Beilu Pharma(SZ:300016)2020-03-11 16:00Financial Performance - In 2019, the company's operating revenue reached approximately ¥819.12 million, representing a 34.71% increase compared to ¥608.05 million in 2018[16]. - The net profit attributable to shareholders was approximately ¥342.44 million, a significant increase of 131.75% from ¥147.76 million in the previous year[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥166.55 million, up 23.39% from ¥134.98 million in 2018[16]. - The basic earnings per share increased to ¥0.70, reflecting a 133.33% rise from ¥0.30 in 2018[16]. - The total assets of the company at the end of 2019 were approximately ¥1.62 billion, a 26.00% increase from ¥1.29 billion at the end of 2018[16]. - The net assets attributable to shareholders increased to approximately ¥1.45 billion, up 20.30% from ¥1.21 billion in 2018[16]. - The gross profit margin was 68.90%, up by 1.86 percentage points compared to the previous year[56]. - The company achieved a revenue of 819.12 million yuan, representing a year-on-year growth of 34.71%[56]. - Net profit reached 342.44 million yuan, with a significant year-on-year increase of 131.75%[56]. - The total operating revenue for 2019 reached ¥819,119,389.78, representing a year-on-year increase of 34.71% compared to ¥608,053,473.00 in 2018[73]. Sales and Market Performance - The company faced significant pressure on drug sales due to policies such as medical insurance cost control and bidding price reductions[5]. - The company is currently facing uncertainties in the sales model for generic drugs due to the implementation of national volume-based procurement policies[5]. - In 2019, the company's contrast agent products achieved sales revenue of CNY 663.30 million, representing a year-on-year growth of 30.07%[31]. - The sales of contrast agents accounted for 80.98% of total revenue, amounting to ¥663,300,553.18, with a year-on-year growth of 30.07%[73]. - The company's proprietary product, Jiuwei Zhenxin Granules, generated sales revenue of CNY 68.18 million in 2019, with a year-on-year increase of 59.96%[33]. - The company's hypoglycemic products reported sales revenue of CNY 87.62 million in 2019, reflecting a year-on-year growth of 65.38%[35]. - The sales volume of injection products increased by 23.48% year-on-year, reaching 28,850.89 million milliliters, while production volume rose by 43.03%[78]. - The sales volume of tablet products surged by 67.76% year-on-year, totaling 29,975.63 million tablets, with production volume increasing by 64.61%[79]. Investments and Acquisitions - The company acquired 37.91% of Haichang Pharmaceutical for CNY 18 million, gaining actual control over the company, which is a key supplier of iodine contrast agent raw materials[36]. - The company invested CNY 30 million in Yirui Medical to enhance its capabilities in drug development in the central nervous system field through medical big data and artificial intelligence[38]. - The company completed the acquisition of Haichang Pharmaceutical and plans to integrate and manage it to strengthen the supply of iodinated contrast agent raw materials[126]. - The company made a significant equity investment of 30,000,000 yuan in Shanghai Yiyin Medical Technology Co., holding a 17.24% stake, but reported a loss of 530,482.24 yuan from this investment[104]. Research and Development - The company has made significant investments in R&D, enhancing the research environment and focusing on competitive products in the fields of central nervous system, diabetes, and contrast agents[70]. - The company's R&D investment reached 59,452,593.13 CNY in 2019, a significant increase of 129.03% year-on-year, accounting for 7.26% of total revenue[87]. - The company's R&D personnel increased to 88, representing 13.73% of the total workforce, up from 71 in the previous year[87]. - The company intends to explore innovative development strategies and partnerships with hospitals and research institutions to enhance its R&D capabilities[128]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥0.70 per 10 shares, with no bonus shares issued[6]. - The proposed cash dividend is RMB 0.70 per 10 shares, totaling RMB 34,618,813.32, based on a total share capital of 494,554,476 shares after repurchase[141]. - The cash dividend for 2019 represents 100% of the total profit distribution amount[138]. - The cash dividend for 2018 was ¥48,898,987.60, which accounted for 33.09% of the net profit attributable to ordinary shareholders[143]. - The company’s retained earnings available for distribution to shareholders as of December 31, 2019, amounted to RMB 694,865,327.89[139]. Corporate Governance and Management - The company has implemented strict internal controls and governance structures to enhance operational transparency and protect shareholder interests[69]. - The company received multiple awards for corporate governance, including the "Best Corporate Governance Listed Company Award" in Hong Kong[69]. - The company’s board of directors was restructured, increasing the number of directors from 5 to 9, allowing the company to control Haichang Pharmaceutical[182]. - The company’s management underwent changes, appointing new executives including a CFO and a chairman[179]. - The company has established a reasonable compensation management system to effectively motivate employees[129]. Market Trends and Industry Insights - The global market size for contrast agents is projected to exceed $5 billion in 2020, with a compound annual growth rate of 8.8% from 2015 to 2017[110]. - The domestic contrast agent market in China showed a compound annual growth rate of 17.22%, increasing from 2.587 billion yuan to 9.223 billion yuan from 2010 to 2018[110]. - The prevalence of diabetes in China has increased from 0.6% in 1980 to 11.6% currently, with approximately 114 million people affected, of which nearly 90% have Type II diabetes[115]. - The global diabetes drug market reached $77.5 billion in 2017 and is expected to exceed $124 billion by 2020, indicating a stable growth trend[116]. - The liquid biopsy market is projected to grow from $394 million in 2016 to $1.398 billion by 2021, with a compound annual growth rate of 28.8%[117]. Shareholder Structure and Changes - The largest shareholder, Wang Daixue, holds 22.37% of the shares, totaling 110,683,213 shares, with no changes during the reporting period[196]. - The company’s major shareholder, Chongqing Three Gorges Paint Co., Ltd., reduced its stake to 8.97% after a series of transactions[178]. - The company has a total of 10 major shareholders, with no new strategic investors or major changes in shareholding structure reported[196]. - The top ten shareholders include significant stakes from various entities, with the largest being Wang Daixue and Chongqing Three Gorges Paint Co., Ltd.[196].