Securities code: Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) securities abbreviation: Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) Announcement No.: 2022010
Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621)
Announcement of profit distribution plan in 2021
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Important content tips:
Distribution ratio per share: cash dividend of 0.265 yuan (including tax) per a share.
The profit distribution is based on the total share capital registered on the equity distribution registration date, and the specific date will be specified in the equity distribution implementation announcement.
If the total share capital of the company changes before the equity registration date of equity distribution, it is proposed to maintain the total distribution unchanged, adjust the distribution proportion per share accordingly, and make a separate announcement on the specific adjustment.
The proportion of cash dividends in this year is less than 30%, which is mainly due to: the company is in the growth period, the construction of relevant projects is advancing in an orderly manner, the company has major capital expenditure arrangements, and the capital investment will continue to be strengthened; With the expansion of the company's business scale, the demand for working capital will continue to grow, and the company must invest a large amount of its own working capital to support the development of the company; At the same time, the company needs to retain a certain proportion of funds to ensure the smooth implementation of strategic planning and the unpredictability of the market.
The profit distribution plan needs to be submitted to the general meeting of shareholders for deliberation.
1、 Contents of profit distribution plan
The audit of Dahua Certified Public Accountants (special general partnership) confirmed that as of December 31, 2021, Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) (hereinafter referred to as "the company" or " Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) ") realized the net profit attributable to the owner of the parent company in 2021, which was 10566243961 yuan, and the distributable profit of the parent company at the end of 2021 was 17129762120 yuan. After deliberation by the board of directors, the annual profit distribution plan of the company in 2021 plans to distribute profits based on the total share capital registered on the date of equity distribution. The profit distribution plan is as follows:
The company plans to distribute a cash dividend of 2.65 yuan (including tax) to all shareholders for every 10 shares. As of December 31, 2021, the total share capital of the company is 80000000 shares. Based on this calculation, the total cash dividend to be distributed is 2120000000 yuan (including tax). The company's cash dividend accounts for 20.06% of the net profit attributable to the shareholders of the parent company in this year. After this profit distribution, the remaining undistributed profits are accumulated and distributed in future years. In 2021, the company did not give bonus shares and did not convert capital reserve into share capital.
If the total share capital of the company changes from the date of disclosure of this announcement to the date of equity distribution and equity registration, the company plans to maintain the total amount of distribution unchanged and adjust the amount of distribution per share accordingly. In case of subsequent changes in the total share capital, the specific adjustment will be announced separately.
The profit distribution plan will be implemented after being reviewed and approved by the company's 2021 annual general meeting of shareholders.
2、 Description of cash dividend ratio less than 30% in this year
The net profit attributable to the owners of the parent company in 2021 was 10566243961 yuan, the distributable profit of the parent company at the end of 2021 was 17129762120 yuan, and the total cash dividend to be distributed by the company was 2120000000 yuan (tax included), accounting for less than 30% of the net profit attributable to the shareholders of the listed company this year. The specific reasons are as follows:
(I) industry situation and characteristics of the company
The company's main business is to provide specialized R & D outsourcing services for pharmaceutical enterprises, covering comprehensive R & D services in generic drug development, consistency evaluation and innovative drug development. The service contents mainly include drug discovery, pharmaceutical research, pharmacological efficacy, clinical research and biological analysis services.
With the acceleration of the national medical reform and the expansion of the medical insurance market, a broad development space has been provided for drugs and medical devices. The innovation and R & D enthusiasm of pharmaceutical enterprises has been significantly improved under the encouragement of policies. Compared with the global CrO (contract research organization) market, China's cro industry base is small. Under the influence of the continuous growth of pharmaceutical demand and the trend of globalization, China's cro market is in the stage of rapid growth. In the future, with the accelerated release of China's demand for innovative drugs and generic drug research and development, the cro industry will usher in an industry development opportunity of continuous growth. In order to seize the development opportunities of the industry, the company needs to invest funds for strategic layout. (II) development stage of the company and its own business model
Founded in 2009, the company is one of the earliest cro companies in China to provide drug R & D services. As an external resource that can be borrowed by pharmaceutical manufacturing enterprises, the company can quickly organize a highly specialized and experienced research team in a short time after accepting the entrustment of customers, so as to help pharmaceutical manufacturing enterprises speed up the progress of drug R & D, reduce drug R & D expenses and realize high-quality research. At present, the company provides specialized R & D outsourcing services for pharmaceutical enterprises, covering comprehensive R & D services in generic drug development, consistency evaluation and innovative drug development. The service contents mainly include drug discovery, pharmaceutical research, preclinical research and clinical trials.
