FUDAN FORWARD(600624)2025-04-29 16:25Financial Performance - The net profit attributable to shareholders for 2024 is a loss of RMB -133,209,876.48, with retained earnings at RMB -210,842,769.27 as of December 31, 2024[3]. - The basic earnings per share for 2024 is -0.195, a significant decrease from -0.032 in 2023[18]. - The operating revenue for 2024 is RMB 645,322,768.13, down 5.05% from RMB 679,678,938.29 in 2023[20]. - The net cash flow from operating activities for 2024 is RMB -14,439,859.13, a decline of 305.29% compared to RMB 7,033,862.40 in 2023[20]. - The total assets decreased by 19.52% to RMB 1,424,140,492.46 in 2024 from RMB 1,769,467,818.60 in 2023[20]. - The weighted average return on equity for 2024 is -18.84%, compared to -2.77% in 2023[18]. - The company plans no profit distribution or capital reserve transfer due to the loss in 2024[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is RMB -136,972,864.12, compared to RMB -50,129,141.81 in 2023[20]. - The company reported a significant impairment provision for inventory by its subsidiary, which contributed to the loss[19]. - The company’s net assets attributable to shareholders decreased by 17.96% to RMB 637,446,077.87 as of the end of 2024[20]. Revenue Breakdown - In 2024, the company's operating revenue was CNY 645.32 million, a decrease of 5.05% compared to the previous year[30]. - The pharmaceutical segment generated revenue of CNY 302.37 million, down 11.71% year-on-year, accounting for 46.86% of total revenue[30]. - The net profit from the pharmaceutical segment was CNY -20.53 million, a decrease of CNY 20.54 million compared to the previous year[30]. - Shanghai Zhonghe Software's revenue for 2024 reached CNY 276.70 million, a year-on-year increase of 2.21%, accounting for 42.88% of the company's total revenue; net profit attributable to shareholders decreased by 2.52% to CNY 5.59 million[33]. - The park segment's total revenue for 2024 was CNY 41.88 million, a year-on-year increase of 4.38%, but net profit attributable to shareholders was -CNY 107.27 million, a decrease of CNY 108.41 million compared to the previous year[35]. Market Challenges - The company faced significant challenges due to policy changes in the pharmaceutical industry, including the normalization of centralized procurement and adjustments to the medical insurance drug list[31]. - The average price reduction for the tenth batch of national organized drug procurement reached approximately 70%, with the highest reduction at 96%[96]. - The national drug procurement policy has been institutionalized, focusing on reducing drug prices while ensuring supply and quality[105]. - The pharmaceutical sector faces risks from policy changes, price reductions, and rising production costs, necessitating strategic adjustments[164]. Research and Development - The company has initiated two new product projects and is increasing R&D investment to enhance product development[31]. - The company is focusing on specialized drugs in areas such as digestive, neurological, anti-tumor, and circulatory system treatments[48]. - The company is committed to improving its quality management system in compliance with the Drug Administration Law[31]. - The company’s R&D investment amounted to 2,666.49 million RMB, representing 6.84% of its operating revenue and 5.52% of its net assets[124]. - The company has increased its R&D focus on generic drug quality and efficacy consistency evaluations, particularly in the field of neurological medications[124]. Strategic Initiatives - The company is focusing on expanding its market presence in pharmaceuticals, software, and park operations while enhancing core business capabilities[30]. - The company is actively researching and planning the layout and expansion of park business in Fengxian, integrating its pharmaceutical and software operations[36]. - The company is exploring strategic collaborations and acquisitions to support its growth and market expansion initiatives[108]. - The company plans to enhance its technological capabilities and expand its market presence in the industrial internet sector[56]. Governance and Compliance - The company maintains independence from its controlling shareholder, ensuring no interference in operational decisions[173]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting to all shareholders[175]. - The company has established a robust internal control system to enhance management and risk prevention capabilities[174]. - The board of directors consists of nine members, including three independent directors, meeting legal requirements and ensuring effective governance through various committees[172]. Employee and Management - The company employs a total of 1,414 staff members, with 60 in the parent company and 1,354 in major subsidiaries[197]. - The technical personnel comprised 936 employees, representing approximately 66% of the total workforce[197]. - The company has implemented a compensation policy linking employee income to individual performance and company growth[198]. - The remuneration for senior management is linked to the company's performance evaluation[188]. Future Outlook - The company projects a total revenue of 720 million yuan and operating costs of 430 million yuan for 2025, with expenses estimated at 290 million yuan[158]. - The company aims to strengthen its financial performance and operational efficiency in the next fiscal year[182]. - The company is committed to increasing R&D investment and enhancing production efficiency to maintain competitiveness in the pharmaceutical market[160]. - The company is actively involved in research and development of new technologies to drive future growth[182].