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龙津药业(002750) - 2021 Q2 - 季度财报
2021-08-30 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 397,538,178.27, representing a 295.55% increase compared to CNY 100,503,822.57 in the same period last year[15]. - The net profit attributable to shareholders was CNY 4,872,911.81, a significant turnaround from a loss of CNY 1,606,543.95 in the previous year, marking a 403.32% increase[15]. - The net profit after deducting non-recurring gains and losses was CNY 554,453.19, compared to a loss of CNY 6,375,881.18 in the same period last year, reflecting an increase of 108.70%[15]. - The basic earnings per share rose to CNY 0.0122 from a loss of CNY 0.0040, indicating a 405.00% improvement[15]. - The company reported a total non-operating income of CNY 4,318,458.62, which includes government subsidies of CNY 1,458,122.86 and investment income of CNY 3,937,797.73[19]. - The company achieved a recovery in drug production and sales, driven by increased hospital admissions and government healthcare investments, resulting in a significant profit contribution[33]. - The company’s total profit for the first half of 2021 was CNY 10,192,195.32, an increase of 70.5% from CNY 5,947,281.15 in the first half of 2020[155]. - The comprehensive income for the first half of 2021 was CNY 10,067,977.73, compared to a loss of CNY 1,606,543.95 in the same period of 2020, indicating a turnaround in performance[164]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,030,885,009.64, up 22.47% from CNY 841,755,807.01 at the end of the previous year[15]. - The net assets attributable to shareholders increased slightly by 0.77%, reaching CNY 640,926,611.54 compared to CNY 636,053,699.73 at the end of the previous year[15]. - The company's accounts receivable rose to CNY 125,185,978.31, a 185.04% increase from CNY 43,919,037.39, driven by increased sales activities from the new subsidiary[45]. - The inventory level increased to CNY 131,684,006.41, reflecting a 140.87% rise from CNY 54,671,128.80, also due to the operations of the new subsidiary[45]. - Total liabilities reached CNY 310,440,186.58, compared to CNY 137,049,500.13 at the end of 2020, indicating a growth of approximately 126.5%[144]. - The company's equity attributable to shareholders was CNY 640,926,611.54, slightly up from CNY 636,053,699.73[144]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 25,475,931.67, a decline of 1,435.59% from -CNY 1,659,028.12 in the same period last year[15]. - The net cash flow from operating activities for the first half of 2021 was ¥14,933,176.58, a significant increase from ¥2,421,027.32 in the same period of 2020, representing a growth of approximately 517.5%[163]. - The total cash inflow from investment activities was CNY 512,332,797.73, while cash outflow was CNY 533,330,154.13, resulting in a net cash outflow of CNY 20,997,356.40[160]. - The company reported cash and cash equivalents at the end of the period amounting to CNY 99,252,235.21, down from CNY 123,977,145.04 at the beginning of the period[160]. Research and Development - Research and development (R&D) investment amounted to ¥11,684,249.82, representing a 20.39% increase from ¥9,705,714.81, supporting the development of chemical generic drugs and supplementary applications[45]. - The company has a dedicated R&D team of 30 members, with R&D investment accounting for 10% of sales revenue, indicating a strong commitment to innovation and development[40]. - The company is focusing on clinical demand-driven R&D, with multiple projects in progress, including a new innovative drug for ischemic stroke that has completed preclinical studies[36]. Market and Sales Strategy - The company has implemented a "sales-driven production" model, ensuring that production aligns with sales plans and inventory levels[27]. - The company’s sales channels cover thousands of medical institutions nationwide, utilizing a deep distribution operation service and specialized academic promotion[28]. - The company has established a comprehensive marketing system, covering all 31 provinces in China, to enhance product access and sales[42]. - The flagship product, Longjin® Injection of Lampflower Extract, has a purity exceeding 98% and has been recognized as a national secondary protected traditional Chinese medicine variety[41]. Risks and Challenges - The management emphasized the uncertainty in achieving future financial targets due to market conditions and operational efforts[3]. - The company faced risks from industry policy changes, particularly in drug sales and industrial hemp regulations, which could adversely affect operations[70]. - The company is monitoring national policies and industry trends to mitigate risks and ensure sustainable development[70]. - The company faces management risks due to rapid business expansion, which may lead to challenges in resource integration, product development, and quality management[72]. Corporate Governance and Structure - The financial report for the first half of 2021 was not audited[139]. - The actual controller of the company is Fan Xian'e, with Kunming Qunxing Investment Co., Ltd. as the ultimate parent company[184]. - The company has not reported any significant environmental issues or administrative penalties during the reporting period[87]. - The company has not reported any changes in accounting policies or prior period error corrections for this period[174].
