Wolwo Pharma(SZ:300357)2021-04-27 16:00Revenue and Profit Performance - During the reporting period, the company's sales revenue and net profit experienced a slight decline due to the impact of the COVID-19 pandemic[11]. - The company's operating revenue for 2020 was approximately ¥636.21 million, a decrease of 0.49% compared to ¥639.35 million in 2019[32]. - The net profit attributable to shareholders for 2020 was approximately ¥278.45 million, down 6.65% from ¥298.30 million in 2019[32]. - The net profit after deducting non-recurring gains and losses was approximately ¥261.47 million, a decrease of 11.14% compared to ¥294.24 million in 2019[32]. - The net profit for the fourth quarter of 2020 was approximately ¥49.32 million, compared to ¥122.08 million in the third quarter[35]. - The total net profit for the year included non-recurring gains of approximately ¥16.97 million, significantly higher than the previous year's ¥4.06 million[38]. - The company's revenue for the reporting period was approximately ¥636.21 million, a decrease of 0.49% compared to the previous year[70]. - Revenue from pharmaceutical manufacturing was ¥633,418,932.57, accounting for 99.56% of total revenue, with a slight decrease of 0.17% year-over-year[79]. Product Development and R&D - The new product "Artemisia Flower Pollen Allergen Sublingual Drops" received regulatory approval on January 30, 2021, but large-scale sales will take time[12]. - The company is committed to accelerating the R&D process for new drugs to minimize development risks and enhance market competitiveness[16]. - The total R&D investment for the year was ¥78,638,900, accounting for 12.36% of operating revenue[56]. - The company has developed a proprietary stem cell culture system, enhancing its capabilities in stem cell research and production[51]. - The company is advancing multiple products in the allergy treatment field, with several in Phase III clinical trials[62]. - The company is entering significant medical product fields such as cell therapy, natural medicine, and medical artificial intelligence, aiming to form new product clusters in 2-3 pharmaceutical areas over the next decade[185]. - The company is focused on improving corporate governance structures and enhancing information disclosure quality to ensure compliance with legal requirements[188]. Financial Management and Cash Flow - The net cash flow from operating activities increased by 10.00% to approximately ¥256.22 million from ¥232.93 million in 2019[32]. - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥71.21 million, a 122.95% improvement compared to the previous year[70]. - The net cash flow from investment activities improved significantly by 85.05%, resulting in a net outflow of ¥90,737,666.44 in 2020, compared to a much larger outflow in 2019[95]. - The company's total assets at the end of 2020 were ¥1.60 billion, an increase of 12.36% from ¥1.43 billion at the end of 2019[32]. - The proportion of trading financial assets increased to 19.13% of total assets, amounting to ¥307,033,893.91, due to increased investments in bank wealth management products[99]. Market Strategy and Sales - The company will strengthen its marketing efforts for existing leading products to mitigate external impacts and ensure sustainable growth[11]. - The company is focusing on academic marketing to enhance its market presence in the allergy treatment sector[46]. - The company aims to improve human quality of life and extend healthy lifespan through innovative pharmaceutical products, aspiring to become an international pharmaceutical industry leader[181]. - To expand market share and enhance brand influence, the company will intensify academic promotion efforts and participate in domestic and international academic conferences[187]. - The company is actively pursuing collaborations with hospitals for academic promotion and has established a new subsidiary focused on the sales of quasi-pharmaceutical functional products[67]. Regulatory Environment and Risks - Regulatory changes in the pharmaceutical industry are tightening, requiring companies to adapt to new quality management standards[10]. - The regulatory environment for the biopharmaceutical industry in China is tightening, impacting R&D, production, and sales[47]. - The pharmaceutical industry is facing increasing regulatory scrutiny, and the company will monitor policy changes to mitigate operational risks[191]. - The company acknowledges risks associated with new drug development, including lengthy regulatory processes and potential market acceptance issues[192]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.6 RMB per 10 shares, based on a total of 523,584,000 shares[16]. - The total cash dividend amount for the year was RMB 83,773,440, which accounted for 100% of the distributable profit[200]. - The company distributed cash dividends of RMB 1.80 per 10 shares, totaling RMB 94,245,120 for the year 2019[199]. - The cash dividend policy was strictly followed according to the company's articles of association[199].