Financial Performance - For the fiscal year ending December 31, 2024, the company reported a loss attributable to shareholders of HKD 126.6 million, a decrease of HKD 143.9 million compared to a profit of HKD 17.3 million in 2023[3] - The group reported revenue of HKD 5,522.7 million for 2024, an increase of 3.8% compared to HKD 5,322.7 million in 2023[26] - The group incurred a net loss of HKD 126.6 million in 2024, compared to a profit of HKD 17.3 million in 2023, representing a significant decline[26] - The company reported a total comprehensive income of HKD 109,154,000 for the year, compared to a loss of HKD 677,705,000 in the previous year[34] - The annual loss for the year was HKD 126,554,000, reflecting a significant improvement from the previous year's losses[34] - The company reported a net loss of HKD 126,554,000 for 2024, compared to a profit of HKD 17,250,000 in 2023[56] Research and Development - Research and development expenditure increased from HKD 145.9 million in 2023 to HKD 254.1 million in 2024, representing an annual increase of HKD 18.2 million[5] - The company's therapeutic cancer vaccine, seviprotimut-L, is currently in the final research phase, undergoing trials as an adjuvant therapy for melanoma patients post-surgery[7] - The company plans to accelerate the development of Halneuron® for pain relief, with a Phase II B clinical trial expected to commence in Q1 2025[6] - The company is strategically investing in liquid biopsy testing projects to provide non-invasive and cost-effective cancer detection solutions[8] - Clinical trial and laboratory expenses rose significantly to HKD 160,811,000, up 59.43% from HKD 100,878,000 in 2023[53] Revenue and Profitability by Segment - The agricultural segment's basic profit contribution was HKD 329.3 million, up 4% from 2023, while including fair value changes, profit decreased by 13% year-on-year[12] - The health products business recorded a profit growth of 3% to HKD 292.5 million compared to 2023, despite inflation and economic instability[10] - The health products business generated revenue of HKD 3,451,588,000, up 6.43% from HKD 3,242,902,000 in 2023[49] Assets and Liabilities - Total assets as of December 31, 2024, were approximately HKD 10,788.6 million, with net assets amounting to HKD 3,511.5 million, equivalent to HKD 0.37 per share[18][32] - The group’s bank borrowings totaled HKD 5,474.9 million as of December 31, 2024, with interest expenses amounting to HKD 310.3 million for the year[18] - The net debt to total equity ratio was approximately 58.36% as of December 31, 2024, indicating a significant leverage position[18] - The company’s total assets were reported at HKD 3,511,548,000 as of December 31, 2024, indicating a strategic focus on asset management[34] Employee and Operational Metrics - The total number of full-time employees increased to 2,033 in 2024, up from 1,932 in 2023, with total employee costs rising by 9.5% to HKD 1,237.6 million[23] - Employee costs totaled HKD 1,237.6 million, an increase of 9.46% from HKD 1,130.4 million in 2023[52] Corporate Governance and Compliance - The company adheres to high standards of corporate governance and has implemented various policies to ensure accountability and transparency[68] - The audit committee reviewed the annual performance for the fiscal year ending December 31, 2024, which was audited by Deloitte[69] - The company has adopted new accounting standards with no significant impact on the financial statements for the current and previous periods[38][41] - The company is currently evaluating the impact of upcoming accounting standards on its financial reporting[47] Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.008 per share, totaling HKD 76,889,000[34] - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with 2023[57] Market and Regional Performance - Revenue for the Asia-Pacific region in 2024 was HKD 2,813,144, a decrease of 0.8% from HKD 2,836,964 in 2023[64] - North America revenue increased by 9.0% to HKD 2,708,189 in 2024 from HKD 2,484,602 in 2023[64] - Non-current assets in the Asia-Pacific region decreased to HKD 4,359,585 in 2024 from HKD 4,968,452 in 2023, a decline of 12.3%[64] - Non-current assets in North America increased slightly to HKD 3,217,387 in 2024 from HKD 3,185,542 in 2023, an increase of 1.0%[64] Strategic Initiatives - The Australian Agribusiness implemented cost-cutting measures and product adjustments to mitigate the impact of material price fluctuations and high market inventory[14] - Vitaquest achieved progress in acquiring new customers and expanding production capacity, enhancing production efficiency through better supplier selection[10] - The group has not engaged in any major acquisitions or disposals during the year[20] - The group’s capital commitments totaled HKD 64.4 million as of December 31, 2024, primarily for machinery and vineyard maintenance[22] - The group conducted scenario analysis to assess risks and opportunities related to climate change, enhancing transparency and risk mitigation strategies[15] Upcoming Events - The annual general meeting for the fiscal year 2025 is scheduled for May 22, 2025[74]

Financial Performance - For the six months ended June 30, 2024, CK Life Sciences reported a profit attributable to shareholders of approximately HKD 1 million, a decrease of 97% compared to HKD 35.9 million in the same period last year[8]. - The company's pre-tax profit, before deducting financial costs, was HKD 174.5 million, largely offset by financial costs of HKD 169.5 million[8]. - The company announced no interim dividend for the year 2024, consistent with 2023[8]. - The health products segment reported a profit of HKD 156.4 million, slightly up from HKD 155 million last year, despite ongoing cost pressures from inflation[15]. - Agricultural-related business profits decreased to HKD 134 million from HKD 159 million last year, impacted by high inventory and a one-time gain from water rights sale last year[16]. - The company reported a significant increase in revenue, achieving a total of $X million for the quarter, representing a Y% growth year-over-year[26]. - The company reported a decrease in operational costs by J%, improving overall profitability[26]. - The profit before tax for the six months ended June 30, 2024, was HKD 4.99 