JINYU(SH:600201)2023-04-20 16:00Financial Performance - In 2022, the company achieved operating revenue of CNY 1,528,669,256.29, a decrease of 13.94% compared to CNY 1,776,317,811.37 in 2021[39]. - The net profit attributable to shareholders was CNY 210,676,539.06, down 44.89% from CNY 382,286,663.10 in the previous year[39]. - The net profit after deducting non-recurring gains and losses was CNY 196,152,187.97, a decline of 47.08% compared to CNY 370,633,265.99 in 2021[39]. - The net cash flow from operating activities was CNY 344,650,092.40, down 35.35% from CNY 533,084,549.84 in the previous year[39]. - The company's total assets at the end of 2022 were CNY 6,389,335,025.55, a decrease of 3.25% from CNY 6,603,925,651.78 at the end of 2021[39]. - The net assets attributable to shareholders decreased by 3.79% to CNY 5,072,201,306.08 from CNY 5,272,250,740.06 in 2021[39]. - Basic earnings per share decreased by 44.12% to ¥0.19 in 2022 from ¥0.34 in 2021[73]. - The weighted average return on equity decreased by 3.43 percentage points to 3.96% in 2022 from 7.39% in 2021[73]. Research and Development - The company’s R&D investment reached 203 million CNY, accounting for 13.30% of total revenue, with 134 million CNY in expense-based R&D (65.77%) and 70 million CNY in capitalized R&D (34.23%) in 2022[77]. - The company has established an integrated R&D platform for African swine fever vaccines, with significant breakthroughs in subunit and mRNA vaccine development, demonstrating strong safety and efficacy[77]. - The company is advancing the development of multi-valent vaccines, with several new vaccines entering clinical trial application stages in 2023[78]. - The company has optimized its distribution channels and enhanced its marketing team to improve market penetration and sales of non-foot-and-mouth disease products[79]. - The company is focusing on innovation-driven development in the biopharmaceutical industry, aligning with national strategies for agricultural modernization[82]. - The company is committed to improving its market insight and enhancing its technical service capabilities to achieve sustainable development and increase profitability[151]. - The company is focusing on developing vaccines for African swine fever, having submitted an emergency evaluation application for a subunit vaccine to the Ministry of Agriculture and Rural Affairs[152]. Market and Competition - The company reported a significant decline in revenue due to increased market competition and challenges from the African swine fever prevention environment[43]. - The company aims to enhance its international presence and transition from a production-oriented enterprise to an independent R&D innovation enterprise, increasing investment in R&D platforms[151]. - The overall market for animal vaccines is expected to grow due to the implementation of health farming policies and the demand for vaccine alternatives to pharmaceuticals[177]. - The company plans to enhance its marketing capabilities by developing differentiated epidemic prevention solutions based on customer needs, supported by a robust R&D and production collaboration[180]. Governance and Compliance - The company emphasizes strict compliance with corporate governance and information disclosure regulations to protect shareholder interests[156]. - The company has not experienced any incidents of insider information leakage or insider trading during the reporting period[158]. - The company has established a new independent board member, enhancing its governance structure[171]. - The company’s governance structure includes a clear decision-making process for the remuneration of directors and senior management[193]. Strategic Initiatives - The company has implemented a flexible business strategy to enhance customer engagement and improve market share amid increasing competition[84]. - The company aims to achieve full coverage of large-scale breeding farms by the end of 2022, as per the national guidelines for animal disease prevention[82]. - The company is preparing for market opportunities arising from the "first vaccination, then compensation" policy, enhancing its operational efficiency across various departments[180]. - The company has established a strategy to mitigate the negative impact of the pig cycle on its revenue structure[152]. Dividend and Financial Reporting - The company plans to distribute a cash dividend of 0.60 yuan (including tax) for every 10 shares to all shareholders[18]. - The company has received a standard unqualified audit report from the accounting firm[4]. - The company’s financial report is signed and sealed by the legal representative and accounting personnel, ensuring its authenticity and completeness[21]. - The company’s stock is listed on the Shanghai Stock Exchange, with relevant disclosures made in major financial newspapers[25].