TAT(SZ:002433)2023-06-07 16:00Financial Performance - The company reported a significant financial performance with total revenue reaching 1.5 billion RMB, representing a year-on-year increase of 12%[20]. - The company has provided a positive outlook for 2023, projecting a revenue growth of 10% to 1.65 billion RMB[20]. - The company's operating revenue for 2022 was ¥724,844,899.72, a decrease of 67.99% compared to ¥2,264,174,816.08 in 2021[25]. - The net profit attributable to shareholders for 2022 was -¥822,822,306.85, reflecting a 2.43% increase in losses from -¥803,289,348.21 in 2021[25]. - Total revenue for 2022 was ¥724,844,899.72, a decrease of 67.99% compared to ¥2,264,174,816.00 in 2021[68]. - Pharmaceutical revenue accounted for ¥708,965,680.76, representing 97.81% of total revenue, down 67.50% year-over-year[68]. - The company reported a significant drop in drug wholesale and retail revenue, decreasing by ¥1,239,262,997.29, down 85.44% from the previous year[73]. - The company’s net profit attributable to shareholders was a loss of ¥822,822,306.85, significantly impacted by asset impairment and credit loss provisions[92]. Market Expansion and Product Development - User data indicates a growth in customer base, with active users increasing by 15% to 3 million in 2022[20]. - New product development includes the launch of three innovative herbal medicines, expected to contribute an additional 200 million RMB in revenue[20]. - The company plans to expand its market presence by entering two new provinces in 2023, targeting a 5% market share in these regions[20]. - The company aims to leverage the growing demand for healthcare services, particularly in the context of the aging population and the three-child policy[55]. - The company is actively pursuing innovation in its product development and service delivery to meet evolving consumer health needs[53]. - The company is focused on expanding its market presence and enhancing product development to drive future growth[132]. Research and Development - The company has invested 100 million RMB in R&D for new technologies aimed at improving production efficiency[20]. - The company has invested in R&D, completing projects such as the secondary development of the well-known traditional Chinese medicine Qilin Wan[39]. - R&D investment accounted for 3.69% of operating revenue, an increase of 2.35 percentage points from 1.34% in the previous year[88]. - The number of R&D personnel increased to 71, representing 7.43% of the total workforce, up from 5.58% in 2021[88]. - The company is preparing for the U.S. FDA drug registration of Q81/Q90, with preliminary research and feedback already completed[87]. Financial Management and Governance - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year[6]. - The company has established a performance evaluation and incentive mechanism for senior management, linking compensation directly to company performance[120]. - The company strictly adheres to the requirements of the Company Law and Securities Law, ensuring compliance with corporate governance standards[118]. - The board of directors operates transparently and fairly, with a structure that meets legal requirements, ensuring the protection of shareholder rights[119]. - The company has maintained a stable management team, with key executives holding their positions since 2010, ensuring continuity in leadership[128]. Risks and Challenges - The company has identified potential risks in the market, including regulatory changes and competition, which may impact future performance[5]. - The company faces risks from policy changes, market competition, and rising raw material costs, which could impact profitability[112][113]. - The company experienced a resignation of the deputy general manager, Zhuang Qiming, on June 15, 2022, which may impact operational strategies[130]. - The company faces significant operational and debt repayment risks in the coming year, indicating major uncertainties regarding its ability to continue as a going concern[172]. - The company is currently involved in multiple legal disputes regarding unpaid debts and contractual obligations[188]. Compliance and Regulatory Issues - The company has been issued a warning letter by the China Securities Regulatory Commission for failing to disclose information within the statutory period[190]. - The company has acknowledged the need for improved compliance with financial reporting standards to avoid regulatory penalties[190]. - The audit report contains a reserved opinion due to the inability to obtain sufficient audit evidence regarding certain assets and liabilities[175]. - The company faced administrative regulatory measures due to inconsistencies in revenue recognition policies and financial statement consolidation scope[190]. Environmental and Social Responsibility - The company emphasizes environmental protection and energy conservation, aligning with national regulations on clean production and safety management[111]. - The company has taken measures to reduce carbon emissions through process improvements and employee awareness programs[157]. - The company commits to distributing at least 30% of its average distributable profits in cash over the next three years[164]. - The company has not violated environmental laws in the past three years and has implemented measures to reduce energy consumption and pollution through technological advancements[160].