Jet Bio-Filtration(SH:688026)2024-04-19 09:54Financial Performance - The company's operating revenue for 2023 was approximately ¥463.1 million, a decrease of 24.06% compared to ¥609.8 million in 2022[14]. - The net profit attributable to shareholders for 2023 was approximately ¥34.8 million, down 60.34% from ¥87.7 million in 2022[14]. - The net profit after deducting non-recurring gains and losses was approximately ¥31.8 million, a decrease of 57.90% compared to ¥75.5 million in 2022[14]. - The net cash flow from operating activities for 2023 was approximately ¥134.8 million, down 18.88% from ¥166.2 million in 2022[14]. - The company's operating revenue for the current period is approximately CNY 463.10 million, a decrease of 24.06% compared to the previous year's CNY 609.82 million[118]. - The company's operating costs decreased by 22.70% to CNY 321.29 million from CNY 415.64 million in the previous year[118]. - The net cash flow from operating activities decreased by 18.88% to CNY 134.81 million compared to CNY 166.19 million in the previous year[118]. - The company's total operating revenue decreased by 25.55% year-on-year, with a total of 44,941.14 million RMB[156]. - The gross profit margin for the main business was 31.97%, a decrease of 0.12 percentage points compared to the previous year[156]. Assets and Liabilities - The net assets attributable to shareholders at the end of 2023 were approximately ¥1.16 billion, an increase of 1.54% from ¥1.14 billion at the end of 2022[14]. - Total assets at the end of 2023 were approximately ¥1.63 billion, an increase of 1.29% from ¥1.61 billion at the end of 2022[14]. - The company's total liabilities decreased by 38.47% in accounts payable, totaling 39,149,751.91 RMB[167]. - The company’s cash and cash equivalents at the end of the period amounted to 174,196,114.47 RMB[169]. - The company’s investment in financial assets at fair value increased to 28,766,904.16 RMB[182]. Market and Sales - The company's overseas market revenue was RMB 284 million, a year-on-year decline of 20.04%, while domestic market revenue was RMB 165 million, down 33.44%[28]. - The company’s sales revenue is primarily derived from foreign markets, with significant exposure to fluctuations in the RMB/USD exchange rate[117]. - The company has established a wide sales network covering both domestic and international markets, exporting to over 30 countries including the USA, Germany, and Australia[82]. - The company is focusing on expanding its overseas market through both ODM models and building its own brand[108]. - The company aims to enhance its market share and achieve domestic substitution in the life sciences consumables sector over the next three to five years[191]. Research and Development - R&D investment totaled approximately ¥28.51 million, accounting for 6.16% of operating revenue, showing a slight increase from the previous year[70]. - The company has applied for 32 patents and obtained 27 patents during the reporting period, bringing the total to 283 applications and 217 granted patents[93]. - The company has established a comprehensive R&D system from product initiation to production transition, ensuring product quality stability and maintaining competitiveness[54]. - The company focuses on upstream R&D and production of life science consumables, addressing user needs related to cell culture[49]. - The company has invested in a national-level technology center to enhance its product R&D and innovation capabilities[130]. Product Development - The company is expanding its product range to include biological reagents and small laboratory equipment, in addition to its core laboratory consumables[31]. - The company has developed a high-precision injection molding technology, utilizing a 350T fully electric injection molding machine with an injection speed of 500 m/s and a molding time of 15 seconds, achieving a tolerance control within ±0.05 mm[47]. - The company has developed new products including liquid storage and sampling series, bioprocess filtration and purification series, and specialized culture dishes for assisted reproduction, among others[66]. - Developed a series of large-capacity culture flasks and closed system accessories to meet the demand for large-scale cell culture in industrial production, achieving a project completion value of 590 million with a revenue of 589.04 million, indicating a 52.69% increase[98]. - Launched a multi-code cryopreservation tube that supports traceability and data sharing among users, with a project completion value of 600 million and revenue of 621.73 million, reflecting a 171.44% increase[98]. Quality Control and Production Efficiency - The company has established a comprehensive quality control process, including IQ, OQ, and PQ confirmations, to enhance product quality[124]. - To enhance production efficiency and quality, the company is implementing intelligent upgrades to production lines, including the introduction of high-end automation equipment[24]. - The company has introduced automation in the production process of disposable blood serum pipettes, improving production efficiency by 1.5 times through the automation of eight processes[47]. - The company aims to improve cost control through refined management and has optimized internal performance assessments to increase labor efficiency[26]. Competition and Market Risks - The company is facing increased competition and price wars in the industry due to excess capacity and the influx of new entrants, leading to price adjustments across various brands[58]. - The company faces risks related to market demand decline due to policy changes, intensified competition, inflation, and exchange rate fluctuations[111]. - The company faces potential sales declines in the U.S. market due to changing U.S.-China relations[150]. - The company is exposed to risks from fluctuations in raw material prices, particularly those derived from petroleum[136]. Recognition and Achievements - The company received a standard unqualified audit report from Tianjian Accounting Firm[2]. - The company has been recognized for its innovative contributions to the life sciences sector, particularly in cell culture technology[85]. - The company received recognition as a "National Intellectual Property Demonstration Enterprise" on November 29, 2023[67]. - The company was recognized as a "Manufacturing Single Champion Demonstration Enterprise" by the Guangdong Provincial Department of Industry and Information Technology in April 2023[91].