BOJI CRO(SZ:300404)2023-04-25 16:00Financial Performance - Boji Medical Technology Co., Ltd. reported a total revenue of RMB 500 million for the fiscal year 2022, representing a year-over-year increase of 15% compared to RMB 435 million in 2021[21]. - The company achieved a net profit of RMB 80 million in 2022, which is a 20% increase from RMB 66.67 million in the previous year[21]. - The company reported a gross margin of 45% in 2022, maintaining a stable margin compared to 44% in 2021[21]. - The company's operating revenue for 2022 was ¥423,682,626.42, representing a 30.68% increase compared to ¥324,202,622.53 in 2021[25]. - Net profit attributable to shareholders decreased by 28.84% to ¥27,669,540.69 in 2022 from ¥38,882,189.38 in 2021[25]. - The total operating revenue for 2022 was ¥423,682,626.42, representing a year-on-year increase of 30.68% compared to ¥324,202,622.53 in 2021[58]. - The company reported a total shareholding of 110,137,043 shares at the end of the reporting period, with an increase of 31,659,155 shares due to annual equity distribution[126]. - The company plans to distribute a cash dividend of 0.1 yuan per 10 shares (including tax) based on a total of 368,717,683 shares, with no bonus shares issued[7]. Business Strategy and Expansion - The company is actively pursuing a diversified business strategy to reduce reliance on any single revenue stream[5]. - The company plans to expand its market presence in Southeast Asia, targeting a revenue contribution of 10% from this region by 2025[21]. - The company is expanding its business into preclinical research and CDMO services, facing competition from established players in these fields[6]. - The company aims to enhance its core competitiveness in clinical research by recruiting key personnel and ensuring 100% compliance in clinical trial projects[103]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of RMB 100 million allocated for this purpose[21]. - The company is focused on expanding its clinical trial teams in Beijing and Shanghai to improve project management capabilities and recruitment efficiency[104]. - The company aims to strengthen its clinical research services and expand into new drug development, particularly in oncology, immunology, and gene therapy areas[101]. Research and Development - Boji Medical is investing RMB 50 million in R&D for new drug development, focusing on oncology and autoimmune diseases[21]. - Research and development (R&D) investment amounted to CNY 43,676,568.67, representing 10.31% of total revenue, an increase from 8.53% in 2021[74]. - The number of R&D personnel increased by 38.82% to 211, accounting for 17.79% of the total workforce[73]. - The company aims to increase the proportion of innovative drug research and development to 80% through the establishment of a large-scale biological sample testing platform[72]. - The company has achieved a total of 30 drug research and development projects, obtaining 3 production licenses and 5 clinical research licenses[144]. Risk Management - The company acknowledges the risk of contract execution delays due to the complex nature of new drug development, which may lead to budget management challenges[4]. - The company emphasizes the importance of internal management and integration to mitigate risks associated with its expanding operational scale and business scope[7]. - The company has established specific responsibility-sharing models in contracts to address potential delays and associated penalties[6]. - The company is committed to strengthening internal training and talent reserves to adapt to policy changes in the pharmaceutical industry[3]. Corporate Governance - The company has established a supervisory board consisting of 3 members, including 1 employee supervisor, complying with legal requirements[119]. - The company maintains independence from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring independent financial decision-making[122]. - The company has implemented a comprehensive investor relations management strategy to enhance communication and maintain good relationships with investors[120]. - The company has a clear and independent governance structure, with no significant discrepancies from regulatory requirements[121]. Market Trends - The global pharmaceutical R&D investment is projected to grow from $243.7 billion in 2022 to $328.8 billion by 2026, with a CAGR of approximately 7.8%[35]. - The CRO market size is expected to increase from $719 billion in 2021 to $952 billion in 2023[35]. - The domestic CRO industry is projected to have a CAGR of approximately 26.5% from 2019 to 2024, reaching $22.2 billion by 2024[35]. Employee Management - The company has a comprehensive training system that includes various training categories to enhance employee skills and capabilities[164]. - The company has implemented a differentiated compensation policy based on department, position, and job nature, with performance-oriented salary management[163]. - The total number of employees at the end of the reporting period was 1,186, with 951 being technical personnel[162]. Compliance and Internal Controls - The company has adhered to national accounting standards for financial reporting, with external audits conducted to ensure the accuracy and completeness of financial statements[184]. - The company has developed a comprehensive quality management system for its CDMO business, successfully passing multiple inspections by the National Medical Products Administration[187]. - The internal control self-assessment report indicated that 100% of the total assets and operating income were included in the evaluation scope[190]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[194].