2022-03-23 16:00Financial Performance - The company's revenue for 2021 was approximately ¥22.90 billion, representing a 38.50% increase compared to ¥16.54 billion in 2020[19]. - The net profit attributable to shareholders for 2021 was approximately ¥5.10 billion, a 72.19% increase from ¥2.96 billion in 2020[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥4.06 billion, reflecting a 70.38% increase from ¥2.39 billion in 2020[19]. - The company's total assets at the end of 2021 were approximately ¥55.13 billion, a 19.09% increase from ¥46.29 billion at the end of 2020[19]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥38.49 billion, an 18.46% increase from ¥32.49 billion at the end of 2020[19]. - The net cash flow from operating activities for 2021 was approximately ¥4.59 billion, a 15.49% increase from ¥3.97 billion in 2020[19]. - The company achieved operating revenue of RMB 22,902.39 million in 2021, representing a year-on-year growth of 38.50%[21]. - Basic earnings per share rose by 65.09% to RMB 1.75, and diluted earnings per share increased by 64.76% to RMB 1.73[23]. - The weighted average return on equity was 14.05%, an increase of 1.14 percentage points compared to the previous year[22]. - The company reported a total of RMB 152,675.06 million in investment income, fair value changes, and asset disposal income, which increased by RMB 87,593.77 million compared to the previous year[22]. Dividend Policy - The company plans to distribute a cash dividend of RMB 5.1740 per 10 shares, totaling approximately RMB 1.53 billion (including tax) based on the current total share capital[3]. - The cash dividend policy stipulates that during a mature development stage with no major capital expenditure, at least 80% of the profit distribution should be in cash dividends[166]. - The company aims to ensure that cash dividends in any three consecutive years are no less than 30% of the average distributable profit for those years[166]. Business Strategy and Growth - The company has been focusing on precision medicine and the development of new drug formulations, leveraging advancements in genomic sequencing and big data[19]. - The company is actively expanding its market presence and enhancing its research capabilities through strategic partnerships and acquisitions[19]. - The company issued $300 million of zero-coupon convertible bonds due in 2024, indicating a strategy to raise capital for future growth[19]. - The company plans to establish a new production base in Delaware, USA, expected to be operational by 2025, marking its second base in the U.S.[41]. - The acquisition of OXGENE in the UK will enhance the company's capabilities in cell and gene therapy, improving production efficiency and reducing costs[42]. - The company is investing in new technologies such as AI and automation to enhance operational efficiency and reduce drug development barriers[40]. - The company aims to enhance its CRDMO and CTDMO service capabilities through acquisitions and internal innovation, focusing on cutting-edge technology fields[99]. Market Performance - Revenue from US customers reached RMB 12.146 billion, a year-on-year increase of 37.1%[29]. - Revenue from European customers was RMB 3.719 billion, growing 40.3% year-on-year[29]. - Revenue from Chinese customers amounted to RMB 5.802 billion, reflecting a 40.0% year-on-year growth[29]. - Revenue from other regions reached RMB 1.234 billion, with a year-on-year increase of 40.7%[29]. - Revenue from existing customers totaled RMB 21.295 billion, up 28.8% year-on-year[29]. - Revenue from the top 20 global pharmaceutical companies was RMB 6.733 billion, a 24.1% increase year-on-year[29]. - Revenue from global other customers reached RMB 16.170 billion, growing 45.6% year-on-year[29]. Research and Development - The company completed the synthesis of over 310,000 new compounds in 2021, enhancing early-stage small molecule drug development[47]. - The company’s CRDMO service revenue experienced rapid growth, with small molecule compound discovery service long-tail customer revenue increasing by 71% year-on-year, contributing to a total of 1,666 new drug molecules in the D&M service projects[48]. - The company is committed to improving customer satisfaction through high-quality services and expanding its customer base, particularly targeting long-tail customers[101]. - The company plans to expand its R&D service platform capabilities, including new laboratories and production bases in various locations, such as Nantong and Wuhan[100]. Environmental Responsibility - The company is committed to environmental responsibility and compliance with pollution discharge standards across all its facilities[181]. - The company has implemented a comprehensive waste management strategy, ensuring all hazardous waste is handled by qualified third-party disposal services[183]. - The company has established monitoring plans for emissions, with annual assessments scheduled for various pollutants[182]. - The wastewater treatment facility has a combined capacity of 1,300 m³/d, with a design capacity of 500 m³/d and 800 m³/d for its two systems[186]. - The company has upgraded its wastewater treatment process to include MBR membrane technology, enhancing treatment capacity and effectiveness[198]. Corporate Governance - The company has established a complete governance structure ensuring independence from the actual controller in terms of assets, personnel, finance, and operations[115]. - The company has implemented a long-term mechanism to prevent the controlling shareholder from occupying company funds, ensuring financial independence[115]. - The company has a robust internal control system to ensure independent financial decision-making[115]. - The company is committed to enhancing its corporate governance structure in compliance with relevant laws and regulations, ensuring the protection of shareholder rights[114]. Employee Development - The company has established a competitive compensation management and incentive mechanism to promote employee development and growth[159]. - The training program includes a structured training system for employees at all levels, focusing on leadership development and professional skills enhancement[160]. - The Potential Leaders Development Program (PLDP) includes over 10 courses aimed at enhancing leadership skills for high-potential employees[162]. - The company emphasizes continuous updates and iterations of training and selection content to align with business development strategies[165]. Risks and Challenges - The company faces risks from intensified competition in the pharmaceutical research service market, particularly from large pharmaceutical companies and new market entrants[107]. - The company is exposed to risks from international operations, including potential adverse effects from changes in laws, policies, or political environments in foreign markets[109]. - The company acknowledges the potential impact of unforeseen events, such as public health crises or natural disasters, on its operations and has developed a business continuity plan[112].