Bide Pharmatech (SH:688073)2025-04-24 02:10Financial Performance - The company achieved a net profit attributable to shareholders of RMB 117,426,163.51 for the year 2024, with an undistributed profit of RMB 90,752,956.97 at year-end [5]. - A cash dividend of RMB 9.00 per 10 shares (including tax) is proposed, with a total cash dividend amounting to RMB 78,179,748.30 (including tax) based on 86,866,387 shares eligible for distribution [5]. - The cash dividend ratio is 66.58% of the annual net profit attributable to shareholders [5]. - The company's operating revenue for 2024 reached ¥1,102,010,333.61, a 0.93% increase compared to ¥1,091,858,561.97 in 2023 [23]. - Net profit attributable to shareholders for 2024 was ¥117,426,163.51, reflecting a 7.17% increase from ¥109,571,788.68 in 2023 [23]. - The net profit after deducting non-recurring gains and losses decreased by 15.09% to ¥104,019,775.67 in 2024 from ¥122,510,054.55 in 2023 [23]. - Cash flow from operating activities improved significantly to ¥158,312,705.51 in 2024, compared to a negative cash flow of ¥57,387,600.78 in 2023 [23]. - Total assets at the end of 2024 were ¥2,418,035,118.40, a slight increase of 0.12% from ¥2,415,027,980.82 in 2023 [23]. - Basic earnings per share for 2024 increased to ¥1.32, up 9.09% from ¥1.21 in 2023 [24]. - The net assets attributable to shareholders decreased by 2.99% to ¥2,027,122,463.64 at the end of 2024 from ¥2,089,542,152.33 at the end of 2023 [23]. Research and Development - The R&D expenditure as a percentage of operating revenue was 5.36% in 2024, down from 5.79% in 2023 [24]. - Total R&D expenditure for the year was ¥59,054,452.56, a decrease of 6.60% compared to the previous year [63]. - The company applied for 41 new invention patents during the reporting period, with 12 granted, bringing the cumulative total to 71 applications and 51 grants [61]. - The company is currently developing new thienyl boronic acid compounds with a total investment of ¥450 million, of which ¥156.25 million has been invested this period [65]. - The company has developed nearly 1 million types of drug molecular building blocks, with a focus on high chemical stability and biological activity to improve research efficiency for clients [56]. - The company is focused on technological innovation and expanding its product lines to meet diverse customer needs [49]. - The company is developing new types of boronic acid compounds, achieving a domestic advanced technology level with a budget of 350 million and current expenditure of 267.07 million [70]. Market Strategy and Expansion - The company is advancing its international strategy by enhancing overseas market expansion and establishing overseas R&D centers [36]. - The company has a global sales network with regional centers in the US, Europe, and India, covering multiple countries and regions by 2024 [49]. - The company aims to support new drug development and become the most trusted partner for clients [40]. - The company is expanding its regional centers in the U.S., Germany, and India to enhance local customer service efficiency [79]. - The company is exploring strategic acquisitions to enhance its product portfolio, with a target of completing at least one acquisition by the end of 2024 [148]. Corporate Governance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report [3]. - The company has not reported any special arrangements for corporate governance [8]. - The company emphasizes the importance of independent directors in reviewing and approving profit distribution plans to protect shareholder interests [173]. - The company held 8 board meetings, 5 supervisory board meetings, and 2 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements [134]. - The company’s governance structure has been continuously improved to ensure that shareholders can fully exercise their rights and that the board can make informed decisions [134]. Environmental and Social Responsibility - The company has established an ESG strategy and invested CNY 300.87 million in environmental protection during the reporting period [192]. - The company has established dedicated environmental protection systems to ensure compliance with emission standards for wastewater, waste gas, and noise [195]. - The company operates two research and development centers, each equipped with a waste gas treatment system, ensuring effective collection and compliant discharge of generated waste gas [197]. - No administrative penalties were imposed on the company or its subsidiaries for environmental violations during the reporting period [194]. - The company has established an environmental management system in accordance with ISO14001:2015 standards [199]. Employee and Talent Management - The number of R&D personnel decreased by 31.94% year-on-year, from 191 to 130 [77]. - The total compensation for R&D personnel was RMB 3,185.65 million, down from RMB 3,909.76 million [77]. - The company plans to continuously cultivate and attract high-quality R&D talent to enhance its R&D capabilities and competitiveness [78]. - The R&D team consists of 6 PhD holders, 19 master's degree holders, 94 bachelor's degree holders, and 2 with high school education or below [78]. - The company conducted 66 training sessions throughout the year, achieving an overall training satisfaction rate of over 90% [167]. Financial Management and Investment - The company has invested a total of CNY 168,355,390.31 in research and development over the last three accounting years, accounting for 5.56% of cumulative operating revenue [181]. - The company reported a significant increase in fixed assets by 135.36% to 100,688,680.83 RMB, primarily due to the acquisition of overseas warehouses [110]. - The company’s cash flow from investing activities was -158,477,659.93 RMB, indicating a substantial outflow compared to the previous year [111]. - The company has not made any share repurchases or cancellations in the last three accounting years [180]. - The company’s management must provide detailed explanations if no cash dividend proposal is made despite annual profits, ensuring accountability [172].