TSZY(SZ:002872)2024-04-25 15:47Financial Performance - The company's operating revenue for 2023 was ¥579,334,659.15, a decrease of 4.56% compared to ¥606,992,213.55 in 2022[22]. - The net profit attributable to shareholders for 2023 was -¥93,073,691.42, reflecting a 2.77% increase in losses from -¥90,563,424.65 in 2022[22]. - The cash flow from operating activities showed a significant decline, with a net outflow of -¥24,561,754.07 in 2023 compared to a positive inflow of ¥89,184,806.94 in 2022, marking a 127.54% decrease[22]. - The basic and diluted earnings per share for 2023 were both -¥0.2927, a 2.77% increase in losses from -¥0.2848 in 2022[22]. - Total assets at the end of 2023 were ¥2,810,906,249.36, down 5.35% from ¥2,969,827,475.68 at the end of 2022[22]. - The net assets attributable to shareholders decreased by 4.18% to ¥2,091,482,920.76 at the end of 2023 from ¥2,182,776,737.97 at the end of 2022[22]. - The company reported a total revenue of ¥540,558,184.57 after deducting other income for 2023, compared to ¥577,229,323.41 in 2022, indicating a decline of 6.35%[22]. - The company reported non-operating income of ¥6,041,782.61 in 2023, down from ¥15,102,067.30 in 2022, indicating a decrease of 59.93%[28]. - The company reported a total revenue of 10,029,593.97 in the current period, compared to 28,373,646.97 and 61,832,223.69 in the previous periods, indicating a significant decline[30]. - The company reported an operating loss of CNY -93,573,002.73, which is an increase in loss of 10.47% year-on-year[58]. - The company’s total assets as of December 31, 2023, were CNY 2,810,906,249.36, a decrease of 5.38% from the beginning of the year[59]. - The company’s equity attributable to shareholders was CNY 2,091,482,920.76, down 4.18% from the beginning of the year[59]. - The company’s asset-liability ratio stood at 25.45%[59]. - The company achieved a total revenue of CNY 579,334,659.15, a decrease of 4.56% compared to CNY 606,992,213.55 in 2022[63]. - The pharmaceutical manufacturing segment generated ¥523,420,449.08, accounting for 90.35% of total revenue, down 8.70% from the previous year[63]. - The revenue from pharmaceutical distribution surged by 334.26% to ¥17,137,735.49, representing 2.96% of total revenue[63]. - The gross profit margin for the pharmaceutical manufacturing sector was 47.42%, a decrease of 9.90% year-on-year[65]. - The total operating costs rose by 16.30% to ¥306,567,611, with the pharmaceutical manufacturing costs accounting for 89.77% of total costs[69]. - The company reported a significant increase in sales volume for small volume injections, which rose by 18.99% to 19,491,000 units sold[67]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency and cost management strategies[147]. Corporate Governance - The company maintains compliance with the Company Law and Securities Law, ensuring proper governance and protection of minority shareholders' rights[126]. - The company has adopted a combination of on-site meetings and online voting for shareholder meetings to ensure equal treatment of all shareholders[126]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[130]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[130]. - The company has implemented a "Quality Return Double Improvement" action plan, although specific details were not disclosed[124]. - The company has established a complete governance structure and decision-making procedures to mitigate operational risks[169]. - The company has a structured approach to evaluating the performance of its directors and senior management for remuneration purposes[150]. - The company has implemented strict internal control measures to enhance operational efficiency and risk management[61]. - The company has established a performance evaluation mechanism to enhance employee competitiveness while ensuring their legal rights[163]. - The company has a strategy in place to lock shares for investor compensation arrangements in case of legal violations[196]. - The company has maintained a commitment to legal compliance and has been fulfilling its obligations since November 2020[196]. - The company has not faced any administrative penalties or disciplinary actions related to the securities market in the last five years[196]. - The company has established a debt restructuring agreement with its controlling shareholder to address financial irregularities[127]. - The company has actively communicated with investors and ensured transparency in its governance practices[126]. Research and Development - The company has established a research institute that focuses on innovative drugs, improved new drugs, and deep development of traditional Chinese medicine[42]. - The company is committed to innovation in drug development, aligning with national strategies to improve healthcare and pharmaceutical services[35]. - The company will continue to increase R&D investment in traditional Chinese medicine and chemical drugs, focusing on high-end products and optimizing existing products[107]. - The R&D investment as a percentage of operating income was 5.34%, down from 5.65% in the previous year[77]. - Research and development expenses decreased by 9.79% to ¥30,916,051.19, reflecting a reduction in project investments and personnel[77]. - The number of R&D personnel decreased by 8.45% to 65, with a notable reduction in the 30-40 age group by 38.46%[77]. - The R&D