因此,可抗体领域的研发平台拥有多个临床接盖的项目涵盖多项领域和适应症总而言之,益胜是生产因子的领先者因为我们拥有全球首款的BFGF产品被伏记冻干粉 全球首款BFGF沿用致敬被服输的眼液以及在此基础上开发了一系列的全球首款的产品进行同时我们也是眼科修复的领导者我们的被服输眼科系列已经连续五年荣登中国医药品牌榜我们的强大的眼科组合也占据国内眼科非常领先的地位 同时我们也是创伤修复领域的领导者我们BFGF的外科系列倍福星产品倍福星外用凝胶是连续多年在中国的皮肤科 处方 药 市场销售第一的这么一个产品广泛应用于皮肤烧伤尤其是近年来成长非常快的市场比如说医美等领域 我们企业的发展愿景是成为眼科创商修复领域的领先者以及全球肿瘤领域的重要参与者公司的发展历程主要可以分为四个阶段从1990年到99年我们花了将近十年的时间进行了我们第一代的生长因子产品的开发然后并成功 在中国的货币上市这当时在全球也是一个首创所以我们是first in class的产品那么第二个阶段就是2000年到2009年我们开始了自由网络的建设我们现在的自由网络我们现在已经拥有了全国最大的眼科的以及一部分的外科的网络之一 那么在第二个十年我们同时也获得了第 ...

Financial Performance - The group's consolidated revenue for the year ended December 31, 2023, was approximately HKD 1,706,600,000, an increase of 29.5% compared to approximately HKD 1,317,700,000 in 2022[8]. - The group recorded a profit after tax of approximately HKD 275,300,000 for the year ended December 31, 2023, representing a 22.1% increase from approximately HKD 225,400,000 in 2022[8]. - The gross profit for the year was HKD 1,539,293,089, with a gross margin reflecting a strong operational efficiency[178]. - The net profit for the year was HKD 275,259,617, compared to HKD 225,411,310 in the previous year, showing an increase in profitability[178]. - Basic earnings per share increased to HKD 0.4827 from HKD 0.3927 in 2022, reflecting improved earnings performance[178]. - The overall comprehensive income for the year was HKD 244,925,110, a substantial increase from HKD 66,318,478 in 2022, indicating strong financial health[178]. - The total comprehensive income for the year ended December 31, 2023, was HKD 244,925,110, compared to a loss of HKD 132,597,063 in the previous year[183]. Cash and Assets - As of December 31, 2023, the group's cash and cash equivalents amounted to approximately HKD 509,800,000, down from approximately HKD 543,500,000 in 2022[9]. - The company reported a net cash outflow from financing activities of HKD 309,924,789 for the year ended December 31, 2023, compared to HKD 169,110,470 in the previous year[157]. - The cash and cash equivalents at the end of the year were HKD 509,845,284, down from HKD 543,486,017 at the end of the previous year[157]. - Total assets amounted to HKD 2,827,558,498, with total liabilities of HKD 903,781,273, resulting in a net asset value of HKD 1,923,777,225[180]. - The company reported a significant increase in non-current assets, totaling HKD 1,582,280,872, compared to HKD 1,498,418,728 in the previous year[180]. - The total equity as of December 31, 2023, was HKD 1,923,777,225, reflecting a stable financial position[183]. Research and Development - The group has 16 research and development projects in various stages, with 4 ophthalmology projects currently in clinical stages, identified as mid-term growth drivers[6]. - The core product, Elysium®, has become a significant growth driver for the group, acquired in March 2022, including its intellectual property and marketing rights[11]. - The company holds a total of 84 patent certificates, including 63 invention patents, indicating a strong focus on innovation[194]. - The company aims to enhance its R&D capabilities and position in the ophthalmology field through a five-year development plan initiated in 2021[193]. - The company is focusing on the development of a new gel formulation of bovine alkaline fibroblast growth factor for eye use, indicating ongoing innovation in product offerings[199]. - The company is committed to improving product efficacy and safety, as evidenced by the development of preservative-free options[199]. Market Expansion and Product Development - The group is actively pursuing market expansion and new product development strategies to enhance its competitive position in the biotechnology sector[6][11]. - The group aims to expand its market presence in lower-tier cities in China and cultivate pharmacies as auxiliary sales channels[59]. - The company is expanding its product line with the introduction of lecithin-iodine complex capsules, aiming to capture a broader market segment[200]. - The company is also launching absorbable dressings, which may enhance its presence in the medical supplies market[200]. - The company is exploring new market opportunities through the introduction of various health-related products, including mouthwash for dental care[200]. Corporate Governance and Shareholder Information - The independent auditor's report confirmed that the financial statements reflect a true and fair view of the company's financial position as of December 31, 2023[140]. - The company has maintained sufficient public float throughout the review year and as of the report date[92]. - As of December 31, 2023, major shareholders include Yan Mingjie with 152,020,667 shares (26.78%) and Liu Huijuan with 153,945,667 shares (27.12%) of the company's ordinary shares[109]. - The company has proposed a final dividend of HKD 25,541,325 for the review year[75]. - The board has proposed a final dividend of HKD 0.045 per share, up from HKD 0.025 per share in the previous year, bringing the total dividend for 2023 to HKD 0.09 per share[197]. Environmental and Social Responsibility - The group is committed to creating an environmentally friendly work environment by promoting energy conservation and recycling initiatives[19]. - The company made charitable donations totaling approximately HKD 481,000 during the review period, down from HKD 983,000 in 2022[96]. - The group emphasizes the importance of human resources as a key asset and aims to continue being an attractive employer[25].

