中国基金报记者 安曼 又一家准IPO企业选择了并购重组！ 6月29日晚间，德固特公告称，公司拟通过发行股份及支付现金方式购买浩鲸科技控制权，并同步募集配套资金。 根据《上市公司重大资产重组管理办法》等相关规定，经初步测算，本次交易预计构成重大资产重组，不构成重组上市。 登录新浪财经APP 搜索【信披】查看更多考评等级 【导读】德固特筹划重大资产重组，明起停牌 鉴于本次交易尚处于筹划阶段，存在不确定性，为保证公平信息披露，维护投资者利益，避免对公司证券交易造成重大影响，根据深圳证券交易所的相关 规定，经公司申请，公司股票自2025年6月30日开市起停牌。 记者注意到，浩鲸科技（前身为中兴软创）脱胎于中兴通讯，自2017年新三板退市后，随即被阿里收购，在2018年更名为浩鲸云计算科技股份有限公司 （以下简称浩鲸科技）。 | 辅导对象 | 浩鲸云计算科技股份有限公司 | | | --- | --- | --- | | 成立日期 | 2003年2月21日 | | | 注册资本 | 76,414.9440 万元 鲍钟峻 | 法定代表人 | | 注册地址 | 南京市雨花台区安德门大街 50号 B座 6楼 | | | 控股 ...

不过，德固特提醒，本次交易对方的范围尚未最终确定，最终确定的交易对方以公司后续公告的重组预 案或重组报告书披露的信息为准。本次交易不会导致公司实际控制人变更。 浩鲸科技成立于2003年，注册资本79162.45万元，是一家国际化的软件和信息技术服务商，面向全球电 信运营商、云基础设施服务商及政企客户提供数字化解决方案，目前形成了电信软件开发及服务、云管 软件开发及服务和行业数字化解决方案三大业务线。 浩鲸科技官方微信公众号近日发文称，浩鲸科技从算力、能力、方案三个维度，推出创新的"三融"端到 端智算供给方案。当前，"三融"智算方案已于上海和川渝地区教育行业试点先行，提供"开箱即用"的算 力及科研服务，辐射长三角、西南部乃至全国的教育数字化变革。 （原标题：300950，筹划重大资产重组，停牌！） 筹划重大资产重组，德固特拟购买浩鲸科技控制权。 又一A股公司筹划重大资产重组。6月29日，德固特(300950)公告称，公司拟通过发行股份及支付现金方 式购买浩鲸科技控制权，并同步募集配套资金。预计构成重大资产重组，不构成重组上市。公司股票自 6月30日开市起停牌，预计在不超过10个交易日的时间内披露本次交易方案。 ...

Group 1 - A total of 130 stocks reached a 52-week high as of June 11, with notable performers including Derin International (01126), Republic HC (08357), and Linkong Biotechnology Group (00690) achieving high rates of 44.71%, 37.50%, and 35.79% respectively [1] - The closing prices and highest prices for the top three stocks are as follows: Derin International at 9.000 and 9.580, Republic HC at 0.190 and 0.220, and Linkong Biotechnology Group at 0.126 and 0.129 [1] - Other significant stocks that reached new highs include China San San Media (08087) with a high rate of 31.82% and Dekang Agriculture (02419) with a high rate of 15.32% [1] Group 2 - The report also lists stocks that reached new lows, with the lowest performer being Caixin Media Equity (02986) at a low rate of -28.57% [4] - Other notable stocks that reached new lows include New Qian An (02573) at -19.64% and METALIGHT (02605) at -14.71% [4] - The closing prices for the lowest performing stocks include Caixin Media Equity at 0.014, New Qian An at 17.760, and METALIGHT at 6.370 [4]

Company Overview - The company has over 30 years of experience in the pharmaceutical industry in China, focusing on research-driven and market-oriented biopharmaceutical development[10]. - The group currently markets over 25 proprietary, generic, and licensed-in pharmaceutical products across Mainland China, Hong Kong, Macau, and Taiwan[11]. - The therapeutic areas of focus include cardiovascular health, women's health, pediatrics, rare diseases, oncology, dermatology, and obstetrics, with a strong project pipeline[12]. - The company has established partnerships with around 30 international companies for development and commercialization rights[11]. - The company is committed to maintaining a strong infrastructure in drug development, clinical development, regulatory compliance, manufacturing, sales, and marketing[11]. Manufacturing and Operations - The manufacturing plant in Hefei, Anhui Province, operates four GMP-compliant workshops for various pharmaceutical products, while the Guangzhou site includes solid dosage production lines for tablets and capsules[13]. - The Nansha manufacturing facilities, established in 2015, are now contributing meaningfully to revenue with advanced production capabilities[40]. - The Hefei manufacturing facility recorded a 34% increase