million, a significant decrease of 91.2% from HKD 56.9 million in the prior year[37]. - The net profit for the period was HKD 1.0 million, down 97.3% from HKD 36.9 million in the same period of 2023[40]. - Revenue for the six months ended June 30, 2024, was HKD 2,635.9 million, a slight increase of 2.2% from HKD 2,579.1 million in the same period of 2023[37]. Research and Development - CK Life Sciences is focused on research and development of breakthrough cancer therapies and early cancer detection solutions[10]. - The therapeutic cancer vaccine, seviprotimut-L, is in the final research phase and aims to serve as an effective adjuvant therapy for melanoma patients post-surgery[11]. - The company is expanding its therapeutic cancer vaccine research projects, with promising preclinical results presented at the AACR annual meeting in April, focusing on KRAS and PD-L1[12]. - Halneuron® has received FDA and Health Canada approval for Phase III clinical trials targeting chemotherapy-induced neuropathic pain (CINP), with ongoing Phase IIB trials in South Korea, Canada, and the US[13]. - The company is strategically investing in Pharus, Inc. to develop innovative, non-invasive liquid biopsy tests for early detection of pancreatic and lung cancers[14]. - The company plans to increase investment in research and development, particularly for the third phase of the Polynoma clinical trial, despite rising financial costs[18]. - Research and development expenditures for the period amounted to approximately HKD 72.9 million[34]. Assets and Liabilities - As of June 30, 2024, the group's total assets amounted to approximately HKD 10,888.5 million, including bank deposits and fixed deposits of about HKD 549.2 million[31]. - The group's total liabilities were HKD 6,874.5 million, with bank borrowings of HKD 5,470.0 million primarily used for acquiring overseas businesses and providing general working capital[31]. - The net debt to total equity ratio was approximately 55.07% as of June 30, 2024[31]. - The group's total capital commitments as of June 30, 2024, were HKD 85.4 million, mainly for the purchase of machinery and equipment, and vineyard maintenance[34]. - The total interest expense on bank borrowings for the six months ended June 30, 2024, was HKD 158.7 million[31]. - Current liabilities increased to HKD 2,877.2 million from HKD 2,100.6 million, reflecting a 37% rise[41]. - The total equity as of June 30, 2024, was HKD 4,014.0 million, down from HKD 4,189.3 million at the end of 2023[42]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adhered to all relevant codes and best practices[73]. - The company has implemented various governance policies, including anti-fraud and anti-bribery policies, to ensure accountability and transparency[73]. - The company emphasizes the importance of a high-quality board and robust internal controls as part of its governance framework[73]. - The board consists of ten members, including five executive directors, ensuring over one-third are independent non-executive directors as of June 30, 2024[74]. - The audit committee, composed entirely of independent non-executive directors, reviewed the interim report for the six months ending June 30, 2024[78]. - The company has established an internal audit mechanism to continuously assess risk management and internal control systems, focusing on high-risk business activities[77]. - The remuneration committee, primarily composed of independent non-executive directors, is responsible for recommending compensation policies for all directors and senior management[79]. - The nomination committee evaluates the board's structure and diversity, ensuring independent non-executive directors' independence and proposing appointments[80]. Market and Economic Conditions - The global economy is experiencing a slowdown, with trade protectionism, currency fluctuations, and high inflation contributing to uncertainty[83]. - Labor market changes are causing high employee turnover rates, complicating recruitment and training efforts[84]. - Supply chain disruptions are affecting raw material supply and transportation, leading to increased costs and delivery unpredictability[85]. - The company faces intense competition and rapid technological advancements in its operational markets, which may negatively impact its business and financial performance[86]. - The group faces significant risks from industry trends, including high inflation and interest rates, which may adversely affect its business and financial condition[90]. - Financial costs are expected to increase due to high interest rates, impacting the group's financial situation[90]. - The ongoing effects of the COVID-19 pandemic may still impact the group's business and operational performance, depending on various factors including the severity and duration of any future outbreaks[106]. Risks and Challenges - The company must comply with extensive government regulations regarding product development and safety, which can be lengthy and costly[88]. - The success of the company is partly dependent on obtaining and enforcing patent rights, which may face challenges from third parties[89]. - Currency fluctuations may affect the group's financial condition and potential income, as subsidiaries may operate in different currencies[93]. - The group may face challenges in renewing or refinancing bank loans, which could impact liquidity[91]. - Climate change poses risks to the group's assets and operations, affecting product demand, supply, quality, and prices, particularly in agriculture-related sectors[103]. - The group operates in regions prone to natural disasters, which could significantly disrupt operations and adversely affect financial performance[105].

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文件的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件全 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。 (於開曼群島註冊成立之有限公司) (股份代號：0775) 二零二四年中期業績 二零二四年中期業績 截至二零二四年六月三十日止六個月，長江生命科技集團有限公司（「長江生命 科技」或「公司」）錄得未經審核股東應佔溢利約港幣一百萬元，較去年同期下 跌百分之九十七（港幣三千五百九十萬元）。然而，未扣除財務成本之稅前溢利 實為港幣一億七千四百五十萬元，惟當中大部分被港幣一億六千九百五十萬元之 財務成本所抵銷。 董事會宣佈不派發二零二四年度中期股息（二零二三年：無）。 結算日後事項 長江生命科技於結算日後公佈，出售位於澳洲新南威爾士省瑞福利納（Riverina） 地區的 Balranald 葡萄園土地及用水許可證。瑞福利納地區屬內陸葡萄酒產區， 由於葡萄出口下降，當中尤以出口至中國為甚，導致葡萄供應過剩，業務因而受 影響。交易完成後，本公司預期將錄得約八百二十萬澳元（相等於約 港幣四千二百三十萬元）之出售收益。 醫 ...

