2022-04-11 16:00Financial Performance - The company's audited revenue decreased by 62.97 million yuan compared to the preliminary earnings report, representing a reduction of nearly 1%[6] - The company's operating revenue for 2021 was ¥6,365,177,483.41, an increase of 19.38% compared to ¥5,332,074,875.27 in 2020[33] - The net profit attributable to shareholders for 2021 was ¥240,787,578.67, a decrease of 76.49% from ¥1,024,209,839.93 in 2020[33] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥90,112,059.27, down 84.78% from ¥592,007,482.48 in 2020[33] - The net cash flow from operating activities was -¥6,629,319.80, a decline of 117.78% compared to ¥37,283,625.07 in 2020[33] - The basic and diluted earnings per share for 2021 were both ¥0.1641, a decrease of 78.32% from ¥0.7568 in 2020[33] - The total assets at the end of 2021 were ¥19,108,175,266.78, an increase of 0.43% from ¥19,025,894,654.11 at the end of 2020[33] - The net assets attributable to shareholders at the end of 2021 were ¥11,411,354,455.88, a decrease of 1.37% from ¥11,569,392,530.92 at the end of 2020[33] - The company reported a significant decline in net profit in the fourth quarter of 2021, with a loss of -¥220,718,075.50 compared to profits in previous quarters[38] Dividend and Shareholder Relations - The board proposed a cash dividend of 0.35 yuan per 10 shares (including tax), based on a total of 1,467,296,204 shares[5] - The company plans to maintain the total distribution amount unchanged, adjusting the per-share distribution ratio if the share capital changes before implementation[5] - The company expressed sincere apologies to investors for the discrepancies in the financial data reported[8] - The company acknowledged that the differences between audited financial data and preliminary reports were primarily due to non-core business factors, which had a minimal impact on the main business results for 2021[8] Investment and Assets - The company has invested in TPG Biotechnology Partners IV, L.P. and TPG Biotechnology Partners V, L.P., which are industry funds[19] - The company holds stakes in Kymab Group Limited, Curemark LLC, Resverlogix Corp., OncoQuest Inc., Aridis Pharmaceuticals, Inc., and HighTide Therapeutics, Inc.[19] - The company made a significant equity investment of CNY 79,831,733.63 in Curemark LLC, acquiring a 4.20% stake in the new drug development for enzyme preparations[130] - The company reported a total of CNY 3,195,595,033.59 in financial assets at the beginning of the period, with a net change of CNY -5,183,345.49 during the period[125] - The company’s financial assets included trading financial assets of CNY 980,909,046.46 at the end of the period, after accounting for purchases and sales[125] Research and Development - Research and development expenses increased by 38.18% year-on-year, primarily due to increased investment in R&D projects[107] - The number of R&D personnel increased to 332 in 2021, up 13.70% from 292 in 2020[110] - R&D investment amounted to ¥245,824,660.32 in 2021, representing a 49.90% increase from ¥163,994,431.96 in 2020[110] - The proportion of R&D investment to operating revenue rose to 3.86% in 2021 from 3.08% in 2020, an increase of 0.78%[110] Market and Product Development - The company is focusing on innovation and transformation in response to national policies promoting drug price reductions and the normalization of centralized procurement[46] - The company operates in the heparin industry chain, with main products including enoxaparin sodium preparations and heparin raw materials, serving both domestic and international markets[48] - The company has developed approximately 200 different molecular structures in its CDMO business, supporting over 300 clinical trials and maintaining high customer loyalty and industry referral rates[52] - The company holds over 20 first-in-class drug candidates across more than 30 indications, with five indications in global Phase III clinical trials and 18 in Phase II[53] Risk Management - The company has established risk control mechanisms to manage foreign exchange derivative trading risks effectively[146] - The company faces risks including product quality issues due to complex production processes, which could lead to medical accidents[171] - The heparin raw material drug industry is highly competitive, with the company facing challenges from both original and generic brands in the European market[172] - The company relies heavily on two main products: enoxaparin sodium and heparin sodium API, making it vulnerable to various market pressures[173] Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements for governance structure[186] - The company has implemented a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[186] - The company emphasizes investor relations management, ensuring effective communication and interaction with investors[189] - The company has not engaged in any related party transactions or provided guarantees for the controlling shareholder or its subsidiaries during the reporting period[185] Strategic Outlook - The company plans to expand into the EU and global markets with the unutilized raised funds[148] - The company aims to enhance financial stability by mitigating the adverse effects of significant exchange rate fluctuations[146] - The company plans to strengthen its leading position in the heparin industry chain, focusing on the European, American, and Chinese markets[166] - The company is committed to investing in innovative drugs to address various health conditions, including cardiovascular diseases and liver diseases[164]