Stock Code: Guangdong Vtr Bio-Tech Co.Ltd(300381) stock abbreviation: Guangdong Vtr Bio-Tech Co.Ltd(300381)
Announcement No.: 2022034
Bond Code: 123018 bond abbreviation: profit convertible bond
Guangdong Vtr Bio-Tech Co.Ltd(300381) 2021 annual report summary I. important tips: the summary of this annual report is 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 Grant Thornton 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 company’s accounting firm has not changed 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 the total share capital of 490067316 shares of the company as of December 31, 2021, distribute cash dividends of 1.00 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 shares (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 Guangdong Vtr Bio-Tech Co.Ltd(300381) stock code Guangdong Vtr Bio-Tech Co.Ltd(300381)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Zhou Derong, Zhu Shanmin
Office address: No.8, No.8, Pingbei 1st Road, Nanping high tech Industrial Zone, Zhuhai, Guangdong
Fax: 07568680252
Tel: 075686768888828 075686768888829
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(I) main businesses, main products and uses of the company during the reporting period
1. Main business of the company
The company is a professional biotechnology enterprise. During the reporting period, the company plans to sell pharmaceutical business assets based on comprehensive considerations such as business development and strategic layout. As of the end of the reporting period, relevant matters are still under planning. Before the completion of the sale of pharmaceutical assets, the company is still engaged in the R & D, production, sales and services of biological enzyme preparations, steroid hormone APIs, functional feed additives and other products in the field of biomedicine and biological agriculture and animal husbandry, and provides customers with overall biotechnology solutions.
2. Main products and uses
(1) Biological enzyme preparation products
The company’s biological enzyme preparation products mainly include feed enzyme, energy enzyme, food enzyme, papermaking enzyme, textile enzyme, environmental protection enzyme and so on. Feed enzymes mainly include phytase, xylanase, lipase β- Mannanase and complex enzyme; The enzymes used for energy are mainly saccharifying enzymes and high temperature resistant enzymes α- Amylase, acid protease, etc; Food enzymes mainly include saccharifying enzyme, amylase, xylanase, pullulanase, protease β- Glucanase, pectinase, lipase; The enzymes used in papermaking mainly include biological beating enzyme, biological sizing enzyme, biological deinking enzyme, medium temperature desizing enzyme, special biological enzyme for regenerated pulp paperboard, special enzyme for waste paper deinking, etc; The main enzymes used in textile are acid cellulase, neutral cellulase, catalase, alkaline protease and medium temperature desizing enzyme; The enzymes used for environmental protection mainly include laccase, amylase, protease, lipase, lactate dehydrogenase, etc.
Biological enzyme preparation biological enzyme preparation is a kind of green catalyst with high catalytic rate, strong specificity, mild action conditions, biodegradability and few by-products. It is globally recognized as the only new biological product that can effectively solve the four major human development problems of ecological crisis, environmental pollution, lack of resources and health and safety. It is widely used in many industrial fields such as medicine, food, feed, energy and environmental protection.
(2) Steroid hormone API products
The company’s API products mainly include respiratory and immune system API (i.e. corticosteroid API) and reproductive health system API (i.e. sex hormone API). Among them, respiratory and immune system API includes prednisolone series, hydrocortisone series, dexamethasone series and betamethasone series; The raw materials used in reproductive health care system include progesterone series, estrogen series and androgen series. The main products of APIs for respiratory and immune system drugs include prednisolone, prednisolone acetate, sodium ponnisolone phosphate, prednisolone acetate, hydrocortisone, hydrocortisone acetate, hydrocortisone acetate, sodium hydrocortisone succinate, dexamethasone, dexamethasone acetate, fluticasone, betamethasone acetate, betamethasone acetate and sodium petamethasone phosphate; The main products of drug raw materials used in reproductive health care system include levonorgestrel, pregnenone, deoxypregnene, mifepristone, estrone, ethinylestradiol, tambrom acetate and exemestane.
The above products play an important role in regulating the body and have strong pharmacological effects of anti infection, anti allergy, anti-virus and anti shock. They can improve protein metabolism, restore and enhance physical strength, diuresis and reduce blood pressure. They are widely used in the treatment of rheumatoid arthritis, bronchial asthma, eczema and other skin diseases, allergic shock, prostatitis and other endocrine diseases. They can also be used for contraception, abortion, reducing female climacteric symptoms Surgery, anesthesia, etc.
(3) Functional feed additive products
The company’s functional feed additives include alternative anti feed additives (including Borneo, Bopu total base, acidifier, glucose oxidase and their composite products), antioxidants, food attractants, flavoring agents, anti mildew agents, vitamins and other products. The company’s bolaohui extract (veterinary drug API), bolaohui powder (veterinary drug preparation), Bopu total alkali (veterinary drug API) and Bopu total alkali powder (veterinary drug preparation) have obtained the national new veterinary drug certificate. Bolaohui powder has a variety of biological activities such as antibacterial, anti-inflammatory, appetizing and promoting growth. It reduces the rate of animal diarrhea and improves the feed conversion rate. It has low toxicity, no drug resistance and no rest period. It can effectively replace antibiotics in feed. This product has been successfully selected into the national high-tech industrialization demonstration project of green agricultural biological products; As a Chinese veterinary drug, the effective part of Bopu total base and its preparation have high development value in livestock and poultry feed, have good efficacy in replacing antibiotics and anti-inflammatory, and are safe and reliable. As a natural medicine, the above plant extracts of the company can reduce the use of antibiotics and chemicals in food animals, which is in line with the development direction of green breeding in China. With the implementation of the policy of banning antibiotics and implementing “no resistance” feeding announced by the Ministry of agriculture and rural areas in 2019, the company’s functional feed additive products have been growing year-on-year and have broad market prospects.
