Chase Sun(SZ:300026)2021-03-30 16:00Financial Performance - The company reported a cash dividend of 0.4 RMB per 10 shares, totaling approximately 1.2 million RMB for all shareholders[13]. - Tianjin Chase Sun Pharmaceutical reported a revenue of CNY 1.2 billion for the fiscal year 2020, representing a year-over-year growth of 15%[27]. - The company achieved a net profit of CNY 300 million in 2020, an increase of 20% compared to the previous year[30]. - The company's operating revenue for 2020 was ¥6,488,115,933.34, representing a 29.69% increase compared to ¥5,002,938,538.26 in 2019[38]. - The net profit attributable to shareholders for 2020 was ¥573,394,032.25, a 42.45% increase from ¥402,529,542.97 in 2019[38]. - The net profit after deducting non-recurring gains and losses was ¥506,443,592.64, up 30.97% from ¥386,681,194.93 in 2019[38]. - The basic earnings per share for 2020 was ¥0.19, a 35.71% increase from ¥0.14 in 2019[38]. - The total assets at the end of 2020 were ¥10,179,628,487.94, a 20.80% increase from ¥8,426,545,426.47 at the end of 2019[38]. - The net assets attributable to shareholders at the end of 2020 were ¥7,194,120,602.32, a 6.01% increase from ¥6,786,376,503.79 at the end of 2019[38]. - The net cash flow from operating activities for 2020 was ¥196,661,909.63, a decrease of 9.00% from ¥216,103,791.88 in 2019[38]. Market Expansion and Strategy - The company aims to expand its domestic market sales while maintaining export business, aligning with the "dual circulation" strategy[10]. - The company is exploring market expansion opportunities in Southeast Asia, aiming for a 15% revenue contribution from this region by 2022[30]. - A strategic acquisition of a local competitor is under consideration, which could enhance market presence by 20%[30]. - The company is actively participating in the formulation of national drug standards to ensure compliance and quality control in its production systems[10]. - The company is focusing on AI technology to build a digital health ecosystem, enhancing its offerings in both home and medical use[10]. Research and Development - The company is committed to accelerating its research and development processes to elevate its pharmaceutical product lines[10]. - Research and development expenses increased by 30% to CNY 150 million, focusing on innovative traditional Chinese medicine[27]. - The company has over 30 ongoing research projects, including 5 new drug projects in category 1[77]. - The clinical trial for the oral PD-L1 small molecule inhibitor, Amdifene Tablets, is progressing smoothly, having completed the first dose group and entered the second dose group[73]. - The company has submitted applications for the Xuebijing injection and KB project to the FDA in 2020, with ongoing communication for project progress[73]. Product Development and Quality Control - The company plans to launch three new products in the next fiscal year, targeting a market share increase of 10%[30]. - The company has developed over 600 types of traditional Chinese medicine formula granules, covering the most frequently used varieties in clinical practice[53]. - The company has established a comprehensive quality control system, achieving compliance with GMP for products like moxifloxacin and ibandronate sodium in 2020[70]. - The company has built a global sales network, with subsidiaries in the US, Germany, Canada, India, and Singapore, directly connecting with local markets[71]. - The company has developed over 30 invention patents related to modern Chinese medicine production processes, ensuring quality and safety in its products[67]. Medical Device Business - The medical device business experienced significant sales growth due to the impact of the COVID-19 pandemic, although future trends remain uncertain[10]. - Medical devices achieved sales revenue of CNY 2.151 billion, a year-on-year increase of 228.31%, with a gross margin increase of 1.87 percentage points[57]. - The company launched over 100 models of pulse oximeters, including clip, handheld, wrist, and desktop types, catering to various healthcare needs in hospitals and homes[67]. - The company successfully launched infrared thermometers in the first half of 2020 to meet market demands during the COVID-19 pandemic[67]. - The medical device segment saw a revenue increase of 228.31% year-over-year, totaling ¥2,150,622,452.04, with a gross margin of 36.73%[100]. Digital Health and Internet Healthcare - The internet healthcare sector is entering a growth phase, with policies supporting online prescription drug sales and chronic disease management services now covered by medical insurance[11]. - The company is leveraging health big data and AI technology to enhance its overall digitalization and intelligence levels[53]. - The number of registered doctors on the online platform exceeded 50,000, serving over one million users cumulatively[57]. - The company has expanded its offline medical institutions to cover 20 provinces and cities, with 100 franchise medical institutions established[57]. Financial Management and Investments - The company invested over 1 billion yuan in poverty alleviation efforts, benefiting nearly 10,000 people involved in traditional Chinese medicine cultivation and production[78]. - The company has received numerous awards, including being named a national key high-tech enterprise and ranking 61st among the top 100 pharmaceutical companies in China in 2019[53]. - The company has set a performance guidance of CNY 1.5 billion in revenue for the next fiscal year, reflecting a growth target of 25%[30]. - The company has received two trademark registrations and passed GMP compliance inspections, indicating progress in its R&D projects[84]. - The company has established a strict approval system for the use of raised funds to ensure dedicated use[158].