SYNERGY(SZ:300636)2024-04-24 12:44Financial Performance - The company's operating revenue for 2023 was ¥722,138,705.43, a slight increase of 0.31% compared to ¥719,908,426.87 in 2022[24]. - The net profit attributable to shareholders for 2023 was ¥105,983,257.15, representing a growth of 5.28% from ¥100,667,359.97 in 2022[24]. - The total assets at the end of 2023 reached ¥3,221,439,738.99, marking a significant increase of 42.61% from ¥2,258,855,478.13 in 2022[24]. - The basic earnings per share for 2023 decreased by 9.66% to ¥0.2786 from ¥0.3084 in 2022[24]. - The cash flow from operating activities for 2023 was ¥163,748,533.75, down 16.45% from ¥195,996,737.04 in 2022[24]. - The company reported a total of ¥7,844,053.05 in non-recurring gains for 2023, compared to ¥3,271,050.26 in 2022[30]. - The company's total revenue for 2023 was CNY 722.14 million, representing a year-on-year growth of 0.31%[77]. - The revenue from external sales reached CNY 575.12 million, an increase of CNY 29.14 million, or 5.34% compared to the previous year[77]. - CMO/CDMO business generated sales revenue of CNY 145.54 million, marking a significant increase of 31.28% year-on-year[77]. - The net profit for the year was CNY 105.98 million, reflecting a growth of 5.28% from the previous year[77]. Market Position and Strategy - The company is positioned in the pharmaceutical manufacturing industry, which is expected to grow significantly due to increasing healthcare demands in China[33]. - The market for specialty APIs and intermediates is projected to expand, with an estimated market growth of nearly ¥200 billion due to expiring patents of original drugs[34]. - The company is gradually transitioning to contract manufacturing for original drug developers, enhancing its market position[33]. - The company anticipates continued growth in the production and export scale of specialty APIs in the future[34]. - The CMO/CDMO market in China is projected to maintain a compound annual growth rate (CAGR) of over 18% from 2020 to 2025, with a market size exceeding 120 billion yuan by 2025[35]. - The company is actively expanding its market presence, particularly in international markets, to enhance revenue streams[7]. - The company is actively expanding its presence in international markets, particularly in Europe, North America, Japan, and South Korea, leveraging its experience with large international clients[38]. - The company is exploring opportunities in international markets to diversify its revenue streams and reduce dependency on domestic sales[153]. Research and Development - The company has an average R&D investment of 8.02% of sales over the past three years, indicating a strong commitment to innovation and technology development[38]. - The company actively invests in R&D across various therapeutic areas, including anticoagulants, antihyperglycemics, antihypertensives, and analgesics, expanding its product line[47]. - Research and development investment amounted to CNY 63.15 million, accounting for 8.75% of the total revenue, maintaining a high level of investment[77]. - The number of R&D personnel increased by 16.67% to 259, with the proportion of R&D staff in the total workforce rising to 19.02%[88]. - The company has obtained 4 new domestic invention patents during the reporting period, enhancing its intellectual property portfolio[61]. - The company has applied for multiple invention patents, with 8 patents already authorized, showcasing its commitment to innovation[152]. Operational Efficiency and Capacity - The company has over 600 reaction vessels with capacities ranging from 50 to 20,000 liters, totaling more than 3 million liters, showcasing its significant production capacity[36]. - The company has achieved wastewater treatment capacity of 1,500 tons/day and air treatment capacity of 30,000 cubic meters/hour at its first plant, demonstrating industry-leading environmental standards[37]. - The production process involves multiple stages, with dedicated workshops for high-demand products and multi-purpose workshops for others, optimizing production efficiency[52]. - The company completed the construction of the first phase of its new plant, which is expected to enhance production capacity further[73]. - The company has 12 synthesis workshops in the first plant and 4 in the second plant, with over 600 reaction vessels, indicating strong production capacity[67]. Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective coordination and checks and balances[137]. - The board of directors consists of 9 members, including 3 independent directors, complying with relevant laws and regulations[140]. - The company emphasizes information disclosure and investor relations management, ensuring accurate and timely communication with investors[142]. - The company has implemented a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal standards[143]. - The company has a complete set of governance rules and regulations, including articles of association and meeting rules, to enhance governance levels[137]. - The company has established a complete and independent financial institution, with a dedicated accounting team and an independent accounting system[146]. Risk Management - The company faces risks related to national policies and industry competition due to ongoing healthcare reforms and new pharmaceutical regulations[4]. - The company has not experienced major safety incidents but acknowledges potential risks associated with hazardous materials used in production[5]. - The company is subject to risks related to the renewal of essential operating licenses, which could impact its ability to produce and sell products[4]. - The company has implemented environmental management practices to comply with national standards, but increasing costs for waste treatment are anticipated due to stricter regulations[6]. Employee and Stakeholder Engagement - The company has a total of 1,362 employees at the end of the reporting period, with 694 in production, 27 in sales, and 510 in technical roles[170]. - The company has implemented a comprehensive training program aimed at enhancing employee skills and maintaining core competitiveness, including regular training and specialized technical training[173]. - The company emphasizes a performance-based culture, linking salary and bonuses to individual and company performance metrics[172]. - The company has established specific channels for investor communication, including dedicated phone lines and email addresses, to facilitate investor inquiries[142]. Future Outlook - The company plans to submit multiple product registration applications in various countries, including the US, Europe, and South Korea, in 2024[122]. - Future guidance indicates a focus on improving operational efficiency and increasing profit margins in the upcoming fiscal year[150]. - The company aims to improve operational efficiency, with a target to reduce costs by 5% in the upcoming fiscal year[131]. - The company plans to launch three new products in the next quarter, focusing on chronic disease management[131]. - The company is exploring potential acquisitions to strengthen its market position and diversify its product offerings[131].