BSBE(SZ:300406)2021-04-19 16:00Financial Performance - In 2020, the company achieved operating revenue of 848.12 million yuan, an increase of 0.86% compared to the previous year[8]. - The total profit for 2020 was 136.93 million yuan, a decrease of 64.15% year-on-year[8]. - The net profit attributable to ordinary shareholders of the parent company was 112.28 million yuan, down 66.15% from the previous year, primarily due to an increase in the proportion of high-margin instrument sales and increased donation expenses during the pandemic[8]. - The company's operating revenue for 2020 was ¥848,118,493.10, representing a 0.86% increase compared to ¥840,861,681.24 in 2019[38]. - The net profit attributable to shareholders for 2020 was ¥112,277,109.51, a decrease of 66.15% from ¥331,648,680.02 in 2019[38]. - The net profit after deducting non-recurring gains and losses was ¥120,249,943.85, down 61.67% from ¥313,749,323.41 in 2019[38]. - The net cash flow from operating activities was ¥123,058,597.01, a decline of 34.75% compared to ¥188,603,373.98 in 2019[38]. - The total assets at the end of 2020 were ¥3,963,667,036.44, an increase of 84.01% from ¥2,154,032,631.97 at the end of 2019[38]. - The company's net profit margin decreased to 13.24% in 2020 from 39.44% in 2019, indicating a significant decline in profitability[73]. - Basic earnings per share (EPS) dropped to 0.21 yuan in 2020 from 0.66 yuan in 2019, reflecting a decrease in earnings performance[73]. - The company's asset-liability ratio was reported at 13.63% in 2020, showing a stable financial position compared to previous years[77]. Market and Competitive Landscape - The in vitro diagnostic market is projected to grow from 648 billion USD in 2017 to 747 billion USD in 2020, with a compound annual growth rate of 4.7%[17]. - The domestic biochemical diagnostic market has seen over 50% market share from domestic manufacturers, indicating a competitive landscape[14]. - The company faces increasing competition in the in vitro diagnostic industry, necessitating continuous innovation and market adaptation to maintain its competitive edge[14]. - The IVD industry in China is expected to maintain a high growth rate, with a market size projected to reach approximately 430 billion yuan in 2016, indicating significant future potential[80]. - The company is witnessing a rise in market concentration as leading domestic enterprises improve their technological R&D capabilities and operational scale[83]. Research and Development - The company has increased its investment in research and development to adapt to changing customer needs and enhance competitiveness[10]. - The company's R&D investment in 2020 was CNY 79,055,482.90, an increase of 12.43% from 2019[59]. - The company has established a strong R&D team focused on in vitro diagnostic products, with various biochemical testing platforms[51]. - The company acknowledges the risks associated with the lengthy product registration process, which typically takes 1-2 years, and is investing in R&D to expedite this process[20]. - The company is committed to increasing investment in new product R&D and stabilizing its registration team to ensure timely market entry[20]. - The company is actively pursuing research and development in the field of diagnostics, as evidenced by the introduction of new assay kits and modifications to existing products[62][63][66][69][76][80]. Product Development and Innovation - The company is focusing on enhancing its product line through new product development and expanding its market coverage by strengthening sales networks and improving product quality[20]. - The company launched its own brand biochemical analysis systems, G92000 and G9800, to meet the needs of high, medium, and low-end customers, aiming to capture market share in biochemical diagnostics in 2020[68]. - The company is expanding its product offerings by penetrating other segments of in vitro diagnostics based on existing competitive advantages[83]. - The company is developing a range of new medical devices, including 27 products currently in the registration phase[85][88]. - The company has introduced multiple new diagnostic products, including the D-dimer calibration and quality control products, which are currently in the registration phase[99]. - The company is focusing on expanding its product line, including the launch of the full automatic coagulation analyzer MDC7500, which is designed for qualitative and quantitative analysis of hemostatic components[99]. - The company is committed to continuous innovation in diagnostic technologies, as evidenced by the introduction of multiple new reagent kits[22][23][33]. Acquisitions and Strategic Partnerships - The company completed the acquisition of Mai Xin, a leader in tumor pathology immunohistochemistry diagnostic reagents, which is expected to enhance service levels and competitive strength in the detection business[10]. - The company aims to optimize resource allocation in the acquired MaiXin business to achieve synergistic development and enhance competitive strength[52]. - The company established strategic partnerships with major firms such as Abbott and Roche, enhancing its market position in the IVD sector[66]. - The company has signed a strategic cooperation agreement with ELITech, aiming to leverage existing sales channels for global market entry[66]. - The company is exploring potential acquisitions to enhance its product portfolio, with discussions ongoing for two strategic targets[94]. Marketing and Sales Strategy - The company aims to expand its marketing network and improve product coverage through brand building and enhanced customer service[10]. - The company is actively expanding into overseas markets as part of its growth strategy[83]. - The company is enhancing its product offerings by penetrating other segments of in vitro diagnostics based on existing competitive advantages[83]. - The company is focusing on diversifying its product portfolio to capture more market share[83]. - The company is leveraging third-party testing laboratories to enhance its service offerings in the industry[83]. Financial Guidance and Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 25%[93]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a 20% year-over-year growth[93]. - User data indicates a 15% increase in active users, reaching 2 million users by the end of the fiscal year[93]. - The company is investing in R&D for new technologies, with a budget allocation of 200 million RMB for the upcoming year[94]. - Market expansion efforts are underway, targeting Southeast Asia with an expected market entry by Q3 2024[94]. - The company plans to increase its workforce by 15% to support growth initiatives and new product development[114].