申联生物(688098) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was ¥253.81 million, a decrease of 7.75% compared to ¥275.14 million in 2018[20]. - The net profit attributable to shareholders for 2019 was ¥77.96 million, down 10.99% from ¥87.58 million in 2018[20]. - The basic earnings per share for 2019 was ¥0.21, a decline of 19.23% from ¥0.26 in 2018[21]. - The cash flow from operating activities for 2019 was ¥53.81 million, a significant drop of 55.57% compared to ¥121.13 million in 2018[20]. - In 2019, the company achieved sales revenue of 254 million RMB, a decline of only 7.75% compared to 2018, despite the overall industry facing a 21.6% decrease in pig slaughter volume due to African swine fever[44]. - The company reported a net profit of ¥10.03 million from non-recurring gains and losses in 2019, compared to ¥5.38 million in 2018[24]. - The company achieved sales revenue of 254 million yuan in 2019, a decrease of 7.75% compared to 2018, with a net profit of 77.95 million yuan, down 10.99% year-on-year[78]. Research and Development - The company's R&D expenditure as a percentage of operating revenue increased to 10.47% in 2019, up 2.73 percentage points from 7.74% in 2018[21]. - The total R&D investment for the reporting period was approximately ¥26.56 million, accounting for 10.47% of the company's revenue[58]. - The company has filed for 7 invention patents, 3 design patents, and 4 utility model patents during the reporting period, demonstrating its commitment to innovation[52]. - The company has established multiple core technology platforms, including synthetic peptide vaccine technology, inactivated vaccine technology, and virus-like particle vaccine technology, enhancing its competitive edge in the industry[48]. - The company has a total of 63 R&D personnel, representing 21.21% of the total workforce, indicating a strong focus on research and development[58]. - The R&D team comprises 63 members, accounting for 21.21% of the total workforce, with expertise in various relevant fields[72]. - The company is focusing on the development of multivalent and multi-target vaccines to reduce the number of vaccinations required for livestock, addressing new demands in vaccine research[46]. Market Position and Products - The company specializes in the R&D, production, and sales of veterinary biological products, primarily focusing on foot-and-mouth disease vaccines[27]. - The company maintained a market share of 62.79% in the domestic pig foot-and-mouth disease peptide vaccine market in 2018, ranking first in this segment[43]. - The company is one of only two enterprises in China with registration certificates for both the bivalent inactivated vaccine and the bivalent synthetic peptide vaccine for foot-and-mouth disease[32]. - The company launched the only currently marketed bivalent peptide vaccine for pig foot-and-mouth disease (O type and A type) in 2019, which helped mitigate the negative impact of the African swine fever outbreak[44]. - The company has established stable long-term relationships with suppliers to ensure a sufficient and stable supply of raw materials[33]. - The company is actively seeking partnerships for the research and development of African swine fever vaccines due to high technical barriers[144]. Risks and Compliance - The company emphasizes the importance of understanding the risks associated with forward-looking statements regarding future business plans and strategies[7]. - The company faces risks related to increased competition and the need for continuous R&D investment to maintain its market share and user base[84]. - The company faces risks related to environmental protection compliance, as it operates in a heavily regulated industry[92]. - The company is at risk of not achieving expected returns from its fundraising investment projects due to potential changes in industry policies and market conditions[96]. - The company has committed to avoiding competition and reducing related party transactions as part of its governance strategy[154]. - The company has not reported any false records or misleading statements in its financial disclosures, ensuring transparency and accuracy in its reporting[157]. Governance and Shareholder Relations - The company plans to distribute a cash dividend of 0.8 RMB per 10 shares to all shareholders, based on the total share capital on the record date for the distribution plan[6]. - The cash dividend policy stipulates that at least 20% of the distributable profit should be distributed as cash dividends when conditions permit[148]. - The company has a history of cash dividends, with a distribution of 0.8 RMB per share in 2019, amounting to approximately 32.78 million RMB, representing 42.04% of the net profit attributable to ordinary shareholders[152]. - The company has established a long-term commitment to transparency and accountability among its executives and board members[159]. - The company will actively promote profit distribution and cash dividends to enhance shareholder returns, in compliance with relevant regulations[173]. - The company has committed to fulfilling all public commitments made during its initial public offering and listing on the Sci-Tech Innovation Board[174]. Production and Capacity Expansion - The company aims to enhance its vaccine production capabilities, with an initial capacity of 125 million doses expected in 2020[136]. - The company plans to invest RMB 868.1 million in the "Suspended Culture Inactivated Foot-and-Mouth Disease Vaccine Project" over a 6-year construction period, with an expected annual average sales revenue of RMB 502.85 million post-production[135]. - The company is steadily advancing the Lanzhou branch's "Suspended Culture Inactivated Foot-and-Mouth Disease Vaccine Project," aiming to launch the first production line within the year, which is expected to produce approximately 125 million doses of the vaccine[145]. - The company plans to industrialize diagnostic reagents for African swine fever and foot-and-mouth disease, contributing to its product diversification strategy[145]. - The company is focused on expanding its production capacity and product lines to support future growth and market demands[145]. Financial Management and Investments - The company has engaged Da Hua Accounting Firm for auditing services at a fee of RMB 400,000 for a two-year term[187]. - The company has invested in the construction of a bio-safety animal facility, increasing the in-progress construction value by 32.14% to 354,217,119.17 yuan[116]. - The company has engaged in various wealth management products, with a total investment of 288.9 million CNY from self-owned funds and 300 million CNY from raised funds[195]. - The company achieved a maximum single-day balance of 60 million CNY in structured wealth management products with an annualized return of 4.23%[197]. - The company has not reported any overdue amounts in its wealth management investments[195].