申联生物(688098) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥126,375,941.30, representing a year-on-year increase of 2.68% compared to ¥123,071,527.99 in the same period last year[12]. - The net profit attributable to shareholders of the listed company was -¥34,507,973.32, a significant decline of 447.44% from a profit of ¥9,932,169.99 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥35,444,045.99, marking a drastic decrease of 1059.88% compared to ¥3,692,537.44 in the same period last year[12]. - The net cash flow from operating activities for the reporting period was -805,633.37 RMB, a significant decrease compared to -43,825,814.79 RMB from the previous year[13]. - The net assets attributable to shareholders decreased by 3.28% to 1,439,851,706.03 RMB from 1,488,732,219.35 RMB at the end of the previous year[13]. - The total assets decreased by 2.31% to 1,557,172,922.80 RMB from 1,593,994,285.77 RMB at the end of the previous year[13]. - Basic earnings per share were -0.08 RMB, a decline of 500.00% compared to 0.02 RMB in the same period last year[13]. - The company achieved a total revenue of 30,508.14 million RMB, with a net profit of 12,654.61 million RMB for the first half of 2024[54]. - The company reported a net loss of ¥36,435,616.03 for the first half of 2024, a decline from a net profit of ¥9,932,169.99 in the same period of 2023[160]. - The total comprehensive income attributable to the parent company was -¥34,507,973.32, compared to ¥9,932,169.99 in the previous year, indicating a significant decline[161]. Research and Development - The R&D investment accounted for 37.00% of operating revenue, an increase of 3.69 percentage points from 33.31% in the previous year[13]. - The company is actively tracking animal disease trends to develop cutting-edge products and technologies, enhancing collaboration between R&D and marketing[14]. - The company has developed a new bivalent synthetic peptide vaccine for foot-and-mouth disease, which is highly safe, efficient, and stable, with a long-lasting immune response[22]. - The company is investing in mRNA technology and other advanced biopharmaceutical techniques, which are expected to drive future vaccine development[41]. - Total R&D investment increased by 14.08% year-on-year, reaching approximately ¥46.76 million, with R&D expenses accounting for 37.00% of operating revenue, up from 33.31%[50]. - The company has filed for a total of 138 patents, with 85 patents granted, reflecting a strong commitment to innovation and development[49]. - The company has established five major platforms for inactivated vaccines, including dual-strain reverse genetics technology and dual high-efficiency suspension culture technology, which have led to significant advancements in vaccine production[44]. - The mRNA vaccine technology platform has made significant progress, with core technologies established for mRNA design and production, enabling the development of vaccines for major animal diseases such as African swine fever[46]. - The company has made significant advancements in synthetic peptide vaccine technology, with multiple industry-leading core technologies established[45]. Market and Industry Trends - The veterinary biological products industry in China achieved a production value of 17.736 billion CNY and sales of 16.567 billion CNY in 2022, with a gross profit of 9.141 billion CNY, resulting in an average gross margin of 55.18%[30]. - The market size for pig biological products reached 7.642 billion CNY, accounting for 46.13% of the total market, while poultry biological products accounted for 40.12% with a market size of 6.647 billion CNY[31]. - The industry is facing challenges such as low concentration, structural overcapacity, and intensified competition, prompting a new phase of development and consolidation[30]. - The Chinese veterinary biological products industry is increasingly focusing on international market participation and collaboration, particularly in response to global animal disease prevention efforts[30]. - The average profit margin for the pig biological products sector is reported at 12.91%[31]. Product Development and Innovation - The company has developed a range of vaccines including inactivated vaccines for foot-and-mouth disease and synthetic peptide vaccines, with ongoing construction of additional production lines for live and inactivated vaccines[40]. - The company has successfully launched a bivalent inactivated vaccine for swine foot-and-mouth disease, which has received high recognition for its effectiveness and safety from customers[44]. - The company is enhancing its core technology platforms to provide safe and effective disease prevention and diagnostic solutions, with a focus on protein engineering and antibody technology[40]. - The company is focusing on the development of new adjuvants to enhance immune responses for new vaccines, including immune-modulating and antigen-delivery adjuvants[42]. - The company has introduced a bivalent inactivated vaccine for cattle and sheep foot-and-mouth disease, which features strong immunogenicity and cross-protection capabilities[66]. Financial Management and Investments - The company plans to invest 129.03 million yuan in the animal inactivated vaccine project, utilizing 99.03 million yuan of raised funds[92]. - The company has approved the use of up to CNY 5,000 million of idle raised funds for cash management, with a maximum balance of CNY 0 at the end of the reporting period[146]. - The total amount of raised funds is CNY 44,000 million, with a net amount after issuance costs of CNY 40,017.50 million[142]. - The company has not disclosed any new major contracts or significant changes in the use of raised funds during the reporting period[145]. - The company plans to increase R&D investment, with multiple new veterinary drug projects currently underway, aiming to enhance core competitiveness[79]. Environmental Responsibility - The company invested 994,300 CNY in environmental protection during the reporting period[104]. - The company has implemented carbon reduction measures, optimizing energy-saving facilities and enhancing energy consumption management, resulting in effective cost savings and environmental protection[120]. - The company has passed a clean production audit in December 2022, demonstrating its commitment to environmental responsibility[119]. - The company has developed emergency response plans for environmental incidents, complying with national regulations[116]. - The company has received pollution discharge permits from the environmental authorities in Shanghai and Lanzhou, valid since November 2022 and April 2022 respectively[118]. Corporate Governance and Compliance - The company has a structured plan to address any unfulfilled commitments, ensuring accountability and future compliance[124]. - The company will ensure that any related party transactions are conducted in compliance with relevant laws and regulations, protecting the interests of shareholders[130]. - The company has implemented strategies to ensure compliance and transparency, with no significant omissions or misleading statements reported[129]. - The company is committed to optimizing its innovation and R&D pillars to ensure timely conversion of research results into practical outputs, driving sustainable development[70]. - The company has not received any penalties or corrective actions for suspected violations during the reporting period[139]. Strategic Outlook - The company provided an optimistic outlook, projecting a revenue growth of 25% for the second half of 2024, driven by new product launches[127]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[129]. - A strategic acquisition was announced, with the company acquiring a competitor for 500 million, aimed at enhancing its product portfolio[125]. - The company is actively expanding its international business, particularly in the "Belt and Road" markets, focusing on product exports and overseas technology investments[77]. - The company is focusing on quality management, with its quality management system continuously improving to meet GMP and ISO9001 standards, expanding its testing capabilities to include various animal species[76].