四环生物(000518) - 2022 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2022 was ¥270,149,197.60, a decrease of 23.03% compared to ¥350,961,775.85 in 2021[19]. - The net profit attributable to shareholders was a loss of ¥48,792,770.94, representing a decline of 40.25% from a loss of ¥34,789,910.35 in the previous year[19]. - The pharmaceutical business revenue was ¥258,841,543.69, reflecting a year-on-year decline of 11.15% due to medical reform policies[42]. - The company achieved a revenue of ¥270,149,197.60 in 2022, a decrease of 23.03% compared to the previous year[42]. - The net profit attributable to shareholders was -¥48,792,770.94, down 40.25% year-on-year[42]. - Total operating revenue decreased by 23.03% to ¥270,149,197.60 in 2022 from ¥350,961,775.85 in 2021[44]. - The pharmaceutical segment revenue increased by 12.80% to ¥258,841,543.69, accounting for 95.81% of total revenue[44]. - The company reported a total of 1,000 shares held by directors at the end of the reporting period, with no changes in holdings during the period[86]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥4,865,787.34, a rise of 3,026.02% compared to ¥155,654.35 in 2021[19]. - Cash and cash equivalents at the end of 2022 amounted to ¥28,180,123.4, representing 3.82% of total assets, down from 4.77% at the beginning of the year[61]. - Accounts receivable decreased to ¥100,116,017, accounting for 13.56% of total assets, a decline of 1.37% from the previous year[61]. - Inventory increased to ¥408,764,642, making up 55.38% of total assets, an increase of 1.50% compared to the beginning of the year[61]. - Total assets at the end of 2022 were ¥738,078,462.55, down 7.66% from ¥799,312,074.12 at the end of 2021[19]. - The company's total equity decreased from CNY 646.78 million in 2021 to CNY 593.50 million in 2022, reflecting a decline of about 8.2%[195]. - The total assets decreased from CNY 799.31 million in 2021 to CNY 738.08 million in 2022, a reduction of about 7.7%[195]. Research and Development - The company has 5 invention patents and 3 new drug certificates, indicating strong R&D capabilities[41]. - R&D investment decreased by 24.82% from 51,836,224.41 CNY in 2021 to 38,968,076.78 CNY in 2022, while the proportion of R&D investment to operating revenue slightly decreased from 14.77% to 14.42%[57]. - The number of R&D personnel increased by 7.14% from 28 in 2021 to 30 in 2022, with the proportion of R&D personnel in the total workforce rising from 11.02% to 14.35%[56]. - The company is developing a new type of recombinant human erythropoietin with a longer half-life and stronger biological activity, which is expected to enhance competitiveness in the long-acting protein market[55]. - The company is also advancing the clinical research of a new anti-cataract drug, which is anticipated to create a new revenue growth point upon market launch[55]. - The company has made significant progress in the development of a new formulation of calcitonin tablets for osteoporosis treatment, which is expected to enhance patient compliance and market penetration[56]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining an independent operational structure[79]. - The company’s board consists of six members, including three independent directors, ensuring compliance with legal requirements and promoting the interests of minority shareholders[80]. - The company has established an independent financial department and accounting system, ensuring financial decisions are made independently of the actual controller[83]. - The company has implemented measures to enhance product quality management, including optimizing production processes and improving inspection technologies to mitigate safety risks[72]. - The company has established a comprehensive governance structure to protect the rights of minority shareholders[119]. - The company has not conducted any investor communication activities during the reporting period, indicating a focus on internal management[76]. Market and Industry Outlook - The pharmaceutical industry in China is expected to continue steady growth in 2023, driven by ongoing healthcare reforms and increased demand for high-quality medical services[31]. - The company operates in a sector characterized by strong demand and low sensitivity to macroeconomic fluctuations, making it a defensive industry[31]. - The government has emphasized the importance of innovation in drug development and has implemented policies to support the pharmaceutical industry[33]. - The average price reduction for selected drugs in the sixth batch of national centralized procurement reached 48%, with some products seeing reductions over 70%[32]. Risks and Challenges - The company has highlighted potential risks in its future development outlook, which investors should be aware of[4]. - The company faces significant R&D risks due to the long cycles, high investment, and inherent uncertainties in drug development, necessitating scientific management of projects[72]. - The company is exposed to industry policy risks, including dynamic adjustments in the medical insurance catalog and procurement methods, which may adversely affect market share and revenue[72]. - The company is facing uncertainties due to evolving regulatory policies in the biopharmaceutical industry, which may impact operations[71]. - The company has a high inventory risk related to seedlings, with slow turnover impacting cash flow and overall financial health, prompting efforts to accelerate inventory consumption through government collaborations[74]. Employee and Management Information - The total number of employees at the end of the reporting period was 250, with 113 in production, 23 in sales, 74 in technical roles, 15 in finance, and 25 in administration[102]. - The company has no retired employees requiring pension expenses, indicating a focus on a younger workforce[102]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 202.79 million CNY[95]. - The company’s financial director, Xu Haizhen, received a pre-tax remuneration of 28 million CNY[95]. - The chairman and general manager, Guo Yu, received a pre-tax remuneration of 33 million CNY[95].