Summary of 2021 annual report of Jilin Xidian Pharmaceutical Technology Development Co., Ltd
Securities code: 301130 securities abbreviation: West Point pharmaceutical Announcement No.: 2022008 summary of 2021 annual report of Jilin West Point Pharmaceutical Technology Development Co., Ltd. I. important tips
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 Dahua 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.
Prompt of non-standard audit opinion □ applicable √ not applicable
The company is not profitable at the time of listing and is not profitable at present □ applicable √ not applicable
The profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period reviewed 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: taking 80803943 shares as the base, distribute cash dividends of 1.30 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: West Point Pharmaceutical Stock Code: 301130
Shenzhen Stock Exchange
The stock abbreviation (if any) before the change is not applicable
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Meng Yonghong, Zhang Yinji
Office address: No. 777, West Point Street, Panshi Economic Development Zone, Jilin Province
Fax 043265888287043265888287
Tel: 043265660321043181901315
Email: xidianyy @ xidianyy com. [email protected].
2. Introduction to main business or products during the reporting period
(1) Main business and products of the company
The company is mainly engaged in the R & D, production and sales of chemical raw materials and preparations. After years of differentiated development, the company has formed a product system with anti anemia drugs, drugs for the treatment of mental disorders and raw materials as the core, and drugs for the treatment of cardiovascular and cerebrovascular diseases and anti-tumor drugs as the auxiliary. The integration advantage of “raw materials + preparations” is prominent.
By the end of the reporting period, the company had 22 drug registration approvals for preparation varieties (27 specifications) and 16 API registration approvals, focusing on anti anemia drugs, drugs for the treatment of mental disorders and API production.
The company has built a sales network covering the national multi-level market, the downstream customers of main products are relatively stable, and a mature terminal market system has been formed.
(2) Industry development trend and change
① Industry of the company
According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, the industry of the company is “pharmaceutical manufacturing industry (C27)”; According to the industrial classification of national economy (GB / t47542017) issued by the National Bureau of statistics, the industries of the company are “chemical API manufacturing (c2710)” and “chemical preparation manufacturing (c2720)” in the pharmaceutical manufacturing industry.
② Industry development trend
From the perspective of the scale of the global pharmaceutical product market, the scale of the global pharmaceutical product market increased year by year from 2017 to 2020, and the scale of the global pharmaceutical product market reached US $1.39 trillion by 2020. With the further growth of the global population and the increasingly serious problem of population aging, it is expected that the scale of the global pharmaceutical product market will further grow.
China Meheco Group Co.Ltd(600056) market scale increased from 1329.4 billion yuan in 2016 to 1633 billion yuan in 2019. Affected by the epidemic in 2020, the market scale decreased to 1448 billion yuan. It is estimated that the China Meheco Group Co.Ltd(600056) market scale will further reach 1729.2 billion yuan in 2021.
③ Industry development opportunities
China Meheco Group Co.Ltd(600056) market is experiencing a stage of rapid development. With the continuous growth of government, social and personal health expenditure; ② The great impetus of medical reform; ③ Major public health events objectively promote the accelerated development of the pharmaceutical industry; ④ Improve the awareness of related diseases and product cognition; ⑤ The China Meheco Group Co.Ltd(600056) market will develop rapidly driven by factors such as improving drug accessibility through internet medical channels.
④ Industry change
The state has continuously improved and issued relevant policies, and raised the regulatory standards for the pharmaceutical industry. With ① pharmacovigilance quality management specification; ② Interim Provisions on administrative punishment procedures for medical security; ③ Measures for the implementation of early resolution mechanism of drug patent disputes (Trial); ④ Catalogue of drugs for national basic medical insurance, industrial injury insurance and maternity insurance (2020); ⑤ The 14th five year plan for national economic and social development of the people’s Republic of China and the outline of long-term objectives for 20 ⑥ Notice on the key tasks of deepening the reform of the medical and health system in 2021; ⑦ The 14th five year plan for national drug safety and promoting high-quality development; ⑧ Notice on promoting the implementation plan of high-quality development of the summary of the 2021 annual report of Jilin West Point pharmaceutical science and Technology Development Co., Ltd; ⑨ With the introduction of policies such as the measures for the administration of changes after drug listing (for Trial Implementation), the pharmaceutical industry has changed in production, environmental protection, R & D and other links.
