HNPOLY(SZ:300630)2021-04-26 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,188,603,424.51, representing a 25.10% increase from ¥950,095,207.86 in 2019 [22]. - The net profit attributable to shareholders for 2020 was ¥407,450,895.97, a 35.30% increase from ¥301,147,028.57 in 2019 [22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥380,235,764.93, up 34.14% from ¥283,461,483.69 in 2019 [22]. - The net cash flow from operating activities for 2020 was ¥332,075,817.29, a significant increase of 54.19% compared to ¥215,374,300.86 in 2019 [22]. - The total assets at the end of 2020 reached ¥3,055,999,316.62, marking a 77.64% increase from ¥1,720,306,871.36 at the end of 2019 [22]. - The net assets attributable to shareholders at the end of 2020 were ¥2,039,151,308.69, up 77.95% from ¥1,145,941,429.17 at the end of 2019 [22]. - The company reported a basic and diluted earnings per share of ¥0.94 for 2020, a 32.39% increase from ¥0.71 in 2019 [22]. - In 2020, the company achieved operating revenue of CNY 1,188.60 million, a year-on-year increase of 25.10% [77]. - The net profit attributable to shareholders reached CNY 407.45 million, up 35.30% year-on-year [77]. - Total assets increased to CNY 3,055.99 million, a growth of 77.64% compared to the previous year [77]. Dividend Distribution - The company plans to distribute a cash dividend of 1.87 RMB per 10 shares to all shareholders, based on a total of 437,029,279 shares [6]. - The total cash dividend distributed was RMB 81,724,475.17, representing 20.06% of the net profit attributable to shareholders [166]. - The company reported a distributable profit of RMB 842,731,626.18 for the year 2020 [163]. - Over the past three years, the cash dividend distribution has been consistent, with 2018 at RMB 38,467,050.30, 2019 at RMB 60,448,142.91, and 2020 at RMB 81,724,475.17 [166]. - The company has maintained a cash dividend payout ratio of approximately 20% over the last three years [166]. - The company has not proposed any capital reserve conversion or stock bonuses for the reporting period [163]. - The company has complied with its profit distribution plan as per its articles of association [162]. - The company’s profit distribution plan aligns with the legal requirements and internal regulations [162]. Research and Development - The company has a total of over 70 ongoing research projects, including generic drugs and improved new drugs [35]. - The company has a strong emphasis on R&D, with a dedicated expert committee guiding major technology projects and evaluations [69]. - R&D personnel increased by 24.81% year-on-year, significantly higher than the overall employee growth rate [82]. - Total R&D investment reached ¥283,151,872.64, representing 23.82% of operating revenue, an increase from 21.51% in 2019 [114]. - The company is focusing on developing generic drugs, with 25 projects classified as NP (New Product) and 12 as ANDA (Abbreviated New Drug Application) [89]. - The company is committed to increasing R&D investment, focusing on high-difficulty generic drugs with good future competitive landscapes, ensuring the launch of high-value products [152]. - The company is actively pursuing consistency evaluations for its products, as those that fail to meet standards may adversely affect future operations [156]. Market Expansion and Sales - The company has established a marketing network covering over 15,000 medical institutions across all provinces, cities, and autonomous regions in China, including more than 3,700 secondary and higher-level hospitals [69]. - The company has signed exclusive sales contracts with multiple distributors in Europe and the United States, expanding its international market presence [69]. - The company is actively pursuing market expansion with multiple projects in the pipeline, including 8 projects in the United States and 6 in the European Union [89]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain [175]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for potential M&A activities [175]. - The company plans to deepen its product chain in areas such as anti-allergy, anti-tumor, and cardiovascular medications while exploring international innovative drugs [86]. Production and Quality Control - The company has established a comprehensive GMP management system in compliance with standards set by the FDA, EMA, WHO, and NMPA, ensuring standardized production processes [50]. - The company has implemented strict quality control measures throughout the production process, ensuring compliance with high-quality standards [61]. - Quality inspections are mandatory for all incoming materials, ensuring compliance with national and internal standards before storage [46]. - The company has established a procurement model based on "production-driven purchasing," ensuring raw materials are acquired according to production plans and inventory levels [43]. - A strict supplier management system is in place, requiring suppliers to meet specific production qualifications and undergo regular evaluations [44]. Strategic Focus and Future Plans - The company’s strategic focus is on differentiation, integration of raw materials and formulations, and internationalization in high-end manufacturing [76]. - The long-term strategy includes dual submissions for innovative drugs in both the U.S. and China, targeting multiple therapeutic areas [152]. - The company is focusing on transitioning from international generic drugs to international innovative drugs, with a short-term strategy emphasizing high-end generic drug manufacturing and compliance in global production capabilities [150]. - The company is committed to expanding its international market presence despite the complexities of the current global situation [86]. Compliance and Governance - The company has maintained a continuous relationship with Tianjian Accounting Firm for 8 years, with an audit fee of 900,000 RMB [191]. - The company’s management has committed to ensuring that any misleading statements in the prospectus will lead to compensation for investors [184]. - The company has not faced any bankruptcy reorganization matters during the reporting period [192]. - The company reported no non-operating fund occupation by controlling shareholders during the reporting period [187]. Legal and Contractual Matters - The arbitration case with Zhongtian Construction involves a dispute over the construction cost of the injection production building, with an amount in dispute of 23.06 million yuan [193]. - The contract dispute with Nanjing Kavin Dishi has an amount in dispute of 3.66 million yuan, with no significant adverse impact on the company's main products or core patents [193].