NUCIEN PHARMA(688189)2025-04-29 16:50Financial Performance - The company reported a profit distribution plan for 2024, proposing no cash dividends, no bonus shares, and no capital reserve conversion into shares [5]. - The company has not achieved profitability since its listing [3]. - The company reported a revenue of CNY 263.28 million for 2024, a decrease of 63.44% compared to the previous year [24]. - The net profit attributable to shareholders was a loss of CNY 356.90 million, significantly worsening from a profit of CNY 3.75 million in 2023 [24]. - Basic and diluted earnings per share for 2024 were both CNY -1.3007, reflecting a substantial decline from CNY 0.0137 in 2023 [22]. - The net cash flow from operating activities was CNY 1.39 million, a decline of 99.35% compared to the previous year [23]. - Total assets decreased by 28.90% to CNY 1.22 billion at the end of 2024, down from CNY 1.72 billion in 2023 [23]. - The weighted average return on equity was -31.87% for 2024, a significant drop from -0.83% in 2023 [22]. - The gross margin decreased to 54.59%, down 29.89 percentage points year-on-year [86]. - The total profit for the period was -388.64 million yuan, with a net profit attributable to shareholders of -356.90 million yuan [70]. Research and Development - The company’s R&D expenditure accounted for 43.81% of its revenue, an increase of 30.87 percentage points year-on-year [22]. - The company’s R&D investment totaled 115.34 million RMB, accounting for 43.81% of operating revenue, an increase of 30.87 percentage points from the previous year [37]. - The total R&D investment for the year reached ¥115,337,991.94, an increase of 23.77% compared to the previous year [56]. - The company has cumulatively obtained 23 authorized patents and 4 software copyrights as of December 31, 2024 [37]. - The company is focusing on continuous cost reduction and efficiency improvement while streamlining its organizational structure [37]. - The company is conducting Phase II clinical trials for the acid-suppressing drug, with smooth participant enrollment, aiming to delay kidney fibrosis and improve kidney function in diabetic nephropathy treatment [39]. - The company has established a research and development system combining innovative and generic drugs, with a product lineup of 38 chemical drug varieties and 58 formulation production approvals [49]. - The company has launched the first domestic anti-influenza innovative drug, Palivizumab Sodium Injection, and is conducting Phase III clinical trials for a modified new drug, Palivizumab Inhalation Solution [50]. - The company has successfully developed products like Acetaminophen Mannitol Injection using its soft bag infusion technology, which offers advantages over traditional glass bottle infusions [54]. - The company is actively pursuing a diversified approach to international market expansion, including independent clinical development and licensing out [52]. Market and Competition - The company adjusted its sales strategy and reduced prices for core products due to increased market competition and policy changes [24]. - The company experienced a significant decline in sales due to fewer flu cases in the second, third, and fourth quarters of 2024 [24]. - The company is responding to increased market competition and price pressures due to policy changes and intensified market competition in the pharmaceutical sector [35]. - The company is preparing to submit applications for several generic drugs, including Acetaminophen Mannitol injection [115]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for potential deals [153]. Governance and Compliance - The audit report issued by Da Hua Certified Public Accountants is a standard unqualified opinion [4]. - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report [3]. - The company has not violated decision-making procedures for external guarantees [7]. - The company has not disclosed any special governance arrangements [8]. - The company has not faced any issues regarding independence from its controlling shareholders [143]. - The company has established a comprehensive internal control system to ensure compliance and enhance operational efficiency [185]. - The company has implemented a strict information disclosure management system to ensure transparency and fairness in communications with investors [142]. - The company has not reported any violations of laws or regulations by its directors or senior management [142]. Environmental and Social Responsibility - The company emphasizes ESG principles in its operations, focusing on climate change, resource management, and social responsibility [188]. - The company invested ¥1,447,300 in environmental protection during the reporting period [191]. - The company has established an environmental protection mechanism and has not experienced any environmental pollution incidents or administrative penalties [192]. - The company has a comprehensive wastewater treatment facility with a processing capacity of 600 tons per day, operational since March 2017 [197]. - The company is committed to reducing pollutant emissions and enhancing energy efficiency through clean production practices [189]. Employee and Management - The company has a total of 366 employees, with 247 in production, 33 in sales, 42 in technology, 10 in finance, and 34 in administration [173]. - The total compensation for key personnel during the reporting period amounted to 519.61 million yuan [147]. - The company has maintained a consistent shareholding structure with no changes in the number of shares held by key personnel throughout the year [147]. - The company is focused on ensuring a smooth transition as key personnel retire and new members are integrated into the team [148]. - The company is committed to adhering to legal retirement age regulations for its employees [148].