新天药业(002873) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 750,946,390.31, a decrease of 2.90% compared to CNY 773,337,464.67 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 74,103,210.31, representing an increase of 3.75% from CNY 71,422,165.77 in 2019[16]. - The net profit after deducting non-recurring gains and losses was CNY 70,977,065.18, up by 3.37% from CNY 68,660,960.23 in the previous year[16]. - The net cash flow from operating activities surged to CNY 175,767,527.16, a significant increase of 421.13% compared to CNY 33,728,459.89 in 2019[16]. - The basic earnings per share for 2020 was CNY 0.6447, an increase of 4.27% from CNY 0.6183 in 2019[16]. - The diluted earnings per share decreased by 2.65% to CNY 0.6019 from CNY 0.6183 in the previous year[16]. - The total assets at the end of 2020 were CNY 1,535,933,766.56, reflecting a growth of 41.74% from CNY 1,083,647,584.75 at the end of 2019[16]. - The weighted average return on net assets was 9.76%, down from 10.72% in 2019[16]. - The company reported a total of 32 drug production licenses, including 10 in the national medical insurance catalog and 1 in the national essential drug catalog[26]. Market and Product Development - The company is focused on expanding its market presence in gynecology and urology, leveraging rich traditional Chinese medicine resources[25]. - The leading product, Kuntai Capsule, is a national essential drug and ranked 2nd in the gynecology medication field in the 2018 national Chinese medicine competition[26]. - The company has developed a unique product, Kucan Gel, which is the first vaginal carbomer gel in China, aimed at treating chronic gynecological inflammation[27]. - The company has maintained a steady growth trajectory in the traditional Chinese medicine market, ranking 70th among Chinese traditional medicine companies in 2019[25]. - The company is currently producing 12 main traditional Chinese medicine products, with 4 products in small-scale production and 2 products planned for future production[30]. - The company has completed Phase III clinical trials for three new traditional Chinese medicine products and is advancing related follow-up work as planned[31]. - The company has 421 traditional Chinese medicine formula granules in clinical research, with three new drug products having completed phase III clinical trials[45][46]. Research and Development - The company has 36 invention patents, 1 utility model patent, and 10 design patents, with 11 national new drug certificates and 32 drug approval numbers as of the reporting period[31]. - The company is enhancing its R&D capabilities through the establishment of a new R&D center, which is expected to facilitate the transformation of research results into marketable products[54]. - The total R&D investment was CNY 28,430,751.42, which is 3.79% of operating revenue, a decrease of 0.20% from the previous year[72]. - The number of R&D personnel increased by 9.92% to 144, representing 13.66% of the total workforce[72]. - The capitalized R&D investment increased by 55.68% to CNY 15,135,456.00, accounting for 53.24% of total R&D investment[72]. Cash Flow and Financing - The total cash inflow from financing activities rose by 86.63% to ¥568,300,000.00, driven by increased short-term borrowings and the issuance of convertible bonds[73]. - The net cash flow from financing activities surged by 2,389.32% to ¥299,330,832.63 from ¥12,024,602.25 in the previous year[73]. - The cash and cash equivalents increased by 250.00% to ¥148,430,922.07 from ¥42,409,015.61 in 2019[73]. - The company raised a total of RMB 31,702.02 million from its initial public offering, with a net amount of RMB 28,969.23 million after deducting issuance costs[88]. - The company has committed to invest RMB 7,337 million in a new traditional Chinese medicine extraction production line, with an investment progress of 20.41%[90]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares (including tax) to all shareholders[4]. - The total cash dividend (including other methods) amounted to RMB 16,377,461.28, representing 100% of the distributable profit[112]. - In 2020, cash dividends accounted for 22.10% of the net profit attributable to ordinary shareholders, compared to 39.78% in 2019 and 30.64% in 2018[110]. - The company has a commitment to maintain a minimum cash dividend ratio of 20% during its growth phase[112]. Corporate Governance and Compliance - The company has established strict limitations on financial transactions between the controlling shareholder and the company, prohibiting the use of company funds for personal expenses[114]. - The company has committed to transparency in any financial dealings with its controlling shareholder, ensuring compliance with relevant regulations[114]. - The company has not encountered any issues with the use of raised funds or other situations during the reporting period[93]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[122]. - The company is under the supervision of regulatory bodies and self-regulatory organizations to ensure compliance with commitments made[117]. Social Responsibility and Environmental Compliance - In 2020, the company donated a total of CNY 2 million to support COVID-19 prevention efforts and various poverty alleviation initiatives[152]. - The company has established a scientific and reasonable incentive mechanism to protect employee rights and interests[149]. - The company has implemented a comprehensive pollution prevention strategy, including the use of clean energy for boilers, resulting in emissions below the standards set by GB13271-2014[161]. - The company conducts annual emergency response training and drills as part of its environmental incident management plan[163]. - The company has reported no exceedances in pollutant discharge limits for key pollutants such as COD and ammonia nitrogen[159].