感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后 感谢大家参加本次会议会议即将开始请稍后感谢大家参加本次会议 大家好欢迎参加远大一二二零二四年中企业企业交流会目前所有参会者均处于静音状态下面开始公报声明本次会议仅服务邀请参会的广大投资者会以PPT音频及文字记录的内容仅供参会者内部使用不得公开发布 远大医药为授权人和媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权远大医药将保留追究其法律责任的权利远大医药不承担因转载转发而产生的任何损失和责任市场有风险投资需谨慎提醒广大投资者谨慎做出投资决策在会议开始前我们提示各位投资者在主讲嘉宾翻译结束后将留有提问时间接下来有请公司主持人发言谢谢 各位投资人大家上午好非常感谢大家来参加中金公司中进证券华泰证券新业证券国进证券国源证券医药团队联合举办的远大医药2024年中期业绩交流会我本人是中金医药分析师朱元音在线的还有我的同事刘亚军博士 那今天呢我们先非常荣幸邀请到公司的各位管理层他们分别是广社会主席总裁唐伟坤博士行政总裁周超先生财务及运营副总裁姚薇女士来参加本次业绩电话会那么公司昨天也公布了202 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Grand Pharmaceutical Group Limited 怈⣏慓喍普⛀㚱旸℔⎠* (㕤䘦ヽ忼姣Ⅎㆸ䩳ᷳ㚱旸℔⎠) (偉ấẋ嘇: 00512) 二零二四年中期業績公佈 | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 財務摘要 | ...

Share Incentive Plan - The purpose of the share incentive plan is to recognize the contributions of selected participants and motivate them to remain with the group, thereby promoting the group's ongoing operations, growth, and development[2] - The remaining term of the share incentive plan is approximately seven and a half years, effective until December 31, 2033[3] Supplementary Information - The supplementary information provided does not affect other information disclosed in the annual report[4]

也是国内的先驱者之一今天我们非常高兴的邀请到了远大医药的高级投资者关系经理杨总来和我们进行线上的交流那首先还是请杨总用十几二十分钟的时间向大家先简单介绍一下公司的基本情况和最新的进展然后我们会留有提问的时间那我这边就先把时间交给杨总谢谢杨总 好的谢谢宋老师感谢国证证券的组织和邀请那么也非常感谢各位参会的投资者对远大医药的关注那么今天我就先把公司的整体的最新的一些近况跟大家做一下简单的分享包括公司在去年取得的业绩成绩还有我们的在经营在研发方面取得的一些进展 首先因为可能今天有些投资者对于公司不是那么的了解那么我就先整体介绍一下公司的概况远大医药是一家有80多年发展历史的一家老牌的制药企业了那么目前我们的员工是过万人包含了有境内外的实体企业超过30家 那公司是一家这个多元化这个综合性的药器我们目前的业务板块呢主要分为三大块制药然后荷药抗肿瘤及这个心脏血管精准介入器械还有一块呢就是生物 那么纵观公司的一个发展历史我们公司的前身是武汉制药厂最早的这种传统核心的产业及优势就在于心脑血管的急救领域我们是在2002年的时候并入中国远大集团2008年在香港上市之后我们就通过持续不断地扩大多元化公司的产品管线 所以就形成了我们 ...

远大240630 ...

也是国内的先驱者之一今天我们非常高兴的邀请到了远大医药的高级投资者关系经理杨总来和我们进行线上的交流那首先还是请杨总用十几二十分钟的时间向大家先简单介绍一下公司的基本情况和最新的进展然后我们会留有提问的时间那我这边就先把时间交给杨总谢谢杨总 好的谢谢宋老师感谢国证证券的组织和邀请那么也非常感谢各位参会的投资者对远大医药的关注那么今天我就先把公司的整体的最新的一些近况跟大家做一下简单的分享包括公司在去年取得的业绩成绩还有我们的在经营在研发方面取得的一些进展 首先因为可能今天有些投资者对于公司不是那么的了解那么我就先整体介绍一下公司的概况远大医药是一家有80多年发展历史的一家老牌的制药企业了那么目前我们的员工是过万人包含了有境内外的实体企业超过30家 那公司是一家这个多元化这个综合性的药器我们目前的业务板块呢主要分为三大块制药然后荷药抗肿瘤及这个心脏血管精准介入器械还有一块呢就是生物 那么纵观公司的一个发展历史我们公司的前身是武汉制药厂最早的这种传统核心的产业及优势就在于心脑血管的急救领域我们是在2002年的时候并入中国远大集团2008年在香港上市之后我们就通过持续不断地扩大多元化公司的产品管线 所以就形成了我们 ...

