CR Double-Crane(600062)2022-03-24 16:00Financial Performance - The total revenue for 2021 was CNY 9,111,516,930.74, representing a 7.14% increase compared to CNY 8,503,938,229.78 in 2020[16]. - The net profit attributable to shareholders of the listed company decreased by 6.91% to CNY 935,685,482.77 from CNY 1,005,161,634.08 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was CNY 870,334,660.51, down 9.56% from CNY 962,334,953.03 in 2020[16]. - The cash flow from operating activities was CNY 1,340,920,963.61, a slight decrease of 1.41% compared to CNY 1,360,158,210.19 in 2020[16]. - The total assets increased by 10.14% to CNY 13,676,050,322.84 at the end of 2021, up from CNY 12,416,486,664.94 at the end of 2020[16]. - The basic earnings per share for 2021 was CNY 0.8969, down 6.91% from CNY 0.9635 in 2020[17]. - The weighted average return on equity decreased by 1.49 percentage points to 9.78% from 11.27% in the previous year[17]. - The gross profit margin for the overall business was 55.91%, a decrease of 7.67 percentage points from the previous year[34]. - The operating cost increased by 28.13% to CNY 4.03 billion from CNY 3.15 billion, leading to a decrease in overall gross margin[32]. Research and Development - The company established a three-tier R&D system and significantly increased R&D investment in 2021, resulting in notable R&D achievements[22]. - The company launched an innovation division focused on acquiring innovative drugs and technologies, successfully introducing two Class 1 innovative drugs in less than a year[22]. - Research and development expenses rose by 40.74% to CNY 409.59 million, attributed to increased investment in product layout[32]. - The company has over 120 ongoing research and development projects, focusing on generic drugs and consistency evaluation[59]. - The company established an innovation division in 2021 to enhance its research and development capabilities, focusing on high-end generics and innovative drugs[59]. - The company is committed to increasing its R&D efforts and collaborating with external research institutions to enhance its product line[53]. Market and Business Strategy - The company aims to leverage digital marketing strategies to enhance the promotion of chronic disease products, ensuring competitive advantages[27]. - The company plans to expand its specialty business through self-research, product collaboration, and acquisitions[27]. - The company is focusing on the development of biosimilars, with two new products expected to enter the market by the end of 2022[93]. - The company plans to continue expanding its business operations and has approved a proposal for daily related transactions in 2021[89]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, targeting a completion date by Q3 2022[103]. - The company aims to maintain a competitive edge by adjusting its product structure and enhancing quality through innovation in response to the challenges posed by centralized procurement policies[84]. Governance and Compliance - The company has established a governance structure that ensures clear responsibilities and effective supervision, complying with relevant laws and regulations[86]. - The company has implemented a performance-oriented evaluation and incentive mechanism, linking executive compensation to the achievement of annual operational goals[87]. - The company has developed a comprehensive internal control management system to enhance operational efficiency and risk compliance[87]. - The company has established specialized committees within the board of directors to enhance decision-making and governance[86]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - The company has ensured compliance with laws and regulations regarding related party transactions, emphasizing fairness and transparency in dealings[145]. Environmental Responsibility - The company has initiated a three-year action plan for environmental protection and carbon reduction, collecting 47 projects aimed at energy saving and carbon reduction[138]. - The company has achieved environmental management system certification for 14 out of 18 production bases by the end of the reporting period[137]. - The company is classified as a key pollutant discharge unit and is subject to environmental protection regulations[129]. - The company has monitored various emissions regularly, including nitrogen oxides and wastewater pollutants, ensuring compliance with environmental standards[135]. Shareholder Information - The total number of ordinary shareholders increased from 35,417 to 39,197 during the reporting period, representing a growth of approximately 10%[166]. - Beijing Pharmaceutical Group Co., Ltd. remains the largest shareholder, holding 625,795,624 shares, which accounts for 59.99% of the total shares[167]. - The company did not experience any changes in its share capital structure during the reporting period[166]. - The company plans to repurchase between 22.1764 million and 23.5 million shares, representing 2.13% to 2.25% of the total share capital[175]. Financial Management - The company has engaged in wealth management with a total amount of RMB 1 billion, with an outstanding balance of RMB 800 million[156]. - The company has multiple wealth management products with varying annualized returns ranging from 1.40% to 5.15%[158]. - The company plans to continue its entrusted financial management strategy, indicating a commitment to maintaining liquidity and optimizing returns[160][161]. - The actual returns from entrusted financial products amounted to approximately 6.5 million CNY across different financial institutions, with the highest return being 2.26 million CNY from China Construction Bank[160][161].