SHYNDEC(SH:600420)2025-03-28 00:40Financial Performance - The company achieved a consolidated net profit attributable to shareholders of 1,083,622,881.88 CNY for the fiscal year 2024[4]. - The company achieved operating revenue of CNY 10.94 billion in 2024, a decrease of 9.38% compared to the previous year[21]. - Net profit attributable to shareholders reached CNY 1.08 billion, an increase of 56.62% year-on-year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.04 billion, up 52.72% from the previous year[22]. - The total operating income decreased by 9.38% to approximately 10.94 billion RMB, while operating costs decreased by 10.73% to approximately 6.65 billion RMB[61]. - The company reported a net profit attributable to shareholders of 1.094 billion RMB, a year-on-year increase of 56.62%, with a return on equity increasing by 2.43 percentage points[59]. - The company reported a significant reduction in sales expenses due to a transformation in marketing models and better cost control[64]. - The overall gross margin improved to 39.24%, an increase of 0.91 percentage points year-on-year[64]. Dividend Distribution - The company plans to distribute a cash dividend of 2.00 CNY per 10 shares (including tax), totaling 268,234,538.40 CNY based on a total share capital of 1,341,172,692 shares as of December 31, 2024[4]. - The total cash dividend amount for 2024 is CNY 402,351,807.60, which accounts for 37.13% of the net profit attributable to ordinary shareholders in the consolidated financial statements[184]. - The cumulative cash dividend amount over the last three accounting years is CNY 670,586,346.00, with a cash dividend ratio of 83.71% based on the average annual net profit of CNY 801,099,402.09[186]. Research and Development - The company invested CNY 675 million in R&D, accounting for 6.17% of operating revenue, an increase of 0.41 percentage points year-on-year[33]. - The total R&D expenditure amounted to ¥674,510,524.59, representing 6.17% of total revenue, with capitalized R&D accounting for 14.62%[75]. - The company launched 31 new research projects in 2024 and filed 11 provincial-level research applications, indicating a focus on innovation[34]. - The company applied for 39 patents and received 62 patents in 2024, including 34 invention patents[99]. - The company is committed to enhancing its research and development capabilities, as indicated by the significant investments in various therapeutic areas[111]. Market Position and Sales - The company ranked 13th in the "Top 100 Chinese Chemical Pharmaceutical Enterprises" list for 2023, reflecting its strong market position[39]. - Export sales revenue reached RMB 3.99 billion, a year-on-year growth of 25.95%, with the intermediates and APIs segment growing by 28.19%[34]. - The formulation segment achieved sales revenue of 5.451 billion RMB, a year-on-year decrease of 20.24%, accounting for 49.84% of total revenue, down 6.78 percentage points from the previous year[49]. - Sales revenue in the nervous system medication area decreased by 8.28% despite significant growth in the sales of certain products, with injection of fentanyl hydrochloride and minaprine tablets increasing by 22.64% and 33.58% respectively[49]. Risk Management and Compliance - There are no significant risks that materially affect the company's production and operations during the reporting period[6]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for providing guarantees to external parties[6]. - The company emphasizes compliance and risk control, aiming to enhance internal control and supervision mechanisms to support stable development[133]. Governance and Management - The company has established a comprehensive governance structure with clear responsibilities for the shareholders' meeting, board of directors, and supervisory board, ensuring effective decision-making and oversight[141]. - The board of directors consists of 9 members, including 7 external directors, and has established specialized committees to facilitate effective governance and decision-making[142]. - The company has implemented a performance-based evaluation mechanism for senior management, linking compensation to operational performance[187]. - The total pre-tax remuneration for the management team during the reporting period amounted to 934.32 million CNY[152]. Environmental Protection - The company has established a comprehensive environmental protection regulatory system across its key pollutant discharge units, enhancing management efficiency in environmental protection[196]. - All key pollutant discharge units are equipped with advanced environmental protection facilities, including internal wastewater treatment systems and air emission terminal treatment facilities, which are operating stably[196]. - The company has implemented a strict "three simultaneous" system for environmental protection in construction projects, ensuring compliance throughout the project lifecycle[197]. - The company has a monitoring system in place to ensure that pollutant emissions meet environmental standards consistently[197]. Strategic Initiatives - The company is committed to becoming an innovation-driven leader in the pharmaceutical industry, focusing on key therapeutic areas such as anti-infection and cardiovascular health[40]. - The company is actively adjusting its business layout and enhancing operational quality and efficiency in response to market changes and competitive pressures[46]. - The company plans to enhance its innovation capabilities in the pharmaceutical sector, aligning with government initiatives to promote modern industrial systems[86]. - The company is exploring potential acquisitions to enhance its product portfolio, targeting a deal by Q1 2024[153].