新华制药(000756) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was RMB 6,005,586,643.46, representing a 7.13% increase compared to RMB 5,606,020,863.30 in 2019[18]. - The net profit attributable to shareholders of the listed company was RMB 324,859,557.55, an increase of 8.30% from RMB 299,966,265.71 in the previous year[18]. - The total assets at the end of 2020 reached RMB 7,092,952,190.04, reflecting a 10.21% increase from RMB 6,436,024,609.48 at the end of 2019[18]. - The total liabilities increased by 11.31% to RMB 3,701,662,448.12 from RMB 3,325,495,154.66 in 2019[18]. - The net cash flow from operating activities was RMB 420,186,808.35, which is a 20.65% increase from RMB 348,271,406.17 in the previous year[18]. - The basic earnings per share for 2020 was RMB 0.52, an increase of 8.33% from RMB 0.48 in 2019[18]. - The company reported a net profit excluding non-recurring gains and losses of RMB 290,790,007.23, which is a 12.47% increase from RMB 258,555,194.68 in 2019[18]. - The total operating revenue for 2020 was approximately RMB 6.01 billion, with quarterly revenues of RMB 1.71 billion, RMB 1.58 billion, RMB 1.35 billion, and RMB 1.37 billion respectively[19]. - The net profit attributable to shareholders for 2020 was approximately RMB 324 million, with quarterly profits of RMB 86 million, RMB 86 million, RMB 74 million, and RMB 79 million respectively[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 291 million for 2020, with quarterly figures of RMB 79 million, RMB 76 million, RMB 62 million, and RMB 74 million[19]. - The net cash flow from operating activities for 2020 was approximately RMB 420 million, with quarterly cash flows of RMB 105 million, RMB 96 million, RMB 202 million, and RMB 17 million[19]. - The company received government subsidies amounting to approximately RMB 39.33 million in 2020, slightly down from RMB 40.95 million in 2019[21]. - The total revenue for the year ended December 31, 2020, was RMB 6,005,587 thousand, an increase of 7.13% compared to 2019[131]. - Net profit attributable to shareholders for the same period was RMB 324,860 thousand, reflecting an 8.30% growth year-over-year, with basic earnings per share at RMB 0.52[131]. - The sales revenue from chemical raw materials was RMB 2,565,565 thousand, up 7.45% year-on-year, driven by proactive market expansion[149]. - Revenue from pharmaceutical intermediates and others reached RMB 834,413 thousand, marking a significant increase of 33.41% due to enhanced e-commerce efforts[149]. - The company's total revenue for the year ended December 31, 2020, was RMB 6,005,587 thousand, representing a year-on-year increase of 7.13%[149]. - The net capital debt ratio is 25.96%, defined as net debt divided by adjusted capital[172]. Shareholder Information - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares, based on a total of 627,367,447 shares[9]. - The total number of shares as of December 31, 2020, was 621,859,447, with 99.998% being freely tradable shares[26]. - The largest shareholder, Hualu Holdings Group Co., Ltd., held 32.94% of the shares, totaling 204,864,092 shares[29]. - The largest shareholder, Hualu Holdings Group Co., Ltd., holds 204,864,092 shares, representing a significant portion of the company's equity[31]. - The top ten unrestricted shareholders collectively hold a total of 263,000,000 shares, indicating a concentrated ownership structure[31]. - The company had a total of 32,904 shareholders as of December 31, 2020, including 46 H-share shareholders[28]. - A dividend of RMB 0.12 per share was distributed to shareholders based on a total of 621,859,447 shares, completed in early August 2020[189]. Research and Development - R&D investment increased by 29.18% year-over-year, with the establishment of new research platforms and the approval of 237 product re-registration applications[133]. - The company plans to increase R&D investment by over 10% in 2021, focusing on new drug development in pain control, cardiovascular, and oncology areas[138]. - The company is committed to research and development in new products and technologies, aiming for market expansion and innovation[36]. - Research and development expenses for 2020 were RMB 298,347 thousand, an increase of 26.74% year-on-year, indicating a strong commitment to innovation[154]. - The company has over 100 products in development, supported by a comprehensive research and development system and multiple innovation platforms[186]. Market Presence and Strategy - The company is actively involved in the pharmaceutical and chemical industries, focusing on investment and management operations[33]. - The company has established a strong presence in both domestic and international markets, with subsidiaries in Europe and the United States[36]. - The company aims to leverage its international cooperation center to accelerate international registration and marketing efforts, targeting markets in Southeast Asia and along the Belt and Road Initiative[141]. - The company intends to enhance its market development strategies by focusing on brand, technology, and quality advantages in response to national procurement policies[137]. - The company is focusing on digital