2022-03-27 16:00Financial Performance - Cansino Biologics reported a cash dividend of 8 RMB per 10 shares, totaling approximately 197.7 million RMB for distribution [4]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges [3]. - The company received a standard unqualified audit report from Deloitte Huayong [3]. - The company's operating revenue for 2021 reached CNY 4,299,702 thousand, a significant increase of 17,174.82% compared to CNY 24,890 thousand in 2020 [18]. - The net profit attributable to shareholders of the listed company was CNY 1,914,390 thousand in 2021, recovering from a loss of CNY 396,638 thousand in 2020 [18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,797,038 thousand, compared to a loss of CNY 511,332 thousand in the previous year [18]. - The net cash flow from operating activities was CNY 2,049,999 thousand, a recovery from a negative cash flow of CNY 349,934 thousand in 2020 [18]. - The total assets of the company increased to CNY 11,874,187 thousand at the end of 2021, representing a growth of 75.96% from CNY 6,748,073 thousand at the end of 2020 [18]. - The net assets attributable to shareholders of the listed company were CNY 7,995,046 thousand at the end of 2021, up 31.70% from CNY 6,070,854 thousand at the end of 2020 [18]. - The company reported a weighted average return on equity of 27.21%, a significant improvement from -13.49% in the previous year [19]. - The gross margin for vaccine products was 69.85%, with a year-on-year increase of 27.46 percentage points [82]. - The company achieved operating revenue of 4,299,702 thousand RMB, representing a year-on-year growth of 17,174.82% [78]. - The net profit attributable to shareholders was 1,914,390 thousand RMB, marking a turnaround from loss to profit [78]. - Total assets increased by 75.96% to 11,874,187 thousand RMB compared to the beginning of the year [78]. Research and Development - The company is focused on the development of various vaccines, including mRNA vaccines and inactivated vaccines, to enhance its product portfolio [17]. - Research and development expenses accounted for 21.05% of operating revenue, indicating a strong commitment to innovation [19]. - The company has 17 innovative vaccine products in its pipeline, targeting 12 indications, with several in clinical trial stages [26]. - The company has developed a pipeline of 17 innovative vaccines targeting 12 indications, including COVID-19, Ebola, meningitis, and tuberculosis [34]. - The company is in the preclinical research phase for several new vaccines, including mRNA COVID-19 and adenovirus vaccines [35]. - The company has established five major technology platforms for vaccine development, showcasing its advanced capabilities in the vaccine industry [50]. - The company reported a significant increase in research and development (R&D) expenditures, totaling CNY 904,910 thousand, a 111.14% increase compared to the previous year [58]. - The company’s total R&D investment accounted for 21.05% of its operating income [58]. - The company has made significant progress in developing various vaccines, including those for tuberculosis and other infectious diseases [51]. - The company is actively advancing clinical trials for its pipeline products, indicating a commitment to ongoing innovation and development [111]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies to increase its market share in the biopharmaceutical sector [17]. - The company has established a strong presence in the vaccine market, with ongoing research and development efforts aimed at expanding its product offerings [17]. - The company is enhancing its marketing and management systems to support product commercialization and brand image [33]. - The company is expanding its sales team and building a cold chain logistics network to ensure high-quality vaccine distribution [36]. - The company is focusing on the development of high-quality vaccines to replace imported products, with MCV4 being the first approved product in China using the CRM197 carrier protein [126]. - The company plans to enhance its digital marketing strategy, expecting a 25% increase in online sales as a result [135]. - The company aims to establish a marketing system primarily based on its own sales team, with potential partnerships to penetrate county-level markets [129]. Corporate Governance and Compliance - The board of directors confirmed the absence of significant risks that could adversely affect the company's operations [3]. - There are no special arrangements for corporate governance applicable to the company [6]. - The company has established a governance structure compliant with regulatory requirements, ensuring effective operation and accountability [130]. - The company has not reported any rejected proposals during the shareholders' meetings, indicating a consensus among shareholders [133]. - The company has established a fair and transparent promotion mechanism for employee career development [164]. - The company has implemented a registration management system for insider information to prevent insider trading [198]. Environmental and Social Responsibility - The company aims to achieve zero days of exceeding discharge standards for wastewater, focusing on reducing biochemical oxygen demand (BOD), chemical oxygen demand (COD), and ammonia nitrogen (NH3) [182]. - The company has not been listed as a key pollutant discharge unit and did not receive any administrative penalties for environmental issues during the reporting period [176][177]. - The company donated a total of 5.95 million CNY (approximately 0.95 million USD) for various charitable activities, including 5 million CNY for disaster relief in Henan province [187][188]. - The company adheres to the United Nations Sustainable Development Goals (SDGs) and emphasizes the importance of environmental protection and sustainable supply chain management [175]. Employee and Management - The workforce increased to 1,946 employees by the end of the reporting period, bolstering the company's operational and innovative capabilities [32]. - The company has a diverse workforce, including 804 production staff, 232 sales personnel, 309 R&D staff, and 283 management personnel [162]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 31,664,000 RMB [148]. - The company provides competitive compensation packages, including year-end performance bonuses and various benefits exceeding legal standards [163]. - The company has established a remuneration policy that adheres to relevant laws and provides social insurance and housing fund contributions [163]. Risks and Challenges - The management has highlighted potential risks associated with forward-looking statements regarding future plans and strategies [5]. - The company faces risks related to potential significant losses if R&D projects do not meet expectations or if new technologies emerge that could render its products obsolete [70]. - The ongoing COVID-19 pandemic presents uncertainties that could hinder the commercialization of related products [77]. - The company is exposed to foreign exchange risks related to overseas product exports, which could affect operational performance [73]. - The company faced competitive pressures from large multinational and domestic vaccine companies, which may impact future performance if product optimization and sales network enhancements are not maintained [72].