证券研究报告 | 2024年05月15日 远大医药（00512.HK） 买入 2023 年营收增长 10%，核药抗肿瘤板块快速放量 核心观点 公司研究·财报点评 收入增长稳健，扣除非经常性因素和汇率影响后归母溢利同比持平。2023 医药生物·化学制药 年公司实现收入105.30亿港币，同比增长10.1%，扣除汇率变动影响同比增 证券分析师：张超 证券分析师：张佳博 长约15.8%，各核心业务保持稳健增长，创新业务处于放量初期；实现归母 0755-81982940 021-60375487 zhangchao4@guosen.com.cnzhangjiabo@guosen.com.cn 溢利18.80亿港币，同比下降9.6%；若扣除对Telix投资的公允价值变动收 S0980522080001 S0980523050001 益（1.60亿港币）以及一次性的行政罚款（3.16亿港币）影响，正常化的 基础数据 归母溢利约20.36亿港币，同比下降约4.7%，进一步扣除汇率变动的影响后 投资评级 买入(维持) 同比增长约0.2%。董事会建议派发2023年年度末期股息每股26港仙，共约 合理估值 收盘价 4.99港元 ...

Investment Rating - The report initiates coverage on Grand Pharmaceutical Group (0512 HK) with a "Buy" rating [6] Core Views - Grand Pharmaceutical Group is a long-established pharmaceutical company with three major business segments: pharmaceutical technology, nuclear medicine oncology, and precision cardiovascular intervention technology, along with biotech [2] - The company achieved revenue of HKD 10 53 billion in 2023, a 10 12% YoY increase, with net profit attributable to shareholders of HKD 1 88 billion, a 9 59% YoY decline [2] - The nuclear medicine oncology segment is expected to drive rapid growth, while the cardiovascular and respiratory segments are projected to maintain stable growth [6] - Revenue is forecasted to reach HKD 12 00 billion in 2024, HKD 13 92 billion in 2025, and HKD 15 32 billion in 2026, with EPS of HKD 0 64, HKD 0 68, and HKD 0 73 respectively [6] Business Segments Nuclear Medicine Oncology - The company is actively expanding its nuclear medicine oncology pipeline, with its flagship product Y-90 microspheres (Yigantai®) showing significant efficacy in treating primary liver cancer and colorectal cancer liver metastases [3] - Colorectal cancer is the third most common cancer globally, accounting for 10% of all cancer cases, while liver cancer is highly prevalent in China, with 47% of global new cases in 2018 [3] - Yigantai® has been approved for colorectal cancer liver metastases and is expected to gain approval for primary liver cancer soon, becoming a key growth driver [3] - The company has 14 innovative nuclear medicine products in its pipeline, including 9 RDC (radiopharmaceutical drug conjugate) products, with 4 in clinical trials in China [29] Precision Cardiovascular Intervention - The company entered the cardiovascular medical device field in 2015 through acquisitions and has built a comprehensive platform covering coronary, peripheral, structural heart, and electrophysiology [4] - Key products include drug-coated balloons (DCB), Novasight Hybrid intravascular imaging system, and HeartLightX3 laser ablation platform [4] - The DCB market in China is expected to grow from RMB 4 39 billion in 2019 to RMB 8 38 billion in 2024, driven by aging population and policy support [52] - The electrophysiology device market in China is projected to reach RMB 15 7 billion by 2025, with HeartLightX3 showing promising potential [57] Traditional Business Segments - The company has a strong presence in traditional segments such as cardiovascular emergency, ophthalmology, respiratory, and biotech products, with stable market share and brand influence [5] - In ophthalmology, products like polyethylene alcohol eye drops and He Xue Ming Mu tablets have shown steady sales growth [61] - The respiratory segment includes products like Xiao Qing Zao enteric-coated soft capsules, which have maintained a strong market position [61]

Performance and Growth - In 2023, Grand Pharmaceutical Group achieved a record high in both performance and industrial scale, with 30 products approved for market and 3 major acquisitions completed[22]. - The revenue growth rate for the nuclear medicine oncology segment approached 300%, driven by the increasing market penetration of core products[24]. - Total revenue for 2023 reached HKD 10,529,590, an increase of 10.1% from HKD 9,562,285 in 2022[50]. - Profit before tax for 2023 was HKD 2,344,197, down 6.8% from HKD 2,516,893 in 2022[50]. - Net profit for the year was HKD 1,895,442, a decrease of 9.7% compared to HKD 2,098,251 in 2022[50]. - The group’s revenue for the year ended December 31, 2023, was approximately HKD 10,529,590,000, representing a year-on-year increase of about 10.1%[148]. - The net profit attributable to the company's owners for the same period was approximately HKD 1,879,998,000, a decrease of about 9.6% year-on-year[148]. Research and Development - The company has 138 ongoing research projects, including 46 innovative projects, and has made significant progress with 77 major milestones reached in 2023[23]. - The company is enhancing its R&D capabilities, with 17 new core patents and 118 patent authorizations obtained in 2023[23]. - The group has a pipeline of 