JINLING PHARM.(SZ:000919)2025-03-28 14:25Financial Performance - The company's operating revenue for 2024 reached ¥3,281,450,555, representing a 2.74% increase compared to ¥3,193,999,850 in 2023[21]. - The net profit attributable to shareholders decreased by 61.95% to ¥40,409,795.7 from ¥106,193,864 in the previous year[21]. - The net cash flow from operating activities was ¥154,190,609, down 27.28% from ¥212,024,737 in 2023[21]. - Basic earnings per share fell by 67.63% to ¥0.0682 from ¥0.2107 in 2023[21]. - Total assets increased by 10.86% to ¥6,088,855,020 compared to ¥5,492,591,080 in 2023[22]. - The net assets attributable to shareholders rose by 17.22% to ¥3,791,090,830 from ¥3,234,294,840 in the previous year[22]. - The company achieved total operating revenue of 328,145.06 million yuan and a net profit attributable to the parent company of 4,040.98 million yuan during the reporting period[49]. - The total revenue for the reporting period was ¥3,281,450,554.7, representing a year-on-year increase of 2.74% from ¥3,193,999,854.5[61]. - Revenue from pharmaceutical production and sales decreased by 3.93% to ¥1,493,178,383.1, while medical services revenue increased by 10.83% to ¥1,740,050,342.0[61]. Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 623,708,628 shares[3]. - The company reported a cash dividend of 1.00 yuan per 10 shares, totaling 62,370,862.80 yuan for the reporting period[162]. - The cash dividend distribution accounted for 100% of the total profit distribution amount[162]. - The total distributable profit available for shareholders at the end of 2024 is 889,118,106.16 yuan, after accounting for the net profit and dividends paid[164]. - The company’s profit distribution policy was executed in accordance with its articles of association, ensuring the protection of minority shareholders' rights[162]. Business Operations and Changes - The company has undergone business changes, expanding from pharmaceutical manufacturing to include medical services and health care services since 2003[19]. - The company operates in the pharmaceutical and medical device manufacturing sectors, focusing on traditional Chinese medicine and chemical drugs, with key products including "Mailuo Ning Injection" and "Ferrous Succinate Tablets"[43]. - The company has maintained a stable revenue stream, with a low debt ratio and financial leverage, indicating strong financial health[48]. - The company has implemented a management model that integrates investment management and operational oversight across its subsidiaries, ensuring strategic alignment and resource optimization[44]. - The company is actively expanding its healthcare services, including integrated medical and elderly care services, to meet the growing demand in the market[45]. Market Trends and Industry Insights - The pharmaceutical manufacturing industry in China achieved a revenue of ¥3.5 trillion in 2024, growing by 8.5% year-on-year[31]. - The overall medical service market size in 2024 is estimated at 4.8 trillion yuan, reflecting a 9% year-on-year increase[33]. - The elderly medical consumption market size is projected to reach 2.2 trillion yuan in 2024, with a year-on-year growth of 10%[35]. - The number of remote medical service institutions is anticipated to grow by 20% in 2024, reaching 150,000[34]. - Online consultation volume is expected to increase by 30% in 2024, reaching 1 billion consultations[34]. Research and Development - Investment in innovative drug research and development increased to 15% of total revenue, up 2 percentage points from the previous year[31]. - The company invested ¥110,692,200 in research and development during the reporting period, maintaining growth in R&D expenditure[57]. - The company reported a total R&D expenditure of ¥110,692,239.54, an increase of 39.86% compared to ¥79,143,338.26 in the previous year, representing 3.37% of total revenue[75]. - The number of R&D personnel increased by 16.79% to 153, with a notable rise in the number of master's and doctoral degree holders[74]. - The company has a robust drug pipeline, with multiple projects in various stages of development, including drugs for chronic heart failure and advanced breast cancer[58][59]. Acquisitions and Investments - The acquisition of a 51% stake in Nanjing Meishan Hospital was completed, enhancing the company's medical service sector and resolving competition issues with the controlling shareholder[53]. - The company completed a stock issuance to specific investors, with funds received on March 25, 2024, to support key projects[52]. - The company is actively pursuing partnerships and collaborations to enhance its research capabilities and product offerings[56]. - The company is exploring potential acquisitions to enhance its product portfolio, targeting companies with annual revenues of $50 million to $200 million[135]. Governance and Compliance - The company has implemented a governance structure that complies with relevant laws and regulations, enhancing its governance level[114]. - The board of directors operates independently, with independent directors having sufficient access to information to fulfill their duties[115]. - The company has established an independent financial department with a standardized accounting system and separate bank accounts, ensuring independent tax compliance[118]. - The company has disclosed its "Quality and Return Dual Improvement" action plan, indicating a commitment to enhancing quality and returns[112]. - The company has maintained effective internal controls in all significant aspects of financial reporting[174]. Environmental Responsibility - The company has implemented a VOCs "one enterprise, one policy" governance plan since 2021 to improve air quality[191]. - The company has actively participated in the "waste-free factory" initiative and received certification as a "waste-free factory" in Nanjing[190]. - The company paid 11,729.83 yuan in environmental protection tax for the year 2024[190]. - The company has implemented "rainwater and sewage diversion" systems at its facilities to enhance wastewater treatment efficiency[186]. - Jinling Pharmaceutical Factory's average COD discharge concentration in 2024 was 78.3 mg/L, significantly below the limit of 500 mg/L[186]. Employee Management and Training - The total number of employees at the end of the reporting period was 5,789, with 882 in the parent company and 4,907 in major subsidiaries[156]. - The company conducted 1,273 training sessions in 2024, with a total training investment exceeding 5 million yuan, achieving a 100% training coverage rate[159]. - The company has a performance-oriented compensation policy, linking employee salaries to individual, departmental, and overall company performance[158]. - The average training hours per employee were approximately 2 hours, reflecting the company's commitment to talent development[159]. - The company has a diverse management team with various roles, including a total of 8 assistant presidents[140][141].