(II) market position, competitive advantages and disadvantages, and main performance drivers of the company’s products during the reporting period
1. Industry position of the company
Adhering to bioengineering as the main body, customer value orientation, and based on biomedicine and biological agriculture and animal husbandry, the company is committed to becoming a global benchmark enterprise of biological enzyme preparations, a global core enterprise of steroid hormone API and a leading enterprise of functional feed additives in China. At the same time, it works with industry customers to continuously innovate modern biotechnology solutions and actively improve the quality of human life.
In terms of biological enzyme preparations, the company is the first professional manufacturer of biological enzyme preparations in China, the first listed enterprise in China’s biological enzyme preparation industry and the largest biological enzyme preparation manufacturing and service enterprise in Asia. The company has become the main supplier in China’s feed enzyme preparation market, and has expanded from feed enzyme to energy enzyme, food enzyme, washing enzyme, papermaking enzyme, textile enzyme and other categories. In the future, the company will consolidate the leading position of biological enzyme preparation in China, increase the international layout, expand the new market share, and build itself into a global benchmark enterprise of biological enzyme preparation.
In terms of steroid hormone API, the subsidiary xinhexin leads technological innovation in the field of biomedicine, takes the lead in realizing the production of key intermediates of steroid hormone by biotechnology instead of chemical synthesis technology, and then further synthesizes the core products of steroid hormone API. It is a highly competitive steroid hormone API enterprise in China and an important supplier in the global steroid hormone API industry.
In terms of functional feed additives, relying on the channel advantages of agricultural and animal husbandry customers accumulated in recent 30 years, the company provides products including alternative anti feed additives, antioxidants, food attractants, flavoring agents, mildew inhibitors, vitamins and so on. With the implementation of the policy of prohibiting the addition of production promoting drug feed additives (except traditional Chinese Medicine) in feed in the Announcement No. 194 of the Ministry of agriculture and rural areas in 2019 in 2020, the income of the company’s main product alternative anti feed additives has maintained a year-on-year growth and has broad market prospects. The company will seize the market opportunity of the new alternative anti feed additives and build itself into a leading enterprise of functional feed additives in China.
2. The company’s competitive advantages are mainly reflected in the following aspects:
(1) Technological innovation advantages
In terms of biological enzyme preparations, the company is the first professional manufacturer of biological enzyme preparations in China and the largest manufacturer and service enterprise of biological enzyme preparations in Asia. It has presided over and participated in the formulation of 12 national and industrial standards. In terms of biomedicine, the subsidiary xinhexin takes the lead in using biological fermentation to convert phytosterols into key intermediates of steroid hormones, and then further synthesize corticosteroids and sex hormone steroid hormone products. Combined with the brand advantages and channel advantages of the subsidiary Lihua pharmaceutical, the company has become a highly competitive steroid hormone pharmaceutical enterprise in the world. In terms of functional feed additives, the main products bolaohui extract (veterinary drug API) and bolaohui powder (veterinary drug preparation) have obtained the national new veterinary drug certificate. Among them, bolaohui powder has also obtained the drug feed additive certificate issued by the Ministry of agriculture. It is the first patented product of natural plant drug feed additives independently developed in China that can be added and used for a long time, It fills the gap of natural plant medicine and feed additives in China.
At present, the company has 1 National recognized enterprise technology center, 10 provincial R & D engineering centers, 1 academician workstation and 1 post doctoral research workstation. 4 proprietary technologies, 11 core technologies, 227 invention patents and 5 new veterinary drug product certificates.
(2) Talent team advantage
The company’s senior management and core technicians have worked in the feed additive industry for an average of more than 21 years, have rich working experience, and have served in the company for an average of more than 19 years, and the management team is stable. In addition, the company also has a number of high-end technical and marketing talents in the biological enzyme preparation industry and biomedical industry. The stable management team and professional talent team provide a favorable guarantee for the sustainable and rapid development of the company.
(3) Industrial layout advantages
The company adheres to the application of modern biotechnology, based on the field of biomedicine and biological agriculture and animal husbandry, and works with industry customers to continuously innovate biotechnology solutions. It is committed to becoming a global benchmark enterprise of biological enzyme preparations and a leading enterprise of functional feed additives in China. On the basis of Zhuhai production base and Inner Mongolia production base, the company has increased the layout of Hunan production base to form the regional layout advantage of North-South radiation of industrial clusters.
(4) Marketing channel advantages
The company adheres to the sales mode of direct selling, and its marketing network covers all provinces and cities in China and more than 60 countries and regions overseas, forming a broad marketing coverage network. The company adopts the marketing method of zero distance close to customers to provide customers with high-quality products and overall technical solutions, which has won the trust of customers. At present, the company has more than 2300 high-quality direct sales customers.
(5) Brand strategic advantage
Since its establishment, the company has been adhering to the strategy of specialization, science and technology, branding and internationalization, taking creating customer benefits, promoting industry progress and undertaking social responsibility as its own responsibility, applying modern biotechnology, committed to the development and sales of biological drugs, biological enzyme preparations, plant extracts, functional additives and other products, and providing customers with natural, safe, efficient and environmental protection solutions, It has made a series of achievements and honors and formed its own brand advantages. The company and its subsidiaries have been rated as one of the top ten enterprises of enzyme preparation in China, one of the top thirty feed enterprises in China, one of the excellent enterprises of feed science and technology innovation in China, and one of the export famous brands cultivated and developed by Guangdong and Hunan Province. The company also has a number of honors such as provincial famous brand products, famous trademarks and China Chi famous trademarks.
3. Main performance drivers during the reporting period
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 sector will be stable and guaranteed, and the company will continue to maintain