亿胜生物科技（1061.HK） 2024-03-19 星期二 ➢ 2023 年营收利润快速增长 相关报告 整体来看，公司的眼科+外科产品均有增长动力，在复杂环境下的产 品盈利能力仍能保持稳定。核心业务中，眼科贝复舒单剂量滴眼液有 望快速增长，公司目标未来在贝复舒产品实现营收 10 亿港元。2022 年初公司顺利收购适丽顺卵磷脂络合碘胶囊，2023 年营收 1.6 亿港 元，同比增长 17.4%，占总营收 9.4%，适丽顺具有独特的药理作用， 适应症广泛，疗效受到医生及患者普遍认可，是眼底药的稀缺品种。 外科方面，2023 年贝复新系列大力开拓医美领域，由于生长因子类体 表创伤药物市场规模仍保持高速发展，因此公司在该产品的未来预期 仍保持乐观。 公司与复宏汉霖共同开发的贝伐珠单抗已经在美国、欧盟、中国、澳 大利亚进行三期临床，且已于美国 FDA 完成首例患者给药。预计于 2025 年递交新药申请。目前全球上市贝伐珠单抗产品均无湿性 AMD 适应症，市场挖掘空间广阔。公司从 Mitotech 获得 SkQ1 滴眼液全球 独家权益，目前正在进行 SkQ1 的美国三期临床试验，通过 VISTA-1 和 VISTA-2 ...

Financial Performance - The company reported a revenue of HKD 1,706,556,141 for the year ending December 31, 2023, representing a 29.5% increase from HKD 1,317,710,616 in 2022[9]. - Net profit for the year was HKD 275,259,617, up 22.1% from HKD 225,411,310 in the previous year[9]. - The diluted earnings per share increased to HKD 48.27 from HKD 39.27, marking a 22.9% growth[14]. - The total comprehensive income for the year was HKD 414,769,744, compared to HKD 351,299,679 in 2022, representing an increase of about 18.1%[47]. - The reported segment profit for the ophthalmology division was HKD 186,481,635, compared to HKD 159,844,796 in the previous year, reflecting an increase of about 16.7%[46]. - The group’s net profit attributable to owners for the year ended December 31, 2023, is approximately HKD 275,300,000, with basic and diluted earnings per share of HKD 0.4827 and HKD 0.4690, respectively[200]. Expenses and Costs - Administrative expenses increased to approximately HKD 217,000,000, compared to HKD 156,000,000 in 2022, primarily due to costs associated with expanding operations in the US and Singapore, and the establishment of an online medical consultation platform[6]. - The company’s operating expenses, including distribution and administrative costs, totaled HKD 1,228,963,269, up from HKD 914,189,203 in 2022, reflecting an increase of approximately 34.4%[35]. - The cost of inventory for the year ended December 31, 2023, was HKD 163,893,660, compared to HKD 115,850,893 in 2022, reflecting a significant increase of approximately 41.4%[52]. - Research and development costs recognized as expenses for the year ended December 31, 2023, amounted to HKD 39,144,729, up from HKD 23,507,775 in 2022, indicating a growth of about 66.5%[52]. Assets and Liabilities - Total assets increased by 4.2% to HKD 2,827,558,498 from HKD 2,712,397,133 in 2022[14]. - The company's cash and cash equivalents decreased to HKD 509,845,284 from HKD 543,486,017, reflecting a 6.2% decline[14]. - The current ratio decreased to 1.54 from 2.16, indicating a reduction in short-term liquidity[14]. - Accounts receivable increased to HKD 567,307,763 in 2023 from HKD 451,244,095 in 2022, reflecting a growth of approximately 25.7%[103]. - The group’s total liabilities for accounts payable increased to HKD 567,307,763 in 2023 from HKD 451,244,095 in 2022, indicating a significant rise in obligations[107]. Dividends - The company declared a total dividend of HKD 9.0 cents per share, up from HKD 6.5 cents per share in the previous year, reflecting a 38.5% increase[14]. - The proposed final dividend per share for 2023 is HKD 0.045, an increase from HKD 0.025 in 2022, representing an 80% increase[79]. Strategic Focus and Development - The company plans to continue exploring new product development and market expansion strategies in the ophthalmic sector[5]. - The company’s strategic focus includes expanding its product offerings in the ophthalmology and surgical segments, with ongoing development of new products and technologies[46]. - The group has a five-year R&D plan initiated in 2021 to enhance its capabilities and position in the ophthalmology field[151]. - The group has 16 research and development projects in various stages, with 4 ophthalmology