SENXUAN(830946)2025-04-14 12:55Financial Performance - In 2024, Jiangsu Senxuan Pharmaceutical reported a revenue of ¥537,136,066.43, a decrease of 8.89% compared to ¥589,560,024.01 in 2023[27] - The net profit attributable to shareholders was ¥123,759,884.41, down 8.00% from ¥134,523,788.78 in the previous year[27] - Basic earnings per share decreased to ¥0.2899, down 8.00% from ¥0.3151 in 2023[27] - Operating cash flow decreased by 9.59% to ¥171,257,287.81 compared to 2023[28] - The company achieved operating revenue of 537.14 million yuan, a decrease of 8.89% year-on-year, and a net profit attributable to shareholders of 123.76 million yuan, down 8.00% year-on-year[44] - The net cash flow from operating activities for 2024 was ¥171,257,287.81, a decrease of 9.59% compared to ¥189,413,303.80 in 2023[67] - The total investment amount for the reporting period was ¥165,000,000.00, down 30.67% from ¥238,000,000.00 in the previous year[70] Profitability and Margins - The gross profit margin improved to 43.58% in 2024 from 43.01% in 2023[27] - The interest coverage ratio improved to 253.21 from 175.45 in 2023[28] - The weighted average return on equity based on net profit attributable to shareholders was 10.69% in 2024, down from 12.18% in 2023[27] - Non-recurring gains and losses totaled ¥7,444,388.62 for 2024[35] Assets and Liabilities - Total assets increased by 2.02% to ¥1,354,157,745.02 compared to the end of 2023[28] - Total liabilities decreased by 24.20% to ¥89,240,145.11 compared to the end of 2023[28] - Net assets attributable to shareholders increased by 4.87% to ¥1,191,365,157.56 compared to the end of 2023[28] Market and Product Development - The company plans to continue expanding its product offerings and market presence in the pharmaceutical sector[12] - The company is advancing the construction of a project with an annual output of 40 tons of Lopinavir and 60 tons of Ritonavir, which is expected to contribute to future revenue growth[44] - The company is developing new products and expanding its market through various R&D projects, including those in the small trial stage[86] - The company aims to launch 1-2 new raw material drug varieties annually, stabilizing the proportion of raw material drug sales in total revenue[137] Research and Development - R&D expenditure amounted to ¥28,636,950.09, representing 5.33% of operating revenue, an increase from 4.78% in the previous period[82] - The total number of R&D personnel decreased from 108 to 91, with the proportion of R&D staff to total employees rising from 15.19% to 16.77%[83] - The company holds a total of 192 patents, up from 150 in the previous period, including 42 invention patents, an increase from 31[84] - The company has successfully optimized the synthesis process for Ritonavir, achieving a total yield of 40-50% and a compound purity exceeding 99%[92] Environmental Compliance - The company complied with environmental protection standards and regulations, ensuring proper waste management and emissions control[99] - The environmental protection licenses for various projects were obtained, with validity extending until 2029 for some projects[101] - The company conducts annual monitoring of volatile organic compounds (VOCs) and other pollutants at the waste gas incineration furnace, with specific monitoring frequencies for various substances[110] - The company has implemented online monitoring devices for wastewater discharge, ensuring real-time data transmission to local environmental authorities[116] Corporate Governance and Compliance - The company identified revenue recognition as a key audit matter due to the inherent risk of management manipulating revenue to meet specific targets[93] - The audit response included analytical review of revenue, testing of internal controls, and sampling of domestic and international sales transactions[93] - The company’s audit committee confirmed that the accounting firm has no relationships affecting its independence and has experience in auditing listed companies[96] Employee Management - The total number of employees decreased from 644 to 599 during the reporting period, with a reduction of 59 employees[188] - The company maintains a stable employee compensation policy that includes fixed salaries and performance-based incentives[189] - The company has established training programs in collaboration with renowned universities to enhance employee skills[189] Risks and Challenges - The company faces environmental regulatory risks due to stricter pollution control measures, which may increase production costs and lead to the elimination of non-compliant enterprises[138] - The company is exposed to tax policy risks related to high-tech enterprise status, which could impact operations if tax incentives are lost[139] - The company is at risk of foreign exchange losses due to RMB fluctuations as it expands its overseas market presence, which may affect product pricing and competitiveness[139] Community Engagement - The company actively responded to national poverty alleviation policies through donations and support for remote areas[97]