in total production volume in 2024, with a 77% surge in pre-filled syringe production volume[69]. Financial Performance - Revenue for 2024 reached HK$1,399,969, representing a 32.9% increase from HK$1,053,034 in 2023[21]. - Gross profit increased by 36.6% to HK$753,355 from HK$551,311 in the previous year[21]. - Profit attributable to the owners of the Company surged by 457.5% to HK$93,099 compared to HK$16,698 in 2023[21]. - Basic earnings per share rose to 15.81 HK cents, a 456.7% increase from 2.84 HK cents in 2023[21]. - Total dividend per share increased by 150.0% to 4.5 HK cents from 1.8 HK cents in 2023[21]. - The dividend payout ratio decreased to 28.5% from 63.4% in the previous year[21]. Research and Development - The drug development pipeline includes major therapeutic areas such as cardiovascular health, women's health, and oncology, with 4 projects currently under review by the CDE[44]. - Research and development expenses were reduced to HK$83.8 million in 2024 from HK$96.8 million in 2023, optimizing resource allocation[34]. - The Group is collaborating with Auransa Inc. to manufacture AU409, an AI-derived drug targeting advanced hepatocellular carcinoma, with the Phase I clinical trial expected to conclude by Q2 2025[46]. - The Group's R&D efforts have led to the development of new products, including Sokazoli monoclonal antibody injection and INOmax® inhaled nitric oxide gas[180]. Product Portfolio - The Company has a diverse product portfolio including proprietary and licensed-in products across various markets[18][19]. - New products include Livaracine® and Nadroparin Calcium Injection, targeting blood clots and deep vein thrombosis[18]. - The Group's new product Socazolimab Injection (善克鈺®) and Adapalene and Clindamycin Combination Gel (馥霖安®) are expected to drive future growth after being listed in procurement platforms[90]. Market Strategy - The sales and distribution network covers most provinces and cities in Mainland China, utilizing both direct and channel sales[13]. - The company aims to expand its market presence and enhance its product offerings through ongoing research and development initiatives[12]. - The Group's strategic direction includes expanding its market presence and enhancing its R&D capabilities through collaboration with renowned scientists[185]. Corporate Governance and Leadership - The company has a strong leadership team with extensive experience in finance and management, including key personnel like Li Xiaofang and Li Yini, who have been with the company since 1997[148][149]. - The company is focused on maintaining high standards of corporate governance and financial transparency, which is critical for investor confidence and long-term success[156][162]. - The Group established a Risk Control Centre in 2020 to enhance compliance and audit operations[165]. Challenges and Future Outlook - The Group's strategic execution and commitment to innovation have positioned it for long-term growth despite challenges from legacy product agreements and the scaling of new products[58]. - The Group is focusing on cost-control measures and enhancing operational efficiency to navigate challenges in China's pharmaceutical industry[140]. - The Group's commitment to cost-saving measures aims to enhance operational performance and profitability while managing expenditures effectively[64].

