力生制药(002393) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 1,503,607,407.43, representing a 46.06% increase compared to CNY 1,029,433,431.40 in 2017[18] - The net profit attributable to shareholders for 2018 was CNY 184,977,556.78, which is a 58.35% increase from CNY 116,817,244.27 in 2017[18] - The basic earnings per share for 2018 was CNY 1.01, up 57.81% from CNY 0.64 in 2017[18] - The total profit for 2018 was CNY 213.99 million, an increase of 63.6% year-on-year[35] - The total operating revenue for 2018 reached ¥1,503,607,407.43, representing a 46.06% increase compared to ¥1,029,433,431.40 in 2017[46] - The company reported a net profit of 40,934,230 RMB from its subsidiary Tianjin Central Pharmaceutical Co., Ltd., which has total assets of 710,627,100 RMB[81] - The company's net profit attributable to ordinary shareholders for 2018 was 184,977,556.78 yuan, with a cash dividend payout ratio of 29.59%[102] - The total distributable profit for the year was 637,129,917.82 yuan, indicating a strong profit generation capability[103] Assets and Liabilities - The total assets at the end of 2018 were CNY 3,917,201,547.49, reflecting a 6.39% increase from CNY 3,682,038,382.30 at the end of 2017[18] - The net assets attributable to shareholders at the end of 2018 were CNY 3,212,355,312.03, a 4.31% increase from CNY 3,079,721,229.72 at the end of 2017[18] - As of the end of 2018, cash and cash equivalents amounted to ¥1,548,002,619.49, representing 39.52% of total assets, a decrease of 0.68% from the previous year[66] - Accounts receivable increased to ¥178,628,864.37, accounting for 4.56% of total assets, up by 1.93% compared to the end of 2017[66] - Long-term equity investments decreased to ¥49,016,161.94, representing 1.25% of total assets, down by 0.36% from the previous year[66] - Fixed assets amounted to ¥1,112,786,037.63, accounting for 28.41% of total assets, a decrease of 2.08% from the end of 2017[66] Cash Flow - The net cash flow from operating activities for 2018 was CNY 162,686,709.87, a decrease of 9.24% from CNY 179,246,598.68 in 2017[18] - Operating cash inflow increased by 46.68% to ¥1,464,841,581.86, while cash outflow rose by 58.91% to ¥1,302,154,871.99[63] Dividends - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares, based on a total share capital of 182,454,992 shares as of December 31, 2018[6] - The company plans to distribute a cash dividend of 3.00 yuan per 10 shares, totaling 54,736,497.60 yuan, which represents 100% of the distributable profit[103] - The company has maintained a consistent cash dividend policy over the past three years, ensuring transparency and protection of minority shareholders' rights[99] Research and Development - The company invested 6.3% of its revenue into research and development, supporting 13 new products and 4 process improvement projects[37] - Research and development expenses amounted to ¥94,297,637.09, a decrease of 7.72% compared to ¥102,189,831.83 in 2017, representing 6.27% of total revenue[60] - The number of R&D personnel increased by 17.20% to 327, representing 19.06% of the total workforce[60] Marketing and Sales - The company’s marketing strategies included the "Pangu Plan" and "Chun Zhu Plan," which aimed to enhance product sales and market presence[35] - The revenue from tablets accounted for 77.60% of total revenue, with a significant increase of 49.97% year-on-year, totaling ¥1,166,828,016.11[46] - The company’s product export revenue saw a year-on-year increase, driven by international registration efforts[35] Operational Efficiency - The company achieved a gross margin of 71.59% in the pharmaceutical manufacturing sector, with a year-on-year increase of 12.77%[48] - The company has implemented a performance appraisal system for subsidiary heads, enhancing the human resources framework and promoting a learning-oriented corporate culture[43] - The company is focusing on reducing operational costs and improving market competitiveness in response to the evolving pharmaceutical industry landscape[83] Risk Management - The company faced risks including industry policy changes and rising production costs, which may impact future performance[6] - The company is facing risks related to policy changes in the pharmaceutical industry, including drug price declines and increased production costs, and is actively working to mitigate these risks[92][93] - The company is enhancing its financial management and risk control measures, including quarterly budget execution analysis and receivables management[90] Corporate Governance - The company has established a talent development system to enhance employee skills and optimize the compensation structure, promoting a high-quality technical team[90] - The company’s governance structure complies with the requirements set by the China Securities Regulatory Commission, with no significant discrepancies[184] - The company has implemented effective internal auditing practices to monitor daily operations and major transactions[183] Social Responsibility - The company has a commitment to social responsibility, actively participating in disaster relief and community support initiatives[136] - The company donated 200,000 CNY in April and 800,000 CNY in December for poverty alleviation efforts[137] - The company has a total of 100 million CNY allocated for various poverty alleviation projects[139] Environmental Compliance - The company is a key pollutant discharge unit as per environmental protection regulations[140] - The company has engaged in hazardous waste disposal through a qualified service provider, handling 194.98 tons of hazardous waste in 2018[140] - The company has a focus on environmental protection and compliance with discharge standards[140] Shareholder Information - The total share count was 182,454,992, with 99.64% being unrestricted shares[148] - The largest shareholder, Tianjin Jinhao Pharmaceutical Co., Ltd., holds 51.36% of the shares, totaling 93,710,608 shares[150] - The company has not engaged in any share reduction commitments by controlling shareholders or actual controllers during the reporting period[156] Management and Personnel - The total number of employees in the company is 1,652, with 901 in the parent company and 751 in major subsidiaries[176] - The company has implemented a training plan focusing on GMP awareness, safety regulations, and professional skills enhancement for employees[178] - The remuneration for directors and senior management is determined based on performance evaluations and company operating results[173]