CABIO(SH:688089)2022-04-22 16:00Financial Performance - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2021 was CNY 351,109,348.43, representing an increase of 8.55% compared to 2020[20]. - The net profit attributable to shareholders of the listed company decreased by 1.54% to CNY 128,578,881.86 in 2021[20]. - The net cash flow from operating activities decreased by 29.20% to CNY 103,291,182.60 compared to the previous year[20]. - The basic earnings per share for 2021 was CNY 1.07, a decrease of 1.83% from 2020[21]. - The total assets at the end of 2021 were CNY 1,448,490,893.74, reflecting a 4.75% increase from the end of 2020[20]. - The company's net assets attributable to shareholders increased by 4.79% to CNY 1,381,023,990.59 at the end of 2021[20]. - The company reported a significant increase in revenue, achieving a total of 8,207 million RMB, with a net profit of 3,094.72 million RMB, indicating a significant increase compared to the previous period[91]. - The company reported a total revenue of 4,471,643 million, reflecting a significant growth of 873.80% compared to the previous year[172]. Research and Development - Research and development expenses accounted for 8.81% of operating revenue, an increase of 2.51 percentage points from 2020[21]. - The company’s R&D investment exceeded CNY 30 million in 2021, focusing on synthetic biology technology and collaborations with research institutions[36]. - Total R&D investment reached ¥30,947,095.88, a significant increase of 51.82% compared to ¥20,384,052.34 in the previous year, with R&D investment accounting for 8.81% of operating revenue[85]. - The company reported a significant increase in R&D activities, with a focus on innovative food ingredients and health-related products[81]. - The company has filed for numerous patents, enhancing its core technology capabilities and reducing product costs[78]. - The company aims to integrate existing technologies to continuously innovate in product development and application solutions[76]. Market Expansion and Strategy - The company plans to continue focusing on R&D and market expansion strategies to enhance future performance[22]. - The company is expanding its production capacity with ongoing projects in microencapsulation and microbial oil refining, enhancing operational efficiency[36]. - The company is focusing on international market expansion, particularly in Australia and Southeast Asia, to capture a larger share of the global ARA and DHA markets[155]. - The company aims to achieve over 100 million in sales for its Omega-3 fatty acid product line in 2022, leveraging diverse strains and enhancing process technology to reduce costs[157]. - The company is exploring market expansion strategies, aiming to penetrate new geographical regions and increase market share[172]. Product Development - The company established a new business unit for animal nutrition and launched 8 new feed or feed additive products during the reporting period[34]. - New product developments include OPO and fucoidan lactose, which have completed pilot studies and are moving towards industrialization[77]. - The company is expanding its market presence through the development of new products, including a refined microbial oil and a new type of polyunsaturated fatty acid oil[81]. - The company is focusing on expanding its product offerings in the baking sector with new formulations that include DHA microcapsules[81]. - The company introduced a new subscription model, which is anticipated to increase recurring revenue by 20% over the next year[184]. Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management team[6]. - The company has no significant differences in governance compared to regulations set by the China Securities Regulatory Commission[164]. - The company’s governance structure remains compliant with relevant laws and regulations, ensuring no major conflicts of interest with controlling shareholders[165]. - The company held a total of 8 board meetings during the year, with 3 conducted via communication methods[192]. Industry Trends and Risks - The biotechnology industry is recognized as a strategic emerging industry in China, with government support for biotechnological advancements and sustainable practices[45]. - The nutrition and health industry is rapidly growing in China, driven by increasing consumer health awareness and an aging population, positioning China as a major player in the global nutrition market[46]. - The company faces risks related to food safety and product quality control, which are critical in the infant formula sector[106]. - The company is exposed to raw material price volatility, which could negatively impact production costs and profitability[108]. - The company is navigating risks from intensified market competition and potential adverse changes in downstream industries[109]. Customer and Supplier Relationships - The company’s top five customers accounted for 72.38% of total sales, with no sales to related parties[127]. - The top five suppliers contributed to 43.78% of total purchases, with no purchases from related parties[128]. - Total procurement amount from top 5 suppliers reached 2,053.45 million RMB, accounting for 43.78% of annual procurement[130]. - The company has formed long-term stable partnerships with renowned infant formula companies such as Nestlé and Danone, with some collaborations lasting over 10 years[103]. Sustainability and Innovation - The company is committed to sustainability by developing methods for producing food-grade sialic acid and other health-oriented ingredients[81]. - The company aims to improve resource and energy utilization efficiency while promoting sustainable industry development[88]. - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 30% by 2025[182]. - The company is enhancing its smart manufacturing capabilities to achieve a green production model, incorporating automation and digitalization into its production processes[155].