maccura(300463)2024-04-24 12:21Regional Revenue Breakdown - Northeast region revenue: 225,520,785.38 RMB, accounting for 7.79% of total revenue[1] - North China region revenue: 331,306,222.13 RMB, accounting for 11.44% of total revenue[1] - East China region revenue: 517,166,191.62 RMB, accounting for 17.86% of total revenue[1] - Central China region revenue: 226,862,637.73 RMB, accounting for 7.83% of total revenue[1] - South China region revenue: 182,913,613.90 RMB, accounting for 6.32% of total revenue[1] - Northwest region revenue: 219,220,451.56 RMB, accounting for 7.57% of total revenue[1] - Southwest region revenue: 1,090,898,703.75 RMB, accounting for 37.67% of total revenue[1] - Overseas region revenue: 101,880,905.95 RMB, accounting for 3.52% of total revenue[1] Sales Channels - Direct sales revenue: 1,056,481,998.80 RMB, accounting for 36.48% of total revenue[1] - Distribution sales revenue: 1,839,287,513.22 RMB, accounting for 63.52% of total revenue[1] Product Development and R&D - The company has established a "8+1" product technology platform, including biochemistry, immunity, blood cells, coagulation, urine, molecular, blood type, pathology, and rapid testing, with 512 registered certificates for self-developed in vitro diagnostic products[22] - In 2023, the company completed the development of 30 raw materials, including 19 antibodies, 6 antigens, and 5 chemical raw materials, with a self-sufficiency rate of core raw materials exceeding 50%[22] - The company added 64 new products during the reporting period, bringing the total number of registered products to 512[28] - The company completed 71 R&D projects in 2023, with 572 projects still in progress, and invested a total of 414.02 million yuan in R&D[40] - The company's R&D team consists of 1,172 personnel, with 577 focused on clinical testing and 595 on other diagnostic areas[40] - The company's R&D investment increased by 22.34% to 414 million yuan, with R&D personnel growing by 149 to 1,172, accounting for 34.86% of total employees[88] - The company obtained 64 new domestic product registrations in 2023, bringing the total to 512, including 485 reagents and 27 instruments[119] - The company launched the LABAS MIX fully automated laboratory intelligent assembly line, integrating ten functions such as automatic quality control detection and multi-mode sample input[119] - The company added 19 new reagent product registrations for its acridinium ester direct chemiluminescence technology platform, bringing the total to 102[119] Financial Performance - The company's revenue for the four quarters of 2023 were 676.4 million, 704.3 million, 734.4 million, and 780.7 million respectively[29] - The net profit attributable to shareholders for the four quarters of 2023 were 116.9 million, 58.0 million, 93.8 million, and 43.9 million respectively[29] - The net cash flow from operating activities for the four quarters of 2023 were 167.0 million, 242.7 million, 207.4 million, and 284.4 million respectively[29] - The company's revenue for the reporting period was 2.896 billion yuan, a year-on-year decrease of 19.75%, with net profit attributable to shareholders of 313 million yuan, a year-on-year decrease of 55.86%[61] - Total operating revenue for 2023 was RMB 2,895,769,512.02, a decrease of 19.75% compared to 2022[62] - Revenue from self-developed products accounted for 64.94% of total revenue, amounting to RMB 1,880,368,645.95, a decrease of 18.67% year-over-year[62] - Revenue from agent products was RMB 981,448,342.17, accounting for 33.89% of total revenue, a decrease of 21.87% compared to 2022[62] - The company's net profit was 212,756,122.56, compared to 368,913,140.91 in the previous period[108] - The company's total comprehensive income was 199,197,097.20, compared to 384,841,761.44 in the previous period[108] - Revenue for 2023 was 2,895.77 million yuan, a decrease of 19.75% compared to the previous year[144] Market Expansion and Distribution - The company's self-developed products cover over 8,000 medical institutions nationwide, with coverage rates of 24% in secondary hospitals and 50% in tertiary hospitals[35] - The company has established partnerships with 566 distributors, and its products are available in 118 countries and regions, with overseas markets becoming a key focus for expansion[35] - The company has invested in overseas market expansion, setting up 2 overseas platform companies, 1 overseas office, and 1 overseas transit