RINGPU(SZ:300119)2023-03-31 16:00Financial Performance - The company reported a profit distribution plan to distribute a cash dividend of 3 RMB per 10 shares (including tax) based on a total of 468,018,786 shares[4]. - The company's operating revenue for 2022 was CNY 2,084,250,399, representing a 3.84% increase compared to CNY 2,007,138,304.57 in 2021[23]. - The net profit attributable to shareholders decreased by 16.01% to CNY 346,698,684.97 in 2022 from CNY 412,784,534.66 in 2021[23]. - The basic earnings per share fell by 27.00% to CNY 0.7488 in 2022, down from CNY 1.0258 in 2021[23]. - The total assets increased by 7.30% to CNY 6,106,273,672.25 at the end of 2022, compared to CNY 5,690,781,226.40 at the end of 2021[23]. - The net cash flow from operating activities was CNY 389,486,980.07, a 1.79% increase from CNY 382,628,909.13 in 2021[23]. - The company achieved a revenue of CNY 2,084.25 million in 2022, representing a year-on-year growth of 3.84%[71]. - The net profit attributable to the parent company was CNY 346.70 million, a decrease of 16.01% compared to the previous year[71]. - The total revenue for 2022 was CNY 2,084,250,399, representing a 3.84% increase from CNY 2,007,138,304.57 in 2021[89]. Market Position and Strategy - The company operates in the animal health sector, focusing on veterinary drugs and biological products for disease prevention and treatment[17]. - The company is positioned in the veterinary medicine manufacturing industry, providing disease prevention products and services for economic and companion animals[34]. - The company is recognized as one of the largest veterinary drug enterprises in China, with the most comprehensive product range and a focus on animal disease prevention solutions[40]. - The company has established strategic partnerships with top 300 poultry and top 200 livestock farming groups, enhancing market coverage and sales proportion[47]. - The company aims to cover 1,500 key poultry farming counties and 1,000 key livestock farming counties in China, focusing on small and medium-sized farms[49]. - The company has introduced a new pet product line, including dewormers and ear medications, and is strengthening its sales channels through strategic partnerships[50]. - The company has established multiple national and provincial innovation platforms, enhancing its research capabilities and fostering collaboration with over 30 renowned research institutions[61]. - The company is actively seeking overseas investment opportunities to implement its "going out" strategy and gradually expand its international market presence[149]. Research and Development - The company has developed 494 veterinary drug products, including 116 biological products and 198 chemical drug formulations, making it one of the largest enterprises in the domestic veterinary drug industry[65]. - The company has a strong focus on innovation, with 14 core technology platforms for drug research and development, including an AI drug development platform[71]. - The company has received 20 invention patents and 15 utility model patents during the reporting period, totaling 172 invention patents and 67 utility model patents by the end of the reporting period[74]. - The company achieved a research and development investment of ¥168,372,422.90 in 2022, representing an increase of 11.06% from ¥151,631,979.07 in 2021[106]. - The R&D investment accounted for 8.08% of the total operating revenue in 2022, up from 7.55% in 2021[106]. - The company has a total of 324 R&D personnel, including 20 PhDs and 199 master's degree holders, enhancing its research capabilities[75]. - The company has made significant breakthroughs in new product development, particularly in the fields of genetic engineering vaccines and multi-valent vaccines[71]. - The company is focusing on innovation and increasing R&D investment, which is expected to enhance its overall competitiveness in the industry[102]. Risks and Challenges - The company faces risks including animal epidemic risks, market competition risks, talent loss risks, and product development risks[4]. - The competitive landscape in the veterinary medicine industry is intensifying, prompting the company to optimize its industrial layout and enhance its comprehensive strength[151]. - The R&D cycle for veterinary products is long and uncertain, with risks associated with obtaining necessary approvals and market conditions[154]. - The company has implemented a strict credit management policy to mitigate risks associated with high accounts receivable, ensuring most customer debts remain within normal credit periods[156]. Governance and Management - The company emphasizes the importance of accurate financial reporting and has a dedicated team for financial oversight[4]. - The company has a clear ownership structure, with all intangible and tangible assets owned independently, ensuring no asset occupation by the controlling shareholder[175]. - The company has taken effective measures to protect the rights of minority shareholders during significant decision-making processes[162]. - The board of directors consists of 9 members, including 3 independent directors, enhancing decision-making capabilities and governance standards[164]. - The company has implemented a performance evaluation and incentive system for directors and senior management, promoting long-term development[171]. - The company has actively improved investor relations management, ensuring timely and accurate information disclosure to all shareholders[170]. - The company has established a dedicated investor hotline and email to address investor inquiries, enhancing communication transparency[170]. Future Outlook - The company’s future outlook includes potential market expansion and new product development in the veterinary sector[4]. - In 2023, the company plans to launch new products in the livestock sector, including inactivated vaccines for pig reproductive and respiratory syndrome and porcine circovirus, which will enhance product competitiveness[55]. - The poultry sector will introduce new products such as the LaSota+LDT3 bivalent live vaccine and inactivated vaccines, aiming to improve disease prevention solutions and expand channel coverage[55]. - The company plans to launch multiple new vaccines in 2023, including a trivalent inactivated vaccine for avian influenza and a gene-engineered vaccine for porcine circovirus type 2, contributing to high-quality development[142]. - The company is focusing on digital transformation, aiming to establish a digital manufacturing platform for veterinary drugs, integrating AI, information technology, and automation[146].