At present, the company is in a relatively rapid development stage. According to the company's strategic planning and arrangement, it needs to invest funds for the construction of new laboratories and supplement working capital.
(III) profitability and capital demand of listed companies
During the reporting period, the listed company made a profit of 10566243961 yuan, and the company distributed a total cash dividend of 2120000000 yuan in 2021, accounting for 20.06% of the net profit attributable to the shareholders of the parent company in the consolidated statements, which is in line with the relevant policies of the company in the dividend return plan for the next three years after the listing of the company. In recent years, with the rapid growth of China's cro industry, the company's profitability has also continued to grow. For the future business development of the company, the company needs to continuously increase capital investment in R & D investment, laboratory construction and technical personnel reserve.
(IV) reasons for the low level of cash dividends of listed companies
The company is a newly listed company in 2021. It is mainly considered that the company is in the growth period, the construction of relevant projects is advancing in an orderly manner, the company has major capital expenditure arrangements, and the capital investment will continue to be strengthened; With the expansion of the company's business scale, the demand for working capital will continue to grow, and the company must invest a large amount of its own working capital to support the development of the company; At the same time, the company needs to retain a certain proportion of funds to ensure the smooth implementation of strategic planning and the unpredictability of the market.
(V) the exact purpose of retained undistributed profits of the listed company and the expected income
For the retained undistributed profits, the company will continue to apply them to the development of its main business, actively promote the implementation of development strategy, support the continuous development of business, further improve the profitability of the company, and repay the majority of investors with better business performance.
3、 Decision making procedures performed by the company
(I) convening, deliberation and voting of the board meeting
The company held the 16th meeting of the first board of directors on February 25, 2022. The meeting deliberated and adopted the proposal on the company's profit distribution plan in 2021, and agreed to submit the profit distribution plan to the company's 2021 annual general meeting for deliberation.
(II) opinions of independent directors
In order to realize the sustainable, stable and healthy development of the company and better safeguard the long-term interests of all shareholders, the board of directors formulates the following profit distribution plan by comprehensively considering the influence of industry characteristics, development stage, its own business model, profitability and other factors: the company plans to distribute cash dividends of 2.65 yuan (including tax) to all shareholders for every 10 shares, We believe that the profit distribution plan is in line with the actual operation and financial situation of the company and does not violate the relevant provisions of the company law, the securities law, the guidelines for the supervision of listed companies No. 3 - cash dividends of listed companies and other laws, regulations and the articles of association.
(III) opinions of the board of supervisors
The company's profit distribution plan for 2021 fully considers the company's profitability, cash flow status and capital demand plan, and combines the current development stage, long-term development plan and shareholders' reasonable return plan. There is no situation damaging the interests of shareholders, which is conducive to the sustainable and stable development of the company and in line with the provisions of relevant laws, regulations and the articles of association. The board of supervisors of the company agreed to submit this proposal to the 2021 annual general meeting of shareholders of the company for deliberation. 4、 Relevant risk tips
(I) analysis of the impact of cash dividends on earnings per share, cash flow status, production and operation of listed companies this profit distribution plan combines the company's profitability, future capital demand and other factors, and will not cause the company's shortage of working capital, have a significant impact on the company's cash abortion, and have an adverse impact on the company's normal operation and long-term development.
(II) this profit distribution plan needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Beijing Sun-Novo Pharmaceutical Research Co.Ltd(688621) board of directors February 28, 2022
