SUNHERE(SZ:300452)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was ¥616,707,253.38, representing a 16.10% increase compared to ¥531,196,557.09 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥89,253,357.77, a decrease of 4.99% from ¥93,942,642.96 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥79,358,791.40, down 5.53% from ¥84,004,627.58 in the previous year[18]. - The net cash flow from operating activities increased by 21.36% to ¥103,823,162.32 from ¥85,551,579.27 in 2020[18]. - The total assets at the end of 2021 were ¥962,583,989.34, reflecting a 6.85% increase from ¥900,871,586.44 at the end of 2020[18]. - The net assets attributable to shareholders increased by 9.36% to ¥640,000,201.75 from ¥585,208,911.21 in 2020[18]. - The basic earnings per share for 2021 were ¥0.49, a decrease of 7.55% from ¥0.53 in 2020[18]. - The weighted average return on equity was 14.76%, down from 17.00% in the previous year[18]. - The company achieved operating revenue of 616.71 million yuan in 2021, representing a year-on-year growth of 16.1%[52]. - The net profit attributable to shareholders was 89.25 million yuan, a decrease of 4.99% compared to the previous year[52]. Market and Industry Insights - The pharmaceutical manufacturing industry in China achieved a revenue growth of 20.1% in 2021, with total profits increasing by 77.9%[30]. - The domestic pharmaceutical excipients market is projected to reach ¥140.6 billion by 2025, indicating significant growth potential[31]. - The global pharmaceutical excipients market is expected to reach $85.3 billion by 2023, highlighting the industry's expansion opportunities[31]. - The Chinese pharmaceutical market's growth is driven by factors such as an aging population and government policies encouraging the development of high-end formulations[30]. - The domestic market is gradually replacing imported excipients, driven by improved quality and cost advantages of local products[44]. Research and Development - The company holds 16 national invention patents and has applied for 2 additional patents during the reporting period[54]. - The company has developed 4 new pharmaceutical excipients, including anhydrous calcium hydrogen phosphate and microcrystalline cellulose carboxymethyl cellulose sodium[54]. - The company is focusing on technological innovation to meet the increasing demands for quality and cost in the pharmaceutical excipients industry[31]. - The company’s R&D investment amounted to ¥26,800,984.71 in 2021, representing 4.35% of total revenue, an increase from 3.41% in 2020[70]. - The company’s R&D team collaborates with several universities to enhance innovation and accelerate technology transfer[49]. Operational Strategies - The company has established a strict supplier selection standard, ensuring quality and stability in raw material procurement, which is crucial for maintaining production efficiency[37]. - The procurement strategy includes centralized purchasing for bulk raw materials to minimize costs and ensure quality, aligning with production plans[37]. - The company aims to expand its market presence through strategic partnerships and potential acquisitions in the pharmaceutical sector[36]. - The company emphasizes direct sales to downstream pharmaceutical and health product manufacturers, with a small portion of sales through distributors[39]. - The company is actively seeking to expand its international market presence, aiming to enhance the influence of Chinese pharmaceutical excipient brands through various international certifications[94]. Risk Management - The company faces risks including raw material price fluctuations and increased competition, which may impact future performance[5]. - The company recognizes the risk of raw material price fluctuations, particularly for corn starch and other agricultural products, which could adversely affect production costs and profit margins[98]. - The company is aware of the increased costs associated with international trade, including rising shipping fees and currency fluctuations, which could impact export profitability[99]. - The ongoing COVID-19 pandemic poses risks to production and international sales, with significant increases in raw material prices[101]. Corporate Governance - The governance structure of the company complies with relevant laws and regulations, ensuring fair treatment of all shareholders[110]. - The company has maintained independent operations, free from interference by controlling shareholders, ensuring the protection of minority shareholder interests[111]. - The company has established a comprehensive internal control system to ensure effective governance and risk management[115]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements[112]. - The company has a dedicated investor relations management system to improve transparency and protect shareholder rights[114]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[170]. - The total COD emissions for the company were reported at 113,492 kg, with a discharge concentration of 163.3 mg/l, well below the standard of 500 mg/l[170]. - The company has implemented measures to ensure that all emissions are within regulatory limits, with no instances of exceeding discharge standards reported[170]. - The wastewater treatment system at Qufu Tianli Pharmaceutical Auxiliary Materials Co., Ltd. has a designed capacity of 1,000 tons per day and has been operating normally, meeting discharge standards[173]. - The company has committed to energy conservation and emission reduction, setting annual targets and measures to continuously promote technological upgrades and reduce resource consumption[181]. Employee Relations - The company has maintained a harmonious labor relationship, ensuring employee rights and benefits through various welfare programs[179]. - The total number of employees at the end of the reporting period was 885, with 666 in the parent company and 219 in major subsidiaries[150]. - The company has established a differentiated salary system based on job value and professional capabilities[151]. - The company has a total of 573 production personnel, 78 sales personnel, 170 technical personnel, 14 financial personnel, and 50 administrative personnel[150]. - The company has implemented a stock incentive plan, granting 1,643,100 restricted stocks to 96 incentive objects[159].