东阿阿胶(000423) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 3,848,985,686.56, representing a 12.89% increase compared to CNY 3,409,437,164.01 in 2020[12]. - The net profit attributable to shareholders for 2021 was CNY 440,439,963.60, a significant increase of 917.43% from CNY 43,289,251.31 in 2020[12]. - The net cash flow from operating activities reached CNY 2,800,902,528.25, marking a 249.75% increase from CNY 800,834,183.65 in the previous year[12]. - Basic earnings per share for 2021 were CNY 0.6800, an increase of 871.43% compared to CNY 0.07 in 2020[12]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 352,383,752.92 in 2021, compared to a loss of CNY 39,462,110.08 in 2020[12]. - The net profit attributable to the parent company reached CNY 440 million, up 917.43% year-on-year, primarily driven by a revenue increase of CNY 510 million and a gross margin improvement of 6.47 percentage points[23]. - The total comprehensive income for 2021 was CNY 645.32 million, compared to CNY 128.51 million in 2020, showing an increase of approximately 403.6%[170]. Assets and Liabilities - Total assets at the end of 2021 amounted to CNY 11,628,031,898.88, reflecting a 6.19% increase from CNY 10,950,024,729.95 at the end of 2020[13]. - The total equity attributable to shareholders rose to CNY 9,973,048,913.43, up from CNY 9,731,407,793.03, reflecting an increase of about 2.5%[162]. - The company's total liabilities reached CNY 1,632,660,857.08, compared to CNY 1,173,013,575.53 in the previous year, reflecting an increase of about 39.1%[161]. - The cash and cash equivalents increased significantly to CNY 3.25 billion in 2021, up from CNY 1.45 billion in 2020, representing a growth of approximately 124.4%[159]. Revenue Breakdown - The pharmaceutical industry segment contributed CNY 3.61 billion, accounting for 93.77% of total revenue, with a growth rate of 20.22%[24]. - Total revenue for the four quarters was approximately ¥3.84 billion, with the highest in Q3 at ¥1.14 billion[15]. - The East China region generated CNY 1.72 billion in revenue, representing 44.60% of total revenue, with a growth rate of 13.25%[25]. Research and Development - R&D expenses were CNY 147,749,402.42, a decrease of 3.83% from CNY 153,632,752.46 in 2020, representing 3.84% of operating revenue[38]. - The company is conducting several R&D projects, including clinical trials for the blood-replenishing effects of Ejiao, which aims to enhance brand influence and support market development[37]. - The company holds over 190 authorized invention patents and has participated in more than 30 national and provincial-level research projects[22]. Market Position and Strategy - The company is a leader in the production and sales of Ejiao products, with a focus on quality and customer experience[19]. - The brand has been recognized as the top OTC product and has won multiple national quality awards, enhancing its market position[19]. - The company has a strategic plan for expanding its product offerings, including over 40 reserve products in development[19]. - The company aims to expand its market presence through a multi-channel strategy, enhancing both online and offline customer engagement[51]. Governance and Compliance - The company emphasizes the importance of governance and compliance with regulations, ensuring independent operations from its controlling shareholder[56]. - The company has established four specialized committees under the board of directors: Strategic Committee, Nomination Committee, Audit Committee, and Compensation and Assessment Committee[57]. - The management team has a clear division of responsibilities, with all senior executives fulfilling their duties diligently to protect the interests of the company and its shareholders[58]. Cash Flow and Financial Management - The cash flow from operating activities generated a net amount of CNY 2.80 billion in 2021, compared to CNY 800.83 million in 2020, reflecting an increase of approximately 249.5%[172]. - The company reported cash inflows from investment activities totaling CNY 5.62 billion in 2021, a significant rise from CNY 1.96 billion in 2020[172]. - The company has maintained a consistent approach to financial management with no overdue receivables reported[118]. Risks and Challenges - The company faces long-term risks due to the decreasing value of donkey usage and a sharp decline in free-range populations, with challenges in breeding and disease prevention research remaining unresolved[50]. - Short-term risks include pressures for digital transformation, market confidence rebuilding, and ongoing issues with low-priced competition and counterfeit products in the ejiao market[50]. Environmental and Social Responsibility - The company strictly adheres to environmental protection regulations, with no administrative penalties reported during the reporting period[101]. - The company has implemented a self-monitoring plan for wastewater and air emissions, achieving a 100% compliance rate in monitoring and reporting[100]. - The company emphasizes social responsibility and actively collaborates with stakeholders to promote sustainable and healthy development[58].