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[39] - The net profit attributable to shareholders was -¥34,789,910.35, representing a decline of 227.46% year-on-year[39] - The company reported a net profit of -29,014,372 yuan for its subsidiary Beijing Sihuan Biological Pharmaceutical Co., Ltd., indicating a significant loss[73] - The company reported a net loss of CNY 497.83 million in 2021, compared to a net loss of CNY 463.04 million in 2020, indicating a worsening financial position[196] 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 operations in its report[5] - The company faces risks from the ongoing COVID-19 pandemic, which may impact production operations and increase costs[75] - The pharmaceutical industry is experiencing intensified competition due to increasing government support and regulatory changes[75] - The company is exposed to litigation risks related to securities false statements, with ongoing lawsuits that may impact future profits[77] Research and Development - The company holds 5 invention patents and 3 new drug certificates, indicating a strong focus on R&D[38] - Research and development expenses increased by 27.35% year-on-year, amounting to 51,836,224.41 yuan[55] - The company is developing a new long-acting recombinant human erythropoietin, which aims to enhance market competitiveness[56] - The company has applied for an invention patent for a new calcitonin tablet, which is currently in the formulation and process research stage[56] - The number of R&D personnel increased by 75% from 16 in 2020 to 28 in 2021, with the proportion of R&D personnel rising from 5.56% to 11.02%[57] - R&D investment amounted to ¥51,836,224.41 in 2021, a 27.35% increase from ¥40,704,876.05 in 2020, representing 14.77% of operating revenue, up from 8.05%[57] Inventory and Procurement - The inventory of white介素 surged by 91.69% year-on-year, primarily due to a decline in sales[46] - The inventory of G-CSF increased by 46.48% year-on-year, attributed to a rise in production based on sales volume[47] - The company has a diverse procurement strategy, combining centralized and decentralized purchasing methods to ensure material supply[34] - The sales volume of Interleukin was 2,444,283 units, a decrease of 14.63% year-on-year[45] - The sales volume of EPO increased by 18.96% year-on-year, reaching 6,579,974 units, while production volume rose by 17.43% to 6,627,380 units[46] Governance and Compliance - The company has established a governance structure to protect the rights of minority shareholders, ensuring equal rights for all shareholders, particularly small and medium-sized shareholders[120] - The company emphasizes timely, truthful, and accurate information disclosure to protect the rights of all stakeholders, enhancing transparency and credibility[121] - The company has implemented a robust investor relations management system, ensuring accurate and timely communication with all investors[82] - The company has completed the rectification of issues identified in the special governance action as required by regulatory authorities[80] - The company has not experienced any significant discrepancies between its governance practices and regulatory requirements[82] Financial Management - The company has established independent financial departments and accounting systems, ensuring financial decisions are made independently of the actual controller[83] - The internal control system has been effectively established and executed, with no significant deficiencies reported during the period[110] - The internal control self-assessment report indicates that 100% of the total assets of the evaluated units are included in the consolidated financial statements[112] - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2021[114] - The company has not engaged in any significant asset or equity sales during the reporting period[69] Market Position and Strategy - The company is focused on the production and sales of biopharmaceutical products, including innovative cancer treatments, which are critical for future growth[32] - The company is positioned in a defensive sector with strong demand characteristics, making it less susceptible to economic fluctuations[30] - The company aims to consolidate and enhance market share for its core products, including Delu Sheng and Xin Li Sheng, while exploring new business and product opportunities[75] - The company is actively managing product quality risks by optimizing production processes and enhancing quality management[76] - The company is adapting to industry policy changes to improve operational efficiency and manage market risks[76] Shareholder Information - The company has a total of 1,000 shares issued, with no changes reported in the number of shares[86] - The first major shareholder, Wang Hongming, holds 144,138,394 shares, accounting for approximately 14.41% of the total shares[160] - The second major shareholder, Yu Qinfeng, holds 104,318,725 shares, representing about 10.43% of the total shares[160] - The company has a total of 43,000,000 shares pledged by the first major shareholder, Wang Hongming, which is 80% of his holdings[164] - The company reported no changes in its controlling shareholder during the reporting period[162] Legal and Regulatory Issues - The company faced administrative penalties from the China Securities Regulatory Commission for information disclosure violations, which led to the identification of related party relationships and transactions as key audit matters[183] - Senior management faced disciplinary actions for violations of information disclosure regulations, with public reprimands issued on April 7, 2021[136] - The company is involved in several ongoing litigations, with a total amount in dispute of approximately CNY 26,577.84 million, including cases related to false statements[134]