龙津药业(002750) - 2021 Q1 - 季度财报
2021-04-27 16:00
Financial Performance - The company's operating revenue for Q1 2021 was ¥206,120,330.21, representing a 398.23% increase compared to ¥41,370,743.10 in the same period last year[7] - Net profit attributable to shareholders was ¥2,636,189.61, a 162.93% increase from a loss of ¥4,189,298.20 in the previous year[7] - The net profit after deducting non-recurring gains and losses was ¥206,069.19, improving by 103.38% from a loss of ¥6,104,842.12[7] - The basic earnings per share rose to ¥0.0066, a 162.69% improvement from a loss of ¥0.0105 per share in the same period last year[7] - Operating revenue surged by 398.23% to ¥206,120,330.21, with a year-on-year growth of 24% attributed to enhanced channel development and increased product sales.[15] - Operating profit for the quarter was CNY 5,488,722.17, compared to CNY 1,151,407.84 in the same period last year[41] - Net profit for the quarter reached CNY 5,664,525.34, a significant recovery from a net loss of CNY 201,504.74 in the previous year[41] - The company reported a total comprehensive income of CNY 5,664,525.34, compared to a loss of CNY 201,504.74 in the same period last year[42] Assets and Liabilities - The company's total assets increased by 18.05% to ¥993,722,701.01 from ¥841,755,807.01 at the end of the previous year[7] - Current liabilities surged to CNY 235,388,619.99, up from CNY 100,283,777.44, representing an increase of about 134%[29] - The company's total liabilities reached CNY 274,420,476.31, up from CNY 137,049,500.13, indicating a growth of approximately 100%[29] - The total owner's equity rose to CNY 719,302,224.70 from CNY 704,706,306.88, reflecting an increase of about 2%[30] - The company reported a total of CNY 361,819,950.99 in current assets, including cash and cash equivalents of CNY 53,209,609.39[54] - Non-current assets were valued at CNY 405,910,422.30, with fixed assets contributing CNY 189,297,529.32[55] Cash Flow - The net cash flow from operating activities was -¥31,810,151.06, a decline of 209.32% compared to -¥10,274,152.98 in the same period last year[7] - The net cash flow from investing activities improved by 124.69% to ¥25,753,463.47, due to changes in the purchase of financial products.[16] - Cash inflow from operating activities totaled CNY 151,681,265.25, significantly up from CNY 49,709,367.63 in the previous period[44] - Cash outflow from operating activities amounted to CNY 183,491,416.31, compared to CNY 59,983,520.61 in the prior period, resulting in a net cash flow from operating activities of -CNY 31,810,151.06[45] - The net cash flow from investment activities was CNY 25,753,463.47, a recovery from -CNY 104,301,239.14 in the previous period[46] - The ending balance of cash and cash equivalents stood at CNY 131,569,109.02, compared to CNY 90,903,378.34 in the prior period[46] Shareholder Information - The top shareholder, Kunming Qunxing Investment Co., Ltd., holds 41.38% of the shares, totaling 165,723,830 shares[11] - There were no repurchase transactions conducted by the top 10 shareholders during the reporting period[12] Inventory and Receivables - Accounts receivable increased by 183.84% to ¥124,661,545.64 due to increased sales by the subsidiary Yunnan Longjin Pharmaceutical Co., Ltd.[15] - Inventory rose by 119.68% to ¥120,101,099.81 as a result of increased stock by the subsidiary Yunnan Longjin Pharmaceutical Co., Ltd.[15] Expenses - Operating costs skyrocketed by 2404.95% to ¥150,973,564.57, primarily due to increased costs from the subsidiary Yunnan Longjin Pharmaceutical Co., Ltd.[15] - Sales expenses increased by 34.53% to ¥40,125,797.76, driven by higher marketing and promotion costs alongside increased revenue.[15] - Research and development expenses amounted to CNY 2,173,595.90, an increase from CNY 1,626,097.75 in the previous period[40] Other Financial Metrics - The weighted average return on net assets was 0.41%, up from -0.67% in the previous year[7] - The company reported a credit impairment loss increase of 589.37% to -¥2,536,290.46, linked to a rise in accounts receivable.[16] - The company incurred a tax expense of CNY -179,349.76, compared to a tax expense of CNY 320,977.03 in the previous year[41] Audit and Compliance - The company has not undergone an audit for the Q1 2021 report, which may affect the reliability of the financial data presented[56] - The adjustment for the new leasing standards was not applicable for the company in the current reporting period[56]
龙津药业(002750) - 2020 Q4 - 年度财报
2021-04-14 16:00
Financial Performance - The company's operating revenue for 2020 was ¥254,026,717.66, a decrease of 7.72% compared to ¥275,292,322.31 in 2019[16] - The net profit attributable to shareholders in 2020 was ¥11,811,617.50, representing a significant increase of 151.12% from a loss of ¥23,107,439.88 in 2019[16] - The net cash flow from operating activities was negative at ¥6,776,928.51, a decline of 267.61% compared to a positive cash flow of ¥4,043,279.31 in 2019[16] - The basic earnings per share for 2020 was ¥0.0295, a turnaround from a loss of ¥0.0577 per share in 2019, marking an increase of 151.18%[16] - Total assets at the end of 2020 amounted to ¥841,755,807.01, reflecting a growth of 4.32% from ¥806,891,975.76 at the end of 2019[16] - The net assets attributable to shareholders increased by 1.89% to ¥636,053,699.73 at the end of 2020, compared to ¥624,242,082.23 at the end of 2019[16] - The company reported a weighted average return on equity of 1.87% in 2020, an improvement from -3.63% in 2019[16] - The company's revenue after deducting other business income was ¥253,710,927.66 in 2020, compared to ¥274,025,812.72 in 2019[16] Operational Stability - The company did not change its main business since its listing, indicating stability in its operational focus[14] - The company has