Porton(SZ:300363)2022-03-25 16:00Company Operations and Workforce - The company operates 14 facilities and has a global workforce of over 3,700 employees, including more than 1,200 in R&D[4][5]. - The company has delivered over 1,700 projects globally and introduced 212 new clients and projects in the reporting period[6]. - User data showed an increase in active clients by 30%, reaching a total of 1,500 clients by the end of 2021[36]. - The company has served over 290 API projects and successfully advanced 20 projects to the next development stage[6]. - The company has served over 600 clients and delivered nearly 1,800 projects, covering major disease treatment areas such as antiviral, oncology, and immunology[67]. - The company added 113 new clients in 2021, bringing the total number of service clients to 277, with the top ten clients accounting for 63% of total revenue[82]. Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year growth of 25%[36]. - The company's operating revenue for 2021 was ¥3,105,149,629.68, representing a 49.87% increase compared to ¥2,071,875,421.80 in 2020[42]. - The net profit attributable to shareholders was RMB 200 million, an increase of 15% compared to the previous year[36]. - The net profit attributable to shareholders for 2021 was ¥523,915,383.33, a 61.49% increase from ¥324,416,211.29 in 2020[42]. - The net profit after deducting non-recurring gains and losses was ¥502,713,329.09, up 74.42% from ¥288,226,952.19 in 2020[42]. - The company aims to achieve a revenue target of RMB 1.5 billion for 2022, reflecting a growth forecast of 25%[36]. - The gross margin improved to 45%, up from 40% in the previous year, due to operational efficiencies[36]. - The company’s net profit attributable to shareholders was 524 million yuan, a year-on-year increase of 61%, with a net profit margin of 15.32%[80]. Research and Development - The company has invested RMB 300 million in R&D, focusing on gene and cell therapy technologies[36]. - R&D expenses increased by 67.15% to 264 million yuan, with a R&D expense ratio of 8.50%, reflecting a 52% growth in R&D personnel[81]. - The company operates eight R&D centers in China and the U.S., employing a total of 1,201 R&D personnel, with 1,098 in China and 103 in the U.S.[70]. - New product development includes a pipeline of 10 innovative drugs, with 3 expected to enter clinical trials in 2022[36]. - The company has established a digital laboratory system (E-Lab) aimed at enhancing research and development efficiency through digital transformation[110]. Market Expansion and Strategy - The company plans to expand its market presence in Europe and North America, targeting a 20% increase in market share by 2023[36]. - The company plans to expand its market presence in the CDMO industry, which is characterized by low concentration and high specialization[51]. - The company is focused on becoming the most open, innovative, and reliable pharmaceutical service platform globally, providing comprehensive CDMO services[8]. - The company’s strategic new businesses, although still in the capability-building phase, have started generating revenue, contributing to future growth opportunities[80]. Compliance and Safety - The company has a commitment to EHS (Environment, Health, and Safety) as a core competitive advantage, with annual training for employees and continuous improvement in process technology[14]. - The company is committed to maintaining compliance with GMP standards across all manufacturing facilities[36]. - The company has established a robust EHS management system, which is crucial for sustainable development in the CDMO industry[73]. Investment and Acquisitions - A strategic acquisition of a biotech firm was completed, enhancing the company's capabilities in biologics manufacturing[36]. - The company acquired 70% of Yuyang Pharmaceutical for CNY 171.5 million, which was completed on September 16, 2021, and included in the consolidated financial statements[123]. - The company invested a total of ¥1,011,815,424.69 during the reporting period, a 74.88% increase compared to the previous year[140]. Operational Efficiency - The company has automated approximately 75% of the operational units in its 109 workshop, enhancing operational efficiency and flexibility[110]. - The company’s production capacity grew by approximately 65% in 2021, reaching about 2,019 cubic meters[99]. - The company’s comprehensive capacity coverage rate improved to 72%, with production volume increasing by 25% year-on-year[106]. Challenges and Risks - New business segments have collectively reduced net profit by approximately 106 million RMB during the reporting period, indicating ongoing investment and development challenges[16]. - The company has faced foreign exchange losses of 39.77 million RMB in 2020, highlighting the impact of currency fluctuations on performance[15]. - The overall success rate of drug development has declined, with a rate of 9.8% in 2020, prompting pharmaceutical companies to increase their outsourcing of drug development to CDMO firms[56].