warehouse, with products covering 118 countries and regions[50] - The company has a wide marketing service network, with 12 channel subsidiaries, 17 offices, and 622 sales personnel in the domestic market, serving over 8,000 terminal customers[59] Product Sales and Inventory - The company's autonomous products achieved sales revenue of 1.714 billion yuan, a year-on-year increase of 4.92%, with 4,016 large instruments and production lines shipped to the terminal market[58] - Sales of immunodiagnostic reagents reached RMB 952 million, an increase of 18.68% year-over-year[70] - Sales of biochemical reagents were RMB 577 million, an increase of 2.54% year-over-year[70] - Sales of molecular diagnostic reagents dropped significantly to RMB 7.0451 million, a decrease of 98.79% year-over-year[70] - Inventory balance decreased by 12.7% at the end of 2023 compared to the previous year[71] - Accounts receivable balance decreased by 14.48% at the end of 2023 compared to the previous year[71] - Revenue from in vitro diagnostic products decreased by 19.75% to 2,895,769,512.02 yuan, with a gross margin of 55.27%[73] - Sales volume of diagnostic reagents dropped by 44.47% to 3.3274 million boxes, while production volume decreased by 44.57% to 3.1403 million boxes[73] - Sales volume of diagnostic instruments (large type) increased by 4.43% to 3,462 units, with production volume rising by 18.82% to 3,555 units[73] - Sales volume of diagnostic assembly lines surged by 122.15% to 351 units, with production volume increasing by 107.03% to 383 units[73] - The company achieved a total of 4,016 units (lines) of large instruments and assembly lines delivered to the market, including 189 biochemical and immune assembly lines and 162 blood assembly lines[74] - The company's diagnostic assembly line inventory increased by 77.5% to 71 units, driven by the promotion of full laboratory automation assembly lines[89] Financial Position and Assets - The company's debt-to-asset ratio decreased to 18.57% by the end of the reporting period, a reduction of 1.49 percentage points compared to the previous year[42] - The company's financing costs decreased by 7% year-on-year, with short-term and long-term loan ratios adjusted to 29%[42] - Cash and cash equivalents at the end of the period increased to 811,362,294.43 yuan, up from 564,293,033.08 yuan at the beginning of the period[110] - Net cash flow from financing activities was -152,750,581.74 yuan, compared to 930,049,187.87 yuan in the previous period[110] - Total assets at the end of the period were 8,119,249,307.93 yuan, slightly down from 8,168,350,292.26 yuan at the beginning of the period[126] - Fixed assets increased to 2,186,644,511.57 yuan from 1,979,045,213.17 yuan[126] - Short-term borrowings decreased to 144,647,498.10 yuan from 248,075,777.91 yuan[126] - The company's total equity at the end of the period was 6,611.462 million yuan[137] - The company allocated 28 million yuan for surplus reserves[135] - The company distributed 286.635 million yuan to shareholders[135] - The company's capital reserve increased by 973,812.19 yuan[135] - The company's total assets at the end of the period were 6,384.825 million yuan[137] - Inventory increased to 531,716,615.34 from 511,178,091.88, reflecting a growth of 4.02%[151] - Total current assets decreased to 4,612,719,595.24 from 4,750,174,683.29, a decline of 2.89%[151] - Long-term equity investments decreased to 1,011,979,841.96 from 1,030,817,115.07, a reduction of 1.83%[151] - Fixed assets increased significantly to 1,090,901,724.56 from 643,509,759.96, a growth of 69.53%[151] - Development expenditure rose to 35,090,057.08 from 26,227,525.22, an increase of 33.79%[151] - Cash received from sales of goods and services increased to 1,750,685,765.23 from 1,577,681,416.05, a growth of 10.97%[156] - Net cash flow from operating activities surged to 852,137,792.51 from 479,718,443.09, an increase of 77.63%[156] - Cash outflow for investments decreased to 2,608,658,144.10 from 3,305,095,470.26, a reduction of 21.07%[156] - Cash received from tax refunds increased significantly to 67,558,608.47 from 3,573,372.16, a growth of 1790.47%[156] - Total assets increased to 7,106,384,593.18 from 6,809,623,435.59, a growth of 4.36%[151] Corporate Governance and Shareholders - The company has 20 wholly-owned or controlled subsidiaries, including 12 domestic trading companies and 2 overseas trading companies, with R&D functions distributed across