not reported any changes in its controlling shareholder since its establishment, ensuring continuity in governance[14] Quarterly Performance - In 2020, the company's total revenue for the four quarters was approximately CNY 254.03 million, with a significant increase in Q4 revenue to CNY 89.64 million, up from CNY 41.37 million in Q1[20] - The net profit attributable to shareholders turned from a loss of CNY 4.19 million in Q1 to a profit of CNY 9.53 million in Q4, indicating a recovery in profitability[20] - The net cash flow from operating activities showed fluctuations, with a negative cash flow of CNY 10.27 million in Q1 and a positive cash flow of CNY 8.62 million in Q2[20] Product and Market Performance - The company's main product, Longjin® injection of Ligusticum chuanxiong, is included in the national medical insurance directory, contributing significantly to revenue and profit[25][30] - The company faced a 13.8% year-on-year decline in hospital visits from January to October 2020, impacting overall sales performance[29] - The company successfully regained procurement rights in 27 provinces and cities, with over 500 hospitals restored for distribution during the reporting period[30] - The company implemented cost-reduction strategies, resulting in a decrease in management expenses compared to the previous year[30] - Non-recurring gains included government subsidies amounting to CNY 11.44 million, which positively impacted the financial results[21] Industry Context - The overall pharmaceutical market faced challenges, with a 6% decrease in drug procurement expenses nationwide, highlighting the competitive environment[29] - The pharmaceutical manufacturing industry in China saw a 12.9% year-on-year growth in main business revenue and a 12.7% increase in operating profit in 2020[31] - Sales of traditional Chinese medicine (TCM) in key public hospitals in major cities reached approximately 30 billion yuan, reflecting a 12.48% decline year-on-year, with the first quarter experiencing the largest drop of 29.73%[32] Research and Development - The company holds over 30 invention patents and has been involved in significant national and provincial projects related to new drug creation and TCM standardization[34] - The company's R&D investment has consistently accounted for 10% of sales revenue, with R&D personnel making up about 15% of the total workforce[38] - The company launched 4 new invention patents during the reporting period, and the innovative drug research and development progressed as planned, with preclinical studies for ZKLJ02 completed[46] Subsidiary Developments - The company established a new subsidiary, Yunnan Longjin Pharmaceutical Sales Co., Ltd., in September 2020, impacting the consolidated financial statements[65] - The company’s subsidiary, Yunnan Longjin Pharmaceutical Sales Co., Ltd., obtained a drug business license, marking entry into the regional pharmaceutical and medical device wholesale market[47] - The company reported a net profit of 15,669.65 CNY from its newly established subsidiary Yunnan Longjin Pharmaceutical Sales Co., which was set up in September 2020[94] Financial Management - The company’s cash and cash equivalents decreased by CNY 71.45 million, a decline of 36.56%, attributed to changes in the balance of financial products[50] - Accounts receivable increased by CNY 10.31 million, a rise of 30.67%, due to increased sales activities from the newly established subsidiary[51] - The total operating costs amounted to ¥51,349,241.45, an increase from ¥48,263,910.33 in the previous year[62] Future Outlook - The company plans to enhance its R&D and innovation capabilities, focusing on developing specialty chemical generic drugs for cardiovascular and metabolic diseases[98] - The company aims to leverage industrial hemp cultivation to establish a full industrial chain, enhancing its product offerings[99] - The company will adopt a dual approach of "internal growth + external expansion" to inject new vitality into its operations, including increasing R&D investment in specialty chemical generics[99] - The company expects its pharmaceutical industrial sales revenue in 2021 to remain flat compared to 2020, with new products like the injection of fibrinolytic enzyme showing slight growth[100] Shareholder and Governance - The company reported a profit distribution plan for 2020, proposing no cash dividends, no bonus shares, and no capital reserve transfer, with retained earnings to be carried forward for future distribution[115] - The company has not distributed any cash dividends in the past three years, with cash dividends amounting to CNY 0.00 for 2020, 2019, and 2018, representing 0.00% of the net profit attributable to ordinary shareholders[116] - The company has maintained compliance with all commitments made by its actual controllers and shareholders during the reporting period[121] Management and Compliance - The management team saw changes with Fan Xian'e stepping down as General Manager on December 30, 2020, and being succeeded by Fan Lijuan[181] - The company has not faced any penalties from securities regulatory authorities in the past three years[198] - The company has established a comprehensive internal control system to protect the rights of shareholders and creditors, ensuring compliance with laws and regulations[155]
龙津药业(002750) - 2020 Q3 - 季度财报
2020-10-28 16:00
昆明龙津药业股份有限公司 2020 年第三季度报告全文 昆明龙津药业股份有限公司 2020 年第三季度报告 2020-064 2020 年 10 月 1 昆明龙津药业股份有限公司 2020 年第三季度报告全文 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。 公司负责人樊献俄、主管会计工作负责人苏闽娟及会计机构负责人(会计主 管人员)苏闽娟声明:保证季度报告中财务报表的真实、准确、完整。 2 昆明龙津药业股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需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 | | --- | --- | --- | --- | --- | | 总资产(元) | 825,187,356.42 | 806,891,975.76 | | 2.27% | | 归属于上市公司股东的净资产(元) | 626, ...
