Securities code: Xiamen Amoytop Biotech Co.Ltd(688278) securities abbreviation: Xiamen Amoytop Biotech Co.Ltd(688278) Announcement No.: 2022012 Xiamen Amoytop Biotech Co.Ltd(688278)
Announcement of profit distribution plan for 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 individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
● distribution ratio per share: cash dividend of 0.1 yuan per share (tax included).
● 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 distribution proportion per share unchanged, adjust the total distribution accordingly, and announce the specific adjustment separately.
● the proportion of cash dividends in this year is less than 30%, mainly because the pharmaceutical industry has the characteristics of large investment and long cycle. At present, the company is in a relatively rapid development stage, and a large amount of funds need to be invested in product R & D, production and operation in the future.
1、 Contents of profit distribution plan
According to the audit of Rongcheng Certified Public Accountants (special general partnership), as of December 31, 2021, Xiamen Amoytop Biotech Co.Ltd(688278) (hereinafter referred to as "the company") had the distributable profit of 31176958204 yuan at the end of the period. The equity distribution base of the company to be implemented by the board of directors on the date of registration of the annual equity distribution of 2021 shall be the equity distribution base of the company. The profit distribution plan is as follows:
The company plans to distribute cash dividend of 1 yuan (including tax) to all shareholders for every 10 shares. If the current total share capital of the company is 406800000 shares, the total cash dividend of 40680000 yuan (including tax) is planned to be distributed this time, accounting for 22.45% of the net profit attributable to ordinary shareholders of the listed company in the consolidated statement.
If the total share capital of the company changes between the date of disclosure of this announcement and the date of equity distribution and equity registration, it is proposed to maintain the amount of distribution per share unchanged, adjust the total amount of distribution accordingly, and make a separate announcement on the specific adjustment.
The profit distribution plan needs to be submitted to the general meeting of shareholders for deliberation.
2、 Description of cash dividend ratio less than 30% in this year
During the reporting period, the company realized a net profit of 18120095924 yuan attributable to the shareholders of the listed company, the profit available for distribution to the shareholders of the parent company at the end of the year was 31196921610 yuan, and the cash dividend to be distributed in 2021 was 40680000 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
In recent years, the pharmaceutical industry in which the company is located has maintained rapid growth under the promotion and guidance of national policies. With the continuous breakthrough of biopharmaceutical in the treatment of malignant tumors, viral hepatitis and other diseases, biomedicine has developed rapidly, the sales scale has increased continuously, and the development prospect of the industry is broad.
The pharmaceutical industry is a knowledge intensive, multi-disciplinary and highly integrated emerging industry. It has the characteristics of high investment, long cycle and high risk. The research and development of new products needs high-level professionals and high-tech as support. In this process, a large amount of funds need to be invested in technology research and development and talent reserve. With the gradual deepening of China's medical reform and the normalization of centralized volume procurement and medical insurance negotiation, the company must continue to increase investment in the R & D of innovative drugs in order to maintain competitive advantages in R & D capacity and product innovation and achieve sustainable development.
(II) development stage of the company and its own business model
The company is an innovative biomedical enterprise mainly engaged in the R & D, production and sales of recombinant protein drugs, focusing on the development of recombinant proteins and long-term modified drugs. Taking immune related cytokine drugs as the main research and development direction, the company is committed to providing better solutions for the treatment of major diseases such as viral hepatitis and malignant tumor. Over the next period of time, the company will continue to focus on the field of chronic hepatitis B treatment, seek a breakthrough in the direction of chronic hepatitis B clinical cure, and continue to focus on the development of new targets and new mechanism drugs, and continuously enrich the company's product line and enhance its core competitiveness.
The current development stage of the company belongs to the growth stage. The sales of the company's products in China include distribution mode and direct sales mode, mainly distribution mode. According to the company's current development stage and overall business objectives, it still needs to continue to invest a lot of funds in capacity expansion and product market development, so as to create a better return on investment for shareholders.
(III) profitability and capital demand of the company
In 2021, the company realized an operating income of 113222770990 yuan, and the net profit attributable to the shareholders of the listed company was 18120095924 yuan. The profitability of the company was continuously enhanced and the overall financial situation was better. With the continuous accumulation of scientific evidence of clinical cure of chronic hepatitis B and the continuous promotion of new drug research and development projects, the company's products are facing a good development prospect. Future Ltd will continue to maintain a high level of scientific research investment. At the same time, according to the market situation, we should constantly adjust and optimize the marketing network, increase market promotion efforts, and ensure sustainable development. Therefore, the company has a large capital demand in the future.
(IV) reasons for the low level of cash dividends of the company
The company attaches great importance to shareholders' return. Since its listing, the company has implemented a continuous and stable profit distribution policy. Combined with the characteristics of the industry and the needs of business development, the company pays attention to sharing growth income with shareholders while taking into account the development of the company. At present, the company's protein drug production reconstruction and expansion and R & D center construction projects are under construction. At the same time, there are many new drug projects in the R & D stage. In 2021, the company's R & D investment was 16711943379 yuan, a year-on-year increase of 27.09%. The above projects still need to invest a lot of self owned funds in the future.
(V) the exact purpose of retained undistributed profits and the estimated income of the company
The retained undistributed profits of the company will be transferred to the next year, which will be mainly used for R & D investment, fund-raising investment project construction, business development and profit distribution in subsequent years. The expansion of the company's scale and the improvement of profitability are conducive to bringing long-term returns to investors. The income level related to retained undistributed profits of the company is affected by many factors, such as macroeconomic situation, changes in asset quality, asset interest rate and so on.
3、 Decision making procedures performed by the company
(I) convening, deliberation and voting of the board meeting
The company held the 6th meeting of the 8th board of directors on March 30, 2022, deliberated and adopted the proposal on the company's profit distribution plan for 2021 (9 votes in favor, 0 votes against and 0 abstention).
(II) opinions of independent directors
The independent directors believe that the company's profit distribution plan for 2021 complies with the requirements of the company law and the articles of association. The plan fully takes into account the company's current profitability, capital demand and industry characteristics, which is conducive to the stable development of the company and does not harm the interests of the company's shareholders, especially the minority shareholders. Agree to this profit distribution plan and submit it to the general meeting of shareholders for deliberation.
(III) opinions of the board of supervisors
The board of supervisors of the company believes that the profit distribution plan of the company in 2021 complies with the provisions of relevant laws and regulations and the articles of association. The plan fully considers the current operation status and future development capital needs of the company and is in line with the interests of the company and all shareholders. Agree to this profit distribution plan and submit it to the general meeting of shareholders for deliberation.
4、 Relevant risk tips
(I) this profit distribution plan combines factors such as the company's development stage and future capital demand, and will not have a significant impact on the company's operating cash flow, normal operation and long-term development.
(II) the profit distribution plan can only be implemented after being submitted to the general meeting of shareholders for deliberation and approval.
It is hereby announced.
Xiamen Amoytop Biotech Co.Ltd(688278) board of directors
March 31, 2022
