ST吉药(300108) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥684,752,355.71, representing a 5.58% increase 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, which is an 18.67% increase in loss from ¥380,305,063.00 in 2020[20] - The total profit amounted to -¥463,682,133.25, a decrease of 12.17% year-on-year[40] - The net profit attributable to shareholders was -¥451,317,877.99, down 18.67% from the previous year[40] - The company's total revenue for Q1 was approximately CNY 165.25 million, Q2 was CNY 183.81 million, Q3 was CNY 151.88 million, and Q4 was CNY 183.80 million[24] - The net profit attributable to shareholders for Q1 was a loss of CNY 34.34 million, Q2 was a loss of CNY 200.03 million, Q3 was a loss of CNY 72.00 million, and Q4 was a loss of CNY 144.96 million[24] - The total sales amount from the top five customers reached ¥141,115,870.01, accounting for 20.61% of the annual total sales[50] - The largest customer, Liaoning Ruijia Meicheng Pharmaceutical Co., Ltd., contributed ¥68,830,465.58, representing 10.05% of the annual sales[50] Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥33,159,137.37, compared to a negative cash flow of ¥141,792,383.33 in 2020, marking a 123.39% increase[20] - The total assets at the end of 2021 were ¥2,414,668,261.93, down 11.87% from ¥2,739,752,697.28 at the end of 2020[20] - The company's net assets attributable to shareholders were negative at ¥-423,603,104.69, a drastic decline of 1,445.98% from ¥31,471,734.56 in 2020[20] - The cash and cash equivalents net increase was -¥8,196,964.75, showing a 54.51% improvement compared to the previous year[59] - As of the end of 2021, cash and cash equivalents amounted to ¥25,653,885.9, representing 1.06% of total assets, down from 1.74% at the beginning of the year[62] - Accounts receivable decreased to ¥226,814,046, accounting for 9.39% of total assets, a decline of 3.63% from the previous year[62] - Inventory stood at ¥217,012,235, making up 8.99% of total assets, down by 1.67% compared to the start of the year[62] - Fixed assets increased to ¥678,156,559, representing 28.08% of total assets, an increase of 2.25%[62] Legal and Financial Challenges - The company has faced severe liquidity issues, leading to overdue loans and multiple lawsuits, which have significantly impacted operations[4] - The company reported that its net profit for the last three accounting years has been negative, indicating ongoing uncertainty regarding its ability to continue as a going concern[20] - The company is currently facing overdue debts and has experienced litigation and arbitration issues, with some bank accounts frozen[146] - The company is involved in multiple ongoing lawsuits, including a borrowing dispute with Nanjing Bank, with a claim amounting to 1,545.15 million.[158] - The company is actively pursuing new strategies and market expansions, although specific details were not disclosed in the provided content.[156] - The company’s legal disputes indicate a significant focus on financial management and risk mitigation in its operations.[156] - The company is currently involved in a legal dispute with Haitong Hengyun, with a claim amounting to 81.38 million yuan, which is still in execution[154] - The company has reached a settlement agreement with Haitong Hengyun regarding a lawsuit involving Jinbao Pharmaceutical, which was recognized as a defaulting borrower by China National Pharmaceutical Group.[156] Research and Development - Research and development expenses amounted to ¥16,631,400.91, representing 2.43% of the operating revenue[54] - The number of R&D personnel decreased by 7.48% to 136, while the proportion of R&D personnel increased to 11.90%[54] - The company is in the research phase for new product development, aiming to achieve new profit growth points[54] - The company has a focus on research and development in biochemistry and molecular biology, with several team members holding advanced degrees in these fields[98] Corporate Governance - The company has implemented a governance structure that ensures fair treatment of all shareholders, particularly minority investors, during decision-making processes[80] - The company has maintained compliance with relevant laws and regulations, ensuring that all related party transactions are conducted at fair prices without harming shareholder interests[80] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[101] - The company has established a governance structure that includes a remuneration and assessment committee to oversee executive compensation[102] - The company has a structured remuneration decision-making process involving performance evaluations and approval from the board and shareholders[102] Market Position and Strategy - The company operates in the pharmaceutical industry, which is increasingly important due to the aging population in China, with 264 million people aged 60 and above[33] - The company focuses on the development and production of traditional Chinese medicine, aligning with national standards for modernization and internationalization[34] - The company aims to strengthen its management structure and talent development programs to support its growth strategy in the pharmaceutical sector[74] - The company plans to expand its market presence by focusing on the OTC market and enhancing the sales of innovative drugs, aiming for a broader reach in retail and terminal sales[74] Employee and Management Structure - The total number of employees at the end of the reporting period is 1,166, including 9 from the parent company and 1,157 from major subsidiaries[119] - The employee composition includes 641 production personnel, 172 sales personnel, 105 technical personnel, 45 financial personnel, and 203 administrative personnel[119] - The educational background of employees shows that there are 5 with a master's degree or above, 164 with a bachelor's degree, 226 with a college diploma, and 771 with education below college level[119] - The company has maintained a stable management team, with key executives holding their positions since 2017[94] Shareholder Engagement - The participation rate of investors in the first extraordinary shareholders' meeting of 2021 was 0.23%[84] - The participation rate of investors in the annual shareholders' meeting of 2020 was 0.22%[84] - The company held three extraordinary shareholders' meetings in 2021, with participation rates of 0.25% and 0.21% respectively[86] - The company has a complete profit distribution policy that aligns with its articles of association and shareholder resolutions[123] Future Outlook - The company is expected to provide further updates on its financial outlook and performance guidance in future communications.[156] - Future outlook remains uncertain due to ongoing litigation and financial constraints, which may affect growth prospects[162] - The company’s future outlook remains uncertain due to the potential financial implications of these lawsuits and ongoing legal proceedings[166]