龙津药业(002750) - 2020 Q2 - 季度财报
2020-08-24 16:00
Product Diversification and Market Presence - The company reported a significant reliance on a single product, with only Longjin® injection of Lampflower extract in production during the reporting period, indicating a risk due to limited product diversification [4]. - The company has a limited presence in the industrial hemp market, with only two provinces authorized for legal cultivation, creating uncertainty regarding future market opportunities [4]. - The company's main product, Longjin® injection of Ligusticum chuanxiong, is included in the National Basic Medical Insurance and has been recognized in local essential drug lists since 2010 [34]. - The company currently holds 10 drug production licenses, but only one product, Longjin® injection of lamp flower extract, is in production, highlighting a risk due to a lack of product diversity [81]. Financial Performance and Risks - The company's revenue for the first half of 2020 was ¥100,503,822.57, a decrease of 23.37% compared to ¥131,150,326.70 in the same period last year [26]. - The net profit attributable to shareholders was a loss of ¥1,606,543.95, representing a decline of 219.88% from a profit of ¥1,340,140.21 in the previous year [26]. - The net cash flow from operating activities improved by 66.58%, amounting to -¥1,659,028.12 compared to -¥4,963,475.28 in the same period last year [26]. - Basic and diluted earnings per share were both -¥0.0040, a decrease of 221.21% from ¥0.0033 in the previous year [26]. - The company has recognized a goodwill impairment of 24.34 million yuan and asset group impairment of 4.43 million yuan due to ongoing litigation, which could further impact financial performance if the outcome is unfavorable [12]. - The company reported non-recurring gains and losses totaling ¥4,769,337.23 during the reporting period [31]. - The company’s revenue and profit were significantly impacted by the COVID-19 pandemic, leading to a decrease in patient hospitalization rates and restrictions on medical insurance payments [53]. Research and Development - Research and development expenses for the year amounted to 29.3 million yuan, with 8.6 million yuan capitalized, representing 37.29% of the net profit impact, highlighting potential financial risks if these capitalized expenses do not yield expected economic benefits [10]. - The company is actively developing new drugs in the cardiovascular and metabolic categories, as well as specialized generic drugs, to expand its product line and enhance competitive advantage [4]. - The company is focusing on the development of new products and technologies in the cardiovascular disease sector to enhance its market position [39]. - The company has filed for production applications for two chemical generic drugs in the second half of the year, despite delays in other projects due to the pandemic [54]. Regulatory and Environmental Risks - The company is exposed to regulatory risks in the pharmaceutical industry, with increasing scrutiny and potential changes in policies affecting pricing and sales [3]. - The company emphasizes strict adherence to quality control standards in production, but faces risks from potential changes in regulatory requirements that could impact product quality [8]. - The company is subject to environmental risks due to stricter regulations, which may increase operational costs and compliance challenges [9]. - The company faces risks from strict regulatory policies in the pharmaceutical industry, which may affect product pricing and sales volume [80]. Shareholder and Investment Information - The company has not declared any cash dividends or stock bonuses, indicating a focus on reinvestment rather than shareholder returns [13]. - The company has not distributed cash dividends or bonus shares for the half-year period, indicating a focus on retaining earnings [93]. - The company has made commitments regarding the payment of social security and housing fund contributions for employees, ensuring that shareholders will bear the costs proportionally [97]. - The company will compensate for any economic losses incurred due to penalties from government authorities related to inter-company borrowing behaviors [97]. Operational Strategies - The company has implemented a "sales-driven production" model, aligning production plans with market demand and sales forecasts [35]. - The company has established a "company + base (or cooperative) + farmer" model for industrial hemp cultivation, ensuring stable raw material supply through contracts with farmers [37]. - The company is actively pursuing new product development and market expansion strategies to enhance its competitive position in the pharmaceutical sector [18]. - The company aims to stabilize its market share and explore new sales opportunities despite a declining trend in the industry [39]. Financial Management and Investments - The company reported a significant increase in investment income, rising by 421.53% to ¥3,788,660.84 from a loss of ¥1,178,319.88 in the previous year, due to increased returns from financial products [58]. - The company’s cash and cash equivalents decreased by 71.92% to ¥54,885,090.23 from ¥195,428,770.46, primarily due to changes in the balance of financial products [57]. - The company has a total of 58,716,000 CNY in entrusted financial management, with an outstanding balance of 34,916,000 CNY [119]. - The company’s retained earnings decreased to 176,255,287.09 CNY from 199,403,935.77 CNY in the previous period [169]. Corporate Governance and Compliance - The financial report was approved by the board of directors on August 24, 2020 [195]. - The financial statements comply with the requirements of the accounting standards and reflect the financial position as of June 30, 2020, and the operating results and cash flows for the first half of 2020 [200]. - The company has not identified any significant matters affecting its ability to continue as a going concern [198]. - The company has no ongoing patent infringement or intellectual property rights cases as of the date of the commitment letter [97].
