Fushine(SZ:300497)2021-04-23 16:00Product Development and Market Strategy - The company reported a significant focus on three main product series in the anti-infection drug sub-industry, including chemical synthetic enzyme inhibitors, carbapenem series, and lovastatin antiviral drug intermediates[7]. - The company plans to enhance its product line and extend downstream product development to ensure sustainable growth and market competitiveness[7]. - The company emphasizes the importance of R&D, committing to increase investment in product development while ensuring alignment with market needs[11]. - The company is actively engaged in new product development and market expansion in the biopharmaceutical sector[90]. - The company is focusing on expanding its production capabilities in the antibiotic sector, particularly in the development of new formulations and generic drugs[109]. - The company is advancing its sterile powder project funded by convertible bonds, which will support the production and sales of antibiotics[110]. - The company has ongoing research projects, including 7 products under development at Lingfu Pharmaceutical Research Institute, targeting various diseases such as pemphigus and Alzheimer's disease[60][61]. - The company has submitted registration documents for multiple products to the FDA and PMDA, with some products already approved for sale in various markets[42]. - The company is actively exploring upstream raw materials and downstream formulation sectors to create a comprehensive pharmaceutical supply chain[107]. - The company has initiated the development of a new enzyme inhibitor, Avibactam, which is expected to be a promising new β-lactamase inhibitor[108]. Financial Performance - The company's operating revenue for 2020 was approximately CNY 1.49 billion, representing a 10.26% increase compared to CNY 1.35 billion in 2019[26]. - The net profit attributable to shareholders for 2020 was approximately CNY 319.3 million, a 4.40% increase from CNY 305.8 million in 2019[26]. - The net profit after deducting non-recurring gains and losses was approximately CNY 286.8 million, showing a decrease of 3.05% from CNY 295.9 million in 2019[26]. - The net cash flow from operating activities increased by 13.15% to approximately CNY 382.4 million in 2020, compared to CNY 337.9 million in 2019[26]. - The total assets at the end of 2020 reached approximately CNY 4.05 billion, a significant increase of 55.85% from CNY 2.60 billion at the end of 2019[26]. - The net assets attributable to shareholders increased by 101.84% to approximately CNY 3.01 billion at the end of 2020, compared to CNY 1.49 billion at the end of 2019[26]. - The basic earnings per share for 2020 was CNY 0.70, a slight decrease of 1.41% from CNY 0.71 in 2019[26]. - The diluted earnings per share increased by 2.99% to CNY 0.69 in 2020, compared to CNY 0.67 in 2019[26]. - The weighted average return on net assets for 2020 was 17.72%, down from 23.84% in 2019[26]. - The company achieved a revenue of 1.493 billion RMB, representing a year-on-year growth of 10.26%[47]. Shareholder Returns and Dividends - The company has accumulated a total of 5,798,844 shares repurchased, with a proposed cash dividend of 2 RMB per 10 shares[13]. - The company distributed a cash dividend of 2 CNY per 10 shares, totaling 110,000,966.80 CNY, which represents 34.45% of the net profit attributable to ordinary shareholders for 2020[128]. - The cash dividend for 2019 was 56,763,821.60 CNY, which was 18.56% of the net profit for that year[128]. - The cash dividend policy complies with the company's articles of association and the requirements of the shareholders' meeting[124]. - The total distributable profit for the year was 935,050,945.85 CNY[128]. Risk Management and Compliance - The company acknowledges the risks associated with market competition and the need for continuous innovation in its product offerings[7]. - The company is committed to maintaining a robust internal control system to mitigate operational risks[6]. - The company is focused on ensuring safe production management and compliance with regulations amid market fluctuations[120]. - The company has established a three-party supervision agreement with the sponsor and the bank for the management of raised funds[94]. - The company will comply with legal regulations and company procedures when voting on related transactions at the board and shareholder meetings[131]. Environmental and Social Responsibility - The company is focused on environmental protection and has increased investments in pollution control to comply with stricter regulations[8]. - The company actively responded to the COVID-19 pandemic, providing nearly 500 tons of disinfectant and donating a total of 2 million RMB to pandemic-affected areas[57]. - The company has completed the GMP certification inspection for its raw material, Piperacillin, by the Jiangxi Provincial Drug Administration[165]. - The company reported a total COD discharge of 21.06 tons, which is below the regulatory limit of 120 mg/l, with no instances of exceeding discharge standards[161]. - The company invested over 20 million RMB in a waste gas RTO incineration system to enhance end-of-pipe treatment capabilities and reduce VOC emissions[163]. Corporate Governance and Shareholder Relations - The company has committed to compensating investors for any losses resulting from false statements or omissions in the prospectus[133]. - The company emphasizes the importance of timely rectification and public apology in case of any violations of commitments[132]. - The company aims to improve information disclosure and investor relations management in compliance with new regulations, ensuring shareholder alignment with corporate values[117]. - The company has established a long-term commitment to comply with regulatory requirements and ensure investor protection[136]. - The company is focused on enhancing its corporate governance by implementing strict measures against related party transactions[134]. Research and Development - The company has a dedicated R&D team of 271 members, accounting for 16.85% of the total workforce, ensuring a robust innovation capability[43]. - The company holds a total of 55 national patents, including 36 invention patents, and has recognized 22 products as provincial key new products[46]. - The company is committed to improving safety culture and employee safety awareness through comprehensive safety management practices[113]. - The company plans to allocate 50-60 PhD graduates from top 985 universities and globally ranked institutions for new drug development, aiming to achieve over 40 clinical I phase, 30 clinical II phase, 15 clinical III phase, and 5 commercialization projects within 2 years[115]. - The company is focused on building a talent development system to support high-quality growth, emphasizing the cultivation of innovative professionals[116].