Work report of the board of directors in 2021
In 2021, the board of directors of Guangdong Vtr Bio-Tech Co.Ltd(300381) (hereinafter referred to as the "company") strictly complied with the relevant provisions of the company law, the Listing Rules of Shenzhen Stock Exchange gem, the guidelines for the standardized operation of companies listed on Shenzhen Stock Exchange gem, the articles of association and the rules of procedure of the board of directors, earnestly performed the responsibilities of the board of directors entrusted by the general meeting of shareholders and actively promoted the implementation of various resolutions of the board of directors, Strictly implement the resolutions of the general meeting of shareholders, diligently carry out various work, constantly standardize the corporate governance structure of the company, and promote the sustainable, stable and healthy development of the company. The work of the board of directors in 2021 is reported as follows:
1、 Review and analysis of the company's overall operation in 2021
(I) overview of overall operation
In 2021, the epidemic of New Coronavirus pneumonia continued to spread in China and internationally, which brought great impact and pressure on the national economy, business operation and employee employment. With the strong measures and policy support taken by the state and the government, China's economic trend has gradually stabilized. During the reporting period, the company's operating revenue decreased by 1.18% compared with the same period of last year, and the net profit attributable to the shareholders of listed companies decreased by 173.53% compared with the same period of last year. The loss was mainly caused by the superposition of factors such as bad operation of vitamin B12 products in Hongying biological raw business, provision for goodwill impairment, provision for asset impairment of overstocked vitamin B12 products, provision for credit impairment of customer arrears, increase in the price of raw materials and energy, production restriction caused by power failure and production restriction, The company has cleaned up the vitamin B12 business of Hongying biology. In the future, the profit of biological agriculture and animal husbandry will be stable and guaranteed, and the company will continue to maintain strong profitability.
The company deployed all work according to the guiding ideology of 2021, actively faced various challenges, adjusted and optimized the industrial layout and improved the advantages of its main business; The group's management mechanism and corporate culture have been further integrated; The vertical financial management of the group and the operation management of its subsidiaries have been greatly improved; The group's main business strategy and brand planning have been strengthened, and the process of internationalization strategy has begun to take shape; The biological agriculture and animal husbandry business department and the medicinal plant business department seized the market opportunity and successfully completed the set objectives; Comprehensively integrate the industrial enzyme sector, preliminarily realize the industrial enzyme industry layout, and lay a solid foundation for the company's new growth in the future; Adjust the business planning and plan to divest the biomedical sector; The informatization management level of the group has been improved, the ERP system has been implemented online in all subsidiaries of the group, the CRM system has been optimized, and the s-hr system has been put into trial operation online; Continue to promote the introduction of medium and high-end talents and the construction of talent echelon, improve the talent structure and allocation of the group and its subsidiaries, and improve the human resource management of the group to a certain extent; The group's strategic scientific and technological strength has been enhanced, scientific research investment has been increased, the introduction and training of scientific research talents have been accelerated, significant progress has been made in new technology and new product development, applied research, industry university research cooperation and other scientific research work, and phased breakthroughs have been made in core technology.
1. In terms of overall operation, the Group actively and effectively prevented and controlled the covid-19 epidemic, and the epidemic prevention and control work in the whole year made a smooth transition; Further improve the group's organization and management mode, and continuously strengthen the group's "3 + 4 + 1" management mode. During the reporting period, focus on the operation integration and rational utilization of internal resources of plant extracts and industrial enzymes after the acquisition of minority shares of Shiwei and Hongying. At the same time, revise and follow up the implementation of operation management systems such as equity incentive, so as to improve the internal control and integration of group management; Strengthen the financial management of the group, improve the financial management, promote the revision and implementation of various systems of the company, promote the inventory removal of subsidiaries, significantly reduce accounts receivable and accelerate capital turnover; The informatization management level has been greatly improved, ERP, CRM, PLM and cloud house have been fully and effectively operated, s-hr has been put into trial operation, and an integrated management platform has been gradually built to support the rapid development of the company and realize the scientific and effective control of the group; Accelerate the introduction of high-end talents, optimize the company's performance evaluation mechanism, improve the salary of employees, strengthen the integration of group corporate culture, and improve the enthusiasm and cohesion of all employees; Strengthen the group's strategy and brand planning, promote the coordinated development of major brands, build the company's brand system, and improve the company's brand awareness through industry exhibitions, conferences and media communication; We will smoothly promote the upgrading and transformation of a series of products such as international cooperative enzyme preparations and feed TECAN.
