GYBYS(SH:600332)2024-03-22 16:00Financial Performance - The company achieved a consolidated net profit attributable to shareholders of RMB 4,055,678,691.49 for the year 2023, with the parent company reporting a net profit of RMB 1,684,022,544.74[4]. - The company's revenue for 2023 reached RMB 75,515,404 thousand, an increase of 6.68% compared to RMB 70,788,155 thousand in 2022[19]. - Net profit attributable to shareholders for 2023 was RMB 4,055,679 thousand, reflecting a growth of 2.25% from RMB 3,966,522 thousand in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 9.53% to RMB 3,635,521 thousand from RMB 3,319,308 thousand in 2022[19]. - The company reported a total profit of RMB 5,110,498 thousand for 2023, which is a 1.33% increase year-on-year[28]. - The company's total liabilities increased by 2.15% to RMB 41,909,054 thousand from RMB 41,027,441 thousand in 2022[19]. - The return on equity for 2023 was 11.61%, a decrease of 0.76 percentage points from 12.37% in 2022[21]. - Basic earnings per share for 2023 were RMB 2.495, up from RMB 2.440 in 2022, representing a growth of 2.25%[21]. - The asset-liability ratio improved to 53.33% in 2023, down from 54.95% in 2022, indicating better financial stability[21]. - The company achieved a total revenue of RMB 75,515,404 thousand in 2023, representing a year-on-year growth of 6.68%[49]. Dividends and Profit Retention - A cash dividend of RMB 0.749 per share (including tax) is proposed, totaling RMB 1,217,717,420.80, based on a total share capital of 1,625,790,949 shares as of the end of 2023[5]. - The company plans to retain the remaining undistributed profits for future allocation, with no capital reserve fund conversion into share capital for this year[5]. - The company has a retained undistributed profit of RMB 8,389,265,344.67 at the end of the reporting period after accounting for the cash dividend and statutory surplus reserve[4]. Risk Management and Compliance - The report indicates that there are no significant risks that materially affect the company's production and operations during the reporting period[5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders and their related parties[5]. - The financial report has been audited by Da Xin Accounting Firm, which issued a standard unqualified audit report[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the financial report[4]. - The company has implemented a comprehensive risk management system to identify, assess, and manage significant risks, ensuring effective internal controls and regular reporting to the board[136]. - The internal control and risk management systems have been evaluated as sufficient and effective by the audit committee, confirming compliance with corporate governance codes[135]. Research and Development - The company invested RMB 782 million in R&D expenses for the year 2023[32]. - The company has established 3 provincial-level and 1 municipal-level research platforms[32]. - The company has 5 national-level R&D institutions and 17 provincial-level technology centers, enhancing its technological innovation capabilities[53]. - The company has a total of 154 ongoing research projects, focusing on new drug development and consistency evaluation of generic drugs[96]. - The major R&D project for rabies vaccine development saw an investment of RMB 68,290.30 thousand, reflecting a significant increase in R&D efforts[105]. Market Expansion and Product Development - The company launched new health products, including various flavored herbal teas and fruit juice beverages, to expand its product offerings[30]. - The company expanded its retail network, increasing the number of retail outlets to 157, with 51 designated for dual-channel operations[29]. - The company is actively pursuing internationalization by participating in international exhibitions and accelerating local adaptations of its products[30]. - The company is investing in new healthcare projects, including hospitals and healthcare service companies, to enhance its market presence[46]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[159]. Corporate Governance - The company has a governance structure that guarantees equal rights for all shareholders, especially minority shareholders[145]. - The company has established a written service contract for each director and supervisor, with a term of approximately three years[185]. - The company maintains liability insurance for directors, supervisors, and senior executives to provide protection against legal actions[186]. - The board is responsible for formulating and reviewing corporate governance policies and compliance with legal regulations[195]. - The company has appointed independent non-executive directors with extensive experience in various medical and financial fields, enhancing governance and oversight[161][162][163][164]. Financial Management and Compensation - The total compensation for the chairman, Li Chuyuan, was RMB 1,743.68 thousand for the reporting period[173]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was RMB 20,824.85 thousand[181]. - The remuneration decision process for directors and senior management involves the board's remuneration and assessment committee, which proposes remuneration based on industry standards and company performance[179]. - The company’s independent directors' remuneration is determined based on proposals approved by the shareholders' meeting[181]. Operational Efficiency and Cost Management - The company aims to enhance management efficiency and reduce production costs through optimization strategies[34]. - The company has established a unified procurement platform to enhance cost efficiency and risk management in sourcing raw materials[41]. - The cost of raw materials accounted for 74.20% of total costs, with a slight decrease in the proportion compared to 75.85% in the previous year[63]. - The company is focused on advancing its research and development capabilities, including new drug development and collaboration with hospitals and research institutions[121].