JOINN(603127)2025-03-28 16:35Financial Performance - The company's operating revenue for 2024 was CNY 2,018,333,771.81, a decrease of 15.07% compared to CNY 2,376,486,797.10 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 74,075,384.59, representing an 81.34% decline from CNY 396,992,565.79 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 23,573,407.86, down 93.02% from CNY 337,564,742.86 in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 338,928,718.40, a decrease of 45.59% compared to CNY 622,875,138.44 in 2023[23]. - The total assets at the end of 2024 were CNY 9,396,152,610.45, a decrease of 6.29% from CNY 10,027,159,630.47 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were CNY 8,078,818,586.72, down 2.42% from CNY 8,279,315,724.35 at the end of 2023[23]. - Basic earnings per share for 2024 were CNY 0.10, a decrease of 81.13% from CNY 0.53 in 2023[24]. - Diluted earnings per share for 2024 were also CNY 0.10, reflecting the same percentage decrease of 81.13% from CNY 0.53 in 2023[24]. - The weighted average return on net assets for 2024 was 0.91%, a decrease of 3.91 percentage points from 4.82% in 2023[24]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period[8]. - The company has detailed potential risks in the report, which investors should be aware of[8]. - The company has a comprehensive risk statement regarding future plans and development strategies[7]. - The company faces risks from fluctuating international economic conditions, regulatory compliance, talent acquisition, and market competition, which could impact its business performance[149][151]. - The company emphasizes the importance of maintaining core competitive advantages amid increasing competition in the non-clinical CRO industry, which could affect profitability if not addressed[151]. Governance and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[5]. - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[3]. - The company is committed to improving its governance structure and ensuring transparent information disclosure to protect shareholder interests[153][158]. - The company has not reported any significant differences in governance compared to regulatory standards, indicating a stable governance framework[159]. - The company is committed to enhancing its governance practices in line with regulatory requirements, ensuring compliance with the China Securities Regulatory Commission[159]. Shareholder Relations - The company plans to distribute a cash dividend of 0.3 yuan per 10 shares to all shareholders, based on the total share capital after deducting repurchased shares[6]. - The total compensation for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to CNY 1,221.40 million[170]. - The company has established a robust communication platform for investor engagement, which has improved investor understanding of the company's operations[159]. - The company maintained a strong investor relations management strategy, enhancing transparency and communication with investors through various channels[159]. Research and Development - The company is focusing on enhancing its research capabilities and expanding its market presence in the pharmaceutical sector[16]. - The company aims to create a leading genetic resource and gene engineering technology platform for new drug development[80]. - The company has developed various ocular disease models and enhanced evaluation methods for ophthalmic drugs, addressing diverse market needs[40]. - The company has improved its drug evaluation methods for CNS drugs, establishing new administration methods and behavioral evaluation techniques[41]. - The company is committed to continuous innovation in drug evaluation technologies, particularly in non-clinical safety assessments[94]. Market Expansion and Strategy - The company plans to strengthen technology and business innovation despite the slowdown in market demand and intensified competition in the domestic pharmaceutical industry[35]. - The company aims to actively expand its customer base, with both the number of new customers and new signed projects showing growth[36]. - The company is exploring potential acquisitions to enhance its market position, with a budget of $50 million allocated for this purpose[163]. - The company plans to enhance its early clinical brand building by leveraging existing non-clinical business resources and expert team experience to provide precise clinical development strategies for innovative drug projects[145]. Operational Efficiency - The company has optimized its organizational structure and management systems to enhance operational efficiency and has built a professional service team of 2,652 members[56]. - The company has successfully reduced operational costs by 5%, improving overall profit margins[163]. - The company has implemented a salary policy based on performance, with salary increases tied to the company's operational performance[186]. - The company conducted over a thousand training sessions in 2024 to enhance employee skills and management capabilities[187]. Financial Management - The company reported a net cash outflow from investment activities of RMB -1,963,023,985.54, primarily due to increased purchases of financial products[110]. - The total R&D expenditure for the period was RMB 92,918,280.66, accounting for 4.60% of the operating revenue[124]. - The company has established a strict procurement management system to ensure the quality of experimental models and related supplies[74]. - The company has a robust cash dividend policy, ensuring compliance with the company charter and protecting minority shareholders' rights[191].