Cosunter(SZ:300436)2021-03-31 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥368.49 million, a decrease of 11.18% compared to ¥414.87 million in 2019[16]. - The net profit attributable to shareholders for 2020 was approximately ¥14.82 million, an increase of 38.01% from ¥10.74 million in 2019[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥1.47 million, a significant increase of 141.62% compared to a loss of ¥3.53 million in 2019[16]. - The net cash flow from operating activities for 2020 was approximately ¥15.60 million, a decrease of 54.11% from ¥33.99 million in 2019[16]. - The total assets at the end of 2020 were approximately ¥1.01 billion, an increase of 12.27% from ¥895.88 million at the end of 2019[16]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥576.60 million, a slight increase of 1.95% from ¥565.58 million at the end of 2019[16]. - The basic earnings per share for 2020 were ¥0.1059, an increase of 38.07% from ¥0.0767 in 2019[16]. - The diluted earnings per share for 2020 were ¥0.1056, an increase of 37.68% from ¥0.0767 in 2019[16]. - The weighted average return on equity for 2020 was 2.60%, an increase of 0.52% from 2.08% in 2019[16]. - The company reported a non-operating loss of CNY 2,182,664.24 from the disposal of non-current assets, primarily due to the loss from the transfer of land and related properties by its subsidiary[22]. Market and Product Development - The sales volume of Entecavir increased by 421.19% year-on-year, while Adefovir sales volume grew by 99.15%, significantly enhancing market share[25]. - The company is the only domestic enterprise with four major nucleoside antiviral drugs for hepatitis B, all of which have passed consistency evaluations, strengthening its competitive advantage[25]. - The company aims to transform into an innovative pharmaceutical enterprise, focusing on the development of drugs for liver health, including hepatitis B, hepatitis C, and liver cancer[24]. - The company actively participates in national drug centralized procurement to increase product market share[25]. - The company has submitted supplementary materials for the production registration application of TAF (Tenofovir Alafenamide) and is currently under review[28]. - The company has completed the consistency evaluation for Sofosbuvir tablets and submitted supplementary materials for its production registration application, which is also under review[29]. - The company has made significant progress in the innovative drug sector, focusing on liver health, with a leading investment ratio in R&D and multiple breakthroughs in liver cancer and non-alcoholic fatty liver disease[33]. - The novel liver cancer targeted drug GST-HG161 has shown promising results in early clinical trials, with a good safety profile and potential efficacy against various cancers, currently preparing for Phase Ib/II clinical trials[34]. - The innovative drug GST-HG151 for non-alcoholic fatty liver disease has demonstrated significant anti-fibrotic effects and has received clinical trial notification in April 2019[35]. - The company has proposed a clinical cure roadmap for hepatitis B, aligning with international consensus, and is advancing multiple innovative drugs targeting HBV[36]. Research and Development - The company has completed the consistency evaluation of the in vitro quality and in vivo efficacy for Sildenafil Citrate Tablets, with the production registration application accepted by the National Medical Products Administration in July 2019[30]. - The company has also completed the consistency evaluation for Tadalafil Tablets, with the production registration application accepted in August 2020 and currently under review[31]. - The company has made significant progress in its key R&D projects, including the registration of raw materials for Sofosbuvir and the completion of bioequivalence (BE) tests for Sofosbuvir tablets, enhancing its competitiveness in the liver disease treatment market[71]. - The company has maintained a stable research and development workforce, with 82 personnel, representing 11.58% of total employees, ensuring continued focus on innovation[90]. - Research and development expenses amounted to ¥59.14 million, representing 16.05% of total revenue, highlighting the company's commitment to innovation[90]. Strategic Initiatives - The company plans to continue expanding its product pipeline and optimizing product structure through both internal growth and external expansion strategies[24]. - The company plans to raise up to 550 million yuan through a private placement of up to 28 million A-shares to enhance its manufacturing capabilities and support innovation[68]. - The company is actively developing new products, including a novel liver cancer targeted drug GST-HG161, which has received drug approval and is preparing for multi-center expansion trials[72]. - The company aims to enrich its product line and enhance market competitiveness through the development of innovative drugs targeting liver diseases[72]. - The company is focusing on optimizing its asset structure and enhancing its core pharmaceutical business through strategic initiatives[71]. Corporate Governance and Shareholder Relations - The company has established a strict product quality assurance system, achieving a 100% pass rate for all products and a 100% compliance rate in drug sampling inspections by national regulatory authorities[64]. - The company’s board of directors approved the profit distribution plan for 2020 on March 30, 2021, which is pending shareholder approval[123]. - The company has not distributed cash dividends for the past three years, maintaining a consistent policy of retaining profits for business expansion and innovation[124]. - The company’s cash dividend policy aligns with its articles of association and shareholder resolutions, ensuring compliance and transparency[121]. - The company has committed to repurchase all new shares issued in its initial public offering if any legal violations occur, ensuring investor compensation for losses due to misleading statements in the prospectus[127]. Social Responsibility and Community Engagement - The company donated 10,000 boxes of Silybin Phosphate tablets to hospitals in Wuhan for COVID-19 clinical auxiliary treatment[27]. - The company actively participates in social welfare activities, including donations and educational support, fulfilling its corporate social responsibility[159]. - The company emphasizes employee rights protection, ensuring compliance with labor laws and providing benefits such as health check-ups and training[158]. Financial Management and Risk Assessment - The company acknowledges risks related to industry policies, global drug development, market competition, and acquisition integration, and plans to implement measures to mitigate these risks[112][113][115][116]. - The company aims to reduce financial costs and ensure sufficient funds for ongoing operations and research and development by retaining undistributed profits[124]. - The company is focused on building a robust corporate structure to support its strategic initiatives and market expansion efforts[200].