龙津药业(002750) - 2019 Q3 - 季度财报
2020-07-24 16:00
Financial Performance - Operating revenue decreased by 32.09% to CNY 57,101,990.19 for the current period, and decreased by 25.22% to CNY 188,252,316.89 year-to-date[7] - Net profit attributable to shareholders decreased by 94.19% to CNY 209,066.80 for the current period, and decreased by 89.33% to CNY 1,549,207.01 year-to-date[7] - Basic earnings per share dropped by 94.44% to CNY 0.0005 for the current period, and decreased by 89.26% to CNY 0.0039 year-to-date[7] - Total operating revenue for Q3 2019 was CNY 57,101,990.19, a decrease of 32.0% compared to CNY 84,080,613.79 in the same period last year[35] - Net profit for Q3 2019 was CNY -597,735.04, compared to a net profit of CNY 3,601,262.57 in Q3 2018, indicating a significant decline[37] - The company reported a total comprehensive income of ¥729,145.60, significantly lower than ¥14,523,775.71 in the previous period[45] Assets and Liabilities - Total assets increased by 4.58% to CNY 823,588,973.70 compared to the end of the previous year[7] - The total liabilities increased to CNY 137,640,065.73 from CNY 131,616,795.52, marking a rise of about 4.06%[29] - The company's total non-current assets reached CNY 342,193,829.77, up from CNY 314,980,193.45, indicating an increase of about 8.63% year-over-year[27] - Total current assets amounted to CNY 472,569,549.40, with cash and cash equivalents at CNY 384,283,633.27[60] - The total liabilities decreased to CNY 103,312,609.31 from CNY 131,504,054.02, reflecting a reduction of 21.4%[34] - Total liabilities reached CNY 131,504,054.02, with non-current liabilities at CNY 32,181,842.92[67] Cash Flow - Net cash flow from operating activities increased by 202.12% to CNY 13,358,466.06 for the current period[7] - Cash inflow from operating activities was CNY 237,487,982.25, down from CNY 306,319,007.08 in the previous period, representing a decrease of approximately 22.4%[51] - Cash outflow for investment activities totaled CNY 73,145,043.47, significantly lower than CNY 1,011,690,434.20 in the previous period[53] - Cash inflow from financing activities was CNY 19,250,900.00, while cash outflow was CNY 12,015,000.00, resulting in a net cash flow of CNY 7,235,900.00[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,670[9] - The largest shareholder, Kunming Qunxing Investment Co., Ltd., holds 42.38% of the shares, totaling 169,724,647 shares[9] - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[11] Research and Development - The company reported a 148.04% increase in development expenditures to ¥11,789,673.91, driven by increased R&D investments in generic drugs and re-evaluation of already listed products[14] - Research and development expenses for Q3 2019 were CNY 3,995,816.06, down 57.2% from CNY 9,336,728.52 in the same quarter last year[35] - Research and development expenses were ¥13,993,041.17, a decrease of 38.5% from ¥22,687,720.43 in the previous period[42] Inventory and Receivables - Accounts receivable decreased by 30.31% to ¥25,904,415.87 from ¥37,172,011.23, attributed to successful collection efforts during the period[14] - Inventory increased by 46.80% to ¥39,906,415.07 due to the acquisition of the aforementioned companies[14] - The company reported a rise in other receivables to CNY 19,498,870.45 from CNY 2,921,427.39, an increase of about 570.0%[26] Acquisitions and Investments - The company completed the acquisition of Nanjiang Longjin Biotechnology Co., Ltd. and Nanjiang Longjin Agricultural Technology Co., Ltd., resulting in a 60.40% increase in intangible assets to ¥42,138,570.22[14] - The company’s goodwill increased to ¥6,999,586.78 due to the acquisitions, marking a 100% increase[14] Financial Ratios - The company’s total liabilities to equity ratio stands at approximately 0.20, indicating a conservative leverage position[62]
龙津药业(002750) - 2020 Q1 - 季度财报
2020-04-28 16:00
昆明龙津药业股份有限公司 2020 年第一季度报告全文 昆明龙津药业股份有限公司 2020 年第一季度报告 2020-026 2020 年 04 月 1 昆明龙津药业股份有限公司 2020 年第一季度报告全文 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。 公司负责人樊献俄、主管会计工作负责人苏闽娟及会计机构负责人(会计主 管人员)苏闽娟声明:保证季度报告中财务报表的真实、准确、完整。 2 昆明龙津药业股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入(元) | 41,370,743.10 | 65,213,290.42 | -36.56% | | 归属于上市公司股东的净利润(元) | -4,189,298.20 | ...
