JENKEM(SH:688356)2022-03-28 16:00Financial Performance - In 2021, the company's operating revenue reached ¥351,190,577.05, representing an increase of 88.18% compared to ¥186,622,625.68 in 2020[33]. - The net profit attributable to shareholders was ¥175,780,091.14 in 2021, up 105.16% from ¥85,678,928.62 in 2020[33]. - The net profit after deducting non-recurring gains and losses was ¥157,174,080.41, reflecting an increase of 89.74% compared to ¥82,834,678.71 in 2020[33]. - The net cash flow from operating activities was ¥118,234,668.15, a 51.16% increase from ¥78,220,725.99 in 2020[33]. - As of the end of 2021, the total assets amounted to ¥1,101,185,583.81, a 22.27% increase from ¥900,611,434.81 at the end of 2020[33]. - The net assets attributable to shareholders were ¥1,051,632,483.11, which is a 22.82% increase from ¥856,243,364.98 at the end of 2020[33]. - The basic earnings per share for 2021 were ¥2.93, representing a 71.35% increase from ¥1.71 in 2020[33]. - The comprehensive gross margin for the year was 85.21%, a decrease of 0.76 percentage points from the previous year[88]. - The company's total revenue for the reporting period increased by 88.18% year-on-year, driven by increased orders from domestic and international clients[36]. Research and Development - The R&D investment accounted for 15.37% of operating revenue, an increase of 1.28 percentage points from 14.09% in 2020[33]. - Research and development investment reached 53.97 million yuan, a 105.22% increase year-on-year, accounting for 15.37% of total sales revenue[45]. - The company submitted 17 new patent applications and obtained 12 new authorizations during the year[45]. - The company completed 21 process optimizations and developed 50 new structural derivatives during the reporting period[130]. - The number of R&D personnel increased to 58, representing 27.9% of the total workforce, up from 18.3% in the previous year[71]. - The company has filed 17 new invention patent applications and obtained 12 patents during the reporting period, bringing the total to 45 applications and 87 patents[63]. - The company is developing a PEGylated irinotecan project with a total investment of ¥76,500,000, currently in Phase II clinical trials[70]. - The company has established three core technology platforms to create a complete PEGylation technology ecosystem, targeting small molecule drugs, gene drugs, and medical devices[154]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[6]. - The company has not identified any special arrangements for corporate governance or significant matters affecting its operations[11]. - The governance structure includes a strategic committee, nomination committee, compensation and assessment committee, and audit committee to enhance decision-making[163]. - The company held a total of 4 shareholder meetings in 2021, including 1 annual meeting and 3 extraordinary meetings[162]. - The board of directors convened 9 meetings in 2021, ensuring compliance with legal regulations and internal rules[163]. - The supervisory board conducted 8 meetings in 2021, effectively overseeing the company's operations and financial status[163]. - The company disclosed significant information accurately and timely, maintaining transparency and protecting minority investors' interests[163]. - The company has established a comprehensive governance system to ensure the effective operation of the board and protect shareholder rights[163]. Market and Sales - The company's revenue mainly comes from the sales of PEG materials and related technical services, while self-developed PEG-modified drugs and Class III medical devices are still in preclinical or Phase II clinical research stages, generating no revenue yet[46]. - The company employs a direct sales model for both domestic and international markets, targeting well-known pharmaceutical companies and research institutions[50]. - The company's foreign sales revenue accounted for 52.88% of its main business income, with a foreign exchange loss of 2.14 million yuan reported during the period[86]. - The company's sales to the U.S. accounted for 60.34% of total sales, with potential impacts from U.S. trade protection policies and tariffs[86]. - The company achieved operating revenue of CNY 351.19 million, an increase of 88.18% compared to the same period last year[92]. - Domestic revenue was CNY 165.49 million, a 79.44% increase, primarily due to increased sales from major clients[99]. - International revenue reached CNY 185.70 million, a 96.73% increase, driven by stable order growth from overseas medical device clients[99]. Risks and Challenges - The company has outlined various operational risks and corresponding mitigation measures in the management discussion and analysis section[5]. - The company is exposed to risks related to international operations and potential changes in laws and regulations[79]. - The company faces risks related to the inability to meet customized client demands for polyethylene glycol derivatives[78]. - The company faced risks related to declining gross margins due to rising production costs and market competition[82]. - The company is advancing several innovative polyethylene glycol-modified drugs and medical devices, with ongoing R&D investments expected to impact profits[82]. Investment and Financial Management - The company plans to distribute a cash dividend of 8.79 RMB per 10 shares, totaling approximately 52,740,000 RMB, which represents 30% of the net profit attributable to shareholders for 2021[7]. - The total share capital for the dividend calculation is estimated at 60,000,000 shares, subject to adjustment based on the actual share capital on the dividend record date[7]. - The company reported a net cash outflow from investment activities of CNY 571.46 million, primarily due to significant capital expenditures on fixed and intangible assets[92]. - The company has implemented a cash management strategy using temporarily idle raised funds for financial products[188]. - The company plans to utilize temporarily idle raised funds for cash management, which will not affect the normal implementation of investment projects[196]. Strategic Initiatives - The company aims to enhance its technical innovation capabilities and maintain a leading position in the PEG-derived pharmaceutical industry by focusing on material innovation and exploring new application scenarios[152]. - The company plans to invest in R&D to strengthen its product development and technical service capabilities, with a focus on PEG-derived drugs and their applications in various fields[155]. - The company intends to expand its market presence by enhancing brand exposure and optimizing service processes in the pharmaceutical and medical device sectors[155]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its product portfolio[178].