Financial Performance - Revenue for the year ended December 31, 2024, reached HKD 1,399,969, representing a 32.9% increase from HKD 1,053,034 in 2023[2] - Gross profit increased by 36.6% to HKD 753,355, up from HKD 551,311 in the previous year[2] - Profit attributable to owners of the company surged by 457.5% to HKD 93,099, compared to HKD 16,698 in 2023[2] - Basic and diluted earnings per share rose by 456.7% to HKD 15.81, up from HKD 2.84 in the prior year[2] - Operating profit for the year was HKD 113,142, significantly up from HKD 43,553 in 2023[4] - The total comprehensive income for the year was HKD 124,663,000, compared to HKD 127,582,000 in the previous year, a slight decrease of about 2%[8] - The company reported a profit of HKD 93,099,000 for the year, which is a recovery from a loss in the previous period[8] - The group recorded revenue of HKD 1,399,969,000 for the fiscal year ending December 31, 2024, a significant increase of 32.9% compared to HKD 1,053,034,000 in the previous year[33] - Gross profit reached HKD 753,355,000, up 36.6% from HKD 551,311,000 last year, with a gross margin improvement from 52.4% to 53.8%[36] - The group achieved a net profit attributable to shareholders of HKD 93,099,000 for 2024, a substantial improvement from HKD 16,698,000 in 2023[39] Dividends - The board proposed a final dividend of HKD 0.025 per share, an increase from HKD 0.01 in 2023[2] - The company declared an interim dividend of HKD 0.020 per share, totaling HKD 11,777,000, compared to HKD 0.008 per share and HKD 4,711,000 in the previous year[26] - The company plans to propose a final dividend of HKD 0.025 per share, totaling HKD 14,721,000, compared to HKD 5,888,000 in the previous year[27] - The board of directors proposed a final dividend of HKD 0.025 per share for the year 2023, an increase from HKD 0.010 per share in the previous year[55] - The final dividend will be distributed on June 16, 2025, pending shareholder approval at the annual general meeting[59] Assets and Liabilities - Non-current assets decreased to HKD 1,833,281 from HKD 2,234,040 in 2023[6] - Current liabilities increased to HKD 771,254 from HKD 648,818 in the previous year[6] - Total equity attributable to the company's owners decreased from HKD 2,038,955,000 in 2023 to HKD 1,651,799,000 in 2024, a decline of approximately 19%[7] - Total equity decreased from HKD 1,960,598,000 in 2023 to HKD 1,548,906,000 in 2024, representing a decline of about 21%[8] - The total assets of the group for 2024 were HKD 2,617,866,000, a decrease from HKD 2,890,667,000 in 2023[19] - The total liabilities for 2024 increased to HKD 1,068,960,000 from HKD 930,069,000 in 2023[19] Research and Development - Research and development expenses increased to HKD 83,829,000 in 2024 from HKD 96,804,000 in 2023, indicating a focus on innovation[14] - The group invested a total of HKD 193,085,000 in research and development, representing 13.8% of annual revenue, down from 20.9% in the previous year[37] - The company is currently developing multiple assets in key therapeutic areas including cardiovascular health, women's health, pediatrics, rare diseases, dermatology, and obstetrics, with several projects in late-stage development[42] Market and Sales Performance - Over 90% of the group's revenue in 2024 was derived from operations in the People's Republic of China[18] - The sales of newly introduced products increased significantly, with sales of "布累迪寧®" rising by 24.5% to HKD 133,800,000 and "芮舒延®" soaring by 143.4% to HKD 20,700,000[34] - The group’s proprietary products showed strong performance, with sales of "立騰菁®" increasing by 130.4% to HKD 192,700,000[34] Operational Challenges and Strategies - The company is facing significant challenges due to the inclusion of products in the national medical insurance plan, leading to profit declines and increased operational costs[53] - The company is implementing strict cost control measures to enhance operational efficiency in response to profit pressure from drug procurement policies[54] - The company continues to focus on innovation and optimizing its product portfolio to overcome challenges and ensure long-term growth[35] Corporate Governance - The annual general meeting is scheduled for May 22, 2025, to discuss shareholder matters[56] - The company will suspend share transfer registration from May 19, 2025, to May 22, 2025, to determine eligible shareholders for the annual general meeting[57] - The independent auditor has reviewed the preliminary performance announcement, confirming consistency with the audited financial statements[65] - The company will publish its annual report for the year ending December 31, 2024, on its website and the designated exchange website[66] - The board of directors includes Chairperson Li Xiaofang and Executive Director Li Yeni[67] - The company has independent non-executive directors including Chen Youzheng, Jiang Qihua, and Zhan Huaqiang[67] - The meeting was held on March 27, 2025, indicating ongoing corporate governance and transparency efforts[67]

