SNSW(688117)2025-04-24 15:10Financial Performance - The company's operating revenue for 2024 was CNY 456,070,000.10, representing a year-on-year increase of 4.84% compared to CNY 435,021,032.33 in 2023[26]. - The net profit attributable to shareholders for 2024 decreased by 28.88% to CNY 50,023,708.92 from CNY 70,337,139.39 in 2023[26]. - The net cash flow from operating activities fell by 70.19% to CNY 25,273,281.32, down from CNY 84,783,208.00 in the previous year[26]. - The basic earnings per share for 2024 was CNY 0.45, a decrease of 28.57% from CNY 0.63 in 2023[27]. - The company's total assets increased by 25.25% to CNY 1,647,900,520.96 at the end of 2024, compared to CNY 1,315,724,989.56 at the end of 2023[26]. - The company's net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,612,403.87, down 24.24% from CNY 60,205,816.35 in 2023[26]. - The company's operating costs increased by 21.60% to CNY 191.70 million, primarily due to increased overseas sales of raw materials[107]. - The gross margin for the pharmaceutical manufacturing segment was 58.99%, reflecting a decrease of 6.17 percentage points year-on-year[112]. - The company reported a total of 2,134,650 shares held by directors, supervisors, and senior management at the beginning of the year, which increased to 2,257,303 shares by the end of the year, a net increase of 122,653 shares[188]. Research and Development - Research and development expenses accounted for 11.06% of operating revenue in 2024, up from 8.00% in 2023, indicating a strategic focus on innovation[27]. - R&D expenses totaled 50.46 million yuan, an increase of 45.05% year-on-year, accounting for 11.06% of operating revenue[37]. - The company is actively engaged in the research and development of new peptide drugs, with a focus on addressing unmet medical needs in areas such as diabetes and cancer[49]. - The company has established a robust pipeline with various projects at different stages, including 5 projects in clinical trials and 3 projects that have been approved for market[49]. - The company has developed 21 self-researched peptide raw materials, with 14 varieties obtaining production licenses or activation records in the domestic market[51]. - The company has received 28 new utility model patents and 1 invention patent during the reporting period[39]. - The company has submitted applications to the FDA for several products, including Eptifibatide and Ganirelix, which are in various stages of development[84]. - The company is focusing on the integration of raw material and formulation capabilities, enhancing competitiveness in the pharmaceutical industry[75]. Market Expansion and Strategy - ChengDu BiotecCo. plans to expand its market presence in Southeast Asia, with an investment of RMB 100 million allocated for this initiative[19]. - The company aims to enhance its market expansion efforts and invest in new product development to drive future growth[26]. - The company is exploring new strategies for market penetration, including the development of customized drug formulations for specific client needs[49]. - The company is actively pursuing market expansion both domestically and internationally through strategic partnerships and registrations[51]. - The company aims to strengthen its market presence by expanding its domestic and international marketing strategies[168]. - The company plans to enhance its domestic formulation market by optimizing sales channels and accelerating the promotion of strategic products to increase market share[171]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million allocated for potential mergers and acquisitions[190]. Sustainability and Corporate Governance - ChengDu BiotecCo. is committed to sustainability, aiming to reduce its carbon footprint by 20% over the next three years through eco-friendly practices[19]. - The company published its fourth ESG report, showcasing its commitment to social responsibility and governance practices[46]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the legality and effectiveness of meeting resolutions[185]. - The company maintains a robust information disclosure system, ensuring timely and accurate communication with investors[182]. - The company is committed to building a sustainable development environment and fostering honest relationships with investors and stakeholders[183]. Product Development and Innovation - The company is focusing on the research, production, and sales of peptide drugs, with 2 products approved for commercialization and 23 in clinical trial stages[141]. - The company has successfully launched its own formulations in the domestic market and has clients for formulations in Mexico and the US[52]. - The company is advancing the production line project with an annual capacity of 395 kg of peptide raw materials, which is currently in the production line verification stage[41]. - The company has established partnerships with well-known pharmaceutical enterprises such as Fresenius, Masung, and DAEHAN, expanding its raw material product sales to regions including Europe, the United States, and South Korea[21]. - The company is focusing on expanding its product pipeline and enhancing its R&D capabilities to drive future growth[84]. Financial Management and Investments - The company plans to continue investing in new product development and market expansion despite current financial pressures[106]. - The total investment during the reporting period was 18,047,648 RMB, a decrease of 58.42% compared to the previous year[154]. - The company has invested a total of 49,447,648 RMB in private equity funds during the reporting period[157]. - The company will conduct a semi-annual evaluation report on the "quality improvement and efficiency enhancement" action plan for 2024[200]. - The company plans to apply for a maximum comprehensive credit limit of RMB 3,000,000 to Chengdu Bank[200]. Shareholder and Management Structure - The board of directors consists of 9 members, including 3 independent directors, ensuring a balanced and effective governance structure[178]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.70 million RMB[196]. - The total remuneration for core technical personnel at the end of the reporting period was 3.36 million RMB[197]. - The company has appointed several independent directors with extensive experience in finance and management, enhancing its governance structure[193]. - The company is focusing on stock incentive plans to motivate key personnel and enhance performance[188].