药明康德(02359) - 2021 - 年度财报

Financial Performance - Revenue for 2021 reached RMB 22,902,385 thousand, a 38.5% increase from RMB 16,535,431 thousand in 2020[7] - Gross profit for 2021 was RMB 8,265,515 thousand, with a gross margin of 36.1%, down from 37.8% in 2020[7] - Net profit attributable to shareholders for 2021 was RMB 5,097,155 thousand, representing a 72.1% increase from RMB 2,960,235 thousand in 2020[7] - Adjusted EBITDA for 2021 was RMB 7,623,885 thousand, with an EBITDA margin of 33.3%, up from 28.4% in 2020[7] - Basic earnings per share for 2021 was RMB 1.75, compared to RMB 1.06 in 2020, reflecting a 65.1% increase[7] - The adjusted net profit margin for 2021 was 22.4%, slightly up from 22.0% in 2020[7] - The company reported an adjusted net profit attributable to shareholders of RMB 5,131,309 thousand for 2021, up from RMB 3,637,277 thousand in 2020[7] - The company achieved operating revenue of RMB 22,902.4 million in 2021, representing a year-on-year growth of 38.5%[9] - The net profit attributable to the parent company reached RMB 5,097.2 million, a year-on-year increase of 72.2%[9] - The company reported a significant increase in revenue, achieving a total of 51 billion RMB for the fiscal year 2021, marking a year-on-year growth of 20%[126] Business Expansion and Investments - The company plans to invest RMB 90–100 billion in capital expenditures in 2022 to enhance new molecular research and development capabilities[5] - The company aims to strengthen its global capabilities and scale, continuing to support partners in accelerating new drug development[5] - The company expanded its global operations with 31 operational bases and branches, serving over 5,700 active clients from more than 30 countries[9] - The company is constructing a new formulation and API production base in Delaware, USA, expected to be operational by 2025[11] - The acquisition of UK-based Oxgene was completed, enhancing the company's capabilities in cell and gene therapy production[12] - The company is investing in new capabilities such as PROTAC, oligonucleotides, and antibody-drug conjugates to capture emerging business opportunities[70] - The company completed the acquisition of UK-based Oxgene, enhancing its capabilities in cell and gene therapy with the TESSA™ technology and XLenti solutions, which significantly improve production efficiency and reduce costs[72] - The company is expanding its market presence in Europe and North America, targeting a 30% increase in market share within the next two years[130] Revenue Sources and Client Base - Revenue from US clients was RMB 12,146 million, up 37.1% year-on-year; revenue from European clients was RMB 3,719 million, up 40.3%[10] - Revenue from existing clients amounted to RMB 21,295 million, reflecting a growth of 28.8% year-on-year, while revenue from new clients was RMB 1,608 million[10] - The company achieved revenue from small molecule drug discovery services reached RMB 6,167.5 million, growing by 43.2% year-on-year[15] - The revenue from development and manufacturing (D&M) services was RMB 7,919.7 million, reflecting a 49.9% year-on-year increase[15] - The company added over 1,660 new clients, serving more than 5,700 active clients from over 30 countries, with approximately 29.4% of revenue coming from the top 20 global pharmaceutical companies[73] Operational Efficiency and Cost Management - The company anticipates a certain degree of revenue decline in 2022 due to upgrades in domestic new drug development services[19] - The management team emphasized a focus on operational efficiency, aiming to reduce costs by 15% over the next fiscal year through process optimization[133] - The company is committed to improving customer satisfaction through high-quality, efficient services and strict intellectual property protection[105] - The company aims to enhance its R&D service platform capabilities and scale, with plans to build and expand facilities in various locations, including Nantong, Wuhan, Changzhou, and the United States[103] Research and Development - The company submitted IND applications for 26 drug candidates in 2021, with a total of 144 IND submissions and 110 clinical trial approvals as of December 31, 2021[19] - The company has established a comprehensive pipeline with 13 drug assets targeting rare diseases and rare tumor indications[67] - The company is focused on internal innovation and external acquisitions to enhance its capabilities in cutting-edge technology fields[102] - The company will continue to invest heavily in new drug research and development, focusing on new molecular types such as PROTAC, oligonucleotide drugs, peptides, ADC, bispecific antibodies, and cell and gene therapies[107] Governance and Compliance - The company has a strong governance structure with independent directors overseeing the board's activities[144] - The board consists of 12 members, including 5 executive directors, 2 non-executive directors, and 5 independent non-executive directors[158] - The company has maintained compliance with corporate governance standards, ensuring that at least one independent non-executive director possesses appropriate professional qualifications or expertise in accounting or related financial management[160] - The company has established a compliance department and legal office to oversee internal controls and corporate governance[183] - The board is responsible for guiding and supervising the company's affairs, ensuring effective internal controls and risk management systems are in place[162] Risk Management - The company faces risks from a potential decline in demand for pharmaceutical research services, which could negatively impact business due to reduced client budgets and outsourcing needs[110] - The company is exposed to regulatory risks as the pharmaceutical research service industry is highly regulated, requiring timely adjustments to business strategies in response to policy changes[111] - The company has established a risk management framework to identify, assess, and respond to potential risks impacting operational goals[182] Shareholder Engagement - The company has established effective communication policies with shareholders to ensure proper responses to their opinions and concerns, which are regularly reviewed[195] - The company allows shareholders holding 3% or more of shares to propose temporary resolutions at the annual general meeting, ensuring transparency and engagement[191] - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[194]