CABIO(SH:688089)2025-03-27 10:45Financial Performance - The company's operating revenue for 2024 reached ¥555,593,402.27, representing a 25.19% increase compared to ¥443,803,122.41 in 2023 [23]. - Net profit attributable to shareholders for 2024 was ¥124,212,718.70, a 35.94% increase from ¥91,374,165.38 in 2023 [23]. - The net profit after deducting non-recurring gains and losses was ¥99,989,941.08, showing a significant increase of 60.11% from ¥62,449,475.27 in 2023 [23]. - The net cash flow from operating activities surged by 151.19% to ¥173,044,682.14 in 2024, compared to ¥68,888,874.88 in 2023 [23]. - Basic earnings per share for 2024 increased by 37.04% to ¥0.74, up from ¥0.54 in 2023 [24]. - The weighted average return on equity rose to 8.16% in 2024, an increase of 1.88 percentage points from 6.28% in 2023 [24]. - The total assets at the end of 2024 were ¥1,686,816,628.88, reflecting a 4.67% increase from ¥1,611,492,632.01 at the end of 2023 [23]. - The net assets attributable to shareholders increased by 5.40% to ¥1,556,087,313.72 at the end of 2024, compared to ¥1,476,352,721.21 at the end of 2023 [23]. Dividend and Profitability - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares, totaling approximately 33,661,824.00 yuan (before tax) to all shareholders [8]. - The company has not yet achieved profitability since its listing [5]. Operational Risks and Governance - The company has detailed various operational risks and corresponding countermeasures in the report [5]. - The company has a standard unqualified audit report issued by Da Xin Accounting Firm [7]. - The company has no non-operating fund occupation by controlling shareholders or related parties [10]. - The company has no violations of decision-making procedures for external guarantees [10]. - The company’s future plans and development strategies are subject to investment risks and do not constitute substantial commitments to investors [9]. Research and Development - Research and development expenses accounted for 8.62% of operating revenue in 2024, slightly down from 8.70% in 2023 [24]. - The company achieved a total R&D expenditure of ¥47,907,081.32, representing a 24.12% increase compared to the previous year [105]. - R&D expenditure accounted for 8.62% of total revenue, a slight decrease of 0.08 percentage points from the previous year [105]. - The company has filed 51 new product authorizations for SA products in 2024, bringing the total to 114 [39]. - The company is actively developing new products, including a method for producing sialic acid and its applications, with a patent application filed on April 17, 2024 [101]. Market Expansion and Product Development - The company is expanding its international market presence, particularly as global ARA patents expire, which will enhance its competitive position [78]. - The company is focusing on enhancing its international operational capabilities to capture a larger share of the global ARA and DHA markets, particularly in the Asia-Pacific region [169]. - The company plans to enhance its R&D efforts, with R&D expenses amounting to 47,907,081.32 yuan, a 24.12% increase year-on-year [123]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio [190]. Supply Chain and Production - The company employs a strict supplier management system to ensure food safety and quality control, utilizing a lifecycle management approach for suppliers [48]. - The production model combines stockpiling with a make-to-order approach, optimizing inventory management to meet diverse customer needs [48]. - The company has established a comprehensive international supply chain, serving over 30 countries and regions [41]. Strategic Partnerships and Collaborations - The company has established long-term partnerships with major clients such as Nestlé, Danone, and Yili, enhancing its market share as industry concentration increases [78]. - The company is collaborating with academic institutions to drive innovation in synthetic biology and biomanufacturing technologies, enhancing its competitive edge in the industry [89]. Compliance and Governance - The company will maintain strict compliance with legal and regulatory requirements to ensure effective governance and protect shareholder rights [182]. - The company emphasizes investor relations management, actively inviting investors for on-site research and communication with management [185]. - The company reported no significant differences in governance compared to regulations set by the China Securities Regulatory Commission [186]. Future Outlook - Future guidance indicates a cautious but optimistic outlook, with expectations for gradual revenue growth in the upcoming quarters [190]. - The company plans to implement its "AI + synthetic biology" strategy to drive technological innovation and achieve high-quality, sustainable growth through various capital operations [173]. - The company aims to industrialize HMOs series products such as 3-FL and LNnT by 2025, while also advancing research on cosmetic raw materials [175].