projects currently in clinical stages, which are considered mid-term growth drivers[153]. Acquisitions and Partnerships - The company acquired patents and proprietary technology related to ophthalmic products from Mitotech, enhancing its ability to develop new ophthalmic indications[5]. - The acquisition of rights related to SkQ1 from Mitotech S.A. was completed in 2022, enhancing the company's portfolio in ophthalmology[88]. - The company entered into a co-development and exclusive licensing agreement with Shanghai Junshi Biosciences Co., Ltd., committing to fund 80% of the development costs for a VEGF-inhibiting pharmaceutical product[88]. - The group has secured exclusive global rights to develop and market products related to SkQ1 through a patent transfer agreement with Mitotech[171]. Market and Product Insights - The ophthalmology segment contributed approximately HKD 753,400,000 to the group's revenue for the year ended December 31, 2023, an increase of 36.1% compared to 2022[190]. - The surgical segment recorded total revenue of approximately HKD 953,200,000 for the year ended December 31, 2023, an increase of 24.7% compared to 2022[190]. - The bFGF series of products accounted for approximately 86.8% of the group's total revenue during the review period[166]. - The potential market size for the anti-VEGF product is significant, with an estimated 15,800,000 patients in China for related conditions[144]. Recognition and Awards - The company was recognized as one of the top 100 innovative enterprises in Zhuhai and received multiple awards for its contributions and investor relations[146][147]. - The group has been recognized for its flagship biopharmaceutical products, with Beifu Shou® ranking on the China Pharmaceutical Brand List for five consecutive years[178].

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 899,359,000, representing a 37.1% increase from HKD 655,825,000 in the same period of 2022[18]. - Gross profit for the period was HKD 810,462,000, up 38.2% from HKD 586,644,000 year-over-year[18]. - Net profit for the period was HKD 169,811,000, an increase of 21.9% compared to HKD 139,231,000 in the previous year[18]. - Basic earnings per share rose to HKD 0.2972 from HKD 0.2421, reflecting a growth of 22.8%[18]. - The company reported a total comprehensive income of HKD 94,632,000 for the six months ended June 30, 2023[39]. - The company reported a pre-tax profit of HKD 204,855,000 for the first half of 2023, compared to HKD 162,701,000 in the same period of 2022, marking an increase of approximately 26.0%[52]. - Profit for the period increased by 22.0% to approximately HKD 169.8 million, up from approximately HKD 139.2 million in the previous year[165]. - Revenue from the ophthalmology segment was approximately HKD 381.6 million, a 41.6% increase year-on-year, while the surgical segment recorded approximately HKD 517.8 million, a 34.0% increase[174]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 2,829,122,000, compared to HKD 2,712,397,000 at the end of 2022, indicating a 4.3% increase[9]. - Current assets increased to HKD 1,337,241,000 from HKD 1,213,978,000, marking a growth of 10.2%[9]. - Total liabilities were HKD 1,021,071,000, up from HKD 981,030,000, which is a 4.1% increase[9]. - The company reported a total equity of HKD 1,808,051,000, compared to HKD 1,731,367,000, reflecting a growth of 4.4%[9]. - The company’s total liabilities increased to HKD 456,370,000 as of June 30, 2023, from HKD 416,326,000 as of December 31, 2022, indicating a rise of approximately 10%[104]. Cash Flow - The net cash generated from operating activities was HKD 155,006,000, down from HKD 230,392,000 in the previous year, indicating a decrease of approximately 32.6%[42]. - The net cash used in investing activities was