东亚药业(605177) - 2021 Q4 - 年度财报

Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.0 per 10 shares, totaling RMB 22,720,000.00, subject to shareholder approval[5]. - The company has no plans for stock dividends or capital reserve transfers in the current profit distribution proposal[5]. - The proposed cash dividend for 2021 is RMB 2.0 per 10 shares, expected to total RMB 22,720,000, representing 33.17% of the net profit attributable to shareholders[197]. - In 2020, the company distributed a cash dividend of RMB 3.5 per 10 shares, totaling RMB 39,760,000, which accounted for 34.73% of the net profit attributable to shareholders[197]. - The cash dividend policy requires at least 20% of the distributable profits to be distributed in cash if the company is profitable and meets the conditions for cash dividends[195]. - The company's cash dividend conditions require that the distributable profits must be positive and that the financial report receives an unqualified audit opinion[191]. Financial Performance - In 2021, the company's operating revenue was CNY 712.22 million, a decrease of 19.22% compared to CNY 881.67 million in 2020[22]. - The net profit attributable to shareholders was CNY 68.49 million, down 40.17% from CNY 114.48 million in the previous year[22]. - The net cash flow from operating activities decreased by 116.06%, resulting in a negative cash flow of CNY 23.60 million[24]. - Basic earnings per share fell to CNY 0.60, a decline of 54.20% from CNY 1.31 in 2020[23]. - The total assets increased by 8.15% to CNY 2.25 billion, compared to CNY 2.08 billion in 2020[22]. - The company reported a significant drop in net profit due to factors such as safety and environmental upgrades, production line shutdowns, and the impact of the COVID-19 pandemic[23]. - The weighted average return on equity decreased to 3.94%, down 7.98 percentage points from 11.92% in 2020[23]. - The net profit after deducting non-recurring gains and losses was CNY 47.70 million, a decrease of 53.88% from CNY 103.42 million in 2020[22]. Operational Challenges - The company faced challenges such as raw material supply shortages and rising prices due to the ongoing pandemic, impacting production and sales[33]. - The company experienced a decline in inventory turnover, leading to increased cash outflows for inventory purchases[24]. - The company reported a loss of CNY 4.05 million from the disposal of non-current assets in 2021, compared to a loss of CNY 2.45 million in 2020[28]. - The pharmaceutical manufacturing industry is experiencing intensified competition and a reshuffling due to the pandemic and policy changes[39]. - The company is focusing on enhancing internal control management and governance levels in response to the challenges faced during the year[33]. Research and Development - The company emphasizes the importance of research and development in creating new products and improving existing ones, which is critical for maintaining competitive advantage[45]. - The company has over 30 invention patents and has been recognized as a national high-tech enterprise, indicating strong R&D capabilities[54]. - Research and development expenses amounted to CNY 37,290,482.52, reflecting a decrease of 2.92% compared to the previous year[78]. - The company has completed the research and development of multiple antibacterial drugs, including DB201904, DB202002, and DB202004, all classified as chemical drugs in category 4[101]. - The company has a total of 11 major research projects in various stages, including completed formulations and small-scale studies[101]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights and interests[144]. - The company has implemented a comprehensive insider information management system to prevent insider trading and protect minority shareholders' rights[152]. - The board of directors and supervisory board operate independently, with a focus on compliance and oversight of company operations[149]. - The company has not reported any significant differences in governance practices compared to regulatory requirements[153]. - The company has established a robust investor relations management system to maintain effective communication with investors[152]. Market Strategy - The company is focusing on enhancing product pipeline construction and optimizing production efficiency to reduce costs and improve product quality[91]. - The company aims to enhance production efficiency through the continuous improvement of production processes and adherence to industry regulations[45]. - The company is actively participating in the national drug procurement process, which is becoming a normalized and institutionalized practice[90]. - Future outlook includes plans to expand into international markets, targeting a 30% increase in overseas sales by 2023[96]. - The company plans to enhance its digital marketing efforts, with a projected increase in online sales by 50% in the upcoming year[96]. Risk Management - The company faces risks from increased competition in the raw materials and intermediates sector, particularly from emerging competitors in China and India[135]. - Regulatory changes in the pharmaceutical industry may impact operational costs and business models, posing a risk to the company's performance[136]. - The company is at risk of losing essential operating qualifications if it fails to renew necessary licenses and permits on time[137]. - Environmental regulations are tightening, which may increase compliance costs and impact profitability due to stricter standards[139]. - The company emphasizes safety production and has established multiple regulations, including a safety production responsibility system and fire management system, to mitigate risks associated with flammable and toxic materials[140].