欧林生物(688319) - 2021 Q4 - 年度财报

Financial Performance - The company reported a negative retained earnings balance as of the end of the reporting period, thus no profit distribution or capital reserve transfer to share capital for 2021[5]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges[4]. - The company's total revenue for 2021 was CNY 487,151,580.35, representing a 52.18% increase compared to CNY 320,109,157.13 in 2020[22]. - Net profit attributable to shareholders reached CNY 107,963,523.13, a significant increase of 198.82% from CNY 36,130,174.95 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 96,660,127.39, up 253.54% from CNY 27,340,876.22 in 2020[22]. - The net cash flow from operating activities increased by 89.49% to CNY 39,961,825.47, compared to CNY 21,089,134.24 in 2020[22]. - Total assets at the end of 2021 were CNY 1,211,880,833.86, an increase of 88.99% from CNY 641,257,275.27 in 2020[22]. - The net assets attributable to shareholders grew by 124.07% to CNY 844,658,320.30, compared to CNY 376,970,154.84 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 0.2804, a 182.95% increase from CNY 0.0991 in 2020[23]. - The company recognized government subsidies of CNY 9.59 million during the reporting period, which accounted for 8.88% of the total profit[77]. Research and Development - The company launched the AC combined vaccine, contributing to revenue growth during the reporting period[25]. - The R&D expenditure as a percentage of revenue was 12.94%, a slight decrease from 13.68% in 2020[23]. - The company has successfully completed the Phase II clinical trial summary report for its innovative Staphylococcus aureus vaccine, indicating good safety and immunogenicity, and has received multiple invention patents[34]. - The company has developed six core technologies, including polysaccharide-protein conjugation technology and gene engineering technology, which are crucial for vaccine innovation and production[47]. - The company is developing a recombinant Staphylococcus aureus vaccine, with a total investment of CNY 62,983,000 and current investment of CNY 6,737,010, currently in Phase II clinical trials[63]. - The company has established a mature R&D industrialization platform, with three vaccines already on the market and several others in various stages of development[68]. - The company has several projects in the preclinical research stage, including the Hib combined vaccine and the 23-valent pneumococcal polysaccharide vaccine[114]. - The company has established a research and development strategy that combines independent and collaborative efforts, focusing on both traditional and innovative vaccines[113]. - The company is focused on developing innovative vaccines to meet unmet medical needs, with a particular emphasis on upgrading traditional vaccines and creating new products with significant market potential[130]. Market and Product Development - The company plans to continue expanding its market presence and product offerings in response to the growing demand for vaccines[25]. - The global vaccine market size increased from $27.5 billion in 2016 to $36.5 billion in 2020, with a compound annual growth rate (CAGR) of 7.3%, and is expected to reach $136.7 billion by 2031[40]. - The company has three products on the market: Tetanus Toxoid Vaccine, Hib Combined Vaccine, and AC Combined Vaccine, with the AC-Hib combined vaccine pending production approval and the Staphylococcus aureus vaccine in clinical trials[37]. - The company has established a comprehensive quality management system covering the entire product lifecycle, including R&D, material procurement, production, quality assurance, and post-market surveillance[34]. - The company has implemented a dual-driven product development strategy focusing on "traditional vaccine upgrades and innovative vaccine development" to enhance its product pipeline[38]. - The company anticipates significant market potential for its core products, particularly the adsorbed tetanus vaccine and the recombinant Staphylococcus aureus vaccine[67]. Operational Risks and Compliance - The company has detailed various operational risks in the report, which investors should be aware of[4]. - The company has not disclosed any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any regulatory decision-making procedures for external guarantees[7]. - The company has received regulatory inspections three times and third-party certification inspections twice during the reporting period, demonstrating compliance with quality management standards[36]. - The company has implemented various internal control systems to ensure compliance with laws and regulations, including management of information disclosure and stock trading by executives[179]. Corporate Governance and Management - The company’s board of directors was fully present at the board meeting[5]. - The company held a total of 9 board meetings during the year, with 8 conducted via a combination of in-person and communication methods[156]. - The Audit Committee convened four meetings during the reporting period, approving key financial reports and the appointment of the auditing firm for 2021[159]. - The Compensation and Assessment Committee held two meetings, approving the remuneration for directors and the stock incentive plan for 2021[160]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board to ensure compliance with legal requirements[183]. Environmental and Social Responsibility - The company is listed as a key pollutant discharge unit, with major pollutants including chemical oxygen demand and ammonia nitrogen, all emissions have met the standards during the reporting period[185]. - The company has achieved compliance with all relevant environmental laws and has not faced any administrative penalties during the reporting period[193]. - The company has a dedicated environmental management department to oversee compliance with environmental regulations[197]. - The company has committed to enhancing its ESG practices and has integrated them into its corporate culture[183].