Beilu Pharma(300016)2024-04-22 09:09Financial Performance - The company achieved operating revenue of 891 million RMB, an increase of 16.30% year-on-year[5]. - The net profit attributable to shareholders was -71.76 million RMB, a decrease of 735.92% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -69.55 million RMB, a decrease of 161.94% year-on-year[5]. - The significant decline in net profit was primarily due to a goodwill impairment loss of 31.82 million RMB related to the acquisition of Zhejiang Haichang Pharmaceutical Co., Ltd.[5]. - The net cash flow from operating activities decreased by 54.26% to ¥58,460,838.93, down from ¥127,812,757.45 in 2022[19]. - The basic earnings per share dropped to -¥0.15, a decrease of 850.00% compared to ¥0.02 in 2022[19]. - The net assets attributable to shareholders decreased by 7.08% to ¥1,650,617,396.86 from ¥1,776,339,641.85 in 2022[19]. - The company reported a total non-operating loss of -¥2,210,955.34 for 2023, compared to a gain of ¥37,834,555.36 in 2022[26]. - The company reported a total revenue of 1,070.7 million, with a net profit of 58.8 million, indicating a significant performance in the fiscal year[121]. Research and Development - R&D investment increased by 22.62% year-on-year, amounting to an additional 22.56 million RMB[5]. - The company has integrated its R&D resources by merging Beilu Research Institute with Beijing Aipakesi Pharmaceutical R&D Co., enhancing efficiency and professionalism in product development[38]. - The total R&D expenditure for 2023 was CNY 122,328,869.24, representing 13.73% of operating revenue, an increase from 13.03% in 2022[69]. - The number of R&D personnel increased by 30.64% to 226, with a higher proportion holding bachelor's degrees[69]. - The company is currently reviewing several new products, including gadobutrol injection and sodium calcium edetate, aimed at enhancing market competitiveness[68]. Product Development and Sales - The company plans to continue expanding its product lines in various fields, including contrast agents, central nervous system, endocrine, digestive system, and cardiovascular areas[5]. - The company's contrast agent products achieved sales revenue of 535.24 million yuan, a year-on-year increase of 4.59%[33]. - The strategic product, Jiuwei Zhenxin Granules, generated sales revenue of 140.78 million yuan, reflecting a year-on-year growth of 13.10%[34]. - Sales revenue from diabetes medications, including Glimepiride and Repaglinide, reached 94.55 million yuan, marking a significant year-on-year increase of 59.02%[35]. - The raw materials segment, particularly for gadolinium and iodine contrast agents, reported sales revenue of 221.75 million yuan, up 54.79% year-on-year[37]. - The overseas market expansion resulted in total revenue of 115 million yuan, a remarkable year-on-year growth of 132.98%[37]. Market Strategy and Expansion - The company is actively expanding its sales channels, including e-commerce and retail, to enhance the influence of its "anti-anxiety traditional Chinese medicine" brand[33]. - The company aims to strengthen its market position by focusing on segmented fields and increasing market share through strategic marketing adjustments[30]. - The company is focusing on expanding its overseas market presence, with a continuous increase in foreign sales revenue[93]. - The company is pursuing a dual-driven business model of "chemical drugs + traditional Chinese medicine" to stimulate growth and enhance profitability[94]. Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards, aligning with the requirements of the Company Law and the Shenzhen Stock Exchange regulations, ensuring no significant discrepancies exist[115]. - The company’s governance structure has been continuously improved, enhancing operational compliance and governance levels[115]. - The company has established a robust internal control and management system, contributing to its stable operations and performance[137]. - The company has implemented various control measures, including separation of incompatible duties and budget control[151]. - The company has received multiple environmental approvals for its projects, including the high-end intelligent injection workshop and R&D center, demonstrating compliance with environmental regulations[160]. Environmental Responsibility - The company has established a comprehensive safety and environmental protection system to mitigate risks associated with production and environmental impact[99]. - The company has implemented various environmental protection measures in line with national and local regulations, reflecting its commitment to sustainability[158]. - The company has undergone multiple environmental impact assessments and received approvals for its projects since 1999, showcasing a long-standing compliance history[159]. - The company has established emergency response plans for environmental incidents, with annual drills conducted since 2021[168]. Human Resources and Talent Development - The company aims to enhance its talent development and management capabilities to achieve its strategic goals, including becoming one of the top 100 pharmaceutical manufacturers in China[142]. - The company plans to implement various training programs in 2024 to enhance employee skills and support organizational development[142]. - The company has established a mentorship program to improve operational staff's business skills and responsibilities[142]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 9.662 million[131]. Investment and Financial Management - The company has committed a total of 50,000 million CNY for investment projects, with 37,580.63 million CNY actually utilized by the end of the reporting period, representing a utilization rate of 75.16%[86]. - The company has not engaged in any securities or derivative investments during the reporting period[81][82]. - The company has proposed to change the use of part of the raised funds and to permanently supplement working capital with surplus funds from terminated projects[138]. - The company completed the dividend distribution for the 2022 fiscal year on May 25, 2023, and adjusted the convertible bond conversion price to CNY 8.68 per share[198]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The company has detailed various risks and countermeasures in its management discussion and analysis section[6]. - The company is actively monitoring industry policy changes and adjusting its operational strategies accordingly to mitigate risks from regulatory changes[95]. - Strengthening internal control management to effectively mitigate operational risks will be a key focus for the company in 2024[107].