NUCIEN PHARMA(SH:688189)2022-04-29 16:00Financial Performance - In 2021, the company achieved operating revenue of 684.68 million yuan, a decrease of 37.08% compared to the previous year[4]. - The operating profit was -221.33 million yuan, a decline of 259.58% year-on-year[4]. - The total profit amounted to -221.56 million yuan, down 256.95% from the previous year[4]. - The net profit attributable to shareholders was -166.89 million yuan, representing a decrease of 225.50% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -178.99 million yuan, a reduction of 242.99% compared to the previous year[4]. - The company's operating revenue for 2021 was approximately ¥684.68 million, a decrease of 37.08% compared to ¥1.09 billion in 2020[23]. - The net profit attributable to shareholders for 2021 was a loss of approximately ¥166.89 million, a decline of 225.50% from a profit of ¥132.98 million in 2020[23]. - The basic earnings per share for 2021 was -¥1.1920, down 217.65% from ¥1.0132 in 2020[23]. - The company's total profit for the year was CNY -221.56 million, a decrease of 256.95% compared to the previous year[33]. - The company reported a net cash flow from operating activities of -63,111,275.75 RMB, an improvement from -290,839,050.88 RMB in the previous year[89]. Research and Development - The company has 21 new products under development, with 2 innovative drug candidates identified and 3 projects in clinical research[34]. - The company applied for 25 new invention patents and obtained 6 new authorized invention patents during the reporting period, totaling 30 authorized patents[34]. - Research and development expenses accounted for 15.03% of operating revenue, an increase of 5.10 percentage points from 9.93% in 2020[23]. - The company’s R&D costs increased due to the pandemic, affecting the progress of clinical trials[33]. - The company is focusing on both innovative and generic drugs to enhance its product line and risk resilience[34]. - The company has established a comprehensive R&D model with dedicated research platforms and partnerships with leading third-party research institutions[42]. - The company has made significant progress in R&D, focusing on both innovative and generic drugs, with a commitment to enhancing its position in the influenza treatment market[47]. - The company has developed three high-success-rate, practical, low-cost, and fast drug molecule design and discovery technologies, forming a core platform for lead compound design and discovery[55]. - The company has a core technology for chiral drug synthesis and quality control, focusing on controlling impurities and ensuring chiral purity in the final products[58]. - The company has a total of 74 patent applications, with 34 patents granted as of December 31, 2021[60]. Market and Sales - The decline in performance is consistent with industry trends, influenced by factors such as the ongoing COVID-19 pandemic and national drug procurement policies[4]. - The company is expanding its marketing network to mitigate the impact of COVID-19 on its product sales[36]. - The company has established a nationwide marketing network covering 30 provinces, enhancing service to end customers and supporting new drug commercialization[75]. - The company is focusing on enhancing its product lines in oncology and cardiovascular diseases, with several innovative drug candidates and generic drug applications in progress[40]. - The company aims to expand its market presence by deepening its sales channels in city and county hospitals, targeting new growth points[147]. Risk Management - The company has disclosed potential risks in the "Management Discussion and Analysis" section of the report[5]. - The company is exposed to risks related to R&D failures and the lengthy drug approval process, which may affect future product launches[79]. - The company is exposed to macroeconomic risks due to ongoing changes in national pharmaceutical policies, which could affect market dynamics and pricing strategies[85]. - The company faced significant impacts from the COVID-19 pandemic, leading to reduced demand for its core product, "Liwei" (Palivizumab Sodium Injection)[76]. Corporate Governance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and senior management, ensuring checks and balances among these entities[152]. - The board of directors consists of eight members, including four independent directors, with a three-year term and a cumulative voting system for transparency in the election process[153]. - The supervisory board is composed of four members, including two employee representatives, ensuring compliance with legal requirements and effective oversight of the company's financials[154]. - The company has implemented a comprehensive internal control system to ensure effective management and oversight, preventing any tendencies of "insider control"[155]. - The company adheres to strict information disclosure regulations, ensuring that all shareholders have equal access to information, thereby enhancing transparency[155]. Financial Strategy - The company plans to issue shares and pay cash to acquire assets, which is expected to improve financial conditions and enhance profitability in the long term[139]. - The company has a cash dividend policy that mandates a minimum of 10% of distributable profits to be distributed as cash dividends if there are no major investment plans[190]. - The proposed profit distribution plan for 2021 is not to distribute cash dividends, nor to issue bonus shares or convert capital reserves into share capital[191]. Operational Efficiency - The company has effectively managed its subsidiaries, improving overall operational efficiency and risk resistance[196]. - The company received a standard unqualified opinion on the effectiveness of its internal control over financial reporting for the year 2021[197]. - The company is actively preparing for the election of a new board of directors and supervisory board, with plans to complete the elections and fulfill disclosure obligations promptly[198].