HKD 106,799,000, compared to HKD 143,617,000 in the prior period, showing an improvement of about 25.6%[44]. - The net cash used in financing activities was HKD 71,619,000, a decrease from HKD 94,588,000 in the same period last year, representing a reduction of approximately 24.3%[44]. - The total cash and cash equivalents at the end of the period were HKD 505,722,000, down from HKD 641,136,000 at the end of June 2022, a decline of about 21.1%[44]. - The company has cash and cash equivalents of approximately HKD 505.7 million as of June 30, 2023, down from approximately HKD 543.5 million at the end of 2022[171]. Share Repurchase and Dividends - The company repurchased a total of 1,019,000 shares from March to June 2023, with a total expenditure of HKD 3,681,320[25]. - The repurchase aims to enhance the company's net asset value per share and earnings per share for the benefit of all shareholders[25]. - The company plans to continue its strategy of share repurchases to support shareholder value[25]. - The company declared an interim dividend of HKD 0.045 per share, compared to HKD 0.04 per share in the previous year[74]. Research and Development - Research and development costs recognized as expenses were HKD 20,250, significantly higher than HKD 11,606 in the previous year[71]. - Research and development expenses totaled approximately HKD 90.3 million, representing 10.0% of revenue, a significant decrease from 30.1% in the previous year[176]. - The company has initiated a five-year R&D plan to enhance its capabilities and position in the ophthalmic field, focusing on growth factors, antibodies, and drug formulation technologies[155]. - As of June 30, 2023, there are 16 research and development programs in various stages, with 4 ophthalmic programs currently in clinical stages[157]. Market Presence and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18]. - The company has established a network of 43 regional sales offices in China, employing over 1,200 sales personnel and marketing representatives as of June 30, 2023[154]. - The company has expanded its business in Singapore to serve as a base for market channel expansion in Southeast Asia[154]. - The group is focusing on expanding into new therapeutic areas such as oncology, orthopedics, and neurology through strategic investments[132]. Legal and Governance - The company is in a legal dispute with the main contractor regarding the construction of its second factory, with assets worth approximately HKD 42.9 million frozen as part of the litigation[164]. - The company is committed to enhancing corporate governance and transparency in its operations[26]. Convertible Loans - The total amount of convertible loans issued by the company was approximately HKD 25,300,000, with a 5% annual interest rate, maturing on September 30, 2023[83]. - The company extended the maturity date of a convertible loan of approximately HKD 35,300,000 to July 31, 2024, with a 5% annual interest rate[81]. - The outstanding principal amount of the convertible loan was HKD 150,000,000, with no part converted into shares[180]. - If the convertible loan were fully converted at an initial conversion price of HKD 5.90 per share, it would result in the issuance of approximately 25,423,728 shares[181].

接下来我很荣幸的向大家介绍出席本次业绩发布会的管理层他们是主席闫明炽先生大家好董事总经理方海舟先生大家好副董事总经理闫贤龙先生大家好首席财务总监邱丽文女士Hello 刚才主持人也介绍了一下益胜的基本情况我在这里再强调一下其实益胜是作为一家生物科技企业我们是拥有先进的和成熟的产品以及有很好的经营性先进比例 还有也拥有全流程的生物原料制剂的生产平台涵盖向低盐液 沿用凝胶 外用凝胶 液体制剂 动钢制剂等也有一系列吹逛风的单气炼平台 也成为了一家口腔科后面一系列的产品在新加坡的独家销售代理同时我们也发布了一项在家用官僚治疗高端品牌叫佩特 那么这个应该是充分的利用了医生在眼科跟外科这些优势我们是不断的获取产品来提高我们的收入跟利润医生的核心业务其实大家刚才也介绍过主要是有眼科和外科两个部分组成那么眼科的这个业务其实现在应该说是已经涵盖了我们从眼表 那么这个就是现在应该说艺术已经基本上打造起一个完整的这个眼科的产品组合那在这在大家在器械方面我们也含有一系列在这个像钢眼的器械还在布置之中对那么眼科的产品大家最突出的就是我们的背弧术系列那背弧术系列呢应该说经过了不断的 那么可见他的在目前的知名度和美意度以及临床的认可度也是非 ...

