WINSUN BIO(BJ:839729)2022-03-22 16:00Company Achievements and Certifications - In 2021, the company successfully obtained the "High-tech Enterprise Certificate" from the Guangdong Provincial Department of Science and Technology, indicating its continued recognition as a high-tech enterprise[3]. - The company’s two flagship products, the pig fever live vaccine and the pig circovirus type 2 inactivated vaccine, were selected as 2020 Guangdong Province's high-quality high-tech products[3]. - The company was awarded the "Top 20 Agricultural Science and Technology Innovation Enterprises" in Guangdong Province during the 13th Five-Year Plan period[4]. - The company achieved compliance with the new veterinary drug GMP requirements and was granted the veterinary drug GMP certificate in June 2021[4]. - The company has obtained 21 authorized patents, including 13 invention patents, and is advancing multiple veterinary vaccine projects[12]. Financial Performance - The company's operating revenue for 2021 was CNY 363,525,642.57, representing a 9.30% increase compared to CNY 332,589,593.88 in 2020[28]. - The net profit attributable to shareholders for 2021 was CNY 91,342,217.51, which is a 13.86% increase from CNY 80,220,685.80 in 2020[28]. - The gross profit margin improved to 67.43% in 2021 from 65.78% in 2020[28]. - The company's cash flow from operating activities for 2021 was CNY 100,703,991.33, up 9.94% from CNY 91,596,129.70 in 2020[32]. - The company's total share capital at the end of 2021 was 273,350,000 shares, a 250.00% increase from 78,100,000 shares at the end of 2020[35]. Risks and Challenges - The company faces risks related to fluctuations in the livestock and poultry breeding industry, which can impact the demand for veterinary vaccines[11]. - The company’s main product, the highly pathogenic avian influenza inactivated vaccine, is subject to procurement policy changes by the government, which poses a risk to its operations[11]. - Risks include potential changes in government procurement policies and the need for timely product updates to maintain profitability[12]. - The company faces risks related to the sustainability of cooperative research and technology introduction partnerships[13]. - The company has a risk of product quality issues, which could impact its reputation and lead to potential penalties[127]. Research and Development - The company has multiple ongoing R&D projects, including vaccines that are in various stages of approval and registration[55]. - The company has developed 29 types of vaccines, including single, multi, and multi-combination vaccines, with a strong market presence in the pig vaccine sector[46]. - The company is currently developing multiple projects, including a vaccine for Mycoplasma pneumonia in pigs, which is in the new veterinary drug certificate approval stage[102]. - The company is focusing on improving its R&D capabilities to expedite the market introduction of new products[120]. - The application of genetic engineering technology in poultry vaccines has matured, leading to technological upgrades in the poultry vaccine sector[117]. Market and Sales Strategy - The company employs a "sales-driven production" model, adjusting production plans based on sales forecasts and market feedback[46]. - The sales strategy includes both government tender procurement and market-based sales, with differentiated approaches for small and large-scale customers[50]. - Vaccine sales revenue reached 345.07 million yuan, up 17.15 million yuan, or 5.23%, due to increased sales to major clients and overseas markets[54]. - The company plans to enhance its market layout and expand both domestic and international markets, particularly in poultry vaccines, to increase market share[122]. - The company is actively expanding its supplier base to ensure quality and cost-effectiveness, resulting in a decrease in the procurement proportion from the top five suppliers compared to the previous year[84]. Corporate Governance and Compliance - The company has committed to further improving corporate governance following its listing in November 2016[150]. - The company has made a commitment to ensure that its internal control systems are continuously improved, with no significant failures reported during the period[159]. - The company has engaged in related transactions with the Guangdong Academy of Agricultural Sciences, including a contract amount of CNY 5 million for R&D technical services, with CNY 2.5 million actually incurred[148]. - The company has committed to avoiding related party transactions and conflicts of interest, which are currently being fulfilled[149]. - The company has maintained compliance with commitments related to related party transactions, share lock-up, and reduction intentions during the reporting period[162]. Environmental Compliance - The company has a wastewater treatment capacity of 200 cubic meters per day, ensuring compliance with environmental protection measures[114]. - The company’s main pollutants include wastewater, waste gas, solid waste, and noise, with specific measures in place for their treatment and reduction[114]. - The company is actively working with third-party waste disposal agencies to ensure compliance with environmental regulations[115]. - The company is committed to complying with environmental regulations to avoid potential pollution incidents and associated costs[138]. - Environmental protection measures are in place, but failure to comply with increasing standards could negatively impact operations and reputation[13].