I. Overview
In the first half of 2020, affected by the epidemic situation and industry changes, the scale trend of aquaculture continued to expand, and the trend of large-scale aquaculture enterprises gathering with high-quality animal protection enterprises in the selection of disease prevention and control products became more prominent. Leading animal protection enterprises with full product lines and comprehensive service capabilities have become the first choice for aquaculture customers. With a forward-looking strategic layout, the company has a complete product system of pigs, poultry, cattle, sheep, pets, vaccines, medicines, functional additives and so on. At the same time, it has improved the research and development capabilities of new products, the technical service capabilities of value-added customers and the internal operation capabilities, and has become the preferred partner of comprehensive animal protection product manufacturers, systematic solution service providers and many large-scale aquaculture groups. Based on the business philosophy of "customer demand as the core", the company integrates resources in an all-round way, and its business development moves towards the whole process of aquaculture, helping to improve the production efficiency and aquaculture indicators of group customers, thus promoting the continuous increase of the income proportion of group customers.
During the reporting period, the company achieved an operating income of 924,328,200 yuan, a year-on-year increase of 465,438+0.45%; Total profit199,234,700 yuan, up 65.80% year-on-year; The net profit attributable to shareholders of listed companies147,297,200 yuan, an increase of 70.60% over the previous year. By June 30, 2020, the total assets of the company were 3,722,449,500 yuan, the net assets attributable to shareholders were 2,654,38+08,654.38+076,5438+0.22 million yuan, the asset-liability ratio was 34.35%, and the net cash flow from operating activities was 654,38+065,438.
During the reporting period, the company mainly did the following work:
1, innovative research and development
R&D achievements: The bivalent subunit vaccine of Streptococcus suis and Haemophilus parasuis obtained the approval number of veterinary drug products, which is the first product with completely independent intellectual property rights in the world, and can prevent Streptococcus suis and Haemophilus parasuis at the same time. The identification of the results has reached the international leading level, and it is an important product with the trend of reducing resistance and replacing resistance, which provides a new choice for the prevention and control of bacterial diseases in pigs. Recombinant canine interferon-α (freeze-dried) has obtained the approval number of veterinary drug products, which is the first recombinant veterinary interferon product in China and has been widely used in clinical prevention and treatment of pet viral diseases. The company has obtained the national second-class new veterinary drug registration certificate, which can solve the problems of antibiotic abuse such as indigestion, loss of appetite, constipation and abdominal distension in animals, and is an important anti-infection product. Under the background of the policy of "reducing resistance instead of resistance", the company analyzed the product layout, and listed pre-mixed feed and Chinese veterinary drug products, such as Jintai, Gancaokang, Wang Ruili, Ganyishu, Sinitang and Sanxiang Zhengqi.
In terms of research products, the triple inactivated vaccine of porcine circovirus type 2 baculovirus vector, Mycoplasma hyopneumoniae and Haemophilus parasuis (types 4 and 5) has been clinically approved and is currently undergoing clinical trials. The virus is the three major diseases that harm the pig industry in China. This product will greatly reduce the immune difficulty of pig farms, realize one needle and three defenses, bring good experience to customers, and help to improve the market share of the company's pig vaccines; Canine parvovirus antiserum is currently in the stage of new veterinary drug registration information, which is used for emergency prevention of canine parvovirus disease, safe and efficient, and is an important product of the company's pet plate; The company strengthens the research on alternative products in feed, optimizes and upgrades the original products, improves product types and creates superior fist products.
The company is cooperating with national scientific research institutions and universities to develop new African swine fever vaccines and the second and third generation foot-and-mouth disease vaccines by adopting its own core technology.
During the reporting period, the company obtained 3 new veterinary drug registration certificates, 6 veterinary drug product approval numbers, 35 feed additives and additive premix feed products approval numbers and 6 invention patents. Details are as follows:
(1), a new veterinary drug registration certificate was added during the reporting period.
(2) During the reporting period, the approval number of veterinary drug products was newly obtained.
(3) During the reporting period, the approval number of feed additives and additive premix feed products was newly obtained.
(4) Newly granted patents were added during the reporting period.
(5) New trademarks were added during the reporting period.
(6) Progress of internal research projects during the reporting period
2. Production and operation
The company has 9 GMP production bases, and the procurement, technology, quality management and production are managed by the Biological Products Industry Development Center and the Pharmaceutical Industry Development Center.
