Hiteck(SZ:300683)2025-04-20 07:40Financial Performance - The company reported a significant loss due to intensified market competition and insufficient orders in the raw materials and intermediates business, leading to a revenue shortfall[6]. - The company incurred inventory impairment losses of approximately 10 million yuan due to reduced sales prices and high fixed asset depreciation costs in its subsidiaries[6]. - Non-operating income for the reporting period was approximately 35 million yuan, primarily from investment income and government subsidies, with government subsidies accounting for about 28 million yuan[6]. - The company plans to not distribute cash dividends or issue bonus shares for the reporting period[9]. - The company's operating revenue for 2024 was ¥648,974,123.98, representing a 7.75% increase compared to ¥602,284,306.91 in 2023[23]. - The net profit attributable to shareholders for 2024 was -¥69,348,658.66, an improvement of 42.60% from -¥120,822,819.73 in 2023[23]. - The net cash flow from operating activities increased significantly by 326.89% to ¥22,685,841.71 in 2024, compared to ¥5,314,257.07 in 2023[23]. - The total assets at the end of 2024 were ¥2,936,633,525.41, a decrease of 1.17% from ¥2,971,251,156.62 at the end of 2023[23]. - The company's basic earnings per share improved to -¥0.53 in 2024 from -¥0.93 in 2023, reflecting a 43.01% increase[23]. - The company reported a significant reduction in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to -¥103,726,470.25 in 2024, down from -¥146,323,982.19 in 2023, a decrease of 29.11%[23]. - The weighted average return on equity improved to -2.84% in 2024 from -4.85% in 2023, indicating a positive trend[23]. - The company received government subsidies amounting to ¥28,537,142.09 in 2024, compared to ¥12,766,083.34 in 2023, reflecting a significant increase in support[29]. Market and Industry Outlook - The global biopharmaceutical market is projected to grow from $36.38 billion in 2022 to $78.32 billion by 2030, with a compound annual growth rate (CAGR) of approximately 10.1%[32]. - The Chinese biopharmaceutical market is expected to grow from $66.5 billion in 2023 to $162.8 billion by 2030, with a CAGR of about 13.64%[33]. - The global CRO market is projected to grow from approximately $82.11 billion in 2023 to $106.45 billion by 2026, with a compound annual growth rate (CAGR) of about 9%[36]. - The Chinese CRO market is expected to expand from approximately 84.82 billion RMB in 2023 to 112.65 billion RMB by 2026, with a CAGR of around 10%[36]. - The market size for mouse nerve growth factor in China peaked at approximately 3.3 billion RMB in 2016, but has since declined due to policy impacts, particularly after its removal from the national medical insurance directory in 2019[34]. Business Operations and Services - The company continues to provide CRO, CMO, and CDMO services to domestic and international pharmaceutical companies, indicating a stable operational environment[8]. - The company has not experienced overcapacity or technological decline in its industry, suggesting a favorable market outlook[8]. - The company provides a comprehensive range of services including CRO, CMO, and CDMO, covering the entire value chain from drug development to clinical services and production[37]. - The company’s subsidiary, Tianjin Hankan, provides integrated CRO-CDMO services, covering the entire value chain from drug research to commercialization[50]. - The company’s subsidiary, Jingmen Hanrui, has over 102 multifunctional workshops and 103 antiviral workshops that have begun commercial production[52]. - The company offers raw material drug development, quality analysis, and stability research services, enhancing drug safety and quality[53]. - The CRO clinical services include I to IV phase clinical trial technical services, data management, and statistical analysis, ensuring comprehensive support for clinical research[54]. - The company has established a clinical trial institution data archive, facilitating the selection of qualified research units for clinical studies[55]. - The company is expanding its business scope from pharmaceutical R&D outsourcing to Contract Development and Manufacturing Organization (CDMO) services, providing integrated R&D and production services from preclinical to commercialization[56]. Research and Development - The company focuses on independent R&D, continuously promoting technological innovation and the development of new products[58]. - The company has established over 10 advanced formulation and raw material development platforms, enabling it to support more than 200 projects simultaneously[38]. - The company is engaged in independent research of small molecule chemical drugs, aiming to obtain clinical and production approvals for new products[72]. - The company is developing technical platforms for oral sustained-release formulations and injectable drug development to improve project quality and success rates[73]. - The company achieved dual-driven growth, with major products including Jinlujie and Epanemide contributing to performance and enhancing core competitiveness[74]. - The company has multiple small molecule generic drugs and active pharmaceutical ingredients under development, with progress reported as smooth[74]. - The company received NMPA approval for several new products, including Jinlujie eye drops and various generic drugs, expected to enrich the product pipeline[74]. - The company is actively pursuing the development of new indications for CPT in treating multiple myeloma and solid tumors[124]. - The company is committed to enhancing its R&D capabilities and optimizing project selection to mitigate risks associated with new drug development[136]. Governance and Compliance - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and management[5]. - The company has implemented a rigorous internal control system to monitor the compliance of fundraising activities[112]. - The company has established a dedicated bank account for the management of raised funds, ensuring proper tracking and usage of the funds[112]. - The audit department conducts quarterly checks on the usage of raised funds and reports findings to the audit committee[112]. - The company is committed to adhering to regulations regarding the management and use of raised funds as per relevant laws and guidelines[112]. - The company has a clear governance structure with independent directors and a diverse management team[159]. - The company maintains independence from its controlling shareholder in business, assets, personnel, and financial aspects[154]. - The company has an independent financial department with a sound financial management system, ensuring independent financial decision-making[156]. - The company emphasizes transparency in information disclosure, ensuring all shareholders receive fair access to relevant information[153]. - The company has established specialized committees within the board, including audit and remuneration committees, to enhance governance[147]. Employee and Talent Management - The company has a strong leadership team with diverse backgrounds in finance and management[162]. - The total number of employees at the end of the reporting period is 1,309, with 284 in the parent company and 1,025 in major subsidiaries[186]. - The employee composition includes 766 technical personnel, 318 production staff, and 90 sales personnel, reflecting a strong emphasis on technical expertise[186]. - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[191]. - The company plans to continue leveraging its compensation and benefits system to enhance employee motivation and reduce turnover in 2025[188]. - The company has no outsourced labor arrangements, indicating a focus on in-house talent management[190]. - The company implemented a salary increase covering 45% of employees in 2022, and all employees received timely salary payments, holiday subsidies, performance bonuses, and year-end bonuses in 2024[188]. - In 2024, the company conducted over 230 GMP-related training sessions, focusing on biopharmaceutical content to enhance employees' theoretical knowledge and operational skills[189]. Strategic Initiatives and Future Plans - The company plans to enhance R&D investment, focusing on innovative drug development and expanding its drug pipeline[124]. - The company aims to create optimal innovative drugs through a dual-driven approach of R&D and market expansion[76]. - The company is exploring strategic acquisitions to bolster its portfolio, with potential targets identified in the biotechnology sector[170]. - The company is actively monitoring national policies and market conditions to mitigate risks associated with its fundraising projects[135]. - The company aims to expand its R&D pipeline through strategic collaborations and technology transfers to accelerate project progress[136]. - The company is focusing on expanding its market presence and enhancing its product offerings[162]. - The company is committed to maintaining high standards in corporate governance and management practices[160]. - The company is actively participating in industry associations to promote its interests and innovations[162].