Beijing Tri Prime Gene Pharmaceutical (BJ:837344)2023-04-20 16:00Financial Performance - In 2022, the company achieved a revenue of 170 million yuan and a net profit of over 31 million yuan, with an operating cash flow of over 68.61 million yuan[6]. - The company's operating revenue for 2022 was ¥170,998,937.09, a decrease of 15.18% compared to ¥201,604,942.27 in 2021[34]. - The net profit attributable to shareholders for 2022 was ¥31,058,696.22, down 23.15% from ¥40,414,576.19 in 2021[34]. - The cash flow from operating activities for 2022 was ¥68,618,602.80, representing a 60.53% increase from ¥42,745,631.37 in 2021[37]. - The company reported a basic earnings per share of ¥0.25 for 2022, a decrease of 24.24% from ¥0.33 in 2021[34]. - The weighted average return on equity (ROE) was 5.56% for 2022, down from 7.57% in 2021[34]. - The company achieved a net non-operating profit of 10,339,578.81 in 2022, compared to 7,604,684.70 in 2021, indicating a growth in profitability[44]. - The company reported a significant increase in non-operating income, rising by 8,271,772.50% to ¥33.09 thousand in 2022[87]. - The total investment cash flow for 2022 was negative at approximately -¥323.19 million, an increase in outflow of 541.39% compared to the previous year[101]. - The company has cumulatively distributed dividends exceeding ¥130 million to all shareholders[151]. Research and Development - The company has established four major technology platforms to support continuous innovation and development in drug production[52]. - The company is focused on developing a new PEG-integrated interferon mutant injection, which aims to combine long-acting properties with high efficacy and safety[21]. - The company has invested in innovative clinical operation models to enhance the quality and efficiency of clinical research amid challenges posed by the pandemic[54]. - The company is conducting a Phase III clinical trial for human interferon α1b to treat COVID-19, collaborating with 27 designated treatment centers across the country, with 7 centers completing project initiation and 6 centers obtaining ethical approval[56]. - The company is working on a gene screening chip to predict the efficacy of interferon therapy for hepatitis B patients, which aligns with global treatment guidelines and could create significant economic benefits[117]. - The company is enhancing the production process of human interferon α1b to improve quality and reduce costs, which is crucial for maintaining competitive advantages[118]. - The company has increased R&D investment to over 50 million yuan annually, with four major new drug projects reaching critical milestones[150]. - The company has a strong R&D team and has established an independent R&D and medical department to focus on biotechnological product development[77]. - The total number of R&D personnel increased from 38 to 44, with the proportion of R&D staff to total employees rising from 17.92% to 19.21%[114]. Market Position and Competition - The company’s main product, human interferon α1b, significantly contributes to its revenue, with a high market demand due to its clinical efficacy[13]. - The company’s human interferon α1b product has a broad clinical application, covering multiple medical fields including hepatology, infectious diseases, pediatrics, and oncology[50]. - The company’s main product, human interferon α1b, has maintained a leading market share in China, covering over 5,000 medical institutions across more than 30 provinces[48]. - The company faces risks related to accounts receivable management and industry competition, particularly in the biopharmaceutical sector[12]. - The company’s main product, human interferon α1b, significantly contributes to its revenue, but faces competition risks from new entrants and better clinical alternatives[158]. Intellectual Property and Innovation - The company holds a total of 52 invention patents in countries including China, the United States, and Japan as of the end of the reporting period[5]. - The company was recognized as a "National Intellectual Property Demonstration Enterprise" by the National Intellectual Property Administration in October 2022[6]. - The company has successfully developed the first gene-engineered drug with independent intellectual property rights in China, human interferon α1b, and established four major technology platforms for future innovation[66]. - The company has established a credit control system to manage accounts receivable effectively, especially for commercial distribution channels[155]. Clinical Trials and Product Development - The company completed the Phase III clinical trial for inhaled interferon α1b treatment for pediatric respiratory syncytial virus pneumonia, with all cases enrolled and clinical observations completed[5]. - The company has completed the Phase III clinical trial as planned, preparing for the registration application for the nebulized treatment[55]. - The company is in the final stage of clinical trials for the human interferon α1b project, which aims to revise the product description to include nebulized inhalation as a delivery method[116]. - The company is developing a pediatric RSV pneumonia inhalation agent, which is expected to significantly enhance performance and maintain long-term competitive advantages in a large market[117]. - The γδT cell therapy project has shown promising safety results, with 10 liver cancer patients observed for over six months without serious adverse reactions[59]. Financial Management and Investments - Total assets increased by 43.54% to ¥933,400,392.16 in 2022, compared to ¥650,273,778.58 in 2021[35]. - Total liabilities surged by 234.81% to ¥358,586,812.34 in 2022, up from ¥107,102,826.23 in 2021[35]. - The company has a strong focus on high-quality development, overcoming challenges posed by the COVID-19 pandemic while advancing its drug development projects[65]. - The company has decided not to distribute profits for the fiscal year 2022, despite having positive earnings and undistributed profits, to support ongoing investments in new plant construction and product development[199]. Corporate Governance and Compliance - The company has established a robust corporate governance structure, complying with relevant laws and regulations since its listing on the Beijing Stock Exchange on November 15, 2021[131]. - The company emphasizes investor relations management, ensuring timely and accurate information disclosure, with no instances of overdue disclosures reported[132]. - The company has implemented a comprehensive safety management system, achieving a "zero" accident goal in production safety[129]. - The company actively integrates ESG principles into its operations, focusing on environmental, social, and governance performance[126]. Strategic Development and Future Outlook - The company is positioned to leverage opportunities in the pharmaceutical industry, particularly in children's medication and innovative drug development[78]. - The company is currently in a critical phase of new product research and development, which is a key factor in the decision to withhold profit distribution[199]. - The company is prioritizing investments in technology and market expansion as part of its long-term strategy[199]. - The overall focus remains on enhancing shareholder value through strategic investments rather than immediate profit sharing[199].