天宇股份(300702) - 2022 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of CNY 2,666.68 million in 2022, a growth of 4.78% compared to CNY 2,545.01 million in 2021[4] - The net profit attributable to shareholders was CNY -118.95 million, a decline of 158.12% year-on-year, while the net profit excluding non-recurring gains and losses was CNY -83.09 million, down 151.68%[4] - The company's operating revenue for 2022 was ¥2,666,678,471.80, an increase of 4.78% compared to ¥2,545,009,527.24 in 2021[26] - The net profit attributable to shareholders was -¥118,952,557.99, a decrease of 158.12% from ¥204,676,095.23 in 2021[26] - The cash flow from operating activities was -¥48,699,787.90, an improvement of 81.43% compared to -¥262,230,037.31 in 2021[26] - The total assets at the end of 2022 were ¥6,415,749,761.32, representing a 10.60% increase from ¥5,800,601,655.48 at the end of 2021[26] - The basic earnings per share for 2022 was -¥0.34, a decline of 157.63% from ¥0.59 in 2021[26] Revenue Breakdown - CDMO business revenue fell to CNY 263.08 million, a decrease of 52.79% year-on-year, primarily due to reduced customer demand and fewer orders[5] - The revenue from generic raw materials and intermediates was ¥2,350,005,129.0, accounting for 88.12% of total revenue, with a year-on-year increase of 19.66%[73] - The revenue from CDMO raw materials and intermediates decreased by ¥263,079,986.81, a decline of 52.79%, primarily due to reduced customer demand[75] - The revenue from formulations increased by ¥33,968,396.04, a significant rise of 754.85%, attributed to an increase in approved products and improved marketing channels[75] Inventory and Production - The company recognized inventory impairment losses of CNY 96.47 million based on the lower of cost and net realizable value principle[5] - The inventory of generic raw materials and intermediates increased by 37.90%, mainly due to expanded production capacity and longer production processes[79] - Inventory increased by 80.68% year-on-year, attributed to order shipment delays and early stockpiling for Q1 2023[80] Research and Development - R&D investment amounted to CNY 15,215.88 million, a 43.49% increase compared to the previous year, with a compound annual growth rate of 41.65% over the past three years[69] - The R&D investment for formulation business in 2022 was CNY 153 million, with 6 new drug approvals obtained, indicating strong development capabilities[3] - The company has established three R&D centers with a total area of approximately 8,000 square meters and employs around 280 R&D personnel, forming a comprehensive innovation system[57] Market and Competitive Position - The global pharmaceutical market size reached $1,424 billion in 2021, with a projected growth rate of 3-6% from 2022 to 2026[38] - The global biopharmaceutical R&D expenditure reached $198 billion in 2020, expected to grow at a CAGR of 4.2% to $254 billion by 2026[39] - The company is one of the largest producers of sartans, with a diverse product range including antiviral and anti-asthma raw materials, and has established long-term partnerships with major global pharmaceutical companies[42] Corporate Governance - The company held five board meetings during the reporting period, all convened by the chairman[134] - The board consists of 7 members, including 3 independent directors, complying with relevant laws and regulations[133] - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[134] - The company maintains independent operations in assets, personnel, finance, and business, ensuring no reliance on controlling shareholders[136] Environmental Compliance - Zhejiang Tianyu Pharmaceutical Co., Ltd. strictly complies with environmental protection laws, including the Environmental Protection Law and the Water Pollution Prevention Law[176] - The company has implemented measures to ensure that all emissions are within the regulatory limits, with no exceedances reported for various pollutants[178] - The total investment in environmental protection for the year 2022 amounted to 318 million yuan, including fixed asset investments related to environmental protection[186] Future Outlook - The company aims to achieve a revenue target of 250 million for the next fiscal year, representing a projected growth of 35%[143] - Future expansion plans include increasing production capacity while maintaining strict adherence to environmental standards[178] - The company is exploring potential mergers and acquisitions to enhance its market position and operational efficiency[178]