广济药业(000952) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 688,169,323, a decrease of 5.90% compared to CNY 731,340,517 in 2019[18]. - The net profit attributable to shareholders was CNY 74,647,103.8, down 14.14% from CNY 86,943,194.9 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 38,645,048.4, a decline of 24.26% from CNY 51,022,090.0 in 2019[18]. - The cash flow from operating activities was CNY 119,381,525, representing a decrease of 17.21% compared to CNY 144,200,478 in 2019[18]. - Basic earnings per share were CNY 0.2232, down 21.44% from CNY 0.3500 in the previous year[18]. - The total operating revenue for 2020 was ¥688,169,323.69, a decrease of 5.90% compared to ¥731,340,517.94 in 2019[51]. - The net profit attributable to shareholders was 74.65 million, down 14.14% year-on-year[38]. - Operating profit was 96.84 million, reflecting a slight decrease of 2.06% compared to the previous year[39]. - The net profit for 2019 was CNY 20,066,663.1, with a profit distribution ratio of 23.08%[108]. Assets and Equity - The total assets at the end of 2020 were CNY 1,979,438,635.76, an increase of 12.05% from CNY 1,766,508,421.42 in 2019[18]. - The net assets attributable to shareholders increased by 42.97% to CNY 1,373,075,553.04 from CNY 960,377,290.08 in 2019[18]. - The company's total share capital as of December 31, 2020, was 346,995,039 shares, after deducting 2,995,100 shares repurchased[109]. - The company's available distributable profit for 2020 was CNY 697,653,593.31[109]. Revenue Breakdown - The pharmaceutical manufacturing sector accounted for 100% of the total operating revenue, with raw material products contributing ¥539,923,362.29 (78.46%) and formulation products contributing ¥109,027,978.59 (15.84%)[51]. - Domestic revenue decreased by 10.55% to ¥417,833,793.04, while international revenue increased by 2.31% to ¥270,335,530.65[51]. - The sales volume of high-content riboflavin products increased by 22% year-on-year, while the sales of riboflavin phosphate sodium products rose by 16%[44]. Research and Development - The company has established a biotechnology research institute to enhance R&D capabilities in "biological synthesis" and "chemical synthesis" fields[28]. - The company holds 27 domestic and international patents, including 16 for its main product, riboflavin, demonstrating a strong focus on innovation[33]. - R&D expenses decreased by 27.90% to 38.77 million, primarily due to the completion of certain product upgrades[39]. - The company completed clinical BE experiments for two new products: Amino Acid Tablets and Entecavir Tablets, and produced qualified products for Pyridoxal Phosphate and VB12 projects[61]. Investment and Financing - The company successfully raised 364 million through a private placement, marking a significant milestone in capital market operations[38]. - The company raised ¥859,362,484.77 through financing activities, a 36.05% increase compared to the previous year[63]. - The total amount of raised funds in 2020 was CNY 35,810.3 million, with CNY 15,939.3 million utilized so far, representing 44.52% of the total[79]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares, totaling approximately 20.64 million CNY, representing a cash dividend payout ratio of 27.65%[103]. - For the 2019 fiscal year, the cash dividend was 0.70 CNY per 10 shares, totaling approximately 20.07 million CNY, with a payout ratio of 23.08%[103]. Compliance and Governance - The company did not disclose any significant undisclosed information during the investor communications, ensuring compliance with regulations[100]. - The company adheres to legal regulations to protect shareholder and creditor rights, enhancing investor recognition[144]. - There were no significant accounting errors requiring retrospective restatement during the reporting period[119]. Environmental and Social Responsibility - The company donated a total of 2 million yuan to the Wuxue municipal government to support COVID-19 prevention efforts[149]. - The company has invested 63.44 million yuan in poverty alleviation projects, focusing on agricultural and tourism development[155]. - The company has actively engaged in environmental protection initiatives, upgrading technology and eliminating high-energy-consuming equipment[148]. - The company completed a waste gas treatment project with a total investment of approximately 2 million yuan, which has a capacity of 20,000 m³/h[161]. Risk Management - The company faces risks from industry policy changes, including drug procurement and medical insurance reforms, which may impact its operations[95]. - Fluctuations in raw material prices pose a risk to the company's cost structure, prompting it to strengthen market monitoring and strategic reserves[95]. - The company acknowledges the risk of increased R&D costs due to stricter regulations, leading to potential delays or failures in drug development[96].