TSZY(SZ:002872)2025-04-28 14:35Financial Performance - The company's operating revenue for 2024 was approximately ¥569.71 million, a decrease of 1.66% compared to ¥579.33 million in 2023[19]. - The net profit attributable to shareholders for 2024 was approximately -¥87.40 million, showing an improvement of 6.09% from -¥93.07 million in 2023[19]. - The cash flow from operating activities for 2024 was approximately ¥50.15 million, a significant increase of 304.17% compared to -¥24.56 million in 2023[19]. - The total assets at the end of 2024 were approximately ¥2.74 billion, a decrease of 2.66% from ¥2.81 billion at the end of 2023[19]. - The net assets attributable to shareholders at the end of 2024 were approximately ¥2.01 billion, down 4.10% from ¥2.09 billion at the end of 2023[19]. - The basic earnings per share for 2024 was -¥0.2749, an improvement of 6.08% from -¥0.2927 in 2023[19]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to approximately -¥109.53 million in 2024, a decline of 6.24% from -¥103.10 million in 2023[19]. - The weighted average return on net assets for 2024 was -4.27%, slightly improved from -4.36% in 2023[19]. Revenue Breakdown - The company's total revenue for Q1 was approximately 148 million, Q2 was about 133 million, Q3 was around 121 million, and Q4 reached approximately 167 million[23]. - The revenue from self-manufactured oral solid preparations increased by 11.49% to ¥256,633,167.71, accounting for 45.05% of total revenue[61]. - The revenue from self-manufactured small volume injections decreased by 24.40% to ¥143,397,102.67, accounting for 25.17% of total revenue[61]. Cash Flow and Investments - Net cash flow from operating activities improved significantly to ¥50,146,536.51 in 2024, compared to a negative cash flow of ¥24,561,754.07 in 2023, an increase of 304.17%[77]. - Cash flow from investing activities showed a net inflow of ¥5,568,663.15 in 2024, a turnaround from a net outflow of ¥82,080,011.17 in 2023, an increase of 106.78%[77]. - Cash flow from financing activities increased significantly to ¥50,557,204.74 in 2024, compared to a negative cash flow of ¥11,203,509.75 in 2023, an increase of 551.26%[77]. - Total cash and cash equivalents increased by ¥106,272,404.40 in 2024, reversing a decrease of ¥117,845,274.99 in 2023, a change of 190.18%[77]. Research and Development - The company has established a specialized research platform for improved new drug development, enhancing its capabilities in traditional Chinese medicine and chemical drugs[38]. - The research and development model includes both independent and collaborative approaches, with partnerships established with several universities and research institutions[38]. - The company is currently developing several new products, including sodium bicarbonate injection and vitamin B6 injection, aimed at expanding its product line[74]. - R&D investment decreased to ¥22,752,050.49 in 2024 from ¥30,916,051.19 in 2023, a decline of 26.41%[75]. - R&D expenditure as a percentage of operating revenue fell to 3.99% in 2024 from 5.34% in 2023, a decrease of 1.35%[75]. Production and Quality Control - The company emphasizes quality control in production, adhering to national drug management laws and regulations[41]. - The company has implemented a comprehensive quality management system, ensuring all materials undergo strict quality inspections before production[43]. - The company has a strong focus on quality management, with Mr. Jiang Changhong serving as the Quality Management Department Head[141]. - The company has established a robust management team with a mix of academic and practical experience in the pharmaceutical industry[139]. Market and Strategic Initiatives - The company is focused on modernizing its pharmaceutical operations, integrating drug research, production, and sales[33]. - The company plans to enhance its marketing efforts and develop the "Tian Sheng Cloud" APP for internet pharmaceutical sales[57]. - The company is actively pursuing market expansion strategies to enhance its competitive position in the pharmaceutical industry[101]. - The company plans to launch its own internet pharmaceutical sales platform by 2025, leveraging AI tools to enhance sales and brand influence[45]. Governance and Compliance - The company maintained strict compliance with relevant laws and regulations, ensuring effective corporate governance and protecting investor interests[126]. - The company has established a market value management system and approved a valuation enhancement plan to improve its market standing[123]. - The company has a dedicated financial department that operates independently, ensuring sound financial management and decision-making[131]. - The company has established a robust internal audit system to enhance risk control and internal supervision[129]. Environmental Responsibility - The company has invested a total of 1.9336 million yuan in environmental protection during the reporting period, including 0.4992 million yuan for operation and maintenance of environmental facilities and 1.3353 million yuan for upgrading the wastewater treatment station[176]. - The company has implemented the "Three Simultaneities" principle for all construction projects, ensuring compliance with environmental impact assessments[168]. - The company has established an emergency response plan for environmental incidents, which has been reviewed by experts and aims to minimize environmental risks from accidents[175]. - The company has successfully managed its wastewater discharge, with all monitored pollutants reported as not exceeding the standards[170]. Social Responsibility - The company emphasizes its commitment to social responsibility, focusing on economic benefits while protecting the rights of stakeholders and participating in public welfare[178]. - The company provides monthly financial assistance of 1,000 yuan to a sick child in Chongqing, reducing the family's burden until the child graduates from university[182]. - The company has established a strategic partnership with local communities to promote rural revitalization through the development of traditional Chinese medicine resources[183]. Risk Management - The company recognizes R&D risks, including potential misalignment with market needs and regulatory challenges, and is focused on optimizing its R&D processes[117]. - The pharmaceutical industry faces significant policy risks, including stricter regulations and cost control measures, which could impact future development[115]. - The company is addressing drug price risks due to policy-driven price reductions and market competition by enhancing cost control and marketing strategies[119]. Shareholder Engagement - The company emphasizes the protection of shareholder rights, ensuring equal treatment for all shareholders, especially minority shareholders, during significant decision-making processes[179]. - The company actively engages with investors through various channels, including an investor hotline and performance briefings, to ensure transparent communication[179]. - The company held its annual general meeting on May 16, 2024, with a participation rate of 6.45% from investors[133].