RINGPU(300119)2024-03-29 16:00Financial Performance - The company's operating revenue for 2023 was ¥2,248,962,053.98, representing a 7.90% increase compared to ¥2,084,250,399.00 in 2022[23]. - Net profit attributable to shareholders for 2023 was ¥452,942,064.27, a 30.64% increase from ¥346,698,684.97 in 2022[23]. - The net profit after deducting non-recurring gains and losses was ¥318,420,957.50, up 13.43% from ¥280,715,394.08 in 2022[23]. - The total assets at the end of 2023 reached ¥6,595,941,501.08, an 8.02% increase from ¥6,106,273,672.25 at the end of 2022[23]. - The basic earnings per share for 2023 was ¥0.9772, a 30.50% increase compared to ¥0.7488 in 2022[23]. - The company reported a net cash flow from operating activities of ¥378,196,328.60, a slight decrease of 2.90% from ¥389,486,980.07 in 2022[23]. - The company achieved a revenue of 2.249 billion yuan in 2023, representing a year-on-year growth of 7.90%[88]. - The net profit attributable to the parent company was 453 million yuan, an increase of 30.64% compared to the previous year[88]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was 318 million yuan, up 13.43% year-on-year[88]. Market Position and Strategy - The company has a strategic focus on expanding its market presence and enhancing its product development capabilities[4]. - The company aims to strengthen its market position through strategic expansions and potential acquisitions in the veterinary medicine industry[50]. - The company is focusing on the pet health market, with plans to establish itself as a leading domestic brand, leveraging the growing pet population and market potential[73]. - The company is actively pursuing research and development of innovative veterinary products to meet the growing market demand and enhance its competitive edge in the industry[122]. - The company is committed to enhancing its supply chain advantages and improving production processes to reduce costs across all supply chain nodes[153]. - The company intends to deepen its poultry business and increase vaccine sales to further improve market share[153]. - The company is focusing on the pet industry, aiming to become a globally recognized brand by enriching its industry chain layout and building a channel ecosystem[153]. Research and Development - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[4]. - The company has a strong R&D team, including 8 national-level talents and 23 provincial-level experts, enhancing its innovation capabilities across various scientific fields[74]. - R&D investment increased from 15.16 million in 2021 (7.55% of revenue) to 23.28 million in 2023 (10.35% of revenue), driving product innovation and market expansion[71]. - The company has developed multiple key technology platforms for drug research, including new drug design and screening, which have led to dozens of innovative inventions in new drug crystal forms and compound structures[80]. - The company has established long-term cooperative relationships with over 30 renowned research institutions, enhancing its innovation capabilities[76]. - The company has made significant advancements in mRNA vaccine development, with multiple products in strategic planning, enhancing its competitive edge in the market[78]. - The company is advancing its IPD R&D system transformation, focusing on product competitiveness and optimizing product launch processes for new products such as cat vaccines and antibiotics[155]. Product Development and Innovation - The company has obtained 15 new veterinary drug registration certificates for pets, including the first domestic cat trivalent vaccine, "Rui Miao Shu," which broke the reliance on imported vaccines[47]. - The company has developed a new generation of high-temperature resistant β-mannanase enzyme, enhancing gut health and nutrient utilization[54]. - The company’s new feed additive enzyme can improve nutrient absorption efficiency and save over 50 kcal/kg of feed energy[54]. - The company has successfully developed the "Porcine Circovirus Type 2 Genetic Engineering Subunit Vaccine," which is the first of its kind for the company and is currently in the new veterinary drug product approval stage[119]. - The company has developed a dual live vaccine for the prevention of Newcastle disease and infectious bronchitis, which can be stored at 2-8°C for up to 24 months, addressing significant challenges in poultry farming[121]. - The company has developed a bivalent yolk antibody for the emergency prevention of duck viral hepatitis, enhancing its therapeutic antibody offerings for waterfowl[121]. - The company has successfully developed a new canine parvovirus serum, which induces endogenous interferon production and promotes antibody formation, filling a gap in the pet product line and addressing market needs[122]. Risks and Challenges - The company faces risks including animal epidemic risks, market competition risks, talent loss risks, and product development risks[4]. - The company is facing risks from animal epidemics, market competition, and potential talent loss, which could impact its operational performance[161][162][164]. - The company emphasizes the importance of a stable R&D team, as high-end talent is crucial for maintaining competitive advantages in the veterinary vaccine market[164]. - The company has implemented a cautious customer credit policy and established a bad debt provision policy based on industry comparisons and historical sales recovery data[167]. Governance and Management - The company maintains an independent business operation, with its board of directors, supervisory board, and internal institutions operating independently from the controlling shareholder[176]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[176]. - The company has established a performance evaluation and incentive system for its directors and senior management, ensuring transparency and compliance with regulations[183]. - The company has strengthened investor relations management and communication to protect the rights of investors, especially minority shareholders[173]. - The company has a structured approach to shareholder meetings, ensuring adequate time for shareholders to express their opinions and separate voting for minority shareholders on significant matters[174]. Awards and Recognition - The company has received multiple awards for its research and development efforts, including two National Science and Technology Progress Awards (second class) and several local awards[196]. - The company has been recognized as a leader in the industry, receiving accolades for its contributions to agricultural biotechnology and veterinary medicine[196]. - The company participated in the 17th China Listed Company Value Evaluation Activity and was recognized as one of the "Top 50 Value Companies on the Growth Enterprise Market"[173].