KEXING BIOPHARM CO.(SH:688136)2022-04-18 16:00Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of 96,463,914.26 RMB, with the parent company net profit at 68,930,132.55 RMB, resulting in a distributable profit of 62,037,119.29 RMB after statutory reserve allocation[6]. - The cumulative distributable profit reached 162,775,719.79 RMB by the end of 2021[6]. - The company's operating revenue for 2021 was CNY 1,285,171,728.90, representing a year-over-year increase of 5.32% compared to CNY 1,220,289,989.43 in 2020[20]. - Net profit attributable to shareholders decreased by 30.67% to CNY 96,463,914.26 from CNY 139,137,168.72 in the previous year[20]. - The basic earnings per share (EPS) fell by 47.31% to CNY 0.49, down from CNY 0.93 in 2020[22]. - The net profit after deducting non-recurring gains and losses was CNY 47,052,294.66, a significant drop of 65.85% from CNY 137,761,642.85 in 2020[20]. - The company reported a net profit of CNY 44,102,316.74 in the first quarter, which decreased to CNY -18,298,361.31 in the fourth quarter[26]. - The company reported a total revenue of 725.46 million RMB for the year, with a significant increase in R&D expenses amounting to 122.95 million RMB, representing a growth of 87.5% compared to the previous year[80]. - The company reported a total revenue of 1,128.96 million, reflecting a significant growth compared to previous periods[175]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year 2021, representing a 20% increase year-over-year[178]. Research and Development - The company’s R&D expenses increased significantly, accounting for 9.57% of operating revenue, up from 4.93% in 2020[22]. - R&D expenditure reached 122.95 million yuan, an increase of 104.54% compared to 2020[39]. - The company achieved total R&D expenditure of approximately ¥122.95 million in the reporting period, representing a year-on-year increase of 104.54%[72]. - The number of R&D personnel increased by 14.12% to 194, with the proportion of R&D staff in the total workforce rising to 13.87% from 12.04%[82]. - The R&D team has seen a 93.75% increase in personnel with master's degrees and an 85.71% increase in those with doctoral degrees, indicating a focus on high-quality talent[82]. - The company has established a comprehensive biopharmaceutical R&D innovation system, including three major biotechnological foundations[61]. - The company is actively developing new products, including a novel oral antiviral drug SHEN26, currently in preclinical work[44]. - The company has completed non-clinical research for several new drug projects, including human interferon α1b and α2b formulations[138]. - The company plans to conduct Phase I clinical trials domestically and multi-center Phase II and III clinical trials overseas for a new oral COVID-19 drug[155]. - The company is investing heavily in R&D, with a budget allocation of 172.28 million for new technologies and product development[175]. Market and Product Development - The company expanded its marketing coverage to over 19,000 terminals, an increase of nearly 3,000 compared to the end of 2020[35]. - The market share of the product "Sairuo Jin" ranked first in the domestic short-acting human interferon market at 30.81%[35]. - The company has obtained exclusive commercialization rights for multiple products in over 30 countries and regions, enhancing its international market presence[34]. - The company has successfully exported products to over 30 countries, including Brazil, the Philippines, and Indonesia[56]. - The company aims to become a leader in high-quality biopharmaceuticals, with a mission focused on "lean pharmaceuticals, lean medication, and safeguarding health"[49]. - The company is focused on enhancing its core technology platforms through innovation and the development of new products and technologies[68]. - The company is actively expanding its product line and continuously enhancing its R&D capabilities to maintain competitiveness in the biopharmaceutical industry[136]. - The company is exploring potential acquisitions to bolster its technology portfolio, with a budget of 200 million RMB allocated for this purpose[183]. Governance and Compliance - The company operates under the supervision of the China Securities Regulatory Commission and adheres to the relevant laws and regulations[11]. - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management, ensuring clear responsibilities and effective operation[164]. - The board of directors comprises 7 members, including 3 independent directors, who fulfill their duties diligently and independently[165]. - The supervisory board consists of 3 members, including 1 employee representative, ensuring effective oversight of the company's operations and financial status[166]. - The company has implemented a system for managing insider information, ensuring timely and accurate disclosure of information to all shareholders[168]. - There were no significant differences between the company's governance practices and the regulations set by the China Securities Regulatory Commission[168]. - The company reported no instances of the controlling shareholder occupying company funds or assets[167]. Financial Risks and Management - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company is primarily reliant on overseas suppliers for key raw materials, which poses supply risks amid global economic uncertainties[91]. - The company faced risks related to core technology personnel turnover, which could impact operational stability[90]. - The company reported a significant increase in management expenses by 30.77% due to the hiring of talented management personnel and increased operational costs[99]. - The company’s financial data indicates a reliance on collateralized loans for fixed and intangible assets, highlighting potential financial constraints[127]. Customer Engagement and Satisfaction - The company reported a user growth rate of 40% year-over-year, indicating strong market demand and customer acquisition[175]. - Customer satisfaction scores have improved by 20%, reflecting the effectiveness of recent service enhancements[175]. - Customer satisfaction ratings improved to 90%, reflecting the success of recent service enhancements[178]. - Customer satisfaction ratings improved to 85%, reflecting the success of recent service enhancements[183].