Financial Performance - In 2021, Fusen Pharmaceutical reported revenue of RMB 385.664 million, a decrease of 20.8% from RMB 486.854 million in 2020[8] - The gross profit for 2021 was RMB 211.133 million, down 20.6% from RMB 266.067 million in 2020[8] - Operating profit decreased to RMB 52.137 million in 2021, compared to RMB 61.883 million in 2020, reflecting a decline of 15.5%[8] - The company reported a net profit of RMB 16.613 million for 2021, a significant drop of 73.5% from RMB 62.668 million in 2020[8] - The company's total revenue and gross profit were approximately RMB 385.7 million and RMB 211.1 million, representing a decrease of about 20.8% and 20.7% compared to 2020[22] - The company's operating profit for 2021 was approximately RMB 52.1 million, a decline of about RMB 9.8 million or 15.8% from 2020, primarily due to decreased operating income[22] - The total comprehensive income for the year decreased by approximately RMB 45.2 million or 74.6% from RMB 60.6 million for the year ended December 31, 2020, to RMB 15.4 million for the year ended December 31, 2021[39] - The net current assets as of December 31, 2021, were approximately RMB 20.0 million, down from RMB 112.8 million in 2020[40] - The total debt as of December 31, 2021, was approximately RMB 236.9 million, an increase from RMB 198.5 million in 2020, resulting in a debt-to-equity ratio of 36.1% compared to 30.2% in 2020[41] - The group's share of profit from a joint venture decreased from approximately RMB 24.2 million in 2020 to RMB 11.7 million in 2021, a reduction of approximately RMB 12.5 million[35] Production and Development - Fusen Pharmaceutical completed the construction of a new production facility in November 2021, which is expected to enhance production capacity and product quality[12] - The company has initiated research on new products, including the formulation studies for Buwaisitang and the consistency evaluation for two other products[13] - The company has initiated the production of new products, including Nicardipine Injection, which won a procurement bid in 14 provinces in December 2021[23] - The company established a new R&D center, Jiaheng (Zhuhai Hengqin) Pharmaceutical Technology Co., Ltd., to enhance its research capabilities in traditional Chinese and chemical medicines[24] - The company completed the relocation and expansion of its production facilities, significantly improving production processes and management levels[170] Social Responsibility and Community Engagement - The company donated RMB 3 million to the Henan Red Cross for flood relief efforts, demonstrating its commitment to social responsibility[12] - The company donated RMB 3.0 million to the Henan Red Cross for disaster relief during severe flooding and COVID-19 outbreaks in the region[17] - The company emphasizes a commitment to social responsibility and sustainable practices as part of its corporate culture and operational strategy[171] - The company actively engages with stakeholders, including employees, consumers, suppliers, and the community, to gather feedback on ESG issues[160] Environmental Management - The total wastewater discharge in 2021 was 76,892.301 tons, significantly reduced from 137,894.41 tons in 2020, representing a decrease of approximately 44%[183] - The COD discharge in 2021 was 1.158 tons, down from 4.341 tons in 2020, indicating a reduction of about 73%[183] - The total air emissions in 2021 were 19,369,680 cubic meters, a substantial decrease from 50,839,200 cubic meters in 2020, reflecting a reduction of approximately 62%[189] - Nitrogen oxide emissions in 2021 were 0.729 tons, down from 1.467 tons in 2020, showing a reduction of about 50%[189] - The company has implemented a three-tier environmental management network to ensure compliance with environmental regulations and effective pollution control measures[175] - The company has installed pollution control devices at various emission points to meet air quality standards, ensuring no negative impact on surrounding communities[186] - The company has proposed 31 improvement plans to enhance clean production levels, following a comprehensive audit of its production processes[180] - The company aims to prepare for ISO 14000 environmental management system certification to further improve its environmental management framework[180] Governance and Compliance - The management team emphasized the importance of maintaining compliance and governance standards in all operations[80] - The company has fully complied with the corporate governance code since its listing on July 11, 2018, except for the provisions of C.6.1[83] - The board consists of a balanced mix of executive and independent non-executive directors, with independent directors making up one-third of the board[91] - The company has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific aspects of the company's affairs[102] - The Audit Committee reviewed the consolidated financial statements for the year ended December 31, 2021, and found them to comply with applicable accounting standards and listing rules[104] - The company emphasizes ongoing professional development for all directors to ensure they are updated on current regulations and company performance[98] - The company encourages open debate and contributions from all directors to foster effective governance and constructive relationships[102] Future Outlook and Strategic Initiatives - The company expects sales of its core product, Cefepime, to rebound starting in Q2 2022 as the annual procurement quota is executed[17] - The company has outlined a future outlook with a projected revenue growth of 20% for the next fiscal year[82] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[82] - A strategic acquisition is being considered to enhance the company's technological capabilities and market reach[82] - The company has allocated HKD 100 million for research and development in the upcoming fiscal year[82] Operational Efficiency - The financial team reported a reduction in operational costs by 10% through efficiency improvements[78] - Sales and distribution expenses decreased by approximately RMB 16.5 million or 15.4% from RMB 107.4 million for the year ended December 31, 2020, to RMB 90.9 million for the year ended December 31, 2021, mainly due to cost control measures[32] - The company has implemented a three-tier energy management system to enhance energy efficiency and reduce consumption[196] - The company actively adopts new energy-saving technologies and processes to improve overall operational efficiency[196]
福森药业(01652) - 2021 - 年度财报