The unification of production technology and quality standards of the two industrial centers will help to strengthen the synergy with marketing and R&D departments, so as to better meet market demand and serve customers. The company always adheres to the quality concept of "product is character, control is integrity, and quality is life", and insists on building product quality higher than national standards and taking customer demand as the guide.
Clear division of labor, clear responsibilities, through continuous process improvement, supply chain management and lean production, continue to build GMP benchmarks and automation benchmarks, improve production efficiency and reduce production costs.
3. Marketing and service
In the first half of 2020, the company's marketing carried out a series of resource allocation and adjustment, focusing on the guiding ideology of "changing ideas, changing organizations, changing mechanisms and replacing people", responding quickly during the double epidemic period and taking many measures to achieve performance goals. With the help of R&D, integration of production and marketing and iron triangle, we will continue to carry out in-depth strategic cooperation with the group's major customers, and realize the rapid growth of their business by providing systematic solutions and comprehensive operation and maintenance capabilities; The promotion of the new model of animal husbandry business has achieved remarkable results in distribution channels, and the pig product market is developed through the complementary products and technologies of strategic partners; Enrich innovative marketing methods, strengthen brand management, broaden market channels through various new modes such as live broadcast, ripple open class, video customer conference and WeChat business sales, and realize incremental sales; The effective integration of South China Biology and the headquarters marketing center has greatly promoted the sales of poultry products such as highly pathogenic avian influenza. Strengthen market research, dig deep into customer needs, quickly develop and supply personalized product solutions and services, and further improve market coverage and customer share by providing high-quality comprehensive product portfolio and systematic solutions.
4. Capital operation
In the first half of 2020, the company invested in Suzhou Aidiweixin Animal Medicine Co., Ltd. and Beijing Aidiweixin Biotechnology Co., Ltd. successively, established strategic cooperative relations with the above companies through investment, cooperated with international-level DNA vaccine technology platform for project development, accelerated industrialization with the help of existing DNA vaccine production technology, and formed complementary advantages through * * * sharing talents, research results and production technology, thus promoting the research and development and industrial layout of the company's DNA vaccines and pet vaccines. In the future, the company will continue to invest in the industrial chain, and its business areas include drug resistance, pet industry and vaccine for pigs. To further improve the company's industrial layout.
In order to further improve the company's productivity and efficiency, reduce production costs, effectively transform the company's technological advantages into competitive advantages, and maintain the leading position in the industry, in June 2020, the board of directors of the company deliberated and passed the plan of issuing convertible corporate bonds to unspecified objects. The funds raised this time will not exceed 6,543.80 billion yuan, which will be used to build an international standard veterinary drug preparation automation factory, a natural plant extraction industrial base, a large-scale biological suspension culture workshop in South China, a super-large fully suspended continuous flow cell culture technology for efficient preparation of animal vaccines, an R&D center upgrade-the second phase of the Institute of Biological Products, and supplementary liquidity. The investment in the above projects will help the company to build a modern advanced veterinary drug production base with higher production standards, environmental protection standards and safety standards, ease the bottleneck of production capacity, enhance the company's research and development capabilities, enhance the company's core competitiveness and profitability, and achieve the company's strategic objectives.
5. Human resources
In the first half of 2020, the company's 20 19 restricted stock incentive plan was released for the first time. The first batch of qualified personnel released 176 shares, and the number of shares released was 2 1 17700 shares, which was listed and circulated on July 1 2020. The implementation and fulfillment of this incentive greatly enhanced the work enthusiasm and enthusiasm of the incentive objects, made all the incentive objects give priority to improving and upgrading their personal work performance from the perspective of company development, stimulated the intrinsic creativity of the incentive objects, enhanced their recognition of the platform and loyalty to the company, and further improved and optimized the long-term incentive mechanism and restraint mechanism based on organizational vitality.
