CISEN(SH:603367)2022-04-26 16:00Financial Performance - In 2021, the company's operating revenue was CNY 3,782,592,635.09, an increase of 2.95% compared to CNY 3,674,158,475.21 in 2020[30]. - The net profit attributable to shareholders was CNY 334,146,422.91, representing a decrease of 23.85% from CNY 438,784,463.09 in 2020[30]. - The net profit after deducting non-recurring gains and losses was CNY 300,431,707.46, down 26.38% from CNY 408,094,652.08 in 2020[30]. - The net cash flow from operating activities was CNY 233,598,087.93, a significant decline of 45.80% compared to CNY 431,007,158.05 in 2020[30]. - The total assets at the end of 2021 were CNY 6,363,715,061.04, an increase of 3.21% from CNY 6,165,710,473.50 at the end of 2020[30]. - The basic earnings per share were CNY 0.74, down 23.71% from CNY 0.97 in 2020[30]. - The weighted average return on equity decreased to 6.73%, down 2.52 percentage points from 9.25% in 2020[30]. - The total profit for 2021 was 336.13 million yuan, a decrease of 30.63% compared to the previous year[44]. - The net profit for 2021 was 333.90 million yuan, down 23.66% year-on-year[44]. - The company's equity attributable to the parent company increased by 5.29% to 5.05482 billion yuan, mainly due to an increase in undistributed profits[44]. Research and Development - The company maintained a research and development investment ratio of over 8% of sales revenue, supporting its transformation and sustainable development[47]. - The company has over 400 drug approval numbers, covering various forms including injections and oral solid preparations, which provides a competitive product structure advantage[69]. - Research and development expenses increased by 8.00% to RMB 334,345.85 million, reflecting the company's commitment to innovation[72]. - The company has several projects in the pipeline, including drugs for diabetes and cardiovascular diseases, with some in the middle trial stage[130]. - The company is actively pursuing research and development for new drug formulations to enhance therapeutic efficacy[101]. - The company has received approvals for 3 generic drugs and 4 products through consistency evaluation during the reporting period[124]. - The company is collaborating with CROs to expand its R&D capabilities under the MAH policy, aiming for more product launches[119]. - The company is actively developing new drugs targeting major clinical needs, including anti-tumor and anti-drug-resistant infections[121]. Governance and Compliance - The company maintained a governance structure that complies with relevant laws and regulations, ensuring effective operation and protection of shareholder rights[167]. - The board of directors established four specialized committees, enhancing decision-making quality and governance standards[168]. - The company has implemented strict insider information management practices, preventing any incidents of insider trading or information leaks during the reporting period[171]. - The management team has been proactive in compliance training and financial oversight, enhancing operational control and accountability[170]. - The company has ensured transparency in information disclosure, adhering to regulations and providing equal access to all shareholders[171]. Market Strategy and Expansion - The company expanded its sales network across the country, focusing on OTC drugs, special medical foods, and traditional Chinese medicine products as new growth points[44]. - The company is focused on optimizing its existing product lines while seeking new profit growth points amid significant opportunities and challenges in the pharmaceutical industry[58]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for this purpose[185]. - A strategic partnership was formed with a leading biotech firm to co-develop innovative therapies, expected to launch in 2024[185]. - The company is actively pursuing market expansion and technological innovation through its various R&D initiatives[151]. Risk Management - The company faces industry cyclical risks due to increased competition and policy changes, necessitating adjustments in production and operational plans[161]. - The company is monitoring national policy changes and adapting internal management to mitigate risks associated with new pharmaceutical regulations[162]. - The company recognizes the high investment and risk associated with drug R&D and is focused on building a high-quality R&D talent team[163]. - The company is aware of market environment risks, including global economic uncertainties, and is adjusting its product structure towards high-tech industries[162]. Compensation and Remuneration - The total pre-tax compensation for the chairman and general manager, Du Zhenxin, was CNY 1.0553 million[177]. - Vice General Manager and Director, Hao Liushan, received CNY 750,200 in pre-tax compensation and held 200,000 shares at year-end due to stock incentive grants[177]. - The total pre-tax compensation for independent director, Sun Xingsheng, was CNY 80,000[177]. - The total pre-tax compensation for independent director, Zhang Hong, was CNY 80,000[177]. - The total pre-tax compensation for independent director, Cai Hong, was CNY 80,000[177].