Chimin(SH:603222)2024-04-25 08:59Financial Performance - In 2023, the company's consolidated net profit attributable to shareholders was -65,480,417.39 RMB, a significant decrease compared to a net profit of 34,455,153.35 RMB in 2022, representing a decline of 290.05%[5] - The total operating revenue for 2023 was 894,508,694.35 RMB, reflecting a year-over-year increase of 6.84% from 837,236,200.99 RMB in 2022[24] - The company's available distributable profits at the end of 2023 were 379,187,508.60 RMB, while the parent company's available distributable profits were 19,463,917.71 RMB[5] - The board of directors proposed no cash dividends or capital increase due to the negative net profit for the year[5] - The company reported a decrease in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to -67,802,004.87 RMB in 2023[24] - The company achieved total operating revenue of CNY 894.51 million in 2023, representing a year-on-year increase of 6.84%[27] - The net profit attributable to shareholders was a loss of CNY 65.48 million, with a loss of CNY 67.80 million after excluding non-recurring gains and losses[27] - The company reported a basic earnings per share of -CNY 0.12, a decrease of 271.43% compared to CNY 0.07 in 2022[26] - The weighted average return on equity decreased to -3.96%, down 6.76 percentage points from 2.80% in the previous year[26] - The net cash flow from operating activities was CNY 140.20 million, a decrease of 31.49% compared to CNY 289.49 million in the previous year[25] Revenue Segments - The revenue from core business operations, after excluding unrelated business income, was 891,236,636.07 RMB, which is a 6.71% increase from the previous year[24] - The medical services segment generated revenue of CNY 355.77 million, up 63.85% year-on-year, while the medical devices segment saw a decline of 27.24% to CNY 249.43 million[27] - The medical services segment achieved revenue of CNY 355.77 million, a year-on-year increase of 63.85%, with its revenue share rising from 26.00% to 39.92%[37] - The Boao International Hospital generated revenue of CNY 211.03 million, up 76.34% year-on-year, and turned a profit of CNY 33.26 million, reversing years of losses[38] - The Ezhou Second Hospital reported revenue of CNY 145.58 million, a growth of 48.94% year-on-year, with outpatient visits increasing by 32.89% to 139,470[39] - The medical device segment's revenue was CNY 249.43 million, down 27.24% year-on-year, with export revenue declining by 55.31% to CNY 125.77 million, while domestic sales increased by 101.36% to CNY 123.66 million[41] - The infusion segment reported revenue of CNY 286.04 million, a slight increase of 3.92% year-on-year, with the 3000ml sodium chloride injection contributing CNY 91.75 million, accounting for 32.08% of the infusion segment's revenue[42] Assets and Liabilities - Total assets decreased by 8.63% to CNY 2,479.98 million from CNY 2,714.08 million at the end of 2022[25] - The total assets at the end of the reporting period were CNY 2,479.98 million, with equity attributable to the parent company amounting to CNY 1,576.05 million, and a debt-to-asset ratio of 33.07%[36] - The company's cash and cash equivalents decreased by 61.32% to 548.37 million, primarily due to the usage of raised funds during the reporting period[84] - The company's fixed assets increased by 64.27% to 1,181.11 million, mainly due to the completion of construction projects by a subsidiary[85] - The company's short-term borrowings decreased by 43.92% to 125.13 million, attributed to a reduction in working capital loans[85] - The company's long-term equity investments increased by 77.72% to 171.06 million, driven by changes in the equity of a subsidiary[84] Research and Development - Research and development expenses were reported at 28.90 million yuan, a slight increase of 1.84% from the previous year[68] - The total number of R&D personnel is 162, representing 8.32% of the total workforce[80] - The company has a total of 19 authorized invention patents and 61 utility model patents as of the end of the reporting period, indicating a strong commitment to R&D[96] - The company's major R&D projects include large-volume infusion research with an investment of CNY 863.15 million and medical device research with CNY 1,597.02 million[106] - The company is focusing on the development of innovative drug delivery systems, including a nutritional infusion bag currently in the R&D phase[98] Corporate Governance and Compliance - The company has established a robust corporate governance structure, ensuring clear responsibilities and effective checks and balances among its governing bodies[126] - The company approved the 2022 annual financial report and profit distribution plan during the shareholder meetings[129] - The total remuneration for directors and senior management during the reporting period amounted to CNY 6.96 million[134] - The company maintained a stable shareholding structure with no changes in the number of shares held by directors during the reporting period[134] - The company has not reported any significant internal control deficiencies during the reporting period[162] Environmental and Social Responsibility - The company invested 3.6684 million yuan in environmental protection during the reporting period[165] - The company has a wastewater biochemical treatment facility with a capacity of 80 tons per day and an acid-base neutralization facility with a capacity of 1,440 tons per day, both operating normally and meeting environmental standards[169] - The company reduced carbon emissions by 495 tons by utilizing solar energy and implementing energy-saving technologies, saving 220,000 kWh of electricity[176] - The company has established a comprehensive emergency plan for environmental pollution incidents and conducted an emergency environmental drill on May 19, 2023[171] Market and Industry Outlook - The global medical device market is projected to reach nearly $600 billion by 2024, with the domestic market expected to rise to ¥1,229.5 billion[49] - The low-value medical consumables market in China is estimated to reach ¥118.4 billion, with a compound annual growth rate of approximately 17%[49] - The population aged 60 and above in China is 264 million, accounting for 18.7% of the total population, driving sustained growth in pharmaceutical demand[50] - The company aims to focus on the "big health industry" strategy, emphasizing the development of medical devices and services while gradually expanding into innovative drugs and consumer healthcare services[119] Risks and Challenges - The company faces industry policy risks, including changes in bulk procurement and medical insurance payment reforms, which may significantly impact operations[122] - The company acknowledges business and operational risks due to the lengthy and costly drug and medical device development processes[122] - The company is exposed to internationalization risks, including unfamiliarity with overseas markets and potential trade protectionism[123] - The company has committed to ensuring that it and its related parties do not engage in any business that competes with its core operations[180]