BOJI CRO(300404)2025-04-25 13:05Financial Performance - Boji Medical Technology Co., Ltd. reported a revenue of RMB 500 million for the fiscal year 2024, representing a 20% increase compared to RMB 416.67 million in 2023[20]. - The company's operating revenue for 2024 reached ¥742,019,124.54, representing a 33.50% increase compared to ¥555,832,418.60 in 2023[5]. - The net profit attributable to shareholders for 2024 was ¥28,776,806.52, an 18.23% increase from ¥24,339,436.55 in 2023[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 92.71% to ¥19,304,628.89 from ¥10,017,432.95 in 2023[5]. - The company anticipates a net profit margin of 10% for 2024, compared to 8% in 2023, driven by operational efficiencies[20]. - The company reported a total investment of ¥44,125,000.00 during the reporting period, representing a substantial increase of 186.48% compared to ¥15,402,616.00 in the previous year[85]. - The company achieved a gross profit margin of 64.64% for the reported period[93]. Dividend Distribution - The company plans to distribute a cash dividend of 0.12 yuan per 10 shares to all shareholders, based on a total of 380,503,928 shares[8]. - The cash dividend represents 100% of the total distributable profit of RMB 28,776,806.52 for the year[154]. - For the year 2024, the company proposes a cash dividend of RMB 0.12 per 10 shares, with a total expected payout of RMB 4,566,047.14[156]. Business Expansion and Strategy - The company aims to expand its market presence by launching three new drug candidates in 2024, targeting a market size of approximately RMB 1 billion[20]. - The company is expanding its business into preclinical research and CDMO services, facing potential risks due to competition and lack of experience in these areas[8]. - The company is pursuing strategic acquisitions to bolster its capabilities, with a target of completing two acquisitions by the end of 2024[20]. - The company is focused on enhancing its digital health solutions, aiming for a 50% increase in user engagement through its online platforms in 2024[20]. - The company is committed to increasing its market share in the CDMO sector by improving order fulfillment capabilities and reducing delivery cycles, targeting rapid revenue growth from commercialized products[108]. Research and Development - The company has allocated RMB 100 million for research and development of new technologies and products in 2024, a 25% increase from RMB 80 million in 2023[20]. - The company has developed a one-stop service platform for preclinical research, significantly enhancing its capabilities in pharmacology and toxicology evaluations[49]. - The company has achieved GLP certification for its non-clinical evaluation services, covering various therapeutic areas, including cardiovascular and oncology drugs[52]. - The company is developing a long-acting nano-crystal technology platform aimed at improving drug delivery and reducing administration frequency, which is anticipated to create new business growth points[71]. - The company has completed the development of a new formulation of berberine for children, which is easier to administer[73]. Risk Management - The company acknowledges the risk of contract execution delays due to the complex nature of new drug development, which may lead to increased operational costs[5]. - The company emphasizes the importance of internal management and integration to mitigate risks associated with its expanding operational scale and business scope[8]. - The company recognizes the volatility of drug approval policies in China, which could impact its R&D investments and revenue[4]. - The company has established specific responsibility-sharing models in contracts to address potential delays and associated penalties[6]. Market Competition - The company faces increased market competition from domestic CRO companies, necessitating higher marketing and service standards[7]. - The Chinese CRO industry is expected to maintain a CAGR of 14%-16% from 2024 to 2026, with the market size projected to reach ¥478 billion in 2024[32]. - The company anticipates strong demand for outsourced clinical research services due to increasing complexity in drug development and stricter regulatory requirements[33]. Governance and Compliance - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, and finance[118]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[114]. - The company has a dedicated financial department and independent financial decision-making capabilities[118]. - The company has not faced any disciplinary actions from regulatory bodies regarding internal control issues during the reporting period[117]. - The company ensures timely and accurate information disclosure through designated platforms and publications[115]. Environmental Responsibility - The company has obtained a wastewater discharge permit valid until October 31, 2027[187]. - The wastewater treatment facility has a capacity of 120m³/d and employs a "flocculation sedimentation + iron-carbon micro-electrolysis" process[189]. - The company reported a total wastewater discharge of 0.33 tons for CODcr, which is below the regulatory limit of 0.412 tons per annum[188]. - The company has established solid waste management records to ensure compliance with environmental regulations[192]. Employee Management - The company had a total of 1,169 employees at the end of the reporting period, with 888 being technical personnel, representing approximately 76% of the workforce[148]. - The company has a comprehensive training system that includes various training categories, ensuring continuous development of employee skills and capabilities[151]. - The company has implemented a differentiated compensation policy based on department, position, and job nature, aiming for performance-oriented salary management[150]. Future Outlook - The company plans to continue expanding its market presence and enhancing product development strategies[1]. - Future outlook includes potential adjustments in management structure following the resignation of certain executives in 2025[140]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[134].