Financial Performance - The Group's revenue for the first half of 2024 reached HK$658,345,000, a significant increase of 28.5% compared to HK$512,308,000 in the same period of 2023[4] - Gross profit for the first half of 2024 was HK$350,595,000, reflecting a 23.2% increase from HK$284,463,000 in the first half of 2023, despite a decrease in gross profit margin to 53.3%[7] - Net profit attributable to the owners of the Company was HK$62,478,000, a remarkable increase of 287.7% from HK$16,117,000 in the first half of 2023[10] - Profit for the period increased significantly to HK$54,869,000, compared to HK$20,909,000 in 2023, marking a 162.5% year-over-year growth[115] - Basic and diluted earnings per share for the period were both HK$10.61, compared to HK$2.74 in the previous year, reflecting a substantial increase[115] Revenue Composition - Notable product sales growth included Treprostinil Injection at 56.8%, Teglutik® at 187.2%, and Trittico® at 232.1%, with Nadroparin Calcium Injection experiencing a tenfold increase[4] - The contribution from licensed-in products decreased to 38.9% of revenue, down from 46.9% in the same period of 2023, while proprietary and generic products increased to 61.1% from 53.1%[6] - The Group's strategic shift towards proprietary and generic products is driven by changes in the market environment[6] Expenses and Cost Management - Research and development expenses totaled HK$84,713,000, a decrease of 25.5% from HK$113,634,000 in the same period last year, representing 12.9% of revenue[9] - Selling and distribution expenses rose to HK$172,265,000, an increase of 17.2% compared to HK$146,931,000 in the same period last year, with a selling expenses to revenue ratio of 26.2%[10] - The Group faces challenges from increased competition and rising operating costs, necessitating strategic management and focus[30] - To address these challenges, the Group will implement stringent cost control measures and emphasize efficiency across the value chain, particularly in sales and R&D functions[33] Research and Development - The Group is focusing on optimizing resource allocation among prioritized R&D projects while maintaining cost-saving efforts[9] - The oncology pipeline includes 6 innovative treatments and 4 generics, with a recent submission for indication expansion of Socazolimab Injection to the NMPA based on Phase III trial results for extensive-stage small-cell lung cancer[18] - The Group maintains a strong project pipeline, with the NDA for Cetraxal® Plus submitted in 2023 and currently under review by the CDE[14] Financial Position - As of June 30, 2024, the Group's current ratio improved to 1.10 from 1.01 on December 31, 2023, indicating better liquidity[44] - The Group's net debt position increased to HK$36,488,000 as of June 30, 2024, compared to HK$19,563,000 on December 31, 2023[44] - Total equity attributable to the owners of the Company decreased from HK$2,038,955,000 as of December 31, 2023, to HK$1,713,545,000 as of June 30, 2024, a decline of approximately 15.9%[121] Share Options and Employee Compensation - The company adopted a new share option scheme in May 2022, replacing the previous scheme that expired in May 2022[51] - The share options granted under the 2012 scheme before its expiry remain valid, subject to the same terms and conditions[52] - The company is committed to ensuring that it does not face foreign exchange issues when dealing with its earnings and costs denominated in various currencies[50] - The share option schemes are designed to incentivize employees and align their interests with those of shareholders[51] Dividends and Shareholder Returns - The company reported an interim dividend of HK$0.020 per share, an increase from HK$0.008 in 2023, reflecting a 150% rise[96] - The company paid dividends amounting to HK$5,888,000 during the period, consistent with the previous year[125] Financial Risks and Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk, with no significant changes in risk management policies since the year-end[139] - The Group's financial risk management practices are designed to mitigate exposure to identified financial risks[140] Corporate Governance - The company has complied with the Corporate Governance Code throughout the six months ended June 30, 2024[103] - The company’s board of directors includes both executive and non-executive members, ensuring diverse governance[103] - The company is committed to reviewing its corporate governance practices to ensure ongoing compliance[103]

