Stock Code: 688276 Stock Abbreviation: Baike Bio Announcement No.: 2022-002
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.
Changchun Baike Biotechnology Co., Ltd. (hereinafter referred to as the “Company”) held the third meeting of the fifth board of directors and the second meeting of the fifth board of supervisors on February 17, 2022. The Proposal on Impairment Provision”, the proposal does not need to be submitted to the general meeting of shareholders for deliberation. The relevant information is hereby announced as follows:
I. Overview of the provision for asset impairment
According to the “Accounting Standards for Business Enterprises” and the relevant provisions of the company’s accounting policies and accounting estimates, in order to truly and accurately reflect the company’s financial status as of December 31, 2021, in line with the principle of prudence, the company Assets such as inventories of the company and its subsidiaries have been tested for impairment, and sufficient communication has been conducted with the annual audit accountant to make provision for impairment of relevant assets that may suffer asset impairment losses. In 2021, the company accrues a total of 87,686,618.56 yuan for impairment of inventory assets, as follows:
2. The specific description of the provision for asset impairment
According to the “Accounting Standards for Business Enterprises” and the company’s accounting policies, the company has carried out an impairment test on the inventory items on the balance sheet date.
The company’s freeze-dried nasal spray influenza attenuated live vaccine (hereinafter referred to as “nasal spray influenza vaccine“) is a seasonally produced and seasonally sold product, and the product is valid for 10 months. The production time of products is mainly in the second and third quarters of each year, and the sales time is mainly in the third and fourth quarters of each year and the first quarter of the following year.
Based on the national influenza vaccination rate in 2020 and the good market feedback and sales of the company’s nasal spray influenza vaccine in the early stage of listing, in order to rapidly expand the market share of the vaccine, the company has actively and optimistically arranged the production and sales plan in 2021. However, due to the new crown epidemic and the centralized vaccination of the new crown vaccine, especially in the second half of 2021, the new crown vaccination work for people aged 3-17 will be launched in succession across the country, and the company’s nasal spray influenza vaccine is also suitable for people aged 3-17 years old, which happens to be the same period as the same period. The key populations for the new crown vaccination are highly overlapping, and the sales of this product are greatly affected during the flu season, resulting in some nasal spray influenza vaccines produced by the company gradually approaching the expiration date, and these products are not expected to be sold.
The company has decided to make provision for inventory impairment for nasal spray influenza vaccines that are not expected to be sold, including nasal spray influenza vaccines produced in 2020 and expected to be sold in the first quarter of 2021, and the second and third quarters of 2021. For some nasal spray influenza vaccines issued with certificates, the provision for inventory impairment will be 86,389,723.10 yuan in 2021.
At the end of 2021, the company made a provision for inventory impairment for storing nasal spray influenza vaccines that are not expected to be sold due to the approaching expiration date. This part of the inventory corresponds to the contract performance cost-logistics storage cost. The amount of inventory impairment provision made is 1,288,460.46 yuan.
At the end of 2021, the company made provision for depreciation of inventories for expired materials, with an amount of RMB 8,435.00.
3. The impact of the provision for asset impairment on the company
In 2021, the company’s consolidated statement will make provision for asset impairment of 87,686,618.56 yuan, reducing the company’s total profit in the company’s consolidated statement by 87,686,618.56 yuan.
The data has not been audited, and the final audit results of the company in 2021 shall prevail.
IV. Explanation of the board of directors on the rationality of the company’s provision for asset impairment
This matter has been reviewed and approved at the third meeting of the fifth session of the board of directors held by the company on February 17, 2022.
The board of directors of the company believes that the provision for asset impairment this time is based on the principle of prudence, in line with the “Accounting Standards for Business Enterprises” and the company’s accounting policies and other relevant regulations. accounting information.
V. Opinions of the Audit Committee on the Company’s provision for asset impairment
The audit committee of the board of directors discussed and reviewed the company’s “Proposal on the Provision of Asset Impairment Reserves in 2021”, and believed that the company’s provision for asset impairment this time was based on the principle of prudence, in line with the “Accounting Standards for Business Enterprises” and the company’s related According to the accounting policy, after the provision for asset impairment, it can more truly and fairly reflect the actual asset status of the company, which helps to provide investors with more true, reliable and accurate accounting information, and there is no harm to the company and all shareholders, especially the company. interests of minority shareholders.
