Securities code: Tibet Duo Rui Pharmaceutical Co.Ltd(301075) securities abbreviation: Tibet Duo Rui Pharmaceutical Co.Ltd(301075) Announcement No.: 2022019 Tibet Duo Rui Pharmaceutical Co.Ltd(301075) summary of 2021 Annual Report
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
The audit opinion of Tianjian Certified Public Accountants (special general partnership) on the company's financial report this year is: standard unqualified opinion. Changes of accounting firm during the reporting period: the accounting firm of the company changed from to Tianjian accounting firm (special general partnership) this year. Tips on non-standard audit opinions □ applicable √ not applicable the company was not profitable at the time of listing and is not profitable at present □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable
The company's profit distribution plan for ordinary shares reviewed and approved by the board of directors is: Based on 80000000, distribute cash dividends of 6.25 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 share (including tax), and transfer capital reserve to all shareholders for every 10 shares.
Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Tibet Duo Rui Pharmaceutical Co.Ltd(301075) Stock Code: Tibet Duo Rui Pharmaceutical Co.Ltd(301075)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Jin Fen, Liu Ying
Office address: 6 / F, building 4, oceanwide international SOHO City, Central Business District, Jianghan District, Wuhan
Fax: 08954892099
Tel: 02783868180
E-mail [email protected]. [email protected].
2. Main business or product introduction in the reporting period I. main business of the company
The company is mainly engaged in the R & D, production and sales of chemical preparations and their APIs. The company's core product, sodium acetate ringer injection, is the first generic drug in China through independent research and development.
The company signed the exclusive import and distribution agreement of cefotaxime sodium for injection with Zhengde pharmaceutical in October 2019, the agency agreement of letrozole tablets with Peili Pharmaceutical Industry Co., Ltd. in January 2022, and the entrusted sales agreement of ropivacaine hydrochloride sodium chloride injection with Jinan Kangqiao Pharmaceutical Technology Co., Ltd. in January 2022. During the reporting period, the company's cefotaxime sodium for injection accounted for a small proportion of the current sales revenue.
During the reporting period, the company attached great importance to new product R & D and process technology innovation. So far, the company and its subsidiaries have obtained 48 patents, including 10 invention patents, 36 utility model patents and 2 design patents, and 8 invention patents are under application.
At present, the company's sodium bicarbonate ringer injection (500ml) has entered the stage of application and registration, sodium bicarbonate injection (1.4%, 100ml) has entered the stage of application and pending acceptance, and venlafaxine hydrochloride sustained-release capsule (75mg, 150mg) has entered the stage of application and registration.
The company has built a marketing network covering 29 provinces, cities and autonomous regions across the country. In 2021, the company's main products have been sold in more than 800 level hospitals across the country, including more than 500 level III hospitals, forming a stable terminal market system. 2、 Main products
During the reporting period, sodium acetate ringer injection was the main source of the company's operating revenue, and other products such as cefotaxime sodium for injection accounted for 12.13% of the company's revenue. 3、 Market position of main products
The company's main product is sodium acetate ringer injection, which is the first generic drug in China and belongs to a new generation of crystal solution. At present, five enterprises in China have obtained the approval number of sodium acetate ringer injection. According to the database of China urban public hospitals on Intranet, the company's market share of this product in China was close to 90% in the first half of 2021. 4、 Technical level and characteristics of the company's products
The pharmaceutical industry is a technology intensive industry with high access threshold. Drugs need to invest a lot of manpower and capital costs from R & D to later production, which has the characteristics of high risk, high investment and long cycle. The company has the invention patents related to sodium acetate ringer injection preparation and API, has built a crystal colloid infusion technology platform, and has developed a crystal colloid production technology with simpler production operation, shorter preparation time, lower production cost and ensuring high-quality products, which has laid a technical foundation for the research and development of new products in the field of plasma substitutes. 5、 Business model (I) procurement model
1. Purchase of self owned drugs
The company's raw material procurement adopts the mode of "order by production", which is implemented by the subsidiary Hubei Duorui.
2. Distribution and drug purchase
The purchase of drugs for distribution refers to the situation where the issuer purchases drugs from other drug manufacturers and then sells them. At present, the drug distributed by the issuer is cefotaxime sodium for injection, and the manufacturer is Zhengde pharmaceutical.