Financial Performance - For the six months ended June 30, 2024, the company's revenue was HKD 658,345,000, an increase of 28.5% compared to HKD 512,308,000 in the same period last year[3]. - Gross profit for the same period was HKD 350,595,000, reflecting a 23.2% increase from HKD 284,463,000 year-on-year[4]. - The profit attributable to the company's owners surged to HKD 62,478,000, marking a significant increase of 287.7% from HKD 16,117,000 in the previous year[5]. - Basic and diluted earnings per share rose to HKD 10.61, up 287.2% from HKD 2.74 in the same period last year[1]. - The interim dividend per share was increased to HKD 2.00, representing a 150.0% rise from HKD 0.80 in the previous year[1]. - The company reported a profit of HKD 54,869,000 for the six months ended June 30, 2024, compared to HKD 20,909,000 for the same period in 2023, representing a significant increase of 161.5%[16]. - Basic earnings per share increased to HKD 10.61 for the six months ended June 30, 2024, compared to HKD 2.74 for the same period in 2023[15]. - The operating profit for the period was HKD 68,134,000, up from HKD 33,067,000 in the previous year, indicating a 106% growth[26]. Revenue Sources - Sales from newly introduced products accounted for 38.9% of total revenue, down from 46.9% in the same period last year, while sales from proprietary and generic products increased to 61.1% from 53.1%[4]. - The group reported segment revenue of HKD 402,343,000 for the six months ended June 30, 2024, compared to HKD 272,091,000 for the same period in 2023, representing a 48% increase[26]. - The company generated over 90% of its revenue from operations in the People's Republic of China, indicating a strong market presence[28]. Expenses and Cost Management - Research and development expenses decreased by 25.5% to HKD 84,713,000, representing 12.9% of revenue compared to 22.2% in the previous year[5]. - Sales and distribution expenses increased by 17.2% to HKD 172,265,000, with the ratio to revenue decreasing to 26.2% from 28.7% year-on-year[5]. - The company is implementing strict cost control measures to enhance profitability and operational efficiency in response to rising operational costs and inflation pressures[14]. - Research and development expenses increased to HKD 90,082,000 from HKD 58,978,000, reflecting a 53% rise year-over-year[26]. Asset and Liability Management - Non-current assets decreased to HKD 1,851,952,000 as of June 30, 2024, down from HKD 2,234,040,000 at the end of 2023, reflecting a decline of 17.1%[17]. - Current assets increased to HKD 696,760,000, up from HKD 656,627,000, indicating a growth of 6.5%[17]. - Total equity attributable to the owners of the company decreased to HKD 1,713,545,000 from HKD 2,038,955,000, a decline of 16.0%[18]. - The company’s total liabilities decreased to HKD 288,788,000 from HKD 281,251,000, reflecting a slight increase of 2.0%[18]. - Trade receivables increased significantly to HKD 127,271,000 from HKD 84,590,000, representing a growth of 50.5%[17]. Cash Flow and Investments - Operating cash generated for the six months ended June 30, 2024, was HKD 67,203,000, compared to HKD 44,205,000 for the same period in 2023, representing a 52% increase[20]. - Net cash generated from operating activities for the six months ended June 30, 2024, was HKD 58,976,000, up from HKD 39,063,000 in 2023, reflecting a 51% growth[20]. - Cash used in investing activities for the six months ended June 30, 2024, was HKD 65,206,000, a decrease from HKD 88,587,000 in 2023, indicating a 26% reduction[20]. - Cash and cash equivalents increased by HKD 21,769,000 for the six months ended June 30, 2024, compared to a decrease of HKD 28,782,000 in the same period of 2023[20]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.020 per share for the six months ended June 30, 2024, compared to HKD 0.008 per share in 2023, totaling HKD 11,777,000[33]. - The company paid dividends of HKD 5,888,000 for both the six months ended June 30, 2024, and 2023, indicating stable dividend distribution[20]. Corporate Governance and Compliance - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that may significantly impact its financial performance[23]. - The company’s accounting policies remain consistent with those used in the annual financial statements for the year ended December 31, 2023[22]. - The company continues to comply with the corporate governance code as per the listing rules[52]. Product Development and Market Strategy - The company has submitted a new drug application for "Cetraxal® Plus" in 2023, which is currently under review by the drug evaluation center[7]. - The company is expanding production capacity for "Lichangqing®" and "Litengqing®" with a new pre-filled production line expected to be operational in 2024[6]. - The company is actively developing multiple assets in key therapeutic areas, including cardiovascular, women's health, and oncology, with a strong pipeline of innovative drugs[8][9]. - The sales and marketing team has successfully adjusted sales growth trajectories, with ten products included in the updated national medical insurance catalog[13].

