Kawin Technology(688687)2024-04-09 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares, totaling approximately 41,858,848.75 yuan, which represents 35.92% of the net profit attributable to shareholders[6]. - The profit distribution plan has been approved by the board and will be submitted for shareholder approval[8]. - The company reported a cash dividend amount of CNY 41,858,848.75, which is 46.44% of the net profit attributable to ordinary shareholders[199]. - The total dividend amount, including cash buybacks, is CNY 54,117,937.58[199]. - The company has established a clear and complete decision-making process for its dividend policy[197]. - The company ensures that minority shareholders have the opportunity to express their opinions and protect their rights[197]. Financial Performance - The company's operating revenue for 2023 reached ¥1,412,006,182.85, representing a 21.73% increase compared to ¥1,159,973,577.75 in 2022[24]. - The net profit attributable to shareholders for 2023 was ¥116,524,994.34, a 39.71% increase from ¥83,407,819.44 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥122,577,218.12, up 124.62% from ¥54,570,001.90 in 2022[24]. - The basic earnings per share for 2023 was ¥0.70, a 42.86% increase compared to ¥0.49 in 2022[25]. - The diluted earnings per share also stood at ¥0.70, reflecting the same growth rate of 42.86% from the previous year[25]. - The total assets of the company increased by 10.79% to ¥2,448,207,848.87 at the end of 2023, compared to ¥2,209,724,972.77 at the end of 2022[24]. - The net assets attributable to shareholders rose by 4.67% to ¥1,753,884,582.61 at the end of 2023, compared to ¥1,675,556,748.68 at the end of 2022[24]. - The cash flow from operating activities for 2023 was ¥126,603,431.56, a decrease of 5.55% from ¥134,048,463.67 in 2022[24]. - The weighted average return on net assets for 2023 was 6.81%, an increase of 1.86 percentage points from 4.95% in 2022[25]. Research and Development - The company continues to focus on the development of innovative drugs and expanding its market presence, particularly in antiviral agents[24]. - The company's R&D expenditure accounted for 12.22% of operating revenue, a decrease of 1.01 percentage points compared to the previous year[26]. - The company applied for 25 invention patents and received 5 authorizations during the reporting period, totaling 53 authorized patents[37]. - R&D investment increased to CNY 172.58 million, up 12.45% year-over-year, accounting for 12.22% of revenue[37]. - The company is focusing on innovative drug development for functional cure combinations for hepatitis B[42]. - The company has formed a multi-target, multi-mechanism R&D pipeline for the treatment of viral hepatitis B, including projects like KW-001 and KW-027[59]. - The company is focusing on innovative drug development for hepatitis B functional cure and immune disease treatment[123]. Market and Sales Performance - The company achieved a total product sales revenue of ¥1,388,489,830.63 in 2023, representing a year-on-year growth of 21.71%[97]. - Chemical drug sales revenue increased by 92.66% year-on-year, primarily driven by the market expansion of hepatitis C products and significant growth in sales of 凯力唯® and 安博司®[95]. - The sales revenue of the product 凯力唯® increased by over 200% year-on-year in 2023, following its inclusion in the national medical insurance directory[72]. - The sales revenue from the four main regions (East China, Southwest, Central China, Northwest) accounted for 72.79% of total sales, with overseas revenue only contributing 0.10%[95]. - The company is focusing on market expansion and product structure adjustment in response to the evolving pharmaceutical procurement policies[95]. Risks and Challenges - The company has outlined various risks in the report, which investors should consider[4]. - The company faces risks related to new drug development, including potential clinical trial failures and regulatory changes[76]. - The company is at risk of losing core technical personnel due to increasing competition in the pharmaceutical industry[78]. - The company’s products face market competition from other direct antiviral drugs, which may impact their market promotion and commercialization[79]. - The company is exposed to risks from fluctuations in raw material supply and prices, which could adversely affect profitability[81]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has not disclosed any special arrangements for corporate governance[9]. - The company has provided a standard unqualified audit report from Zhonghui Certified Public Accountants[5]. - The company conducted 3 meetings of the Audit Committee during the reporting period, reviewing key financial reports and affirming compliance with accounting standards[184]. Employee and Management Information - The company has a total of 584 employees, with 381 in the parent company and 203 in major subsidiaries[187]. - The company has a total of 305 employees with a bachelor's degree or higher, representing approximately 52.2% of the total workforce[187]. - The total pre-tax remuneration for the chairman and president, Zhou Desheng, was 4.21 million CNY for the reporting period[160]. - The total pre-tax remuneration for the vice president and core technology personnel, Shi Jifeng, was 1.75 million CNY for the reporting period[160]. - The total pre-tax remuneration for the chief financial officer, Guo Wei, was 1.19 million CNY for the reporting period[160]. - The total pre-tax remuneration for the chief scientific officer, Wang Tao, was 2.68 million CNY for the reporting period, reflecting an increase due to stock incentive plan vesting[162]. Strategic Initiatives - The company aims to accelerate the sales of new products and increase market share in 2024, focusing on innovative drug development[146]. - The company is enhancing global technical and business cooperation through its Singapore subsidiary to register products in Southeast Asia[149]. - The company plans to implement a new marketing strategy, allocating an additional $10 million for digital marketing initiatives[167]. - The company plans to complete key construction phases of its antibody production base, ensuring efficient operation of the production line[151].