BUCHANG PHARMA(603858)2025-04-25 13:40Financial Performance - In 2024, the company reported a net profit attributable to shareholders of negative value, leading to a decision not to distribute cash dividends or increase capital reserves[6]. - The company's operating revenue for 2024 was CNY 11,005,794,900.15, a decrease of 16.91% compared to CNY 13,245,133,303.78 in 2023[23]. - The net profit attributable to shareholders was -CNY 553,797,938.80 in 2024, representing a decline of 273.62% from CNY 318,973,324.80 in 2023[23]. - The basic earnings per share for 2024 was -CNY 0.5110, down 277.18% from CNY 0.2884 in 2023[24]. - The company reported a net cash flow from operating activities of CNY 939,950,568.92 in 2024, a significant recovery from -CNY 195,605,226.23 in 2023[23]. - The total assets at the end of 2024 were CNY 19,328,509,108.36, a decrease of 7.48% from CNY 20,892,297,542.28 at the end of 2023[23]. - The company’s weighted average return on equity was -5.07% in 2024, a decrease of 7.73 percentage points from 2.66% in 2023[24]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% year-over-year growth[154]. - The company reported a total revenue of 1.4 billion RMB for the fiscal year 2024, reflecting a year-on-year growth of 15%[159]. - The company reported a net loss attributable to ordinary shareholders of approximately 553.8 million RMB for the most recent fiscal year[189]. Shareholder Actions - The total amount spent on share repurchases was CNY 710,527,866.30, with plans to cancel the repurchased shares after shareholder approval[6]. - The cumulative cash dividend amount over the last three fiscal years was approximately 1.1974 billion RMB[191]. - The total amount for share repurchases and cancellations over the last three fiscal years was approximately 933.99 million RMB[191]. - The total cash dividend and share repurchase amount over the last three fiscal years reached approximately 2.1314 billion RMB[191]. - The company's retained earnings at the end of the most recent fiscal year were approximately 5.3656 billion RMB[191]. Risk Management - The company has outlined various risks in its operations, including industry and management risks, which are detailed in the management discussion section[8]. - The company has a comprehensive risk management strategy in place to address potential operational challenges[8]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company has not faced any situations where more than half of the directors could not guarantee the authenticity of the annual report[8]. - The company faces risks related to drug price reductions due to national policy influences, which may compress profit margins[140]. Research and Development - The company applied for 35 new patents in 2024 and successfully obtained 27 patents, including 9 invention patents[34]. - The company is developing 12 biological products targeting major diseases such as tumors and osteoporosis, with some products entering the NDA application stage[35]. - The company has a diverse pipeline of products under development, focusing on major disease areas such as cardiovascular, gynecology, diabetes, malignant tumors, digestive, and respiratory systems[62]. - The company is actively engaged in vaccine research and development, with multiple products in various stages, including flu and meningococcal vaccines[60]. - The company is enhancing its understanding and investment in biopharmaceuticals, with plans to complete the production base in Luzhou, Sichuan[131]. - The company has established a research and development model that combines independent innovation with external technical cooperation, enhancing its technological capabilities[101]. - The company is focusing on research and development of new products and technologies to drive future growth[150]. Market Strategy - The company aims to leverage clinical data to validate product efficacy and enhance market reputation, thereby driving sales growth[33]. - The company aims to establish a comprehensive health industry chain, including investments in medical devices, cosmetics, disinfectants, health products, and health foods[35]. - The company is actively expanding into various therapeutic areas, including gynecology, urology, diabetes, and malignant tumors, while leveraging its traditional strengths in traditional Chinese medicine[53]. - The company is focused on integrating traditional Chinese medicine with modern pharmaceutical processes to enhance treatment efficacy[35]. - The company plans to enhance its marketing budget by 25% to support new product launches and brand awareness initiatives[156]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB earmarked for this purpose[154]. Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[3]. - The company has established a governance structure compliant with relevant laws and regulations, ensuring independent operation of its board and management[147]. - The company is committed to strict compliance with legal regulations and internal guidelines in all committee activities[173][174][175]. - The company is revising its internal governance documents, including the Articles of Association and decision-making rules for related transactions[165]. - The company has proposed to revise its articles of association and governance rules to enhance operational efficiency and compliance[150]. Employee and Talent Management - The total number of employees in the parent company is 1,735, while the total number of employees in major subsidiaries is 5,954, resulting in a combined total of 7,689 employees[180]. - The company has established effective talent introduction and training mechanisms to enhance its innovation capabilities[36]. - The training plan includes establishing a talent growth platform, multi-level training based on employee roles, and integrating training assessments into performance evaluations[183]. - The company emphasizes a fair salary policy based on external and internal equity, market principles, strategic orientation, and economic principles[182]. Environmental Responsibility - The company invested approximately 8.6791 million RMB in environmental protection during the reporting period[198]. - The total annual discharge of chemical oxygen demand from the factory was 41.6 tons, with a concentration of 91.1 mg/L[199]. - The total annual discharge of ammonia nitrogen was 0.1892 tons, with a concentration of 0.408 mg/L[199].