新天药业(002873) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 694,259,400.60, representing a 1.84% increase compared to CNY 681,714,129.26 in 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 70,975,496.22, which is a 7.35% increase from CNY 66,116,844.06 in 2017[17]. - The net profit after deducting non-recurring gains and losses decreased by 6.20% to CNY 59,070,611.08 in 2018 from CNY 62,973,693.63 in 2017[17]. - The net cash flow from operating activities was CNY 47,592,579.48, down 23.31% from CNY 62,060,035.55 in the previous year[17]. - The basic earnings per share for 2018 was CNY 0.6061, a decrease of 3.84% from CNY 0.6303 in 2017[17]. - The total assets at the end of 2018 were CNY 984,313,099.51, reflecting a 14.94% increase from CNY 856,403,946.15 at the end of 2017[18]. - The net assets attributable to shareholders increased by 5.89% to CNY 658,718,793.62 at the end of 2018 from CNY 622,105,344.44 at the end of 2017[18]. - The weighted average return on net assets decreased to 10.91% in 2018 from 13.98% in 2017, indicating a decline in profitability[17]. Revenue Breakdown - Total revenue for the year was 201,781,886.88 CNY in Q3, with a quarterly revenue of 172,254,916.38 CNY in Q4[22]. - Net profit attributable to shareholders was 32,126,642.90 CNY in Q3, but dropped to 5,966,399.52 CNY in Q4[22]. - The net cash flow from operating activities reached 36,746,112.42 CNY in Q3, while it decreased to 2,659,371.20 CNY in Q4[22]. - The main business revenue was CNY 693.64 million, accounting for 99.91% of total revenue, with a growth of 1.80% compared to the previous year[46]. - The revenue from the main product, Kuntai Capsule, was CNY 284.28 million, accounting for 40.95% of total revenue, with a growth of 3.03%[46]. Research and Development - The company has established a strong R&D team and a tiered project structure to support future growth[27]. - The company holds 40 invention patents and has obtained 11 national new drug certificates, indicating a strong focus on R&D[38]. - Research and development expenses increased by 37.91% to ¥31,833,436.04 in 2018, primarily due to increased R&D activities[56]. - The number of R&D personnel increased by 13.24% to 154, while R&D investment amounted to ¥31,968,464.18, representing 4.60% of operating revenue[60]. Market Strategy and Operations - The company plans to leverage its unique R&D capabilities and rich herbal resources in Guizhou Province to develop modern traditional Chinese medicine[43]. - The company has 50+ drug production licenses and 13 exclusive varieties, with leading products being unique in the domestic market[27]. - The sales team consists of over 800 members, covering over 10,000 hospitals and establishing stable business relationships with over 1,000 medical commercial units[40]. - The company’s marketing strategy emphasizes professional promotion and service-oriented sales, enhancing trust among clinical medical personnel[39]. Investment and Financing - The company plans to expand its market presence and enhance product offerings through strategic investments and partnerships in the pharmaceutical technology sector[69]. - The total amount of funds raised in the IPO was 317.02 million RMB, with a net amount of 289.69 million RMB after deducting issuance costs of 27.33 million RMB[74]. - The company has committed to invest 73.37 million RMB in the new traditional Chinese medicine extraction production project, with 20.42% of the investment completed by the end of the reporting period[76]. - The company has engaged in significant equity investments, including a new establishment in the pharmaceutical sector with a capital of $20 million, holding a 51% stake[69]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares (including tax) to all shareholders[4]. - The cash dividend amount was CNY 5,854,800, representing 8.25% of the net profit attributable to ordinary shareholders[96]. - The total cash dividend (including other methods) for 2018 was CNY 21,829,285.93, which accounted for 32.51% of the distributable profit of CNY 67,139,493.97[97]. - The cash dividend payout ratio for 2018 was the lowest at 20% due to significant capital expenditure plans[97]. Corporate Governance - The company has established measures to stabilize its stock price, including potential share buybacks if the stock price falls below 120% of the latest audited net asset value per share[106]. - The company has committed to transparency by announcing any shareholding reductions three trading days in advance, detailing the amount and execution period[101]. - The company has not engaged in any related party transactions that would compromise its financial integrity, maintaining a clear separation from its controlling shareholders[103]. - The company’s management team includes several key individuals who are responsible for ensuring the integrity of financial reporting and compliance[118]. Social Responsibility and Environmental Impact - The company donated a total of 1 million yuan for medical assistance and educational support in 2018, including 100,000 yuan to Nanjing Medical University for medical aid[149]. - The company has established a wastewater treatment capacity of 2,000 tons per day at the old plant and 720 tons per day at the new plant, ensuring compliance with environmental standards[155]. - The company actively participates in social welfare activities, emphasizing environmental protection and energy consumption reduction[147]. - The company has established a robust environmental protection framework, with all pollution control facilities operating in compliance with regulatory standards[154]. Employee and Management Structure - The total number of employees in the company is 1,521, with 1,367 in the parent company and 154 in major subsidiaries[200]. - The professional composition includes 880 sales personnel, 260 production personnel, 230 technical personnel, 40 financial personnel, and 111 administrative personnel[200]. - The current management team includes 12 members, with a mix of directors and vice presidents[199]. - The average age of the current management team is approximately 48 years[199].