THDB(SH:600867)2025-04-29 12:38Financial Performance - The net profit attributable to the parent company for 2024 is -42,723,162.30 CNY, with undistributed profits at 3,432,915,917.08 CNY[6]. - The company's operating revenue for 2024 was CNY 2,009,514,604.92, a decrease of 34.66% compared to CNY 3,075,416,029.21 in 2023[22]. - The net profit attributable to shareholders for 2024 was CNY -42,723,162.30, representing a decline of 103.66% from CNY 1,167,835,317.79 in 2023[22]. - The cash flow from operating activities for 2024 was CNY 459,740,577.53, down 46.64% from CNY 861,521,518.57 in 2023[22]. - Basic earnings per share for 2024 were CNY -0.02, a decrease of 103.39% compared to CNY 0.59 in 2023[23]. - The weighted average return on equity for 2024 was -0.63%, a decrease of 17.72 percentage points from 17.09% in 2023[25]. - The total profit for the company was -143.75 million RMB, representing a decline of 110.52% year-on-year[36]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -9.20 million RMB, a decrease of 100.79% year-on-year[36]. Dividend and Share Repurchase - The proposed cash dividend is 2.50 CNY per 10 shares, totaling 485,866,253.00 CNY (including tax), which represents 1,137.24% of the net profit[7]. - The total amount for cash dividends and share repurchases is 785,906,830.94 CNY, accounting for 1,839.53% of the net profit[7]. - The company has repurchased 15,077,817 shares, with a total repurchase amount of 300,040,577.94 CNY during the year[7]. - The company plans to maintain the per-share distribution ratio unchanged, with adjustments to the total distribution amount if the total share capital changes before the dividend record date[7]. - The company does not plan to issue new shares or convert reserves into share capital this year[7]. Risks and Challenges - There are no significant risks that materially affect the company's operations during the reporting period[9]. - The company’s future plans and development strategies are subject to investment risks and do not constitute a commitment to investors[8]. - The net profit decline was primarily attributed to decreased operating revenue and losses from terminated R&D projects[26]. - The company recognized a loss of CNY 253,523,550.00 related to a prepayment for commercialization rights, impacting the second quarter's net profit[28]. Market and Product Development - The company is focusing on expanding its overseas market and enhancing innovative drug research and development as part of its long-term strategy[35]. - The company achieved a significant breakthrough in hospital access, with approximately 1,400 new hospitals for glargine insulin and 5,000 new hospitals for premixed aspart insulin[40]. - The company is enhancing its diabetes management platform and POCT projects, aiming for comprehensive blood glucose management from admission to discharge[42]. - The company is actively promoting its products through various academic activities to improve brand awareness and market penetration[42]. - The company is focusing on developing products in the endocrine and metabolic treatment fields, including insulin analogs and oral hypoglycemic agents[105]. Research and Development - The company is expanding its research and development in the endocrine metabolism field, with ongoing projects including three new diabetes treatments and two new gout/hyperuricemia treatments[43]. - The company received clinical trial approval for its dual-target GLP-1/GIP agonist, with successful completion of phase Ia trials and ongoing phase Ib trials for both glycemic control and weight loss indications[45]. - The company is developing multiple new drugs targeting diabetes and gout, with several in various clinical trial phases[126]. - The company reported a research and development investment of 450.46 million RMB, representing a 7.15% increase compared to the previous year[132]. - The R&D investment accounted for 22.42% of the company's operating revenue and 7.04% of net assets during the reporting period[131]. Corporate Governance - The company held 1 annual general meeting and 4 temporary general meetings during the reporting period, ensuring compliance with legal requirements[166]. - The board of directors consists of 9 members, including 3 independent directors, and held 11 meetings during the reporting period[167]. - The company completed 4 periodic reports and 111 temporary announcements, ensuring timely and accurate information disclosure to investors[168]. - The company is enhancing its internal control systems to improve risk management and operational standards[168]. - The company confirmed that there are no significant accounting errors or fraud related to financial reports, maintaining compliance with relevant laws and regulations[193]. Strategic Partnerships and Market Position - The company has established a strategic partnership with Jianyou Co. to enter the U.S. insulin market, with production facilities meeting EU GMP standards[54]. - The company maintains a leading position in the diabetes treatment market, with over 40% market share in human insulin, solidifying its industry leadership[70]. - The company is recognized as a high-tech enterprise and has received multiple certifications, including GMP, enhancing its credibility in the pharmaceutical industry[71]. - The company is advancing its internationalization strategy, focusing on the registration of insulin and GLP-1RA products in overseas markets, while seeking partnerships with large foreign pharmaceutical companies[159]. Employee and Management Changes - The total number of employees in the parent company is 3,349, with 1,396 in sales, 1,050 in production, and 690 in technical roles[199]. - The company has a structured compensation committee that ensures compliance with relevant laws and regulations regarding remuneration[185]. - The company’s management has been actively involved in various other enterprises, indicating a broad network and potential for strategic partnerships[182]. - The company’s management team includes experienced professionals with backgrounds in various fields, enhancing its operational capabilities[176]. - Du Zhiqiang resigned as Vice General Manager due to personal reasons, effective March 31, 2025[180].