VI. Independent opinions of independent directors on the company’s provision for asset impairment
The independent directors of the company believe that the provision for asset impairment this time complies with the relevant provisions of the Accounting Standards for Business Enterprises and the company’s accounting policies. Investors provide more real, reliable and accurate accounting information, and there is no situation that damages the interests of the company and all shareholders, especially small and medium shareholders. The decision-making procedure for the provision for asset impairment this time complies with the relevant laws and regulations and the provisions of the Articles of Association.
7. Opinions of the Supervisory Committee on the Company’s provision for asset impairment
The provision for asset impairment is based on the principle of accounting prudence, and the basis for the provision is sufficient, which is in line with the “Accounting Standards for Business Enterprises” and the company’s relevant accounting policies. After the company makes provision for impairment, it can more truly and fairly reflect the company’s actual asset status and financial status, which is in line with the company’s actual situation. The decision-making procedure of the company’s board of directors on this matter complies with relevant laws, regulations and the “Articles of Association” and other provisions, and there is no situation that damages the interests of the company and shareholders. The Supervisory Committee approved the company’s provision for asset impairment this time.
Special announcement.
Changchun Baike Biotechnology Co., Ltd.
Board of Directors
February 19, 2022
Stock Code: 688276 Stock Abbreviation: Baike Bio Announcement No.: 2022-003
Changchun Baike Biotechnology Co., Ltd.
Announcement on Resolutions of the Second Meeting of the Fifth Board of Supervisors
The board of supervisors and all supervisors of the company guarantee that there are no false records, misleading statements or major omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of the content in accordance with the law.
I. Meetings of the Supervisory Committee
On February 17, 2022, Changchun Baike Biotechnology Co., Ltd. (hereinafter referred to as the “Company”) held the second meeting of the fifth supervisory committee. The meeting was chaired by Mr. Feng Daqiang, chairman of the supervisory committee. The meeting should be attended by 3 supervisors. There are 3 supervisors, which are in line with the quorum stipulated in the “Company Law of the People’s Republic of China” and the “Articles of Association of Changchun Baike Biotechnology Co., Ltd.”, and the resolutions of this supervisory board meeting are legal and valid.
2. Deliberation at the meeting of the Supervisory Committee
After deliberation and voting by the supervisors present, the following resolutions were unanimously passed:
(1) Deliberation and approval of the “Proposal on Accrual of Asset Impairment Reserves in 2021”
The provision for asset impairment is based on the principle of accounting prudence, and the basis for the provision is sufficient, which is in line with the “Accounting Standards for Business Enterprises” and the company’s relevant accounting policies. After the company makes provision for impairment, it can more truly and fairly reflect the company’s actual asset status and financial status, which is in line with the company’s actual situation. The decision-making procedure of the company’s board of directors on this matter complies with relevant laws, regulations and the “Articles of Association” and other provisions, and there is no situation that damages the interests of the company and shareholders. The Supervisory Committee approved the company’s provision for asset impairment this time.
Voting: 3 votes in favor, 0 votes against, and 0 abstentions.
Special announcement.
Changchun Baike Biotechnology Co., Ltd.
Supervisory Board
February 19, 2022
Stock Code: 688276 Stock Abbreviation: Baike Biology Announcement No.: 2022-001
Changchun Baike Biotechnology Co., Ltd.
2021 Annual Results Express Announcement
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.
The main financial data for 2021 contained in this announcement is preliminary accounting data, which has not been audited by an accounting firm. The specific data is subject to the 2021 annual report of Changchun Baike Biotechnology Co., Ltd. (hereinafter referred to as the “Company”). Investors are advised to pay attention to investment risk.
1. Main financial data and indicators in 2021
Unit: RMB ten thousand
Note: 1. The opening amount of this report period is the same as the closing amount of the previous year disclosed by law.
2. The above financial data and indicators are based on the consolidated statement data, but have not been audited. The final result is based on the company’s 2021 annual report. Any discrepancies in the data are due to rounding.
2. Description of operating performance and financial status
(I) Operating conditions, financial conditions and main factors affecting operating results during the reporting period
During the reporting period, the company’s total operating income was 1,202,026,600 yuan, compared with 1,441,358,100 yuan in the same period of last year, a decrease of 239,331,500 yuan, or 16.60%; the net profit attributable to owners of the parent company was 243,553,400 yuan, compared with 418,234,800 yuan in the same period last year, a decrease of 174,681,400 yuan The net profit attributable to owners of the parent company after deducting non-recurring gains and losses was 233.6193 million yuan, compared with 401.8838 million yuan in the same period of the previous year, a decrease of 168.2645 million yuan, a decrease of 41.87%.
