双成药业(002693) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥94,892,601.28, a decrease of 31.74% compared to ¥139,013,360.10 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was -¥16,946,164.02, representing a decline of 292.78% from ¥8,790,256.43 in the previous year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥17,759,460.48, a decrease of 1,072.08% compared to -¥1,515,214.81 in the same period last year[11]. - The net cash flow from operating activities was -¥23,505,112.58, which is a decline of 19.29% from -¥19,703,531.96 in the previous year[11]. - The basic earnings per share were -¥0.0409, down 291.12% from ¥0.0214 in the same period last year[11]. - The total revenue for the industrial sector was approximately 72.74 million, a decrease of 43.94% compared to the same period last year[27]. - The company reported a net loss of CNY 14,905,033.04 from its subsidiary Ningbo Shuangcheng Pharmaceutical Co., Ltd., which had total assets of CNY 353,965,312.08[39]. - The company reported a significant increase in intangible assets to approximately 76.44 million, up from 52.81 million, due to successful R&D project approvals[30]. - The company reported a significant increase in long-term equity investments, reflecting a strategic focus on controlling and influencing key investments[152]. Assets and Liabilities - The total assets at the end of the reporting period were ¥819,840,725.21, an increase of 2.07% from ¥803,248,121.89 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company were ¥454,768,795.84, a decrease of 3.55% from ¥471,485,892.58 at the end of the previous year[11]. - The company's total liabilities decreased from ¥139,000,000 to approximately ¥132,000,000, indicating a reduction of about 5%[88]. - The total liabilities increased from CNY 285,602,524.16 to CNY 326,185,889.42, representing a growth of approximately 14.2%[89]. - The company's total equity decreased from CNY 517,645,597.73 to CNY 493,654,835.79, a decline of approximately 4.6%[89]. - The company's retained earnings showed a negative balance, worsening from CNY -346,959,282.11 to CNY -363,905,446.13[89]. - The total liabilities and equity at the end of the reporting period were CNY 454,768,000, indicating a balanced financial position[103]. Research and Development - The company’s R&D investment increased by 28.96% to CNY 19.31 million, reflecting a commitment to innovation[24]. - The company has developed and registered nearly 10 peptide products, which are currently at various stages of approval and development, indicating a strong pipeline[20]. - The company has developed a new peptide synthesis technology aimed at reducing environmental pollution and production costs[23]. - The company’s growth strategy includes expanding its product line and enhancing its international market reach through ongoing research and development efforts[16]. Market and Product Information - The pharmaceutical manufacturing industry in China generated revenue of CNY 1,235.27 billion in the first half of 2024, a decrease of 0.9% year-on-year, while total profit increased by 0.7% to CNY 180.59 billion[15]. - The company’s main products include thymosin injection, somatostatin injection, and bivalirudin injection, with applications in chronic hepatitis B, severe acute gastrointestinal bleeding, and acute coronary syndrome[19]. - The company has successfully obtained marketing approvals from the US FDA and other regulatory bodies for several of its products, enhancing its market presence[18]. - The company achieved operating revenue of CNY 94.89 million, a decrease of 31.74% year-on-year, primarily due to the expansion of centralized procurement and a decline in drug prices[24]. Financial Assistance and Investments - The company provided a total financial assistance of up to RMB 15,840 million to its subsidiary Ningbo Shuangcheng, with a remaining balance of RMB 5,523.42 million as of June 30, 2024[60]. - The company approved a financial assistance of RMB 4,240 million to Ningbo Shuangcheng, with a borrowing period from September 1, 2024, to August 31, 2027[60]. - The company has guaranteed a total of RMB 16,500 million for Ningbo Shuangcheng, which accounts for 30.78% of the company's net assets[64]. - The company has a total of 82.13 million yuan in entrusted financial management, with overdue amounts of 24.99 million yuan and a provision for impairment of 40 million yuan[65]. Risk Management - The company faces various risks including industry policy changes, drug price reductions, and financial risks[2]. - The company acknowledges financial risks associated with expanding operations and international markets, particularly regarding foreign exchange fluctuations and increasing accounts receivable and inventory levels[42]. - The company has established a systematic pollution management system to mitigate environmental risks associated with its production processes[41]. - The company emphasizes the importance of product quality and has implemented strict quality management systems to mitigate quality risks, adhering to regulations such as CGMP and FDA standards[42]. Environmental and Social Responsibility - The company invested CNY 1.58 million in environmental protection facilities and daily expenses in the first half of 2024[51]. - The company paid CNY 814 in environmental protection tax during the reporting period[51]. - The company achieved a reduction of approximately 15% in natural gas consumption and a 50% reduction in nitrogen oxide emissions from its boilers after low-nitrogen modifications[51]. - The company has maintained compliance with environmental protection laws and regulations throughout its operations[51]. Shareholder Information - The total number of shares increased from 416,728,930 to 416,789,750 due to the exercise of stock options, with 60,820 options exercised during the reporting period[72]. - The total number of common shareholders at the end of the reporting period is 40,283[76]. - Hainan Shuangcheng Investment Co., Ltd. holds 32.75% of shares, totaling 136,516,546 shares[76]. - The company has not engaged in any repurchase transactions during the reporting period[78]. Corporate Governance - The company held its annual general meeting on May 22, 2024, with a participation rate of 50.16%[45]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[54]. - The company has not conducted any related party transactions during the reporting period[55]. - The company has not experienced any penalties or rectification issues during the reporting period[54]. Accounting and Financial Reporting - The company's financial statements are prepared in accordance with the relevant accounting standards and reflect its financial position accurately[116]. - The company recognizes deferred tax assets related to temporary differences if new information indicates realizable economic benefits[124]. - The company applies specific methods for translating foreign financial statements, including adjustments for hyperinflationary economies[131]. - The company recognizes impairment losses when the recoverable amount of an asset is less than its carrying amount, with the recoverable amount determined based on fair value or present value of future cash flows[169].