Financial Performance - The company's operating revenue for 2023 was ¥397,453,269.86, a decrease of 5.99% compared to ¥422,777,499.44 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥104,667,468.56, down 2.72% from ¥107,619,485.15 in 2022[22]. - The net cash flow from operating activities increased by 7.56% to ¥80,615,439.66 in 2023, compared to ¥74,949,397.32 in 2022[22]. - Total assets at the end of 2023 reached ¥1,340,950,789.82, reflecting a 137.08% increase from ¥565,484,619.74 at the end of 2022[23]. - The net assets attributable to shareholders increased by 166.36% to ¥1,249,334,654.85 in 2023, compared to ¥469,037,317.24 in 2022[23]. - Basic earnings per share for 2023 were ¥1.68, a decrease of 20.38% from ¥2.11 in 2022[22]. - The company reported a quarterly revenue of ¥114,281,599.16 in Q4 2023, with a net profit of ¥32,740,871.71 for the same quarter[28]. - The company recognized government subsidies amounting to ¥4,968,608.43 in 2023, down from ¥12,407,310.18 in 2022[29]. - The company achieved a sales revenue of 397.45 million yuan, a year-on-year decrease of 5.99%[40]. - The net profit attributable to shareholders was 104.67 million yuan, down 2.72% year-on-year; the net profit after deducting non-recurring gains and losses was 101.44 million yuan, a slight decrease of 0.14%[40]. Dividend Distribution - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders based on a total share capital of 68,000,000 shares as of December 31, 2023[4]. - The total number of shares for the dividend distribution is based on 68,000,000 shares, with a capital reserve increase of 4.8 shares for every 10 shares held[185]. - The company reported a cash dividend of 5.00 RMB per 10 shares, totaling 34,000,000 RMB, which represents 100% of the distributable profit[183]. - The company has not distributed dividends from previous years' distributable profits in 2023, adhering to its profit distribution policy[182]. - The company plans to prioritize cash dividends in future profit distributions, adhering to its articles of association and commitments made during its IPO[187]. - The company aims to enhance investor returns through various methods, including cash dividends and stock dividends, as part of its future strategies[187]. Research and Development - R&D expenses amounted to 18.84 million yuan, accounting for 4.74% of total revenue, representing a year-on-year increase of 19.50%[40]. - Research and development expenses increased by 19.50% during the reporting period, with 14 products under development, including 10 raw materials and 4 formulations[56]. - The company holds a total of 23 patents, including 21 invention patents and 2 utility model patents, with one new invention patent granted during the reporting period[56]. - The company plans to increase R&D investment and accelerate the development of cardiovascular, psychiatric, antiviral, and non-steroidal anti-inflammatory drugs[109]. - The number of R&D personnel rose by 8.11% to 80, with a significant increase in master's degree holders by 50.00% to 15[85]. Market and Industry Outlook - The pharmaceutical manufacturing industry in China generated revenue of 2.96 trillion yuan in 2023, with profits of 412.72 billion yuan, reflecting a 13% and 19.4% increase compared to 2019, respectively[36]. - The compound annual growth rate (CAGR) for the pharmaceutical market in China is projected to be 2.5%-5.5% from 2022 to 2026[35]. - The Chinese chemical raw material drug industry is expected to see a compound annual growth rate of 12% by 2028[37]. - The company benefits from the growth of the generic drug market, which is anticipated to drive demand for raw material drug companies[35]. - The ongoing healthcare reforms in China are expected to provide new growth opportunities for the pharmaceutical market[36]. Corporate Governance - The company emphasizes the importance of accurate financial reporting and has ensured the completeness and truthfulness of the annual report[4]. - The company is committed to improving corporate governance in accordance with relevant laws and regulations, ensuring transparency and protection of minority shareholders' rights[126]. - The company has established a modern corporate governance structure and internal control systems to enhance operational efficiency and information disclosure quality[126]. - The board of directors consists of 7 members, including 3 independent directors, meeting legal and regulatory requirements[128]. - The supervisory board has 3 members, including 1 employee representative, ensuring compliance with relevant laws and regulations[129]. Environmental Management - The company has established a complete environmental management system and pollution control facilities in accordance with national and local environmental protection laws[193]. - Haisen Pharmaceutical's wastewater discharge complies with the Class III standards of the "Comprehensive Wastewater Discharge Standards" (GB8978-1996) and other relevant regulations[193]. - The company has a wastewater treatment capacity of 1,500 tons per day, with all wastewater treatment facilities operating normally and meeting discharge standards[200]. - Haisen Pharmaceutical's air emissions meet various national standards, including the "Comprehensive Emission Standard for Air Pollutants" (GB16297-1996)[195]. - The company has implemented electronic tracking for hazardous waste disposal in compliance with regulations[194]. Investment and Capital Utilization - The company raised a total of RMB 756.16 million through the issuance of 17 million shares at a price of RMB 44.48 per share, with a net amount of RMB 675.72 million after deducting issuance costs[97]. - As of December 31, 2023, the company has utilized RMB 62.85 million of the raised funds, leaving a balance of RMB 622.29 million remaining[98]. - The main investment projects funded by the raised capital include a production line for 200 tons of Atorvastatin Calcium and the construction of a research and development center and office building[98]. - The company has approved the replacement of RMB 17.10 million of pre-invested funds with the raised funds, which was completed in August 2023[98]. - The company has allocated RMB 7.53 million of over-raised funds for supplementary working capital, which is essential for meeting the operational needs of new product expansions[100]. Risk Management - The management discussed potential risks and countermeasures in the future business outlook section of the report[4]. - The company faces risks related to high concentration in raw material procurement, which could impact production if supplier relationships deteriorate or if raw material prices rise significantly[114]. - The company acknowledges potential risks in fundraising projects due to uncertainties in industry policies and market conditions, and plans to adjust funding input based on external changes[118]. - The company has implemented measures to manage foreign exchange risks, including timely currency settlements and purchasing forward foreign exchange contracts[117]. Employee Management - The total number of employees at the end of the reporting period was 636, with 478 in production, 16 in sales, 80 in technical roles, 5 in finance, and 57 in administration[178]. - The educational background of employees includes 22 with postgraduate degrees, 115 with bachelor's degrees, 75 with associate degrees, and 424 with secondary vocational education or other qualifications[179]. - The company emphasizes a fair and competitive salary policy, combining basic and performance-based salaries for employees, with annual bonuses determined by operational performance and individual assessments[180]. - Training programs are tailored to operational needs, focusing on skill enhancement for operational staff and management training for leadership development[181]. - The company is committed to creating a learning-oriented environment, providing training opportunities for all employees to enhance their skills and knowledge[181].
海森药业(001367) - 2023 Q4 - 年度财报