西安2022年2月3日 /广东会/ -- 西安天美生物科技股份有限公司（纳斯达克代码：BON）（“天美生物”或“公司”），一家在天然、健康和个人护理行业提供关键活性成分及解决方案的领先供应商，今天宣布其截至2021年9月30日的全年财务业绩。
2021财年财务亮点
*本新闻稿末尾的附表包含财报的GAAP和非GAAP指标的调整。关于我们非GAAP指标的调整，请参见非GAAP财务指标的解释。
管理层讨论
“我们对公司业务的强劲需求的趋势感到高兴，并且对公司实现了两位数的销售增长和创下新高的收入感到自豪。这些结果充分的说明了我们强大的产品力、持续创新能力、以及我们作为客户重要合作伙伴的价值。” 天美生物公司董事长兼CEO胡永卫先生表示，“在短期内，因为全球疫情的久拖不决、全球贸易关系和宏观经融政策的变化，我们面临着前所未有的全球供应链挑战以及通货膨胀相关的原材料和物流相关成本的增加，但我相信我们团队完全有能力应对这些困境和压力。并且我们将“转为危机”，以此为契机推动公司的产品组合转向更技术含量和更高利润的产品系列，以增加我们的定价能力，获取更高的利润率；同时我们将提升优化产能，并实施强而有力的成本控制措施。值得一提的是，我们以人体微生物为靶标的终端系列产品2021年取得了显著进展，随着我们全天然个人护理产品-羽淳的成功推出，以及水苏糖益生菌粉等其他一系列产品陆续上市，在强大产品力和巨大市场需求的驱动下，我们对自己在终端用户市场快速取得的进展有充分的信心。最后一点，随着今年玉门工厂的完成投产，将能带来150%的收入增长，也使得我们能更高效地服务来自国内外的客户，加速我们的全球业务扩张计划，并为我们的投资者创造持久的长期价值。”
2021财年产品（按类别）与上年相比增长总结：
收入增加（减少） |
毛利润增加（减少） |
|
香料原料 |
61.7% |
82.3% |
膳食补充剂（固体饮料） |
71.2% |
81.8% |
生物活性食品原料 |
(5.6%) |
(14.2%) |
香料原料
膳食补充剂（固体饮料）
生物活性食品原料
销售费用从161,719美元减少到2021年同期的138,530美元，减少了23,189美元，或约14.3%。减少的原因是公司通过网络营销和销售推广，将重点转向国内大型客户，从而实现成本节约。
研究和开发费用从2020财年的205,359美元增长至249,050美元，增长了43,691美元，或约21.3%。增长的主要原因是研究材料的消耗增长了26,391美元以及研发测试和检验相关的费用增长了10,647美元。
政府补贴以补贴形式获得并确认为其他营业收入，在截至2021年9月30日和2020年9月30日的财年里，总额分别为446,910美元和332,418美元。
净利润从截止至2020年9月30日财年的310万美元增长至2021年同期的461万美元。
经营活动产生的净现金在截止至2021年9月30日的财年期间为405万美元，2020年同期为264万美元。
每股基本收益（“EPS”）为0.69美元，2020年同期为0.58美元。
稀释后每股收益（“EPS”）为0.68美元，2020年同期为0.58美元。
报告期后事件
投资者电话会议和网络直播
讨论公司2021年财年财务业绩的网络直播将于2022年2月3日美国东部时间上午9:00开始。网络直播和相关PPT的获取可以访问公司的投资者网站 https://ir.bnlus.com/events-presentations/。对于无法观看网络直播的人，在活动结束后公司将在网站上提供录制版本。
西安天美生物有限公司
西安天美生物专注于膳食营养补充剂的生物活性成分的生产，如为食品制造商提供天然益生元；个人护理成分的生产，如为香水香料制造商提供从植物来源的香料原料，天然复配膳食补充剂生产，如固体饮料。欲了解更多信息，请访问公司网站：www.bnlus.com.