Two. Risks faced by the company and countermeasures (1) Human resource risks With the gradual expansion of the company's business, the demand for key personnel such as R&D, production, technology and marketing is increasing, and the stability of existing personnel is facing challenges. With the intensification of industry competition, in the face of fierce talent competition environment, how to increase the cohesion and stability of existing personnel and form an attraction for external outstanding talents has become an important issue. The company will continue to strengthen brand management and enhance corporate reputation. Carry out the construction of corporate culture with temperature to increase the centripetal force and cohesion of employees. Optimize and improve the salary incentive system, and try to implement a combination of long-term and short-term incentive policies, so that core employees can get higher returns and realize the continuous improvement of personal value on the company platform. Through the stock option incentive plan and employee stock ownership plan, the company will further promote the establishment and improvement of a long-term incentive and restraint mechanism, stimulate organizational vitality, fully mobilize the enthusiasm and creativity of the company's employees, and maintain the stability of the workforce. At the same time, the company will also try to promote the rotation system of different systems. At the same time, through the terminal compulsory elimination mechanism, the morale and performance of employees are improved, thus improving the per capita labor efficiency and per capita output. (2) Risk of product development Veterinary drug products have a long research and development cycle, large investment and strong uncertainty, and they need to obtain a new veterinary drug registration certificate and product production approval number before they can be produced. However, the disease mutates rapidly and the breeding environment is complex. Therefore, there may be risks in the research and development, approval, industrialization and marketization of veterinary drug products. According to the development trend of industry technology and market demand, the company determines the research and development topics of new products and technologies, and the research and development projects are closely related to market demand. Through the project risk analysis mechanism, regular supervision and evaluation, the progress of R&D plan is ensured and the risk of R&D investment is reduced. Adhere to the strategy of paying equal attention to independent research and development and cooperative research and development, product research and development and process research and development; Actively promote the industrialization of products with newly obtained drug approval number in combination with market demand, and effectively reduce all risks of veterinary drug products from research and development to listing. (3) Accounts receivable are risky. Under the background of severe macroeconomic situation and fierce market competition, the company actively adjusted its strategy, increased revenue and reduced expenditure, opened up external markets and improved its internal operation efficiency. In order to reduce financial risks, improve internal operating efficiency, boost the competitiveness of listed companies in the same industry, and accumulate potential energy for the next round of competition, the company comprehensively strengthens accounts receivable management by stages, plans and business scenarios, fully follows the principle of prudence, establishes a multi-dimensional customer evaluation system, and manages customers and monthly processes according to the annual accounts receivable management objectives. After a comprehensive diagnosis and investigation, risks and problems were discovered in time. Distinguish and deal with key risk customers and historical accounts, and keep the continuity and continuity of the company's accounts receivable management on the basis of referring to the bad debt provision policy of listed companies in the same industry, so as to ensure that the accounts receivable risks are controllable and constantly improved. (4) Animal epidemic risk The occurrence of animal epidemics, especially major animal epidemics, will have a great impact on the aquaculture industry and thus bring huge economic losses. As the upstream industry company of aquaculture, the company's operating performance will also be affected by animal epidemic. The outbreak of African swine fever since August 2065438+2008 has had a great impact on the domestic pig breeding industry, and also brought great challenges to the operation of the company's livestock business sector. In order to cope with the complex changes in the industry, the company's animal husbandry business team has taken a series of countermeasures and actively responded by increasing the promotion of pig vaccine products and strengthening the practical technical services for veterinary prevention and control in pig farms. Generally speaking, the company has rich product lines, reasonable industrial chain layout and good anti-risk ability.