(II) production mode
The products are mainly produced in the mode of "production based on sales". During the reporting period, the company's own products all adopt the independent production mode, and there is no entrusted processing in the production process. (III) sales mode
1. Traditional distribution mode
Under the traditional distribution mode, customers are responsible for the market development, channel promotion and logistics distribution of the company's products in specific regions.
The company assists traditional dealers in formulating marketing strategies and provides sales support and academic support, while dealers are specifically responsible for sales channel expansion, marketing activities and sales circulation activities.
1. Distribution mode
With the implementation of the "two ticket system" throughout the country, the company's main marketing mode has gradually changed to the distribution mode. In this mode, the company's customers are distribution dealers, who only undertake the functions of storage, logistics and distribution in the process of drug sales to terminal medical institutions, rather than market promotion. Under the company's professional marketing mode, the company is responsible for the overall planning and implementation of the company's product promotion activities.
1. Direct selling mode
For some hospitals where the production is located, the company has a very small number of direct sales of products to terminal hospitals in the region. During the reporting period, the proportion of revenue under the direct selling mode was very small, which was not the mainstream sales mode of the company.
6、 Competitive advantages and disadvantages (I) competitive advantages 1. Product advantages
Sodium acetate ringer injection belongs to a new generation of crystal solution. Compared with the traditional crystal solution, sodium acetate ringer injection is closer to the composition and physicochemical properties of human plasma. Up to now, sodium acetate ringer injection has entered the volumes of cardiac macrovascular surgery, thoracic surgery, pediatric surgery, tumor diseases, neurosurgery, general surgery, etc; It has been recommended by several expert consensus / guidelines, such as Chinese expert consensus and path management guide for accelerated rehabilitation surgery (2018), consensus on Integrated Traditional Chinese and Western medicine diagnosis and treatment of acute pancreatitis (2017), war trauma anesthesia Guide (2017), S3 – guideline on treatment of patients with severe multiple injuries
South), the wound / burn guidelines – 6: guidelines for the management of burns, British consult guidelines on intravenous fluid therapy for adult surgical patients, etc. 2. Sales advantage
In terms of sales team, the company has a mature and enthusiastic marketing team, and the relevant heads of sales department and marketing department have a solid medical background; The company has built a sales network covering 29 provinces, cities and autonomous regions in China and established long-term business cooperation relations with major customers; In 2021, the company's sodium acetate ringer injection has achieved sales in more than 800 grade hospitals across the country, including more than 500 grade III hospitals, which has formed a good benchmarking and demonstration role in hospitals across the country. 3. R & D advantages
Up to now, the company has obtained 16 drug approval numbers, and more than 20 products under research have been incubated. Among them, sodium bicarbonate ringer injection (500ml) has entered the application and registration stage, sodium bicarbonate injection (1.4%, 100ml) has entered the application and pending acceptance stage, and venlafaxine hydrochloride sustained-release capsule (75mg, 150mg) has entered the application and registration stage. 4. Management team advantages
Mr. Deng Yong, chairman of the company, has more than 20 years of experience in pharmaceutical sales and enterprise management. Core personnel such as Wei Wengang, Cai Zeyu and Zhang Bo have more than 10 years of experience in pharmaceutical marketing or R & D management. (II) competitive disadvantage
During the reporting period, the company's sales revenue mainly comes from sodium acetate ringer injection, which is highly dependent on the single product. Once the company cannot maintain the leading position of the product in the Chinese market, and the development process of new products is less than expected or fails to make a smooth start after listing and sales, it may have a great adverse impact on the company's operating conditions and sustainable profitability. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 8514236228237100614517 129.49% 29425319999
Net assets attributable to shareholders of listed companies 7929185571524236100166 227.16% 15037240894
20212020 year-on-year increase or decrease 2019
Operating income 5296154475549016474419 8.05% 44942745086
Net profit attributable to shareholders of listed companies 68507883049198859272 - 25.53% 7170543446
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of 58220261725813375010 0.15% 5451542581
Net cash flow from operating activities 48149282186363987430 - 24.34% 35274401800
Basic earnings per share (yuan / share) 1.05 1.53 - 31.37% 0
Diluted earnings per share (yuan / share) 1.05 1.53 - 31.37%
