NKF(SH:603707)2025-04-28 14:45Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest fiscal year[18]. - The company's operating revenue for 2024 was CNY 3,923,585,843.53, a slight decrease of 0.20% compared to CNY 3,931,387,279.72 in 2023[25]. - Net profit attributable to shareholders for 2024 reached CNY 826,144,870.17, a significant increase of 536.09% from a loss of CNY 189,445,790.76 in 2023[25]. - The basic earnings per share for 2024 was CNY 0.51, up 525.00% from a loss of CNY 0.12 in 2023[26]. - The weighted average return on equity increased to 13.47% in 2024, up 16.64 percentage points from -3.17% in 2023[26]. - The company achieved total revenue of 392,358.58 million RMB, a decrease of 0.20% compared to the previous year[84]. - The company's net profit attributable to shareholders increased by 536.09% to 82,614.49 million RMB[84]. - The gross profit margin for the standard heparin raw material was 30.29%, for formulations was 46.04%, and for CDMO and other products was 65.88%, with the overall gross profit margin at 43.28%[89]. Research and Development - The company has invested in new technology development, allocating 10 million yuan for R&D in the upcoming fiscal year[18]. - Research and development (R&D) investment reached RMB 53,239.37 million, representing 13.57% of total revenue, aimed at accelerating the commercialization of the R&D pipeline[36]. - The total R&D investment amounted to CNY 532,393,654.69, representing 13.57% of the operating revenue, with 38.03% of the R&D costs capitalized[99]. - The company has over 500 R&D personnel, including more than 100 with master's or doctoral degrees, enhancing its research capabilities[73]. - The company has a strong pipeline of products under regulatory review, with multiple oncology drugs currently in the documentation review phase in both China and the U.S.[125]. Market Expansion and Strategy - The company has outlined a strategic plan for market expansion, targeting a 20% increase in market share over the next two years[18]. - The company is focusing on expanding its product line, particularly in the biopharmaceutical sector, with new product launches expected in the next quarter[18]. - The company aims to enhance its market access capabilities and commercial team construction in North America, Europe, and South America, achieving significant progress[43]. - The company is expanding its product registration and sales efforts in over 20 countries, successfully entering 9 new markets during the reporting period[42]. - The company aims to provide differentiated CDMO services in the global market, enhancing its reputation and service revenue through compliance with international regulations[62]. Compliance and Governance - The company has received a standard unqualified audit report from Tianye Certified Public Accountants[8]. - The company is committed to maintaining compliance with regulatory standards, including those set by the FDA and other international bodies[18]. - The company’s board of directors and senior management have confirmed the accuracy and completeness of the financial report[6]. - The company has not faced any penalties from securities regulatory agencies in the past three years[179]. - The decision-making procedures and mechanisms regarding dividends are complete and transparent[195]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares (including tax) to all shareholders, pending approval at the 2024 annual general meeting[9]. - The company declared a cash dividend of 16,156.35 million RMB, which represents 19.56% of the net profit attributable to ordinary shareholders in the consolidated financial statements[197]. - The company has a clear and defined dividend policy that aligns with its articles of association and shareholder resolutions[195]. - The company plans to maintain a cash dividend distribution of at least 10% of the distributable profit when conditions are met[192]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) was 50,904.16 million RMB, with an average annual net profit of 57,584.41 million RMB, resulting in a cash dividend ratio of 88.40%[200]. Risk Management - The company has detailed potential risks in its future development plans, emphasizing the importance of risk management[11]. - The fluctuation in raw material prices, particularly for heparin crude products, poses a significant risk to production costs and overall financial performance[161]. - The company has developed a comprehensive response plan to enhance the likelihood of winning bids in national procurement and is actively expanding global sales channels to increase overall sales[163]. - The company has implemented a comprehensive risk management system to maintain product quality and stability, adhering to FDA audit standards[161]. Product Development and Approvals - The company received approvals for 14 generic drugs from the National Medical Products Administration of China and the FDA, expanding its injection product sales pipeline[36]. - The company completed the acquisition of Coherus BioSciences' Yusimry for USD 40 million, becoming the first Chinese company to receive full FDA approval for an adalimumab biosimilar[40]. - The company has established a complete technical system for biopharmaceuticals, with its production bases certified by the FDA, ensuring industry-leading quality control[38]. - The company is actively pursuing regulatory approvals to enhance its competitive edge in the pharmaceutical market[57][58][59]. - The company has received approvals for several products, including fluorouracil injection and voriconazole injection, with approval dates ranging from January to November 2024[126][127]. Human Resources and Management - The company has a total of 1,360 employees, with 736 in the parent company and 624 in major subsidiaries[188]. - The company has established a performance evaluation management system linked to employee responsibilities and skills, promoting various incentive measures[189]. - The company has implemented measures to significantly improve operational efficiency by shortening sales cycles, thereby reducing the impact of exchange rate fluctuations on business operations[163]. - The company is enhancing its talent development initiatives to support sustainable growth and improve operational efficiency[158]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 4.413 million yuan[177].