Financial Performance - For the year ended December 31, 2023, the company recorded a profit attributable to shareholders of HKD 17.3 million, a decrease of 87% compared to HKD 132 million in 2022[5]. - The decline in profit was primarily due to increased financial costs of HKD 159.3 million, which far exceeded the pre-tax profit growth of HKD 23.1 million[5]. - The board of directors does not recommend a final dividend for the year ended December 31, 2023, compared to HKD 0.008 per share in 2022[5]. - The annual profit for 2023 was HKD 17,250, a significant decrease of 87.0% from HKD 131,952 in 2022[106]. - The company's basic earnings per share dropped to 0.18 cents in 2023 from 1.37 cents in 2022, reflecting the decline in profitability[105]. - The financial expenses increased significantly to HKD 322,425 in 2023 from HKD 163,092 in 2022, indicating higher borrowing costs[105]. - The company's profit before tax was HKD 68.6 million, down from HKD 204.9 million in the previous year, indicating a significant decline in profitability[145]. - The company reported a net profit margin of K%, reflecting improved operational efficiencies and cost management strategies[68]. Revenue and Growth - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[60]. - The company's revenue for the year ended December 31, 2023, was HKD 5,322,733, an increase of 0.9% compared to HKD 5,275,590 in 2022[105]. - Revenue from the agriculture-related business decreased to HKD 1,913,356,000 in 2023 from HKD 2,005,001,000 in 2022, a decline of about 4.6%[140]. - Revenue from the human health business increased to HKD 3,242,902,000 in 2023, up from HKD 3,097,090,000 in 2022, reflecting a growth of approximately 4.7%[140]. - The company provided guidance for the next quarter, projecting revenue between $A million and $B million, indicating a growth rate of C%[62]. - New product launches are expected to contribute an additional $D million in revenue, with anticipated market expansion into E regions[63]. Research and Development - The company is focusing on the research and development of breakthrough cancer therapies and early cancer detection solutions, leveraging innovative technology[6]. - The therapeutic cancer vaccine, seviprotimut-L, is in the final research phase and aims to provide effective adjuvant therapy for melanoma patients post-surgery[7]. - The company is actively developing Halneuron® for pain relief in cancer patients, with the second phase B clinical trial ongoing in South Korea and the US[8]. - The company is investing strategically in liquid biopsy diagnostic projects to provide non-invasive and cost-effective cancer detection solutions[9]. - The company plans to initiate the third phase clinical trial for Halneuron® at an appropriate time, prioritizing funding across various research projects[8]. - The company is advancing in the field of therapeutic cancer vaccines and is focused on developing new pain relief products and early cancer detection diagnostics[31]. - The ongoing development of various cancer vaccines targets multiple tumor antigens and immune checkpoint proteins[36]. - The company is also conducting internal research on cancer diagnostics for melanoma and prostate cancer[40]. Operational Efficiency and Cost Management - The company is focusing on internal growth by enhancing operational efficiency and expanding product lines to increase market penetration[52]. - The company aims to improve operational efficiency, targeting a reduction in costs by H% over the next fiscal year[60]. - The company has expanded its production facilities to enhance productivity and product offerings, particularly in its Vitaquest division[10]. - The company is investing in replanting and irrigation optimization to enhance the quality of its vineyard assets[14]. - The company continues to implement measures to identify and manage climate-related risks and opportunities across its supply chain[12]. Assets and Liabilities - The total assets of the company as of December 31, 2023, amounted to HKD 11,247.4 million, with cash and bank deposits of approximately HKD 664.3 million[56]. - The company's total equity as of December 31, 2023, was HKD 4,189.3 million, equivalent to HKD 0.44 per share[56]. - The net debt to total equity ratio was approximately 53.18% as of December 31, 2023[56]. - The company maintained a total bank borrowing of HKD 5,422.9 million, with an interest expense of HKD 300.0 million for the year[56]. - The total carrying value of the group's investment properties as of December 31, 2023, is HKD 1,827,660,000, accounting for approximately 16% of the group's total assets[103]. - The total carrying value of property, plant, and equipment is HKD 3,899,837,000, an increase from HKD 3,663,321,000 as of December 31, 2022, representing a growth of approximately 6.5%[150]. Governance and Management - The board of directors includes key figures such as Li Ka-shing and Li Zeju, who play significant roles in the group's strategic direction[86]. - The management team includes professionals with over 25 years of experience in corporate financial management and business development, indicating strong leadership[67]. - The independent non-executive directors have reviewed the related transactions and confirmed their fairness and reasonableness for the fiscal year 2023[92]. - The company emphasizes sustainable development and governance through its various committees, including the sustainability committee[64]. Sustainability Initiatives - The group is committed to aligning its reporting with the TCFD framework, identifying and prioritizing climate-related risks and opportunities[74]. - The group has installed 1,820 solar panels at the Vitaquest headquarters, generating 401,035 kWh of electricity as of September 2023[74]. - The group has implemented energy audits and carbon reduction plans to achieve net-zero emissions[74]. - Sustainability initiatives are being prioritized, with a commitment to reduce carbon emissions by I% by 2025[61]. Shareholder Information - The company reported a total of 2,838,009,715 shares outstanding, with major shareholders holding significant stakes, including 29.52% by Li Ka-shing Foundation[81]. - Gold Rainbow Int'l Limited holds 4,355,634,570 shares, representing 45.31% of the total shares, indicating strong control over the company[83]. - The total number of shares held by major shareholders reflects a concentrated ownership structure, which may impact governance and decision-making[83]. Financial Reporting and Compliance - The financial statements were audited by Deloitte, who expressed an unmodified opinion on the financial statements[98]. - The group is committed to maintaining transparency and compliance with listing rules regarding related party transactions[87]. - The group has confirmed that all related transactions were conducted on normal commercial terms and in the best interest of the company and its shareholders[91].