2. In terms of R & D, the group's research center has increased the introduction and training of scientific research talents for new teams and new projects, especially the successful introduction of several key scientific researchers in the industrial enzyme sector, so as to lay a good foundation for the development of new markets in the future; Complete the expansion of the R & D center of the headquarters, restart the PLM project management system, and improve the R & D platform; All scientific research work was carried out in an orderly manner, and the R & D, production and transformation of acid xylanase, washing enzyme, high temperature resistant glucose oxidase and other products were completed; It has carried out project cooperation and achievement introduction with R & D institutions and colleges and universities abroad, and realized industrialization; National technology R & D center and postdoctoral research workstation successfully passed the review and assessment; R & D work was carried out around the development of new products and the improvement of quality and cost of old products. New breakthroughs were made in R & D technologies such as feed high-temperature resistant phytase, non resistant series and bolaihui planting technology; Assist in overseas registration of relevant products, participate in large-scale academic seminars at home and abroad, and complete the publication of many high-quality academic papers; The group further improved the protection of intellectual property rights and trade secrets, successfully completed the application of various technologies and projects throughout the year, carried out the work of quality system, product registration and GMP certification smoothly, completed the re identification of national high-tech enterprises, and newly authorized 26 invention patents throughout the year.
3. In terms of marketing, we integrated the group's marketing resources, strengthened the construction of the company's marketing team, and effectively carried out various marketing work throughout the year. Throughout the year, we participated in the 30th anniversary celebration of the group, participated in large-scale exhibitions in China's agriculture and animal husbandry, industrial enzyme and medicinal plant industries, held China International Online Technology Salon, increased the advertising of the group's new official website and magazines, published technical articles and product soft articles, strengthened the application test cooperation with well-known universities and scientific research institutions at home and abroad, carried out marketing activities such as the integration of overseas agriculture and animal husbandry sector and overseas industrial enzyme sector, and seized policy opportunities The industry opportunities went against the trend, and the sales performance increased steadily year-on-year. In particular, the key customer business department, direct sales business department and overseas business department of biological agriculture and animal husbandry Marketing Center successfully completed the annual sales target, and the medicinal plant business department and industrial enzyme business department all better completed the annual sales target.
4. In terms of production, the group has integrated the group's production resources, scientifically arranged the production base, reasonably arranged the company's production plan, and better completed the annual production tasks, especially the biological enzyme sector. Under the condition of a large increase in the annual sales of biological enzymes, the real estate volume of Zhuhai headquarters, Inner Mongolia base and kangjieji has increased significantly; Various forms of technology transformation and technological transformation activities have been carried out. The technology transformation work of Inner Mongolia base, Kangjie base and Hongying base is in good condition, which has improved the comprehensive competitiveness of products; Improve the construction of integrated quality management system and strengthen the construction and management of quality system, which provides strong support for the improvement of the group's production capacity and product technology in 2022.
(II) main business development of the company in 2021
The company is a professional biotechnology enterprise. During the reporting period, it mainly engaged in the R & D, production, sales and services of biological enzyme preparations, steroid hormone APIs, functional feed additives and other products in the fields of biomedicine and biological agriculture and animal husbandry, and provided customers with overall biotechnology solutions.
The company's products include: corticosteroid API, sex hormone API, feed enzyme, energy enzyme, food enzyme, washing enzyme, papermaking enzyme, textile enzyme and functional feed additive products. The company's main revenue comes from the sales of steroid hormone raw materials and biological enzyme preparations.
During the reporting period, the operating revenue of steroid hormone API products accounted for 48.83% of the company's total operating revenue, and the gross sales profit accounted for 43.57% of the company's total gross sales profit; The operating revenue of biological enzyme products accounts for 34.12% of the company's total operating revenue, and the gross sales profit accounts for 35.06% of the company's total gross sales profit; The operating revenue of functional feed additives accounts for 11.99% of the company's total operating revenue, and the gross sales profit accounts for 19.84% of the company's total gross sales profit.
