LNCD(SH:600739)2022-04-21 16:00Financial Performance - The company's operating revenue for 2021 was CNY 18,372,549,565.31, representing an increase of 8.43% compared to CNY 16,944,777,575.91 in 2020[13] - The net profit attributable to shareholders of the listed company was CNY 2,159,319,876.02, a decrease of 22.08% from CNY 2,771,273,269.84 in the previous year[13] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,136,569,885.72, which is an increase of 102.65% compared to CNY 1,054,308,406.30 in 2020[13] - The net cash flow from operating activities was CNY 313,814,318.48, down 59.52% from CNY 775,209,593.07 in the previous year[13] - The company reported a significant increase in user data, with a total of 490,000 users recorded during the reporting period[115] - The company reported a revenue of RMB 208,804.35 million for preventive vaccines, with a gross margin of 89.85% and a year-over-year revenue increase of 4.63%[71] Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.20 per 10 shares, totaling CNY 336,536,159.52 based on the total share capital of 1,529,709,816 shares as of the end of 2021[2] - The cash dividend distributed for 2020 was 2.20 yuan per 10 shares, amounting to 336,536,159.52 yuan, which accounted for 12.14% of the net profit attributable to shareholders of the parent company[138] - The company has a clear cash dividend policy, ensuring that at least 30% of the average distributable profit over the last three years is distributed in cash, provided certain conditions are met[137] Assets and Liabilities - The net assets attributable to shareholders of the listed company increased by 16.32% to approximately ¥27.99 billion at the end of 2021, compared to ¥24.06 billion at the end of 2020[14] - Total assets rose by 22.63% to approximately ¥48.02 billion at the end of 2021, up from ¥39.16 billion at the end of 2020[14] - Cash and cash equivalents increased by 163.48% to ¥5,597,021,396.39, accounting for 11.66% of total assets, primarily due to equity financing from Chengda Bio's IPO[55] - Short-term borrowings grew by 108.44% to ¥5,878,399,540.86, which is 12.24% of total liabilities, mainly due to increased bank loans[55] - The total amount of guarantees provided by the company, including those to subsidiaries, is 1,087 million RMB, which accounts for 3.88% of the company's net assets[179] Research and Development - The company has developed a core technology platform for large-scale vaccine production, enhancing its production capabilities[33] - The company emphasizes innovation in its R&D efforts, focusing on new vaccine varieties and improving product quality[32] - The R&D team consists of 170 professionals with extensive experience in vaccine development and industrialization, focusing on accelerating the commercialization of products in clinical trials[73] - The company is actively collaborating with leading academic institutions and enterprises to enhance its research capabilities and develop innovative vaccine products[73] - The company has filed 13 invention patents related to the COVID-19 vaccine, which are currently under substantive examination by the National Intellectual Property Administration[77] Market and Industry Trends - In 2021, China's vaccine exports reached approximately ¥101 billion, a 52-fold increase compared to 2020, driven by the demand for COVID-19 vaccines[23] - The demand for human vaccines is expected to continue growing, driven by rising disposable income and increased public awareness of infectious diseases, leading to an expanding market size[65] - The market for multi-valent vaccines is recognized as a future trend, with government backing for research and development in this area[66] Corporate Governance - The company maintains full operational independence from its controlling shareholder, implementing a "five separations" policy across business, assets, personnel, institutions, and finance[111] - The board of directors and supervisory board operate independently, with no interference from shareholders in company decisions[111] - The company has established performance evaluation and incentive mechanisms for directors, supervisors, and senior management based on their contributions to operational performance[110] - The company adheres to strict information disclosure practices, ensuring transparency and compliance with regulations[110] Environmental Compliance - The company has maintained compliance with environmental regulations, ensuring that all emissions and waste are treated according to national standards[146] - Xinjiang Baoming has established a comprehensive wastewater treatment system, utilizing treated wastewater as production supplementary water to reduce fresh water consumption[147] - The company has implemented pollution control measures including desulfurization, denitrification, and dust removal facilities, ensuring compliance with national environmental standards[149] Future Outlook - The company anticipates a complex economic environment in 2022, with increased downward pressure and a focus on high-quality development amid ongoing global challenges[95] - Future guidance indicates a projected growth rate of 20% for the upcoming fiscal year, reflecting the company's optimistic outlook[117] - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions to enhance its market presence[117]