安全港声明
本新闻稿包含了1995年《私人证券诉讼改革法案》中的前瞻性声明。前瞻性声明包括了有关公司计划、目标、战略、未来事件或业绩的声明，以及其他假设和不包含历史事件的声明。当公司使用诸如“可能”、“将”、“打算”、“应该”、“相信”、“期望”、“预期”、“计划”、“估计”等或其他类似的表达方式，并不与历史事件有关，就是在做前瞻性声明。前瞻性声明不是对公司未来业绩的保证，涉及风险和不确定性，可能会导致实际结果与前瞻性声明中讨论的公司预期有实质性的差异。这些陈述受不确定性和风险因素的印象，包括但不限于：公司的目标和战略、公司的未来业务发展、公司产品和服务的需求、技术的变化、经济状况、中国天然健康和个人护理行业的发展及公司希望发展的其他国际市场、声誉和品牌、竞争和定价的影响、政府法规、中国及公司希望发展的其他国际市场的经济和商业状况的变动，以及与上述任何情况相关的假设和公司提交给SEC报告中所陈述的其他风险。因此，我们提醒投资者不要过分依赖本新闻稿中的前瞻性陈述。公司向SEC提交的文件中讨论了其他因素，这些文件可在www.sec.gov上查阅。公司不承担公开修订本声明日期之后出现的事件或情况的前瞻性声明的义务。
更多信息，请联系：
In the United States: |
In China: |
Maggie Zhang | Impact IR |
Sophie Zhang | Impact IR |
Phone: (646) 893-8916 |
Email: sophie.zhang@irimpact.com |
Email: maggie.zhang@irimpact.com |
BON NATURAL LIFE LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
September 30 |
||||||||
2021 |
2020 |
|||||||
ASSETS |
||||||||
CURRENT ASSETS |
||||||||
Cash |
$ |
1,903,867 |
$ |
53,106 |
||||
Short-term investments |
1,703,314 |
- |
||||||
Accounts receivable, net |
6,152,807 |
5,771,008 |
||||||
Inventories, net |
1,596,492 |
1,016,442 |
||||||
Advance to suppliers, net |
4,094,312 |
3,491,145 |
||||||
Deferred initial public offering costs |
- |
510,079 |
||||||
Acquisition deposit |
1,000,000 |
- |
||||||
Prepaid expenses and other current assets |
98,960 |
7,434 |
||||||
TOTAL CURRENT ASSETS |
16,549,752 |
10,840,214 |
||||||
Property, plant and equipment, net |
19,228,642 |
14,171,963 |
||||||
Intangible assets, net |
411,056 |
140,993 |
||||||
Right-of-use lease assets, net |
201,007 |
- |
||||||
Deferred tax assets, net |
22,342 |
49,059 |
||||||
TOTAL ASSETS |
$ |
36,412,799 |
$ |
25,202,229 |
||||
LIABILITIES AND EQUITY |
||||||||
CURRENT LIABILITIES |
||||||||
Short-term loans |
$ |
41,381 |
$ |
1,289,081 |
||||
Current portion of long-term loans |
448,005 |
1,227,346 |
||||||
Third party loans |
- |
690,327 |
||||||
Accounts payable |
380,385 |
1,288,629 |
||||||
Due to related parties |
245,104 |
2,322,990 |
||||||
Taxes payable |
5,052,018 |
4,402,625 |
||||||
Deferred revenue |
1,096,101 |
385,978 |
||||||
Accrued expenses and other current liabilities |
41,711 |
56,604 |
||||||
Finance lease liabilities, current |
161,286 |
33,389 |
||||||
Operating lease liability, current |
62,871 |
- |
||||||
TOTAL CURRENT LIABILITIES |
$ |
7,528,862 |
$ |
11,696,969 |
||||
Long-term loans |
2,173,532 |
2,482,251 |
||||||
Finance lease liabilities, noncurrent |
28,953 |
- |
||||||
Operating lease liability, noncurrent |
146,703 |
- |
||||||
TOTAL LIABILITIES |
9,878,050 |
14,179,220 |
||||||
COMMITMENTS AND CONTINGENCIES |
- |
- |
||||||
EQUITY |
||||||||
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 8,330,000 and 5,800,000 shares issued and outstanding as of September 30, 2021 and 2020, respectively |
$ |
833 |
$ |
580 |
||||
Additional paid in capital |
15,540,433 |
5,251,205 |
||||||
Statutory reserve |
1,050,721 |
579,922 |
||||||
Retained earnings |
9,192,676 |
5,072,672 |
||||||
Accumulated other comprehensive income (loss) |
222,221 |
(388,102) |
||||||
TOTAL BON NATURAL LIFE LIMITED SHAREHOLDERS’ EQUITY |
26,006,884 |
10,516,277 |
||||||
Non-controlling interest |
527,865 |
506,732 |
||||||
Total equity |
26,534,749 |
11,023,009 |
||||||
TOTAL LIABILITIES AND EQUITY |
$ |
36,412,799 |
$ |
25,202,229 |
||||
BON NATURAL LIFE LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the Years Ended September 30, |
||||||||||||
2021 |
2020 |
2019 |
||||||||||
REVENUE |
$ |
25,494,564 |
$ |
18,219,959 |
$ |
16,396,018 |
||||||
COST OF REVENUE |
(18,382,637) |
(13,017,646) |
