PULIKE(SH:603566)2022-04-28 16:00Financial Performance - The company achieved an annual revenue of CNY 1,098,568,103.53 in 2021, representing an 18.31% increase compared to the previous year[26]. - Net profit attributable to shareholders was CNY 244,137,406.56, reflecting a 7.20% growth year-over-year[26]. - The net profit after deducting non-recurring gains and losses reached CNY 184,868,648.42, marking a 21.05% increase from the prior year[26]. - The company's cash flow from operating activities was CNY 212,533,722.96, down 18.83% compared to 2020[26]. - The total assets of the company at the end of 2021 were CNY 2,168,280,813.81, a 6.87% increase from the end of 2020[26]. - The net assets attributable to shareholders reached CNY 1,800,452,116.65, reflecting a 5.31% increase year-over-year[26]. - The company achieved operating revenue of CNY 1,098,568,103.53, representing an 18.31% increase compared to the previous year[77]. - The sales revenue from swine vaccines increased by 47.23% year-on-year, while poultry vaccines and antibody sales grew by 7.04%[79]. - The gross margin for veterinary pharmaceuticals was 65.29%, an increase of 0.80 percentage points compared to the previous year[80]. - The company reported a total revenue of CNY 1.07 billion, with a gross margin of 65.29%, reflecting an 18.47% increase in revenue year-on-year[108]. Research and Development - Research and development expenses totaled CNY 85,572,300, accounting for 7.79% of total revenue[39]. - The company applied for 18 domestic and international invention patents during the year, with 38 patents granted[39]. - The company is advancing the development of genetically engineered subunit vaccines for major animal diseases, including African swine fever and foot-and-mouth disease, with clinical trial applications expected within the year[40]. - The company has established two major innovation platforms, including the Henan Provincial Veterinary Drug Technology Innovation Center, showcasing its leadership in technological innovation[41]. - The company has formed strategic partnerships with various research institutions to enhance its R&D capabilities[70]. - The company is focusing on innovative product development, particularly in the areas of next-generation genetic engineering vaccines and multi-valent vaccines, with a series of projects targeting strategic and market-demand products[109]. - Key research projects include the African Swine Fever subunit vaccine and the recombinant foot-and-mouth disease subunit vaccine, both currently in the preclinical research stage[112]. - The company has a robust pipeline of veterinary vaccines and pharmaceuticals, with ongoing projects aimed at addressing significant health challenges in livestock and pets[112]. Market and Product Development - The company has established a wholly-owned subsidiary focused on pet pharmaceuticals, with multiple products in development and clinical trial stages[49]. - The company is actively exploring marketing strategies that combine professional channel promotion and online marketing for its pet products[50]. - The company has made significant progress in the development of pet vaccines and chemical drugs, with several products receiving clinical trial approvals[49]. - The company aims to expand its market presence through innovative product offerings and strategic research initiatives[109]. - The company is committed to advancing its research capabilities to meet industry needs and enhance its competitive position[109]. - The company is focusing on expanding its market presence in the veterinary pharmaceutical industry, which is characterized by high concentration among large enterprises[103]. - The company has launched several new products, including a series of soluble powders and oral solutions, with specific registration numbers and expected release dates in 2026[121][122]. - The company is focusing on expanding its product line with new formulations such as injectable solutions and disinfectants, enhancing its market presence[126]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company’s financial report has been confirmed for its authenticity and completeness by its management team[4]. - The company maintains strict independence from its controlling shareholder, with no interference in decision-making or operations[164]. - The company has established a complete independent accounting system and financial management procedures[164]. - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[163]. - The board of directors consists of 9 members, including 3 independent directors, and held 11 meetings during the reporting period[163]. - The supervisory board convened 5 times during the reporting period, adhering to legal and regulatory requirements[164]. - The company has a clear three-year shareholder return plan for 2021-2023, which was also approved in the recent meetings[167]. Risk Management - The company has outlined various risks it may face in its production and operation processes, detailed in the report[8]. - The company faces risks from animal epidemics, regulatory changes, intensified market competition, product development challenges, and quality assurance issues[156][157][158][161]. Employee and Management Structure - The company has a total of 1,809 employees, with 976 in the parent company and 833 in major subsidiaries[198]. - The employee composition includes 838 production personnel, 509 sales personnel, 276 technical personnel, 41 financial personnel, and 145 administrative personnel[198]. - The company has optimized its salary structure in 2021, establishing a management salary system based on job sequences and improving the salary structure to enhance job security and highlight value contribution[199]. - The company has maintained a stable management structure with no changes in key positions during the reporting period[171]. Future Outlook - The company plans to raise up to 900 million RMB through a private placement to fund the construction of a high-pathogenic avian influenza inactivated vaccine production base and other projects, enhancing its industrial layout and production capacity[51]. - The company aims to complete the relocation and expansion of its production base by the end of 2023, which will help overcome current capacity bottlenecks and capitalize on market opportunities as high-pathogenic avian influenza vaccines exit government procurement by 2025[54]. - The company is considering strategic acquisitions to bolster its product portfolio, with a budget of $100 million allocated for potential deals[181]. - The company has set ambitious performance guidance for the upcoming fiscal year, aiming for a substantial increase in revenue and market share[123].