3. The core competitiveness analysis company is a high-tech enterprise serving the animal health industry, which is committed to the prevention and treatment of animal diseases and the provision of overall solutions for healthy breeding. The company has a complete product line, strong R&D strength, leading technical service marketing model and leading market sales strength. 1.R&D Advantage Company adheres to the business philosophy of "scientific and technological innovation as the guide", introduces IPD R&D mode, and forms a market-centered, cross-departmental collaborative and efficient technological innovation system. Its R&D investment has always been at the forefront of the industry, forming a 300-person innovation team led by industry discipline leaders and doctoral students. The company has national innovation platforms such as National Enterprise Technology Center, National Local Joint Engineering Research Center, Key Laboratory of Bio-veterinary Drug Creation of Ministry of Agriculture, postdoctoral workstation and academician workstation. It is the first company in the industry to pass both the national preclinical evaluation (GLP) and the clinical evaluation (GCP) of new veterinary drugs, forming the advantage of leading the industry with scientific and technological innovation. The company's Institute of Biological Products has established a number of technological innovation platforms, such as bioreactor full suspension serum-free culture technology, antigen concentration and purification technology, live vaccine heat-resistant protection technology, genetic engineering technology, polypeptide vaccine synthesis technology, new immune adjuvant development and so on. Relying on the scientific and technological innovation platform, it has promoted the independent research and development of products in livestock, poultry, pets, waterfowl and other fields, solved a series of key technologies and bottleneck technologies such as livestock and poultry vaccines, ensured the safety and effectiveness of products, promoted the upgrading of veterinary biological products in China, and promoted the scientific and technological progress and sustainable development of the industry. The Company's Pharmaceutical Research Institute has four research institutions, namely, Chemical Medicine Research Center, Chinese Veterinary Medicine Research Center, Animal Nutrition and Health Research Center, and Drug Analysis and Evaluation Center, forming 16 research and development platforms, including drug Qualcomm screening, veterinary crystal research and development, drug sustained and controlled release research and development, and high-density liquid fermentation. Especially in the technical fields of new crystal forms of veterinary drugs, new enteric-coated stomach-soluble preparations, solid dispersions, etc., many new veterinary drugs such as tilmicosin enteric-coated granules and decoquinate dry suspension are the first in the world, which has established our company's position as a leading enterprise in the field of veterinary chemicals in China. Bohai Institute of Agriculture and Animal Husbandry is mainly engaged in epidemic disease monitoring, veterinary drug testing, food testing and safety and effectiveness evaluation of veterinary drugs. It is a professional third-party evaluation institution certified by CMA, GLP and GCP. 2. Production lines and product advantages The company has 79 production lines, and the products produced are mainly used for disease monitoring, diagnosis, prevention, treatment and health care of poultry, livestock, pets and other animals. Among them, the pharmaceutical industry development center includes five major fields: animal-specific raw materials, pharmaceutical preparations, traditional Chinese medicine preparations, animal nutrition and health functional additives, and cleaning disinfectants. It has five large-scale production bases, including 365 and 438+0 GMP production lines for pharmaceutical preparations, 7 GMP production lines for raw materials and 9 production lines for feed additives. Among them, many production lines such as breast injection and inhalation anesthetics without sterilization at the end are the first in China, and they are the first to obtain GMP certificates. The Biological Products Industry Development Center includes vaccines, biochemical preparations and diagnostic products for livestock and poultry, and has 4 large-scale production bases and 32 GMP production lines, among which the recombinant cytokine production line is the first GMP production line for interferon production in China. At present, the company has more than 280 kinds of animal products such as poultry, livestock, pets and waterfowl, including nearly 170 kinds of chemical drugs, more than 60 kinds of biological products, more than 30 kinds of feed additives and more than 30 kinds of plant extracts. It has become one of the few enterprises in the domestic veterinary drug industry with the most complete products and strong competitive advantages in the field of biological products and preparations. The company always adheres to the quality policy of "internal control standard is higher than the national standard 10%", and the qualified rate of product quality sampling is in the forefront of the industry, and the main products are in the forefront of many market segments. After 20 years of continuous innovation and development, the company has been engaged in inactivated avian influenza virus H5 subtype vaccine, H9 subtype avian influenza vaccine product line series and porcine circovirus type 2 vaccine; Development and industrialization direction of high-end veterinary crystal drugs and preparations such as cephalosporin crystal raw materials and preparations, tilmicosin raw materials and enteric-coated preparations, sustained and controlled release and suspension preparations; Subsectors such as pure Chinese medicine preparations, animal breeding environmental regulators and disinfectants have formed leading advantages. The project "Development and Industrialization of High-end Veterinary Crystal Drugs and Preparations" won the first prize of Tianjin Science and Technology Progress Award. Stable quality has won a high reputation and reputation for the company's products, and the high-quality product effect has made the "Rip" brand widely recognized by the industry and customers. 3. Advantages of marketing and technical service system The company established an animal disease detection and diagnosis center, which further improved the company's technical service level; At the same time, give full play to the technical advantages of the company and the expert committees of colleges and universities, realize the upgrade of technical services through rapid diagnosis of diseases and epidemics, and provide scientific and effective programs for disease control and purification; Through perfect market network construction, efficient logistics service mechanism and comprehensive and fast disease diagnosis service, the company provides systematic breeding solutions for customers, adding value to customers, and the proportion of big customer business is increasing year by year. 4. Advantages of management innovation The company adheres to the core concept of "foresight, innovation, honesty and sharing", keeps advanced in technology development, marketing service and management mode, and promotes organizational synergy and organizational performance through management changes, thus enhancing the company's profitability.