Ausun Pharm(SH:603229)2024-08-23 09:06Financial Performance - The company's operating revenue for the first half of 2024 was ¥492,393,814.37, representing a 5.05% increase compared to ¥468,715,612.42 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was ¥179,832,394.24, an increase of 12.26% from ¥160,196,748.33 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥172,301,846.87, reflecting a 12.44% increase from ¥153,232,464.11 year-on-year[12]. - The net cash flow from operating activities was ¥38,932,293.96, a decrease of 3.78% compared to ¥40,463,326.85 in the same period last year[12]. - Basic earnings per share for the first half of 2024 increased by 15.79% to CNY 0.22 compared to CNY 0.19 in the same period last year[13]. - Diluted earnings per share also rose by 15.79% to CNY 0.22 from CNY 0.19 year-on-year[13]. - The company achieved operating revenue of 492.39 million yuan, a year-on-year increase of 5.05%[31]. - The net profit attributable to shareholders was 179.83 million yuan, reflecting a year-on-year growth of 12.26%[31]. - The company reported a total comprehensive income of ¥179,848,011.49 for the first half of 2024, compared to ¥160,175,181.53 in the same period last year[86]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥2,321,424,565.59, an increase of 8.40% from ¥2,141,576,554.10 at the end of the previous year[12]. - Total assets at the end of the reporting period were ¥2,980,632,742.40, showing a slight increase of 0.98% from ¥2,951,571,189.46 at the end of the previous year[12]. - Accounts receivable increased by 130.95% to ¥306,593,182.66, primarily due to an increase in sales of goods not yet due[36]. - The company's total current assets amounted to approximately ¥1.70 billion, an increase from ¥1.67 billion as of December 31, 2023, reflecting a growth of about 3.5%[79]. - The total liabilities decreased to CNY 659,208,176.81 from CNY 809,994,635.36, indicating a decrease of approximately 18.6%[81]. Research and Development - R&D investment reached 40.42 million yuan, accounting for 8.21% of operating revenue, with plans for further increases in R&D spending[33]. - The company has established a research and development team of nearly 500 personnel, including PhDs and Masters, focusing on various advanced technologies and product quality testing[28]. - The company is expanding its API R&D team and has established a synthetic biology research institute to leverage AI technology for competitive advantage[31]. - Research and development expenses for the first half of 2024 were ¥40,416,045.22, a decrease of 15.6% compared to ¥47,902,225.02 in the same period of 2023[85]. Market Position and Strategy - The company has established a strong reputation in the international market for its specialty raw materials and intermediates, with leading market shares for products like Entecavir and Posaconazole[16]. - The company aims to enhance its competitiveness in the formulation sector through the integration of intermediates, specialty raw materials, and formulations[16]. - The company is recognized as a strategic supplier for several large international pharmaceutical companies in the CRO/CDMO market[16]. - The company is focusing on a one-stop service model by integrating CRO, CDMO, and CMO services to enhance collaboration and stability in future orders[25]. - The company is advancing its "high-end formulation internationalization project," focusing on high-activity targeted anti-tumor tablets/capsules and ordinary oral solid tablets/capsules[17]. Environmental Compliance - The company was listed as a key pollutant discharge unit by the environmental protection department in 2024, emphasizing its commitment to environmental protection and sustainable development[51]. - In the first half of 2024, the company reported a non-methane total hydrocarbon emission of 1.03 tons, with an average emission concentration of 14.22 mg/m3, both meeting the standards[51]. - The wastewater discharge in the first half of 2024 was 79,251.3 tons, with a chemical oxygen demand average concentration of 148.4 mg/L, also compliant with regulations[52]. - The company operates a wastewater treatment system with a capacity of 600 tons per day and an organic waste gas RTO incineration device with a disposal capacity of 38,000 cubic meters per hour[53]. - The company has established a comprehensive environmental risk emergency mechanism, with an emergency response plan filed in November 2023[56]. Financial Management - The company conducted foreign exchange hedging to mitigate the impact of exchange rate fluctuations, enhancing financial stability[43]. - The company’s financial expenses decreased by 55.02% to -¥13,559,791.97, mainly due to reduced exchange losses from currency fluctuations[35]. - The company has not proposed any profit distribution or capital reserve increase for the reporting period[50]. - The total amount of guarantees provided by the company during the reporting period is 0.00 million RMB, with a guarantee balance of 0.00 million RMB at the end of the reporting period[65]. Risks and Challenges - The company faces risks including product quality, R&D and innovation, environmental compliance, safety production, exchange rate fluctuations, raw material price volatility, and reliance on key customers[45]. - The top five customers accounted for 56.34% and 64.63% of total revenue in 2023 and the first half of 2024 respectively, indicating high customer concentration risk[46]. Shareholder Information - The total number of common shareholders as of the reporting period end was 30,246[74]. - The company completed a capital increase of 237,227,756 shares, raising the total share capital from 593,069,389 shares to 830,297,145 shares[76]. - The capital increase diluted the earnings per share for the reporting period[76]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[104]. - The company adheres to the accounting standards for enterprises, ensuring that financial statements reflect a true and complete view of its financial status[106]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period[161].