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported a profit attributable to shareholders of HKD 17.3 million, a decrease of 87% compared to HKD 132 million in 2022[2] - The increase in financial costs amounted to HKD 159.3 million, significantly impacting profitability despite a pre-tax profit growth of HKD 23.1 million[2] - The group's total revenue for the year ended December 31, 2023, was HKD 5,322.7 million, a slight increase from HKD 5,275.6 million in 2022, with a cost of sales of HKD 3,685.5 million[16] - The net profit for the year was HKD 17.25 million, a significant decrease from HKD 131.95 million in the previous year, resulting in a basic earnings per share of HKD 0.18 compared to HKD 1.37 in 2022[16] - Total revenue for 2023 was HKD 5,322,733,000, a slight increase from HKD 5,275,590,000 in 2022, representing a growth of 0.89%[33] - The company reported a pre-tax profit of HKD 68,584 for 2023, down from HKD 204,864 in 2022, indicating a decline of 66.54%[42] - Net profit for 2023 was HKD 17,250, a significant decrease from HKD 131,952 in 2022, reflecting a decline of 87.00%[42] Revenue Contributions - The healthcare product business contributed a profit of HKD 283 million, an increase of 8% from the previous year[6] - The agricultural-related business recorded a profit contribution of HKD 350 million, growing by 4% compared to 2022[8] - Revenue from agricultural-related business decreased to HKD 1,913,356,000 in 2023 from HKD 2,005,001,000 in 2022, a decline of 4.6%[33] - Human health business revenue increased to HKD 3,242,902,000 in 2023, up from HKD 3,097,090,000 in 2022, reflecting a growth of 4.7%[33] - Agricultural business revenue for 2023 was HKD 2,078,664, a decrease of 4.55% from HKD 2,177,681 in 2022[42] - Human health business revenue for 2023 was HKD 3,242,902, an increase of 4.69% from HKD 3,097,090 in 2022[42] Assets and Liabilities - The total assets of the group as of December 31, 2023, were approximately HKD 11,247.4 million, with total liabilities amounting to HKD 5,058.1 million, leading to a net asset value of HKD 4,189.3 million[11] - The group maintained a net debt to total equity ratio of approximately 53.18% as of December 31, 2023[11] - Non-current liabilities increased significantly to HKD 4,957,596 thousand in 2023 from HKD 3,048,837 thousand in 2022, representing a growth of approximately 62.5%[21] - Total equity for the company stood at HKD 4,189,253 thousand in 2023, slightly up from HKD 4,155,450 thousand in 2022, indicating a marginal increase of about 0.8%[22] - The company's total assets net value was reported at HKD 4,189,253 thousand, showing stability compared to the previous year's figure of HKD 4,155,450 thousand[22] - Deferred tax liabilities decreased slightly from HKD 446,251 thousand in 2022 to HKD 436,381 thousand in 2023, indicating a reduction of about 2.0%[21] - The company’s bank borrowings rose to HKD 4,272,947 thousand in 2023 from HKD 2,374,000 thousand in 2022, representing an increase of approximately 79.9%[21] Research and Development - Research and development expenses for the year were approximately HKD 145.9 million, reflecting the company's commitment to innovation[12] - The company is focusing on the development of therapeutic cancer vaccines, with seviprotimut-L in the final research phase for melanoma patients[4] - The company is actively developing Halneuron® for alleviating cancer-related pain, with Phase II B clinical trials ongoing in South Korea and the United States[4] - The company is investing strategically in liquid biopsy diagnostic research to provide non-invasive and cost-effective cancer detection solutions[5] - The company plans to initiate the third phase of clinical trials for Halneuron® at an appropriate time, prioritizing funding based on various research projects[4] Employee and Operational Costs - The total number of full-time employees increased to 1,932 as of December 31, 2023, with total employee costs, including director remuneration, amounting to HKD 1,130.4 million, a 9.2% increase from the previous year[14] - Employee costs for 2023 totaled HKD 1,130.4 million, an increase of 9.1% from HKD 1,035.6 million in 2022[35] - Other expenses in 2023 amounted to HKD 100,878,000 for clinical trials and laboratory costs, a decrease of 5.2% from HKD 106,729,000 in 2022[36] Financial Outlook and Governance - The company is optimistic about future profitability, anticipating benefits from potential interest rate reductions, although increased R&D spending may impact costs[10] - The board of directors did not recommend a final dividend for the year ending December 31, 2023, compared to a dividend of HKD 0.008 per share totaling HKD 76,889,000 in 2022[39] - The company did not engage in any significant purchases, sales, or redemptions of its listed securities during the year[45] - The annual general meeting for 2024 is scheduled for May 23, 2024[50]

Financial Performance - For the six months ended June 30, 2023, CK Life Sciences reported a profit attributable to shareholders of approximately HKD 370 million, a decrease of 43% compared to the same period last year[11]. - The overall profit in the first half of 2023 was significantly pressured by high financial costs due to interest rate hikes, with a 171% increase in financial costs compared to the previous year[11]. - The average annualized interest rate for the first half of 2023 was 4.8%, compared to 1.4% in 2022; if calculated at the 2022 rate, the profit for the first half of 2023 would have increased by approximately 97% year-on-year[11]. - The company announced no interim dividend for 2023, consistent with 2022[11]. - The company reported a significant increase in revenue for the first half of 2023, achieving a total of $500 million, representing a 15% year-over-year growth[29]. - The company provided guidance for the next quarter, projecting a revenue increase of 10% to $550 million[29]. - The company reported a net profit of HKD 36,912 for the six months ended June 30, 2023, down 43.4% from HKD 65,118 in the prior year[40]. - Basic and diluted earnings per share decreased to 0.38 cents from 0.68 cents year-over-year[39]. - Total comprehensive income for the period was HKD 87,257, compared to a loss of HKD 107,182 in the same period last year[40]. - The company reported a net cash generated from operating activities for the six months ended June 30, 2023, was HKD 80,497 thousand, a decrease from HKD 214,018 thousand in the same period of 2022[46]. Business Segments - The agricultural and health product businesses recorded a profit increase of 22% compared to the same period last year, but this was fully offset by rising financial costs[11]. - The health products business saw a 14% increase in profit compared to the same period last year, with improved labor and supply chain conditions[17]. - The agricultural business reported a 32% increase in profit year-over-year, despite challenges such as inventory backlog and fluctuating raw material prices[18]. - The vineyard business maintained stable profits and cash flow due to long-term leases with reputable wineries, contributing to overall profit growth[19]. - The company’s agricultural-related business generated revenue of HKD 158,911 thousand for the six months ended June 30, 2023, compared to HKD 120,676 thousand in the same period of 2022, representing an increase of approximately 31.7%[51]. - The company’s human health business revenue was HKD 154,970 thousand for the six months ended June 30, 2023, up from HKD 136,440 thousand in the same period of 2022, indicating a growth of approximately 13.6%[51]. Research and Development - CK Life Sciences focuses its research on pharmaceuticals and molecular diagnostics, with an emphasis on cancer vaccines and pain relief products[12]. - The advanced cancer vaccine, seviprotimut-L, is being developed by the U.S. subsidiary Polynoma LLC for melanoma patients and has received FDA approval for clinical trials[13]. - The company aims to commence clinical research for seviprotimut-L as soon as feasible under