138 projects, with 46 innovative projects at various stages from pre-clinical to new drug application[158]. - The group has established multiple R&D platforms globally, including a pharmaceutical technology center in Wuhan, China, and an mRNA technology platform in Nanjing, China[159]. - The group has over 700 R&D personnel, with nearly 450 holding master's or doctoral degrees, representing over 60% of the team[160]. Product Development and Innovation - The company launched 5 new products that entered the New Drug Application (NDA) stage and 8 products that entered clinical trial phases[24]. - The innovative drug Ryaltris for allergic rhinitis has received NDA acceptance in China, while the mRNA therapeutic vaccine ARC01 has been approved for clinical research targeting HPV-related tumors[24]. - The global innovative ophthalmic drug GPN00884 for delaying myopia progression has received IND acceptance in China[35]. - The company commercialized the innovative liquid embolic agent Lava™ in the U.S., which is the first and only FDA-approved product for treating peripheral vascular artery bleeding[35]. - The innovative nuclear medicine product TLX591–CDx for prostate cancer has completed patient enrollment in a Phase III clinical study in China[56]. - The innovative medical device HeartLight X3 laser ablation platform has submitted a market application in China[56]. - The company has successfully launched 16 products, including the first generic versions of Irbesartan tablets and Gabapentin dispersible tablets in China[59]. Acquisitions and Strategic Expansion - The company is focusing on strategic acquisitions, including Tianjin Tianbian and Chongqing Duoputai Medical Technology, to expand its product offerings in chronic disease management[24]. - The company signed an equity investment agreement to acquire 90% of Chongqing Duoputai Pharmaceutical Technology Co., Ltd. for approximately RMB 631.8 million, enhancing its market position in cardiovascular disease treatment[35]. - The company completed the acquisition of 87.5% of BlackSwan Vascular, Inc., enhancing its position in the oncology intervention sector[60]. - The group plans to acquire 75.35% equity in Tianjin Tanabe Pharmaceutical for approximately HKD 400 million (approximately RMB 367.7 million), aiming to integrate resources and expand market reach in chronic disease management[169]. - The group has signed agreements to acquire 90% equity in Chongqing Duoputai Pharmaceutical Technology for approximately RMB 631.8 million, further enriching its product pipeline in cardiovascular disease treatment[170]. Financial Position and Investments - Total assets increased to HKD 22,515,326 in 2023 from HKD 22,371,061 in 2022, reflecting a growth of 0.6%[51]. - Total liabilities decreased to HKD 7,244,810 in 2023 from HKD 8,162,401 in 2022, a reduction of 11.2%[51]. - The group invested approximately HKD 1,441,000,000 in research and development and project initiatives during the reporting period[152]. - The group's distribution costs and administrative expenses were approximately HKD 2,567,630,000 and HKD 1,234,380,000, respectively, showing increases due to higher revenue and ongoing R&D investments[150]. - The group has capital commitments of approximately HKD 1,246,600,000 as of December 31, 2023, compared to HKD 140,490,000 in the previous year[193]. Market Position and Competitive Advantage - The company has over 90 products listed in the National Essential Medicines List (2018 edition) and more than 200 products in the National Medical Insurance Drug List (2022 edition)[63]. - The company has a strong market position in the ENT sector, with a diverse product pipeline covering various diseases and treatment categories[65]. - The company’s products are included in multiple authoritative clinical guidelines, ensuring their relevance and clinical efficacy in treating cardiovascular diseases[101][102]. - The group has established long-term relationships with suppliers, ensuring compliance with quality and ethical standards[190]. Corporate Governance and Sustainability - The group is committed to enhancing corporate governance and investor relations, receiving multiple awards for its investor engagement and communication strategies throughout 2023[172]. - The group is committed to environmental sustainability and aims to reduce its environmental impact through various initiatives[188]. - The group has a balanced board structure with four executive directors and three independent non-executive directors, ensuring effective governance[199]. - The company has established a diversity policy for its board and senior management to support strategic goals and sustainable development[200].

