XJZY(SZ:002332)2024-04-24 12:54Financial Performance - In 2023, the company achieved operating revenue of CNY 4,123.42 million, a year-on-year decrease of 5.85%[23]. - The net profit attributable to shareholders was CNY 563.08 million, down 24.86% compared to the previous year[23]. - The weighted average return on net assets was 10.06%[23]. - The net profit after deducting non-recurring gains and losses was CNY 537,526,425.95, reflecting a 12.14% decrease from the previous year[138]. - The basic earnings per share for 2023 was CNY 0.57, a decline of 24.76% compared to the previous year[138]. - The company experienced its first annual decline in operating performance since 2015, attributed to the impact of centralized procurement and intensified competition in the raw material drug market, leading to a decrease in sales prices[80]. - The company reported a non-operating income of ¥25,557,067.20, significantly lower than the previous year's figure of ¥137,609,898.48[124]. - The company’s operating revenue for 2023 was CNY 4,123,418,584.19, a decrease of 5.85% compared to the previous year[138]. Revenue Segmentation - The total revenue for the raw materials segment reached ¥1,786,178,433.68, representing a year-on-year increase of 26.21%[41]. - The formulation segment generated revenue of ¥2,278,091,400.81, with a year-on-year growth of 73.24%[41]. - The total revenue from other segments amounted to ¥15,188,752.85, reflecting a year-on-year increase of 72.01%[41]. - The revenue from formulation sales was 2.278 billion yuan, down 12.4%, while the self-operated formulation sales revenue was 2.109 billion yuan, down 15%[186]. - The revenue from raw materials and intermediates was 1.786 billion yuan, an increase of 3%, with self-operated raw material sales revenue at 880 million yuan, up 10%[186]. - Domestic sales decreased by 9.06% to approximately $2.94 billion, accounting for 71.41% of total revenue[200]. - International sales increased by 3.25% to approximately $1.18 billion, representing 28.59% of total revenue[200]. Investment and R&D - The company reported a significant increase in investment, with a total of CNY 66.32 million, representing a 194.75% increase year-on-year[22]. - Research and development expenses totaled ¥260,996,011.23, accounting for 6.33% of total revenue, an increase from 6.09% in the previous year[52]. - The company has multiple ongoing R&D projects aimed at expanding its gynecological and reproductive product lines, with several projects (C012, C013, C083, C093, C095, C106, C107, C108, C109) in the process of obtaining drug approvals[56]. - The company has established an open R&D platform with multiple subsidiaries, enhancing its R&D capabilities in complex formulations and active pharmaceutical ingredients[181]. - The company has made significant progress in product registration, with 13 projects entering clinical trials and 11 projects in the review stage[196]. - The company completed new product or consistency evaluation applications for six products, including Dydrogesterone tablets, and received approvals for three new products during the reporting period[159]. Compliance and Quality Management - The company successfully passed the FDA inspection with a "zero defect" rating, marking a significant milestone in quality management[27]. - The company maintains strict compliance with GMP standards throughout its production processes to ensure product quality and safety[154]. - The raw material drug manufacturing facility successfully passed certifications from the US FDA, WHO, and Japan, laying the groundwork for future expansion into high-end markets[80]. Market Strategy and Operations - The company is focusing on internationalization and improving compliance management to enhance product quality and market competitiveness[27]. - The company has established a three-segment sales model focusing on self-operated sales teams, local distributors, and e-commerce channels[155]. - The company is committed to a market-oriented approach to enhance operational efficiency and product quality, fostering a unique corporate culture centered on craftsmanship[76]. - The company is enhancing its sales capabilities and digital operations, focusing on specialized academic promotion for new products and improving the sales system to ensure long-term sustainable growth[171]. - The company aims to enhance its market response speed and customer service capabilities through a three-line linkage mechanism in research, production, and sales, while also exploring new markets and customer opportunities[174]. Financial Management - The net cash flow from operating activities was ¥595,482,358.68, a decrease of 2.27% compared to the previous year[55]. - The total cash inflow from investment activities dropped by 93.75% to ¥54,341,332.57, primarily due to the absence of structured deposit redemptions this period[55]. - The total cash outflow from financing activities decreased by 37.17% to ¥465,225,230.83, mainly due to reduced loan repayments and increased dividend distributions[55]. - The company has a significant amount of short-term loans, which decreased from 37,398,657.51 yuan to 1,030,807.61 yuan, indicating improved debt management[66]. - The company has committed to repay bank loans totaling CNY 18 million, with 100% of the funds allocated for this purpose already utilized[94]. Corporate Recognition and Achievements - The company received multiple accolades, including being named one of the "Top 100 Pharmaceutical Companies in China" and recognized as a "National Enterprise Technology Center" by the National Development and Reform Commission[77]. - The company has received verification of the raised funds from Tianjian Accounting Firm, confirming the amount raised and its usage[92]. - The company achieved a silver medal rating of 59 points in EcoVadisd, reflecting its commitment to corporate social responsibility[199].