Sito Bio(SZ:300583)2025-04-28 10:10Financial Performance - The company's net profit attributable to shareholders decreased by 43.19 million RMB due to a decline in product prices and sales gross margin [6]. - The company recorded an impairment loss on inventory of 49.52 million RMB, impacting net profit attributable to shareholders [6]. - The company's operating revenue for 2024 is reported at ¥970,601,329.97, a decrease of 24.16% compared to ¥1,279,783,092.49 in 2023 [22]. - The net profit attributable to shareholders for 2024 is a loss of ¥88,766,731.73, representing a decline of 294.65% from a profit of ¥45,603,990.98 in 2023 [22]. - The basic earnings per share for 2024 is reported at -¥0.47, a decrease of 288.00% from ¥0.25 in 2023 [22]. - The net cash flow from operating activities increased by 309.44% to ¥194,459,589.28 in 2024, compared to ¥92,845,544.21 in 2023 [22]. - The net cash flow from operating activities for 2024 is projected to be 194.46 million RMB, significantly improved compared to the previous year [49]. - The company reported a net profit for the period at -¥101,328,265.58, primarily due to increased asset impairment losses [84]. - The cumulative distributable profit available to investors as of December 31, 2024, is RMB 278,696,334.13 [175]. Cash Flow and Investments - Operating cash flow significantly improved, with a positive net cash flow from operating activities, while period expenses slightly decreased compared to the previous year [6]. - The net cash flow from investment activities improved by 41.82%, resulting in a net outflow of ¥57,314,227.14 in 2024 [85]. - The net cash flow from financing activities decreased by 150.99%, leading to a net outflow of ¥163,036,731.74 [85]. - The company has invested nearly 400 million RMB in R&D since its establishment, with over 90 patents and software copyrights, including 25 invention patents [54]. - The total investment during the reporting period was ¥113,569,038.88, a 15.80% increase compared to ¥98,073,041.06 in the same period last year [94]. Business Strategy and Market Position - The company plans to enhance technology and optimize production processes in 2025 to further reduce product costs and improve quality and market competitiveness [6]. - The company emphasizes a "quality first, service foremost" business philosophy, achieving an increase in customer numbers and product sales despite price declines [6]. - The company aims to enhance its market competitiveness by implementing a full industry chain strategy encompassing intermediates, raw materials, and finished formulations [50]. - The company is focusing on maintaining cash flow stability and improving operational quality as its primary goal for 2024 [48]. - The company is committed to a strategy of "stabilizing market share, ensuring cash flow, promoting registrations, and divesting underperforming assets" in response to market challenges [57]. Research and Development - The company has established long-term partnerships with major pharmaceutical firms, leveraging its technological advantages in steroid drug raw materials [38]. - The company is exploring AI-driven innovative drug development in collaboration with AI biotechnology firms, aiming to extend its capabilities from intermediates to a full industry chain [41]. - The company’s R&D expenses for 2024 were ¥58,379,409.91, an increase of 6.00% compared to ¥55,076,380.87 in 2023 [80]. - The R&D expenditure as a percentage of operating income rose to 6.01% in 2024 from 4.30% in 2023 [82]. - The company has implemented a long-term development strategy for full-chain upgrades since 2019, with orderly execution over the past five years [134]. Environmental and Safety Management - The company has established a comprehensive safety and environmental management system, achieving zero major safety and environmental incidents in 2024 [60]. - The company strictly adheres to various environmental protection laws and regulations during its operations [183]. - The company has obtained pollution discharge permits and complies with discharge licensing systems [183]. - The company ensures that pollution control facilities operate stably and meet emission standards [183]. - Continuous investment in environmental protection has been made, with timely payment of environmental protection taxes as per regulations [192]. Governance and Compliance - The company maintained strict compliance with information disclosure regulations, ensuring transparency and timely communication with investors [144]. - The company has established a complete independent financial management system, with no shared bank accounts with controlling shareholders [146]. - The company possesses clear and independent ownership of all assets related to its operations, with no asset occupation by controlling shareholders [145]. - The company has a fully independent management structure, with no personnel decisions made outside the board of directors [146]. - The company has a dedicated investor relations strategy to enhance transparency and protect minority shareholders' rights [144]. Profit Distribution - The profit distribution plan proposes a cash dividend of 0.1 RMB per 10 shares, based on a total of 189,702,126 shares [10]. - The total amount of cash dividends distributed accounts for 0.68% of the total distributable profit [173]. - The company has not proposed any stock dividends or capital reserve transfers in the current profit distribution plan [176]. - The decision-making process for the profit distribution plan is complete and complies with the company's articles of association and shareholder meeting resolutions [173]. - The cash dividend distribution plan will be adjusted if there are changes in share capital due to stock incentives or convertible bonds before the implementation of the rights distribution [176].