龙津药业(002750) - 2019 Q4 - 年度财报
2020-04-28 16:00
Financial Performance - The company's operating revenue for 2019 was ¥275,292,322.31, a decrease of 18.06% compared to ¥335,984,894.90 in 2018[20]. - The net profit attributable to shareholders for 2019 was -¥23,107,439.88, representing a decline of 266.60% from ¥13,870,103.38 in 2018[20]. - The net cash flow from operating activities decreased by 87.24% to ¥4,043,279.31 in 2019, down from ¥31,698,797.10 in 2018[20]. - The basic earnings per share for 2019 was -¥0.0577, a drop of 266.76% from ¥0.0346 in 2018[20]. - The company achieved operating revenue of 275 million yuan in 2019, a decrease of 18.06% compared to the previous year, marking the first net loss of 23.11 million yuan for the company[45]. - The company reported a significant loss in net profit, indicating a challenging financial year[89]. - The company’s net profit attributable to ordinary shareholders for 2019 was reported as -¥23,107,439.88, indicating a loss[119]. R&D and Product Development - The company's R&D investment amounted to 29.3 million yuan, with a capitalization amount of 8.6171 million yuan, impacting net profit by 37.29%[7]. - The company is actively developing new drugs in cardiovascular and metabolic areas, aiming to expand its product line and enhance its competitive edge[4]. - The company has focused on enhancing its R&D capabilities for specialty chemical generic drugs and diversifying into health food and industrial hemp businesses[36]. - The company has applied for 4 invention patents during the reporting period, receiving authorization for 2[45]. - The company has submitted supplementary applications for clinical trials related to the injection of Ligusticum chuanxiong, awaiting approval from the National Medical Products Administration[45]. - The company plans to launch the injection of fibrinolytic enzyme in 2020, with national marketing and sales efforts already initiated[46]. Market and Competition - The company faces significant risks from industry policy changes, including price and quantity reductions due to stricter regulations in the pharmaceutical sector[3]. - The company is exposed to market risks due to intense competition in the pharmaceutical manufacturing and planting industries, which may lead to price declines and reduced sales volumes[5]. - The market for cardiovascular disease treatments is expected to grow significantly, driven by an aging population and increasing prevalence of risk factors[35]. - The company is expanding its market presence by entering two new provinces, aiming to increase market share by 10% in the next year[195]. Financial Management and Investments - The company has invested in low-risk bank products to improve fund utilization efficiency, but any adverse changes in its main product's performance could significantly impact overall financial results[4]. - The company received government subsidies amounting to ¥10,324,893.37 in 2019, an increase from ¥8,218,729.20 in 2018[26]. - The company recorded an investment income increase of 264.21% in 2019, amounting to an increase of 5.84 million yuan[52]. - The company has established a new wholly-owned subsidiary, Longjin Kantou, focusing on specialized chemical generic drug research and development[47]. - The company has committed to not engaging in any business that competes with its own operations, ensuring no conflicts of interest[121]. Risks and Challenges - The company has recognized a goodwill impairment of 24.3416 million yuan and an asset group impairment of 4.4262 million yuan due to a pending lawsuit, which could significantly affect future profitability[8]. - The company faces significant management risks due to rapid business expansion, which may lead to challenges in resource integration and compliance with regulations[104]. - The company is exposed to market risks from intense competition in the pharmaceutical industry, which may lead to price declines and reduced sales[105]. - The company has a potential risk of tax incentives being reduced or eliminated, affecting its subsidiaries engaged in agricultural production[111]. - The company has recognized a goodwill impairment of 24.34 million yuan due to a lawsuit, which could negatively impact future performance if the outcome is unfavorable[112]. Corporate Governance and Compliance - The company has committed to timely fulfillment of obligations to minority shareholders[128]. - The company has confirmed that it does not have any ongoing patent infringement cases as of the date of the commitment letter[122]. - The company will bear all tax liabilities, late fees, and penalties incurred due to the withdrawal of tax benefits enjoyed by foreign investors[124]. - The company will publicly explain the reasons for any failure to fulfill commitments at shareholder meetings and designated publications[126]. - The company has maintained compliance with laws and regulations, ensuring the protection of shareholder and creditor rights[158]. Subsidiaries and Acquisitions - The company established a wholly-owned subsidiary, Yunnan Longjin Fantian Biotechnology Co., Ltd., with a registered capital of CNY 25.5 million, and has contributed CNY 13.16 million as of December 31, 2019[134]. - The company acquired a 51.09% stake in Yunnan Muya Agricultural Technology Co., Ltd. for ¥15 million, completed on June 18, 2019[66]. - The company completed the acquisition of 100% equity in Yunnan Sanqi Technology's subsidiaries, with payment ratios reaching 80% and 90% respectively by July 2, 2019[136]. - The company plans to establish a joint venture, Fujian Longjin Tang Health Industry Co., Ltd., with a registered capital of CNY 20 million, holding a 51% stake[137]. Employee and Management Structure - The total number of employees in the company is 241, with 199 in the parent company and 42 in major subsidiaries[200]. - The professional composition includes 79 production personnel, 52 sales personnel, 51 technical personnel, 16 financial personnel, and 43 administrative personnel[200]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period amounts to 521.09万元[199]. - The highest remuneration for a director is 66.3万元, received by the vice chairman[198]. - The company has no stock incentive plans granted to directors and senior management during the reporting period[199].