Financial Performance - Revenue for the year ended December 31, 2023, was HK$1,053,034,000, a decrease of 14.6% from HK$1,233,148,000 in 2022[141]. - Gross profit for 2023 was HK$551,311,000, compared to HK$770,755,000 in 2022, reflecting a decline of 28.4%[141]. - Profit for the year was HK$19,949,000, down 56.5% from HK$45,835,000 in the previous year[144]. - Basic and diluted earnings per share for 2023 were both HK$2.84, a decrease from HK$8.71 in 2022[141]. - Total comprehensive income for the year was HK$127,582,000, compared to a loss of HK$536,605,000 in 2022, indicating a significant recovery[144]. - Research and development expenses for 2023 were HK$96,804,000, down from HK$168,885,000 in 2022, showing a reduction of 42.6%[141]. - Other comprehensive income for the year, net of tax, was HK$107,633,000, compared to an expense of HK$582,440,000 in 2022, marking a substantial improvement[144]. - The company reported a share of results from associates of HK$870,000, compared to a loss of HK$1,104,000 in 2022, indicating a positive turnaround[141]. - The total comprehensive income for the year was a loss of HK$528,438,000, compared to a loss of HK$536,605,000 in 2022, showing a slight improvement[162]. Expenses and Costs - The total interest expenses for financial liabilities amounted to HK$11,898,000, an increase from HK$7,595,000 in 2022, representing a growth of approximately 56.5%[3]. - Finance costs increased to HK$11,898,000 in 2023 from HK$7,595,000 in 2022, representing a rise of 56.3%[141]. - Amortisation of intangible assets increased to HK$56,307,000 in 2023 from HK$38,857,000 in 2022, reflecting a rise of 45.0%[162]. - Depreciation of property, plant, and equipment decreased to HK$93,194,000 in 2023 from HK$113,642,000 in 2022, a decline of 18.0%[162]. - Impairment loss recognized rose to HK$32,964,000 in 2023 compared to HK$2,022,000 in 2022, indicating a substantial increase[162]. - The current tax expense for the year was HK$12,013,000, compared to HK$13,443,000 in 2022, indicating a decrease of 10.6%[67]. - The tax charge for the year amounted to HK$10,836,000, down from HK$22,026,000 in the previous year, representing a decline of 50.8%[71]. Dividends - The final dividend for the year ended December 31, 2023, is recommended at HK$0.010 per share, maintaining the same level as 2022, with a total distribution of HK$0.018 per share for the year[97]. - The interim dividend paid on October 4, 2023, was HK$0.008 per share, compared to HK$0.010 per share in 2022[97]. - The total dividend distribution for the year ended December 31, 2023, is lower than the previous year's total of HK$0.020 per share[97]. - The company maintained a dividend payout ratio of 63.4%, with total dividends per share decreasing by 10.0% to HK$1.8[187]. Assets and Liabilities - Total assets increased to HK$2,234,040, up from HK$2,130,394, representing a growth of 4.85% year-over-year[148]. - Current assets rose to HK$656,627, compared to HK$651,634 in the previous year, reflecting a slight increase of 0.46%[148]. - Inventories increased significantly to HK$298,106, up 19.6% from HK$249,222 in 2022[148]. - Trade payables decreased to HK$74,147, down 26.8% from HK$101,301 in 2022[148]. - Total equity attributable to the owners of the Company reached HK$2,038,955, an increase of 5.95% from HK$1,924,107[149]. - Non-controlling interests improved to (HK$78,357), a reduction from (HK$81,583) in the previous year[149]. - Deferred tax assets rose to HK$10,199, compared to HK$7,584 in 2022, marking an increase of 34.3%[148]. Management and Governance - The company held its most recent annual general meeting on May 17, 2023, allowing shareholders to engage with the board[21]. - The five highest-paid individuals included three directors, with their remuneration detailed in the report[19]. - The company is committed to providing fair disclosure and transparent reporting to investors[21]. - There were no significant transactions or contracts involving directors with material interests during the year[17]. - The Company reviewed its shareholders' communication policy during the reporting period and found it to be appropriate and effective[26]. Market and Business Strategy - The Group has established extensive partnerships with over 20 international companies and currently markets over 25 proprietary, generic, and licensed-in pharmaceutical products in Mainland China, Hong Kong, Macau, and Taiwan[125]. - The Group focuses on several key disease areas including cardiovascular, women's health, pediatrics, rare diseases, oncology, dermatology, and obstetrics, with more than 40 products under different development stages[126]. - The Group has recently established an office in Thailand to conduct sales and distribution activities within the Thai market in the near future[127]. - The Group's mission is to become a successful biopharmaceutical group in Asia, providing innovative products to fight diseases and improve health and quality of life[128]. - The Group's proprietary products include Livaracine® and Nadroparin Calcium Injection, both targeting blood clots and deep vein thrombosis[172]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements provide a true and fair view of the Group's financial position as of December 31, 2023[36]. - Key audit matters were identified as significant in the audit of the consolidated financial statements, including revenue recognition[39]. - The Company’s financial statements were prepared in compliance with Hong Kong Financial Reporting Standards[36]. - The Group is responsible for ensuring the consolidated financial statements are free from material misstatement due to fraud or error[87].

