Chimin(SH:603222)2025-04-28 11:05Financial Performance - The net profit attributable to shareholders for 2024 was -59,711,716.50 RMB, indicating a loss compared to the previous year[6]. - The parent company achieved a net profit of 4,749,245.32 RMB for 2024, with distributable profits at 24,213,163.03 RMB[6]. - The board proposed no cash dividends, no bonus shares, and no capital increase due to the negative net profit for the year[6]. - The total distributable profits for the consolidated financial statements at the end of 2024 were 319,475,792.10 RMB[6]. - The company's total revenue for the reporting period was CNY 775.73 million, a decrease of 13.28% compared to the same period last year[24]. - The net profit attributable to shareholders was CNY -59.71 million, while the net profit after deducting non-recurring gains and losses was CNY -58.69 million, indicating continued losses[24]. - Cash flow from operating activities was CNY 72.99 million, down 47.94% year-on-year, but still maintained at a relatively good level[32]. - The total assets at the end of the reporting period were CNY 2.41 billion, a decrease of 2.64% compared to the previous year[24]. - The net assets attributable to shareholders decreased by 6.04% to CNY 1.48 billion compared to the previous year[24]. - The company recorded a weighted average return on equity of -3.92%, slightly improved from -3.96% in the previous year[25]. Revenue Segments - The medical services segment generated revenue of CNY 32.14 million, a decline of 9.67% year-on-year, while the medical device segment saw a significant drop of 31.52% to CNY 17.08 million[32]. - The large infusion segment achieved revenue of CNY 276.82 million, remaining stable compared to the previous year, with 3000ml sodium chloride injection contributing CNY 96.17 million, accounting for 34.74% of the infusion segment's revenue[36]. - The Boao International Hospital reported revenue of CNY 16.92 million, with a net profit of CNY 740.16 thousand, both showing a decline year-on-year[34]. - Domestic revenue fell by 17.77% to CNY 625.82 million, while international revenue increased by 9.97% to CNY 143.17 million[69]. Research and Development - The company increased its R&D investment, which contributed to the losses in the medical device and service segments[25]. - Research and development expenses amounted to CNY 41.61 million, representing a significant increase of 43.97% year-on-year, with several innovative drug projects in various stages of development[37]. - The company has developed four core technology platforms in regenerative medicine, including cell storage and clinical research[1]. - The company’s R&D investment as a percentage of net assets is 2.81%[101]. - The company’s R&D investment capitalized ratio is 0.00%, indicating all R&D expenses were expensed in the current period[103]. Corporate Governance and Compliance - The company has a comprehensive governance structure, including a clear division of responsibilities among the board, supervisory committee, and management, ensuring effective oversight and compliance with regulations[123]. - The company has established an independent financial accounting department and adheres to strict financial management protocols to maintain operational independence from controlling shareholders[125]. - The company has implemented measures to strengthen internal controls and enhance supervision to identify and rectify internal control deficiencies[181]. - The company has strengthened employee legal education and compliance training to enhance operational standards and compliance awareness[181]. Market and Industry Outlook - The pharmaceutical industry is expected to face challenges in 2024, with overall revenue stabilizing but profit margins declining compared to the previous year[47]. - The healthcare sector in China saw a total of 1,070,785 medical institutions by the end of 2023, with total health expenditure estimated at CNY 9.06 trillion, an increase of CNY 524.83 billion from 2022[45]. - The medical consumables market in China is projected to reach CNY 200 billion in 2024, with high-value medical consumables accounting for CNY 172.4 billion[46]. Environmental and Social Responsibility - The company has a wastewater treatment facility with a capacity of 80 tons/day and a new facility for needle workshop wastewater treatment with a capacity of 5 tons/day, all operating normally[167]. - The company has implemented a self-monitoring plan for wastewater, including online monitoring every two hours and quarterly sampling for various pollutants[171]. - The company reported a total wastewater discharge of 30.65 tons/year with an average concentration of 165 mg/L for COD[165]. - The company has committed to avoiding any business activities that may compete with its main operations, ensuring compliance with its commitments[177]. - The company made a total donation of 50,000 RMB towards public welfare projects during the reporting period[175]. Shareholder and Capital Management - The company repurchased a total of 12,146,800 shares, accounting for 2.26% of the total share capital, with a total payment of CNY 91.53 million during the first repurchase phase[39]. - Key personnel, including directors and senior management, collectively increased their holdings by 8,838,580 shares, representing 1.65% of the total share capital, with a total investment of CNY 57.10 million[40]. - The company plans to initiate a second share repurchase program with a budget of CNY 100 million to CNY 200 million, with a maximum repurchase price of CNY 10.00 per share[41]. - The company plans to terminate the 2023 stock option incentive plan and cancel the stock options[127]. Legal and Regulatory Matters - The company has a pending lawsuit against Shao Pin for a breach of a share repurchase agreement, with a court ruling requiring Shao Pin to pay 105,762,000 RMB plus overdue interest[184]. - The company has received partial compensation of 285,943.55 RMB from the enforcement of the court ruling against Shao Pin[184]. - The company is actively cooperating with law enforcement regarding the case of "He Qinghong and others forging company seals" to recover losses[180]. - The company has reported a provision for potential losses of 28.3171 million RMB related to a case of forgery involving company seals[179]. Employee Management - The total number of employees in the parent company and major subsidiaries is 1,994, with 677 in the parent company and 1,317 in subsidiaries[147]. - The company has established a comprehensive salary system to ensure fair compensation for employees, promoting continuous business development[149]. - The company has implemented a training program aimed at enhancing the skills and management capabilities of its employees[150]. Investment and Financial Management - The company has entrusted cash asset management with a total of 40,000.00 million RMB in bank wealth management products, with no overdue amounts[194]. - The annualized return rate for bank wealth management products is between 1.50% and 2.60%[196]. - The company has allocated 19,528.15 million RMB for investments in the current year[199]. - The cumulative investment from fundraising as of the reporting period is 48,905.70 million RMB, representing 101.72% of the total fundraising amount[199].