Financial Performance - In 2021, the group's revenue increased significantly from RMB 697.0 million to RMB 2,104.1 million, representing a growth of approximately 201.9% year-on-year[6]. - Revenue for the year ended December 31 reached RMB 2,104.1 million, an increase of 201.9% compared to RMB 696.0 million in the same period of 2020[12]. - Gross profit for the same period was approximately RMB 651.0 million, up 113.5% from RMB 304.9 million in 2020[12]. - Net profit for the year was approximately RMB 300.6 million, a turnaround from a net loss of RMB 378.9 million in 2020[12]. - Adjusted net profit under non-IFRS was approximately RMB 352.5 million, an increase of 39.7% compared to RMB 252.3 million in 2020[12]. - The total number of customers served by the group increased to 1,820, with total revenue rising from RMB 697.0 million to RMB 2,104.1 million, representing a year-on-year growth of approximately 201.9%[18]. - Gross profit increased from RMB 304.9 million to RMB 651.0 million, reflecting a year-on-year growth of approximately 113.5%[18]. - Adjusted net profit rose from RMB 252.3 million to RMB 352.5 million, marking a year-on-year increase of 39.7%, primarily driven by the rapid growth of the CRO business and the revenue increase from the acquisition of Zhejiang Langhua Pharmaceutical Co., Ltd.[18]. Operational Highlights - The company delivered approximately 13,134 protein structures during the reporting period, a year-on-year increase of 73.8%, and added 226 new independent drug targets, bringing the total number of clients to 1,032[6]. - The number of research pipelines for incubated companies increased to 185, with 20 pipelines entering clinical stages in 2021[7]. - The available capacity for CDMO operations was 671 cubic meters, with an additional 189 cubic meters expected to be operational in 2022[7]. - The CMC R&D center, covering approximately 10,000 square meters, partially commenced operations in December 2021, with 120 CMC researchers[7]. - The company aims to enhance the synergy between CRO and CDMO businesses and build an open cooperation platform for global biopharmaceutical innovators in 2022[9]. - The company plans to deepen project business capabilities to accelerate the funnel effect and maximize company and shareholder value[9]. Acquisitions and Investments - The company acquired multiple properties in Shanghai, Zhangjiang, Chengdu, Hangzhou, and Jiaxing to support rapid business growth and personnel plans[7]. - The subsidiary, Langhua Pharmaceutical, obtained MPP licensing to produce and supply Merck's oral antiviral drug Molnupiravir to low- and middle-income countries[9]. - The company acquired 100% of SYNthesis med chem (Hong Kong) Limited for approximately RMB 451.0 million on February 28, 2021, with no other significant investments or acquisitions reported during the period[60]. - A total of 14 incubated companies completed new financing rounds, raising over USD 360 million[27]. Financial Stability - Total assets as of December 31 were RMB 8,044.8 million, a slight decrease from RMB 8,154.1 million in 2020[11]. - The company’s equity attributable to owners was RMB 3,913.4 million, up from RMB 3,756.8 million in 2020[11]. - The capital debt ratio was 51.4% for the year, compared to 53.9% in 2020, indicating improved financial stability[11]. - As of December 31, 2021, the company's cash and cash equivalents totaled approximately RMB 800.9 million, a decrease of 65.3% from approximately RMB 2,308.5 million as of December 31, 2020, mainly due to repayment of bank loans of approximately RMB 975.6 million[57]. - The debt-to-asset ratio as of December 31, 2021, was approximately 51.4%, down from 53.9% as of December 31, 2020[58]. Research and Development - The R&D investment for the reporting period was RMB 92.4 million, a 40.0% increase from RMB 66.0 million for the year ended December 31, 2020[28]. - The company continues to focus on innovative drug development and has integrated resources to provide comprehensive services from early-stage drug research to commercialization[17]. - The company has published approximately 10 research papers related to obesity and diabetes, showcasing its commitment to scientific advancement[126]. Market and Customer Insights - CRO business revenue surged from RMB 438.8 million to RMB 740.4 million, a growth of approximately 68.7%, with a backlog of orders amounting to RMB 965.0 million, up 58.9% year-on-year[19]. - The CRO business's customer distribution is diversified, with approximately 72.5% of revenue coming from the United States and 16.1% from mainland China, which saw an increase of approximately 83.8% year-on-year[19]. - Revenue from customers in the United States reached RMB 646.5 million, up 63.0% from RMB 396.9 million year-on-year, while revenue from the European Union increased to RMB 590.2 million, a rise of 363.5% from RMB 127.5 million[38]. Corporate Governance - The company has a strong focus on maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[145]. - The company has adopted the principles and code provisions of the Corporate Governance Code as per the listing rules to ensure proper oversight of business activities and decision-making processes[145]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse governance structure[149]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional qualifications to enhance performance[168]. Shareholder Relations - The company emphasizes effective communication with shareholders to strengthen investor relations[190]. - The company’s website serves as a communication platform for shareholders and investors, providing access to financial and other relevant information[191]. - The company is committed to maintaining ongoing dialogue with shareholders, particularly through annual general meetings[190].
维亚生物(01873) - 2021 - 年度财报