordinary shareholders at the end of the reporting period was 26,809[10] - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 33.28% of the shares, amounting to 139,516,546 shares[10] Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 30,463,438.76, an increase of 8.39% year-to-date[7] - Cash and cash equivalents increased by 91.71% compared to the beginning of the period, mainly due to unused short-term loan funds[14] - Long-term equity investments increased by 516.88 million yuan, primarily due to acquiring 46% equity in Hangzhou Aoya Biotechnology Co., Ltd.[14] - Cash received from the disposal of fixed assets increased by 650.00% year-on-year, due to increased sales of self-used fixed assets[17] - Cash received from investments increased by 639.34 million yuan, mainly due to funds received from the implementation of the equity incentive plan[17] - The company plans to use remaining funds from the IPO and self-raised funds to acquire 46% equity in Hangzhou Aoya Biotechnology Co., Ltd. and 100% equity in Hangzhou Aopeng Investment Management Co., Ltd.[18] Operational Costs and Expenses - Operating costs increased by 51.81% year-on-year, mainly due to increased sales volume and rising labor and depreciation costs[15] - Financial expenses increased by 303.84% year-on-year, primarily due to higher loan interest expenses and reduced interest from time deposits[16] Corporate Governance and Compliance - The company has committed to not transferring or entrusting the management of its shares in Double Success Pharmaceutical for 36 months from the date of its A-share listing, which started in July 2012[21] - The company has pledged to avoid any business activities that may compete with Double Success Pharmaceutical during its tenure as a major shareholder, ensuring no financial or operational support to competing entities[21] - The company has agreed to prioritize the acquisition of assets or equity related to any competing business if such a situation arises, ensuring compliance with Double Success Pharmaceutical's requirements[21] - The company has committed to fulfilling its obligations as a controlling shareholder, respecting the independent legal status of Double Success Pharmaceutical, and ensuring its independent operations and decision-making[22] - The company will not engage in related party transactions with Double Success Pharmaceutical unless absolutely necessary, and will ensure compliance with relevant laws and regulations[22] - The company has established a long-term commitment to avoid any preferential treatment in transactions with Double Success Pharmaceutical, ensuring fair market conditions[22] - The company has committed to not seeking any benefits beyond those stipulated in related transaction agreements with Double Success Pharmaceutical[22] - The company has pledged to act in good faith in fulfilling its obligations as the actual controller of Double Success Pharmaceutical, ensuring respect for its independent operations[22] Dividend Policy - The company plans to distribute profits primarily through cash dividends, with a preference for cash over stock dividends[24] - The company aims to maintain a cash dividend distribution of at least 30% of the average distributable profit over three consecutive years[24] - Cash dividends will be distributed only if the company has positive distributable profits and sufficient cash flow[24] - The company will consider significant investment plans or cash expenditures when determining dividend distributions[24] - The minimum cash dividend ratio is set at 80% for mature companies without major expenditures, 40% for those with major expenditures, and 20% for growing companies with major expenditures[24] Shareholding and Trading Activities - The actual controller and chairman plans to increase shareholding by at least 500,000 shares within six months after the stock resumes trading[24] - The company committed to not reducing its shareholdings during the share buyback period and for six months thereafter[25] - The company has adhered to regulations regarding insider trading and sensitive period transactions[25] Market and Investment Activities - The company reported stable growth in various sales businesses during the reporting period, despite uncertainties in market and policy factors[26] - There were no securities investments during the reporting period[27] - The company did not hold shares in other listed companies during the reporting period[28] - There were no instances of non-compliance with external guarantees during the reporting period[29] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[30]
双成药业(002693) - 2015 Q2 - 季度财报
2015-08-02 16:00
