TASLY(SH:600535)2022-03-30 16:00Financial Performance - The total distributable profit as of December 31, 2021, was RMB 6,012,423,573.06, with a proposed cash dividend of RMB 3.3 per 10 shares, totaling RMB 494,616,772.65, which represents 20.97% of the net profit attributable to ordinary shareholders [5]. - The company repurchased 4,114,980 shares for a total payment of RMB 56,428,791.20, which is considered as cash dividends, leading to a total cash dividend of RMB 551,045,563.85, accounting for 23.36% of the net profit attributable to ordinary shareholders [6]. - The company's operating revenue for 2021 was approximately ¥7.95 billion, a decrease of 41.43% compared to 2020 [24]. - Net profit attributable to shareholders increased by 109.51% to approximately ¥2.36 billion in 2021, primarily due to investment gains from the disposal of I-MAB equity [26]. - The net cash flow from operating activities rose by 56.39% to approximately ¥2.80 billion, driven by higher bank acceptance bill collections [26]. - Basic earnings per share increased by 109.33% to ¥1.57 in 2021, while diluted earnings per share remained the same [25]. - The weighted average return on equity improved by 8.65 percentage points to 18.41% [25]. - The company's total assets at the end of 2021 were approximately ¥16.54 billion, a slight increase of 0.29% from 2020 [24]. - The net assets attributable to shareholders increased by 8.43% to approximately ¥12.98 billion [24]. - The company's 2021 revenue decreased by 41.43% year-on-year to approximately ¥7.95 billion, primarily due to the disposal of Tian Shi Marketing in August 2020 [80]. Market and Product Development - The company is focusing on the cardiovascular, digestive metabolism, and oncology sectors, enhancing its biopharmaceutical platform and marketing efforts [33]. - The company has a pipeline of 94 products under development, including 46 Class 1 innovative drugs, with 52 products in clinical stages, and 19 projects in Phase II and III trials [34]. - The company has made significant progress in product registration, with 8 products obtaining registration certificates and supplementary applications, including new indications for the drug Puyouke for acute ischemic stroke and acute pulmonary embolism [34]. - The company has strengthened its digital marketing model, increasing market access and establishing a medical market service system, with three products continuing to be included in the national medical insurance negotiation catalog [35]. - The company is preparing for the spin-off listing of its subsidiary Tian Shili Bio, which is currently in the listing guidance phase with CITIC Securities [36]. - The company has invested in Yunnan Mayleaf Biotechnology Co., exploring the multi-faceted applications of industrial hemp in the medical field [36]. - The company has a total of 23 projects in the metabolic disease field, including the launch of the classic hypoglycemic drug Metformin and the initiation of Phase III clinical trials for the GLP-1 analog PB-119 [39]. - In the oncology field, the company has 19 projects under development, including the approval of injectable Temozolomide and the submission of production registration applications for injectable Boronitazomib [41]. - The company is focusing on innovative drug development in the cardiovascular field, with 22 products in the pipeline, including the first component traditional Chinese medicine for heart failure [38]. - The company has established a comprehensive disease prevention and treatment solution across four disease areas: cardiovascular, metabolic, oncology, and central nervous system [37]. Research and Development - The research pipeline includes 94 projects, with 46 class 1 innovative drugs and 52 entering clinical research stages, highlighting a strong focus on self-developed projects [43]. - The company has exclusive commercialization rights for three innovative formulations from Germany's Desitin in the central nervous system field, enhancing its marketing synergy [44]. - The company is advancing its modern traditional Chinese medicine with 30 products, including the innovative drug Kunxin Ning granules approved for registration [46]. - The company is developing 23 biopharmaceutical products, with the new generation thrombolytic drug Puyouke expanding its indications to include acute ischemic stroke and acute pulmonary embolism [48]. - The company has 38 chemical drug products in development, with significant progress on the 1.1 class antidepressant JS1-1-01 and several generic drugs receiving registration certificates [49]. - The company has a total of 1,209 patents, including 1,100 invention patents, with significant patents for its main products such as 291 for Compound Danshen Dripping Pills [78]. - The company has adopted a "four-in-one" innovative R&D model to accelerate the development of modern Chinese medicine, biological drugs, and chemical drugs [73]. - The company has several key R&D projects in clinical stages, including TSL-1806 for type 2 diabetes and TSL-1502 for tumors, indicating ongoing innovation [131]. - The company has submitted drug registration applications for multiple products, including new generation thrombolytic drugs for acute ischemic stroke and acute pulmonary embolism [133]. Marketing and Sales Strategy - The marketing strategy includes a flat organizational structure and regional control model to enhance core product influence and explore internet marketing [50]. - The company is strengthening business data management and advancing a digital marketing system to optimize customer relationship management and channel data collection [51]. - The Puyouke product sales network covers 30 provinces, 350 cities, nearly 1,200 counties, and over 3,000 hospitals, significantly increasing grassroots market coverage [52]. - Eight products entered 27 treatment guidelines and expert consensus during the reporting period, enhancing the academic influence of core products [53]. - The company established a new retail model, strengthening online marketing and brand value communication through various channels, including online live broadcasts and academic meetings [54]. - The company is enhancing its smart manufacturing capabilities to reduce production costs and improve market competitiveness, including the establishment of a smart manufacturing platform for traditional Chinese medicine [158]. - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions to enhance its product portfolio [117]. Corporate Governance and Management - The company has maintained a governance structure that complies with laws and regulations, receiving multiple awards for corporate governance, including the "Best Board Award" in 2020 [174]. - The independent directors constitute over one-third of the board, ensuring a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management [175]. - The company has established a management system for insider information to prevent insider trading, ensuring the quality of information disclosure [178]. - The total remuneration for the chairman was 2.81 million yuan, while the vice chairman received no remuneration [181]. - The company has not provided guarantees or collateral for the controlling shareholder, maintaining independence in operations and finances [176]. - The company has not faced any penalties or criticisms from regulatory bodies regarding information disclosure practices [177]. - The company’s management compensation system includes a basic salary and performance-based bonuses linked to annual performance targets [187]. - The company’s board of directors approved the annual credit limit application to banks during the April 2021 meeting [190]. - The company’s total number of directors and supervisors remained stable, with no significant changes in roles aside from the recent appointments [189]. - The company’s governance structure adheres to the regulations set forth in the Company Law and the Corporate Governance Guidelines for Listed Companies [187]. Social Responsibility and Community Engagement - The company actively participated in public welfare activities, promoting safe medication knowledge and enhancing product accessibility for grassroots patients [55]. - The company’s online prescription drug sales and chronic disease management were advanced through strategic partnerships with multiple e-commerce platforms [55]. - The company is focused on expanding its market presence and developing new products, particularly in the field of traditional Chinese medicine [185]. - The company is committed to maintaining a robust pipeline of innovative therapies to address unmet medical needs in various therapeutic areas [118].