2025-04-25 14:08Financial Performance - The company's operating revenue for 2024 reached RMB 2,697,657,908.35, representing a 1.64% increase compared to RMB 2,654,039,068.79 in 2023[22]. - The net profit attributable to shareholders for 2024 was RMB 420,446,906.16, a slight increase of 1.04% from RMB 416,121,340.71 in 2023[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 379,096,331.64, showing a decrease of 1.12% compared to RMB 383,406,434.26 in 2023[22]. - The net cash flow from operating activities for 2024 was RMB 648,571,330.09, an increase of 2.23% from RMB 634,449,395.83 in 2023[22]. - As of the end of 2024, the net assets attributable to shareholders were RMB 5,575,258,634.87, a decrease of 1.32% from RMB 5,650,064,203.23 at the end of 2023[22]. - The total assets at the end of 2024 amounted to RMB 7,121,392,176.35, reflecting a slight increase of 0.22% from RMB 7,105,496,951.15 at the end of 2023[22]. - The company's gross profit margin for 2024 was 69.89%, slightly down from 70.46% in the previous year[32]. - The company achieved a revenue of 2,529.85 billion yuan in the pharmaceutical manufacturing industry in 2024, ranking 16th among 41 industrial categories, with a profit total of 342.07 billion yuan, a year-on-year decrease of 1.1%[80]. Dividend Distribution - The proposed cash dividend for the 2024 fiscal year is CNY 6.00 per 10 shares, totaling CNY 138,023,048.40 (including tax) based on a total share capital of 233,193,695 shares, after deducting 3,155,281 shares held in the repurchase account[8]. - The total cash dividend for 2024, including interim distributions, amounts to CNY 230,925,296.80, representing 54.92% of the net profit attributable to shareholders of the listed company[8]. - The company plans to submit the profit distribution proposal to the 2024 annual general meeting of shareholders for approval[8]. Research and Development - Research and development expenses for 2024 amounted to CNY 238.93 million, an increase of CNY 18.83 million, or approximately 8.56% year-on-year, representing 8.86% of total revenue[33]. - The company has a dedicated R&D team of 350 members, accounting for 16.23% of total employees, including 25 PhD holders and 107 master's degree holders[161]. - The company is actively pursuing clinical trials for various new products, including pain-reducing cross-linked sodium hyaluronate gel, which is currently in clinical testing[104]. - The company has established a comprehensive R&D management system and innovation incentive mechanism to enhance its technological capabilities[165]. - The company has filed for 56 new patents during the reporting period, with 59 patents granted, bringing the total to 468[98]. Product Development and Innovation - The company launched the world's first organic cross-linked hyaluronic acid product "Hai Mei Yue Bai" in July 2024, and received approval for its ophthalmic sodium hyaluronate eye drops in March 2024[33]. - The company is focusing on the integration of technologies such as stem cells, tissue engineering, and 3D printing to expand the application of biomedical materials in medical fields[86]. - The company is currently developing new products, including hydrophilic continuous vision intraocular lenses and collagen solutions for skin care, with R&D investments starting in 2024[178]. - The company is advancing various projects in the ophthalmology field, with multiple artificial lens products completing clinical trials and receiving regulatory certifications in early 2025[162]. - The company has developed a patented technology for medical chitosan, which has won multiple national awards, highlighting its innovation capabilities[107]. Market Position and Strategy - The company is committed to maintaining compliance with regulatory standards set by the National Medical Products Administration (NMPA)[16]. - Future outlook includes market expansion strategies and potential mergers and acquisitions to enhance competitive positioning[16]. - The company aims to leverage its research capabilities to drive innovation in medical devices and biopharmaceuticals[16]. - The company is focusing on four major therapeutic areas: medical aesthetics, ophthalmology, orthopedics, and adhesion prevention, which are expected to drive future growth[145]. - The company is actively engaged in the development of new products and technologies, focusing on the biomedical sector[192]. Compliance and Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[11]. - The company has not violated decision-making procedures for external guarantees[11]. - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[7]. - The board of directors and supervisory board members confirm the authenticity, accuracy, and completeness of the annual report[4]. - The governance structure is designed to ensure clear responsibilities and effective decision-making processes within the company[197]. Risks and Challenges - The company faces risks related to technological advancements in the biomedical materials field, which could impact its market competitiveness if it fails to adapt[115]. - The company is exposed to operational risks, including potential product quality issues that could lead to recalls and reputational damage[116]. - The company is affected by industry risks due to ongoing reforms in the pharmaceutical and medical device sectors, which may increase compliance costs and reduce product demand[117]. - The company's growth is partially dependent on the overall growth of the biopharmaceutical industry in China, which could slow down due to various factors[118]. - The company has pursued international expansion through acquisitions, which may be impacted by changes in foreign regulations or geopolitical tensions[118].