Starry(SH:603520)2023-04-17 16:00Financial Performance - The company's operating revenue for 2022 was CNY 2,131,239,988.65, representing a 6.57% increase compared to CNY 1,999,916,888.19 in 2021[22]. - The net profit attributable to shareholders of the listed company was a loss of CNY 75,845,700.75, a decrease of 123.43% from a profit of CNY 323,754,754.88 in 2021[22]. - The net cash flow from operating activities was a negative CNY 78,373,916.58, down 115.40% from CNY 508,839,385.25 in the previous year[22]. - Total assets increased by 8.31% to CNY 5,302,180,118.40 at the end of 2022, compared to CNY 4,895,377,815.83 at the end of 2021[22]. - The company's net assets attributable to shareholders decreased by 18.84% to CNY 1,765,240,118.24 from CNY 2,174,978,008.51 in 2021[22]. - The company reported a slight decrease of 0.30% in revenue after excluding non-main business income, totaling CNY 1,867,632,680.20[22]. - The basic earnings per share decreased by 123.40% to -0.22 RMB per share in 2022[24]. - The diluted earnings per share also fell by 123.16% to -0.22 RMB per share[24]. - The weighted average return on equity dropped by 19.85 percentage points to -3.81%[23]. - The net profit after deducting non-recurring gains and losses was -97.94 million RMB, down 131.81% year-on-year[33]. - The gross margin for the pharmaceutical manufacturing segment decreased by 12.88 percentage points to 25.27%[57]. Operational Challenges - The company faced challenges from a complex international environment, including inflation and supply chain disruptions[33]. - The company reported a significant decline in gross margin due to rising raw material prices and pricing constraints from centralized procurement[33]. - The company is focusing on the integration of intermediate, raw materials, and formulations to strengthen its supply chain resilience[35]. - The company is actively pursuing new technologies to lower production costs and improve product yield through ongoing technical improvements[34]. - The company faces operational risks related to raw material price fluctuations, particularly for iodine, which is subject to international market volatility[117]. - The company faces quality risks in raw materials, which could lead to product recalls and decreased demand for its APIs and intermediates[118]. - The transition to formulation sales is challenged by significant price drops due to national centralized procurement policies, impacting profitability for non-winning bidders[119]. - High investment and long cycles in drug R&D present risks, with uncertainties potentially leading to missed market opportunities and declining gross margins[120]. - Environmental and safety production risks are present, with potential penalties for non-compliance with national environmental regulations affecting operational performance[119]. Research and Development - The company invested CNY 134.62 million in R&D, accounting for 6.32% of its revenue[91]. - The company has 276 dedicated R&D personnel, with a PhD and Master's ratio of 13.41%[91]. - The company’s main products, including Iohexol injection and Gadobutrol injection, are currently under active research and registration[91]. - The company has established multiple R&D bases across various locations, including Zhejiang and Shanghai[91]. - The company has over 30 authorized invention patents and has established multiple research centers, enhancing its R&D capabilities in non-ionic contrast agents[49]. Market Strategy - The company aims to become the largest and most comprehensive manufacturer of contrast agent generics globally, focusing on filling domestic gaps in the market[46]. - The company plans to increase international market expansion efforts, targeting regions such as Europe, Southeast Asia, and South America[116]. - The company is transitioning towards digitalization, enhancing automation and intelligence in production processes to improve efficiency[115]. - The company will implement strategies to reduce raw material costs through deeper cooperation with suppliers and expanding procurement channels[114]. - The company is advancing its digital transformation initiatives to improve operational efficiency and reduce labor costs[34]. Corporate Governance - The company maintains a robust corporate governance structure, ensuring compliance with relevant laws and protecting shareholder rights[122]. - The company actively engages with investors through platforms and direct communication to ensure transparency and address inquiries[124]. - The company held one shareholders' meeting during the reporting period, adhering to legal and regulatory requirements[126]. - The company has established a comprehensive internal control system, with no significant deficiencies reported during the period[157]. - The company has committed to a share transfer limit of no more than 25% of total shares held during their tenure, with a six-month restriction post-resignation[183]. Environmental Compliance - The company achieved a total wastewater discharge of 494,697 tons in 2022, with a COD discharge of 139.985 tons[160]. - The company maintained compliance with environmental discharge standards, with no exceedances reported for key pollutants[162]. - The company has established a hazardous waste storage facility with a maximum capacity of 650 tons, complying with environmental protection standards[166]. - The company has implemented a comprehensive environmental risk emergency mechanism, ensuring effective response to environmental incidents[168]. - The company’s wastewater monitoring includes key pollutants such as COD, pH, and ammonia nitrogen, with automatic online monitoring every 2 hours for certain indicators[169]. Shareholder Information - The company plans to distribute a cash dividend of CNY 2 per 10 shares to all shareholders, pending approval at the 2022 annual general meeting[5]. - The total number of shares held by Hu Jingsheng increased from 50,274,000 at the beginning of the year to 70,383,600 at the end of the year, reflecting an increase of 20,109,600 shares due to a capital reserve distribution of 4 shares for every 10 shares held[128]. - The total number of shares held by Hu Jian increased from 44,100,000 to 61,740,000, with an increase of 17,640,000 shares attributed to the same capital reserve distribution[128]. - The total number of shares held by Shen Weiyi increased from 41,800 to 58,520, resulting in an increase of 16,720 shares due to the capital reserve distribution[128]. - The total compensation for Hu Jingsheng was 126.34 million yuan, while Hu Jian received 97.50 million yuan in compensation[128]. Financial Management - The company has engaged in cash asset management with a total amount of 13,000,000 RMB from idle raised funds[199]. - The company has multiple financial management agreements with banks, with amounts of 3,000,000 RMB and varying annualized returns between 3.00% and 3.20%[200]. - The company has a financial management agreement with China Construction Bank for 3,000,000 RMB with an expected return of 3.20%[200]. - The company has a financial management agreement with Bank of China for 3,000,000 RMB with an expected return of 3.20%[200]. - The company has a financial management agreement with Shanghai Pudong Development Bank for 3,000,000 RMB with an expected return of 3.10%[200].