Financial Performance - The company's operating revenue for the first half of 2015 was ¥88,043,496, representing a 25.75% increase compared to ¥70,012,535 in the same period last year[21]. - The net profit attributable to shareholders decreased by 16.76% to ¥22,304,956.76 from ¥26,796,002.73 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥16,242,137.33, down 21.55% from ¥20,702,788.43 in the previous year[21]. - The net cash flow from operating activities increased by 25.28% to ¥8,172,425.71 compared to ¥6,523,187.94 in the same period last year[21]. - Total assets at the end of the reporting period reached ¥1,270,859,923.13, a 34.69% increase from ¥943,541,801.75 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 7.24% to ¥958,281,328.14 from ¥893,553,634.48 at the end of the previous year[21]. - The basic earnings per share decreased by 28.57% to ¥0.05 from ¥0.07 in the same period last year[21]. - The diluted earnings per share also decreased by 28.57% to ¥0.05 from ¥0.07 year-on-year[21]. - The weighted average return on net assets was 2.44%, down from 3.05% in the previous year[21]. Investment Activities - The company reported a significant increase in investment activities, with cash flow from investing activities at -CNY 331,628,033.19, an increase of 808.16% year-on-year due to investments in Hangzhou Aoyang and engineering equipment[32]. - The total amount of raised funds is CNY 549.62 million, with CNY 326.65 million invested during the reporting period[49]. - The cumulative amount of raised funds invested is CNY 572.26 million, with CNY 96 million of raised funds repurposed during the reporting period[49]. - The company has used CNY 96 million of surplus raised funds to increase the capital of its wholly-owned subsidiary, Ningbo Shuangcheng Pharmaceutical Co., Ltd., for R&D and production of anti-tumor drugs and solid oral preparations[51]. - The registered capital of Ningbo Shuangcheng increased from CNY 70 million to CNY 166 million after the capital increase[51]. Research and Development - Research and development expenses surged by 87.65% to CNY 11,364,360.45, driven by increased labor and material costs[31]. - The company is advancing its injection product development project as planned, with ongoing construction of new production facilities[33]. - The company has allocated 200 million RMB for R&D in the next fiscal year, focusing on advanced drug delivery systems[95]. - The company has obtained an invention patent for a method of synthesizing Exenatide using solid-phase fragment synthesis, certified by the National Intellectual Property Administration[101]. Market Expansion and Strategy - The company is actively pursuing international projects and expanding its peptide raw material export business, with an increase in export volume and revenue[33]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[95]. - A strategic acquisition of a local biotech firm was completed for 150 million RMB, enhancing the company's research capabilities[95]. - The company intends to acquire 74.9% equity in Lyomark Pharma GmbH and Bendalis GmbH from Dr. Lothar Böning and Dr. Helmut Wolf[102]. Financial Management and Policies - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - The company has committed to maintaining a dividend payout ratio of 30% of net profit for the fiscal year[95]. - The company emphasizes cash dividends, prioritizing cash distribution and aiming for a minimum of 30% of the average distributable profit over three consecutive years[97]. - The company will conduct cash dividends at least once a year, with conditions allowing for mid-term profit distribution[97]. - The company’s cash dividend ratio will vary based on its development stage, with a minimum of 80% for mature stages without major capital expenditures[97]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,822[110]. - The company granted 14.1855 million restricted stocks, increasing the total shares from 270 million to 419.1855 million[106]. - The company’s foreign shareholding decreased from 16.03% to 15.49% after the share changes[106]. - The company’s domestic non-state-owned legal person, Hainan Shuangcheng Investment Co., Ltd., holds 33.28% of the shares, with 120.12 million shares pledged[110]. Compliance and Governance - The company has committed to not transfer or manage its A-share holdings for 36 months from the date of listing, ensuring strict compliance[93]. - The company has a commitment from its directors to limit the transfer of shares to 25% of their holdings during their tenure and for six months post-termination[93]. - The company has reported that it has completed the commitments made during the IPO process[93]. - The company’s financial statements are prepared based on the going concern principle, with no significant doubts about its ability to continue operations for the next 12 months[159]. Operational Challenges - The company reported stable growth in sales, but increased R&D expenses and stock incentive costs may impact net profit in 2015[64]. - The company’s current assets decreased from RMB 621,196,180.97 to RMB 298,261,076.62 during the reporting period[123]. - Cash and cash equivalents dropped from RMB 85,395,600.30 to RMB 57,018,627.84, reflecting a decline of approximately 33.2%[122]. - Accounts receivable increased significantly from RMB 3,107,975.11 to RMB 15,390,457.53, representing a growth of about 394.5%[122]. Financial Reporting - The company's half-year financial report has not been audited[99]. - The financial report for the first half of 2015 was not audited[120]. - The company reported a comprehensive income of ¥22,304,956.76 for the current period, reflecting a significant change in equity[147].