Vazyme(SH:688105)2022-04-21 16:00Financial Performance - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling approximately 12,000.30 million RMB, which represents 17.69% of the net profit attributable to shareholders for the year 2021[7]. - The company has not achieved profitability since its listing, indicating ongoing investment in growth and development[5]. - The company reported a significant increase in revenue, reaching 1.2 billion RMB, representing a 25% year-over-year growth[22]. - The company's operating revenue for 2021 was approximately ¥1.87 billion, representing a year-over-year increase of 19.44% compared to ¥1.56 billion in 2020[33]. - Net profit attributable to shareholders decreased by 17.46% year-over-year to approximately ¥678 million, down from ¥822 million in 2020[32]. - The net profit after deducting non-recurring gains and losses fell by 20.90% to approximately ¥644 million from ¥814 million in the previous year[32]. - The company's total assets increased by 185.87% year-over-year to approximately ¥4.61 billion, compared to ¥1.61 billion at the end of 2020[33]. - The net assets attributable to shareholders grew by 209.77% year-over-year to approximately ¥4.13 billion, up from ¥1.33 billion in 2020[33]. - Basic earnings per share decreased by 19.05% to ¥1.87 from ¥2.31 in 2020[35]. - The net cash flow from operating activities decreased by 23.24% to approximately ¥617 million, down from ¥804 million in 2020[33]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 12.33%, up from 8.02% in the previous year, indicating a rise of 4.31 percentage points[35]. - R&D investment totaled ¥23,032.15 million, an increase of 83.47% compared to the previous year[180]. - R&D investment accounted for 12.33% of total revenue, up by 4.31 percentage points from 8.02% in the previous year[180]. - The company has launched over 200 new products covering life sciences, biomedicine, and in vitro diagnostics, with 652 R&D personnel accounting for 27.39% of the total workforce, and over 50% of R&D staff holding a master's degree or higher[136]. - The company has developed over 800 terminal products and 62 types of POCT diagnostic reagents, with 42 products obtaining Chinese medical device registration[198]. - The company has successfully developed 10 new products and obtained 3 invention patents in the real-time fluorescence quantitative PCR enzyme raw material development project, with a total investment of 187 million yuan[185]. - The company has completed the development of a new coronavirus variant detection antibody, achieving high sensitivity for all variants, with a total investment of 300 million yuan[185]. - The company has developed a complete mRNA quality analysis method and established a platform for mRNA vaccine development, enhancing its response capabilities for customer needs[163]. - The company has expanded its R&D team to 652 members, a year-on-year increase of 56.73%[50]. - The company has filed for 62 new patents, including 37 invention patents and 9 utility model patents, during the reporting period[164]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[22]. - The company is focusing on expanding its product offerings and optimizing customer service experience to increase market share in the life sciences sector[57]. - The company has established a sales network covering over 2,200 medical institutions, including hospitals and third-party testing centers[58]. - The company has established a sales system combining distribution and direct sales to expand its international market presence[64]. - The company is actively pursuing partnerships and collaborations to further its market expansion and product development strategies[173]. - The company is focusing on market expansion through new product launches and strategic partnerships to enhance its competitive position[179]. - The company has established a marketing strategy focused on "embedding R&D to address pain points," aiming for long-term partnerships with clients[64]. - The company has received regulatory approvals for various test kits, enhancing its market presence and product offerings[169]. Product Development and Innovation - New product launches included a novel antibody testing kit, expected to contribute an additional 200 million RMB in revenue[22]. - The company has developed over 800 types of biological reagents, with applications in scientific research, high-throughput sequencing library construction, molecular diagnostics, and animal quarantine, serving over 1,000 research institutions and 1,400 high-throughput sequencing service companies[54]. - The company has developed a series of multi-indicator detection products, including three cardiac markers (hscTnT/CK-MB/MYO) and two inflammation markers (PCT/IL-6), which meet clinical demands for high-quality testing products[159]. - The company has developed POCT diagnostic reagents across eight series, including cardiovascular, inflammation, reproductive health, gastric function, autoimmune, renal function, chronic disease management, and respiratory diseases, enhancing early diagnosis capabilities[78]. - The company has developed over 200 customized enzymes through its protein engineering platform, achieving international advanced levels in enzyme activity, catalytic efficiency, stability, specificity, and tolerance[150]. - The company has developed a comprehensive solution for COVID-19 detection, including core enzymes and antibody raw materials, with products sold in over 30 countries and regions[136]. - The company has launched multiple diagnostic test kits, including the Heart-type Fatty Acid Binding Protein Test Kit and Myoglobin Test Kit, approved in March 2017[169]. - The company has developed a range of quality control products and calibration standards to ensure the accuracy of its diagnostic tests[169]. Regulatory Compliance and Quality Management - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of its financial statements[6]. - The company has obtained 105 medical device registration certificates, including 78 for Class II and Class III medical devices, and has applied for overseas market access for over ten COVID-19 testing products in around 200 countries[58]. - The company has strengthened its quality management system and optimized production processes to enhance product quality[67]. - The company has established a technology innovation center in collaboration with Fudan University, focusing on high-throughput sequencing library preparation quality standards[157]. - The company has achieved CE certification for its subsidiary, Novozan Medical, indicating compliance with European health and safety standards[174]. Industry Trends and Market Outlook - The global life sciences research funding increased from $116.6 billion in 2015 to $151.4 billion in 2019, with a CAGR of 6.7%[1]. - The global biological research reagent market size reached $12.8 billion in 2015 and grew to $17.5 billion in 2019, with a CAGR of 8.1%[1]. - The molecular diagnostics market in China grew from 3.1 billion RMB in 2015 to 8.4 billion RMB in 2019, with a CAGR of 28.5%, and is projected to reach 23.8 billion RMB by 2024, representing a CAGR of 23.2% from 2019 to 2024[146]. - The aging population and the rise of chronic diseases are expected to further boost the demand for in vitro diagnostic products and biomedicine[144]. - The overall market outlook remains positive, with expectations for continued growth driven by increased healthcare demand[179].