Gofar Stock(600538)2023-04-17 16:00Financial Performance - In 2022, the net profit attributable to shareholders was CNY 34.8612 million, with a cumulative distributable profit of CNY -390.4095 million at the end of the year[5]. - The company proposed no profit distribution for 2022 due to negative cumulative undistributed profits, failing to meet the cash dividend requirements[5]. - The company's operating revenue for 2022 was CNY 459,684,048.23, an increase of 8.23% compared to CNY 424,717,057.51 in 2021[18]. - The net profit attributable to shareholders for 2022 reached CNY 34,861,170.21, representing a significant increase of 232.44% from CNY 10,486,532.83 in 2021[18]. - The basic earnings per share for 2022 was CNY 0.07, up 250.00% from CNY 0.02 in 2021[19]. - The weighted average return on equity increased to 3.73% in 2022, up by 2.53 percentage points from 1.20% in 2021[19]. - The total assets of the company at the end of 2022 were CNY 1,142,144,892.25, a growth of 5.48% from CNY 1,082,774,790.94 at the end of 2021[18]. - The company reported a cash flow from operating activities of -CNY 15,741,511.89 for 2022, compared to -CNY 6,338,055.40 in 2021, indicating a worsening cash flow situation[18]. Investments and Subsidiaries - The company confirmed an investment income of CNY 13,034,400 from its 27.03% stake in Nanjing Huada Gongying No. 1 Venture Capital Partnership in 2022[19]. - The company invested 20 million RMB in Miracle Medicine Technology, establishing a long-term strategic partnership to promote mutual development[30]. - GaoSheng Bio, a subsidiary, reported a full-year revenue of 197 million RMB in 2022, a year-on-year growth of 10.78%, and a net profit of 38.49 million RMB, increasing by 20.74% compared to the previous year[25]. - The company confirmed an investment income of 13.03 million RMB from the Nanjing Huada Gongying No. 1 Investment Fund in 2022, which has successfully exited two projects that went public[28]. Market and Industry Trends - The pharmaceutical manufacturing industry in China faced challenges in 2022, with a 1.6% decline in revenue for large-scale enterprises, totaling 2.91 trillion RMB, and a 31.8% drop in total profit[31]. - The pharmaceutical circulation market in China showed steady growth, with a total sales volume of 2.6064 trillion RMB in 2021, reflecting an 8.5% year-on-year increase[32]. - The average profit margin in the pharmaceutical circulation sector decreased to 1.7% in 2021, indicating a trend towards lower profitability[32]. - The overall demand in the pharmaceutical industry is characterized by rigidity, with limited impact from macroeconomic fluctuations, indicating a stable market environment[48]. Operational Management - The company plans to continue expanding its market presence and enhancing operational management through its subsidiary, Guangzhou Gaosheng Biotechnology Co., Ltd.[19]. - The company actively expanded its market presence, increasing the number of automatic extraction detection workstations launched in 2022 by 6 units compared to the previous year[26]. - The company is focusing on the development of innovative products in the in vitro diagnostics sector, driven by increasing medical consumption levels and supportive national policies[37]. - The company is advancing its logistics capabilities by optimizing network layouts and enhancing service capabilities, particularly in rural areas[35]. Governance and Compliance - The company’s financial report has been audited by Tianjian Accounting Firm, which issued a standard unqualified opinion audit report[4]. - The company has established a cooperative model for medical imaging and radiotherapy centers, utilizing large medical equipment and providing technical support, with ongoing projects like the Jiangsu Suqian Imaging Center[45]. - The company has implemented a comprehensive internal control system that meets the requirements of relevant regulatory bodies, ensuring effective operation and compliance[150]. - The company has not reported any significant internal control deficiencies during the reporting period[151]. Environmental Responsibility - In 2022, the company invested 17.46 million yuan in environmental protection initiatives[154]. - The total wastewater discharge in 2022 was 36,636 tons, with biochemical oxygen demand (BOD) emissions of 252.788 kg and chemical oxygen demand (COD) emissions of 989.172 kg[155]. - The company has not reported any significant changes in research and development investment or major projects during the reporting period[90]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[155]. Employee and Management Structure - The company has a board of directors consisting of 9 members, including 3 independent directors, ensuring a balanced governance structure[118]. - The total number of employees in the parent company is 179, while the main subsidiaries employ 322, resulting in a total of 501 employees[142]. - The company's salary structure consists of basic salary (20%), position salary (50-60%), performance salary (20-30%), and allowances[143]. - The company encourages employee training and development through various programs to enhance professional skills and knowledge[144]. Future Outlook - The company plans to achieve a sales revenue of no less than 470 million yuan in 2023, indicating a focus on sustained profit growth[106]. - The company is focusing on optimizing budget management and reducing financial risks through effective accounts receivable management[109]. - The company is committed to ongoing research and development to innovate new products and technologies[128]. - Future outlook includes potential market expansion and strategic acquisitions to drive growth[128].