the special protocol assessment agreement with the FDA[13]. - The company is developing multiple cancer vaccine projects in the discovery and preclinical research stages, planning to advance to clinical trials in the coming years[14]. - WEX Pharmaceuticals Inc. is developing Halneuron®, a pain relief drug based on tetrodotoxin, with FDA and Health Canada approval for a Phase III clinical trial targeting chemotherapy-induced neuropathic pain[15]. - The company invested approximately HKD 70.9 million in research and development activities during the period[35]. - The company is investing $100 million in research and development for new technologies aimed at enhancing user experience[29]. Financial Position - As of June 30, 2023, the total assets of the group amounted to approximately HKD 11,049.3 million, including bank deposits and fixed deposits of about HKD 493.4 million[33]. - The total liabilities of the group were HKD 6,881.9 million, with bank borrowings of HKD 5,421.0 million primarily used for acquiring overseas businesses and providing general working capital[33]. - The net debt to total equity ratio was approximately 54.18% as of June 30, 2023[33]. - The group incurred total interest expenses of HKD 130.3 million on bank borrowings for the six months ended June 30, 2023[33]. - Current liabilities decreased to HKD 2,908,036 from HKD 4,062,475 at the end of 2022, indicating improved liquidity[42]. - Total equity increased to HKD 4,167,356 as of June 30, 2023, compared to HKD 4,155,450 at the end of 2022[43]. - The company’s total equity as of June 30, 2023, was HKD 4,167,356 thousand, a decrease from HKD 4,500,844 thousand as of January 1, 2022, reflecting a decline of approximately 7.4%[45]. Governance and Compliance - The company has adopted a comprehensive corporate governance policy, including anti-fraud and anti-bribery measures, to maintain high standards of governance[77]. - The audit committee, led by an independent non-executive director, is responsible for overseeing the financial reporting system and risk management[82]. - The remuneration committee primarily consists of independent non-executive directors and advises on the compensation policies for directors and senior management[83]. - The nomination committee reviews the board's structure and diversity, ensuring independent non-executive directors' independence[84]. - The sustainability committee monitors the management of sustainability initiatives and evaluates related environmental, social, and governance risks[85]. - The company emphasizes transparency and accountability to all shareholders as part of its governance principles[77]. Market and Economic Conditions - The global economy is experiencing significant slowdowns, with potential impacts on business, financial conditions, and operational performance due to trade protectionism, inflation, and geopolitical tensions[88]. - The ongoing effects of COVID-19 continue to impact economies in various regions, despite the easing of restrictions by governments[89]. - Supply chain disruptions are exacerbated by geopolitical tensions, resulting in increased costs and unpredictable delivery times[91]. - Inflation has surged to multi-decade highs, prompting central banks worldwide to raise interest rates, impacting overall demand across various sectors[95]. - The group faces significant risks from industry trends, including market sentiment, consumer spending power, and interest rate cycles, which may adversely affect its business and financial performance[95]. Risks and Challenges - The company faces intense competition and rapid technological advancements in its operational markets, which may adversely affect its business and financial performance[92]. - Cybersecurity risks are increasing due to the rise in global cyberattacks, which could significantly impact the group's operations and reputation[99]. - Economic sanctions affecting business partners, suppliers, or customers could disrupt operations and lead to financial losses for the group[101]. - The group’s assets and operations are at risk from natural disasters such as earthquakes and floods, which could severely disrupt business and financial performance[109]. - Climate change poses risks to the demand, supply, quality, and pricing of agricultural products, potentially affecting the group's business performance[110].

Financial Performance - For the six months ended June 30, 2023, the company recorded an unaudited profit attributable to shareholders of approximately HKD 37 million, a decrease of 43% compared to the same period last year [2]. - The overall profit in the first half of 2023 was significantly pressured by high financial costs due to interest rate hikes, with a 171% increase in financial costs compared to the previous year [3]. - The profit for the period was HKD 36.9 million, down from HKD 65.1 million in the previous year [22]. - The company's profit for the period was HKD 36,912 thousand, down from HKD 65,118 thousand in the previous year, indicating a decline of about 43.3% [33]. - Basic earnings per share for the period were HKD 0.38, compared to HKD 0.68 in the same period last year [22]. - Cash generated from operating activities for the six months ended June 30, 2023, was HKD 80,497 thousand, compared to HKD 214,018 thousand in the same period of 2022, reflecting a decrease of approximately 62.4% [29]. Revenue and Business Segments - Revenue for the six months ended June 30, 2023, was HKD 2,579.1 million, compared to HKD 2,540.6 million for the same period in 2022, reflecting a slight increase [22]. - Total revenue for the six months ended June 30, 2023, was HKD 2,579,128 thousand, a slight increase from HKD 2,540,582 thousand in the same period of 2022, representing a growth of approximately 1.5% [32]. - The healthcare product business saw a profit increase of 14% compared to the same period last year, with improved labor and supply chain conditions [10]. - The agricultural-related business recorded a profit increase of 32% compared to the previous year, supported by stable demand for salt products and effective pricing strategies [12]. - Agricultural-related business revenue for the six months ended June 30, 2023, was HKD 932,967 thousand, down from HKD 967,190 thousand in 2022, a decrease of about 3.5% [32]. - Human health business revenue increased to HKD 1,560,347 thousand in the first half of 2023, compared to HKD 1,482,653 thousand in the same period of 2022, marking a growth of approximately 5.3% [32]. Dividends and Shareholder Returns - The company announced no interim dividend for the 2023 fiscal year, consistent with the previous year [3]. - The company declared a dividend of HKD 0.008 per share for the year-end 2022, totaling HKD 76,889 thousand, compared to HKD 96,111 thousand for the previous year [28]. - The company did not recommend an interim dividend for the six months ended June 30, 2023, compared to no dividend in 2022 [38]. Assets and Liabilities - As of June 30, 2023, the total assets of the group were approximately HKD 11,049.3 million, with cash and bank deposits amounting to HKD 493.4 million [15]. - The total liabilities of the group were HKD 6,881.9 million, including bank borrowings of HKD 5,421.0 million, primarily used for acquiring overseas businesses [15]. - The net debt to total equity ratio was approximately 54.18% as of June 30, 2023 [15]. - The company reported a total equity of HKD 4,167,356 thousand as of June 30, 2023, compared to HKD 4,155,450 thousand