汉森制药(002412) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥741,237,325.38, a decrease of 16.48% compared to ¥887,490,963.28 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥106,146,369.35, down 34.63% from ¥162,377,707.21 in 2019[16] - The net profit after deducting non-recurring gains and losses was ¥97,309,903.36, a decline of 36.95% from ¥154,338,124.68 in 2019[16] - The basic earnings per share for 2020 was ¥0.2109, a decrease of 34.65% compared to ¥0.3227 in 2019[16] - The total non-operating income and expenses, excluding the aforementioned items, resulted in a loss of ¥405,941.47 in 2020, compared to a profit of ¥1,680,205.33 in 2019[23] - The total non-recurring profit and loss for the company in 2020 was ¥8,836,465.99, slightly up from ¥8,039,582.53 in 2019[23] - The company's revenue for the pharmaceutical industry was approximately ¥739.97 million, a decrease of 16.50% compared to the same period last year[49] - The gross profit margin for the pharmaceutical industry was 70.27%, down 3.51% year-on-year[49] Assets and Liabilities - The total assets at the end of 2020 were ¥1,888,641,664.49, an increase of 0.30% from ¥1,882,905,804.71 at the end of 2019[16] - The net assets attributable to shareholders at the end of 2020 were ¥1,594,720,660.84, up 4.23% from ¥1,529,977,688.84 at the end of 2019[16] - The company's deferred income tax assets increased by 35.43%, reflecting an increase in government subsidies related to assets[34] - Long-term equity investments rose to ¥628.39 million, representing 33.27% of total assets, an increase of 2.54% from the previous year[64] - Other receivables increased dramatically by 1992.11% to ¥35.15 million, primarily due to a land guarantee payment of ¥23.60 million[64] Cash Flow - The net cash flow from operating activities for 2020 was ¥163,505,165.65, a decrease of 2.55% from ¥167,788,107.51 in 2019[16] - Operating cash inflow for 2020 was ¥928.73 million, a decrease of 4.88% compared to ¥976.33 million in 2019[60] - Investment cash inflow increased by 74.60% to ¥35.75 million, while investment cash outflow surged by 103.83% to ¥154.32 million, resulting in a net cash flow from investment activities of -¥118.57 million, a decline of 114.67%[60][61] - Net increase in cash and cash equivalents was -¥13.05 million, a significant drop of 138.50% from an increase of ¥33.89 million in 2019[61] Business Operations - The company's main business includes the research, production, and sales of traditional Chinese medicine, chemical drugs, and medical preparations, with a gradual expansion into the health and medical care sectors[26] - The product "Si Mo Tang Oral Liquid" is the only compound gastrointestinal motility traditional Chinese medicine product in the market, showing significant therapeutic effects, especially in post-operative recovery[30] - In 2020, the company faced a decline in sales volume due to the pandemic, leading to a decrease in operating income and net profit[30] - The marketing strategy includes a diversified approach with hospital promotion, grassroots promotion, chain promotion, distribution promotion, and controlled marketing[30] - The company has established a procurement management system to ensure quality and cost-effectiveness in raw material sourcing, adapting to market changes[30] Research and Development - Research and development expenses amounted to ¥31.63 million, representing 4.27% of total revenue, an increase from 3.79% in the previous year[59] - The number of R&D personnel increased by 32.28% to 209, accounting for 13.83% of the total workforce[59] - The company achieved a significant increase in the capitalized amount of R&D expenses by 139.74% compared to the previous year[59] Strategic Initiatives - The company plans to focus on innovation-driven development, launching new specifications and formulations for its key products, and enhancing production quality control technology[85] - The company aims to achieve a stable growth in performance in 2021 while ensuring the "four safety" principles, emphasizing quality improvement and operational efficiency[86] - The company intends to extend its business into health and medical care sectors, including the construction of traditional Chinese medicine GAP bases and elderly care services[85] - The company aims to rank among the top 50 pharmaceutical companies in China, focusing on product advantages and core competitiveness[85] Governance and Compliance - The company has established a sound internal control system to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[131] - The company emphasizes employee rights protection, providing a good working environment and signing labor contracts with all employees[131] - The company has implemented a performance evaluation system and conducts regular health check-ups for employees[131] - The company has established a robust internal audit system to supervise daily operations and major transactions[181] Shareholder Information - The total share capital is 503,200,000 shares, with a cash dividend of RMB 0.75 per 10 shares for the 2019 annual equity distribution[136] - The company has not distributed any cash dividends in 2020 and plans to roll over the undistributed profits to meet future operational funding needs[98] - The company has committed to not distributing cash dividends or bonus shares for the current fiscal year[99] Risk Management - The company has indicated potential risks in its future development outlook, which investors should be aware of[4] - The company faces risks from policy changes in the pharmaceutical industry, including stricter drug approval and quality supervision regulations[88] - The company is committed to improving product quality control and adhering to safety and environmental standards to mitigate production risks[91]