龙津药业(002750) - 2019 Q3 - 季度财报
2019-10-23 16:00
Financial Performance - Operating revenue for the reporting period was ¥57,100,397.27, a decrease of 32.09% year-on-year[7] - Net profit attributable to shareholders was ¥465,799.05, down 87.07% compared to the same period last year[7] - Basic earnings per share decreased by 86.67% to ¥0.0012[7] - Revenue fell by 25.22% to ¥188,250,723.97, impacted by national healthcare cost control policies and prescription restrictions[13] - The company reported a net profit of CNY 202,375,772.56 for the period, compared to CNY 199,879,965.61 in the previous period, marking a slight increase[31] - Total operating revenue for the current period is $57.1 million, down from $84.1 million in the previous period, representing a decrease of approximately 32.1%[33] - Net profit for the current period is $1.23 million, a significant decline from $3.62 million in the previous period, indicating a decrease of approximately 66.1%[37] - The total profit for the current period is $1.83 million, down from $3.79 million in the previous period, representing a decrease of about 51.7%[37] - The company reported a total profit for the period was ¥3,814,392.01, down 76.4% from ¥16,116,117.43 in the previous period[41] Cash Flow - The net cash flow from operating activities increased by 201.56% to ¥13,333,754.46[7] - Cash flow from operating activities was ¥222,629,811.28, compared to ¥300,563,302.86 in the previous period[48] - The net cash flow from operating activities for Q3 2019 was ¥8,370,279.18, a decrease from ¥8,664,507.39 in Q3 2018, reflecting a decline of approximately 3.4%[49] - Total cash inflow from operating activities was ¥236,716,323.85, compared to ¥306,319,007.08 in the previous year, indicating a decrease of about 22.7%[49] - The net cash flow from financing activities was ¥19,250,900.00, compared to -¥12,015,000.00 in the previous year, marking a significant improvement[50] Assets and Liabilities - Total assets at the end of the reporting period reached ¥790,492,163.35, an increase of 0.37% compared to the previous year[7] - The company's total liabilities were CNY 104,286,523.13, down from CNY 131,616,795.52, indicating a decrease of approximately 20.7%[25] - Current liabilities decreased to CNY 73,320,527.11 from CNY 99,434,952.60, representing a reduction of about 26.3%[25] - Non-current assets totaled CNY 338,758,101.97, up from CNY 314,980,193.45, reflecting a growth of approximately 7.0%[26] - Owner's equity increased to CNY 686,205,640.22 from CNY 655,932,947.33, showing a growth of about 4.6%[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 39,670[9] - The largest shareholder, Kunming Qunxing Investment Co., Ltd., held 42.38% of shares, totaling 169,724,647 shares[9] - The company did not engage in any repurchase transactions during the reporting period[10] Research and Development - R&D expenses decreased by 38.32% to ¥13,993,041.17, as capitalized development costs were reported[13] - The company has ongoing development expenditures of CNY 11,789,673.91, significantly higher than CNY 4,753,149.27 from the previous year, indicating a focus on new product development[29] Financial Ratios - The weighted average return on net assets was 0.07%, a decrease of 0.49% year-on-year[7] - Financial income rose significantly by 1221.51% to -¥9,197,703.67, due to increased interest income[14] - The company experienced a significant increase in financial expenses, with a net financial cost of -¥9,197,703.67 compared to -¥696,001.97 in the previous period[39] Investment Activities - The net cash flow from investing activities was -¥42,758,351.10, compared to -¥35,236,231.51 in the same period last year, showing a worsening of about 21.5%[50] - Cash inflow from investment activities was ¥30,431,068.50, significantly lower than ¥976,454,202.69 in Q3 2018, a decrease of approximately 96.9%[50] - Cash outflow from investment activities reached ¥73,189,419.60, down from ¥1,011,690,434.20, indicating a decline of about 92.8%[50]
龙津药业(002750) - 2019 Q2 - 季度财报
2019-08-25 16:00
Financial Performance - The company's operating revenue for the first half of 2019 was CNY 131,150,326.70, a decrease of 21.77% compared to CNY 167,644,903.61 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 1,340,140.21, down 87.73% from CNY 10,922,513.14 year-on-year[16]. - The net cash flow from operating activities was negative CNY 4,963,475.28, a decline of 216.98% compared to CNY 4,242,959.78 in the previous year[16]. - Basic earnings per share decreased by 87.91% to CNY 0.0033 from CNY 0.0273 in the same period last year[16]. - Operating profit was 3.54 million yuan, down 71.30% year-on-year, while total profit also fell by 71.3% to 3.55 million yuan[34]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 781,674.50 compared to a profit of CNY 586,172.02 in the