Company code: Zhejiang Gongdong Medical Technology Co.Ltd(605369) company abbreviation: Zhejiang Gongdong Medical Technology Co.Ltd(605369) Zhejiang Gongdong Medical Technology Co.Ltd(605369)
Summary of annual report 2021
Section I important tips
1 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 go to www.sse.com com. cn. The website carefully reads the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attend the board meeting. 4. Tianjian Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
The company’s profit distribution plan for 2021 is as follows:
1. The company plans to distribute a cash dividend of 13.80 yuan (including tax) to all shareholders for every 10 shares. As of the date of disclosure of this profit distribution plan, the total share capital of the company is 112627120 shares. Based on this calculation, the total cash dividend to be distributed is 15542542560 yuan (including tax), accounting for 49.98% of the net profit attributable to the shareholders of the parent company in the consolidated statement, and the remaining undistributed profit is carried forward to the next year.
2. If the total share capital of the company changes between the date of disclosure of this profit distribution plan and the date of equity distribution registration, the company plans to maintain the distribution proportion per share unchanged and adjust the total distribution accordingly.
3. This profit distribution plan needs to be submitted to the general meeting of shareholders of the company for deliberation.
Section II basic information of the company
1. Company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Zhejiang Gongdong Medical Technology Co.Ltd(605369) Zhejiang Gongdong Medical Technology Co.Ltd(605369) –
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Jin Shiwei, Wang Jiamin
Office address: No. 10, Beiyuan Avenue, Huangyan District, Taizhou City, Zhejiang Province
Tel: 057684081101
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business during the reporting period
During the reporting period, there was no significant change in the development of the company’s industry, main business, main products and their uses, business model, market position, competitive advantages and disadvantages, and main performance drivers.
2.1 industry
The company’s main business is the R & D, production and sales of disposable medical consumables. According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, the company belongs to the special equipment manufacturing industry (classification code: C35); According to the industrial classification of national economy (GB / t47542017) issued by the National Bureau of statistics, the industry engaged by the company belongs to the manufacturing of medical instruments and devices (Code: c358) in the special equipment manufacturing industry (Code: C35). According to the attributes and specific application fields of the company’s main products, the industry of the company is subdivided into the medical consumables industry in the medical device industry.
2.2 development of medical device industry
Medical device industry is a multi-disciplinary, knowledge intensive and capital intensive high-tech industry related to human life and health. It is one of the important indicators to measure a country’s scientific and technological progress and the development level of national economic modernization. Therefore, countries all over the world generally pay attention to the strategic position of the development of medical device industry. The global health industry and health undertakings are transitioning from the current disease diagnosis and treatment to “great health” and “great health”. The people’s awareness of health management is increasing, giving birth to the demand for large-scale, multi-level and rapidly upgraded medical equipment.
According to the world preview 2018, outlook to 2024 released by evaluate MedTech, it is estimated that the global sales of medical devices will reach US $504.3 billion in 2021 and US $594.5 billion by 2024, with a compound annual growth rate of 5.6%.
2.3 periodicity, regionality and seasonality of the industry
2.3.1 industry periodicity
The medical devices and consumables industry has no obvious periodicity. Medical consumables is a subdivided field of medical device industry, which is closely related to human life and health. The consumption of medical devices and consumables belongs to rigid demand, and the fluctuation of economic cycle has little impact on it. 2.3.2 industry seasonality
The medical devices and consumables industry does not have prominent seasonal characteristics, but due to the inconvenient distribution caused by holidays such as Christmas and Spring Festival in foreign countries and China and the objective existence of customers preparing goods in advance, the superposition of winter is the high incidence period of diseases, resulting in certain fluctuations in the production and delivery volume of the industry.
2.3.3 industry regionality
The consumption demand of medical devices and consumables industry has certain regionality, which is mainly affected by the level of economic development, population density, residents’ income and the distribution of medical institutions. Foreign markets are mainly concentrated in developed countries in Europe, America and Japan, as well as developing countries with relatively active economy and high population density. The Chinese market is mainly concentrated in the first tier cities with intensive medical resources such as Beijing, Shanghai, Guangzhou and Shenzhen, as well as the economically developed southeast coastal areas.
2.4 industry position of the company
After more than 30 years of development, the company has continuously expanded the depth and breadth of its product line. At present, it has become a large-scale enterprise with complete product types among China’s disposable medical consumables manufacturers.
2.5 main business of the company
The company’s main business is the R & D, production and sales of disposable medical consumables. Its main products can be divided into vacuum blood collection system, experimental testing consumables, body fluid collection consumables, medical nursing consumables and drug packaging materials. The products are widely used in clinical diagnosis and nursing, scientific research and testing, drug packaging and other fields.
As a high-tech enterprise, the company has always attached importance to product R & D and technological innovation, continuously improved the production technology and process level, and established a perfect quality control system.
The company has passed ISO13485 quality management system certification, and “laboratory and medical consumables” have been recognized as Zhejiang famous brand products by Zhejiang Provincial Bureau of quality and technical supervision. Many products have passed the EU CE certification, and the disposable sterile vaginal dilator and sharp instrument collection barrel products have obtained the fda510 (k) license of the United States. With high-quality products and services, the company has been recognized by domestic and foreign customers. Its products cover most provinces and cities in China and are sold to many countries and regions in North America, Asia, South America, Africa and Europe.
