Financial Performance - BIOSINO reported a significant increase in revenue, achieving RMB 150 million for the first half of 2021, representing a growth of 25% compared to the same period last year[27]. - The company achieved revenue of approximately RMB 174.7 million for the six months ended June 30, 2021, representing a growth of about 33% compared to RMB 131.4 million in the same period last year[36]. - The company’s total revenue for the six months ended June 30, 2021, was RMB 179,187,000, an increase from RMB 162,078,000 in the same period of 2020[72]. - Operating revenue for the three months ended June 30, 2021, was RMB 93,771 thousand, an increase of 11.7% from RMB 84,294 thousand in the same period of 2020[61]. - Gross profit for the six months ended June 30, 2021, reached RMB 81,034 thousand, up 73.4% from RMB 46,716 thousand in the same period of 2020[61]. - The profit attributable to shareholders was approximately RMB 1.8 million, a significant turnaround from a loss of RMB 12.3 million in the same period last year[36]. - The net profit attributable to the parent company for the three months ended June 30, 2021, was RMB 2,488 thousand, compared to RMB 3,491 thousand in the same period of 2020, reflecting a decrease of 28.8%[64]. - The company reported a significant increase in operating profit, with a net operating cash flow of RMB 25,353,000 compared to a loss of RMB 9,290,000 in the previous year[74]. Market Position and Strategy - The company expanded its distribution network to over 600 distributors across more than 30 provinces and municipalities in China, enhancing its market reach[28]. - BIOSINO aims to enhance its competitiveness by adhering to principles of innovation, quality, and legal operation, which are central to its business strategy[28]. - The company is actively pursuing new product development and technological advancements to strengthen its market position[27]. - The company is focusing on enhancing product quality standards and exploring new marketing models to adapt to market changes[37]. - The company plans to strengthen its sales team and improve after-sales service capabilities to enhance brand influence and market competitiveness[37]. - The domestic IVD market is expected to continue expanding due to increasing health awareness and improvements in medical quality and technology[44]. - The introduction of policies supporting the medical device and IVD industry is expected to further drive rapid development in the domestic market[40]. - The company is actively seeking new business growth points and expanding revenue sources to regain its leading position in the industry[51]. Research and Development - The company is focused on research and development, leveraging the strong academic background of its management team, which includes several university professors and PhDs[28]. - The company is focused on enhancing the quality of existing products and developing new testing projects driven by industry technological advancements[51]. - The company aims to improve its reagent and instrument innovation capabilities and medical diagnostic service levels to enhance overall competitiveness[51]. - The company completed 71 product renewal registrations and obtained 36 first-class filing certificates for mass spectrometry sample pretreatment and cleaning products during the reporting period[49]. - The company has received four product patents, including a stable biochemical composite calibrator and its preparation method, and an immunoturbidimetric assay kit[49]. Financial Position - As of June 30, 2021, the company's cash and bank balance was approximately RMB 22.85 million, down from RMB 45.45 million on December 31, 2020[52]. - The company secured bank loans amounting to approximately RMB 95 million, with collateral provided by properties valued at approximately RMB 24.47 million and RMB 2.45 million[54]. - Total assets as of June 30, 2021, amounted to RMB 383,492 thousand, slightly down from RMB 386,516 thousand as of December 31, 2020[68]. - Current liabilities totaled RMB 368,933 thousand as of June 30, 2021, compared to RMB 378,866 thousand as of December 31, 2020, indicating a decrease of 2.5%[70]. - The company reported a net asset value of RMB 201,456 thousand as of June 30, 2021, an increase from RMB 196,271 thousand as of December 31, 2020[70]. - The company’s cash and cash equivalents decreased to RMB 22,854 thousand as of June 30, 2021, from RMB 45,453 thousand as of December 31, 2020[68]. - The net cash inflow from operating activities for the six months ended June 30, 2021, was RMB 25,353,000, compared to a net cash outflow of RMB 9,290,000 for the same period in 2020[74]. Employee and Management - The total employee cost for the six months ended June 30, 2021, was approximately RMB 38.6 million, compared to RMB 39.31 million in the same period of 2020[57]. - As of June 30, 2021, the company employed approximately 415 full-time employees, a decrease from about 450 employees as of December 31, 2020[57]. - Total remuneration for key management personnel increased to RMB 2,985,000 for the six months ended June 30, 2021, compared to RMB 2,152,000 in the previous year[107]. Shareholder Information - The major shareholder, Beijing Saipu Asset Management Co., Ltd., is a wholly-owned subsidiary of the Chinese Academy of Sciences, providing a strong foundation for the company's research capabilities[27]. - Beijing Puxi Asset Management Co., Ltd. holds 31,308,576 shares, representing 38.93% of the domestic shares and 21.64% of the total registered capital[29]. - Mr. Xiao Yonggang directly owns 7,763,505 shares, accounting for 9.65% of the domestic shares and 5.36% of the total registered capital[29]. - Beijing Holdings Limited holds 27,256,143 H shares, which is 42.40% of the H shares and 18.84% of the total registered capital[29]. - Yunnan Shengneng Investment Partnership holds 6,780,000 H shares, representing 10.55% of the H shares and 4.69% of the total registered capital[29]. - Chung Shek Enterprises Company Limited owns 3,800,000 H shares, accounting for 5.91% of the H shares and 2.63% of the total registered capital[29].
中生北控生物科技(08247) - 2021 - 中期财报