我武生物(300357) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 639,352,853.82, representing a 27.68% increase from CNY 500,744,692.07 in 2018[22]. - The net profit attributable to shareholders of the listed company for 2019 was CNY 298,296,581.56, up 28.09% from CNY 232,884,097.51 in 2018[22]. - The net profit after deducting non-recurring gains and losses was CNY 294,236,870.24, reflecting a 30.85% increase compared to CNY 224,864,128.66 in 2018[22]. - The net cash flow from operating activities was CNY 232,925,579.31, which is a 12.82% increase from CNY 206,452,525.31 in 2018[22]. - The total assets at the end of 2019 amounted to CNY 1,428,210,902.69, a 35.01% increase from CNY 1,057,892,508.68 at the end of 2018[22]. - The net assets attributable to shareholders of the listed company were CNY 1,270,995,838.35, up 31.10% from CNY 969,517,290.46 at the end of 2018[22]. - The basic earnings per share for 2019 was CNY 0.5697, an increase of 28.08% from CNY 0.4448 in 2018[22]. - The diluted earnings per share also stood at CNY 0.5697, reflecting the same growth of 28.08% compared to CNY 0.4448 in 2018[22]. - The weighted average return on equity for 2019 was 26.04%, slightly down from 26.63% in 2018[22]. Research and Development - The total R&D investment for the year was 68.74 million yuan, accounting for 10.75% of operating revenue, with 40.10% of R&D expenses capitalized[46]. - The company holds a total of 16 valid patents, including 13 domestic invention patents and 3 international patents[46]. - The company is focusing on the anti-aging and regenerative medicine sectors through its subsidiary, Shanghai Iwu Stem Cell Technology Co., Ltd.[34]. - The company is actively expanding its product line in the field of desensitization diagnosis and treatment, with ongoing clinical trials for multiple products[46]. - The company’s R&D expenses increased by 205.46% to ¥41,171,088.98, primarily due to intensified efforts in stem cell project development[67]. - The company completed the Phase III clinical trial for "Artemisia annua powder sublingual drops" for treating allergic rhinitis, with a summary report formed[1]. - The company announced a cash dividend of RMB 2.50 per share and a bonus issue of 8 shares for every 10 shares held, totaling a cash distribution of RMB 72.72 million and increasing total shares to 523.58 million[1]. Market Position and Product Development - The company has expanded its product coverage to over 30 provinces, cities, and autonomous regions in China[34]. - The new product "Artemisia annua pollen sublingual drops" has completed phase III clinical trials and a drug registration application has been submitted[34]. - The company maintains a leading position in the dust mite desensitization drug market, with its product "Dust Mite Drops" ranked first since 2011[38]. - The dust mite drop product accounted for 98.65% of total revenue, with sales reaching ¥630,742,058.06, up 27.50% from the previous year[55]. - The company is focusing on developing complementary products in the field of allergic diseases to maintain its competitive advantage[102]. Financial Management - The cost of sales decreased by 19.87% to ¥22,852,631.56 from ¥28,518,185.46, indicating improved cost management[49]. - The company reported a significant increase in financial income, with financial expenses decreasing by 115.28% to -¥24,064,368.34, attributed to a rise in bank interest income[49]. - The company’s tax expenses increased by 29.13% to ¥53,095,990.53, reflecting higher profitability[49]. - The company’s financing activities generated a net cash inflow of ¥63,780,000.00, a turnaround from a net outflow of -¥64,640,000.00 in the previous year, due to increased cash from minority shareholder investments[49]. - The company’s total operating costs were ¥639,352,853.82, with a year-on-year decrease of 19.87%[63]. Shareholder Returns - The company distributed cash dividends of RMB 72,720,000, with a payout of RMB 2.50 per 10 shares, and issued 232,704,000 bonus shares, increasing total share capital to 523,584,000 shares[114]. - The cash dividend for 2019 represents 31.59% of the net profit attributable to ordinary shareholders, which was RMB 298,296,581.56[118]. - The remaining undistributed profit after the dividend payout in 2019 is RMB 422,173,160.08, retained for operational needs[118]. - The company has consistently increased its total share capital through stock dividends, with an increase to 523,584,000 shares in 2019 from 290,880,000 shares in 2018[118]. Corporate Governance and Compliance - The company is committed to improving corporate governance and internal control systems to ensure legal and efficient operations[105]. - The company has adhered to its commitments regarding shareholding restrictions and has not violated any promises during the reporting period[119]. - The company has not encountered any bankruptcy restructuring matters during the reporting period[142]. - The company has maintained a continuous audit relationship with Ernst & Young Huaming for 5 years, with the current audit fee set at 700,000 CNY[141]. - The company has not reported any changes in the ownership and control relationship with the actual controlling shareholder during the reporting period[199]. Risks and Challenges - The company faces industry policy risks due to ongoing healthcare reforms, which may impact drug development, production, and sales, leading to increased competition and pressure on sales[108]. - The company acknowledges risks related to new drug development, including long cycles and high investment, which may affect operational stability if market needs are not met[110]. - The company anticipates challenges from price reductions in drug tenders, which may impact long-term sales strategies and overall performance[108].