Asymchem(002821)2024-03-28 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of 18 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[2]. - The company has a comprehensive profit distribution plan approved by the board, ensuring shareholder returns[2]. - The total cash dividend amount for the reporting period was approximately ¥664,080,355.80, which accounted for 100% of the total profit distribution[157]. - The distributable profit for the year was reported at approximately ¥1,142,924,652.86[157]. - The company did not issue any bonus shares or increase capital through reserves during the reporting period[157]. - The company implemented a cash dividend policy for 2023, distributing no less than 10% of the distributable profit achieved during the year[155]. - The company has a clear and transparent decision-making process regarding profit distribution, in compliance with its articles of association and shareholder resolutions[156]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB in 2023, representing a year-over-year growth of 25%[8]. - The company's operating revenue for 2023 was ¥7,825,190,298.27, a decrease of 23.70% compared to ¥10,255,325,392.82 in 2022[14]. - The net profit attributable to shareholders for 2023 was ¥2,268,810,444.07, down 31.28% from ¥3,301,635,019.64 in 2022[14]. - The gross margin improved to 45%, up from 40% in the previous year, reflecting enhanced operational efficiency[8]. - The company reported a basic earnings per share of ¥6.26, down 30.60% from ¥9.02 in 2022[14]. - The total revenue for the reporting period reached 7.825 billion CNY, with a year-on-year growth of 24.37% after excluding large orders[36]. - The gross profit margin for 2023 was 51.16%, an increase of 3.79 percentage points year-on-year[36]. - The company reported a significant net profit of ¥1,787,260,413.25 from its subsidiary Jilin Kailai Ying Pharmaceutical Chemical Co., Ltd., contributing over 10% to the overall net profit[99]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence in Europe and North America, targeting a 15% increase in market share by 2025[8]. - The company provided guidance for 2024, projecting a revenue growth of 20% to 1.8 billion RMB, driven by new product launches and market expansion[8]. - The company is actively exploring and laying out new business areas while maintaining its leadership in the pharmaceutical outsourcing industry[25]. - The company is focusing on expanding its overseas market and enhancing the design and manufacturing of continuous reaction equipment, promoting its application across multiple fields[107]. - The company completed a strategic acquisition valued at 50 million in R&D for new technologies and product development[133]. Research and Development - The company is committed to technological innovation and commercialization in pharmaceutical processes[2]. - Research and development efforts focused on innovative drug formulations, with an investment of 200 million RMB in 2023, aimed at enhancing product efficacy[8]. - The company invested 708 million yuan in R&D in 2023, accounting for 9.05% of its revenue, with a total of 383 authorized patents, including 319 domestic and 64 international patents[55]. - The company is focusing on developing ADC drug technologies, with significant investments in payload and linker research to enhance drug efficacy[75]. - The company has established a robust operational and quality management system that meets the highest global industry standards, ensuring efficient project management and quality control[32]. Risk Management and Compliance - The company faces various risks, including the potential withdrawal or recall of major innovative drugs, operational risks in clinical projects, and regulatory scrutiny from international drug authorities[2]. - The report emphasizes the importance of maintaining core technical personnel to mitigate operational risks[2]. - The company emphasizes compliance with corporate governance standards and continuously improves its internal control systems[112]. - The company has implemented a comprehensive risk management and compliance management system to enhance the effectiveness of its internal control system[167]. - The company has not provided any guarantees or financial assistance to the controlling shareholder, ensuring operational independence[117]. Environmental Responsibility - The report highlights the importance of environmental and safety responsibilities in the company's operations[5]. - The company has established comprehensive waste treatment facilities in accordance with national and local standards, ensuring stable operation[174]. - The company has been recognized as a national-level "green factory" by the Ministry of Industry and Information Technology, being the only one in the Tianjin region to receive this designation[186]. - The company has implemented air pollution control measures, including activated carbon adsorption and RTO systems, to treat emissions from research and production processes[190]. - The company has committed to maintaining compliance with national and local environmental protection laws and regulations[186]. Corporate Governance - The report outlines the company's governance structure, including the roles of the board of directors and supervisory board[3]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with regulatory requirements and maintaining the rights of all shareholders[114]. - The company has established a complete and independent financial accounting system, with no shared bank accounts with the controlling shareholder, ensuring financial independence[118]. - The company has a dedicated internal audit department that supervises the execution of internal control systems and major expenditures, enhancing operational compliance[116]. - The company has established a robust investor relations management system, ensuring timely and accurate information disclosure to investors[115]. Employee and Talent Management - The company introduced 205 senior talents during the reporting period, including 83 PhDs and 93 individuals with overseas pharmaceutical experience, increasing the proportion of employees with a bachelor's degree or above to approximately 78%[62]. - The number of R&D personnel increased by 2.06% to 4,752, with the proportion of R&D personnel in the total workforce rising to 48.55%[76]. - The company has established a competitive compensation system aligned with its strategic goals, incorporating basic salary, performance bonuses, and other incentives[153]. - The training program is designed to enhance employee capabilities and efficiency, focusing on leadership, execution, and competency development through diverse training projects[154]. Communication and Investor Engagement - The company engaged with over 300 institutional investors during a communication event on March 31, 2023, discussing its overall business performance for 2022[110]. - The company held a communication event on April 21, 2023, where it addressed investor inquiries regarding its overall business performance for 2022[110]. - The company communicated its overall business performance for the first half of 2023 to institutional investors on August 30, 2023[111]. - The company reported engaging with over 400 institutional investors on October 31, 2023, to discuss its performance for the first three quarters of 2023[111]. Production Capacity and Infrastructure - A new manufacturing facility is under construction, expected to increase production capacity by 50% by the end of 2024[8]. - The company is expanding its production capacity, with a new dedicated production workshop for chemical macromolecules successfully launched, and plans to increase solid-phase synthesis capacity to 14,250L by June 2024[46]. - The company has established a commercial production center for ADC and mAb in Shanghai and a plasmid and mRNA R&D base in Suzhou to meet growing domestic and international demand[27]. Industry Trends and Market Insights - The global pharmaceutical market is projected to reach 124.3 billion by 2025 and $231.0 billion by 2030, with a CAGR of 13.2%[22]. - The CDMO industry is expected to maintain high growth rates, driven by increasing global R&D investments and the rising demand for innovative drugs[102].