Guobang Pharma (SH:605507)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was CNY 4.505 billion, an increase of 7.11% compared to CNY 4.206 billion in 2020[26]. - The net profit attributable to shareholders for 2021 was CNY 706 million, a decrease of 12.84% from CNY 810 million in 2020[26]. - The net cash flow from operating activities for 2021 was negative CNY 176 million, a decrease of 122.95% compared to CNY 767 million in 2020[26]. - The total assets increased by 36.39% to CNY 7.513 billion in 2021 from CNY 5.509 billion in 2020[27]. - The net assets attributable to shareholders increased by 93.79% to CNY 6.346 billion in 2021 from CNY 3.275 billion in 2020[27]. - The basic earnings per share for 2021 was CNY 1.38, a decrease of 19.30% from CNY 1.71 in 2020[26]. - The company achieved operating revenue of 4,505.35 million RMB, an increase of 7.11% compared to the same period last year[79]. - Operating costs amounted to 3,147.62 million RMB, reflecting a 13.39% increase year-on-year[81]. - The net profit attributable to the parent company was 706.03 million RMB, a decrease of 12.84% compared to the previous year[79]. - Research and development expenses increased to 155.27 million RMB, up 13.18% from the previous year[81]. Risk Management and Governance - The company has confirmed that there are no significant risks that could materially affect its operations during the reporting period[9]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[9]. - The company has outlined potential risk factors and countermeasures in its management discussion and analysis section[9]. - There are no violations of decision-making procedures regarding external guarantees during the reporting period[9]. - The company has established a governance structure that complies with legal requirements, ensuring independent operation of the board of directors and supervisory board, with no non-operational occupation of funds by controlling shareholders[166]. - The company has implemented a risk management mechanism to monitor foreign exchange rate changes and employs forward foreign exchange contracts to minimize risks associated with currency fluctuations[164]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company’s financial report has been declared to be true, accurate, and complete by its responsible persons and accounting heads[6]. - The company confirmed the internal control self-assessment report and the implementation of related party transactions for 2020, along with expected transactions for 2021[198]. - The Audit Committee held 4 meetings during the reporting period, reviewing key financial reports and confirming the appointment of the auditing firm for 2021[198]. Research and Development - The company invested 1.55 million CNY in R&D in 2021, accounting for 3.45% of its total revenue, and received 34 patent applications during the year[42]. - The company has 50 controlled R&D projects, with 9 collaborative projects, indicating a strong focus on innovation and research[42]. - The company applied for 34 patents during the reporting period and received 17 authorized patents, all of which are invention patents[123]. - The company's R&D investment amounted to 47,921.63 million RMB, representing 5.36% of operating revenue and 9.47% of net assets[131]. - The company has increased R&D investment and is forming a reasonable R&D team through recruitment and training, ensuring leading R&D work and developing a gradient of R&D and reserve projects[160]. Market and Product Strategy - The company implemented a product strategy focusing on multi-variety replication and appropriate extension of the industrial chain[38]. - The company aims to enhance its global market presence and product offerings, continuing to develop high-value and high-growth products by 2025[47]. - The company is actively pursuing market expansion in developing countries, particularly in Southeast Asia and Africa, leveraging its product quality and competitive pricing[70]. - The company has established a sales network covering 115 countries and regions, with over 3,000 customers globally[70]. - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[179]. Environmental and Safety Investments - The company’s safety and environmental protection investments totaled 216 million CNY in 2021, emphasizing its commitment to sustainable development[45]. - The company is committed to environmental protection and has increased investments in green production in response to stricter regulations and policies related to carbon neutrality[162]. Shareholder and Executive Compensation - The total pre-tax compensation for all directors and supervisors during the reporting period amounted to 16.1075 million yuan[177]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 16.1075 million yuan[188]. - The total number of shares held by the chairman, Qiu Jiajun, remained unchanged at 54,852,971 shares, with a pre-tax compensation of 2.1486 million yuan for the reporting period[177]. - The total number of shares held by director Zhu Yaqing remained unchanged at 7,452,666 shares, with a pre-tax compensation of 1.7552 million yuan for the reporting period[177]. - The total number of shares held by the vice president, Lv Fangfang, remained unchanged at 1,740,302 shares, with a pre-tax compensation of 2.0683 million yuan for the reporting period[177]. Production and Capacity Expansion - The company is expanding its production capacity with a new project to produce 40,000 tons of liquid sodium borohydride annually, enhancing its supply capabilities significantly[52]. - The company has established modern production bases in two national industrial parks, achieving international certifications including FDA and EUGMP[51]. - The company has over 2,450 acres of factory land across three bases, with significant development space in national industrial parks[62]. - The company has successfully completed the trial production of the first phase of the strong streptomycin project, which is expected to become one of the major products in the future[53]. Sales and Revenue Breakdown - The pharmaceutical segment reported revenue of ¥2,959,421,609.16 with a gross margin of 30.25%, a decrease of 6.58 percentage points year-over-year[1]. - The animal health segment achieved revenue of ¥1,533,498,778.87, with a gross margin of 29.49%, an increase of 2.29 percentage points year-over-year[1]. - The revenue from domestic sales was ¥2,598,318,091.57, with a gross margin of 31.96%, reflecting a decrease of 0.86 percentage points year-over-year[1]. - The revenue from overseas sales was ¥1,894,602,296.46, with a gross margin of 27.28%, a decrease of 7.92 percentage points year-over-year[1].