Konruns(SH:603590)2021-03-22 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥808.64 million, a decrease of 24.14% compared to ¥1,065.92 million in 2019[21]. - Net profit attributable to shareholders decreased by 31.09% to ¥183.36 million from ¥266.08 million in 2019[22]. - The basic earnings per share fell by 30.72% to ¥1.15, down from ¥1.66 in the previous year[22]. - The net cash flow from operating activities decreased significantly by 77.71% to ¥58.41 million, compared to ¥262.00 million in 2019[22]. - Total assets increased by 19.28% to ¥3,785.66 million at the end of 2020, up from ¥3,173.84 million at the end of 2019[21]. - The company's net assets attributable to shareholders rose by 12.84% to ¥3,078.34 million from ¥2,727.99 million in 2019[21]. - The weighted average return on equity decreased by 3.74 percentage points to 6.51% from 10.25% in 2019[22]. - The company reported a significant reduction in non-recurring gains and losses, with a total of ¥33.04 million in 2020 compared to ¥31.47 million in 2019[27]. - The company experienced a decline in revenue due to the impact of the pandemic, affecting both sales and collections[22]. - The company's main product, "Su Ling" (injection of Agkistrodon Acutus snake venom), saw a revenue decrease of 24.76% compared to the previous year, totaling approximately ¥792.23 million[59]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.50 per 10 shares to all shareholders, subject to approval at the shareholders' meeting[5]. - The proposed cash dividend for 2020 is RMB 55,182,802.15, which translates to RMB 3.50 per 10 shares (tax included)[115]. - The total cash dividend, including share repurchase, amounts to RMB 74,500,905.00, representing 70.73% of the net profit attributable to ordinary shareholders[118]. - The cash dividend payout ratio for 2019 was 30.07%, with a total cash dividend of RMB 266,080,142.06[115]. - The cash dividend payout ratio for 2018 was 30.31%, with a total cash dividend of RMB 263,929,840.55[115]. Corporate Governance - The company reported a standard unqualified audit opinion from Huaxing Accounting Firm for the fiscal year 2020[4]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The report indicates that the company has maintained a commitment to the accuracy and completeness of its financial disclosures, with all board members present at the meeting[8]. - The company's actual controllers are Liu Jianhua and Wang Xijuan, with Liu Jianhua being the controlling shareholder[11]. - The company has established commitments to avoid competition with its controlling shareholders' other businesses[123]. - Liu Jianhua and Wang Xijuan pledged to regulate and minimize related party transactions, ensuring they do not adversely affect the company or other shareholders[125]. Research and Development - The company focuses on innovative drug research and development, particularly in the fields of hematology, orthopedics, and oncology, with its main product "Suling" being the only national class I new drug in the domestic hemostatic agent market[30]. - The company aims to enhance its innovative drug development process and quality management systems to improve project development speed and quality[82]. - The company has a robust pipeline of innovative drugs, with several projects in various stages of development, including I phase and preclinical[84]. - The company received clinical trial notification for the KC1036 project and entered Phase I clinical research in 2020[50]. - In 2020, the company invested CNY 93.1072 million in research and development, significantly supporting project development and innovation[83]. - Research and development expenses totaled ¥93.11 million, accounting for 11.51% of total revenue, with a decrease of 14.41% compared to the previous year[66]. Market Strategy - The company plans to focus on new product development and market expansion strategies to recover from the downturn[29]. - The marketing team successfully negotiated to include "Suling" in the National Basic Medical Insurance Drug List (2020), which is expected to enhance market share[48]. - The company aims to expand the market share of its product "Su Ling" through negotiations with medical insurance, targeting both existing and new hospital markets[106]. - The company utilizes a unique alliance model for sales, collaborating closely with specialized third-party academic promotion agencies to enhance market share[91]. Risk Management - The report emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements[6]. - The company has detailed potential risks in the report, which can be found in the section discussing operational conditions[7]. - The company faces market competition risks, particularly in maintaining the leading position of "Su Ling" after price negotiations[110]. - The company is also addressing new drug development risks, especially in the highly concentrated field of oncology innovation drugs[110]. Environmental and Social Responsibility - The company has received the title of National Green Factory in 2020, emphasizing its commitment to high-quality development and environmental responsibility[171]. - The company has actively participated in social welfare activities during the pandemic, including donations to various foundations and support for low-income areas[172]. - The company has established a leading drug safety management system covering the entire lifecycle of products from R&D to post-marketing[171]. - The company has not experienced any environmental pollution incidents during the reporting period and has not received any administrative penalties related to environmental protection[173]. - The company has established a hazardous waste and solid waste management system, ensuring proper disposal and compliance with environmental regulations[178]. Shareholder Information - The total number of ordinary shareholders increased from 13,877 to 14,375 during the reporting period[180]. - The largest shareholder, Liu Jianhua, holds 50,786,760 shares, representing 31.74% of the total shares[183]. - Liu Jianhua holds 58,466,760 shares, while Wang Xijuan holds 14,621,040 shares, with no changes in their holdings during the reporting period[194]. - The total pre-tax remuneration for the management team during the reporting period amounts to 538.45 million RMB[194].