ST吉药(300108) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥684,752,355.71, an increase of 5.58% compared to ¥648,546,128.84 in 2020[20] - The net profit attributable to shareholders for 2021 was a loss of ¥451,317,877.99, representing an increase in loss of 18.67% from a loss of ¥380,305,063.00 in 2020[20] - The total profit for the company was -¥463,682,133.25, a decrease of 12.17% year-on-year, while the net profit attributable to shareholders was -¥451,317,877.99, down 18.67% from the previous year[38] - The basic earnings per share for 2021 was ¥-0.6776, worsening from ¥-0.5710 in 2020[20] - The company reported a net profit impact of over 10% from its major subsidiaries, including Jilin Jinbao and Tonghua Shuanglong Chemical Co., Ltd.[61] - The company reported a net loss attributable to the parent company increased from CNY -1,499,893,886.70 in 2020 to CNY -1,951,211,764.69 in 2021, indicating a worsening financial performance[198] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥33,159,137.37, a 123.39% increase from a negative cash flow of ¥141,792,383.33 in 2020[20] - The total amount of cash inflow from operating activities decreased by 16.90% to CNY 602,422,300.78 in 2021[54] - The company reported a net decrease in cash and cash equivalents of CNY 8,196,964.75, an improvement of 54.51% compared to the previous year[55] - The company's cash and cash equivalents decreased from 47,607,953.74 yuan in 2020 to 25,653,885.94 yuan in 2021, a decline of approximately 46%[195] - The company's cash and cash equivalents dropped from CNY 131,400.93 in 2020 to CNY 36,970.94 in 2021, a decrease of about 72%[198] Assets and Liabilities - The total assets at the end of 2021 were ¥2,414,668,261.93, a decrease of 11.87% from ¥2,739,752,697.28 at the end of 2020[20] - The total liabilities increased, with short-term borrowings accounting for 37.56% of total assets at CNY 907,028,508[57] - Total assets decreased from CNY 2,739,752,697.28 in 2020 to CNY 2,414,668,261.93 in 2021, a decline of approximately 11.9%[196] - Total liabilities increased from CNY 2,712,552,815.99 in 2020 to CNY 2,865,398,522.51 in 2021, an increase of about 5.6%[197] - The company's total equity decreased significantly from CNY 27,199,881.29 in 2020 to CNY -450,730,260.58 in 2021, indicating a negative equity situation[198] Legal and Compliance Issues - The company faced severe liquidity issues, leading to overdue loans and multiple lawsuits, which significantly impacted operations[5] - The company is involved in multiple lawsuits, including a significant case with China Minmetals Health Industry Leasing Co., amounting to 4,511.54 million[138] - The company has ongoing litigation matters involving a borrowing dispute with an amount of 81.38 million yuan, which is currently being executed[136] - The company is actively managing its legal disputes to mitigate financial risks[137] - The company’s legal challenges are impacting its financial stability and operational focus[138] Research and Development - The company is currently developing one new drug, indicating ongoing investment in research and development[34] - The company's R&D investment in 2021 was CNY 11,264,141.84, accounting for 1.64% of operating revenue, down from 2.36% in 2020[52] - Research and development expenses amounted to CNY 16,631,400.91, reflecting a 1.24% increase year-on-year[50] - The number of R&D personnel decreased by 7.48% to 136 in 2021, while the proportion of R&D personnel to total employees increased to 11.90%[52] - The company has established partnerships with leading research institutions to foster innovation and accelerate product development[82] Market and Industry Position - The pharmaceutical industry in China is experiencing significant growth due to an aging population, with 264 million people aged 60 and above, representing 18.7% of the total population[32] - The company operates in a highly regulated pharmaceutical industry, which presents both challenges and opportunities for growth[33] - The company has approximately 170 drug production licenses, including 61 products listed in the national medical insurance catalog[34] - The company’s pharmaceutical segment includes a diverse range of dosage forms, such as tablets, capsules, and injections, catering to various medical needs[34] - The company is focused on performance evaluation and remuneration distribution based on operational performance and job responsibilities[91] Governance and Shareholder Engagement - The governance structure is compliant with relevant laws and regulations, ensuring independent decision-making and operational autonomy from controlling shareholders[75] - The board consists of 5 members, including 2 independent directors, ensuring compliance with governance standards[73] - The company maintains transparency in information disclosure, providing equal access to information for all shareholders[74] - The company held three shareholder meetings during the reporting period, with investor participation rates of 0.23%, 0.22%, and 0.25% respectively[76][77][79] - The company has a commitment to transparency, as evidenced by the independent opinions expressed by independent directors during board meetings[94] Strategic Initiatives - The company aims to establish a comprehensive pharmaceutical group strategy, focusing on pharmaceutical manufacturing, commercial services, and healthcare industries[66] - The company plans to enhance its management, particularly in the OTC market sales and innovative drug development[66] - The company is committed to enhancing shareholder value through strategic initiatives and improved financial performance[82] - The company is exploring new strategies to enhance its market position amidst ongoing legal issues[139] - The company has implemented a comprehensive compensation system to enhance employee engagement and retention[121]