Financial Performance - Revenue for the year ended December 31, 2023, was approximately HKD 10,529,590,000, a year-on-year increase of 10.1%, or 15.8% excluding the impact of RMB-HKD exchange rate fluctuations[2] - Gross profit for the year ended December 31, 2023, was approximately HKD 6,524,070,000, a year-on-year increase of 9.6%, or 15.3% excluding the impact of RMB-HKD exchange rate fluctuations[2] - Normalized profit attributable to owners of the company for the year ended December 31, 2023, was approximately HKD 2,036,240,000, a year-on-year decrease of 4.7%, or an increase of 0.2% excluding the impact of RMB-HKD exchange rate fluctuations[2] - Revenue for 2023 increased to HKD 10,529,590 thousand, up from HKD 9,562,285 thousand in 2022, representing a growth of approximately 10.1%[125] - Gross profit for 2023 rose to HKD 6,524,066 thousand, compared to HKD 5,951,479 thousand in 2022, an increase of about 9.6%[125] - Net profit for 2023 was HKD 1,895,442 thousand, down from HKD 2,098,251 thousand in 2022, a decrease of approximately 9.7%[125] - Total comprehensive income for 2023 was HKD 1,629,048 thousand, up from HKD 1,207,795 thousand in 2022, an increase of about 34.9%[126] - Basic and diluted earnings per share for 2023 were HKD 53.60 cents, down from HKD 58.70 cents in 2022, a decrease of approximately 8.7%[126] - Revenue from pharmaceutical technology products in 2023 was HKD 6,813,239 thousand, an 11.3% increase from HKD 6,120,145 thousand in 2022[138] - Revenue from biotechnology products in 2023 was HKD 3,380,958 thousand, a 6.9% increase from HKD 3,163,702 thousand in 2022[138] - Revenue from nuclear medicine and precision intervention products in 2023 was HKD 335,393 thousand, a 20.5% increase from HKD 278,438 thousand in 2022[138] - R&D expenses in 2023 were HKD 571,985 thousand, a 7.5% increase from HKD 531,924 thousand in 2022[141] - Marketing and promotional expenses in 2023 were HKD 567,201 thousand, a 13.7% increase from HKD 498,692 thousand in 2022[141] Dividends and Shareholder Returns - The company recommended a final dividend of 26 HK cents per share for 2023, totaling approximately HKD 905,140,000[2] - The proposed final dividend per share for 2023 is HKD 0.26, compared to HKD 0.14 in 2022, with total dividends payable to shareholders amounting to HKD 905,141 thousand[142] - The final dividend will be paid on or around June 27, 2024, to shareholders on the register as of June 11, 2024[120] R&D and Innovation - The company invested approximately HKD 1.441 billion in R&D, including capitalized R&D expenditures, prepayments for new projects, and other investments[2] - The company achieved 30 product approvals and completed 3 major acquisitions in 2023[4] - The company has 138 R&D projects, including 46 innovative projects, and achieved 77 major milestones in 2023[5] - 5 innovative products were launched in 2023, with 5 products entering the New Drug Application (NDA) stage and 8 products entering clinical trials[5] - The company's TLX591-CDx for prostate cancer diagnosis is in Phase III clinical trials in China and has become a new clinical diagnostic standard overseas[5] - The company's mRNA therapeutic vaccine ARC01 is the first mRNA tumor vaccine for HPV-positive related tumors to receive IND approval in China[5] - The company completed 77 significant milestones in 2023, including 42 innovative products, 16 generic products, 9 functional foods, 4 international certifications for raw material products, 3 major acquisitions, and 2 major construction projects[11] - The company's innovative nuclear medicine product TLX591-CDx for prostate cancer diagnosis completed the first patient enrollment in its Phase III clinical trial in China[12] - The company's innovative nuclear medicine product TLX250-CDx for clear cell renal cell carcinoma (ccRCC) diagnosis completed Phase I clinical trials in China and entered confirmatory clinical studies[12] - The company's innovative nuclear medicine product TLX101 for glioblastoma treatment was approved for Phase I clinical trials in China[12] - The company's innovative nuclear medicine product ITM-11 for gastroenteropancreatic neuroendocrine tumors (GEP-NETs) treatment was approved for Phase I clinical trials in China[12] - The company's innovative liquid embolic