Financial Position - As of June 30, 2023, total assets amounted to HKD 2,829,122,000, an increase from HKD 2,712,397,000 as of December 31, 2022, representing a growth of approximately 4.3%[1] - Current assets increased to HKD 1,337,241,000 from HKD 1,213,978,000, reflecting a rise of about 10.2%[1] - The net value of current assets reached HKD 712,207,000, up from HKD 653,061,000, indicating an increase of approximately 9.0%[3] - Total liabilities rose to HKD 1,021,071,000 from HKD 981,030,000, marking an increase of about 4.1%[3] - Non-current liabilities decreased to HKD 396,037,000 from HKD 420,113,000, showing a reduction of approximately 5.7%[3] - The company's equity increased to HKD 1,808,051,000 from HKD 1,731,367,000, representing a growth of about 4.4%[3] Revenue and Profitability - The company reported a total comprehensive income of HKD 46,030,000 for the period, down from HKD 139,231,000, indicating a decrease of approximately 66.9%[5] - Total revenue from the ophthalmology segment was HKD 381,569 thousand, while the surgical segment generated HKD 517,790 thousand, leading to a total revenue of HKD 899,359 thousand for the six months ended June 30, 2023, compared to HKD 655,825 thousand in the same period of 2022, indicating an increase of approximately 37.1%[18] - Profit before tax for the six months ended June 30, 2023, was HKD 204,855,000, up from HKD 162,701,000 in the same period of 2022[20] - Profit for the period increased by 22.0% to approximately HKD 169.8 million, up from approximately HKD 139.2 million in the previous year[147] Cash Flow and Investments - The company reported a net cash inflow from operating activities of HKD 155,006 thousand for the six months ended June 30, 2023, compared to HKD 230,392 thousand for the same period in 2022, representing a decrease of approximately 32.6%[7] - The net cash used in investing activities was HKD 106,799 thousand for the six months ended June 30, 2023, a decrease from HKD 143,617 thousand in the same period of 2022, indicating a reduction of approximately 25.6%[9] - The company’s financing activities resulted in a net cash outflow of HKD 71,619 thousand for the six months ended June 30, 2023, compared to HKD 94,588 thousand in the same period of 2022, showing a decrease of approximately 24.2%[9] Assets and Liabilities - The company reported a total cash and cash equivalents balance of HKD 505,722 thousand as of June 30, 2023, down from HKD 641,136 thousand at the end of the previous year, representing a decrease of approximately 21.1%[9] - The company’s total liabilities decreased from HKD 671,336 thousand at the beginning of the period to HKD 543,486 thousand by the end of the period, indicating a reduction of approximately 19.1%[9] - As of June 30, 2023, the total property, plant, and equipment amounted to HKD 510,434,000, a decrease from HKD 531,570,000 as of December 31, 2022[42] Shareholder Information - The group declared an interim dividend of HKD 0.045 per share for the six months ended June 30, 2023, compared to HKD 0.04 per share in the same period of 2022[36] - Basic earnings attributable to shareholders for the six months ended June 30, 2023, were HKD 169,811,000, an increase from HKD 139,231,000 in the same period of 2022[38] - The average number of ordinary shares used for calculating basic earnings per share was 571,307,122 for the six months ended June 30, 2023[39] Research and Development - The group has six commercialized biopharmaceutical products in China, which are part of the bFGF series[113] - The group is engaged in multiple clinical projects at different stages of development, focusing on single-dose ophthalmic products and biologics[116] - The total investment cost for the clinical development of the SkQ1 product is approximately HKD 348,000,000, representing 12.3% of the company's total assets as of June 30, 2023[127] Market and Sales - The group reported a total revenue contribution of approximately 87.6% from the bFGF series during the review period[113] - The flagship biopharmaceutical products, Beifu Shu series and Beifu Ji series, accounted for 87.6% of total revenue, with contributions of 31.9% and 55.7% respectively[148] - The estimated number of moderate to severe dry eye patients in China was approximately 119,700,000 in 2020, indicating a significant potential market size for the SkQ1 product[127] Employee and Compensation - As of June 30, 2023, the group had a total of 1,462 full-time employees, a slight decrease from 1,471 employees as of December 31, 2022[184] - Total employee compensation for the period was approximately HKD 173 million, compared to approximately HKD 161.2 million in the previous period[184] Financing and Debt - The company has secured bank financing of approximately HKD 475,400,000, with about HKD 475,100,000 already utilized[175] - The convertible loan payable to the International Finance Corporation amounts to HKD 150,000,000, with an annual interest rate of 1.9%[85][86] - The company voluntarily repaid the entire loan prior to the repayment plan on July 17, 2023[173]