at the end of the previous period, showing a slight increase of approximately 0.3% [28]. - The valuation of investment properties increased to HKD 1,831,407 as of June 30, 2023, from HKD 1,817,665 on January 1, 2023, reflecting a growth of 0.8% [39]. - Total property, plant, and equipment amounted to HKD 3,737,920 as of June 30, 2023, up from HKD 3,663,321 at the beginning of the year, indicating an increase of 2.0% [40]. Research and Development - Research and development expenditures for the period amounted to approximately HKD 70.9 million [18]. - The company is focusing on the development of cancer vaccines and pain relief products, with ongoing clinical trials for the cancer vaccine seviprotimut-L and the pain relief drug Halneuron® [5][6]. - The company is investing in Pharus, Inc. to develop innovative early cancer detection solutions, alongside internal research projects targeting melanoma and prostate cancer [8]. - The company is collaborating with Crystal Technology to develop a new AI-driven cancer vaccine research platform [5]. Corporate Governance - The company has adhered to the corporate governance principles outlined in the Hong Kong Stock Exchange's Listing Rules, ensuring compliance with all code provisions and recommended best practices [48]. - The Audit Committee, led by an independent non-executive director, has reviewed the group's interim performance for the six months ended June 30, 2023 [49]. - The Remuneration Committee consists mainly of independent non-executive directors, ensuring a focus on fair compensation practices [50]. - The Nomination Committee is chaired by an independent non-executive director, emphasizing the importance of independent oversight in board appointments [51]. - The Sustainability Committee includes an executive director and an independent non-executive director, highlighting the company's commitment to sustainable practices [52]. - The company maintains high standards of corporate governance and ethical conduct, regularly reviewing its comprehensive corporate governance policies [48]. Employment and Employee Costs - The total number of full-time employees increased to 1,887, up from 1,829 a year earlier, with total employee costs of approximately HKD 546.7 million, a 6% increase year-on-year [20]. - Employee costs for the six months ended June 30, 2023, amounted to HKD 546.7 million, an increase from HKD 515.8 million in 2022, representing a rise of about 6.3% [34].

Financial Performance - For the year ended December 31, 2022, CK Life Sciences reported a profit attributable to shareholders of HKD 132 million, a decrease of 19% compared to 2021[5]. - If calculated using 2021's interest rates and exchange rates, the profit for 2022 would have increased by approximately 41% compared to 2021[5]. - The company's revenue for the year ended December 31, 2022, was HKD 5,275.6 million, a slight decrease from HKD 5,402.3 million in 2021[53]. - The profit attributable to shareholders for 2022 was HKD 131.96 million, down from HKD 162.8 million in 2021, representing a decline of approximately 19%[53]. - Total revenue for the year ended December 31, 2022, was HKD 5,275,590 thousand, a decrease of 2.4% from HKD 5,402,312 thousand in 2021[115]. - The net profit for the year was HKD 131,952 thousand, down 19.0% from HKD 162,801 thousand in the previous year[115]. - Basic earnings per share decreased to 1.37 cents from 1.69 cents, reflecting a decline of 18.9%[115]. - Total comprehensive income for the year was a loss of HKD 249,283 thousand, compared to a loss of HKD 121,504 thousand in 2021[116]. Dividends - The board proposed a final dividend of HKD 0.008 per share for the year ended December 31, 2022, down from HKD 0.01 per share in 2021[5]. - The proposed final dividend for the year ended December 31, 2022, is HKD 0.008 per share, down from HKD 0.01 per share in 2021, totaling HKD 76,889,000 compared to HKD 96,111,000 in 2021[185]. Research and Development - The company's research focuses on two main areas: cancer vaccines and molecular diagnostics, with an emphasis on early cancer detection[6]. - The proprietary multi-valent cancer vaccine, seviprotimut-L, is being developed for melanoma patients and has made progress in the third phase of clinical trials[6]. - CK Life Sciences has initiated multiple cancer vaccine research projects and plans to advance them to clinical trial stages in the coming years[6]. - A strategic research collaboration was established with Crystal Technology, focusing on developing an AI-driven cancer vaccine research platform[6]. - The company is developing a liquid biopsy molecular diagnostic test for early cancer detection, aiming for innovative, cost-effective solutions[8]. - Research and development expenses for 2022 amounted to HKD 158.5 million, reflecting the company's commitment to innovation in cancer diagnostics[56]. Business Segments Performance - Vitaquest's health product business contributed a profit of HKD 262.3 million, an increase of 11% compared to 2021, with a 14% increase when adjusted for foreign exchange rates[8]. - The agricultural business recorded a profit of HKD 336 million, maintaining performance despite challenges from supply chain disruptions and inflation[9]. - The salt business faced profit pressure due to weather-related incidents and labor shortages, but demand for salt products remained steady[9]. - The health product business's performance was bolstered by new product launches and innovative marketing strategies[8]. - The company has invested in Pharus, a subsidiary of Quark Biosciences, to enhance its capabilities in cancer diagnostics[8]. Operational Challenges and Outlook - Future operational performance is expected to improve as market conditions stabilize post-COVID-19, despite ongoing inflation and geopolitical uncertainties[11]. - The company aims to address significant unmet medical needs in pain management with innovative pain relief solutions[7]. - The company is actively seeking investment opportunities globally to enhance its revenue stability and growth potential[52]. Sustainability and Corporate Governance - The company is aligning its sustainability reporting with the TCFD framework to enhance climate-related disclosures[10]. - The company plans to release a sustainability report later this year to disclose its initiatives and progress in sustainable development[10]. - The company has a strong focus on sustainable development, with senior executives like Ye Dequan leading initiatives in this area since December 2020[61]. - The company emphasizes its commitment to corporate governance, with multiple committees in place, including the remuneration and audit committees, to ensure transparency and accountability[63]. Shareholder Information - As of December 31, 2022, the total shareholding of the company's director Li Zeju is 2,838,009,715 shares, representing 29.52% of the total shares[80]. - The major shareholder Gold Rainbow Int'l Limited holds 4,355,634,570 shares, accounting for 45.31% of the total shares[83]. - Trueway International Limited, another significant shareholder, possesses 2,119,318,286 shares, which is 22.05% of the total shares[83]. Financial Position - As of December 31, 2022, total assets were approximately HKD 11,266.8 million, with net assets amounting to HKD 4,155.5 million, equivalent to HKD 0.43 per share[55]. - The company maintained a net debt to total equity ratio of approximately 53.28% as of December 31, 2022, indicating a balanced financial structure[55]. - The total number of full-time employees as of December 31, 2022, was 1,856, with total employee costs, including director remuneration, amounting to HKD 1,035.6 million, a decrease of 3.2% from the previous year[58]. - The company has no significant contingent liabilities as of December 31, 2022, maintaining a stable financial position[59]. Investment and Acquisitions - The company is focused on expanding its market presence in Australia and New Zealand through strategic management of vineyard assets[69]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[69]. - The company completed a subscription agreement on July 25, 2022, where Joris Investments Limited and Cosmic Classic Limited each subscribed for 5,500,000 shares of A2 series preferred stock, resulting in a combined ownership of approximately 18.33% of Pharus, Inc.