ST天圣(002872) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 1,202,746,111, a decrease of 28.39% compared to CNY 1,678,052,460 in 2019[20]. - The net profit attributable to shareholders was a loss of CNY 490,732,370, representing a 119.10% increase in loss compared to a loss of CNY 222,852,634 in 2019[20]. - The net profit excluding non-recurring gains and losses was a loss of CNY 147,308,288, a decrease of 41.69% compared to a loss of CNY 252,630,492 in 2019[20]. - The basic and diluted earnings per share were both CNY -1.5432, a 120.21% increase in loss compared to CNY -0.7008 in 2019[20]. - The weighted average return on equity was -18.57%, a decrease of 11.15% compared to -7.42% in 2019[20]. - Total assets decreased by 17.27% from 2019 to 2020, amounting to ¥3,645,939,800[21]. - Net profit attributable to shareholders decreased by 18.95% from 2019 to 2020, totaling ¥2,340,360,120[21]. - Operating revenue for 2020 was ¥1,202,746,111.67, down from ¥1,679,540,467.80 in 2019, representing a decline of approximately 28.5%[21]. - The company reported a negative net profit for all four quarters of 2020, with the largest loss in Q4 amounting to ¥371,429,930.37[25]. - The operating profit for the year was -¥500,342,805.23, representing a decline of 125.74% year-on-year[46]. - The company recognized a total asset impairment provision of ¥36,977.19 million across various asset categories due to the impact of the COVID-19 pandemic[46]. Cash Flow and Investments - The cash flow from operating activities increased by 31.06% to CNY 189,754,329 from CNY 144,208,286 in 2019[20]. - The company reported a net cash flow from operating activities of ¥60,695,403.94 in Q2 2020, which was the highest quarterly figure for the year[25]. - The total cash inflow from investment activities rose significantly by 103.98% to ¥218,620,388.34, while cash outflow increased by 25.04% to ¥294,770,145.53, resulting in a net cash flow from investment activities of -¥76,149,757.19, an improvement of 40.77% year-over-year[72]. - The net cash flow from financing activities decreased significantly by 298.26%, resulting in a net outflow of -¥134,571,476.36, compared to -¥33,790,020.35 in 2019[72]. - The company has made new investments, with long-term equity investments amounting to ¥2,000,000.00, marking a new strategic direction[78]. Business Operations and Strategy - The company has over 300 approved drug varieties, with key products including pediatric cough granules and erythromycin enteric-coated capsules[30]. - The company operates a complete industry chain encompassing drug manufacturing, circulation, and R&D[29]. - The company has established a nationwide marketing channel and logistics distribution network over nearly two decades, enhancing its distribution capabilities[42]. - The company is adapting to industry changes, focusing on three core strategies: quality, innovation, and talent development[46]. - The company plans to enhance its marketing strategy by integrating brand promotion with academic promotion to capture market share[48]. - The company is focusing on talent acquisition and professional training to support overall development and operational efficiency[51]. - The company has expanded its market presence beyond Chongqing to other provinces including Beijing, Sichuan, and Hubei[42]. Legal and Compliance Issues - The company is facing potential risks in its future operations as outlined in the report[6]. - The report includes a disclaimer that forward-looking statements do not constitute a commitment to investors[6]. - The company has not engaged in any investor communications or interviews during the reporting period[125]. - The company has faced risk warnings due to the legal issues involving its major shareholders, which may impact stock trading[121]. - The company is currently involved in an appeal regarding a public prosecution for bribery, with the final judgment still pending[134]. - The company has committed to enhancing internal controls and auditing processes to prevent future fund misappropriation[124]. - The company has not been subject to any significant legal disputes or investigations that would hinder the transfer of ownership rights[133]. Future Outlook and Growth Plans - The company plans to launch three new products in 2021, targeting a market share increase of 10% in the next fiscal year[142]. - The company aims to expand its market presence through strategic partnerships and new product development initiatives[84]. - The company provided a future outlook projecting a revenue growth of 10-12% for 2021, driven by new product launches and market expansion strategies[147]. - The company plans to increase R&D efforts in traditional Chinese medicine and chemical drugs, with short, medium, and long-term R&D plans[108]. - The company intends to restructure its sales operations in Chongqing and nationwide, aiming for rapid sales growth in its self-produced products[110]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next three years[161]. Corporate Governance and Management - The company guarantees the establishment of an independent financial accounting department and independent bank accounts, ensuring compliance with tax regulations[153]. - The company has committed to maintaining independent operational activities, with the ability to autonomously manage assets and personnel[154]. - The company has pledged not to engage in any unauthorized use of its funds or assets, ensuring operational independence[154]. - The company emphasizes the importance of providing accurate and complete information to investors, with legal accountability for any misleading statements[155]. - The company is focused on maintaining a complete and independent governance structure, avoiding any institutional overlap with controlled enterprises[153]. Research and Development - The company has several key drug research projects in progress, including sodium chloride injection and lidocaine hydrochloride injection, all currently under review[52]. - Research and development expenses in 2020 were 22,456,265.11 yuan, down 38.11% from 36,286,833.93 yuan in 2019, representing 1.87% of total revenue[70]. - The company plans to invest 200 million yuan in new technology for production efficiency improvements over the next two years[157]. - The company is committed to maintaining a dividend payout ratio of 30% of net profits for the next three years[140].