previous year, representing a decrease of 233.35%[16]. - The company achieved a sales revenue of 131 million yuan, a decrease of 21.77% compared to the same period last year[34]. - The company reported a net profit of CNY 122,624.95 for the period, while Yunnan Zhongke Longjin Biotechnology Co., Ltd. incurred a net loss of CNY 66,297.86[58]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 774,981,883.62, a decrease of 1.60% from CNY 787,549,742.85 at the end of the previous year[16]. - The total liabilities decreased to CNY 107,686,140.61 from CNY 131,616,795.52, indicating a decline of approximately 18.1%[116]. - The company's total current assets decreased to CNY 455,681,740.37 from CNY 472,569,549.40, reflecting a reduction of about 3.6%[114]. - Cash and cash equivalents increased to 385,287,843.91 RMB, representing 49.72% of total assets, up from 28,713,597.37 RMB (3.72%) in the previous year, a 46% increase[47]. - Accounts receivable decreased to 32,031,633.42 RMB, accounting for 4.13% of total assets, down from 39,000,452.50 RMB (5.06%) in the previous year, a decrease of 0.93%[47]. - Inventory decreased to 28,714,347.02 RMB, representing 3.71% of total assets, down from 31,412,876.29 RMB (4.07%), a decrease of 0.36%[48]. - Long-term equity investments decreased to 22,090,611.62 RMB, accounting for 2.85% of total assets, down from 25,565,954.31 RMB (3.32%), a decrease of 0.47%[48]. - Fixed assets decreased to 195,387,186.09 RMB, representing 25.21% of total assets, down from 213,441,599.59 RMB (27.68%), a decrease of 2.47%[48]. Equity and Shareholder Information - The total equity of the company increased to CNY 667,295,743.01 from CNY 655,932,947.33, indicating a growth of approximately 1.9%[116]. - The total equity attributable to the parent company at the end of the reporting period was 648,735,449.88[138]. - The total equity attributable to the parent company at the end of the previous year was CNY 645,540,206.29[143]. - The total number of shares is 400,500,000, with 3,211,674 shares (0.80%) being limited sale shares and 397,288,326 shares (99.20%) being unrestricted sale shares[95]. - The largest shareholder, Kunming Qunxing Investment Co., Ltd., holds 43.37% of the shares, totaling 173,693,000 shares, with a decrease of 1,807,000 shares during the reporting period[98]. - The second largest shareholder, Lixing Industrial Co., Ltd., holds 23.29% of the shares, totaling 93,260,069 shares, with a decrease of 1,239,931 shares during the reporting period[98]. - The total number of shareholders at the end of the reporting period is 34,806[98]. Research and Development - The company’s research and development expenses increased by 18.92% to RMB 17,581,062.04, up from RMB 14,783,467.88 in the previous year[39]. - Research and development expenses for the first half of 2019 were CNY 9,997,225.11, a decrease from CNY 13,350,991.91 in the same period of 2018[122]. - The company is developing new drugs for chronic diseases, focusing on cardiovascular and metabolic conditions[64]. - The company’s core product received GRAS certification in the U.S. and has submitted supplementary applications for clinical trials to the National Medical Products Administration[36]. Operational Strategies and Initiatives - The company conducted over 600 online departmental meetings to strengthen the core positioning of its main product and optimize sales management[35]. - The company developed over 240 target hospitals, with 76% being secondary or higher-level hospitals, and established self-operated offices in several provinces[35]. - The company initiated the "Dragon Plan" for talent cultivation and management efficiency improvement[36]. - The company is actively seeking investment projects but does not expect significant benefits in the short term[63]. - The company is implementing measures to stabilize existing product market size while expanding new products and businesses[63]. Compliance and Governance - The company adheres to the accounting standards and ensures that the financial statements reflect a true and complete picture of its financial status[163]. - The company has maintained its ability to continue as a going concern for at least 12 months from the report date[161]. - The company operates under the supervision of national drug regulatory authorities, ensuring compliance with safety standards[157]. - The financial report was approved by the board of directors on August 23, 2019[159]. Miscellaneous - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - There were no major litigation or arbitration matters during the reporting period[74]. - The company has no major environmental protection issues and is not listed as a key pollutant discharge unit[87]. - The company has not disclosed any new product developments or market expansion strategies in the provided financial report[110].