As of the end of the reporting period, the company’s total assets were 4,174,635,200 yuan, and 2,467,521,800 yuan at the beginning of the period, an increase of 1,707,113,400 yuan, or 69.18%; the owner’s equity attributable to the parent company was 3,417,583,200 yuan, and 1,779,956,100 yuan at the beginning of the period, an increase of 1,637,627,100 yuan, an increase of 92.00% .
During the reporting period, the main factors affecting the company’s operating performance include:
1. The impact of the new crown epidemic and the centralized vaccination of the new crown vaccine on the vaccines of non-immunization programs
In order to combat the new crown epidemic, according to the national new crown epidemic prevention and control strategy and related work deployment, as of the end of the reporting period, 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps have reported that a total of about 1.274 billion people have been vaccinated throughout the whole process, with a total of 2.796 billion doses of new crowns. The virus vaccination work has a certain impact on the vaccination rate of other vaccine products. Especially in the second half of 2021, on the basis of continuing to do a good job in vaccinating people over the age of 18, the new coronavirus vaccination work for people aged 3-17 has been launched in various parts of the country, resulting in the company’s main product, live attenuated varicella vaccine (hereinafter referred to as “varicella pox”). The promotion and vaccination of lyophilized nasal spray influenza vaccine”) and freeze-dried nasal spray influenza vaccine (hereinafter referred to as “nasal spray influenza vaccine”) have been greatly impacted. The more prominent impact is the promotion and vaccination of influenza vaccine. The vaccination of influenza vaccine has a strong seasonality, and the company’s nasal spray influenza vaccine is suitable for people aged 3-17, which is higher than the key population of the new crown vaccination in the same period. The overlap has greatly affected the vaccine promotion work of the overall influenza season.
2. The influence of the increasingly competitive landscape of the product market
In the past two years, vaccine products similar to the company’s have been approved for the market one after another, and the market competition in the industry has become increasingly intensified. For example, in the competition of influenza vaccine products, although the company’s nasal spray influenza vaccine adopts the nasal spray vaccination method, it can effectively enhance the vaccination. However, there are many influenza vaccine products in the market, and the market competition pressure of the company’s nasal spray influenza vaccine is still relatively high. Industry competition brings more challenges to the market promotion of the company’s vaccine products, and also affects product sales to a certain extent.
(2) Explanation on the main reasons for the increase or decrease of the items listed in the above table by more than 30%
1. Operating profit, total profit, net profit attributable to owners of the parent company, net profit attributable to owners of the parent company after deducting non-recurring gains and losses, basic earnings per share and other profit indicators in the reporting period compared with each other. large, mainly due to:
(1) Affected by factors such as the COVID-19 epidemic and the centralized vaccination of COVID-19 vaccines, as well as the increasingly fierce competition in the company’s product market, the company’s operating income during the reporting period decreased by RMB 239.3315 million year-on-year, a decrease of 16.60%;
(2) The company continued to increase investment in research and development, and continued to promote the research and development progress of products under research such as fully human anti-rabies monoclonal antibodies. This year’s expensed research and development expenditure was RMB 156,760,200, an increase of RMB 63,395,400 over the same period last year;
(3) The provision for impairment of assets increased. The company’s nasal spray influenza vaccine is a seasonal product, and the product is valid for 10 months. Affected by factors such as the new crown epidemic and the centralized vaccination of the new crown vaccine, the company has decided to calculate the nasal spray influenza vaccine and materials that have expired that are not expected to be sold. The provision for impairment of assets was raised, totaling RMB 87.6866 million.
2. Indicators such as total assets, owners’ equity attributable to the parent company, and net assets per share attributable to owners of the parent company changed significantly during the reporting period, mainly due to:
At the end of the reporting period, the company’s total assets increased by 69.18% compared with the beginning of the period, the owner’s equity attributable to the parent company increased by 92.00% compared with the beginning of the period, and the net assets per share attributable to owners of the parent company increased by 72.86% compared with the beginning of the period. This was due to the increase in funds raised by the public offering of stocks on the Shanghai Stock Exchange.
3. Risk Warning
The company has no major uncertainties that affect the accuracy of the content of this performance bulletin.
The main financial data for 2021 contained in this announcement is preliminary accounting data, which has not been audited by an accounting firm. The relevant data may be different from the data disclosed in the company’s 2021 annual report. The specific data is based on the data disclosed in the company’s 2021 annual report. Investors are advised to pay attention to investment risks.
Special announcement.
Changchun Baike Biotechnology Co., Ltd.
Board of Directors
February 19, 2022