沃森生物(300142) - 2021 Q3 - 季度财报

Financial Performance - Revenue for Q3 2021 was CNY 779,485,727.26, a decrease of 21.53% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 45,174,533.36, down 87.92% year-on-year[3] - The net profit excluding non-recurring items was CNY 144,849,997.28, a decrease of 61.34% compared to the same period last year[3] - Operating income decreased by 41.10% to ¥215.00 million, primarily due to a reduction in government subsidies received compared to the previous year[10] - Net profit for Q3 2021 was CNY 484,453,636.07, down from CNY 541,498,077.62 in Q3 2020, reflecting a decrease of about 10.5%[32] - The total comprehensive income for Q3 2021 was CNY 484,453,636.07, down from CNY 724,234,452.62 in Q3 2020, reflecting a decrease of approximately 33.1%[32] Assets and Liabilities - Total assets increased to CNY 12,496,732,456.59, representing a growth of 29.66% from the end of the previous year[4] - The company's equity attributable to shareholders rose to CNY 8,107,197,686.30, an increase of 23.87% year-on-year[4] - Total liabilities increased to CNY 2,937,704,005.72 from CNY 1,790,410,950.89, representing a rise of 64.0%[29] - The company reported a total asset value of CNY 9,647,921,572.41 as of the end of Q3 2021, reflecting an increase from CNY 9,638,289,331.56 at the end of 2020[38] - The total liabilities increased to CNY 1,800,043,191.74 from CNY 1,790,410,950.89, indicating a rise in financial obligations[38] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 265,097,392.38, up 135.14% compared to the previous year[3] - The company's net cash flow from operating activities increased by 135.14% to ¥26,509.74 million, driven by higher vaccine sales and government subsidies compared to the previous year[11] - The net cash flow from operating activities for Q3 2021 was CNY 265,097,392.38, an increase of 135.2% compared to CNY 112,738,425.79 in Q3 2020[35] - The total cash inflow from financing activities reached CNY 1,311,793,374.38, significantly up from CNY 65,068,876.00 in the same period last year[35] - The net cash flow from investment activities was negative at CNY -711,020,266.98, worsening from CNY -509,589,178.81 in Q3 2020[35] Research and Development - Research and development expenses surged by 118.19% to CNY 33,541.36, reflecting increased investment in vaccine product projects[9] - Research and development expenses increased to CNY 335,413,585.17, compared to CNY 153,724,480.11 in the previous year, marking a rise of approximately 118.5%[31] - The company is conducting clinical research on several new vaccines, including an mRNA vaccine for COVID-19 and a recombinant new coronavirus vaccine[19] Inventory and Sales - Inventory increased by 69.08% to CNY 81,758.30 due to increased raw material reserves and vaccine product stock[8] - The total batch release of vaccine products for the first three quarters was 26,282,891 doses, a decrease of 26.54% year-on-year, primarily due to a significant drop in the batch release of the DTP vaccine[17] - The AC combined vaccine batch release increased by 218.87%, from 401,865 doses to 1,281,431 doses[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 133,731, with the largest shareholder holding 4.74% of the shares[12] - The largest shareholder, Liu Junhui, holds 75,427,555 shares, representing 4.74% of the total shares[12] Stock Options - The stock option incentive plan initiated in 2018 involved the initial grant of 60.9 million stock options to 209 eligible participants[21] - The exercise price of the stock options was adjusted from CNY 25.00 to CNY 24.97 following the annual equity distribution in 2019[21] - The company approved the cancellation of 1.15 million stock options granted to two departing employees from the 2018 stock option incentive plan, reducing the number of initial grant recipients to 197 and the total number of options to 57.5 million[22] Other Financial Metrics - Operating costs for the same period were CNY 1,554,859,903.66, up from CNY 1,095,393,136.18, reflecting a significant increase in operational expenses[30] - The company reported investment income of CNY 58,084,611.89, significantly higher than CNY 5,737,431.91 in the previous year, reflecting an increase of approximately 908.8%[31] - The company reported a significant loss of CNY 99,675,463.92 from non-recurring items, primarily due to fair value losses on financial assets[5] Audit and Compliance - The third quarter report was not audited, indicating preliminary financial data[40] - The company adopted the new leasing standards effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[39]