Product Development and Innovation - The company has over 90 products listed in the National Essential Medicines List (2018 version) and more than 200 products included in the National Basic Medical Insurance, Work Injury Insurance, and Maternity Insurance Drug List (2021 version) [6] - The company is focusing on three innovative strategies: precision interventional diagnosis and treatment for cardiovascular diseases, interventional nuclear medicine and immunotherapy for tumors, and critical care and anti-infection [6] - In the precision interventional diagnosis and treatment sector, the company has ten products in reserve, with two vascular intervention products already approved for sale in China [7] - The company aims to achieve phased and tiered launches of innovative products in the coming years, driving significant growth in this sector [7] - The company is actively developing innovative products in the fields of respiratory and ENT, cardiovascular emergency, and has five products in late-stage clinical trials or already launched overseas [6] - The company is implementing a strategy of "high walls, deep digging, and accumulating grain" to expand and realize new growth points in technology innovation [6] - The company is positioned as a leading platform for precision interventional diagnosis and treatment in China and aims to become a global leader in the field of tumor diagnosis and critical care [6] - The company has established a comprehensive layout in the field of radionuclide-drug conjugates (RDC), with 16 innovative products covering 13 types of cancer, including liver cancer and colorectal cancer [8] - The flagship product, SIR-Spheres® Y-90 microsphere injection, has received approval from the National Medical Products Administration (NMPA) in China for treating unresectable colorectal cancer liver metastases after standard treatment failure [8] - The company aims to establish at least one Class A production platform and complete the pipeline layout of over 25 radionuclide therapeutic products within the next 1-2 years [8] - In the severe and anti-infection field, the company has four innovative drugs in the pipeline, including STC3141 and APAD for treating sepsis and ARDS, with six clinical approvals across five countries [9] - The mRNA vaccine R&D center established in partnership with eTheRNA Immunotherapies NV is now operational, equipped to meet clinical research requirements for therapeutic and preventive mRNA vaccines [9] - The company is focused on addressing unmet clinical needs in the oncology and immunotherapy sectors, enhancing its product pipeline and industry layout [8] - The company has a strong emphasis on innovation, with 43 ongoing innovative projects and a commitment to developing advanced medical devices and therapies [27] Financial Performance - The company's revenue for 2021 was HKD 8,597,975, an increase of 35.3% compared to HKD 6,352,919 in 2020 [49] - The profit before tax for 2021 was HKD 2,785,832, up 34.3% from HKD 2,073,583 in 2020 [49] - The net profit for 2021 reached HKD 2,405,032, representing a growth of 35% compared to HKD 1,781,209 in 2020 [49] - Total assets increased to HKD 21,057,030 in 2021, a rise of 24.4% from HKD 16,984,345 in 2020 [50] - Total liabilities rose to HKD 7,614,168 in 2021, up 35% from HKD 5,640,136 in 2020 [50] - The net assets for 2021 were HKD 13,442,862, an increase of 18.5% compared to HKD 11,344,209 in 2020 [50] - The pharmaceutical manufacturing industry in China saw a revenue growth rate of approximately 20.1% in 2021 [57] - The profit total for the pharmaceutical industry increased by about 77.9% in 2021 [57] - The company recorded revenue of approximately HKD 8,597,980,000 for the year ended December 31, 2021, representing a year-on-year increase of about 35.3% [60] - The gross profit margin for the year was approximately 61.0%, down from 63.5% in the previous year, a decrease of about 2.5 percentage points [60] - The profit attributable to the owners of the company for the year was approximately HKD 2,402,560,000, an increase of about 34.0% compared to the previous year [60] Market Expansion and Strategic Partnerships - The company has established stable long-term partnerships with numerous high-quality overseas clients, which supports its continuous stable development [6] - The company is committed to a dual system of local and global R&D and production, enhancing its R&D capabilities while accelerating product launches [7] - The company has expanded its global footprint, holding significant stakes in key joint ventures in Australia and the USA, and establishing strategic partnerships across North America, Europe, Oceania, and Asia [9] - The company has entered into a strategic collaboration with ITM to obtain exclusive development, production, and commercialization rights for three globally innovative RDC products in Greater China for a total of up to €520 million in licensing fees and milestone payments [33] - The company acquired approximately 17.8% equity in InnovHeart for about €43.8 million, gaining exclusive rights for the development, production, and commercialization of the Saturn device for mitral valve replacement in mainland China, Hong Kong, Macau, and Taiwan [33] - The company has secured long-term exclusive commercialization rights for Jext® pre-filled adrenaline auto-injectors in mainland China, Macau, and Taiwan for a total of €12 million in upfront and milestone payments [33] Research and Development - The company operates five technical R&D platforms and five R&D centers globally, with production bases in the USA, Canada, Germany, and Singapore [25] - The company has a pipeline of 106 projects in development, with 21 production approvals and 8 new drug applications submitted during the year [77] - The company is focusing on internationalization and innovation in key therapeutic areas, including cardiovascular, oncology, critical care, and respiratory medicine [77] - The company has launched 10 innovative products in the cardiovascular precision intervention field, covering six strategic markets including coronary intervention and peripheral vascular intervention [78] - The company is developing a new medical device, CoRISMA, for end-stage heart failure patients, utilizing advanced wireless power transmission technology [80] - The company has established four global R&D platforms and five R&D centers, enhancing its innovation capabilities [88] - The R&D team has grown by 22% year-on-year, totaling 643 personnel, with nearly 60% holding master's or doctoral degrees [89] Corporate Governance and Compliance - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced governance structure [136] - The company has established a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance performance [137] - The audit committee held two meetings during the year to review accounting principles and discuss financial reporting matters, ensuring compliance and integrity [140] - The remuneration committee reviewed the compensation policies for all directors and senior management, reflecting individual performance and responsibilities [143] - The nomination committee evaluated the board's structure and independence of non-executive directors, ensuring effective governance practices [144] - The company has established a compliance management team to oversee anti-corruption measures, especially in high-risk areas [182] - The company has implemented a mechanism for anonymous compliance reporting to detect and address misconduct [182] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating environmental, social, and governance (ESG) considerations into its operations and decision-making processes [158] - The group has established effective management policies and internal control systems regarding ESG matters during the reporting period [158] - The group emphasizes the integration of environmental, social, and governance (ESG) factors into daily operations, aiming for sustainable development and high product quality [159] - The group has not experienced any major environmental pollution incidents this year and has not been penalized by environmental authorities [162] - The group is committed to enhancing its environmental management system and has established a systematic inspection mechanism for environmental facilities, conducting checks every six months [163] - The group has implemented various methods for managing emissions, including tail gas absorption and dust filtration, to ensure compliance with pollution discharge standards [164] Employee and Community Engagement - The company employed approximately 10,029 staff as of December 31, 2021, an increase from about 8,722 staff as of December 31, 2020, reflecting a growth in human resources [129] - The average training hours for male and female employees were 86 hours and 79 hours respectively, with senior and middle management receiving an average of 73 hours and 95 hours of training [176] - The group donated approximately RMB 1 million worth of medical supplies to flood-affected areas in Henan in July 2021, and RMB 1.7 million worth of medicines to the Shaanxi Red Cross in June 2021 [178] - The group has established a comprehensive quality control system for drug production, with most products certified by GMP/GSP [180] - In 2021, the group received 236 customer complaints, with a 100% satisfaction rate for responses to these complaints [180]
远大医药(00512) - 2021 - 年度财报