Novoprotein(SH:688137)2023-04-26 16:00Financial Performance - Operating revenue for 2022 was ¥264,553,718, a decrease of 22.62% compared to ¥341,895,855 in 2021[21]. - Net profit attributable to shareholders was ¥90,416,734, down 39.32% from ¥149,005,616 in the previous year[21]. - Basic earnings per share decreased by 57% to ¥1.59 from ¥3.73 in 2021[23]. - The net cash flow from operating activities dropped significantly by 95.24% to ¥3,376,641 from ¥70,966,537 in 2021[21]. - The net profit after deducting non-recurring gains and losses was ¥77,596,888, a decrease of 47.88% from ¥148,869,293 in 2021[21]. - The company reported a significant increase in net assets attributable to shareholders, rising by 511.33% to ¥2,199,386,246.43 from ¥359,772,635.07 in 2021[22]. - The quarterly operating revenue for Q4 2022 was ¥51,923,824.83, showing a decline compared to previous quarters[25]. - In 2022, the company achieved operating revenue of RMB 264.55 million, a year-on-year decrease of 22.62%, and a net profit attributable to the parent company of RMB 90.42 million, with a decrease of 47.88% in net profit after deducting non-recurring gains and losses[34]. - The company reported a total revenue of 1.2 billion in 2022, representing a year-over-year growth of 15%[165]. - The company provided guidance for 2023, expecting revenue to grow by 10% to 1.32 billion[165]. Dividend Policy - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares, totaling RMB 35,087,719.50, which accounts for 38.8% of the net profit attributable to shareholders for 2022[6]. - The company does not plan to issue bonus shares or convert capital reserves into share capital for the 2022 fiscal year[6]. - The company has a cash dividend policy that emphasizes a stable and reasonable return to investors, with a minimum cash distribution of 30% of the average distributable profit over the last three years[186]. - In mature stages without major capital expenditure, the cash dividend proportion should be at least 80% of the profit distribution[186]. - The company has not proposed any cash profit distribution plan during the reporting period despite having positive distributable profits[190]. Market and Competition - The company faces risks of revenue decline in its mRNA raw enzyme and diagnostic antibody businesses due to industry cycle impacts and uncertainties in the mRNA vaccine sector[4]. - The recombinant protein and related technology service market is expanding, but increased competition from new entrants may pressure the company's market position[5]. - The company anticipates further market competition as more players enter the recombinant protein industry, which may impact market share and pricing strategies[125]. - The company is focused on advancing mRNA technology platforms, including new delivery systems and adjuvants, to enhance vaccine efficacy[50]. - The company aims to expand its market presence through strategic collaborations and technological advancements in mRNA production[51]. Research and Development - Research and development expenses accounted for 15.54% of operating revenue, an increase of 56 basis points from 9.97% in 2021[23]. - The company established a professional R&D team of 235 members, contributing to continuous product and technology innovation[39]. - The company has developed 23 core technologies related to protein design, modification, and production, showcasing its advanced capabilities in the field[85]. - The company is actively enhancing its R&D investment in mRNA-related products and technologies to improve vaccine development services[149]. - The company has developed high-quality mRNA production key raw materials, including T7 RNA polymerase and mRNA Cap 2'-O-methyltransferase, which have reached international advanced levels[109]. Operational Efficiency - The company emphasizes internal control and management optimization, enhancing its operational efficiency and compliance with business processes[40]. - The production process adheres to ISO9001:2015 and ISO13485:2016 quality management systems, ensuring product quality and stability[59]. - The company has established a complete quality management system, ensuring product safety and stability through rigorous quality control measures[115]. - Operating expenses were reduced by 5% due to improved operational efficiencies[165]. - The company has implemented a comprehensive quality control system for large-scale production of recombinant proteins and antibodies[54]. Strategic Initiatives - The company successfully listed on the Sci-Tech Innovation Board on September 29, 2022, raising a net amount of RMB 1.74 billion for R&D, industrialization, and marketing network development[34]. - The company completed a strategic acquisition for 200 million, enhancing its product portfolio[165]. - The company is exploring potential acquisitions to bolster its product portfolio, with a budget of $100 million allocated for this purpose[168]. - The company has established partnerships with over 100 vaccine production clients, including Watson Bio and Livanda Bio, to ensure quality and supply of mRNA raw materials[51]. Employee and Governance - The company has a total workforce of 675 employees, a year-on-year increase of 32.47%, with 22.86% holding a master's degree or higher[39]. - The company emphasizes talent development, collaborating with renowned universities and research institutions to cultivate a skilled R&D team[116]. - The company has established a governance framework that includes a board of directors and various committees to ensure compliance and effective decision-making[155]. - The total remuneration for directors, supervisors, and senior management is determined based on internal management regulations and industry standards[173]. - The company has established specialized committees under the board, including the audit committee, nomination committee, remuneration and assessment committee, and strategic committee[176]. Risks and Challenges - The company acknowledges potential risks related to inventory management and the possibility of product obsolescence due to market changes[5]. - The company faces risks related to the potential decline in sales from its non-COVID business segments if it fails to achieve scale in other areas[118]. - The company is exposed to risks from changes in tax policies that could affect its preferential tax rate of 15% for high-tech enterprises[123]. - The company reported a significant reliance on a few major customers, with over 50% of sales attributed to a single customer[139]. Environmental and Social Responsibility - The company has established environmental protection mechanisms and complies with relevant laws and regulations, including the Environmental Protection Law of the People's Republic of China[196]. - There were no administrative penalties due to environmental issues during the reporting period[195]. - The company emphasizes employee rights protection, ensuring timely payment of social insurance and promoting employee training and career development[200].