JYPC(SZ:002198)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was CNY 659,195,732.41, representing a 14.70% increase compared to CNY 574,713,387.08 in 2021[20]. - Net profit attributable to shareholders reached CNY 43,934,703.72, a significant increase of 2,874.05% from CNY 1,477,269.72 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 43,973,457.47, up 15,489.86% from CNY 282,064.41 in 2021[20]. - Basic earnings per share rose to CNY 0.0866, a 2,886.21% increase from CNY 0.0029 in 2021[20]. - Total assets at the end of 2022 were CNY 846,650,977.26, reflecting a 4.87% increase from CNY 807,337,692.89 at the end of 2021[20]. - The company's net assets attributable to shareholders increased by 6.42% to CNY 728,418,014.50 from CNY 684,483,310.78 in 2021[20]. - The net cash flow from operating activities decreased by 47.58% to CNY 27,154,401.73 from CNY 51,800,132.35 in the previous year[20]. - The company achieved total revenue of ¥659,195,732.41 in 2022, representing a year-on-year growth of 14.70%[77]. - Net profit for the year was ¥43,934,703.72, showing a significant increase of 2,874.05% compared to the previous year[77]. - The company generated a net cash flow from operating activities of ¥27,154,401.73[77]. Market and Industry Trends - The overall pharmaceutical industry in China saw a decline in revenue by 1.6% in 2022, while the traditional Chinese medicine sector experienced a revenue growth of 5.6%[36]. - The total healthcare expenditure in China reached CNY 75,593.6 billion in 2021, with a year-on-year growth of 9.82%[33]. - By the end of 2022, the number of people covered by basic medical insurance in China was approximately 1.35 billion, maintaining a coverage rate of over 95%[35]. - The pharmaceutical industry in China is characterized by strong demand due to factors such as economic growth, population aging, and expanded medical insurance coverage[43]. - The aging population in China is increasing, with 264 million people aged 60 and above, representing a 42.7% growth since 2010, creating a significant demand for healthcare services[60]. Research and Development - The company has focused on the research and development of traditional Chinese medicine products, aligning with national health policies promoting traditional medicine[30]. - The R&D expenses of A-share listed companies before 2017 reached CNY 6.151 billion in the first three quarters of 2022, with a year-on-year growth of 12.67%[41]. - The R&D expense ratio for these companies was 2.46% in 2022, indicating a continuous increase in R&D investment intensity[41]. - The company applied for and obtained 3 new utility model patents in 2022 to support its research and development efforts[84]. - The company completed major R&D projects, including the development of the "Jiegu" series products, aimed at enhancing market share and clinical precision[95]. Regulatory Environment - The management highlighted potential risks including industry policy changes and concentrated leading products[3]. - The company plans to enhance its quality control and management practices in response to regulatory changes aimed at ensuring drug safety and quality[58]. - The State Administration for Market Regulation has introduced a new classification for TCM registration, focusing on innovative and improved TCM products[54]. - The company is closely monitoring national policy directions and enhancing internal management to improve operational efficiency and resilience against policy risks[122]. Corporate Governance - The company has no controlling shareholder and operates independently in terms of business, personnel, assets, and finance[134]. - The board of directors consists of 7 members, including 3 independent directors, which complies with legal and regulatory requirements[135]. - The company has established a performance evaluation and incentive mechanism for its directors and senior management, ensuring transparency in appointments[137]. - The company respects and protects the rights of stakeholders, aiming for a balance of interests among all parties involved[139]. - The company has implemented various communication channels with shareholders, including phone calls and online meetings[133]. Environmental Responsibility - The company adheres to multiple environmental protection laws and industry standards, including the GB37823-2019 for air pollutants[182]. - The total emissions of nitrogen oxides from the company are within the limit of 150 mg/m³, with actual emissions recorded at 52-60 mg/m³[185]. - The company has a centralized wastewater discharge system with no reported exceedances in discharge standards[185]. - The company has increased its investment in environmental protection, focusing on wastewater and solid waste treatment, as well as maintenance and upgrades of pollution control facilities[194][195]. Employee Welfare and Management - The total number of employees at the end of the reporting period is 732, with 381 in the parent company and 351 in major subsidiaries[167]. - The company emphasizes employee training, focusing on enhancing overall capabilities and specific skills for middle and senior management[170]. - The company conducts regular health check-ups for workshop employees and provides necessary labor protection supplies and training to enhance safety awareness[199]. - The company has established a system for employee rights protection, including a workers' representative assembly to address issues related to wages, benefits, and labor safety[199].