FUDAN FORWARD(SH:600624)2022-04-29 16:00Financial Performance - The net profit attributable to shareholders for 2021 was a loss of RMB 105,424,199.14, compared to a loss of RMB 59,657,118.90 in 2020, indicating a significant decline in profitability [5]. - Operating revenue for 2021 was RMB 1,041,335,675.14, representing a 10.74% increase from RMB 940,327,546.92 in 2020 [19]. - The basic earnings per share for 2021 was -0.154 yuan, compared to -0.087 yuan in 2020, reflecting a worsening financial performance [19]. - The weighted average return on equity for 2021 was -10.60%, down from -5.504% in 2020, indicating increased financial strain [19]. - The net cash flow from operating activities for 2021 was RMB 45,578,980.11, a decrease of 22.79% from RMB 59,034,975.02 in 2020 [19]. - Total assets at the end of 2021 were RMB 1,916,227,337.20, down 8.37% from RMB 2,091,207,013.01 at the end of 2020 [19]. - The net assets attributable to shareholders decreased by 12.03% to RMB 916,328,758.98 at the end of 2021, compared to RMB 1,041,657,203.41 at the end of 2020 [19]. - The company does not plan to distribute profits or increase capital reserves for 2021 due to the reported losses [5]. - The company reported a significant increase in impairment provisions for equity investments, contributing to the financial losses [19]. Revenue Segments - The pharmaceutical segment generated CNY 485.11 million in revenue, a decrease of 5.20% year-on-year, accounting for 46.58% of total revenue [28]. - The net profit from the pharmaceutical segment was CNY 48.16 million, down 3.82% from the previous year [28]. - The company’s park segment reported a revenue of CNY 212.21 million in 2021, an increase of 178% year-on-year, with a net profit of CNY 8.85 million, also up by 182% [32]. - The software business experienced a slight decline in revenue due to a nearly 10% drop in the average exchange rate of the Japanese yen against the RMB, despite an increase in sales volume and project revenue [51]. - The revenue from the software development sector decreased by 3.69% year-on-year, while the gross margin increased by 0.32 percentage points to 20.01% [62]. Research and Development - The company is advancing the consistency evaluation of five generic drug varieties, with Carbamazepine tablets being the first to pass this evaluation in China [29]. - The company is actively enhancing its governance structure and internal control management levels [28]. - The company is focusing on risk control and management improvement by revising governance systems and enhancing internal control capabilities [34]. - The company is focusing on the biopharmaceutical and digital economy sectors for future growth and expansion [88]. - The company is committed to ongoing research and development of new products and technologies [186]. - The company has a total of 8 major R&D projects currently in progress, focusing on generic drug quality and efficacy consistency evaluations [122]. Market Position and Strategy - The company maintains a strong brand image and market recognition, leveraging its affiliation with Fudan University and over 60 years of pharmaceutical experience to sustain stable growth in a competitive market [53]. - The company is focusing on optimizing its park layout and enhancing innovation resources to support sustainable development in its园区业务 [52]. - The company aims to enhance its competitive edge by leveraging strong client relationships and high-end design talent [153]. - The company plans to deepen its focus on specialty drugs and increase R&D investment to expand its product line in the pharmaceutical sector [155]. - The company aims to improve park operations by integrating resources and enhancing service levels in the biomedicine and digital economy sectors [157]. Regulatory Environment - The national medical insurance drug list adjustment emphasizes the inclusion of innovative drugs and clinical value, indicating a shift in focus towards enhancing healthcare quality [98]. - The implementation of the "Drug Post-Market Change Management Measures (Trial)" enhances the classification management of drug production changes based on risk, clarifying the principles and common situations for post-market changes [108]. - The introduction of stricter air pollutant discharge standards for the pharmaceutical industry in Shanghai increases operational costs for companies [110]. - The ongoing emphasis on green and sustainable development by the government poses significant challenges for the pharmaceutical industry, necessitating proactive measures to manage environmental impacts [111]. Corporate Governance - The company adheres to legal regulations and has established a sound corporate governance structure, ensuring the protection of shareholder rights [172]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements for independence [173]. - The company held 9 board meetings during the reporting period, ensuring compliance with relevant laws and regulations [173]. - The company actively engages with investors and stakeholders to maintain good relationships and enhance corporate image [175]. - The company has implemented measures to ensure the confidentiality of insider information and compliance with relevant regulations [176]. Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion yuan [189]. - New product launches are expected to contribute an additional 200 million yuan in revenue, with a focus on innovative technology solutions [190]. - The company plans to enter new geographic markets, aiming for a 15% revenue contribution from these regions by the end of the next fiscal year [190]. - The company plans to continue expanding its investment in technology and real estate sectors, focusing on strategic partnerships and project development [136].