CDBIO(688739)2023-04-07 16:00R&D Investment and Innovation - The company applied for 61 new intellectual property rights during the reporting period, including 27 invention patent applications and received 23 patent authorizations[4]. - Total R&D investment amounted to approximately CNY 303.13 million, a decrease of 2.65% compared to the previous year, with capitalized R&D investment increasing by 24.43% to CNY 91.67 million[5]. - The proportion of total R&D investment to operating income increased by 1.79 percentage points to 16.70%[5]. - The company has a total of 183 R&D personnel, with an average salary of CNY 19.15 million, up from CNY 17.61 million in the previous year[8]. - The company is actively developing multiple vaccine platforms, including bacterial, viral, and multivalent vaccines, with a focus on innovative combined vaccines[12]. - The company has completed the construction of its recombinant protein vaccine technology platform and is researching various vaccine types, including B group meningococcal vaccines[12]. - The company is actively exploring the construction of an mRNA vaccine technology platform, alongside its existing platforms, to enhance its R&D capabilities[16]. - The company has established three major R&D technology platforms: bacterial vaccines, viral vaccines, and multi-valent vaccines, with nearly 200 R&D personnel in dedicated centers in Beijing and Shenyang[16]. - The company is advancing several vaccine projects, including the quadrivalent chicken embryo influenza virus split vaccine and the freeze-dried human rabies vaccine, both in phase III clinical trials[39]. - The company is advancing multiple vaccine projects, including the b-type influenza vaccine and the 20-valent pneumococcal conjugate vaccine, which are in various clinical stages[52]. - The company is focusing on core human vaccine business and actively exploring new vaccine varieties, technologies, and platforms for investment and R&D cooperation opportunities[198]. Market Performance and Sales - The main products sold during the reporting period were human rabies vaccine (Vero cells) and human inactivated Japanese encephalitis vaccine (Vero cells), with a decline in revenue for the rabies vaccine due to market competition and environmental factors[31]. - Revenue from the human inactivated Japanese encephalitis vaccine significantly increased compared to the previous year, attributed to the completion of workshop system upgrades and gradual market recovery[31]. - Domestic sales of the human rabies vaccine decreased due to declining demand and intensified competition, while the Japanese encephalitis vaccine contributed positively to sales performance[31]. - The company has administered over 400 million doses of its rabies vaccine, with a user base exceeding 100 million, highlighting its market penetration[30]. - The company maintained its leading position in the human rabies vaccine market, which contributed to stabilizing its operational performance amid competitive pressures[194]. - The company focused on enhancing sales promotion for human rabies vaccines in the second half of the year, resulting in a noticeable recovery in sales towards the end of the year[167]. Financial Performance - The company's operating revenue for 2022 was ¥1,814,998,630.37, a decrease of 13.08% compared to ¥2,088,043,469.78 in 2021[156]. - The net profit attributable to shareholders for 2022 was ¥714,020,336.78, down 20.00% from ¥892,490,658.44 in the previous year[156]. - The net profit after deducting non-recurring gains and losses was ¥665,235,943.06, a decrease of 22.87% compared to ¥862,518,502.00 in 2021[156]. - The net cash flow from operating activities was ¥546,491,870.30, an increase of 7.92% from ¥506,376,172.18 in 2021[156]. - The company's total assets at the end of 2022 were ¥10,055,750,519.36, reflecting a 2.69% increase from ¥9,792,731,456.06 at the end of 2021[156]. - The net assets attributable to shareholders increased by 3.18% to ¥9,649,585,884.87 from ¥9,352,015,548.09 in 2021[156]. - The basic earnings per share for 2022 were ¥1.71, a decrease of 26.92% from ¥2.34 in 2021[156]. - The diluted earnings per share also stood at ¥1.71, reflecting a decrease of 26.92% compared to ¥2.34 in the previous year[156]. Risk Management and Compliance - The company faces risks related to long-term technology iteration, emphasizing the need for continuous R&D investment to maintain its competitive edge[21]. - The company is implementing measures to mitigate risks from intensified market competition, including optimizing its marketing network and enhancing brand recognition[30]. - The company has established a comprehensive management mechanism for cooperation with global academic institutions and enterprises to ensure efficient project collaboration[16]. - The company emphasizes compliance and risk management to enhance its ability to respond to regulatory requirements[65]. - The company has outlined various risks and countermeasures in the management discussion and analysis section of the report[127]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[132]. Corporate Governance and Management - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and senior management to ensure effective internal control[67]. - The company organized 2 shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations to protect shareholders' rights[105]. - The company has not reported any special arrangements for corporate governance in the annual report[142]. - The company is focusing on talent management and recruitment to strengthen its workforce and improve organizational structure[65]. - The company has optimized its compensation management system and promoted performance management, significantly boosting employee motivation[199]. - The company is increasing recruitment efforts for high-quality talent and advancing the construction of a reserve cadre team for long-term development[199]. Production and Quality Management - The company has completed Phase I clinical trials for the ACYW135 meningococcal polysaccharide conjugate vaccine and the varicella live attenuated vaccine[77]. - The company successfully obtained approval for the inactivated Japanese encephalitis vaccine pre-filled syringe formulation, expanding its product offerings to meet market demand[194]. - The company completed the system upgrade of the Japanese encephalitis inactivated vaccine workshop, improving production efficiency and successfully starting commercial production[199]. - The company maintained its leading position in the human rabies vaccine market with 515 million doses released, comprising 227 batches[199]. - The company is committed to continuous improvement in quality management to ensure stable vaccine production[199]. - The company successfully passed five GMP inspections by provincial and higher-level drug regulatory authorities, achieving a 100% batch release rate for its vaccine products[199].