PULIKE(SH:603566)2019-03-29 16:00Financial Performance - The company's operating revenue for 2018 was CNY 608,059,265.46, representing a 14.75% increase compared to CNY 529,895,207.70 in 2017[29]. - The net profit attributable to shareholders for 2018 was CNY 135,614,826.19, an 18.77% increase from CNY 114,185,865.33 in 2017[29]. - The net profit after deducting non-recurring gains and losses was CNY 87,284,030.87, which is a 28.86% increase from CNY 67,734,905.75 in 2017[29]. - The company's total assets at the end of 2018 were CNY 1,903,079,629.30, a 5.43% increase from CNY 1,805,111,236.09 at the end of 2017[29]. - The net assets attributable to shareholders increased by 4.25% to CNY 1,635,570,001.83 at the end of 2018 from CNY 1,568,839,814.83 at the end of 2017[29]. - The basic earnings per share for 2018 was CNY 0.42, reflecting a 16.67% increase from CNY 0.36 in 2017[29]. - The company reported a net cash flow from operating activities of CNY 126,271,903.35, which is a 10.36% decrease from CNY 140,861,979.00 in 2017[29]. - The company achieved a revenue of CNY 608.06 million, representing a year-on-year growth of 14.75%[54]. - The net profit for the period was CNY 135.61 million, reflecting an increase of 18.77% compared to the previous year[54]. - The company reported a total sales revenue of ¥599,943,716.12, a 14.15% increase compared to ¥525,347,313.95 in the previous year[117]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling an expected cash dividend payout of RMB 97.122 million[7]. - In 2018, the company distributed a cash dividend of RMB 3.00 per 10 shares, totaling RMB 97,122,000, which represents 71.62% of the net profit attributable to ordinary shareholders[156]. - The company distributed cash dividends of 0.2 yuan per share in 2018, totaling 64.748 million yuan, maintaining a stable cash dividend policy[155]. - The company has maintained a commitment to transparency regarding unallocated profits and their intended use[156]. Research and Development - The company focuses on the R&D of animal biological products and chemical drugs, including vaccines and veterinary medicines[36]. - The company adopts an "innovation-driven development" strategy, emphasizing continuous innovation in vaccine products for major animal diseases[37]. - Research and development expenses amounted to CNY 73.46 million, accounting for 12.08% of total revenue[55]. - The company has applied for 26 invention patents, with 26 patents granted, including 3 international patents[55]. - The company has developed a series of biological products focusing on new-generation genetic engineering vaccines and multi-valent vaccines for disease control in pigs and poultry[94]. - The company is focusing on research and development of new veterinary drugs, with multiple products registered in 2023, showcasing its commitment to innovation in the animal health sector[108]. Market and Sales - The company achieved a 40.37% increase in income from intellectual property transfers, contributing significantly to revenue growth[61][66]. - The revenue from distribution business reached CNY 323.75 million, a year-on-year increase of 14.80%[56]. - Direct sales revenue was CNY 229.91 million, showing a growth of 19.26% compared to the previous year[56]. - The sales model for the company includes 53.96% from distributors, 38.32% from direct sales to large farming groups, and 2.70% from government procurement[117]. - The company aims to strengthen its market presence by diversifying its product range, as evidenced by the introduction of various formulations and delivery methods for existing drugs[108]. Risk Management - The company has detailed various risks it may face in its production and operation processes in the report[9]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[8]. - The company faces risks from animal epidemics, which could significantly impact the livestock industry and the veterinary drug sector[149]. - R&D in the veterinary drug industry is characterized by high investment and long cycles, with product development taking approximately six years[150]. - The company is exposed to market competition risks due to increasing international players in the domestic market[152]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The company has confirmed that all board members attended the board meeting for the annual report[6]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has committed to ensuring the accuracy and completeness of the financial report[5]. - The company has not faced any major litigation or arbitration matters during the reporting period[187]. Investments and Acquisitions - The company became a limited partner in the CITIC Agricultural Fund with a committed investment of ¥100 million, enhancing its international acquisition capabilities[59]. - The company has made significant equity investments, including 162.75 million yuan in Zhongpu Biological, holding a 46.50% stake, and 80 million yuan in CITIC Agricultural Fund, holding a 3.72% stake[124]. - The company has ongoing non-equity investments, including 403.65 million yuan in Huizhong Biological's veterinary drug industrialization project, with a total actual investment of 156.60 million yuan[125]. Compliance and Transparency - The company guarantees that its prospectus for the initial public offering (IPO) does not contain false records or misleading statements, and it will bear legal responsibility for its authenticity and completeness[170]. - The company has committed to not distribute cash dividends or pay salaries to directors and senior management until it fulfills its public commitments if it fails to meet the commitments[170]. - The controlling shareholder has committed to repurchase shares at a price not lower than the issuance price plus interest if the IPO prospectus contains any false records or misleading statements[173].