2.6 main business models of the company
2.6.1 procurement mode
The company purchases many kinds of goods, mainly including plastic particles (polystyrene, polypropylene, polyethylene and other raw materials), product components (PET test tubes, butyl rubber plugs, etc.) and packaging materials (cartons, labels and other auxiliary materials). The procurement department is responsible for centralized and unified procurement of raw and auxiliary materials required by the company’s production.
In order to improve the efficiency of inventory management and reduce the cost of inventory storage and the risk of product backlog, the company adopts the purchase mode of “order by production”. The specific operation process of the company’s procurement work is as follows: the sales department counts the monthly customer demand according to the order quantity; The planning and material control department shall formulate the corresponding production plan and material demand plan according to the customer’s needs, and prepare the purchase requisition on the basis of maintaining the safety stock of raw and auxiliary materials; After reviewing the purchase requisition, the procurement department enters the procurement stage of raw and auxiliary materials; After each batch of purchased materials arrives at the agreed area, they shall be subject to the warehousing inspection of the storage department and the quality inspection of the quality control department in turn. After passing the inspection, the information shall be entered into the ERP system to generate the purchase warehousing order and arrange the warehousing of this batch of materials.
The company has formulated procurement management measures such as procurement and payment system of raw and auxiliary materials, supplier evaluation and procurement control procedure, and conducted raw material procurement and supplier evaluation in strict accordance with the above system. In terms of supplier selection, the company determines the specific supplier according to the supplier’s reputation, product quality, product price, supply capacity, historical cooperation and other factors, and the procurement department determines the specific supplier according to the procurement control procedure and authorization approval procedure. The company has established a stable supply system for main raw materials and formed a long-term cooperative relationship with suppliers that meet the requirements of the company. The company signs the annual procurement framework contract with the main raw and auxiliary material suppliers, and places the purchase order after determining the actual procurement quantity according to the production consumption and safety inventory. The purchase price refers to the market price at the time of procurement and is determined after negotiation. The purchase payment settlement adopts the methods of prepayment, cash on delivery or credit period payment according to the framework contract.
2.6.2 production mode
The company’s production system consists of planning and material control department, manufacturing department, procurement department and quality control department. Among them, the planning and material control department is responsible for formulating production plan and material demand requisition plan; The purchasing department is responsible for the purchase implementation of materials; The manufacturing department is responsible for the implementation and control of the production process; The quality control department is responsible for product inspection, production environment and monitoring in the production process. The production process of the company strictly follows the requirements of ISO13485 quality management system and Chinese medical device quality management specifications.
The company is customer-oriented and adopts the production mode of “production based on sales”. For the demand of foreign market, the company adopts the mode of production according to the order. After receiving the order, the foreign trade salesman shall submit it to the planning and material control department to organize the order review. After the review is passed, the material demand shall be determined and the production plan shall be arranged, and the production and delivery shall be completed within the agreed period. For the demand of the Chinese market, the company adopts the mode of combining production according to order and preparation production. For customized products, the company arranges production according to the order; For conventional products, the company will arrange production according to orders and set safety stock in combination with historical sales. Replenishment production will be carried out when the inventory products are lower than safety stock.
With years of production experience, the company continues to optimize the process flow and enhance the degree of automatic production of the production line, so as to improve production efficiency and ensure product quality. In addition to the key process, most products of the company’s experimental detection, body fluid collection, medical care consumables and drug packaging materials share production resources and equipment. The production line has strong flexible production capacity. According to the market demand and production plan, the production conversion between different products can be realized by timely adjusting the mold and process flow, so as to quickly respond to the changes of market demand.
2.6.3 sales model
The company’s main products are disposable medical consumables. The sales of main products include domestic sales and overseas sales. Domestic sales are divided into distribution and direct sales, and overseas sales are mainly carried out through OEM / ODM mode. Domestic distribution mode means that the company sells products to dealers, and then the dealers sell products to end users such as hospitals and other medical institutions. Domestic direct selling mode means that the company directly sells products to manufacturers such as drugs and in vitro diagnostic products and end users such as medical institutions. The company’s overseas sales can be divided into indirect export and direct export. Indirect export means that the company sells its products to Chinese trading companies and then exports them abroad. The indirect export is settled in RMB. Direct export refers to the company’s direct declaration and export to foreign countries, mainly settled in US dollars and euros. 3. Main accounting data and financial indicators of the company
3.1 main accounting data and financial indicators in recent three years
Unit: 10000 yuan currency: RMB
Increase or decrease in 20212020 compared with 2019 (%)
Total assets 1689911213756783 22.845360411
Net assets attributable to shareholders of listed companies 1388034012079411 14.914052481
Operating income 119425428296518 43.955529796
Net profit attributable to shareholders of listed company 31098722258810 37.681135896
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 29606832150438 37.681101234
Net cash flow from operating activities 37298622421825 54.011223341
Weighted average return on net assets (%) 24.66 34.12 decreased by 9.46 31.48 percentage points
Basic earnings per share (yuan / share)
