TONGHUA GOLDEN-HORSE(000766)2022-04-18 16:00Financial Performance - The company's operating revenue for 2021 was ¥1,515,482,473.31, an increase of 36.31% compared to ¥1,111,802,396.45 in 2020[12]. - The net profit attributable to shareholders for 2021 was ¥35,273,252.71, a 109.81% increase from a loss of ¥359,496,105.33 in 2020[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥20,304,105.76, up 104.82% from a loss of ¥421,277,176.76 in 2020[12]. - The net cash flow from operating activities for 2021 was ¥138,329,704.76, representing a 71.40% increase from ¥80,705,132.34 in 2020[12]. - The total assets at the end of 2021 were ¥4,640,791,421.63, a decrease of 6.76% from ¥4,977,076,111.43 at the end of 2020[12]. - The company reported a weighted average return on equity of 1.54% for 2021, compared to -14.62% in 2020[12]. - The company achieved a total revenue of ¥1,515,482,473.31, representing a year-on-year growth of 36.31%[25]. - The net profit attributable to shareholders reached ¥35,273,252.71, marking a significant increase of 109.81% compared to the previous year[24]. - The revenue from traditional Chinese medicine amounted to ¥610,540,935.78, which is 40.29% of total revenue and reflects a growth of 55.31% year-on-year[25]. - The revenue from chemical drugs was ¥900,175,655.09, accounting for 59.40% of total revenue, with a year-on-year increase of 26.24%[25]. Research and Development - The company has focused on talent development, emphasizing a younger and more professional management team to support future growth[24]. - The company has implemented comprehensive quality management practices to ensure compliance with GMP standards across all production processes[24]. - The company’s R&D expenses increased by 26.20% to 63,515,492.26 yuan in 2021[33]. - Research and development (R&D) investment amounted to ¥76,137,717.71, representing a 31.46% increase from ¥57,916,518.70 in the previous year[36]. - The number of R&D personnel decreased by 3.25% to 327, while the proportion of R&D personnel in the total workforce increased to 18.66% from 16.98%[36]. - The company is investing heavily in R&D, with a budget allocation of 10 million yuan for developing new technologies and products in the upcoming year[82]. - The company aims to enhance its R&D capabilities and product portfolio, focusing on the development of Amber Dihydroaminoacridine tablets and accelerating the progress of generic drug research[61]. - The company is conducting Phase III clinical trials for its key R&D project, aiming to develop a treatment for Alzheimer's disease[34]. Operational Strategy - The company operates in the pharmaceutical manufacturing industry, focusing on research, production, and sales of various medical products, including oncology, cardiovascular, and gastrointestinal drugs[20]. - The company has implemented a "production based on sales" model, aligning production plans with sales forecasts and inventory levels to enhance operational efficiency[21]. - The new sales system has led to a significant increase in main business revenue, reflecting the company's adaptation to changes in national drug policies and market trends[21]. - The company has established a comprehensive management mechanism across procurement, production, sales, quality control, and R&D, ensuring high decision-making efficiency[23]. - The management team is experienced and multidisciplinary, ensuring effective strategic planning and execution in a rapidly changing market environment[23]. - The company plans to optimize production quality management and improve supply chain integration to ensure the availability of all sales varieties[61]. - The company has strengthened its internal control systems and cost management to enhance operational efficiency and risk prevention[24]. Market Position and Growth - The company plans to focus on product layout and accelerate technological innovation to enhance market competitiveness in response to industry trends and policy changes[18]. - The company anticipates continued growth in the pharmaceutical market driven by population growth, aging demographics, and increased health awareness[60]. - The company is focused on becoming a comprehensive health manufacturing entity, integrating traditional Chinese medicine, biological drugs, and chemical drugs[60]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the healthcare sector[82]. - A new product line is set to launch in Q2 2022, expected to contribute an additional 5 million yuan in revenue within the first year[82]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[116]. - The company provided a positive outlook for 2022, projecting a revenue growth of 25% based on new product launches and market expansion strategies[118]. Governance and Compliance - The company has established a robust internal control system to ensure compliance with financial regulations and effective governance[71]. - The company maintains independent operations and decision-making processes, ensuring no undue influence from major shareholders[67]. - The company has a complete and standardized operational system for research and development, production, and sales of pharmaceutical products, demonstrating its independent market operation capability[71]. - The company has a performance-based compensation policy linked to individual capabilities and performance management[96]. - The company has not engaged in significant related-party transactions with its controlling shareholder or other enterprises under its control[71]. - The company has established an independent personnel management department and a complete personnel management system, ensuring that senior management does not hold positions in the controlling shareholder's enterprises[70]. Environmental Responsibility - The company has committed to environmental protection as a key part of its sustainable development strategy, focusing on reducing energy consumption and enhancing resource efficiency[113]. - The company has successfully passed environmental assessments for its raw material workshop renovation project, ensuring compliance with environmental standards[111]. - The company reported a total COD discharge of 2.41 tons and ammonia nitrogen discharge of 0.026 tons in 2021[107]. - The company achieved a 100% compliance rate for wastewater treatment in 2021, processing a total of 127,831 tons of wastewater with an average COD concentration of 18.19 mg/L and ammonia nitrogen concentration of 0.207 mg/L[109]. - The company has implemented a solid waste management system, effectively handling hazardous waste and other solid waste, with all waste disposed of in compliance with regulations[110]. Shareholder Information - The company plans not to distribute cash dividends, nor issue bonus shares, or increase capital from reserves[2]. - The total number of shares outstanding is 966,494,707, with 26.85% being restricted shares and 73.15% being unrestricted shares[162]. - The largest shareholder, Beijing Jinshang Alliance Investment Management Co., Ltd., holds 23.91% of the shares, totaling 231,064,944 shares, with a decrease of 10,400 shares during the reporting period[165]. - The company has not issued any new securities during the reporting period[164]. - The company has a cash dividend policy in place, with no adjustments made during the reporting period, and plans to not distribute cash dividends or issue bonus shares[98].