(3) Business model of the company
① Profit model
The company is mainly engaged in the R & D, production and sales of chemical raw materials and preparations, and finally realizes the sales revenue and profit through the sales of core preparation products and key raw materials. During the reporting period, the company’s main business income came from the sales income of the company’s preparations and API products.
② Procurement mode
The material management department of the company is responsible for material procurement, including raw materials, auxiliary materials, packaging materials, etc. Considering the factors such as drug quality risk, material consumption and the impact of materials on product quality, the company divides materials into three levels: A, B and C. the supplier level is consistent with the corresponding level of materials provided. If suppliers provide materials of different levels, they shall be managed according to the high level.
③ Production mode
The production department of the company is responsible for formulating production plans, issuing production orders, supervising the implementation of production orders, and ensuring that the production workshop carries out production operations in accordance with the approved production process.
④ Sales model
According to different product categories, the company’s preparations and API products adopt different sales models. It is mainly divided into distribution mode and direct sales mode.
(4) Competitive advantage and market position of the company
① It has the advantage of core product differentiation
Since its establishment, the company has always adhered to the differentiated development path, continuously optimized the company’s product structure, and improved its comprehensive market competitiveness and anti risk ability. After years of efforts and development, the company’s product line structure is reasonable, and the market position of core preparation varieties and key API is prominent.
② It has the advantages of API production base
The company’s API production base is located in Jilin Chemical Circular Economy Park, which has the advantages of raw materials and Industrial Synergy benefits. For example, the development of API base has sufficient water resources guarantee, the supporting construction of public works such as sewage treatment, heating, power supply and gas supply is sound, and the carrying capacity of resources and environment is strong, so as to vigorously develop circular economy.
③ Integrated advantages of API preparation
The integrated business model of API and preparation enables the company to have more stable profitability. The company’s preparation products have the advantage of raw material cost, so as to prepare for the continuous expansion of the company’s business scale in the future and improve the company’s sustainable profitability and comprehensive competitive strength.
④ Management team advantages
The structure of the company’s management team is stable, and most of the core managers and key technicians have served in the company for more than 20 years. The company’s management team has a stable style, high decision-making efficiency and strong execution ability. It pays attention to the improvement of core competitiveness and the sustainable development of the company. Combined with the characteristics of the company, it has built a modern enterprise management system with clear rights and responsibilities, high efficiency and order. It has formulated and effectively implemented corresponding systems in production management, quality management, research and development management, marketing management and other aspects, laying a good team foundation for the future development of the company.
⑤ Innovation advantages of technology and process improvement
Product innovation and process improvement brought by technological innovation activities play a decisive role in the formation of the company’s competitive advantage and the improvement of its competitiveness. The scientific research team of the company has made long-term technical reserves in product independent research and development, cooperative research and development, process and technology innovation and improvement, which provides a solid guarantee for the sustainable and healthy development of the company. ⑥ Stable and efficient technical personnel team advantages
The company’s core technicians have rich professional knowledge and technical experience and have undertaken a number of national, provincial and municipal scientific research projects, including the national torch plan project. The company’s core technicians have continuously followed up in product R & D, process technology innovation and improvement, and achieved a number of technical achievements, which have been successfully applied to the large-scale production process, covering the development of all core products, production process optimization and quality assurance, providing a solid guarantee for the sustainable and healthy development of the company 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
By the end of 2021, by the end of 2020, by the end of 2019 compared with the end of last year
reduce
Total assets 594606181265507 Guizhou Sanli Pharmaceutical Co.Ltd(603439) 0 7.96% 53075903371
Net assets attributable to shareholders of listed companies 5241380563747211896416 11.02% 44661771149
20212020 year-on-year increase or decrease 2019
Operating income 2856559321128631871928 – 0.23% 32491421637
Net profit attributable to shareholders of listed companies 52019092214974243547 4.58% 5461347032
Deduction attributable to shareholders of listed companies is not 4499781313424242735494 6.06% 4959356016
Net profit of recurring profit and loss
Net cash flow from operating activities 59013817046454178189 – 8.56% 6593347582
Basic earnings per share (yuan / share) 0.8584 0.8208 4.58% 0.9012
Diluted earnings per share (yuan / share) 0.8584 0.8208 4.58% 0.9012
Weighted average return on net assets 10.44% – 0.48