During the reporting period, the main factors affecting the change of net profit and cash flow analysis:
1. The operating revenue decreased by 1.18% year-on-year, mainly due to the decline of sales revenue in the biomedical sector due to the impact of environmental protection upgrading and power cut-off during the reporting period;
2. The operating cost decreased by 0.61% year-on-year, mainly due to the decrease in the sales revenue of steroid hormone API products during the reporting period and the subsequent decrease in the operating cost;
3. Taxes and surcharges increased by 12.24% year-on-year, mainly due to the increase of urban construction and maintenance fees and education surcharges paid during the reporting period;
4. The sales expenses increased by 37.35% year-on-year, mainly due to the increase in the celebration of the 30th anniversary of the parent company and the promotion activities of the 30th anniversary of the establishment of the company, exhibition and conference expenses and market development expenses during the reporting period;
5. The administrative expenses increased by 44.69% year-on-year, mainly due to the impact of environmental protection facilities upgrading and limited power production during the reporting period, the environmental protection expenditure increased by 17.51 million yuan and the shutdown loss increased by 21.55 million yuan; During the reporting period, employees will no longer enjoy the social security relief granted by the government due to covid-19 epidemic and the collective salary adjustment of the parent company to improve employees' treatment, resulting in an increase of 22.13 million yuan in employees' salary; During the reporting period, the issuance of class II restricted shares increased the equity incentive fee by 9.75 million yuan; During the reporting period, the subsidiary Keyi New Year's production of 1200 tons of steroidal drugs and intermediates was due to the depreciation of fixed assets and the increase in the amortization of the decoration expenses of the Agricultural University Laboratory leased by the subsidiary Shiwei technology;
6. R & D expenses increased by 5.66% year-on-year, mainly due to the increase of intangible assets formed by the introduction of new technologies by the parent company and subsidiaries during the reporting period, and the amortization fee also increased accordingly; The subsidiary xinhexin introduced a large number of new R & D personnel, which was caused by the increase in salary;
7. The financial expenses decreased by 24.09% year-on-year, mainly due to the reduction of interest expenses of the company's convertible bonds during the reporting period and the reduction of financing costs due to the new combination and optimization of financing varieties of subsidiaries;
8. The loss of credit impairment increased by 131.12% year-on-year, mainly due to the quality problems complained by customers of Hongying biological vitamin B12 products, a subsidiary, and the separate provision of credit impairment for the arrears of these customers during the reporting period;
9. The asset impairment loss increased by 970.69% year-on-year, mainly due to the provision for goodwill impairment of 755941 million yuan and the gradual decline in the price of vitamin B12 products produced in previous years according to the current year's losses and future performance expectations of the subsidiary Hongying biology, and the provision for inventory falling price of vitamin B12 products overstocked at the end of the year;
10. Other income decreased by 54.24% year-on-year, mainly due to the outbreak of covid-19 epidemic in the previous year. The government provided increased policy support to entity enterprises affected by the epidemic, especially steroid hormone drug pharmaceutical enterprises that can be used to treat covid-19;
11. The investment income decreased by 124.17% year-on-year, mainly due to the disposal of the equity income of its subsidiary famosta by its subsidiary xinhexin in the same period of last year;
12. Non operating income decreased by 43.4% year-on-year, mainly due to the cancellation of the balance of accounts payable by the subsidiary xinhexin in the same period of last year;
13. Non operating expenses decreased by 40.44% year-on-year, mainly due to the shutdown loss of the subsidiary xinhexin due to the epidemic in the same period of last year;
14. Income tax expenses decreased by 111.11% year-on-year, mainly due to the decrease in total profits and the decrease in income tax payable during the reporting period;
15. The net profit decreased by 142.22% year-on-year, mainly due to the impairment of goodwill accrued from the operating losses of Hongying biology, the asset impairment loss accrued from the backlog of vitamin B12 products and the increase of credit impairment accrued from customers' Arrears during the reporting period; The increase in the price of raw materials and energy, the production restriction caused by power failure and production restriction and other factors lead to the decline of performance;
16. The net cash flow from operating activities decreased by 46.27% year-on-year, mainly due to the decrease in the operating income of the pharmaceutical sector during the reporting period, resulting in the decrease in cash received from the sale of goods and the provision of labor services; The decrease in the amount of tax refund received and the increase in cash expenses;
17. The net cash flow from investment activities increased by 18.25% year-on-year, mainly due to the decrease in cash paid for the purchase of fixed assets, intangible assets and other long-term assets during the reporting period;
18. The net cash flow from financing activities increased by 863.54% year-on-year, mainly due to financing during the reporting period
Increased net inflow;
19. The net increase in cash and cash equivalents decreased by 101.48% year-on-year, mainly due to the pharmaceutical board during the reporting period
The decrease of business income leads to the decrease of cash received from selling goods and providing labor services; Tax refund received
Due to the decrease in cash and the increase in out of pocket expenses.
2、 Daily work of the board of directors and organizing and preparing for the convening of the board of directors
(I) meetings of the board of directors during the reporting period
14 meetings were held during the reporting period, and the details are as follows:
Meeting session date disclosure date meeting resolution
The 50th meeting of the 6th board of directors January 19, 2021 January 20, 2021 cninfo.com, Announcement No.: 2021003
The 51st meeting of the 6th board of directors January 22, 2021 January 23, 2021 cninfo.com, Announcement No.: Discussion 2021005
The 52nd meeting of the 6th board of directors January 28, 2021 January 29, 2021 cninfo.com, Announcement No.: Discussion 2021009
The 53rd session of the 6th board of directors
