Financial Performance - The company's revenue for the year reached RMB 8,772,488,000, an increase of 4.5% compared to RMB 8,392,600,000 in the previous year[19] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was RMB 1,678,072,000, reflecting a decrease of 6.7% from RMB 1,798,222,000[19] - Profit attributable to the owners of the company was RMB 702,989,000, representing a 9.5% increase from RMB 641,764,000[19] - Basic and diluted earnings per share were both RMB 39.81, up 1.7% from RMB 39.14[19] - The company's revenue for the year ended December 31, 2020, was approximately RMB 8,772,500,000, an increase of 4.5% compared to the previous year[34] - Shareholders' profit for the same period was approximately RMB 703,000,000, representing a 9.5% increase from RMB 641,800,000 in 2019[34] - The sales revenue for diabetes products reached RMB 1,234,700,000, a growth of 35.7%, with the sales volume of recombinant human insulin injection and glargine insulin injection increasing by 22.0% and 81.3% respectively[37] - The company reported a pre-tax profit of RMB 882,334,000, which is an increase from RMB 841,652,000 in the prior year, showing a growth of approximately 4.9%[170] - The company reported a significant increase in cash flow from operating activities, with net cash generated amounting to RMB 1,569,262,000, down from RMB 1,801,184,000 in the previous year[170] Research and Development - The company invested approximately RMB 339,600,000 in R&D during the year, with 26 new products under development, including 10 Class 1 new drugs[41] - The company launched a new drug for the treatment of moderate to severe active rheumatoid arthritis, WXSH0150, which received clinical trial approval[10] - The company plans to continue focusing on the diabetes sector and enhance its academic platform and comprehensive competitiveness[33] Corporate Governance - The board consists of six executive directors and three independent non-executive directors, with a commitment to high corporate governance standards[109] - The company has adopted and complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules[106] - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee[109] - Independent non-executive directors have submitted annual independence confirmation statements, affirming their independence as per listing rules[118] - The company confirmed that all directors complied with the standard code of conduct for securities trading during the year ending December 31, 2020[127] Financial Position - Total assets were approximately RMB 14,963,700,000 as of December 31, 2020, down from RMB 15,699,700,000 in 2019, while total liabilities decreased from RMB 9,027,900,000 to RMB 6,351,900,000[45] - Shareholders' equity increased from RMB 6,671,800,000 in 2019 to RMB 8,613,900,000 in 2020, reflecting a strong growth in shareholder value[45] - Current assets amounted to approximately RMB 8,225,000,000 as of December 31, 2020, compared to RMB 8,713,500,000 in 2019, while net current assets increased from RMB 2,254,700,000 to RMB 3,365,100,000[45] - The current ratio improved to approximately 1.69 as of December 31, 2020, compared to 1.35 in 2019, indicating a significant enhancement in short-term financial health[45] Cash Flow and Investments - The company made significant investments in property, plant, and equipment, with payments totaling RMB 514,980 thousand in 2020, compared to RMB 374,977 thousand in 2019, representing an increase of approximately 37.3%[172] - The company reported a substantial increase in receivables collected, amounting to RMB 300,000 thousand in 2020, compared to RMB 100,000 thousand in 2019, marking a 200% increase[172] - The company’s financing activities resulted in a net cash outflow of RMB 1,909,035 thousand in 2020, a stark contrast to a net inflow of RMB 317,731 thousand in 2019[172] Social Responsibility - The company donated over RMB 4 million and provided nearly RMB 1 million worth of epidemic prevention materials to support COVID-19 control efforts[29] - The company achieved significant recognition, including awards for social responsibility and contributions to the fight against the pandemic[10] Risk Management - The group has established treasury policies to monitor and manage currency exchange risks associated with its operations[46] - There were no significant contingent liabilities reported as of December 31, 2020, indicating a stable risk profile[47] Auditor and Compliance - The company has engaged Deloitte as its auditor for the upcoming annual general meeting[103] - The auditor's fees for the year 2020 amounted to approximately RMB 4,775,000 for audit services and RMB 1,690,000 for non-audit services[131] - The company has maintained compliance with applicable laws and regulations, with no significant violations reported for the year ending December 31, 2020[102]
联邦制药(03933) - 2020 - 年度财报