贝瑞基因(000710) - 2018 Q4 - 年度财报

Business Transformation - The company reported a significant transformation in its main business from automotive parts to high-throughput sequencing-based genetic testing services and equipment sales since August 10, 2017[16]. - The company’s major shareholder changed from Chengdu Tianxing Instrument (Group) Co., Ltd. to Mr. Gao Yang following a major asset restructuring completed on August 10, 2017[16]. - The company’s main business has not formed a dependency on related party transactions, and these transactions followed fair and reasonable principles[144]. - The completion of significant asset restructuring did not alter the company's main business or actual controller[200]. Financial Performance - The company plans not to distribute cash dividends or issue bonus shares for the year[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[3]. - The company’s total revenue for the reporting period was approximately ¥1.44 billion, representing a year-on-year growth of 22.93%[59]. - The net profit attributable to shareholders for the reporting period was approximately ¥268 million, reflecting a year-on-year increase of 15.18%[59]. - The company reported a net profit attributable to ordinary shareholders of 268,091,948.88 CNY for 2018, which represents a significant increase compared to 232,749,588.92 CNY in 2017[118]. - The actual distributable profit at the end of 2018 was 58,396,746.63 CNY, indicating a healthy financial position[118]. - The company has not distributed any cash dividends in the past three years, maintaining a 0.00% dividend payout ratio[118]. Revenue and Growth - The company's operating revenue for 2018 was ¥1,439,789,044.56, representing a 22.93% increase compared to ¥1,171,191,341.13 in 2017[18]. - The genetic testing industry accounted for 100% of the total operating revenue, with medical testing services contributing ¥768,198,024.05, which is 53.35% of the total revenue, reflecting an 18.80% increase year-on-year[67]. - The company reported a significant increase in basic research service revenue, which rose by 152.35% to ¥131,438,054.53, accounting for 9.13% of total revenue[67]. - The company is focused on developing high-throughput sequencing technology for non-invasive genetic testing, aiming to provide comprehensive solutions for hereditary disease detection[58]. Research and Development - The company has a strong R&D team, having obtained 13 domestic and international patents, 34 software copyrights, and 83 registered trademarks[47]. - Total R&D investment reached ¥93,380,849.91 in 2018, a 131.92% increase from ¥40,263,807.54 in 2017, representing 6.49% of operating revenue[85]. - R&D expenses increased significantly by 172.00% to ¥91,279,260.87 in 2018 from ¥33,558,469.71 in 2017, attributed to a higher proportion of clinical trial projects[83]. - The company is focused on developing products for early cancer diagnosis and personalized cancer treatment using patented technologies[107]. Market Position and Strategy - The company has established a leading position in the genetic testing market, particularly in the NIPT project, leveraging its first-mover advantage and brand competitiveness[40]. - The company is currently constructing the first phase of its big data center industrial park, which is expected to optimize its production layout and improve its asset structure[44]. - The company aims to establish a comprehensive genetic testing industry chain, covering upstream instrument and reagent development, midstream genetic disease testing services, and downstream consulting and treatment services[107]. - The company plans to leverage its leading position in the gene testing industry to support the tumor business of Fujian and Rui, maximizing resource allocation[105]. Operational Efficiency - The company is implementing new strategies to improve operational efficiency, aiming for a 10% reduction in costs over the next year[123]. - The company has a professional sales team covering the entire country, facilitating the establishment of a large-scale clinical genetic testing network[52]. - The company is focused on reducing related party transactions and ensuring independence in operations and finances[120]. Shareholder and Governance - The company has maintained a stable shareholder structure with no significant changes reported[172]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, institutions, and finances[200]. - The company has a robust governance structure that aligns with regulatory requirements, ensuring transparency and accountability[198]. - The total pre-tax remuneration for the company's directors, supervisors, and senior management during the reporting period amounted to 3.963 million CNY, with independent directors receiving a total of 240,000 CNY[191]. Risks and Compliance - The company faces risks related to technological innovation delays, increased market competition, and potential fluctuations in product quality[111]. - The management emphasized the importance of compliance and risk management in their future strategies to mitigate potential financial losses[126]. - The company is focused on ensuring compliance with regulations regarding major asset restructuring and abnormal trading activities[122].