Konruns(SH:603590)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was approximately ¥809.78 million, a slight increase of 0.14% compared to ¥808.64 million in 2020[24]. - The net profit attributable to shareholders decreased by 19.29% to ¥147.99 million in 2021 from ¥183.36 million in 2020[24]. - The basic earnings per share for 2021 was ¥0.94, down 18.26% from ¥1.15 in 2020[25]. - The total assets at the end of 2021 were approximately ¥3.37 billion, a decrease of 10.95% from ¥3.79 billion at the end of 2020[24]. - The net cash flow from operating activities increased by 21.41% to ¥70.91 million in 2021 from ¥58.41 million in 2020[24]. - The company reported a weighted average return on equity of 5.02% for 2021, down from 6.51% in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥114.19 million, a decrease of 24.03% compared to ¥150.31 million in 2020[24]. - The company experienced a significant decline in net assets attributable to shareholders, which decreased by 6.16% to approximately ¥2.89 billion at the end of 2021[24]. - The fourth quarter of 2021 saw a net profit attributable to shareholders of ¥10.77 million, a significant drop compared to previous quarters[26]. - The company achieved a total revenue of CNY 809.78 million in 2021, representing a slight increase of 0.14% year-on-year[89]. - The net profit attributable to the parent company was CNY 147.99 million, a decrease of 19.29% compared to the previous year[89]. Research and Development - The company increased its R&D investment to CNY 164.89 million, a significant growth of 77.09% compared to the same period in 2020, accounting for 20.36% of its revenue[34]. - The company has established a talent team to enhance its original drug development capabilities, focusing on high-level talent acquisition and training[48]. - The company is focusing on innovative drug development in response to unmet clinical needs, including chemical drugs, biological drugs, and traditional Chinese medicine[34]. - The company is actively developing multiple innovative drugs, including KC1036, targeting AXL receptor tyrosine kinase and VEGFR2[119]. - The company has ongoing R&D projects, including KC1036 and CX1003, with respective investments of RMB 57.79 million and RMB 31.55 million, showing a significant increase of 121.22% and 85.67% compared to the previous year[140]. - The capitalized R&D expenditure accounted for 37.98% of total R&D investment, with RMB 62.62 million capitalized during the reporting period[136]. - The company is increasing R&D investment and collaborating with renowned domestic and international enterprises and research institutions to accelerate its R&D pipeline[156]. Product Development and Market Strategy - The innovative drug KC1036 has shown promising clinical progress, entering Phase Ib/II trials, with potential applications in esophageal cancer, thymic cancer, and cholangiocarcinoma[37]. - The company is actively expanding its product pipeline, with key products like KC-B173 and Jin Cao Pian entering clinical research stages, enhancing its market competitiveness[39]. - Jin Cao Pian, a traditional Chinese medicine, has completed Phase II clinical trials, demonstrating good safety and efficacy in treating chronic pelvic pain, with plans to submit for Phase III trials[40]. - The strategic plan for 2019-2028 aims to transition from a single product focus to a multi-product strategy, with a goal of launching multiple self-developed innovative drugs by 2026-2028[33]. - The company is leveraging its experience in the field of hemostatic agents to enter the pet medicine market, aiming to meet the demand for canine injectable hemostatic agents[38]. - The company is committed to maximizing the product lifecycle of its existing products while continuously expanding its product structure through strategic collaborations[39]. - The company is focusing resources on key R&D projects such as KC1036, "Jincao Tablets," and "Canine Injectable Hemostatic Agent" to achieve timely market launches[152]. Market Performance and Challenges - "苏灵" sales revenue decreased by 28.78% year-on-year due to policy changes and market conditions[42]. - The ongoing pandemic has impacted the sales volume of "Suling," as the utilization rate of hospital beds was only 75.1% by the end of 2021, affecting surgical procedures[81]. - The company aims to maintain and expand the market share of its leading product "Suling," which is the highest-selling hemostatic drug in the domestic market, despite price reductions from national insurance negotiations[155]. - The company is expanding its sales channels for "Mikexi" through academic guidance and online sales initiatives, aiming to enhance product accessibility and recognition among healthcare professionals and patients[80]. Governance and Compliance - The company has established a governance structure that ensures compliance with laws and regulations, protecting the interests of all shareholders[160]. - The company is committed to transparent information disclosure and maintaining effective communication with investors[162]. - The company strictly adhered to the insider information management system, ensuring confidentiality and proper registration of insiders during the reporting period[163]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[178]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[163]. Shareholder Engagement and Remuneration - The company plans to implement a three-year shareholder return plan from 2021 to 2023, which was approved in the meetings[166]. - The total pre-tax remuneration for all listed directors and supervisors amounted to 5,379,000 RMB[170]. - The remuneration for directors and supervisors is determined by the shareholders' meeting, while senior management remuneration is decided by the board of directors[175]. - The company ensures that minority shareholders have the opportunity to express their opinions and that their legal rights are fully protected[200]. Strategic Partnerships and Collaborations - The company has signed a cooperation agreement with WuXi AppTec for the development of KC1072, further enhancing its oncology product line[41]. - The company has formed strategic partnerships with various research institutions to enhance its innovative drug development capabilities[53]. - The company has established strategic partnerships with international firms to enrich its product pipeline, including collaborations with German biotech companies[86].