Financial Performance - The company's profit decreased by 34.8% to approximately HKD 225,400,000, down from about HKD 346,000,000 in 2021[11]. - Total revenue for the year ended December 31, 2022, was approximately HKD 1,317,700,000, a decrease of 19.5% from about HKD 1,637,700,000 in 2021[19]. - The ophthalmology segment contributed approximately HKD 553,600,000 to total revenue, a decrease of 17.8% compared to the previous year[24]. - The surgical segment recorded total revenue of approximately HKD 764,100,000, down 20.8% from the previous year[24]. - The goodwill impairment loss of approximately HKD 25,800,000 from the acquisition of YesDok Pte Ltd negatively impacted the company's profit[11]. - As of December 31, 2022, the group's cash and cash equivalents amounted to approximately HKD 543.5 million, a decrease from approximately HKD 671.3 million in 2021, representing a decline of 19.0%[30]. - The total financing cost for the group was approximately HKD 11,500,000 for the year ended December 31, 2022, compared to approximately HKD 9,200,000 in 2021[125]. - The group recorded a profit after tax of approximately HKD 225,400,000 for the year ended December 31, 2022, down 34.8% from approximately HKD 346,000,000 in 2021[116]. - As of December 31, 2022, the group's bank borrowings were approximately HKD 329,500,000, down from approximately HKD 416,800,000 in 2021[118]. Revenue Sources - The flagship biopharmaceutical series, Beifu Shou and Beifu Ji, accounted for approximately 86.4% of total revenue, with contributions of 29.3% and 57.1% respectively[12]. - The company's revenue primarily comes from the ophthalmology and surgical segments, with strategic investments expanding into oncology, orthopedics, and neurology[189]. Research and Development - Research and development expenses totaled approximately HKD 342.7 million, accounting for 26.0% of revenue, a significant increase from 12.7% in 2021, primarily due to the acquisition of intellectual property related to SkQ1[49]. - The company has initiated a five-year R&D plan (2021-2025) to enhance its capabilities in the ophthalmology sector, focusing on growth factors, antibodies, and drug formulation technologies[67]. - The company has 16 R&D projects in various stages, with four ophthalmology projects currently in clinical stages, viewed as mid-term growth drivers[68]. - The group emphasizes innovation in R&D, including growth factors and antibodies for developing treatments in ophthalmology, surgery, and oncology[172]. - The group has established long-term partnerships with multiple suppliers, ensuring compliance with quality and ethical commitments[159]. - The company holds a total of 69 patent certificates or authorizations, including 50 invention patents, 14 utility model patents, and 5 design patents[180]. Market and Operations - Hospital and outpatient operations in China have gradually returned to normal as of the report date, following significant disruptions due to COVID-19[20]. - The company is expanding its market presence in Southeast Asia, particularly through its operations in Singapore[72]. - The group has established a sales network of 43 offices in China with approximately 1,240 sales personnel, of which 65% are full-time employees[34]. - The group plans to invest in clinical observation programs to confirm additional clinical indications for its commercialized products and expand into lower-tier cities in China[34]. - The group plans to expand its telemedicine services, aiming to create an ecosystem for online consultations, electronic prescriptions, and remote delivery, particularly for chronic disease patients[134]. Strategic Partnerships and Agreements - The company has entered into a joint development and exclusive licensing agreement with Shanghai Junshi Biosciences Co., Ltd. for a product aimed at treating wet age-related macular degeneration, with clinical trials approved in multiple countries[25]. - A revised agreement was signed with Junshi Biosciences on February 22, 2023, to amend certain terms of the co-development licensing agreement, including milestone payments and development costs related to anti-VEGF licensed products[33]. - The company has secured exclusive global rights to develop and market products related to SkQ1, enhancing its product pipeline in ophthalmology[14]. Challenges and Risks - The ongoing clinical trial plans were delayed due to the impact of COVID-19, particularly in the second half of 2022[10]. - The company faces significant risks related to compliance with Good Manufacturing Practice (GMP) standards, which could lead to operational halts and additional costs if not adhered to[135]. - Future prospects depend on the successful development and commercialization of new products, with challenges in predicting the success rates of biopharmaceutical product development[136]. - Ongoing changes in local regulations and policies in China's healthcare system may significantly impact the company's operational performance and future growth[140]. - The Chinese government's national drug procurement scheme aims to lower drug prices, which could negatively affect the company's existing commercial operations and strategies in China[141]. - The drug pricing system in China has seen a general decline in treatment drug prices over the past 20 years, potentially impacting market share and profitability[142]. - The ongoing COVID-19 pandemic continues to pose uncertainties regarding its financial impact on the company's operations and performance through the fiscal year ending December 31, 2023[140]. Employee and Corporate Governance - The total employee compensation for the year was approximately HKD 303.4 million, slightly down from HKD 306.3 million in the previous year[71]. - The company has a competitive compensation package for employees, including a stock option plan to recognize contributions to growth[159]. - Human resources are considered a key asset, with the company committed to employee development and training opportunities to enhance skills and career paths[153]. - The company's management team includes experienced professionals with extensive backgrounds in biotechnology and business development, enhancing its strategic planning and operational management[102][94]. Dividends and Shareholder Information - The company plans to pay a final dividend of HKD 0.025 per share for the fiscal year ending December 31, 2022, pending shareholder approval[106]. - The interim dividend of HKD 0.04 per share was paid on September 21, 2022[106]. - The board has proposed a final dividend of HKD 0.025 per ordinary share for the year, down from HKD 0.055 in the previous year, resulting in a total dividend of HKD 0.065 for 2022 compared to HKD 0.095 in 2021[182].

