MYL(SH:600993)2019-04-26 16:00Financial Performance - The company achieved a net profit of ¥185,063,889.64 for 2018, with a total distributable profit of ¥1,469,580,812.05 at year-end[6]. - Revenue for 2018 was ¥2,197,507,493.54, representing a 25.53% increase compared to ¥1,750,592,393.66 in 2017[23]. - The net profit attributable to shareholders decreased by 44.94% from ¥320,051,428.15 in 2017 to ¥176,207,926.66 in 2018[23]. - The company reported a basic earnings per share of ¥0.41 for 2018, down 44.59% from ¥0.74 in 2017[23]. - The total assets increased by 6.27% to ¥2,926,538,093.32 at the end of 2018, compared to ¥2,753,954,807.23 at the end of 2017[23]. - The net cash flow from operating activities was ¥308,243,561.19, a decrease of 13.46% from ¥356,168,369.00 in 2017[23]. - The company reported a weighted average return on equity of 7.87% for 2018, down from 15.41% in 2017, a decrease of 7.54 percentage points[23]. Dividend Distribution - The company plans to distribute a cash dividend of ¥1.5 per 10 shares, totaling ¥64,658,083.65[6]. - In 2018, the company distributed cash dividends totaling 64,658,083.65 yuan, representing 36.69% of the net profit attributable to ordinary shareholders[150]. Quarterly Performance - In Q1 2018, the company's operating revenue was approximately CNY 496.48 million, with a net profit attributable to shareholders of CNY 68.31 million[26]. - In Q2 2018, the operating revenue increased to approximately CNY 575.80 million, but net profit attributable to shareholders decreased to CNY 34.32 million[26]. - In Q3 2018, the operating revenue was approximately CNY 519.99 million, with a further decline in net profit to CNY 18.05 million[26]. - In Q4 2018, the operating revenue reached approximately CNY 605.23 million, and net profit attributable to shareholders rebounded to CNY 55.52 million[26]. Business Transformation - The company is transitioning from a pharmaceutical manufacturer to a provider of anal health solutions, expanding into pharmaceutical distribution and healthcare services[35]. - The company focuses on the core positioning of providing hemorrhoid health solutions and is expanding its business into internet healthcare[44]. - The company aims to transition from a pharmaceutical manufacturer to a provider of comprehensive hemorrhoid health solutions[48]. Market Position - The company’s market share in the retail terminal market for hemorrhoid medications increased to 51.4% in 2018[44]. - The pharmaceutical industry in China saw a cumulative main business income of 1.839 trillion yuan in 2018, with a year-on-year growth of 13.5%[39]. - The total medical service expenditure in China grew from 1.998 trillion yuan in 2010 to 4.756 trillion yuan in 2017, with a compound annual growth rate of 13%[40]. Research and Development - The company’s R&D investment reached 17.137 billion yuan in the first half of 2018, a year-on-year increase of 37.74%[44]. - The company has 15 products included in the National Essential Medicines List and 34 products in the National Medical Insurance Directory[48]. - The company’s R&D investment as a percentage of net assets is 2.04%, which is considered moderate within the industry[108]. Operational Efficiency - The company emphasizes a centralized procurement model to reduce costs and improve inventory turnover rates[36]. - The company implemented lean production initiatives, resulting in improved operational efficiency and reduced ineffective processes[53]. - The company plans to strengthen its healthcare service layout and enhance collaborative effects through specialized medical service management systems[52]. Financial Management - The company has engaged in multiple financial products with various banks, achieving annualized returns ranging from 2.09% to 3.96% on different investments[172]. - The company has maintained a proactive approach in managing its financial assets, with no reported losses from its financial management activities[170]. - The company has diversified its financial management strategy by engaging with multiple banks for various financial products, enhancing its investment portfolio[172]. Social Responsibility - The company is committed to social responsibility, engaging in charitable activities and poverty alleviation efforts[188]. - The company invested a total of 42.15 million in poverty alleviation funds and 736.00 million in material assistance[189]. - The company plans to continue its social responsibility efforts in 2019, focusing on education and disaster relief[193]. Environmental Management - The company is enhancing its environmental management practices to comply with increasing regulatory requirements and reduce environmental risks[147]. - The hospital's wastewater discharge monitoring values were below standard limits, with no pollution disputes reported[195]. - The hospital has a comprehensive environmental risk emergency plan in place to manage potential environmental incidents[200].