Fushine(SZ:300497)2020-04-08 16:00Profit Distribution and Share Repurchase - The company reported a profit distribution plan, proposing a cash dividend of 2 RMB per 10 shares and a capital reserve conversion of 6 shares for every 10 shares held[15]. - The company has repurchased a total of 5,798,844 shares, which will be deducted from the total share capital for dividend calculations[15]. - The company completed a cash dividend distribution of 43,913,519.2 CNY, with a plan to distribute 2 CNY per 10 shares and issue 2 bonus shares per 10 shares[191]. - The total cash dividend for 2019 was 56,580,087.80 CNY, representing 18.50% of the net profit attributable to shareholders[121]. - The company reported a total of 4,917,904 shares repurchased, accounting for 2.19% of the total share capital, with a total payment of ¥86,174,278.20 (including transaction fees) as of May 31, 2019[84]. - The company’s stock repurchase program was initiated with a budget of 100 million to 200 million CNY, with a maximum repurchase price set at 20 CNY per share[194]. Financial Performance - The company's operating revenue for 2019 was ¥1,354,046,811.37, representing a 16.38% increase compared to ¥1,163,433,590.29 in 2018[26]. - The net profit attributable to shareholders for 2019 was ¥305,835,258.08, a significant increase of 57.06% from ¥194,724,797.03 in 2018[26]. - The net cash flow from operating activities reached ¥337,910,973.88, marking a 92.09% increase from ¥175,913,935.13 in 2018[26]. - The basic earnings per share for 2019 was ¥1.14, reflecting a 56.16% increase compared to ¥0.73 in 2018[26]. - The total assets of the company at the end of 2019 were ¥2,595,799,616.72, an 18.18% increase from ¥2,196,483,843.13 at the end of 2018[26]. - The weighted average return on net assets for 2019 was 23.84%, up from 18.88% in 2018[26]. Research and Development - The company is focusing on three main product series in the anti-infection drug sub-industry, including chemical synthetic enzyme inhibitors, carbapenem series, and antiviral intermediates[8]. - The company is gradually starting the R&D of sterile raw materials and formulations, aiming to enhance its product line and sustainable growth capabilities[8]. - The company plans to increase R&D investment to enhance its technological capabilities and ensure successful new product development[12]. - The R&D team consists of 287 members, accounting for 19.66% of the total workforce, supporting the company's innovation and development efforts[46]. - The company has ongoing research and development projects, including new antibiotics and innovative enzyme inhibitors, with several products reaching various stages of development[58]. - The company has initiated the development of a novel enzyme inhibitor, Avibactam, which is considered a promising new β-lactamase inhibitor[104]. Market Expansion and Competition - The company is actively expanding its international market presence, with foreign sales increasingly contributing to overall revenue[11]. - The company acknowledges risks related to environmental regulations and is committed to improving pollution control measures[10]. - The company is aware of market competition risks and is working to avoid potential adverse effects on operations from market growth limitations[8]. - The company aims to enhance its market share in the pharmaceutical intermediates and raw materials sector, focusing on antibiotics and antiviral products[100]. - Future strategies include expanding into the formulation sector while maintaining a strong position in the upstream raw material supply chain[101]. Environmental and Social Responsibility - The company has implemented environmental protection measures, including upgrading wastewater treatment facilities and enhancing solid waste recycling efforts[172]. - The company has not experienced any major environmental pollution incidents or violations during the reporting period[172]. - The company actively engages in social responsibility initiatives, including support for local impoverished communities and educational programs[167]. - The company donated CNY 2 million to charity and provided nearly 400 tons of disinfectant to local communities during the pandemic[169]. Corporate Governance and Compliance - The management team was successfully restructured, ensuring stable governance and operational continuity[52]. - The company has committed to fulfilling all promises made by shareholders and related parties during the reporting period[122]. - The company will implement a continuous and stable profit distribution policy, adopting an active cash or stock dividend distribution strategy[126]. - The company will ensure that related party transactions are conducted at fair market prices[126]. - The company has committed to compensating investors for any losses resulting from misleading statements in its prospectus[130]. Accounting and Financial Reporting - The company reported a significant change in accounting policies, impacting the classification of financial instruments, with a reduction of CNY 50 million in available-for-sale financial assets[132]. - The company executed new accounting standards affecting the measurement and reporting of financial assets, which included adjustments to retained earnings and comprehensive income[132]. - The company has adhered to the new financial reporting formats mandated by the Ministry of Finance, effective from April and September 2019[132]. - The company has not reported any non-operating fund occupation by major shareholders during the reporting period[131]. Investment and Capital Management - The company successfully issued convertible bonds with a total scale of up to CNY 420 million, aimed at expanding its production capacity for sterile drugs and upgrading environmental facilities[53]. - The company plans to use part of the idle funds to temporarily supplement working capital[65]. - The company utilized 100 million CNY of idle raised funds to invest in a wealth management product with a maturity date of December 16, 2019[185]. - The company plans to enhance profitability and fill the dilution of immediate returns to shareholders through strict management of raised funds, optimizing product and business structure, and accelerating project construction[127].