JINGXIN(002020)2025-04-02 10:45Financial Performance - The company's operating revenue for 2024 reached ¥4,158,550,673.09, representing a 3.99% increase compared to ¥3,998,835,219.87 in 2023[21] - Net profit attributable to shareholders increased by 15.04% to ¥711,961,458.77 in 2024 from ¥618,898,033.74 in 2023[21] - The net profit after deducting non-recurring gains and losses rose by 21.38% to ¥647,009,586.63 in 2024 compared to ¥533,039,855.27 in 2023[21] - Basic earnings per share increased by 15.28% to ¥0.83 in 2024 from ¥0.72 in 2023[21] - Total assets at the end of 2024 amounted to ¥8,479,313,218.60, a 6.17% increase from ¥7,986,556,907.16 at the end of 2023[21] - The company's net assets attributable to shareholders grew by 8.29% to ¥5,969,508,653.97 at the end of 2024 from ¥5,512,374,486.23 at the end of 2023[21] - Cash flow from operating activities decreased by 8.41% to ¥726,161,370.81 in 2024 from ¥792,838,365.93 in 2023[21] - The weighted average return on equity increased by 0.79 percentage points to 12.45% in 2024 from 11.66% in 2023[21] Revenue Breakdown - The company achieved a total revenue of 4.16 billion yuan in 2024, representing a year-on-year growth of 3.99%[64] - The revenue from finished pharmaceuticals was 2.52 billion yuan, an increase of 8.42% year-on-year, while raw material drug revenue decreased by 8.37% to 876 million yuan[57] - The medical device segment generated revenue of 687 million yuan, marking a year-on-year growth of 7.84%[61] - The company's main business revenue reached ¥4,085,821,269.79, an increase of 4.23% year-on-year, with a gross margin of 50.05%[66] - The pharmaceutical manufacturing segment generated revenue of ¥3,398,588,387.64, with a gross margin of 53.11%, reflecting a 3.53% increase in revenue year-on-year[66] Research and Development - The company invested 383 million yuan in R&D, focusing on innovative drugs, including the successful clinical trial progress of JX11502MA capsules[59] - The company has a robust R&D strategy focusing on innovative drugs in the CNS and cardiovascular fields, with a pipeline that includes over 10 ongoing innovative drug projects[50] - The company has accumulated a total of 222 patents, including 156 invention patents, reflecting its strong R&D capabilities and innovation[47] - The company aims to enhance its CNS pipeline with new products, including JX11502MA capsules and other innovative drugs currently in clinical trials[75] - The company is focusing on expanding its product line and enhancing competitiveness through the development of generic drugs and new technologies[75] Market Position and Strategy - The company has established a strong market position in the CNS field, with the innovative drug Jingnuoning® (Dazisni Capsule) expected to launch in March 2024 and enter the medical insurance payment directory by November 2024[43] - The company has a complete pharmaceutical industry chain from raw materials to finished products, enhancing its cost advantages and market competitiveness[51] - The company has a well-established marketing network covering commercial channels, retail pharmacies, and hospitals, with a growing presence in e-commerce platforms[52] - The company is actively involved in the development of medical devices, including customized medical displays and imaging solutions[34] - The company aims to improve internal management quality and operational efficiency to achieve healthy growth in revenue and net profit[31] Operational Efficiency - The company adopts a sales-driven production model, maintaining appropriate safety stock and formulating annual and monthly production plans based on sales forecasts[36] - The overall product structure has been optimized, leading to stable growth in the profitability of the main business[33] - The company has established a procurement model that combines centralized purchasing and subsidiary self-purchasing to ensure quality and cost control[35] - Sales expenses decreased by 11.65% to ¥692,264,053.54, attributed to improved efficiency and enhanced cost control[74] - The company's inventory increased by 33.14% year-on-year to ¥364,023,295.62, primarily due to increased procurement for centralized purchasing[67] Corporate Governance - The company maintains an independent governance structure, with a board of nine directors, including three independent directors, ensuring compliance with legal requirements[114] - The company has established a performance evaluation and incentive mechanism for its directors and managers, promoting transparency and compliance with regulations[117] - The company operates independently from its controlling shareholder in terms of business, personnel, assets, and financial management, ensuring complete operational autonomy[122] - The company has a dedicated internal audit department to oversee financial reporting and internal controls, ensuring compliance and risk management[120] - The company has not experienced any significant deviations from the governance standards set by regulatory authorities[121] Environmental Responsibility - The company has implemented environmental protection policies in compliance with national laws and regulations[175] - The company has a commitment to prioritize environmental protection while developing its production capabilities[175] - The company has established two wastewater treatment plants with a total daily processing capacity of 1,600 tons, utilizing a comprehensive treatment process to ensure compliance with discharge standards[179] - The company has invested CNY 45.115 million in environmental governance and protection for the year 2024, and paid CNY 287,000 in environmental protection tax[184] - The company has no major environmental issues and is not listed as a key pollutant discharge unit by environmental authorities[175] Employee and Talent Management - The total number of employees at the end of the reporting period is 3,869, with 1,312 in the parent company and 2,557 in major subsidiaries[154] - The company allocated 2.5 million RMB for training in 2024, with a total of 16,314 training participants and 36,364.6 training hours[157] - The company has implemented a performance evaluation system for senior management, assessing based on work ability and completion of objectives[162] - The company has a competitive compensation and benefits system to attract and retain talent, aligned with national laws and regulations[156] - The company is focused on talent development to match its growth needs, implementing internal training and external recruitment strategies[107] Legal and Compliance - The company has not faced any penalties or rectification issues during the reporting period[200] - The company has made changes to its accounting policies in accordance with new regulations issued by the Ministry of Finance, effective January 1, 2024, which will not significantly impact its financial status[193] - The company has engaged Lixin Certified Public Accountants for internal control audit services at a cost of 200,000 CNY[196] - There are ongoing arbitration proceedings with Youlin Biotechnology Co., Ltd., with a claim amount of 8,029,100 CNY, which has been recognized as a liability[199] - The company has filed for international commercial arbitration seeking compensation of 12,282,100 CNY plus interest from Youlin Biotechnology[199]