agent LavaTM for treating peripheral vascular arterial hemorrhage received FDA approval and achieved commercialization[12] - The company's innovative medical device HeartLight X3 laser ablation platform for atrial fibrillation treatment completed the first特许准入 case in China at Ruijin Hainan Hospital[13] - The company's innovative medical imaging device NOVASIGHT Hybrid for intravascular diagnosis was approved for market launch in China[13] - The company's neurointerventional product GPN00493, an adjustable thrombectomy stent, successfully reached clinical endpoints and submitted a market application to the Chinese National Medical Products Administration[13] - Two innovative combination drugs for asthma treatment, Enzhu Run® Bisihail® and Enming Run® Bisihail®, successfully entered the 2022 National Medical Insurance Directory[14] - The innovative product Ryaltris® (GSP 301 NS) for allergic rhinitis completed Phase III clinical trials in China and submitted a marketing application to the regulatory authority[14] - The global innovative drug STC3141 completed Phase Ib clinical trials for sepsis treatment in Australia and Belgium, and initiated Phase II clinical trials in China[14] - 16 generic products were approved for market, including the first generic versions of Eplerenone Tablets and Carglumic Acid Dispersible Tablets in China[17] - 9 functional food products were launched in China[18] - The company's mRNA platform has completed the construction of mRNA production technology and LNP delivery technology, with ARC01 (A002) being China's first mRNA therapeutic tumor vaccine for HPV-positive related tumors to enter clinical trials[48] - The company's R&D pipeline includes projects like GPN00136 (BRM421), GPN00153 (CBT-001), and Ryaltris, targeting various therapeutic areas such as ophthalmology, respiratory, and cardiovascular diseases[84] - The company obtained drug registration certificates for 10 generic drugs, including Eplerenone Tablets and Carglumic Acid Dispersible Tablets, which are the first generic products in China[88] - The company added 17 core patents and 75 peripheral patents, with a total of 722 valid patents, including 412 invention patents[90] - The company's mRNA technology platform added 10 patent applications and 1 PCT application[90] Acquisitions and Investments - The company completed the acquisition of 87.5% equity in BlackSwan Vascular, Inc., strengthening its presence in the oncology intervention field[18] - Two major acquisitions in the cardiovascular field: 75.35% equity in Tianjin Tianbian Pharmaceutical Co., Ltd. and 90% equity in Chongqing Duputai Pharmaceutical Technology Co., Ltd.[18] - The company acquired 87.5% equity of BlackSwan for up to $37.5 million, gaining global rights to LavaTM and KonaTM products[94] - The company acquired 75.35% equity of Tianjin Tanabe for approximately HKD 400 million (RMB 3.677 billion) to expand its chronic disease market[95] - The company acquired 90% equity of Chongqing Duputai Pharmaceutical Technology for approximately RMB 631.8 million to strengthen its cardiovascular disease treatment portfolio[96] - The company acquired an 87.5% equity stake in BlackSwan Vascular, Inc. for a total consideration of approximately USD 32,537,000 (HKD 255,417,000), including a base cash consideration of USD 22,607,000 (HKD 177,464,000)[153] - The identifiable net assets acquired from BlackSwan include intangible assets of HKD 317,918 thousand and property, plant, and equipment of HKD 578 thousand[154] Nuclear Medicine and Oncology - The company achieved a nearly 300% year-on-year revenue growth in the nuclear medicine anti-tumor sector, with its core product Yttrium-90 microspheres being used in over 40 hospitals across 17 provinces and included in 36 provincial health insurance programs[6] - The company's flagship product, Y-90 microsphere injection, has been used by over 150,000 patients in more than 50 countries and regions[51] - Y-90 microsphere injection achieved an objective response rate of 60% in patients with liver malignancies who were followed up for 3 months or more[52] - The company has trained over 1,000 doctors from 70 hospitals on Y-90 microsphere injection procedures, with 38 physicians qualified for independent operations[53] - Y-90 microsphere injection