Jiangsu (SH:688426)2023-04-25 16:00Financial Performance - In 2022, the company achieved a net profit attributable to shareholders of RMB 159,258,880.74, with a distributable profit of RMB 172,983,356.83 by the end of the year[5]. - The proposed profit distribution plan includes a cash dividend of RMB 5.20 per 10 shares, totaling RMB 48,631,945.96, which accounts for 30.54% of the net profit[5]. - The company has not yet achieved profitability since its listing[6]. - The company reported a total revenue of RMB 1.5 billion for the fiscal year 2022, representing a year-over-year growth of 20%[14]. - The company's operating revenue for 2022 was CNY 521.6 million, representing a year-on-year increase of 54.11% compared to CNY 338.5 million in 2021[24]. - The net profit attributable to shareholders for 2022 was CNY 159.3 million, a 26.55% increase from CNY 125.8 million in 2021[24]. - The basic earnings per share for 2022 was CNY 2.16, a 20.00% increase from CNY 1.80 in 2021[25]. - The total assets at the end of 2022 reached CNY 1.95 billion, a 200.58% increase from CNY 648.8 million at the end of 2021[24]. - The net assets attributable to shareholders increased by 224.72% to CNY 1.78 billion at the end of 2022, compared to CNY 548.3 million at the end of 2021[24]. - The company reported a net cash flow from operating activities of CNY 107.4 million for 2022[24]. Research and Development - Research and development investments increased by 40%, focusing on next-generation sequencing technologies[15]. - Research and development expenses for 2022 totaled 74.02 million yuan, an increase of 91.83% compared to the previous year[38]. - The R&D team expanded to 185 members, a 40.15% increase from the previous year, with 71.35% holding master's degrees or higher[39]. - The company has developed 122 types of molecular detection raw enzymes, including Taq polymerase and high-fidelity PCR enzymes, with performance levels meeting or exceeding imported products[45]. - The company has established a comprehensive fluorescence quantitative molecular platform and a second-generation sequencing reagent R&D system for its nucleic acid detection kits[198]. Product Development and Innovation - The company plans to introduce a new point-of-care testing (POCT) product line in Q2 2023, aiming for a 15% contribution to total revenue[15]. - The company has launched several molecular diagnostic kits, including the first Class III registration certificate for Helicobacter pylori nucleic acid detection based on fecal samples, filling a gap in the industry[52]. - The company has developed a non-invasive prenatal trace gene testing kit, achieving a product launch with a market demand of 450 million[116]. - The company is focusing on the development of specific detection reagents and dedicated instruments to improve diagnostic effectiveness[83]. - The company has developed a series of alternative reagents for nucleic acid mass spectrometry, which are more cost-effective than imported products and reduce operational steps and detection time[97]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[16]. - The company is actively pursuing market expansion through the introduction of new diagnostic kits, such as the Monkeypox Virus Nucleic Acid Detection Kit, registered in June 2022[106]. - The company is collaborating with international giants and research institutions to leverage resources and expand its global market presence in molecular detection[83]. - The company is strategically positioned for future growth, leveraging its intellectual property and expanding its market presence both domestically and internationally[99]. Risk Management - The company has disclosed potential risk factors that may adversely affect its operations in the management discussion section[4]. - The company faces risks related to the slow progress and high costs of new product development, which may lead to potential failures in obtaining necessary registrations[129]. - The company is at risk of losing core technical personnel due to intense competition for talent in the molecular detection field[129]. - The company’s core technology and proprietary techniques are at risk of leakage if not effectively managed, which could adversely affect operations[129]. Compliance and Quality Assurance - The audit report issued by the accounting firm was a standard unqualified opinion[6]. - The company has ensured the accuracy and completeness of the annual report, with all board members present at the meeting[6]. - The company follows ISO9001:2015 and ISO13485:2016 quality management systems in its R&D processes, ensuring compliance and quality assurance[57]. Sales and Distribution - The company utilizes a "direct sales primarily, with distributors as a supplement" sales model, ensuring high cash return rates from direct sales to research institutions and medical testing labs[61]. - The company has established a sales network with five domestic sales regions and one international sales region, including marketing offices in ten cities such as Beijing, Shanghai, and Guangzhou[61]. - The company achieved overseas sales revenue of 33.45 million yuan, accounting for 6.41% of total sales during the reporting period[130]. Financial Position and Assets - Cash and cash equivalents at the end of the period reached ¥1,031,534,445.52, accounting for 52.90% of total assets, a significant increase of 707.03% compared to the previous period[163]. - The total procurement amount from the top five suppliers was 34.57 million, representing 17.62% of the annual total procurement, with no purchases from related parties[157]. - The company reported a significant increase in accounts payable to ¥44,070,076.95, which is 2.26% of total liabilities, reflecting a 148.21% increase driven by larger procurement volumes[165].