JIANGSU GDK(688670)2025-04-17 13:20Financial Performance - The company reported no cash dividends or stock bonuses for the fiscal year, with retained earnings carried forward to the next year [5]. - The company has not yet achieved profitability since its listing [3]. - The company's operating revenue for 2024 was ¥80,802,661.83, a decrease of 39.96% compared to ¥134,591,377.00 in 2023 [21]. - The net profit attributable to shareholders for 2024 was -¥93,502,830.64, compared to -¥70,990,269.78 in 2023 [21]. - The cash flow from operating activities for 2024 was -¥131,387,331.33, a decline of 262.40% from ¥80,904,692.08 in 2023 [21]. - The company's total assets at the end of 2024 were ¥1,532,908,768.58, down 6.05% from ¥1,631,601,305.25 at the end of 2023 [21]. - The net profit attributable to shareholders of the parent company was -93.50 million yuan, a year-on-year decrease of 31.71% [35]. - The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was -106.22 million yuan, a year-on-year decrease of 46.37% [35]. - The gross profit margin for the main business was 62.61%, a decrease of 15.20 percentage points compared to the previous year [92]. - The company achieved operating revenue of 80.80 million yuan in the reporting period, a year-on-year decrease of 39.96% [35]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 51.81% in 2024, up 28.43 percentage points from 23.38% in 2023 [22]. - The total R&D investment for the year reached ¥41,862,896.94, an increase of 33.06% compared to the previous year [72]. - The company has established four core technology platforms for vaccine production, covering the entire process of human vaccine research and industrialization [42]. - The company is currently developing 9 major products targeting influenza, rabies, chickenpox, shingles, and pneumonia [76]. - The company has obtained 5 invention patents and 2 utility model patents during the reporting period, enhancing its intellectual property portfolio [65]. - The company is focusing on external collaborations to enhance its R&D capabilities and expand its product pipeline, particularly in the area of new vaccine technologies [60]. - The company has established a comprehensive vaccine R&D and production technology platform, which will support the development of various influenza vaccines and other viral vaccines in the future [63]. - The company is actively conducting preliminary research on adjuvants for influenza vaccines, with plans to initiate development projects based on process research outcomes [36]. - The company has made significant progress in developing a quadrivalent influenza vaccine, with ongoing projects in various clinical stages [76]. - The company aims to complete the pilot-scale process development for all 23 serotypes of the 23-valent pneumococcal polysaccharide vaccine by 2025 [60]. Market and Competitive Landscape - The company plans to leverage the growing market opportunities in China's influenza vaccine sector, which has significant growth potential compared to foreign markets [35]. - The overall vaccination rate for influenza vaccines in China is approximately 3%, significantly lower than the nearly 50% rate in Europe and the US, indicating substantial market growth potential [40]. - The company is accelerating the construction of new production lines for influenza vaccines, which will fundamentally address the long production cycle issue [40]. - The company is focusing on upgrading traditional vaccines and developing innovative vaccines, particularly in the flu vaccine segment, to enhance its competitive advantage [134]. - The company is exploring various sales channels and enhancing customer service to better meet domestic market demands and improve localization capabilities [81]. - The company is actively preparing for GMP inspection of a new production facility to expedite its operational readiness [81]. - The company is considering strategic acquisitions to enhance its product offerings and market presence, with potential targets identified [146]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $100 million allocated for this purpose [148]. Governance and Compliance - A standard unqualified audit report was issued by the accounting firm for the company [4]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report [4]. - There are no non-operational fund occupations by controlling shareholders or related parties [7]. - The company has not violated decision-making procedures for external guarantees [7]. - The company has established a governance structure that ensures compliance with relevant laws and regulations, enhancing decision-making efficiency [139]. - The company has established an internal control system, with no significant deficiencies reported during the period [176]. - The company has a governance structure that includes a shareholders' meeting, board of directors, and supervisory board to protect shareholder rights [180]. Environmental and Social Responsibility - The company has invested 1.3326 million RMB in environmental protection measures during the reporting period [184]. - The company has set up a wastewater treatment station to ensure that wastewater discharge meets regulatory standards [182]. - The company actively participates in public health initiatives, donating quadrivalent influenza vaccines to support national health efforts [182]. - The company has implemented effective measures for solid waste management, including hazardous waste disposal by qualified companies [193]. - The company has a dedicated environmental management team responsible for environmental protection and safety production [197]. - The company utilizes rooftop photovoltaic power generation, achieving certain results in energy conservation [196]. - The company has not faced any administrative penalties due to environmental issues during the reporting period [190]. Future Outlook - Future guidance indicates a strong growth trajectory, with expectations of continued revenue increases in the upcoming quarters [147]. - The company plans to expand its market presence and is focusing on new product development to enhance its competitive edge [147]. - The management anticipates a positive impact on user data metrics as a result of new product launches and technological enhancements [200]. - Future outlook includes a commitment to increasing R&D investment to support long-term growth objectives [200]. - The company aims to enhance its core competitiveness in the human vaccine field by increasing R&D investment and focusing on new product development [199]. - The company is committed to sustainability practices as part of its long-term strategic vision [147].