is covered by 36惠民保 (Hui Min Bao) programs and 1特药险 (special drug insurance) across 20 provinces and 27 cities in China[53] - The company is constructing a Class A radionuclide production platform to strengthen its nuclear medicine anti-tumor diagnosis and treatment sector[50] - The company has established 7 surgical, treatment, and training centers for Y-90 microsphere injection in China[52] - The company's nuclear medicine anti-tumor diagnosis and treatment segment has over 320 global sales personnel, covering more than 50 countries and regions[91] Cardiovascular and Precision Intervention - The company's drug-coated balloons RESTORE DEB® and APERTO® OTW, utilizing the proprietary SAFEPAX technology, have gained significant market recognition and clinical acceptance since their launch[60] - The Novasight Hybrid System, a dual-modality intravascular imaging device, was approved in China in May 2023, offering both ultrasound and optical imaging capabilities for precise coronary interventions[60] - RESTORE DEB® is the first drug-coated balloon in China with dual indications for primary coronary lesions and in-stent restenosis, supported by clinical studies published in JACC Cardiovascular Interventions[61] - APERTO® OTW, the first drug-coated balloon for dialysis patients with arteriovenous fistula stenosis, shows superior target lesion patency rates at six months post-procedure compared to standard high-pressure balloons[62] - The Novasight system, combining IVUS and OCT imaging, is the first FDA-approved dual-modality intravascular imaging system, with applications in coronary imaging and endovascular interventions[62] - The company's self-developed intracranial balloon catheter, Caique®, is the first OTW-designed catheter in China for treating symptomatic intracranial atherosclerotic stenosis[62] - The Pelican® occlusion balloon catheter, part of the company's neurovascular intervention portfolio, is designed for temporary vascular occlusion and selective blood flow control[63] - The company's LEGFLOW® OTW, a drug-coated balloon for peripheral artery stenosis, completed patient enrollment for its registration clinical trial and is expected to submit a market application in China by the first half of 2024[65] - The IVL CAD/IAL PAD system, a next-generation vascular calcification treatment using shockwave lithotripsy integrated with balloon angioplasty, is currently in preclinical development[65] - LONG, a neurothrombectomy stent for ischemic stroke, extends the treatment window from 6 hours to 24 hours, with the product currently under regulatory review[66] - aXess, an endogenous tissue repair product for ESRD patients, is in the preclinical development stage and aims to reduce thrombosis and complications in dialysis patients[66] - Saturn, a mitral valve replacement system, is in the preclinical development stage and combines annuloplasty with valve replacement technology[66] - CoRISMA, a fully implantable ventricular assist device for end-stage heart failure, is being co-developed with a Yale University-incubated medical device company[67] - HeartLight X3, a laser ablation platform for atrial fibrillation, received FDA approval in May 2020 and completed its first case in China in February 2023[68] Legal and Regulatory Issues - The company was fined RMB 136 million (3% of 2019 domestic sales) and confiscated RMB 149 million in illegal gains for antitrust violations related to the sale of certain pharmaceutical raw materials[100] - The company paid approximately RMB 39,216,705 in compensation and legal fees related to product quality lawsuits involving its subsidiary, Tianjin Jingming[98] - The company recovered RMB 10,000,000 and interest from a jointly managed bank account following a court judgment[99] - The company's subsidiary, Tianjin Jingming, is involved in ongoing litigation, with 74 cases adjudicated and one still under review as of December 31, 2023[98] - The company's subsidiary, Tianjin Jingming, has recovered RMB 7,270,000 through court-enforced asset recovery from its former shareholders[98] - The company's antitrust penalties accounted for approximately 3.0% of its latest fiscal year's audited revenue and 16.82% of attributable profit, with no significant adverse impact expected[100] Financial Position