Financial Performance - Revenue for the year ended December 31, 2023, was HKD 1,053,034 thousand, a decrease of 14.6% compared to HKD 1,233,148 thousand in 2022[1] - Gross profit for the same period was HKD 551,311 thousand, down 28.5% from HKD 770,755 thousand in the previous year[1] - Profit attributable to owners of the company was HKD 16,698 thousand, representing a significant decline of 67.4% from HKD 51,284 thousand in 2022[1] - Basic and diluted earnings per share for 2023 were both HKD 2.84, a decrease of 67.4% compared to HKD 8.71 in 2022[1] - Operating profit decreased to HKD 43,553 thousand in 2023 from HKD 76,560 thousand in 2022, representing a decline of 43.2%[18] - Net profit for the year was HKD 19,949 thousand, a significant drop of 56.5% compared to HKD 45,835 thousand in 2022[18] - Total comprehensive income attributable to owners of the company was HKD 124,663 thousand, down from HKD 528,438 thousand in the previous year[6] - Total comprehensive income for 2023 was HKD 127,582 thousand, compared to a loss of HKD 536,605 thousand in 2022[20] Dividends - The board recommended a final dividend of HKD 0.01 per share for the year ended December 31, 2023, unchanged from the previous year[1] - The company declared a total dividend of HKD 10,599,000 for the year, down from HKD 24,142,000 in 2022[78] - The board has proposed a final dividend of HKD 0.010 per share, consistent with the previous year[126] - The company proposes to pay a final dividend subject to shareholder approval at the Annual General Meeting, with payment scheduled for June 17, 2024[153] Assets and Liabilities - Non-current assets decreased to HKD 2,234,040 thousand in 2023 from HKD 2,130,394 thousand in 2022, an increase of 4.9%[22] - Current assets increased to HKD 656,627 thousand in 2023 from HKD 651,634 thousand in 2022, a slight increase of 0.5%[22] - The company reported a total asset value of HKD 2,890,667,000, up from HKD 2,782,028,000 in the previous year[43] - The total liabilities amounted to HKD 930,069,000, slightly down from HKD 939,504,000 in the previous year[43] - Total liabilities as of December 31, 2023, were HKD 930,069,000, slightly down from HKD 939,504,000 in 2022[70] Research and Development - The company reported a decrease in research and development expenses to HKD 96,804 thousand in 2023 from HKD 168,885 thousand in 2022, a reduction of 42.6%[18] - Research and development expenses for the year were HKD 219,849,000, a decrease of 37.5% compared to HKD 351,602,000 in the previous year, accounting for 20.9% of the corresponding annual revenue[114] - The company has over 40 projects in various stages of development, highlighting a robust pipeline for future growth[117] - The company is developing multiple assets in key therapeutic areas, including a new drug application for "Cetraxal® Plus" submitted in January 2023[95] - Research and development expenses are focused on new drug development across major therapeutic areas, including cardiovascular, women's health, pediatrics, rare diseases, dermatology, and obstetrics[137] Sales and Marketing - Sales of introduced products amounted to HKD 467,276,000, representing 44.4% of total revenue, down from 59.5% in the previous year[46] - Sales of patented and generic products reached HKD 585,758,000, accounting for 55.6% of total revenue, up from 40.5% in the previous year[46] - The company continues to strengthen its sales and marketing capabilities to adapt to the increasingly competitive business environment[56] - The company reported a significant increase in sales for its product "布累迪宁™", surpassing HKD 100 million with a growth rate of 18.9%[90] - Sales for "菲普利®" exceeded HKD 200 million, reflecting an 11.3% growth[90] - The company recorded a sales figure of HKD 113.7 million for "曲前列宁注射液（《芮旎尔®》）", with a growth of 13.9%[90] - The company achieved a substantial increase in sales for "曲特恪®", reaching HKD 50.8 million, a remarkable growth of 219.3%[90] Operational Challenges - The company faces challenges due to increasing competition and changing market dynamics, particularly with profit reductions from products included in national medical insurance plans[148] - Rising operational costs and inflation are ongoing challenges that require strategic management and careful attention from the company[148] - The company aims to enhance production capacity while implementing cost-saving measures in response to changing market conditions[50] Regulatory and Compliance - Socazolimab received conditional approval in China for the treatment of recurrent or metastatic cervical cancer, marking a significant milestone for the company[52] - The company has obtained three registration approvals from the National Medical Products Administration during the review period[53] - The INOmax DSIR Plus Delivery System™ received medical device registration from the National Medical Products Administration on May 25, 2023, indicating progress in new product development[120] - Ten products have been included in the latest medical insurance drug list, reflecting the company's efforts to expand market access[123] Future Plans - The company plans to continue implementing cost control measures to enhance profitability and ensure long-term sustainability[125] - The company plans to explore the possibility of entering the next drug procurement program after careful consideration[144] - The production capacity for "立暢青®" and "立騰菁®" is nearing saturation, and a new production line is being designed and constructed, expected to be operational in 2024[139] - The company has successfully completed the production verification for a new injectable product for neonatal respiratory distress syndrome, which is now ready for U.S. supplemental application[139] Shareholder Information - The company will hold its Annual General Meeting on May 22, 2024, with a notice to be sent to shareholders in due course[150] - The company will suspend share transfer registration from May 17, 2024, to May 22, 2024, to determine eligible shareholders for the Annual General Meeting[151]