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 655,825,000, a decrease of 11.1% compared to HKD 737,374,000 for the same period in 2021[10]. - Gross profit for the period was HKD 586,644,000, down 5.8% from HKD 622,694,000 year-on-year[10]. - The company reported a net profit of HKD 139,231,000, representing a decline of 14.1% from HKD 162,186,000 in the previous year[10]. - The total comprehensive income for the six months ended June 30, 2022, was HKD 46,030,000, compared to HKD 180,212,000 for the same period in 2021, representing a decrease of approximately 74.5%[14]. - Cash generated from operating activities for the six months ended June 30, 2022, was HKD 180,085,000, down from HKD 205,156,000 in the previous year, indicating a decline of about 12.2%[16]. - The reported profit before tax for the six months ended June 30, 2022, was HKD 162,701,000, compared to HKD 183,074,000 for the same period in 2021, representing a decrease of approximately 11.5%[26]. - The group recorded a consolidated revenue of approximately HKD 655.8 million for the six months ended June 30, 2022, a decrease of 11.1% compared to the same period last year[117]. - The group's profit decreased by 14.2% to approximately HKD 139.2 million, down from approximately HKD 162.2 million in the same period last year, primarily due to COVID-19 restrictions impacting outpatient operations in Chinese hospitals[118]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 2,794,303,000, a decrease from HKD 2,863,439,000 at the end of 2021[12]. - Current liabilities decreased to HKD 621,173,000 from HKD 689,585,000, indicating improved liquidity management[12]. - The total liabilities decreased from HKD 1,742,906,000 as of June 30, 2021, to HKD 1,577,353,000 as of June 30, 2022, indicating a reduction of approximately 9.5%[14]. - The company’s cash and cash equivalents stood at HKD 641,136,000, down from HKD 671,336,000 at the end of 2021[12]. - The company’s total liabilities decreased from HKD 1,259,471,000 as of December 31, 2021, to HKD 1,422,203,000 as of June 30, 2022, indicating a change in financial structure[30]. - The debt-to-asset ratio as of June 30, 2022, was 37.6%, a decrease from 39.4% as of December 31, 2021, reflecting improved financial stability[137]. Cash Flow and Investments - The net cash used in investing activities for the six months ended June 30, 2022, was HKD 143,617,000, compared to HKD 119,463,000 in the same period of 2021, reflecting an increase of approximately 20.2%[18]. - The company reported a decrease in cash and cash equivalents of HKD 7,813,000 for the six months ended June 30, 2022, compared to an increase of HKD 52,673,000 in the same period of 2021[18]. - The company has capital commitments of 73,814,000 HKD for development costs and 211,251,000 HKD for acquired intangible assets as of June 30, 2022[94]. - The company secured bank financing of approximately HKD 629.7 million, with around HKD 505.8 million already utilized as of June 30, 2022[137]. Shareholder Information - The company paid dividends amounting to HKD 31,610,000 during the six months ended June 30, 2022[18]. - The company declared an interim dividend of HKD 0.04 per ordinary share for the six months ended June 30, 2022, consistent with the previous year[40]. - The company aims to enhance shareholder value through share repurchases to improve net asset value per share and earnings per share[187]. - Major shareholders include Yan Ming Chi with 153,945,667 shares (26.81%) and Liu Hui Juan with 153,945,667 shares (26.81%) as of June 30, 2022[176][183]. Research and Development - Research and development costs recognized as expenses amounted to HKD 11,606,000 for the six months ended June 30, 2022, compared to HKD 11,080,000 for the same period in 2021[36]. - The group has initiated a five-year R&D plan (2021-2025) to enhance its R&D capabilities and position in the ophthalmology field[110]. - The group has 15 R&D projects in various stages, with three ophthalmology projects currently in clinical stages, viewed as mid-term growth drivers[112]. Market and Product Development - The estimated number of moderate to severe dry eye patients in China exceeded 117 million in 2019, indicating a significant market potential for the SkQ1 product[103]. - The estimated number of patients for the four types of conditions treatable by the anti-VEGF licensed product in China exceeded 15.5 million in 2019[105]. - The bFGF product series accounted for approximately 86.5% of the total revenue during the review period[98]. Corporate Governance - The company maintained compliance with the corporate governance code throughout the review period[189]. - All directors confirmed compliance with the code of conduct regarding securities trading for the six months ended June 30, 2022[194].