(11,113,922) |
|||||||||
GROSS PROFIT |
7,111,927 |
5,202,313 |
5,282,096 |
|||||||||
OPERATING EXPENSES |
||||||||||||
Selling expenses |
(138,530) |
(161,719) |
(273,841) |
|||||||||
General and administrative expenses |
(1,323,726) |
(1,367,070) |
(1,310,215) |
|||||||||
Research and development expenses |
(249,050) |
(205,359) |
(522,867) |
|||||||||
Total operating expenses |
(1,711,306) |
(1,734,148) |
(2,106,923) |
|||||||||
INCOME FROM OPERATIONS |
5,400,621 |
3,468,165 |
3,175,173 |
|||||||||
OTHER INCOME (EXPENSES) |
||||||||||||
Interest income |
3,207 |
714 |
2,271 |
|||||||||
Interest expense |
(417,266) |
(329,102) |
(333,190) |
|||||||||
Unrealized foreign transaction exchange gain (loss) |
(45,124) |
(248) |
5,281 |
|||||||||
Gain on disposal of fixed assets |
- |
20,150 |
- |
|||||||||
Government subsidies |
449,972 |
362,187 |
140,295 |
|||||||||
Income from short-term investments |
565 |
- |
- |
|||||||||
Other income |
38,409 |
132,713 |
- |
|||||||||
Total other income (expenses), net |
29,763 |
186,414 |
(185,343) |
|||||||||
INCOME BEFORE INCOME TAX PROVISION |
5,430,384 |
3,654,579 |
2,989,830 |
|||||||||
INCOME TAX PROVISION |
(820,931) |
(556,262) |
(427,194) |
|||||||||
NET INCOME |
4,609,453 |
3,098,317 |
2,562,636 |
|||||||||
Less: net income (loss) attributable to non-controlling interest |
18,650 |
71,644 |
(11,167) |
|||||||||
NET INCOME ATTRIBUTABLE TO BON NATURAL LIFE LIMITED |
$ |
4,590,803 |
$ |
3,026,673 |
$ |
2,573,803 |
||||||
OTHER COMPREHENSIVE INCOME (LOSS) |
||||||||||||
Total foreign currency translation adjustment |
612,806 |
450,234 |
(281,699) |
|||||||||
TOTAL COMPREHENSIVE INCOME |
5,222,259 |
3,548,551 |
2,280,937 |
|||||||||
Less: comprehensive income (loss) attributable to non-controlling interest |
21,133 |
81,737 |
(10,969) |
|||||||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO BON NATURAL LIFE LIMITED |
$ |
5,201,126 |
$ |
3,466,814 |
$ |
2,291,906 |
||||||
EARNINGS PER SHARE |
||||||||||||
Basic |
$ |
0.69 |
$ |
0.58 |
$ |
0.50 |
||||||
Diluted |
$ |
0.68 |
$ |
0.58 |
$ |
0.50 |
||||||
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING |
||||||||||||
Basic |
6,615,833 |
5,210,649 |
5,166,667 |
|||||||||
Diluted |
6,706,235 |
5,210,649 |
5,166,667 |
|||||||||
BON NATURAL LIFE LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended September 30, |
||||||||||||
2021 |
2020 |
2019 |
||||||||||
Cash flows from operating activities |
||||||||||||
Net income |
$ |
4,609,453 |
$ |
3,098,317 |
$ |
2,562,636 |
||||||
Adjustments to reconcile net income to cash provided by operating activities |
||||||||||||
Allowance for doubtful accounts |
2,948 |
22,137 |
34,328 |
|||||||||
Depreciation and amortization |
228,547 |
230,597 |
226,633 |
|||||||||
Inventory reserve (recovery) |
(312,532) |
29,539 |
- |
|||||||||
Deferred income tax |
29,109 |
(7,751) |
(5,149) |
|||||||||
Amortization of operating lease right-of-use assets |
58,147 |
- |
||||||||||
Amortization of stock options |
44,910 |
- |
- |
|||||||||
Unrealized foreign currency exchange loss (gain) |
45,124 |
248 |
(5,281) |
|||||||||
Gain on disposal of property and equipment |
- |
(20,150) |
- |
|||||||||
Changes in operating assets and liabilities: |
||||||||||||
Accounts receivable |
(89,543) |
(284,546) |
(2,912,222) |
|||||||||
Inventories |
(209,011) |
1,636,321 |
6,681,972 |
|||||||||
Advance to suppliers, net |
(399,262) |
(3,021,739) |
168,868 |
|||||||||
Prepaid expenses and other current assets |
2,642 |
72,116 |
173,609 |
|||||||||
Accounts payable |