[98]. Compliance and Audit - The independent auditor, Deloitte, confirmed that the financial statements accurately reflect the company's financial position as of December 31, 2022[105]. - The company adheres to regulatory requirements from agencies such as the FDA, TGA, and Health Canada[73]. - The group is responsible for preparing financial statements that are free from material misstatement due to fraud or error, and for maintaining effective internal controls[111].

Financial Performance - The company's unaudited profit attributable to shareholders for the first half of 2022 was approximately HKD 65.1 million, a decrease of 35% compared to the same period last year[9]. - Revenue for the six months ended June 30, 2022, was HKD 2,540.6 million, compared to HKD 2,638.4 million in the same period of 2021, representing a decrease of approximately 3.7%[38]. - The gross profit for the six months ended June 30, 2022, was HKD 781.7 million, down from HKD 822.6 million in the previous year, indicating a decline of about 5%[38]. - Profit before tax for the six months ended June 30, 2022, was HKD 106.1 million, compared to HKD 138.9 million in the same period of 2021, reflecting a decrease of approximately 23.6%[38]. - The net profit for the six months ended June 30, 2022, was HKD 65.1 million, down from HKD 100.4 million in the previous year, a decline of about 35.1%[40]. - Basic and diluted earnings per share for the six months ended June 30, 2022, were both HKD 0.68 cents, compared to HKD 1.04 cents in the same period of 2021[38]. - The healthcare products segment experienced a 27% decline in profit compared to the previous year due to labor, supply chain, and cost pressures[13]. - The agricultural segment's profit decreased by 9% year-on-year, impacted by supply chain disruptions and extreme weather events affecting demand[15]. Business Environment and Challenges - The business environment faced by the company in the first half of 2022 was the most challenging since the onset of the pandemic, with supply chain disruptions and rising costs impacting operations[9]. - The ongoing pandemic and its variants have led to weakened consumer sentiment and operational challenges, affecting the company's financial outlook[82]. - Labor market changes, including high absenteeism and rising inflation, create uncertainty in labor supply and costs, impacting recruitment and training efforts[83]. - Supply chain disruptions have increased costs and delivery times, particularly in regions where the company operates, complicating operations[84]. - The global economy is experiencing significant slowdowns due to COVID-19, supply chain disruptions, and rising inflation, which may impact the company's business and financial performance[81]. Research and Development - The research and development focus includes cancer vaccines and pain relief products, with the lead cancer vaccine, seviprotimut-L, undergoing delays due to supply chain issues[10]. - The third phase of the critical clinical trial for seviprotimut-L has been approved by the U.S. FDA and will proceed under a Special Protocol Assessment[10]. - The company is advancing multiple cancer vaccine projects in preclinical development, aiming to progress to clinical trial stages in the coming years[11]. - WEX Pharmaceuticals Inc. is developing a pain relief drug, Halneuron®, based on tetrodotoxin, with FDA and Health Canada approval for a Phase 3 clinical trial targeting chemotherapy-induced neuropathic pain (CINP)[12]. - The group invested approximately HKD 58.8 million in research and development activities during the six months ended June 30, 2022[34]. - Research and development expenses for the period were HKD 58,769, compared to HKD 97,711 in the same period of 2021, indicating a reduction in R&D spending[48]. Corporate Governance - The company has implemented corporate governance principles emphasizing board quality, internal controls, and transparency to shareholders[70]. - The company has established a whistleblowing policy to handle potential misconduct and has policies against fraud and bribery[70]. - The company complied with all provisions of the corporate governance code as per the Hong Kong Stock Exchange rules during the reporting period[70]. - The board consists of eleven members, including five executive directors, one non-executive director, and five independent non-executive directors, ensuring compliance with listing rules[71]. - The audit committee, formed by three independent non-executive directors, reviewed the interim report for the six months ending June 30, 2022[75]. Financial Position - As of June 30, 2022, the total assets of the group were approximately HKD 11,395.7 million, including bank deposits and fixed deposits of about HKD 847.1 million[31]. - The total liabilities of the group were HKD 7,098.1 million, with bank borrowings amounting to HKD 5,623.8 million, primarily used for acquiring overseas businesses and general working capital[31]. - The net debt to total equity ratio was approximately 52.64% as of June 30, 2022, indicating a significant leverage position[31]. - The total equity as of June 30, 2022, was HKD 4,297.6 million, down from HKD 4,500.8 million as of December 31, 2021[42]. - The company’s total cash and cash equivalents at the end of June 2022 were HKD 847,086, an increase from HKD 673,019 at the end of June 2021[44]. Market and Competitive Landscape - The company faces intense competition and rapid technological advancements, which may adversely affect its business and financial performance[85]. - Significant investment in research and development is ongoing, but the success of these efforts is uncertain due to regulatory challenges and recruitment difficulties[86]. - Industry trends, including market conditions and interest rate fluctuations, pose significant risks to the company's financial outlook[88]. Risks and Uncertainties - The company's liquidity may be affected by the ability to refinance bank loans and other funding sources[89]. - Asset impairment risks exist, as the company must assess the recoverable value of its tangible and intangible assets at the end of reporting periods[90]. - The group’s assets and operations are at risk from natural disasters such as earthquakes, floods, and typhoons, which could significantly adversely affect its business and financial condition[102]. - Climate change poses risks to the group’s products, particularly agricultural-related products, affecting demand, supply, quality, and prices[103]. - New regulatory requirements for climate-related financial risk disclosures may impact the group’s operations, financial condition, and reputation[103].

