BTBP(SH:600161)2025-03-28 11:05Financial Performance - The company's operating revenue for 2024 reached ¥6,031,865,460.16, representing a 16.44% increase compared to ¥5,180,441,799.76 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥1,549,164,832.24, a 39.58% increase from ¥1,109,888,597.22 in the previous year[22]. - Basic earnings per share for 2024 were ¥0.78, up 39.58% from ¥0.56 in 2023[24]. - The weighted average return on equity increased to 14.81%, up 2.88 percentage points from 11.93% in 2023[24]. - The company achieved an annual revenue of 603.19 million RMB, representing a year-on-year growth of 16.44%[34]. - The net profit for the year was 211.23 million RMB, with a year-on-year increase of 39.94%[34]. - The net profit attributable to shareholders was 154.92 million RMB, reflecting a growth of 39.58% compared to the previous year[34]. - The gross profit margin for the biopharmaceutical industry was 54.67%, up by 3.94 percentage points year-on-year[89]. - The company reported a net profit attributable to ordinary shareholders of 1,549,164,832.24 RMB for the most recent fiscal year[187]. - The cash dividend amount represents 12.76% of the net profit attributable to ordinary shareholders[184]. Assets and Cash Flow - The total assets of the company at the end of 2024 were ¥15,869,522,217.56, an 11.85% increase from ¥14,188,056,936.91 in 2023[23]. - The net cash flow from operating activities decreased by 65.75% to ¥819,780,705.09, down from ¥2,393,576,031.26 in 2023[22]. - Cash and cash equivalents decreased by 41.04% to ¥2,685,655,918.86 due to changes in credit policy and increased expenditures from the acquisition of Zhongyuan Ruide[100]. - Accounts receivable increased by 1,036.25% to ¥203,000,923.47, attributed to changes in sales credit policy[100]. - Inventory increased by 36.02% to ¥3,869,072,356.24, driven by the acquisition of Zhongyuan Ruide and increased production volume[100]. - The net cash flow from investing activities was -185,911.62 million CNY, a decrease of 61,220.93 million CNY compared to the previous year[97]. Plasma Collection and Production - The company collected a total of 2,781 tons of plasma, marking a 15.15% increase year-on-year, maintaining a leading position in the domestic market[35]. - The company has 85 operational single plasma collection stations, which contributed to the increase in plasma collection[35]. - The company accelerated plasma production, achieving annual plasma collection targets and ensuring product supply according to market demand[37]. - The company operates 107 plasma collection stations across 16 provinces, with 85 stations actively collecting plasma, achieving a total collection of 2,781 tons, representing approximately 20% of the domestic market share[62]. - The company has a production capacity of 1,200 tons at each of its three new production bases in Chengdu, Kunming, and Lanzhou, which are expected to enhance operational quality and efficiency[64]. Research and Development - The company received 22 authorized patents during the reporting period, including 3 invention patents and 19 utility model patents, reflecting strong R&D progress[39]. - The company maintains a leading position in R&D with over 100 researchers and advanced facilities, focusing on the development of recombinant coagulation factors and immunoglobulin products, with more than ten products currently under research[63]. - The company emphasizes a strong commitment to R&D, maintaining high levels of investment and focusing on the development of blood products and recombinant products[108]. - Key R&D projects include recombinant coagulation factors, with several products in various stages of clinical trials, including phase III and phase I trials[109]. - The company has successfully obtained regulatory approvals for several new products, including human prothrombin complex and intravenous immunoglobulin, which will enhance its product portfolio[111]. Market Expansion and Sales - The company expanded its sales coverage to over 700 top-tier hospitals across more than 30 provincial administrative regions, focusing on pediatric, neurological, and critical care departments[40]. - The company has established a sales network covering nearly 30,000 hospitals, effectively reaching major provinces and cities in China[63]. - The company’s sales model includes government procurement bidding to determine pricing and distribution responsibilities through channel partners[71]. - The company’s procurement model for raw materials is based on a material requirements planning (MRP) system to ensure efficient production and inventory management[70]. - The company plans to enhance its strategic goals to become a leading blood products enterprise with international influence[79]. Corporate Governance and Management - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and maintaining independence from its controlling shareholder[149]. - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirement for independent oversight[151]. - The company has implemented a performance evaluation system for senior management, linking compensation to company performance to enhance operational efficiency[152]. - The company actively respects the rights of stakeholders, including creditors and employees, fostering collaboration for sustainable development[152]. - The company has established specialized committees under the board, including Audit and Risk Management, Nomination, Performance Assessment and Compensation, and Strategic Investment Committees[169]. Environmental Compliance - The company is committed to environmental protection, ensuring compliance with national and industry standards for waste management[194]. - The hazardous waste management practices across all facilities have been confirmed to align with national hazardous waste regulations[197]. - Wastewater discharge from Chengdu Rongsheng showed no exceedance of the regulatory limits for COD, ammonia nitrogen, and BOD[194]. - The air pollution control facilities at Chengdu Rongsheng achieved compliance, with emissions from the heating boiler and VOCs treatment meeting standards[199]. - Chengdu Rongsheng processed a total of 386,756 m³ of wastewater during the reporting period, averaging 1,171.99 m³/d, with all effluent meeting national standards[199].