(969,414) |
(1,982,205) |
(78,356) |
|||||||||
Operating lease liabilities |
(49,648) |
- |
- |
|||||||||
Taxes payable |
410,716 |
2,662,542 |
1,538,662 |
|||||||||
Deferred revenue |
684,030 |
161,045 |
(1,223,824) |
|||||||||
Accrued expenses and other current liabilities |
(33,092) |
46,605 |
(57,053) |
|||||||||
Net cash provided by operating activities |
4,053,124 |
2,643,076 |
7,104,823 |
|||||||||
Cash flows from investing activities |
||||||||||||
Purchase of short-term investments |
(2,159,920) |
- |
- |
|||||||||
Proceeds upon redemption of short-term investments |
470,082 |
- |
- |
|||||||||
Purchase of property and equipment |
(51,878) |
(31,885) |
(213,634) |
|||||||||
Capital expenditures on construction-in-progress |
(4,432,941) |
(4,301,103) |
(6,861,257) |
|||||||||
Purchase of intangible assets |
(269,088) |
- |
- |
|||||||||
Refund (payment) of acquisition deposit |
(1,000,000) |
1,329,945 |
(1,355,067) |
|||||||||
Net cash used in investing activities |
(7,443,745) |
(3,003,043) |
(8,429,958) |
|||||||||
Cash flows from financing activities |
||||||||||||
Net proceeds from issuance of Ordinary Shares in initial public offerings |
11,271,480 |
- |
- |
|||||||||
Proceeds from short-term loans |
1,257,225 |
2,033,570 |
4,008,293 |
|||||||||
Proceeds from long-term loans |
1,245,871 |
319,342 |
- |
|||||||||
Repayment of short-term loans |
(2,563,433) |
(2,872,778) |
(4,514,482) |
|||||||||
Repayment of long-term loans |
(2,522,101) |
- |
- |
|||||||||
Proceeds from (repayment of) borrowings from related parties |
(2,262,378) |
1,067,808 |
543,976 |
|||||||||
Proceeds from (repayment of) third party loans |
(721,484) |
238,133 |
(101,793) |
|||||||||
Principal payment from (repayment of) finance lease |
169,153 |
(392,030) |
432,722 |
|||||||||
Capital contribution from non-controlling interest |
- |
- |
435,964 |
|||||||||
Payment for deferred initial public offering costs |
(521,651) |
(281,553) |
- |
|||||||||
Net cash provided by financing activities |
5,352,682 |
112,492 |
804,680 |
|||||||||
Effect of changes of foreign exchange rates on cash |
(111,300) |
6,810 |
(6,630) |
|||||||||
Net increase (decrease) in cash |
1,850,761 |
(240,665) |
(527,085) |
|||||||||
Cash, beginning of year |
53,106 |
293,771 |
820,856 |
|||||||||
Cash, end of year |
$ |
1,903,867 |
$ |
53,106 |
$ |
293,771 |
||||||
Supplemental disclosure of cash flow information |
||||||||||||
Cash paid for interest expense |
$ |
417,266 |
$ |
276,671 |
$ |
333,190 |
||||||
Cash paid for income tax |
$ |
2,411 |
$ |
- |
$ |
115,179 |
||||||
Supplemental disclosure of non-cash investing and financing activities |
||||||||||||
Amortization of share-based compensation for initial public offering services |
$ |
422,221 |
$ |
211,112 |
$ |
- |
||||||
Right-of-use assets obtained in exchange for operating lease obligations |
$ |
257,564 |
$ |
- |
$ |
- |
||||||
Bon Natural Life Limited
GAAP to Non-GAAP Reconciliation
The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.
Reconciliation of Adjusted EBITDA to Net Income |
|||||
30-Sep |
|||||
2021 |
2020 |
||||
Net income |
$ |
4,609,453 |
$ |
3,098,317 |
|
Interest expense |
417,266 |
329,102 |
|||
Income taxes |
820,931 |
556,262 |
|||
Depreciation and amortization |
228,547 |
230,597 |
|||
Non-cash item(1) |
44,910 |
- |
|||
Adjusted EBITDA |
$ |
6,121,107 |
$ |
4,214,278 |
|
(1) Non-cash item represents adjustment of stock-based compensation to reconcile net income to net cash provided by operations as presented on the Statement of Cash Flows