transformation and the establishment of a comprehensive data management platform to enhance operational efficiency[142]. - The company plans to continue expanding its market presence in the animal health sector and is actively launching pet medication projects[142]. Governance and Management - The board of directors includes experienced professionals with extensive backgrounds in the pharmaceutical sector, enhancing governance and strategic direction[36][37]. - The company has a diverse management team with backgrounds in medicine, law, and engineering, enhancing its operational capabilities[46][47][48]. - The company has maintained a stable leadership structure, with many executives having served since at least 2010[50]. - The company emphasizes the importance of board member diversity and has adopted a policy to ensure a diverse range of skills, experiences, and perspectives among its directors[99]. - The board is committed to maximizing shareholder value and has established clear responsibilities and procedures to ensure effective governance[94]. - The company has established a performance evaluation and incentive mechanism for senior management, focusing on work performance and adherence to board resolutions[77]. - The company has a strong emphasis on compliance and legal affairs, with several executives holding legal qualifications[44][45]. - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations throughout the reporting period[75]. Internal Control and Audit - The audit committee confirmed that the financial statements for 2020 were prepared in accordance with the relevant accounting standards and accurately reflected the company's financial position[70]. - The internal control evaluation report indicates that 99.15% of total assets and 96.02% of total revenue were included in the evaluation scope[81]. - The company reported no significant internal control deficiencies during the evaluation period, achieving its internal control objectives[81]. - The internal control audit report issued by the accounting firm confirmed the effectiveness of financial reporting internal controls as of December 31, 2020[84]. - The board of directors is responsible for ensuring the establishment and effective implementation of internal controls, with the supervisory board overseeing this process[79]. - The company has established a mechanism for monitoring internal control deficiencies and will take corrective actions immediately upon identification[79]. - The internal control evaluation was conducted based on guidelines issued by the Ministry of Finance and other regulatory bodies[80]. - The audit committee has been established in accordance with Listing Rule 3.21, consisting of three independent non-executive directors, with Lu Huawai as the chairman[109]. Employee Information - The total number of employees as of December 31, 2020, was 6,497, with a total salary expenditure of RMB 583.86 million[60]. - The employee distribution by function includes 3,743 production personnel, 1,017 sales personnel, and 543 engineering technical personnel[61]. - The employee education level distribution shows 1,302 employees with a university degree or above[61]. - The company completed 61 training programs in 2020, with a total of 3,900 participants and 400 individuals sent for external training[62]. - The total remuneration for directors, supervisors, and senior management in 2020 amounted to RMB 13.33 million[56]. - The remuneration for the highest-paid director, Zhang Daiming, was RMB 1.46 million in 2020[56]. - The company does not bear any costs for retired employees[61]. Subsidiary Performance - The total revenue for the subsidiary Zibo Xinhua-Baili Pharmaceutical Co., Ltd. was RMB 217,518 thousand, with a net profit of RMB 36,517 thousand, remaining stable compared to the previous year[173]. - Shandong Xinhua Pharmaceutical Trading Co., Ltd. reported total revenue of RMB 2,150,653 thousand, with a net profit of RMB 321 thousand, a decrease of 54.62% due to increased tax expenses[174]. - Shandong Xinhua Pharmaceutical Import and Export Co., Ltd. achieved total revenue of RMB 226,940 thousand, with a net profit of RMB 8,038 thousand, an increase of 38.25% driven by market opportunities[175]. - Xinhua Pharmaceutical (Shouguang) Co., Ltd. reported total revenue of RMB 777,661 thousand, a decrease of 6.17%, while net profit slightly increased to RMB 43,103 thousand[176]. - Shandong Xinhua Health Technology Co., Ltd. generated revenue of RMB 379,872 thousand and a net profit of RMB 9,695 thousand[177]. - Shandong Xinhua Pharmaceutical (Europe) Co., Ltd. reported total revenue of RMB 197,663 thousand, with a net profit of RMB 9,418 thousand, an increase of 31.73%[178]. - Xinhua Pharmaceutical (Gaomi) Co., Ltd. achieved total revenue of RMB 46,256 thousand, an increase of 21.83%, with a net profit of RMB 990 thousand, up 34.24%[179]. - Shandong Xinhua Pharmaceutical (USA) Co., Ltd. reported total revenue of RMB 41,556 thousand, with a net profit of RMB 1,685 thousand, an increase of 35.33%[180]. - Shandong Xinhua Wanbo Chemical Co., Ltd. achieved total revenue of RMB 112,872 thousand, with a net profit of RMB 8,903 thousand, an increase of 20.75%[182].