CSBIO(SZ:300255)2022-04-19 16:00Financial Performance - The company's total revenue for 2021 was not explicitly mentioned, but the report indicates a focus on growth and expansion strategies [18]. - The company's operating revenue for 2021 was ¥2,968,050,842.32, an increase of 25.56% compared to 2019 [25]. - The net profit attributable to shareholders for 2021 was ¥233,573,840.79, a decrease of 7.62% compared to 2020 [25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was ¥224,748,743.04, down 10.72% from 2020 [25]. - The total revenue for heparin raw materials reached ¥687,397,846.80 in 2021, a significant increase from ¥345,576,139.48 in 2020, reflecting a growth rate of 100% [74]. - The total revenue for water injection preparations was ¥492,852,941.70 in 2021, compared to ¥346,163,899.10 in 2020, indicating a growth rate of 42.36% [74]. - The company reported a significant increase in online sales revenue from its hyaluronic acid and cosmetics business, driven by the successful mass production of the active pharmaceutical ingredient, Ectoin [63]. - The company achieved a net profit of 12,860,074.98 CNY from its Jiangsu subsidiary, primarily from the export of low molecular weight heparin raw materials [133]. - The Hong Kong subsidiary reported a net profit of 18,404,155.91 CNY, mainly from the export of raw materials [133]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% growth year-over-year [200]. Shareholder Returns - The company reported a cash dividend of 0.26 CNY per 10 shares for all shareholders, based on a total of 919,060,878 shares [7]. - The company’s board of directors has approved the profit distribution plan, reflecting a commitment to shareholder returns [7]. Research and Development - The company is focused on research and development in biopharmaceuticals, which is crucial for future growth [18]. - The company has developed proprietary technologies for heparin and maintains a strong R&D system, contributing to its competitive edge in the market [42]. - The company is developing a new Class I drug, a long-acting GLP-1 formulation for the treatment of type 2 diabetes, which has entered the clinical phase III [46]. - R&D expenses rose to ¥150,626,662.12 in 2021, an increase of 18.10% from ¥127,543,413.03 in 2020, driven by higher R&D investments [83]. - The total R&D investment amounted to ¥219,515,411.99 in 2021, representing 7.40% of operating revenue, slightly up from 7.18% in 2020 [86]. - The company is focusing on the development of new products, including hyaluronic acid and sildenafil citrate, to drive revenue growth [140]. - The company is advancing the clinical trials for innovative drugs, including Aibennate, and aims to strengthen its R&D capabilities to support future growth [160]. Market Position and Strategy - The company has a leading market share in low molecular weight heparin calcium injection, covering over 3,000 hospitals nationwide [42]. - The company aims to leverage its position in the Hebei Free Trade Zone to enhance the production and export of upstream products like heparin crude and raw materials [43]. - The company plans to increase production and sales of low molecular weight heparin preparations to maintain its market leadership in China [140]. - The company intends to expand its international market presence by enhancing the production of high-value heparin raw materials and preparations [140]. - The company is focusing on both internal development and external expansion through mergers, technology collaborations, and joint ventures to enhance innovation capabilities and sustainable growth [164]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has declared that all financial statements are true, accurate, and complete [6]. - The company has established comprehensive governance regulations, including rules for shareholder meetings and board operations, to enhance decision-making transparency [168]. - The governance structure includes a board of directors, supervisory board, and management team, ensuring checks and balances among these entities [167]. - The company prioritizes accurate and timely information disclosure, designating the chairman as the primary responsible person for information disclosure [174]. - The company has a robust governance structure, with a dedicated supervisory board overseeing compliance and operational integrity [193]. Operational Efficiency - The company has a registered address in the Hebei Free Trade Zone, indicating a strategic location for operations [19]. - The company has multiple wholly-owned subsidiaries, enhancing its operational capabilities and market reach [15]. - The company has a total of 4 subsidiaries, with varying levels of profitability and operational focus, including biotechnology and medical device sectors [120]. - The company has a clear asset ownership structure, including land, buildings, machinery, trademarks, and patents, ensuring operational independence [176]. - The company has a complete labor and social security system, with all employees under formal contracts and social insurance [176]. Risks and Challenges - The company recognizes potential risks from government policy changes that could impact operational costs and market competition [143]. - The company is at risk of declining market share for heparin products if it fails to pass consistency evaluations or cannot win bids in national centralized procurement [144]. - Rising procurement costs for heparin crude products significantly affect the company's operating costs, prompting a focus on maintaining reasonable inventory and increasing self-supply [147]. - The company anticipates increased period expenses due to intensified market competition and diverse new product development, which may pressure cost control capabilities [148]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% [200]. - New product launches are expected to contribute an additional 300 million RMB in revenue next year [200]. - Market expansion plans include entering three new provinces, targeting a 10% market share in these regions within two years [200]. - The company plans to push forward the international registration of heparin injections, focusing on the U.S. and EU markets, with recent registrations in Bolivia and Uzbekistan [156].