Financial Performance - The company reported a profit attributable to shareholders of HKD 162.8 million for the year ended December 31, 2021, compared to HKD 125.2 million in the previous year, representing a growth of 30%[7]. - Long江生命科技's revenue for 2021 was HKD 5,402,312, an increase from HKD 4,942,544 in 2020, representing a growth of approximately 9.3%[46]. - The company reported a net profit of HKD 162,801 thousand for 2021, compared to HKD 125,234 thousand in 2020, representing a year-over-year increase of about 30.1%[182]. - Total revenue for the year ended December 31, 2021, was HKD 5,402,312 thousand, an increase of 9.3% from HKD 4,942,544 thousand in 2020[112]. - Basic earnings per share increased to HKD 1.69 cents from HKD 1.30 cents in 2020, representing a growth of 30%[112]. - The company reported a pre-tax profit of HKD 238,239 thousand, significantly higher than HKD 119,126 thousand in 2020, indicating strong operational performance[112]. - The total tax expense for 2021 was HKD 75,438 thousand, compared to a tax credit of HKD 6,102 thousand in 2020, indicating a significant change in tax position[180]. Revenue Growth - The health products business saw a revenue increase of 11% compared to 2020, driven by rising consumer health awareness despite ongoing supply chain disruptions[7]. - The agricultural-related business experienced a revenue increase of 7% year-on-year, aided by improved customer confidence in purchasing agricultural products[8]. - Human health business revenue increased to HKD 3,122,293,000 from HKD 2,814,728,000, representing a growth of 10.9%[174]. - Agricultural-related business revenue was HKD 2,091,543,000, up from HKD 1,961,086,000, reflecting a growth of 6.7%[174]. - Rental income rose to HKD 187,100,000 from HKD 165,824,000, marking an increase of 12.8%[174]. Research and Development - The company plans to advance multiple cancer vaccine research projects currently in preclinical development to clinical trial stages in the coming years[9]. - The cancer vaccine sevivrotimut-L is undergoing Phase III clinical trials as an adjuvant therapy for melanoma patients, with clinical data published in a major medical journal[9]. - The company is focusing on preclinical trials for immunotherapy and accelerating late-stage R&D projects to create further value opportunities[11]. - The company is actively developing Halneuron™, a pain relief drug based on tetrodotoxin, with plans for a Phase III clinical trial approved by both the FDA and Health Canada[38]. Operational Efficiency - The company is focusing on cost-saving measures and optimizing product offerings to mitigate the impact of high shipping costs and supply chain disruptions[8]. - The company is investing in new equipment and cross-functional technology projects to improve customer service and operational efficiency[8]. - The company aims to adapt to a volatile operating environment as its primary objective moving forward[21]. - The company is committed to innovation in product design and development, particularly in the health and wellness sector[66]. Sustainability and Corporate Governance - Long江生命科技 has established a sustainability committee to set and achieve multiple environmental goals, with a sustainability report to be published later this year[12]. - The group is committed to improving environmental management and has set goals for energy reduction, waste minimization, and the use of sustainable materials[68]. - The group actively engages with stakeholders to gather insights on market demands, which informs decisions on sustainability practices and disclosures[68]. - The company emphasizes sustainable development and corporate governance, with key members holding significant qualifications in these areas[63]. Shareholder Information - The board has proposed a final dividend of HKD 0.01 per share for the year ended December 31, 2021, consistent with the previous year[7]. - The company reported a total of 2,838,009,715 shares held by major shareholders, with Li Zeju holding 29.52% of the total shares[75]. - Gold Rainbow Int'l Limited and its controlled entities collectively hold 4,355,634,570 shares, representing 45.31% of the total shares[78]. - The company has a significant concentration of ownership, with major shareholders holding over 45% of the total shares[78]. Financial Position - Total assets as of December 31, 2021, amounted to HKD 11,731 million, with cash and bank deposits of approximately HKD 890.8 million[48]. - The group's total equity as of December 31, 2021, was HKD 4,500.8 million, equivalent to HKD 0.47 per share[48]. - The net debt to total equity ratio was approximately 51.33% as of December 31, 2021[48]. - The total liabilities included current liabilities of HKD 2,075.1 million and non-current liabilities of HKD 5,155.1 million as of December 31, 2021[47]. Audit and Compliance - The audit opinion confirmed that the consolidated financial statements fairly present the group's financial position as of December 31, 2021, in accordance with Hong Kong Financial Reporting Standards[97]. - The audit was conducted in accordance with Hong Kong Auditing Standards, ensuring the independence of the auditors from the group[98]. - The group’s financial statements were prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance[97]. Employee and Operational Metrics - The total number of full-time employees as of December 31, 2021, was 1,855, with total employee costs, including directors' remuneration, amounting to HKD 1,069.5 million, a 4.9% increase from the previous year[50]. - Employee costs rose to HKD 571,564 thousand from HKD 540,546 thousand, reflecting the company's investment in human resources[112]. - The group has implemented a performance-linked compensation mechanism to attract and retain talent, ensuring competitiveness in the market[69].