Guanhao Biotech(SZ:300238)2023-04-19 16:00Financial Performance - The net profit attributable to shareholders for 2022 was -307.84 million yuan, a decrease of 517.76% compared to the previous year[4]. - The total operating revenue for 2022 was 377 million yuan, down 22.84% year-on-year, with artificial crystal revenue decreasing by 74.68% and biological membrane revenue decreasing by 22.92%[5]. - The company's operating revenue for 2022 was ¥377,285,014.20, a decrease of 22.84% compared to ¥488,981,886.96 in 2021[22]. - The net profit attributable to shareholders for 2022 was -¥307,836,656.76, representing a decline of 517.76% from ¥73,687,006.12 in 2021[22]. - The cash flow from operating activities for 2022 was ¥70,983,730.69, down 42.00% from ¥122,394,243.74 in 2021[22]. - The total assets at the end of 2022 were ¥670,209,400.26, a decrease of 39.00% from ¥1,098,737,109.35 at the end of 2021[22]. - The basic earnings per share for 2022 was -¥1.16, compared to ¥0.28 in 2021, reflecting a decline of 514.29%[22]. - The company reported a significant increase in non-recurring losses, with a total of ¥23,807,140.80 in 2022 compared to ¥22,541,099.05 in 2021[29]. - The company experienced a quarterly revenue fluctuation, with Q1 2022 revenue at ¥122,927,958.21 and Q2 at ¥79,949,117.81, indicating a decline in the second quarter[25]. Impairment and Losses - The company recognized inventory impairment losses of 69.05 million yuan and goodwill impairment losses of 214.33 million yuan due to the early termination of the distribution agreement for its subsidiary, Zhuhai Xiangle Medical Equipment Co., Ltd.[4]. - Investment losses of 11.29 million yuan were confirmed from joint ventures and associates, along with long-term equity investment impairment losses of 30.36 million yuan due to economic downturns[4]. - The company recorded an impairment loss of CNY 214.33 million related to goodwill from the acquisition of Zhuhai Xiangle[48]. - The company’s non-recurring gains and losses impacted the net profit attributable to shareholders by CNY 23.81 million in 2022[48]. Research and Development - The company has maintained a focus on innovation in the biopharmaceutical industry, emphasizing the development of biological materials and advanced medical technologies[35]. - The company has established a national-level engineering laboratory for regenerative medical implants, focusing on innovative biomaterials and product development, becoming a leading R&D center in the industry[37]. - The company has authorized 5 invention patents in 2022, focusing on cell technology research and development[45]. - The company’s project for the "Regenerative Biological Membrane High-Tech Industrialization" has been included in the national high-tech industrialization demonstration project[44]. - The company’s cell and stem cell research platform has been built in compliance with international standards, focusing on personalized cell therapy products[45]. - R&D investment amounted to ¥57,899,997.51 in 2022, representing 15.35% of operating revenue, an increase from 10.06% in 2021[74]. - The company is conducting clinical research for the biological dura mater repair material, aiming for product registration and market launch[72]. - The company is in phase III clinical trials for the indication of dermatitis with the product Benvimod, targeting commercialization upon approval[72]. - The company is exploring induced pluripotent stem cells for artificial liver technology, with plans for registration and industrialization[72]. - The company is advancing research on mesenchymal stem cell therapy, with preclinical studies ongoing for various diseases[72]. Market and Product Development - The global pharmaceutical expenditure is projected to reach $1.5 trillion by 2025, with an average growth rate of 4.6% over the next five years[38]. - The Chinese pharmaceutical market is expected to grow at a rate of 14%-17%, surpassing 5.3 trillion yuan by 2025[38]. - The company’s product, Bimekizumab cream, is included in the national medical insurance and is used to treat various autoimmune diseases[39]. - The revenue from Benvimod cream reached CNY 34.35 million, an increase of 14.79% compared to the previous year[47]. - Revenue from cell technology services was CNY 40.45 million, up 73.88% year-on-year[47]. - Revenue from neurosurgery agency products amounted to CNY 79.82 million, reflecting an 11.81% increase from the previous year[47]. - The company is developing a biodegradable tear duct plug for dry eye treatment, with plans for product registration and market launch[72]. - New product launches are anticipated in Q2 2023, focusing on advanced biotechnology solutions aimed at enhancing market competitiveness[122]. Strategic Initiatives - The company plans to forgo cash dividends, bonus shares, and capital reserve transfers to increase share capital for the year[5]. - The company aims to enhance market share through dual-channel marketing strategies, combining online and offline approaches[56]. - The company is actively pursuing collaborations with medical institutions for clinical research projects related to mesenchymal stem cells[51]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the biotechnology market[135]. - The company has established a strategic plan for 2021-2025, focusing on integrating high-end technology resources and expanding into related health fields[92]. - The company plans to continue expanding its product offerings and enhancing its intellectual property portfolio to support future growth[76]. Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective coordination and checks and balances[109]. - The board of directors consists of 9 members, including 3 independent directors, meeting the requirements of relevant laws and regulations[113]. - The company emphasizes investor relations management, ensuring timely and accurate information disclosure through various channels[116]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance[118]. - The company has a comprehensive set of governance regulations, including rules for shareholders' meetings and board meetings, to protect shareholders' rights[111]. - The supervisory board consists of 3 members, including 1 employee supervisor, ensuring compliance and effective oversight of the company's operations[115]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, to provide professional advice and oversight[114]. Employee and Social Responsibility - The total number of employees at the end of the reporting period is 586, with 185 in the parent company and 401 in major subsidiaries[148]. - The company emphasizes a commitment to social responsibility, aiming for high-quality development while ensuring employee welfare and environmental sustainability[165]. - The company adheres to a principle of equal employment opportunities and complies with all relevant labor laws and regulations[166]. - The company has implemented various training programs, including onboarding for new employees and management training, to enhance employee skills and support business goals[151]. - The company actively engaged in social responsibility initiatives, donating materials to local health institutions and supporting businesses with rent reductions in 2022[170]. - The company was awarded the title of "Charity Loving Enterprise" by the Huangpu District Political and Legal Committee and the Huangpu District Social Construction Promotion Association in 2022[170]. Risks and Challenges - The company faces risks from policy changes in the medical device industry, which could impact sales regions and prices, and plans to adapt its marketing strategies accordingly[99]. - The company has established a strict supplier evaluation system to mitigate risks related to animal disease outbreaks affecting raw material supply[103]. - The company has not engaged in any significant asset or equity sales during the reporting period, maintaining its asset base[89]. - The company did not experience any penalties or rectification situations during the reporting period[184]. - There were no major guarantees reported during the period[195]. Future Outlook - The company has provided a performance guidance for 2023, expecting a revenue growth of 25% to 1.875 billion RMB[123]. - The company plans to enhance its digital marketing efforts, aiming for a 50% increase in online engagement by the end of 2023[123]. - Future strategies include diversifying product lines to include at least two new categories by the end of the next fiscal year[128]. - The company aims to leverage its expertise in biotechnology to drive future growth and innovation in the sector[135].