JSSH(SZ:000518)2025-04-28 18:00Financial Performance - The company's operating revenue for 2024 was ¥203,517,230.21, a decrease of 13.55% compared to ¥235,419,049.03 in 2023[19]. - The net profit attributable to shareholders for 2024 was -¥109,993,675.02, representing a decline of 46.13% from -¥75,269,896.35 in 2023[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥80,946,435.16, an increase of 8.63% in losses compared to -¥74,515,183.75 in 2023[19]. - The net cash flow from operating activities for 2024 was ¥1,461,349.15, down 10.33% from ¥1,629,635.79 in 2023[19]. - The total assets at the end of 2024 were ¥567,402,831.84, a decrease of 14.16% from ¥660,975,034.49 at the end of 2023[19]. - The net assets attributable to shareholders at the end of 2024 were ¥371,713,279.67, down 22.83% from ¥481,706,954.69 at the end of 2023[19]. - The basic earnings per share for 2024 was -¥0.1068, a decline of 46.10% compared to -¥0.0731 in 2023[19]. - The weighted average return on net assets for 2024 was -25.72%, a decrease of 11.23% from -14.49% in 2023[19]. Revenue and Sales - In Q1 2023, the company reported a revenue of ¥56,398,850.85, which decreased to ¥47,522,889.20 in Q4 2023, reflecting a decline of approximately 16% over the year[24]. - The pharmaceutical segment revenue was ¥198,097,259.95, accounting for 97.34% of total revenue, with a year-on-year increase of 1.36%[43]. - EPO product revenue decreased by 3.94% to ¥92,639,064.94, representing 45.52% of total revenue[43]. - G-CSF product revenue increased by 4.33% to ¥51,289,891.19, accounting for 25.21% of total revenue[43]. - Domestic sales contributed ¥198,736,879.06, which is 97.65% of total revenue, showing a slight decrease of 0.46% year-on-year[43]. Costs and Expenses - The company's operating costs for 2024 were CNY 75.95 million, an increase of 6.69% year-on-year[179]. - Sales expenses accounted for 33.27% of total revenue, while management expenses represented 31.90% of total revenue[179]. - Total operating costs for 2024 were CNY 241.08 million, down 16.2% from CNY 287.69 million in 2023[196]. - Total sales expenses decreased by 41.92% to ¥67,700,635.55, reflecting improved cost control measures[52]. - R&D expenses remained stable at ¥29,008,565.70, a slight decrease of 0.49% compared to the previous year[52]. Cash Flow - The net cash flow from investment activities improved significantly to ¥2,630,074.50 in 2024 from a negative ¥8,494,190.00 in 2023[58]. - The net cash flow from financing activities worsened to -¥11,326,754.78 in 2024 from -¥5,610,946.89 in 2023, reflecting a 101.87% increase in cash outflow[58]. - The net increase in cash and cash equivalents was -¥7,219,395.91 in 2024, a 42.09% improvement from -¥12,466,832.82 in 2023[58]. - Significant differences between net cash flow from operating activities and net profit were primarily due to asset impairment losses of ¥47,660,794.09 and extraordinary expenses of ¥34,896,874.08[59]. Assets and Liabilities - As of the end of 2024, cash and cash equivalents decreased to ¥8,012,633.33, representing 1.41% of total assets, down from 2.86% at the beginning of 2024, a decrease of 1.45%[61]. - Accounts receivable increased to ¥66,065,029.1, accounting for 11.64% of total assets, up from 10.56%, an increase of 1.08%[61]. - Inventory accounted for 63.43% of total assets at ¥359,876,908, an increase from 61.81% at the beginning of 2024, reflecting a 1.62% rise[61]. - Total liabilities increased from CNY 148,194,542.06 to CNY 168,429,253.44, an increase of about 13.6%[191]. - The company's total equity decreased from CNY 512,780,492.43 to CNY 398,973,578.40, a decline of approximately 22.2%[191]. Research and Development - The company has 12 invention patents and 4 new drug certificates, indicating a strong focus on R&D[40]. - The number of R&D personnel increased to 37 in 2024, representing a growth of 5.71% compared to 35 in 2023, with the proportion of R&D personnel in the company rising to 16.52%[55]. - R&D investment amounted to ¥29,008,565.70 in 2024, a slight decrease of 0.49% from ¥29,150,204.80 in 2023, while the proportion of R&D investment to operating revenue increased to 14.25% from 12.38%[55]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations, and maintaining independence from its controlling shareholder[77]. - The board of directors consists of five members, including three independent directors, ensuring compliance with legal requirements and effective oversight[78]. - The company has implemented a comprehensive investor relations management strategy, maintaining good communication with investors through various platforms[79]. - The internal control system has been established and effectively implemented, with no significant deficiencies reported during the period[109]. - The company has maintained compliance with regulatory requirements and actively engaged in corporate governance[100]. Environmental Compliance - The company adheres strictly to multiple environmental protection laws and regulations, including the Environmental Protection Law of the People's Republic of China[115]. - Continuous monitoring of wastewater and air emissions is conducted by a third-party agency to ensure compliance with environmental standards[115]. - The company reported no exceedances in pollutant emissions across various categories, including volatile organic compounds and particulate matter[116]. - The company is committed to improving its wastewater treatment processes to align with national standards and reduce environmental impact[118]. Shareholder and Management Changes - The company has experienced changes in its management team, with multiple resignations occurring in 2024[91]. - The company is led by experienced professionals, including the chairman and general manager Guo Yu, who has a background in ecology and management[88]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 2.0686 million yuan[95]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[121]. Legal and Regulatory Issues - The company faces a delisting risk warning if the audited net profit for 2024 is negative and revenue is below 300 million RMB[132]. - The company is involved in a securities false statement liability dispute with a claim amount of 31.87 million RMB, which has reached a mediation agreement[134]. - There are ongoing lawsuits with amounts totaling 27.80 million RMB and 45.91 million RMB, both of which have no significant impact on the company[135].