Financial Performance - For the six months ended June 30, 2023, the company reported a net cash generated from operating activities of HK$39,063,000, a decrease from HK$252,218,000 in the same period of 2022[32]. - The company reported a profit/(loss) for the period of HK$28,460,000, a significant change from the previous year's loss of HK$290,005,000[31]. - The Group's net profit attributable to shareholders for the first half of 2023 was HK$16,117,000, a decrease of 43.4% compared to the same period last year[146]. - The Group's revenue for the first half of 2023 was HK$512,308,000, a decrease of 21.1% compared to HK$649,166,000 in the same period of 2022[157]. - The Group's gross profit for the first half of 2023 was HK$284,463,000, a decrease of 32.2% compared to HK$419,478,000 in the same period last year, with a gross profit margin of 55.5%, down 9.1 percentage points from 64.6% in the first half of 2022[141][160]. Cash and Liquidity - As of June 30, 2023, the company's cash and bank balances were HK$161,519,000, down from HK$368,047,000 as of June 30, 2022, indicating a decline of approximately 56.2%[34]. - The net decrease in cash and cash equivalents for the six months ended 30 June 2023 was HK$ (28,782) thousand, down from an increase of HK$ 85,194 thousand in the same period last year[46]. - Cash and cash equivalents at 30 June 2023 amounted to HK$ 161,519 thousand, a decrease from HK$ 368,047 thousand at the end of the previous period[46]. - The Group's principal sources of working capital include cash flow from operating and financing activities[194]. Investments and Dividends - The company incurred a net cash used in investing activities of HK$1,929,000 for the six months ended June 30, 2023, compared to HK$19,450,000 in the same period of 2022[32]. - The company paid dividends amounting to HK$88,587,000 during the reporting period, compared to HK$116,475,000 in the previous year[32]. Assets and Liabilities - The total liabilities of the Group reached HK$1,001,133,000 as of June 30, 2023[114]. - Total assets increased to HK$2,897,746,000 as of June 30, 2023, compared to HK$2,782,028,000 in 2022, reflecting a growth of approximately 4.1%[114]. - Segment liabilities rose to HK$596,649,000 as of June 30, 2023, up from HK$574,762,000 in 2022, indicating an increase of about 3.0%[114]. Research and Development - Research and development expenses for the same period amounted to (116,590), compared to (48,798) in the prior period, indicating increased investment in innovation[95]. - R&D expenses totaled HK$113,634,000, a 45.0% decrease from HK$206,517,000 in the first half of 2022, accounting for 22.2% of revenue[159]. - The Group is currently developing over 40 projects in its pipeline, including late-stage programs for various therapeutic areas such as cardiovascular and rare diseases[198][199]. - The NDA for Cetraxal® Plus was successfully submitted and accepted by the CDE in January 2023, following the completion of its Phase III clinical trial in 2022[199]. Market and Competition - More than 90% of the Group's revenue was derived from activities conducted in the People's Republic of China during the six months ended June 30, 2023[115]. - The Group is facing challenges from increased competition and elevated operating costs due to inflation in the second half of 2023[177]. - The Group is facing challenges from increased competition and profit reductions from products included in national procurement plans, necessitating strategic management[179]. Operational Efficiency and Strategy - The Group is focusing on enhancing production yield and pursuing cost-saving measures to adapt to the evolving market environment[148]. - The Group's operational efficiency has improved, allowing it to navigate the risks and opportunities presented by national reimbursement schemes[155]. - The Group's strategy includes optimizing resource allocation for priority R&D projects to continuously reduce costs[143]. - The Group aims to expand market reach and increase sales through participation in national reimbursement schemes and volume-based procurement programs[139]. Financial Reporting and Compliance - The company’s financial statements were prepared in accordance with Hong Kong Accounting Standards, ensuring compliance and accuracy[2]. - The unaudited condensed consolidated financial statements have been prepared in accordance with HKAS 34 and the applicable disclosure requirements of the Listing Rules[48]. - The application of amendments to HKFRS has had no material effect on the reported amounts in the unaudited condensed consolidated financial statements[54].