双成药业(002693) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was approximately ¥235.93 million, a decrease of 14.13% compared to ¥274.75 million in 2022[23]. - The net profit attributable to shareholders for 2023 was a loss of approximately ¥50.74 million, representing a decline of 663.02% from a profit of ¥9.01 million in 2022[23]. - The net cash flow from operating activities decreased by 53.84% to approximately ¥11.64 million in 2023, down from ¥25.22 million in 2022[23]. - The total assets at the end of 2023 were approximately ¥803.25 million, a decrease of 11.83% from ¥911.02 million at the end of 2022[23]. - The net assets attributable to shareholders decreased by 8.19% to approximately ¥471.49 million at the end of 2023, down from ¥513.55 million at the end of 2022[23]. - The basic earnings per share for 2023 was -¥0.12, a decline of 700.00% compared to ¥0.02 in 2022[23]. - The weighted average return on net assets was -10.24% in 2023, a decrease of 12.04% from 1.80% in 2022[23]. - The company reported a net profit excluding non-recurring gains and losses of approximately -¥24.14 million, an improvement of 34.55% from -¥36.88 million in 2022[23]. Revenue and Sales Trends - In the first quarter, the company's operating revenue was ¥81,485,154.92, while in the third quarter, it dropped to ¥43,235,465.80, indicating a significant decline[28]. - The net profit attributable to shareholders was negative in the third and fourth quarters, with losses of ¥10,410,823.84 and ¥49,121,010.96 respectively[28]. - The total non-recurring losses for 2023 amounted to ¥26,601,267.28, a significant decrease from the previous year's non-recurring gains of ¥45,893,461.68[29]. - The peptide product line generated CNY 113.16 million in revenue, a decrease of 4.02% year-on-year[57]. - The company reported a gross margin of 70.34% for peptide products, an increase of 8.36% compared to the previous year[59]. Research and Development - The company is recognized as a national high-tech enterprise, focusing on the research and development of peptide drugs, with multiple products approved and sold in developed countries[38]. - The company has established a comprehensive technical system for the synthesis, purification, analysis, and quality assurance of chemical synthetic peptide drugs[39]. - The company has developed multiple chemical synthetic peptide drugs and 20 other therapeutic drugs, with key products including Thymosin Alpha 1 and Somatostatin injection[44]. - The company is actively involved in the development of new products and technologies, particularly in the field of peptide drugs, which positions it well for future market expansion[39]. - Research and development expenses amounted to CNY 34.11 million, representing 14.46% of operating revenue[51]. - R&D investment amounted to ¥34,110,034.71 in 2023, down 8.35% from ¥37,216,294.81 in 2022, while the proportion of R&D investment to operating revenue rose to 14.46% from 13.55%[70]. Regulatory Compliance and Quality Control - The company has successfully passed GMP inspections from the FDA, EU, Philippines, and Saudi Arabia, indicating compliance with international standards[38]. - The company emphasizes strict quality control in drug production to mitigate risks related to drug safety and compliance with regulations[104]. - The company has established a comprehensive pollution management system to comply with environmental regulations and reduce risks associated with waste emissions[104]. - The company has conducted a soil pollution risk assessment and submitted the report to the local environmental authority in November 2023[174]. - The company has successfully renewed its pollutant discharge permit, valid from February 24, 2023, to February 23, 2028[173]. Market and Competitive Landscape - The pharmaceutical manufacturing industry in China saw a revenue decline of 3.7% in 2023, with total profits down by 15.1% compared to the previous year[32]. - The domestic peptide drug market is experiencing annual sales growth, with increasing recognition of chemical synthetic peptide drugs due to their safety and efficacy[92]. - The company aims to enhance its internationalization strategy by synchronously applying for domestic and international approvals for new products, leveraging its GMP-certified facilities[96]. - The company is focusing on developing new technologies and processes to reduce production costs and environmental impact[98]. - The company is committed to increasing R&D investment, particularly in peptide drug development, to maintain competitiveness and meet international standards[96]. Risk Management - The company faces various risks including policy changes, price fluctuations of raw materials, and potential impacts from public health events[4]. - Financial risks are being managed through enhanced internal controls and strategies to mitigate foreign exchange risks associated with increasing export activities[106]. - The company is prepared to adapt its operations in response to potential impacts from public health events on the macro economy and supply chain[106]. Corporate Governance - The company held a total of 4 shareholder meetings during the reporting period, all convened by the board of directors, ensuring compliance with legal and regulatory requirements[111]. - The board of directors consists of 6 members, including 2 independent directors, and held 9 meetings during the reporting period[112]. - The company has established a performance evaluation system for directors and senior management, promoting transparency and accountability in its operations[114]. - The company has implemented an internal audit system with 2 auditors to oversee financial statements and internal controls[115]. - The company operates independently from its controlling shareholders in terms of business, personnel, assets, institutions, and finance, ensuring complete operational autonomy[116]. Employee and Management Structure - The total number of employees at the end of the reporting period is 474, with 375 from the parent company and 99 from major subsidiaries[148]. - The professional composition includes 194 production personnel, 25 sales personnel, 165 technical personnel, 11 financial personnel, 65 administrative personnel, and 14 material personnel[148]. - The company has a total of 15 current senior management members, with varying remuneration levels[138]. - The company has appointed several new deputy general managers, including Yao Zhong, Wang Shiyin, Ai Yixiang, Li Haiyan, Wang Rui, and Li Yuan, all effective from January 9, 2023[122]. Environmental Responsibility - Environmental protection investments totaled approximately CNY 3.27 million, with upgrades to wastewater treatment facilities to enhance pollutant management[53]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[180]. - The company is committed to fulfilling its social responsibility while pursuing its own development[181]. Shareholder Commitments - The company plans to implement a cash dividend policy, prioritizing cash dividends and aiming for a minimum of 30% of the average distributable profit over the past three years for cash distributions from 2024 to 2026[189]. - The company guarantees that it and its related parties will not engage in related transactions with Shuangcheng Pharmaceutical unless unavoidable, adhering to legal and regulatory requirements[185]. - The commitments made by the company and its related parties are intended to protect the legitimate rights of other shareholders of Shuangcheng Pharmaceutical[185].