Hangzhou Baicheng Pharmaceutical Technology Co., Ltd
Financial statement report of 2021
The 2021 financial statements of Hangzhou Baicheng Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "the company") have been audited by Tianjian Certified Public Accountants (special general partnership) and issued an unqualified audit report of Tianjian Shen [2022] No. 808 standard. In order to have a more comprehensive and detailed understanding of the company's financial situation and operating results in 2021, the financial statements of 2021 are reported as follows: I. main financial data of 2021
In 2021, the company carried out all work in an orderly manner around the annual business plan and objectives, steadily promoted all businesses, and achieved great growth in business performance. The company's annual operating income was 374311800 yuan, an increase of 80.61% over the same period last year; The net profit was 1109695 million yuan, a year-on-year increase of 94.02%; The net profit attributable to the shareholders of the listed company was 1110883 million yuan, an increase of 93.52% over the same period last year; The owner's equity attributable to shareholders of listed companies was 2317911100 yuan, an increase of 581.36% over the same period last year; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 1028945 million yuan, a year-on-year increase of 87.54%. 2、 Main financial indicators in 2021
Year 2021
Total assets (10000 yuan) 29248737
Operating income (10000 yuan) 374311800 yuan
Net profit (10000 yuan) 1109695
Asset liability ratio (%) 20.76
Current ratio 4.71
Quick ratio 4.53
Accounts receivable turnover rate 6.33
Inventory turnover rate 28.28
Total asset turnover rate 21.00
Period expense rate (%) 36.50
Gross profit margin (%) 67.26
Net profit margin (%) 29.65
Earnings per share 1.37
3、 Financial situation of the company in 2021 1 1. Analysis of asset composition
Increase and decrease range of the project from December 31, 2021 to December 31, 2020
Monetary capital 201 Shenzhen Changhong Technology Co.Ltd(300151) 08513362173096140649%
Accounts receivable 76755728683451409022 122.39%
Inventory 2285185091362049910 531.18%
Contract assets 47194897531964547380 140.23%
Other current assets 47955809642348344583 104.21%
Fixed assets 446759583096684312302 568.37%
Construction in progress 1040787156618661379502 - 44.23%
Deferred income tax assets 22858324101055293078 116.61%
Other non current assets 26919008244796256656 - 43.87%
Total non current assets 6993191159940078768353 74.49%
Total assets 29248737244263979404715 357.16%
1. The ending amount of monetary capital increased by 140649% compared with the opening amount, mainly due to the company's listing on the gem in 2021, with a net raised capital of 1.86 billion yuan.
2. The closing amount of accounts receivable increased by 122.39% compared with the opening amount, which is mainly due to the increase of operating income with the continuous expansion of the company's business scale, resulting in the increase of the closing balance of accounts receivable.
3. The ending balance of inventory increased by 531.18% compared with the beginning balance, mainly because Zhejiang Saimo Pharmaceutical Co., Ltd. (hereinafter referred to as "Saimo"), a wholly-owned subsidiary of the company, began to put into operation in 2021, carried out cdmo business of drug pilot test and stable batch production, and stored more raw materials; Therefore, the ending balance of inventory increased greatly.
4. The closing balance of contract assets increased by 140.23% compared with the opening balance, mainly due to the continuous expansion of the company's business scale and the increase of fulfilled and unsettled assets, resulting in the increase of the balance of contract assets
5. The closing balance of other current assets increased by 104.21% compared with the opening balance, mainly due to the fact that the company listed on the gem in 2021, paid Sinolink Securities Co.Ltd(600109) underwriting recommendation fee of 261 million yuan, received value-added tax invoice of 157126 million yuan, and retained more value-added tax input at the end of the period.
6. The ending balance of fixed assets increased by 568.37% compared with the opening balance, mainly due to the fixed assets carried forward by the company's wholly-owned subsidiary Seymour's construction in progress in the current period, so the ending fixed assets increased significantly.
7. The closing balance of construction in progress decreased by 44.23% compared with the opening balance, mainly due to the fixed assets carried forward by the company's wholly-owned subsidiary Saimo's construction in progress in the current period, so the closing balance decreased. The closing balance of the current period is mainly the construction in progress of Linping raised investment project.
8. The closing balance of deferred income tax assets increased by 116.61% compared with the opening balance, mainly due to the large increase of estimated liabilities in the current period, resulting in the large increase of the amount of deferred income tax assets at the end of the period.
9. The closing balance of other non current assets decreased by 43.87% compared with the opening balance, which is mainly due to the decrease in the advance payment for purchasing long-term assets due to the carry over of fixed assets from the construction in progress of SEMER, a wholly-owned subsidiary of the company in the current period. Therefore, other non current assets decreased significantly at the end of the period.
2. Analysis of liabilities
Increase and decrease range of the project from December 31, 2021 to December 31, 2020
Short term loan 5006111111902525417 - 73.69%
Notes payable 4000 Ping An Bank Co.Ltd(000001) 01720200 293.24%
Accounts payable 129832845113395207974 282.40%
Contract liabilities 71167934055038915061 41.24%
Payroll payable 23924536771205123916 98.52%
Taxes payable 847932728270183292 213.84%
Other payables 115983015255498527 - 54.61%
Handling charges and commissions payable --
Total current liabilities 4726914042312169174387 288.43%
Non current liabilities: --
Long term loan 404364968413521849946 - 70.10%
Lease liabilities 813866287-
Estimated liabilities 85827359014270928434 100.96%
Deferred income tax liabilities 591516633176 - 6.58%
Total non current liabilities 1344084338817793411556 - 24.46%
Total liabilities 6070998381129962585943 102.62%
1. The closing balance of short-term loans decreased by 73.69% compared with the opening balance, mainly due to the repayment of bank loans by the company in the current period.
2. The closing balance of accounts payable increased by 282.40% compared with the opening balance, mainly due to the company's listing on the gem in 2021, and the unpaid expenses of accountants and lawyers at the end of the period were more than 238576 million yuan; And the estimated project cost of the project under construction at the end of the period of Baicheng R & D center is about 40 million yuan.
3. The closing balance of contract liabilities increased by 41.24% compared with the opening balance, mainly due to the continuous expansion of the company's business scale and the increase of new customers and new contracts in the current period, so the amount of loans received from customers in advance increased.
4. The average number of employees at the end of the period increased by 98.98% compared with that at the beginning of the period, which was mainly due to the continuous increase in the number of employees at the end of the period.
5. The ending amount of long-term borrowings decreased by 70.10% compared with the beginning amount, of which some long-term borrowings were reclassified to non current liabilities due within one year, with a total amount of long-term borrowings of about 260 million yuan, an increase of 92.84% over the same period of last year; The long-term loan is mainly the long-term loan made by Zhejiang Saimo company for the construction of plant and production equipment, which is expected to expire in January 2022
