SaiLong(SZ:002898)2021-04-29 16:00Financial Performance - The company's operating revenue for 2020 was ¥120,684,285.67, a decrease of 58.88% compared to ¥293,466,984.61 in 2019[16]. - The net profit attributable to shareholders for 2020 was -¥67,221,883.44, representing a decline of 344.59% from a profit of ¥27,483,210.02 in 2019[16]. - The net profit after deducting non-recurring gains and losses was -¥96,049,246.53, a decrease of 755.57% compared to ¥14,651,322.59 in 2019[16]. - The basic earnings per share for 2020 was -¥0.3819, down 344.49% from ¥0.1562 in 2019[16]. - The total operating revenue for 2020 was ¥120,684,285.67, a decrease of 58.88% compared to ¥293,466,984.61 in 2019[45]. - Revenue from the pharmaceutical industry accounted for 97.44% of total revenue, amounting to ¥117,591,966.68, down 54.97% from ¥261,155,250.11 in the previous year[45]. - The sales of pharmaceutical products were ¥109,794,280.19, representing 90.98% of total revenue, a decline of 56.20% from ¥250,662,648.69 in 2019[45]. - The company reported a significant drop in revenue from other business segments, which fell by 90.43% to ¥3,092,318.99 from ¥32,311,734.50 in 2019[45]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[111]. Cash Flow and Assets - The net cash flow from operating activities improved to ¥174,690.52, a significant increase from -¥46,515,325.72 in 2019, marking a 100.38% change[16]. - Total assets at the end of 2020 were ¥813,959,860.22, a decrease of 2.63% from ¥835,978,330.13 at the end of 2019[16]. - The net assets attributable to shareholders decreased by 10.93% to ¥587,002,441.20 from ¥659,024,324.64 in 2019[16]. - The total assets of the company amounted to RMB 813.96 million, with equity attributable to shareholders at RMB 587.00 million as of December 31, 2020[37]. - The total amount of raised funds is RMB 299.68 million, with RMB 16.83 million used in the reporting period and a cumulative total of RMB 255.05 million used[73]. - The company reported a fair value loss of ¥33,563,602.21 due to changes in the valuation of its investment in a subsidiary[64]. - The total assets of the company as of December 31, 2020, amounted to ¥835,978,330.13, with total liabilities of ¥176,954,005.49[122]. Research and Development - The company has obtained three invention patents during the reporting period, enhancing its product portfolio in the pharmaceutical sector[27]. - The company has completed the consistency evaluation for several key products, including the injection of Paracetamol and Milrinone, indicating progress in regulatory compliance[28]. - The company has initiated several new projects in solid oral formulations, marking a major breakthrough in its product development strategy[28]. - The company has made significant progress in R&D, with multiple products in various stages of clinical trials, including injection formulations of drugs for digestive and infectious diseases[39]. - Research and development investments increased, with the company obtaining 3 invention patents and 2 drug registration approvals during the reporting period[59]. - The company plans to enhance its product pipeline by focusing on high-end generics, complex injectables, and innovative drug development, while also leveraging partnerships for research and development[82]. - The company is committed to improving product quality management by revising quality supervision regulations and enhancing risk assessment procedures[86]. Market Strategy and Risks - The company faces risks related to industry policy changes, new drug development, environmental protection, and market expansion[5]. - The company is actively pursuing marketing reforms, focusing on developing and replacing target hospitals, particularly in county-level and grassroots hospitals[40]. - The company is prioritizing the completion of consistency evaluations for its products to participate in volume-based procurement, aiming for rapid approval of all consistency varieties[84]. - The company faces market expansion risks due to dynamic adjustments in the national essential drug list and the impact of the COVID-19 pandemic, prompting a focus on new product development and government affairs management[92]. - The company reported a net profit attributable to shareholders of 20% for the last fiscal year[104]. - The company plans to implement a refined marketing strategy, focusing on hospital coverage rates and profit contributions, to adapt to new procurement policies and expand market share[83]. Shareholder and Governance - The company plans to enhance its product pipeline by focusing on high-end generics, complex injectables, and innovative drug development, while also leveraging partnerships for research and development[82]. - The company’s profit distribution policy remains compliant with the requirements of the China Securities Regulatory Commission, ensuring transparency and adherence to procedures[97]. - The company’s cash dividend policy has not been adjusted or changed during the reporting period, reflecting stability in shareholder returns[97]. - The company has committed to not transferring or entrusting its shares for a period of 36 months from the date of its stock listing, ensuring shareholder confidence[102]. - The company will allocate at least 20% of the cash dividends received in the previous year for stock repurchase purposes, with a maximum of 100% of the cash dividends for a single year[106]. - The company has established a plan to stabilize its stock price post-IPO, which includes specific measures to be taken if the stock price falls significantly[106]. - The company will disclose any failure to implement the stock price stabilization measures and provide explanations to shareholders and the public[107]. Employee and Operational Management - The total number of employees in the company is 353, with 52 in the parent company and 301 in major subsidiaries[197]. - The employee composition includes 105 production personnel, 110 sales personnel, 67 technical personnel, 15 financial personnel, and 56 administrative personnel[197]. - The company emphasizes talent development and provides training opportunities to enhance employee skills and career growth[150]. - The company provides necessary social security plans and signs labor contracts with all employees[198]. - The training plan focuses on enhancing employee skills and potential development to support the company's strategic goals[199]. Environmental and Compliance - The company has established a comprehensive environmental protection and safety production system, implementing energy-saving and emission-reduction measures[151]. - The wastewater treatment facilities are operating normally, with a dedicated team managing pollution control measures[157]. - The company has a robust emergency response plan for environmental pollution incidents, ensuring preparedness for potential accidents[159]. - The company plans to enhance environmental investments and implement digital, dynamic environmental monitoring to ensure compliance with national regulations during capacity expansion[92].