Porton(SZ:300363)2025-03-28 14:00Financial Performance - The company reported a loss during the reporting period, primarily due to underutilization of production capacity, leading to increased fixed costs and a decrease in overall gross margin [14]. - The company reported a revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year growth of 15% [28]. - The company's operating revenue for 2024 was ¥3,011,966,354.32, a decrease of 17.87% compared to ¥3,667,417,122.49 in 2023 [33]. - The net profit attributable to shareholders for 2024 was -¥287,753,297.39, representing a decline of 207.83% from ¥266,859,527.37 in 2023 [33]. - The net cash flow from operating activities decreased by 35.53% to ¥405,525,823.67 in 2024, down from ¥629,056,261.15 in 2023 [33]. - The overall gross margin for the company was approximately 25%, a decline of 16 percentage points year-on-year, with overseas market gross margin at about 36% and domestic market gross margin at -8% [62]. - The company reported a net loss from non-operating income of -¥15,604,028.89 in 2024, compared to a gain of ¥18,866,254.68 in 2023 [38]. - The company reported a total revenue of 268.3 million in the latest quarter, showing a significant increase compared to the previous period [127]. Client and Market Expansion - The company has a global workforce of over 4,200 employees and has served more than 1,200 clients worldwide, with 185 new clients added during the period [11]. - The company’s overseas business revenue accounted for approximately 74% of its main business income during the reporting period [20]. - User data indicates an increase in active clients by 20%, reaching a total of 500,000 users [28]. - The company is expanding its market presence in Europe, targeting a 10% market share by the end of 2025 [28]. - The company has established 18 operational sites across China, the US, and Europe, employing 1,213 R&D personnel, with 1,062 in China, 123 in the US, and 28 in Europe [52]. - The company has established a strong collaboration with over 1,000 clients, including major global pharmaceutical companies, enhancing its competitive edge in the CDMO industry [59]. Research and Development - The company is focused on expanding its capabilities in small molecule formulations, gene cell therapy, and new molecular fields [20]. - The company plans to increase its R&D expenditure by 30% in the upcoming year to support innovation [28]. - The company has invested RMB 100 million in new technology development for gene therapy, aiming to advance its product pipeline [28]. - The company completed 216 quality audits during the reporting period, including 22 official regulatory audits, with its Chongqing factory passing the US FDA inspection with "zero defects" [56]. - The company’s small molecule API business accounted for approximately 91% of revenue, a year-on-year decrease of about 21%, while other new businesses (small molecule formulation, gene and cell therapy, new molecular business) saw a revenue share of about 8%, with a year-on-year growth of approximately 35% [49]. Operational Efficiency and Cost Management - The gross margin improved to 45%, up from 40% in the previous year, due to operational efficiencies [28]. - The company is focused on enhancing its compliance capabilities to gain a competitive edge in the restructuring of global supply chains [48]. - The company’s operational efficiency improved, with overall expenses decreasing by about 20% [62]. - The company aims to restore revenue growth and gradually achieve profitability as a key operational goal [111]. - The company plans to enhance CRM marketing transformation to achieve breakthroughs in both quality and quantity of business expansion [111]. Environmental, Health, and Safety (EHS) - The company has established a comprehensive EHS (Environment, Health, and Safety) system, which is considered a core competitive advantage [19]. - The management highlighted a commitment to sustainability, with initiatives aimed at reducing carbon emissions by 20% by 2025 [28]. - The company is committed to maintaining compliance with local and national environmental standards, ensuring sustainable operational practices [161]. - The company has implemented strict monitoring of various pollutants, including ammonia nitrogen with a discharge limit of 45 mg/L, and has reported no exceedance [162]. - The company has established a comprehensive environmental management plan in place to address potential pollution issues across its facilities [161]. Governance and Shareholder Engagement - The company has a governance structure that complies with relevant laws and regulations, ensuring effective management and oversight [120]. - The board of directors consists of 9 members with diverse professional backgrounds, promoting sound decision-making [120]. - The company is focused on maintaining shareholder engagement through regular meetings and updates [124]. - The company has a structured governance framework in place to address shareholder rights and interests [125]. - The company reported a total remuneration of 14.44 million yuan for directors, supervisors, and senior management in 2024 [137]. Investment and Fundraising - The company reported a total investment of 1,154.9 million yuan in the medical manufacturing base, with a cumulative actual investment of 354.01 million yuan by the end of the reporting period [96]. - The company has committed to using the raised funds for specific projects, with a total of 146,200 million yuan allocated [102]. - The company plans to repurpose unutilized fundraising for permanent working capital, following significant changes in the feasibility of the original fundraising projects [104]. - The company has completed the closure of the fundraising account for the terminated "New Drug Service Outsourcing Base R&D Center Construction Project (Phase II)" [104]. Employee Management and Development - The total number of employees at the end of the reporting period is 4,214, with 1,880 in the parent company and 2,334 in major subsidiaries [145]. - The professional composition includes 2,355 production personnel, 184 sales personnel, 1,213 technical personnel, 48 financial personnel, and 414 administrative personnel [145]. - The employee training program focuses on talent identification, development, and alignment with the company's strategic goals, providing targeted training for different levels and positions [147]. - The company has implemented a dual-channel career development system to support employee growth and organizational capability enhancement [147]. - The company emphasizes a fair and competitive compensation system to attract and retain talent, linking compensation to individual performance and company objectives [149]. Compliance and Internal Control - The company has maintained effective internal control over financial reporting as of December 31, 2024, according to the internal control audit report [158]. - The internal control self-evaluation report indicates that 100% of the total assets and operating income of the evaluated units are included in the company's consolidated financial statements [156]. - The company has established a comprehensive internal control system to continuously improve its internal control level [155]. - The internal control audit report aligns with the board's self-evaluation report, confirming consistency in findings [159]. - The company has implemented compliance training for all employees to enhance overall compliance awareness [155].