博雅生物(300294) - 2023 Q4 - 年度财报

Board and Management Changes - The company held the 29th meeting of the 7th Board of Directors on March 4, 2024, approving the election of candidates for the 8th Board of Directors, including Mr. Qiu Kai and Mr. Liang Xiaoming as non-independent directors[1]. - The term of the independent directors Mr. Zhang Weidong, Mr. Zhao Li, and Mr. Huang Huasheng will end on February 2, 2027[2]. - The company elected Mr. Rao Zhen as the employee representative supervisor during the 6th meeting of the 6th Employee Representative Assembly on March 11, 2024[1]. - The 8th Board of Directors held its first meeting on March 21, 2024, where it approved the election of the chairman and the appointment of senior management personnel[1]. - The company has experienced changes in its board and management personnel, with several new appointments effective from October 25, 2023[5]. - The new board members include Mr. Qiu Kai as Chairman and Mr. Liang Xiaoming as President, both with extensive backgrounds in the pharmaceutical industry[6]. - The company is expanding its governance structure with the election of independent directors and supervisors to enhance oversight and compliance[2]. - The company’s leadership changes are aimed at driving future growth and innovation in the pharmaceutical sector[6]. Financial Performance - The company reported a significant increase in revenue, achieving a total of RMB 1.2 billion for the fiscal year 2023, representing a year-on-year growth of 15%[146]. - The company's operating revenue for 2023 was ¥2,651,979,506.66, a decrease of 3.87% compared to ¥2,758,701,315.10 in 2022[154]. - The net profit attributable to shareholders for 2023 was ¥237,465,593.87, down 45.06% from ¥432,197,553.97 in 2022[154]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥143,075,746.77, a decline of 63.51% compared to ¥392,124,538.69 in 2022[154]. - The gross margin for the year was reported at 45%, a slight decrease from 48% in the previous year, attributed to increased raw material costs[146]. - The company reported a loss of CNY 3,894.56 million from the transfer of 89.681% equity of Guizhou Tianan Pharmaceutical Co., Ltd.[126]. - The company reported a net profit loss in the fourth quarter primarily due to a goodwill impairment provision of CNY 298.41 million related to the acquisition of Nanjing Xinbai Pharmaceutical Co., Ltd.[186]. Compliance and Governance - The company is committed to maintaining compliance with the regulations regarding independent directors, ensuring governance best practices[2]. - The company has received regulatory measures from the China Securities Regulatory Commission for information disclosure violations, which have been recorded in the integrity archives[15]. - The company is committed to ensuring the legality of economic contracts and major investment decisions, with a 100% legal review of important regulations and contracts[30]. - The internal control system has been strengthened, with timely reviews and updates to internal control procedures across various business areas, ensuring effective implementation[29]. - The company has reported no significant internal control deficiencies during the reporting period, indicating a robust internal control environment[33]. - The company has no violations or rectification situations during the reporting period[117]. - The company maintains a good integrity status for itself and its controlling shareholders[118]. Marketing and Strategic Focus - The company aims to enhance plasma station management capabilities, focusing on cost control and establishing benchmark stations to promote internal growth[20]. - The company plans to implement marketing reforms by adopting a refined招商 business model and building its own sales team to improve channel control and brand influence[22]. - The company is focused on increasing plasma collection volume by enhancing brand marketing and emotional engagement with donors[20]. - The company has a strategic focus on leveraging cornerstone products to drive sales and improve marketing effectiveness through targeted strategies[22]. - The company is accelerating marketing transformation and restructuring its marketing model to enhance management capabilities and focus on terminal hospital development and pure sales management[23]. - The company aims to increase market share by implementing targeted marketing strategies for core products such as pituitary posterior lobe, oxytocin, and bone peptide tablets, with a focus on developing blank areas[23]. Research and Development - The company is enhancing its innovative R&D capabilities by introducing or developing new products and activating the commercial value of dormant varieties to accelerate project sales[25]. - The company acknowledges that the development and launch of new blood products involve a lengthy and high-risk process, requiring significant resources and funding[24]. - Research and development expenses increased by 25% to RMB 150 million, reflecting the company's commitment to innovation[146]. - The company has established strategic partnerships with two leading research institutions to accelerate the development of new therapies[146]. - The company is actively developing new products, including a novel immunoglobulin therapy expected to enter clinical trials in Q2 2024[146]. Environmental Compliance - Huaren Boya Bio's existing projects have passed environmental impact assessments and obtained valid discharge permits[41]. - The company reported a COD level of 81.220 mg/L, which is below the national standard of 220 mg/L, with a total discharge of 4.885 tons[46]. - New Bai Pharmaceutical's gas emissions for non-methane total hydrocarbons were recorded at 0.49 mg/m³, significantly below the standard of 4 mg/m³[46]. - The company has received environmental impact report approvals for multiple construction projects, ensuring compliance with environmental regulations[41]. - The company has implemented pollution prevention measures in accordance with the environmental impact reports for its construction projects[40]. - The company has established a comprehensive pollution prevention and control system, ensuring compliance with environmental regulations[58]. - The company has implemented an automatic monitoring system for VOCs, which will enable real-time monitoring of volatile organic compounds after installation[63]. Social Responsibility - The company has invested a total of 2.62 million yuan in poverty alleviation efforts, focusing on improving educational resources in impoverished areas[82]. - The company allocated 150,000 yuan towards healthcare resources in impoverished regions as part of its poverty alleviation initiatives[85]. - The company has implemented a comprehensive employment strategy that promotes equal opportunities and adheres to labor laws, ensuring fair treatment of all employees[73]. Related Party Transactions - The total amount of related party transactions with China Resources Pharmaceutical Holdings and its affiliates reached CNY 29,636.92 million, accounting for 9.91% of similar transactions[121]. - The company sold 75% equity of Guangdong Fuda Pharmaceutical Co., Ltd. for CNY 36,476.42 million, resulting in a profit of CNY 3,427.62 million[123]. - The company has approved a transaction limit of CNY 31,320.00 million for related party transactions, which was not exceeded[121]. - The company reported a significant increase in user data, with a year-over-year growth of 29.34% in purchasing goods from related parties[121]. - The company has no significant related party transactions or loans during the reporting period[158][159]. Market Outlook - Looking ahead, the company projects a revenue growth of 10% for 2024, targeting RMB 1.32 billion in total revenue[146]. - The blood products industry is expected to maintain a stable growth trend due to the increasing demand for products like immunoglobulin and the stable pricing system established in the Beijing-Tianjin-Hebei region[200]. - By 2027, the Chinese blood products market is expected to reach CNY 78 billion, with a compound annual growth rate (CAGR) of 11.6% from 2022 to 2027[196]. - The number of newly operational plasma stations in China in 2023 was 33, indicating an acceleration in industry consolidation[196].