WINSUN BIO(BJ:839729)2024-04-29 12:27Recognition and Awards - In 2023, the company was recognized as a specialized and innovative small and medium-sized enterprise in Guangdong Province[5]. - The company's key product, the pig pseudorabies live vaccine, was recognized as the annual influential pseudorabies vaccine in the 2023 China Agricultural and Animal Husbandry Awards[6]. - The company’s "Duck Plague Live Vaccine" was selected as a high-quality and high-tech product in Guangdong Province for 2022[5]. - The company’s "Bacterial Disease Vaccine for Flatfish" won the first prize in the Excellent Achievement Award for Scientific Research in Higher Education in June 2023[5]. - The company’s key product, the pig fever live vaccine, was awarded as the annual influential pig fever vaccine in February 2023[5]. Financial Performance - The company's operating revenue for 2023 was CNY 314,282,861.48, a decrease of 9.87% compared to CNY 348,717,555.84 in 2022[27]. - The net profit attributable to shareholders for 2023 was CNY 58,058,744.25, down 32.59% from CNY 86,122,768.23 in 2022[27]. - The gross profit margin for 2023 was 58.82%, a decline from 62.53% in 2022[27]. - Total assets at the end of 2023 amounted to CNY 787,859,964.71, representing a decrease of 9.33% from CNY 868,923,105.70 at the end of 2022[29]. - The total liabilities decreased by 30.94% to CNY 119,309,799.39 in 2023 from CNY 172,771,172.59 in 2022[29]. - The weighted average return on equity (ROE) based on net profit attributable to shareholders was 8.61% in 2023, down from 12.39% in 2022[27]. - The basic earnings per share for 2023 was CNY 0.21, a decrease of 34.38% compared to CNY 0.32 in 2022[27]. - The net cash flow from operating activities for 2023 was CNY 31,061,874.03, a decline of 55.05% from CNY 69,106,539.37 in 2022[29]. Research and Development - The company invested a total of 25.68 million in R&D during the reporting period, supporting the successful development of 2 new veterinary drug registration certificates and 5 clinical trial approvals[47]. - The company obtained 5 authorized invention patents during the reporting period, enhancing its innovation capabilities[47]. - The company has developed a new cell culture production technology for animal vaccines, which has been patented, and is the first in the country to use this technology for producing a new type of swine fever live vaccine[40]. - The company is actively participating in industry alliances through its subsidiary, which is focused on veterinary biological products[87]. - The company is conducting clinical trials for a new multi-valent inactivated vaccine for poultry, which aims to improve immune protection efficiency and product practicality[100]. Product Development and Innovation - The company is developing a new inactivated vaccine for grass carp vibriosis, completing the production process and clinical trials, which will enhance its aquaculture vaccine portfolio[96]. - The company is advancing the development of a heat-resistant live vaccine for pseudorabies, which aims to improve production technology and increase vaccine capacity while reducing transportation costs[96]. - The company is working on a new inactivated vaccine for porcine epidemic diarrhea, targeting prevalent strains with strong immunogenicity and safety[98]. - The company is developing a new inactivated vaccine for swine encephalitis, which promises higher safety and better immunogenicity compared to existing vaccines[98]. - The company has initiated the production of a new four-valent coccidiosis vaccine, enhancing its product line for poultry diseases[98]. Market Performance - The company’s poultry vaccine sales revenue reached 35.66 million yuan, an increase of 57.96% year-on-year, reflecting successful market strategies[51]. - Export sales revenue amounted to 15.52 million yuan, a growth of 53.83% compared to the previous year, with significant sales in Vietnam and Egypt[51]. - Revenue from the overseas market grew by 53.83%, attributed to an increase in registered products and sales volume[75]. - The gross margin for the pig live vaccine segment was 79.68%, a decrease of 0.59 percentage points compared to the previous year, with revenue declining by 16.97%[72]. - Revenue from other vaccines increased by 39.90%, driven by strong sales of the pig circovirus type 2 inactivated vaccine, which rose from 2.2395 million yuan to 4.9112 million yuan, a growth of 119.30%[75]. Corporate Governance and Management - The company has undergone a change in its board of directors and senior management, with a total of 6 board members and 3 supervisors as of December 28, 2023[172]. - The company has a diverse management team with expertise in finance, veterinary science, and agricultural research, enhancing its strategic decision-making capabilities[176]. - The company has established various committees to ensure effective governance and oversight of management decisions[190]. - The company is focused on expanding its research and development capabilities, particularly in the field of veterinary vaccines and animal health[174]. - The company has a commitment to maintaining transparency and compliance with regulatory requirements during the transition of its board and management[172]. Shareholder Information - The total number of shares at the end of the period is 273,350,000, with 29.36% being unrestricted shares and 70.64% being restricted shares[146]. - The largest shareholder, Guangdong Modern Agricultural Group, holds 106,780,769 shares, representing 39.0638% of the total shares[148]. - The second-largest shareholder, Guangdong Agricultural Science Asset Management Co., holds 53,872,000 shares, accounting for 19.7081%[148]. - The third-largest shareholder, Guangdong Academy of Agricultural Sciences Animal Health Research Institute, owns 30,799,999 shares, which is 11.2676%[148]. - The total number of shareholders holding common stock is 4,267[146]. Corporate Social Responsibility - The company donated RMB 100,000 to the South China Agricultural University Education Development Foundation during the reporting period, emphasizing its commitment to corporate social responsibility[115]. - The company paid approximately RMB 26.23 million in various taxes to the national and local governments during the reporting period, contributing positively to the economy[115]. - The company has implemented a wastewater treatment system with a processing capacity of 500m³/d, ensuring compliance with national environmental regulations[116]. Future Outlook and Strategy - The company aims to solidify its leading position in the pig vaccine segment while enhancing the development of surrounding products, including multi-valent vaccines[122]. - The company plans to reduce production costs of poultry vaccines through process upgrades and to develop new genetically engineered vaccines[122]. - The company is committed to continuous innovation and product upgrades, particularly in the pig vaccine sector, while also increasing the supply of mid- to low-end vaccines[124]. - The company is focusing on building a high-quality talent team through improved assessment mechanisms and innovative incentive methods[125]. - The company is seeking comprehensive credit limits from multiple banks, including China Merchants Bank and Agricultural Bank of China, to support its financial operations[200].