TAT(SZ:002433)2023-06-13 16:00Financial Performance - The company reported a significant revenue decline of 15% year-on-year for 2022, totaling approximately 1.2 billion CNY[21]. - The net profit attributable to shareholders decreased by 20% compared to the previous year, amounting to around 150 million CNY[21]. - 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[26]. - The net profit attributable to shareholders was -¥822,822,306.85 in 2022, a decline of 2.43% from -¥803,289,348.21 in 2021[26]. - The cash flow from operating activities was ¥222,189,274.79, down 73.36% from ¥833,892,028.75 in 2021[26]. - The total assets at the end of 2022 were ¥6,562,516,043.19, a decrease of 13.98% from ¥7,628,958,587.57 at the end of 2021[26]. - The company's basic and diluted earnings per share were both -¥1.07 in 2022, a slight decrease of 1.90% from -¥1.05 in 2021[26]. - The weighted average return on equity was -19.80% in 2022, compared to -16.67% in 2021, indicating a worsening financial performance[26]. - The company reported a net loss from non-operating income of -¥13,653,428.14 in 2022, compared to -¥32,839,908.21 in 2021[32]. - Total revenue for 2022 was ¥724,844,899.72, a decrease of 67.99% compared to ¥2,264,174,816.00 in 2021[67]. - Pharmaceutical revenue accounted for ¥708,965,680.76, down 67.50% from ¥2,181,427,500.00 in the previous year[67]. Market Strategy and Outlook - The company plans to invest 100 million CNY in R&D for new product development in the upcoming year[21]. - The company has outlined a market expansion strategy targeting a 25% increase in market share within the next three years[21]. - Future outlook includes a projected revenue growth of 5% for 2023, driven by new product launches and market strategies[21]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market presence[21]. - The company is actively responding to industry challenges and government policies aimed at promoting health and innovation in the pharmaceutical sector[37]. - The company aims to enhance its operational layout and optimize strategies in response to the evolving healthcare landscape[51]. - The company plans to respond to market competition by increasing new product development and expanding sales channels while consolidating traditional core product sales[113]. Research and Development - The company continues to invest in product research and development, including the completion of clinical research for new drugs[40]. - R&D investment accounted for 3.69% of operating revenue, an increase of 2.35 percentage points from 1.34% in the previous year[87]. - The number of R&D personnel increased to 71, representing 7.43% of the total workforce, up from 5.58% in 2021[87]. - Ongoing research projects include the development of traditional Chinese medicine formulations, such as the five-flavor disinfectant drink and the peach-red four-herb soup, to prepare for new drug applications[86]. - The company is conducting pre-IND registration consultations with the US FDA for its Q81/Q90 product, aiming to enhance international recognition[86]. Operational Challenges - The company faced significant challenges in 2022, with a focus on product structure adjustment and refined management to stabilize operations amid a tough economic environment[37]. - The company faced challenges in market expansion due to insufficient working capital affecting marketing investments[72]. - The company is facing significant operational and debt repayment risks in the coming year, indicating major uncertainties regarding its ability to continue as a going concern[171]. - The company has reported a non-operating fund occupation of 457 million yuan by the controlling shareholder, which has not been fully repaid as of the report date[150]. - The company faces risks from policy changes, raw material cost fluctuations, intensified market competition, and challenges in new drug development[111]. Governance and Compliance - The company maintained a governance structure compliant with the Corporate Law and Securities Law, ensuring independent operations from its controlling shareholder[117]. - The company has established a performance evaluation and incentive mechanism for senior management, linking compensation directly to operational performance[119]. - The company has independent financial management and auditing systems, ensuring no assets are occupied by the controlling shareholder[124]. - The company has implemented a comprehensive information disclosure policy, ensuring timely and accurate communication with investors[119]. - The company is under administrative supervision by the China Securities Regulatory Commission due to violations related to fund occupation and disclosure[190]. Environmental and Social Responsibility - The company emphasizes environmental protection and energy conservation, ensuring compliance with national environmental regulations[110]. - 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[159]. - The company aims to achieve a harmonious development between business operations and environmental protection[156]. - The company has committed to distributing cash dividends amounting to no less than 30% of the average distributable profit over the next three years[163]. - The company has pledged to allocate at least 10% of the annual distributable profit for cash dividends to minority shareholders[163].