expenditure increased by 30% year-over-year, totaling 150 million yuan, to support innovation and product development[198]. Market Strategy - The company is focusing on expanding its market presence and enhancing its product offerings in response to the growing demand in the pharmaceutical sector[33]. - The company plans to expand its market presence by targeting hospitals and pharmacies, increasing product accessibility, and collaborating with provincial and county-level distributors[110]. - The company is positioned to benefit from the ongoing reforms in the pharmaceutical industry, which aim to enhance the quality and efficiency of healthcare services[34]. - The company is actively involved in the development of traditional Chinese medicine, with policies supporting its growth and modernization[36]. - The company is exploring new technologies for wastewater treatment to improve efficiency and compliance[179]. - The company aims to expand its market presence while adhering to strict environmental regulations[179]. Environmental Compliance - The company adheres to multiple environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[176]. - The company reported no significant defects in non-financial reporting as per the internal control audit[173]. - The company has implemented strict compliance with environmental impact assessment requirements for all construction projects[176]. - The company has not reported any instances of exceeding the permitted discharge limits for pollutants[177]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[176]. - The company has established a self-monitoring plan for pollutants, which includes automatic monitoring and manual testing, with data reported to the national pollution permit management information platform[182]. - The company has implemented emergency response plans for environmental incidents, including regular drills to enhance preparedness[182]. - The company plans to enhance its wastewater management strategies to further reduce environmental impact[179]. - The company is committed to maintaining compliance with environmental standards and improving wastewater treatment processes[179]. Legal Issues - The company received a ruling of not guilty from the Chongqing First Intermediate People's Court on December 29, 2023, regarding the bribery charges[119]. - The controlling shareholder, Liu Qun, was ordered to repay a total of RMB 121.474926 million for embezzlement and misappropriation of funds, which was fully repaid by April 8, 2021[121]. - The company has faced significant legal challenges, including a retrial of bribery charges, which could impact its future operations[119]. - The company reported a legal ruling of not guilty regarding bribery charges, which was confirmed by the Chongqing First Intermediate People's Court in December 2023[194]. - The company has not encountered any major issues in the integration of subsidiaries during the reporting period[170]. - The company has committed to compliance and has not been under investigation by judicial authorities or the China Securities Regulatory Commission[196]. Employee Management - The total number of employees at the end of the reporting period was 1,289, with 550 in the parent company and 505 in major subsidiaries[161]. - The professional composition of employees included 749 production personnel, 125 sales personnel, 65 technical personnel, and 31 financial personnel[161]. - The educational background of employees showed that 859 had a vocational education or below, 241 had an associate degree, 181 had a bachelor's degree, and 8 had a master's degree[161]. - The company maintained a fair and transparent salary policy, adhering to local average wages and economic performance for salary distribution[162]. - The company has a structured training system in place, focusing on internal career development and professional skill enhancement for employees[164]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.29 million[151]. - The remuneration for the financial director was CNY 365,300, while the supervisor's remuneration was CNY 135,500[151]. - The total remuneration for the independent directors was CNY 144,000 collectively[151]. Investment and Fundraising - The company raised a total of RMB 118,561.00 million through the issuance of 53 million shares at a price of RMB 22.37 per share, with a net amount of RMB 107,879.07 million after deducting issuance costs[97]. - As of December 31, 2023, the company has unused raised funds totaling RMB 5,681.47 million, which includes RMB 3,000.00 million in structured deposits and RMB 2,681.47 million in the special account[97]. - The company has invested RMB 1,435.83 million into fundraising projects, with a cumulative investment of RMB 75,115.00 million[99]. - The company has committed a total of RMB 107,879 million to various investment projects, with RMB 79,869.32 million already invested[99]. - The company utilized RMB 3,000.00 million of idle raised funds for purchasing structured deposits[97]. - The company has not experienced any significant changes in the use of raised funds or project progress[99]. - The company has successfully completed the non-PVC soft bag large capacity injection project with a 100% completion status[99]. - The company utilized RMB 30 million of idle fundraising to temporarily supplement working capital, with a usage period not exceeding twelve months[101].