Financial Performance - The company reported a consolidated revenue of approximately HKD 1,637,700,000 for the fiscal year ending December 31, 2021, representing a 67.4% increase from approximately HKD 978,100,000 in 2020[11]. - The company achieved a profit after tax of approximately HKD 346,000,000, a 58.0% increase from approximately HKD 218,900,000 in 2020, correlating with the revenue growth of 67.4%[17]. - Net profit for 2021 was HKD 346.0 million, up 58.0% from HKD 218.9 million in 2020[85]. - The gross profit margin improved to 85.2% in 2021 from 81.2% in 2020[85]. - Total assets increased by 18.3% to HKD 2,863.4 million in 2021 from HKD 2,421.3 million in 2020[85]. - The company recorded a profit after tax of approximately HKD 346,000,000 for the year ended December 31, 2021, representing a 58.0% increase from approximately HKD 218,900,000 in 2020[165]. Revenue Segmentation - The ophthalmology segment contributed approximately HKD 673,300,000 to the total revenue, a 60.6% increase from approximately HKD 419,200,000 in 2020, while the surgical segment recorded revenue of approximately HKD 964,400,000, up 72.6% from approximately HKD 558,900,000 in 2020[13]. - The flagship biopharmaceutical products, Beifu Shu series and Beifu Ji series, accounted for approximately 84.3% of the total revenue, with Beifu Shu series contributing 26.1% and Beifu Ji series contributing 58.2%[12]. - The ophthalmology and surgical segments contributed approximately 41.1% and 58.9% to the total revenue, respectively, with flagship products accounting for 84.3% of total revenue[92]. Research and Development - The group has initiated a five-year R&D plan (2021-2025) to enhance its R&D capabilities and position in the ophthalmology field[35]. - There are currently 15 R&D projects in various stages, with 3 ophthalmology projects in clinical stages, which are considered mid-term growth drivers[35]. - The company has a pipeline of 15 R&D projects, with 3 in clinical stages for ophthalmology, viewed as mid-term growth drivers[78]. - The group is engaged in multiple clinical projects at different stages of development, including single-dose ophthalmic products and growth factor and antibody biopharmaceuticals[58]. - The group’s key projects under the enhancement plan include EB11-18136P for dry eye syndrome in late-stage clinical trials and EB12-20145P for wet age-related macular degeneration in phase three clinical trials[161]. Strategic Partnerships and Acquisitions - A joint development agreement was established with Mitotech S.A. for a dry eye treatment eye drop containing SkQ1, with positive results from the second phase of the Phase III clinical trial[17]. - The company entered into a joint development and exclusive licensing agreement with Shanghai Junshi Biosciences for a drug product targeting wet age-related macular degeneration, with ongoing Phase III clinical trials in multiple countries[18]. - The acquisition of product rights related to various formulations containing phosphatidylcholine was completed for a consideration of RMB 97,000,000 (approximately HKD 118,900,000), expected to strengthen the company's ophthalmology business[18]. - The group completed the acquisition of rights related to the product research and development of the Ailison® product for a consideration of RMB 97 million (approximately HKD 118.9 million), which is expected to strengthen the group's ophthalmology business[65]. Market Presence and Sales - The group has established a network of 43 regional sales offices in China with approximately 1,265 sales personnel, of which 64% are full-time employees and 36% are contract or agency personnel[19]. - The therapeutic products are available in over 10,500 hospitals and medical institutions, as well as approximately 2,110 pharmacies across major cities, provinces, and counties in China[19]. - The group has a commercial portfolio of preservative-free single-dose eye drops, including tobramycin, levofloxacin, and sodium hyaluronate, with recent approval for moxifloxacin eye drops in China[58]. Financial Management and Investments - Cash and cash equivalents as of December 31, 2021, were approximately HKD 671,300,000, compared to approximately HKD 599,800,000 as of December 31, 2020[17]. - The company has a convertible loan agreement with the International Finance Corporation for a principal amount of HKD 150,000,000, with an interest rate of 1.9%[101]. - The net proceeds from the convertible loan, approximately HKD 145,000,000, were utilized for strategic investments and the development of the biopharmaceutical business[102]. - The company has a bank financing limit of approximately HKD 763,000,000, of which about HKD 491,200,000 has been utilized[120]. Challenges and Risks - The company faced challenges due to extended lockdowns and border closures in its region, impacting operations during the year[11]. - The ongoing COVID-19 pandemic has created uncertainties regarding its potential financial impact on the company's operations and financial performance for the fiscal year ending December 31, 2022[176]. - The Chinese drug pricing system is government-controlled, leading to a general decline in treatment drug prices over the past 20 years, which may negatively impact market share, revenue, and profitability[175]. Shareholder Information - The proposed final dividend is HKD 0.055 per ordinary share, increasing from HKD 0.05 in the previous year, leading to a total dividend of HKD 0.095 for 2021[39]. - The company’s share repurchase program aims to enhance net asset value per share and earnings per share for the benefit of all shareholders[117]. - The company reported a profit attributable to owners of approximately HKD 346,000,000 for the year ended December 31, 2021, resulting in basic and diluted earnings per share of HKD 0.60 and HKD 0.58, respectively[109].