Chengdu, Hangzhou, Beijing, and the US[35] - The company released 80 temporary announcements and completed 59 investor research sessions in 2023[100] - The company's board consists of 9 members, including 3 independent directors[103] - The total restricted shares at the end of the reporting period were 117,119,807[104] - The number of ordinary shareholders at the end of the reporting period was 39,869, up from 38,606 at the end of the previous month[115] - The China Construction Bank-Huabao CSI Medical ETF exited the top ten shareholders, while the China Construction Bank-GF Healthcare Equity Fund was newly added[131] Quality Management and Traceability - The company has established a comprehensive quality management system, including 100,000-level clean rooms for microbial testing and barcode management for full traceability of product quality[49] - The company has established a leading metrological traceability system in the industry, being the first Chinese enterprise representative in the JCTLM international metrological traceability system[54] Product Line and Strategy - The company's products include a wide range of diagnostic platforms, such as biochemistry, immunology, hematology, and molecular diagnostics, with integrated automation solutions[34] - The company has a complete product line strategy, covering biochemical, immunological, hematological, molecular diagnostics, POCT, pathology, and raw materials, making it one of the most comprehensive IVD companies in China[54] Cost Management and Supply Chain - The company focuses on cost management, optimizing supply chain procurement and increasing the self-production rate of raw materials to reduce production costs[46] Guarantees and Subsidiaries - The total approved guarantee amount for subsidiaries during the reporting period was 143,000[95] - The actual guarantee amount issued during the reporting period was 45,022.77[95] - The total approved guarantee amount for subsidiaries at the end of the reporting period was 93,000[98] - The actual guarantee balance for subsidiaries at the end of the reporting period was 6,522.77[98] Financial Assets and Liabilities - The company's financial liabilities are initially classified as either financial liabilities measured at fair value through profit or loss or financial liabilities measured at amortized cost[181] - Financial assets measured at amortized cost include interest calculated using the effective interest method during the holding period, which is recognized in current profit or loss[183] - Financial assets measured at fair value through other comprehensive income (equity instruments) are initially measured at fair value, with related transaction costs recognized in current profit or loss[184] - Financial liabilities measured at fair value through profit or loss are initially measured at fair value, with related transaction costs recognized in current profit or loss[184] - The company terminates recognition of existing financial liabilities when substantial modifications are made to the contract terms, and the modified financial liability is recognized as a new financial liability[186] - The company measures the loss allowance for receivables at an amount equal to the lifetime expected credit losses, regardless of whether they contain a significant financing component[187] - The company's financial assets are initially classified as financial assets measured at amortized cost, financial assets measured at fair value through other comprehensive income (debt instruments), or financial assets measured at fair value through profit or loss[193] - Financial assets measured at fair value through other comprehensive income (debt instruments) are initially measured at fair value, with related transaction costs included in the initial recognition amount[196] - Upon derecognition, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from other comprehensive income to retained earnings[197] - The difference between the consideration paid and the carrying amount of the financial liability is recognized in current profit or loss upon derecognition[198] Acquisitions and Equity Transfers - The company transferred 100% equity of Xinjiang Mike for 10.3852 million yuan on August 8, 2023[146] - The company acquired 100% equity of Beijing Dawei Microorganism Technology Co., Ltd. in November 2020 and March 2022[146] - As of September 30, 2023, Dawei Microorganism had no operational business and was planned for deregistration[146]