JSSH(SZ:000518)2024-04-29 13:21Financial Performance - The company's operating revenue for 2023 was ¥235,419,049.03, a decrease of 12.86% compared to ¥270,149,197.60 in 2022[19]. - The net profit attributable to shareholders for 2023 was -¥75,269,896.35, representing a decline of 54.26% from -¥48,792,770.94 in 2022[19]. - The net cash flow from operating activities decreased by 66.51% to ¥1,629,635.79 in 2023, down from ¥4,865,787.34 in 2022[19]. - The basic earnings per share for 2023 was -¥0.0731, a decrease of 54.22% compared to -¥0.0474 in 2022[19]. - Total assets at the end of 2023 were ¥660,975,034.49, down 10.45% from ¥738,078,462.55 at the end of 2022[19]. - The net assets attributable to shareholders decreased by 13.55% to ¥481,706,954.69 at the end of 2023, compared to ¥557,240,851.04 at the end of 2022[19]. - The company reported a weighted average return on equity of -14.49% for 2023, a decline from -8.39% in 2022[19]. - The company's revenue after deducting non-operating income was ¥229,609,696.11 in 2023, compared to ¥265,711,146.35 in 2022[20]. - The pharmaceutical business revenue was ¥225,964,755.62, reflecting a year-on-year decrease of 12.70% due to procurement policies[42]. - Total operating revenue for 2023 was ¥235,419,049.03, a decrease of 12.86% compared to ¥270,149,197.60 in 2022[44]. Cash Flow and Expenses - The net cash flow from operating activities showed fluctuations, with a positive cash flow of ¥3,050,580.73 in the first quarter, turning negative in the second quarter at -¥2,242,459.58, and returning to positive at ¥1,091,221.40 in the fourth quarter[24]. - Cash flow from operating activities was ¥1,629,635.79, a decline of 66.51% compared to the previous year[42]. - Total sales expenses decreased by 6.87% to ¥116,564,330.67, while R&D expenses decreased by 25.19% to ¥29,150,204.80[54]. - The company's operating costs for 2023 were ¥287,686,024.21, down from ¥311,217,662.78 in 2022, reflecting a reduction of 7.56%[200]. Inventory and Assets - The inventory accounted for 61.81% of total assets at the end of 2023, showing a 6.43% increase compared to the beginning of the year[59]. - As of December 31, 2023, the company's inventory assets had a book value of 439.52 million yuan, with a provision for inventory impairment of 30.99 million yuan[181]. - The company's total assets decreased slightly to CNY 660,975,034.49 in 2023 from CNY 738,078,462.55 in 2022, a decline of 10.5%[198]. - Current assets totaled CNY 509,380,002.54, down from CNY 564,819,858.63, indicating a reduction of about 9.8%[193]. - The company's cash and cash equivalents decreased to CNY 18,927,001.92 from CNY 28,180,123.46, representing a decline of approximately 32.8%[193]. Research and Development - The company holds 12 invention patents and 4 new drug certificates, indicating a strong R&D capability[41]. - R&D investment decreased by 25.19% from 38,968,076.78 CNY in 2022 to 29,150,204.80 CNY in 2023, accounting for 12.38% of operating revenue[56]. - The number of R&D personnel increased by 16.67% from 30 in 2022 to 35 in 2023, with a higher proportion of personnel holding bachelor's degrees[56]. - The company is developing a new eye drop formulation for cataract treatment, which is expected to create a new revenue growth point in the ophthalmic drug market[56]. Market and Industry Outlook - The pharmaceutical manufacturing industry is expected to continue growing due to increasing global drug demand driven by population growth and aging, alongside advancements in treatment technologies[30]. - Recent government policies, including the acceleration of innovative drug approvals and the establishment of stringent drug standards, are set to enhance the development of the pharmaceutical sector[31][32]. - The average price reductions from the eighth and ninth rounds of national centralized procurement were 56% and 58%, respectively, indicating a significant impact on pricing strategies within the industry[32]. - The company is positioned to benefit from the "High-Quality Development Action Plan for the Pharmaceutical Industry (2023-2025)" aimed at enhancing the resilience and modernization of the pharmaceutical sector[33]. Governance and Management - The board of directors consists of six members, including three independent directors, complying with legal requirements[78]. - The company maintains independent operations from its actual controller, ensuring no conflicts of interest or unfair related transactions[80]. - The company has established an independent financial department with a separate accounting system and tax obligations[82]. - The independent directors actively participate in training to stay informed about relevant laws and regulations[78]. - The company has a robust information disclosure system, ensuring timely and accurate communication with investors[78]. Environmental Compliance - The company adheres strictly to multiple environmental protection laws and regulations, ensuring compliance in its operations[115]. - The company reported no instances of exceeding pollution discharge standards in its operations[116]. - The company has implemented measures to ensure that all major pollutants are within regulatory limits, demonstrating commitment to environmental responsibility[116]. - Jiangsu Sihuan Bioengineering's wastewater treatment facility is subject to GB 21907-2008 standards, ensuring compliance with national regulations[119]. Legal and Regulatory Matters - The company faced a legal ruling in August 2023, with the court dismissing claims from three plaintiffs, resulting in a cost burden of ¥1,569,113[43]. - The company received a favorable court ruling in August 2023, dismissing a lawsuit with a claim amount of approximately 288.74 million yuan[131]. - There were no significant litigation or arbitration matters reported during the reporting period, with no expected liabilities arising from ongoing cases[137]. Shareholder Information - The largest shareholder, Yu Qinfeng, holds 14.32% of the shares, totaling 147,381,643 shares[165]. - The second largest shareholder, Wang Hongming, owns 14.00% of the shares, amounting to 144,138,394 shares[165]. - The company has a total of 104,201 ordinary shareholders at the end of the reporting period[164]. - The top ten shareholders include state-owned and private entities, with the largest private shareholder being Yu Qinfeng[165].