四环生物(000518) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥350,961,775.85, a decrease of 30.56% compared to ¥505,399,427.19 in 2020[19] - The net profit attributable to shareholders in 2021 was -¥34,789,910.35, representing a decline of 227.46% from a profit of ¥27,295,103.63 in 2020[19] - The net cash flow from operating activities was ¥155,654.35, down 99.84% from ¥100,233,420.61 in the previous year[19] - The basic earnings per share for 2021 was -¥0.0338, a decrease of 227.55% compared to ¥0.0265 in 2020[19] - Total assets at the end of 2021 were ¥799,312,074.12, a decrease of 2.96% from ¥823,707,532.72 at the end of 2020[19] - The net assets attributable to shareholders decreased by 5.43% to ¥606,033,621.98 at the end of 2021 from ¥640,823,532.33 at the end of 2020[19] - In 2021, the company achieved total revenue of ¥350,961,775.85, a decrease of 30.56% compared to the previous year[40] - The net profit attributable to shareholders was -¥34,789,910.35, representing a decline of 227.46% year-on-year[40] Operational Challenges - The company reported a significant decline in both net profit and operating revenue, indicating potential challenges in its business operations[19] - The company has acknowledged risks related to its future development and ongoing operational uncertainties[5] - The company faces risks from the ongoing COVID-19 pandemic, which may impact production operations and increase costs related to materials and logistics[76] Revenue Sources and Market Position - The company’s main revenue source is from pharmaceutical sales, which is part of the growing healthcare expenditure in China, projected to reach ¥7.23 trillion by 2020[30] - The compound annual growth rate (CAGR) of healthcare spending in China from 2010 to 2020 was 13.71%, indicating a robust market opportunity for the pharmaceutical industry[30] - The pharmaceutical segment generated revenue of ¥291,331,416.65, down 5.66% from the previous year, accounting for 83.01% of total revenue[41] Research and Development - The company is focused on innovative drug development, aligning with national policies that encourage research and development in the pharmaceutical sector[31] - The company is advancing several R&D projects, including a new long-acting recombinant human erythropoietin, aimed at enhancing market competitiveness[57] - R&D investment rose by 27.35% to ¥51,836,224.41 in 2021, representing 14.77% of operating revenue, up from 8.05% in 2020[58] - R&D personnel increased by 75% from 16 in 2020 to 28 in 2021, accounting for 11.02% of total employees[58] Inventory and Cost Management - The inventory of white blood cell growth factor (G-CSF) increased by 46.48% year-on-year, attributed to increased production based on sales volume[48] - The cost of raw materials for white blood cell growth factor (G-CSF) decreased by 8.81% to 4,164,927.19 CNY, accounting for 51.47% of the total operating costs[50] - The company reported a 27.11% decrease in the cost of raw materials for interleukin, totaling 4,361,695.22 CNY, which represented 47.33% of the operating costs[50] Governance and Compliance - The company has established a comprehensive governance structure to protect the rights of minority shareholders and ensure compliance with relevant laws and regulations[121] - The board of directors consists of six members, including three independent directors, and operates in accordance with relevant regulations, ensuring the protection of minority shareholders' rights[82] - The company has completed the rectification of issues identified in the special governance action as required by regulatory authorities, ensuring compliance with governance standards[81] - The company has established an independent financial department and accounting system, ensuring independent financial decision-making and tax compliance[84] Legal and Regulatory Matters - The company is currently involved in a lawsuit related to securities false statements, which may have uncertain implications for future profits[78] - The company has faced regulatory scrutiny, receiving penalties for information disclosure violations, impacting its operations[182] - Several senior management personnel received disciplinary actions for violations related to information disclosure, with public reprimands issued on April 7, 2021[137] Shareholder Information - The total number of shares is 1,029,556,222, with 100% being unrestricted shares[157] - Major shareholders include Wang Hongming with 14.00% and Yu Qinfeng with 10.13% of the shares[160] - The company has 118,246 shareholders at the end of the reporting period[160] Financial Audit and Reporting - The company has received a clean audit opinion from Zhongshun Yatai Accounting Firm, confirming that the financial statements fairly reflect its financial position as of December 31, 2021[173] - The audit report confirmed no significant misstatements in the financial statements, ensuring compliance with auditing standards[185] - The domestic accounting firm appointed for the audit is Zhongshen Yatai CPA, with an audit fee of 1.4 million RMB for the year[133]