XJZY(SZ:002332)2020-04-24 16:00Financial Performance - The company's operating revenue for 2019 was approximately ¥3.71 billion, representing a 2.40% increase compared to the previous year[21]. - The net profit attributable to shareholders for 2019 was approximately ¥410.37 million, a significant increase of 36.17% year-over-year[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥378.11 million, reflecting a 33.90% increase from the previous year[21]. - The net cash flow from operating activities reached approximately ¥519.81 million, marking a substantial increase of 168.96% compared to the previous year[21]. - The total assets at the end of 2019 amounted to approximately ¥5.82 billion, which is a 7.00% increase from the end of 2018[23]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥2.94 billion, showing an 11.77% increase year-over-year[23]. - The basic earnings per share for 2019 were ¥0.45, up 36.36% from ¥0.33 in 2018[21]. - The diluted earnings per share also stood at ¥0.45, reflecting the same percentage increase as the basic earnings per share[21]. - The weighted average return on equity for 2019 was 14.78%, an increase from 12.05% in 2018[21]. - The company reported a total of ¥32.26 million in non-recurring gains for 2019, compared to ¥18.99 million in 2018[30]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1 RMB per 10 shares (including tax) to all shareholders, based on a total of 916,212,160 shares[5]. - The cash dividend for 2019 represents 22.33% of the net profit attributable to shareholders, which is 410,368,585.97 yuan[129]. - The total distributable profit for the year is 716,700,923.75 yuan, after accounting for the previous year's dividend distribution[132]. - The cash dividend payout ratio for the last three years has been 22.33% in 2019, 19.76% in 2018, and 26.60% in 2017[129]. - The company has maintained a consistent dividend policy over the past three years, with increasing cash dividends each year[128]. Market and Industry Position - The pharmaceutical industry in China is experiencing a robust growth trend, with a revenue increase of 7.4% in 2019, outpacing the overall industrial growth rate[35]. - The global pharmaceutical expenditure is approaching $1.3 trillion, with China being the second-largest market, projected to exceed $1.5 trillion by 2023[35]. - The steroid drug industry is characterized by high entry barriers and significant technical challenges, with the company positioned among the leading manufacturers in China[39]. - The company maintains a strong market share in the steroid hormone sector, ranking in the first tier of the industry[39]. - The company is actively expanding its international market presence, enhancing its competitive advantage in the global hormone industry[35]. Research and Development - The company is focused on R&D and aims to complete the consistency evaluation of generic drug quality and efficacy on schedule[5]. - The company emphasizes the importance of talent acquisition and retention to mitigate risks associated with R&D and operational efficiency[5]. - The company holds 35 authorized invention patents, showcasing its strong R&D capabilities[47]. - Research and development expenses increased by 43.17% to ¥204,521,925.83 compared to ¥142,852,404.83 in the previous year[79]. - The number of R&D personnel rose by 58.09% to 430 in 2019, increasing the proportion of R&D staff to 11.65% of the total workforce[90]. - The company is focused on expanding its product portfolio through new drug applications and re-registrations to enhance market presence[81]. Operational Stability and Compliance - The company has not reported any changes in its main business since its listing, indicating stability in operations[20]. - The company operates under strict GMP (Good Manufacturing Practice) standards to ensure product quality[12]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company is committed to ensuring compliance with the new drug management laws and enhancing its quality assurance system to align with international standards[116]. Risk Management - The company highlighted risks including industry policy changes, drug price reductions, and raw material price fluctuations, which could impact future performance[5]. - The company acknowledges the high risks associated with new drug development, including long cycles and regulatory scrutiny, and is refining its R&D focus to mitigate these risks[122]. - The company is addressing the risk of fluctuating raw material prices, which could impact product costs, by enhancing its market research and focusing on high-end international registrations[122]. Environmental Responsibility - The company maintains a commitment to environmental protection and sustainable development, ensuring compliance with national environmental regulations and investing in necessary environmental protection facilities[176]. - The company has established wastewater treatment facilities with capacities of 2200 t/d, 400 t/d, 1400 t/d, and 150 t/d across its main plant and subsidiaries, all operating normally during the reporting period[184]. - The total emissions for the main plant and subsidiaries include COD at 433.584 tons, ammonia nitrogen at 31.615 tons, total phosphorus at 7.226 tons, and total nitrogen at 63.231 tons, all within regulatory limits[184]. - The company achieved a stable operation rate of over 99% for its environmental protection facilities, ensuring compliance with pollution discharge standards[184]. Corporate Governance - The company emphasizes the protection of shareholder and creditor rights, ensuring compliance with legal regulations and providing a network voting platform for minority shareholders[172]. - The company has established a comprehensive performance evaluation system and offers career planning and training programs to enhance employee skills and promote mutual growth[174]. - The company has maintained its accounting firm, 天健会计师事务所, for 19 consecutive years, with an audit fee of CNY 1.85 million[145].