and Liquidity - The company's current assets as of December 31, 2023, were HKD 7,016,150,000, compared to HKD 6,886,920,000 in the previous year, with a current ratio of 1.22, up from 1.07 in 2022[102] - Cash and bank balances as of December 31, 2023, were HKD 1,339,710,000, with 94.9% denominated in RMB and 5.1% in HKD, USD, AUD, and EUR[102] - Outstanding bank loans as of December 31, 2023, amounted to approximately HKD 3,284,520,000, a decrease from HKD 3,741,380,000 in 2022[103] - The debt-to-equity ratio (bank borrowings as a percentage of shareholders' equity) was approximately 21.5% as of December 31, 2023[103] - Capital commitments as of December 31, 2023, totaled approximately HKD 1,246,600,000, a significant increase from HKD 140,490,000 in 2022[106] - The company's operating lease commitments as of December 31, 2023, were approximately HKD 377,000, down from HKD 650,000 in 2022[106] - The company's financial resources are primarily in RMB and HKD, minimizing exposure to foreign exchange risk[103] - The company has not adopted any foreign exchange agreements, interest rate swaps, currency swaps, or other financial derivatives for hedging purposes[104] - The company's share incentive plan limits the cumulative number of shares awarded to no more than 5% of the issued shares at the time of the plan's adoption[109] - Non-current assets increased slightly from HKD 15,484,141 thousand in 2022 to HKD 15,499,181 thousand in 2023, with notable increases in intangible assets from HKD 1,397,992 thousand to HKD 1,656,879 thousand[127] - Current assets rose from HKD 6,886,920 thousand in 2022 to HKD 7,016,145 thousand in 2023, driven by increases in trade receivables and other receivables from HKD 2,997,384 thousand to HKD 3,068,059 thousand[127] - Net current assets significantly improved from HKD 432,319 thousand in 2022 to HKD 1,284,708 thousand in 2023, reflecting better liquidity management[127] - Total assets minus current liabilities increased from HKD 15,916,460 thousand in 2022 to HKD 16,783,889 thousand in 2023, indicating overall growth in the company's asset base[127] - Non-current liabilities decreased from HKD 1,707,800 thousand in 2022 to HKD 1,513,373 thousand in 2023, primarily due to reductions in bank borrowings and other loans[127] - Equity attributable to owners of the company increased from HKD 14,140,338 thousand in 2022 to HKD 15,157,718 thousand in 2023, reflecting growth in shareholder value[128] - Non-controlling interests rose from HKD 68,322 thousand in 2022 to HKD 112,798 thousand in 2023, indicating increased minority stakes in subsidiaries[128] Human Resources and Organizational Structure - The company employed approximately 10,534 staff and workers in Hong Kong and mainland China as of December 31, 2023, up from 10,175 in 2022[111] - The company's share incentive plan has a trust fund of approximately HKD 278,560,000, with HKD 268,730,000 used to purchase 47,761,500 shares, representing about 1.35% of the issued shares[109] - The company has over 3,900 sales personnel, covering nearly 70,000 hospitals and primary medical institutions in China, including 13,000 tiered hospitals[91] - The company's OTC sales team exceeds 1,000 personnel, covering over 250,000 pharmacies[91] - The company's R&D team, including joint ventures, comprises over 700 personnel, with nearly 450 holding master's or doctoral degrees, accounting for over 60% of the team[87] - The company has established multiple R&D centers globally, including the Wuhan Optics Valley International R&D Center in China, focusing on high-end pharmaceutical product development[86] - The mRNA technology platform in Nanjing, China, is dedicated to the development of anti-tumor and anti-infective mRNA drugs, with plans to expand into rare diseases and protein replacement therapies[86] - The oncology intervention technology platform and RDC technology platform are located in the Boston R&D Center in the US and the Shandong University Radiopharmaceutical Research Institute in China, respectively[86] - The company's high-end medical device R&D technology platform includes centers in Wuhan, Changzhou, and Shanghai, focusing on precision cardiovascular interventions[86] Awards and Recognition - The company received multiple awards in 2023, including the