Sito Bio(SZ:300583)2021-04-19 16:00Financial Performance - The company's net profit attributable to shareholders was -179,807,242.83 RMB, a decrease of 425.09% compared to the previous year[6]. - The company's revenue for 2020 was ¥913,187,604.30, a decrease of 5.45% compared to ¥965,800,380.65 in 2019[27]. - The net profit attributable to shareholders was -¥179,807,242.83, representing a decline of 425.09% from a profit of ¥55,309,472.92 in 2019[27]. - The company's basic earnings per share for 2020 was -¥1.68, a decrease of 423.08% from ¥0.52 in 2019[27]. - The weighted average return on equity was -10.31% in 2020, a decline of 13.35% compared to 3.04% in 2019[27]. - The company reported a total of ¥890,079,289.25 in revenue after deducting non-main business income for 2020[28]. - The company reported a total revenue of 327,621,730 for the period, with a net loss of 32,917,769[118]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 341.89% to ¥254,600,648.67 from ¥57,616,516.66 in 2019[27]. - The company experienced a significant increase in cash flow from operating activities in Q2 2020, reaching ¥175,833,629.63[30]. - The net cash flow from investing activities decreased by 321.91% to -¥29,228,833.40, mainly due to increased project construction payments[85]. - The net cash flow from financing activities decreased by 1,667.27% to -¥140,732,755.48, as loan repayments exceeded new loans during the period[86]. - The company reported a significant increase in finished drug sales, which rose by 277.34% to ¥93,788,143.41[69]. - The company has achieved a cumulative investment progress of 66.24% in its fundraising projects[104]. Strategic Focus and Market Position - The company is focusing on becoming a biotechnology enterprise integrating "pharmaceutical intermediates, active pharmaceutical ingredients, and finished formulations" as part of its long-term strategy[6]. - The company plans to increase investment in high-end specialty raw materials and expand its overseas market presence, particularly through its subsidiary Lisapharma[12]. - The company has established a strategic layout in the respiratory high-end specialty raw materials and formulation products, enhancing its market competitiveness[41]. - The global steroid hormone drug market has been growing at over 10% annually, with a market size exceeding $150 billion in 2020, indicating strong demand for steroid intermediates and raw materials[42]. - The company has successfully entered the formulation field through the acquisition of Lisapharma, establishing a full industry chain from intermediates to raw materials and formulations[44]. - The company aims to upgrade its industry strategy, focusing on high-end specialty raw materials and finished formulations[128]. Operational Challenges and Risks - The company faces industry risks due to increased competition and potential fluctuations in raw material and labor costs[10]. - The ongoing global pandemic may impact the company's business revenue and operational performance, particularly affecting Lisapharma[13]. - The company is actively adjusting its operational strategies to mitigate the adverse effects of the pandemic on its business[13]. - The company has maintained a strong market position in the steroid drug raw material sector despite increased competition and a significant sales decline in Q2 2020[58]. Environmental and Social Responsibility - The company is committed to environmental protection and will continue to improve production processes to reduce waste emissions[15]. - The company has maintained a high standard in environmental management and aims for zero accidents in production safety[133]. - The company actively engages in environmental protection, implementing effective waste management and promoting clean production practices[189]. - During the reporting period, the company donated a total of 250,000 to various charitable organizations and provided over 700,000 in pandemic prevention materials[190]. Governance and Compliance - The company has established a governance structure to enhance the responsibility and mission of senior management and core technical personnel[158]. - The company has fulfilled its commitments regarding the accuracy and completeness of information disclosure related to its stock incentive plan[149]. - The company has maintained a continuous audit relationship with Tianjian Accounting Firm for 9 years, with the current auditors having served for 1 year and 3 years respectively[153]. - There were no major lawsuits or arbitration matters during the reporting period[155]. Research and Development - The company focuses on the production of steroid drug raw materials using genetic engineering and microbial transformation technologies, positioning itself as a key supplier in China[36]. - The company has made significant progress in the research and development of respiratory high-end specialty raw materials, completing domestic registration for several products[59]. - The number of R&D personnel increased to 172, representing 15.49% of the workforce, reflecting a commitment to enhancing R&D capabilities[83]. - R&D investment focused on high-end specialty raw materials, with ongoing projects like Fluticasone propionate[80]. Shareholder Relations and Returns - The company will not distribute cash dividends or issue bonus shares for the current fiscal year[16]. - The cash dividend total for 2020 was 0.00 yuan, representing 0.00% of the total profit distribution[138]. - The company emphasizes shareholder returns while actively fulfilling responsibilities to employees, customers, and society, aiming for sustainable development[184]. - The company has committed to ensuring that the increase in cash dividend amount will at least match the growth rate of net profit if the net profit continues to grow steadily[148].