Financial Performance - Revenue for 2023 was RMB 13,229,453, a decrease of 3.8% from RMB 13,747,473 in 2022[38]. - Profit attributable to owners of the company for 2023 was RMB 2,001,906, down from RMB 2,764,093 in 2022[33]. - Total assets as of December 31, 2023, were RMB 33,670,231, compared to RMB 33,402,242 in 2022[31]. - The company reported a profit before taxation of RMB 2,369,187 for 2023, a decrease from RMB 3,385,739 in 2022[31]. - Basic earnings per share for 2023 were RMB 0.41, down from RMB 0.44 in 2022[33]. - The Group's gross profit margin decreased from 53.1% to 50.2% due to price reductions for certain products and changes in product mix[43]. - Gross profit for 2023 was RMB 6,643,033,000, reflecting a decline of 9.1% from RMB 7,305,732,000 in 2022[62]. - Net profit attributable to the owners of the company, excluding extraordinary items, was RMB 1,982,432,000, down 28.8% from RMB 2,783,452,000 in 2022[62]. Market Position and Growth - In 2023, Shandong Weigao Group Medical Polymer Company Limited achieved strong sales growth across major products despite facing pressure on overall results[6]. - The company reported continuous rapid growth in market share across various business lines, including clinical care consumables and pharmaceutical packaging[5]. - Weigao's market position has significantly improved over the past 20 years, becoming a leading enterprise in the medical devices sector in China[5]. - The company is cultivating new business segments through strategic recalibration to foster additional growth points[8]. - The company is focused on improving digital management in production and actively deploying new materials and technologies[11]. - The company is actively developing new markets, rapidly increasing customer coverage in county-level hospitals, and establishing new offices at the prefecture and city levels[21]. Product Development and R&D - Weigao's product portfolio is being enhanced through R&D, product cooperation, and mergers and acquisitions[12]. - In R&D strategy, the company is increasing in-house R&D investment and collaborating with innovative start-ups to accelerate new product launches and market access[22][23]. - The Group obtained product registration certificates for 115 new products in the PRC and completed research and development for 57 products[50]. - Total research and development expenses amounted to approximately RMB592,850,000, representing 4.5% of the Group's revenue[50]. - The clinical nursing digital products have received widespread acclaim from hospitals and healthcare personnel, indicating a promising market outlook[73]. Corporate Governance and Leadership - The company is committed to enhancing corporate governance, increasing dividend payout ratios, and promoting gender equality in leadership roles[28]. - The company has a strong leadership team with diverse backgrounds in sales, operations, and finance, enhancing its strategic direction[83][85][86]. - The board includes both executive and non-executive directors, ensuring a balanced approach to governance and strategy[85][86]. - The company has a commitment to corporate governance, with a company secretary who has over 25 years of experience in corporate finance and management[96]. - The Company has adopted a dividend policy, allowing shareholders to receive dividends declared at the Board's discretion, subject to approval by the general meeting[178]. Sales and Marketing Strategy - Weigao has developed a comprehensive direct sales network to hospitals, enhancing its channel advantages[12]. - The company is enhancing its sales platform integration, focusing marketing resources on core customer development, and improving product penetration rates in key accounts, especially tertiary hospitals[21]. - The integration of sales channels has strengthened market penetration and increased sales contribution per customer[56]. - The company maintains a strong corporate culture centered on conscience, sincerity, and loyalty to meet clinical demands[7]. Financial Commitments and Investments - The company invested approximately RMB 644,632,000 in property and production facilities to enhance its industrial zone for medical consumables[65]. - A planned investment of RMB 770,000,000 was made to acquire a 38.5% interest in the Songyuan Healthcare Industry Fund, with RMB 308,000,000 already contributed[65]. - The company plans to invest approximately RMB200,000,000 in a new production line for pre-filled syringes, expected to be operational by 2025[66]. - The company has established a robust marketing system tailored for the Chinese market, particularly a comprehensive direct sales network to hospitals, enhancing channel advantages through further integration[13]. Social Responsibility and Sustainability - The company was selected for the pilot program for green, low-carbon development zones in Shandong Province and recognized as the first medical "green bond" client of the World Bank[25]. - The Group emphasizes responsible operation and sustainable development, being recognized as the first healthcare "Green Bond" customer of the International Finance Corporation in Asia[77]. - The Group made charitable donations amounting to RMB939,000 in 2023, an increase from RMB677,000 in 2022[119]. Challenges and Market Conditions - The company faced significant profit impacts in 2023 due to decreased ex-factory prices from volume-based procurement of orthopedic products[68]. - The sales volume of general consumables and pharmaceutical packaging products increased significantly, but revenue growth was weaker than sales volume growth due to pricing and product structure impacts[68]. - The orthopedic segment has significantly improved terminal service capabilities and expanded customer coverage amid ongoing policy impacts and industry reshaping[71]. Future Outlook - The Group's management is confident in long-term sustainable development despite fluctuations in operating results in 2023, noting strong sales growth across major products[80]. - The Group has proposed a three-pronged operational strategy focusing on "platform-based," "internationalized," and "digitalized" development to create long-term stable value[79].

Investment Rating - Maintains an "Overweight" rating for the company [1][2] Core Views - Performance under pressure in 2023 due to centralized procurement and base effects, but expected to return to normal growth from 2024 onwards [1] - Revenue for 2023 was RMB 13.229 billion, a year-on-year decrease of 3.8%, with net profit attributable to shareholders of RMB 2.002 billion, down 27.6% year-on-year [1] - Operating cash flow for 2023 was approximately RMB 2.8 billion, indicating a healthy cash flow position [1] - Centralized procurement impact is narrowing, and base effects are diminishing, with expectations of a return to normal growth in 2024 [1] - The company continues to expand its product lines and internationalization efforts, with overseas revenue reaching RMB 3.4 billion in 2023, accounting for 26% of total revenue [1] Financial Summary - Revenue for 2023 was RMB 13.229 billion, a decrease of 2.9% year-on-year [4] - Gross profit for 2023 was RMB 6.643 billion [4] - Net profit for 2023 was RMB 2.002 billion, a decrease of 26.5% year-on-year [4] - PE ratio for 2023 was 9.33, with a PB ratio of 0.83 [4] - Forecasted EPS for 2024-2026 is RMB 0.48, RMB 0.53, and RMB 0.58 respectively [1] Business Segments - Medical devices segment revenue grew slightly by 2.6% to RMB 7.0 billion in 2023, with regular product revenue increasing by approximately 10% [1] - Orthopedics segment revenue decreased by 38% to RMB 1.27 billion in 2023, but is expected to stabilize and recover in 2024 [1] - Pharmaceutical packaging segment revenue decreased by 4% to RMB 2.02 billion in 2023 due to high base effects from COVID-19 vaccine packaging orders [1] - Interventional segment revenue increased by 11% to RMB 1.93 billion in 2023, with overseas business maintaining high growth [1] - Blood management segment revenue decreased by 5% to RMB 1.04 billion in 2023 due to the impact of Radisuisse [1] Innovation and Internationalization - R&D expenses in 2023 were RMB 590 million, accounting for 4.5% of revenue, with R&D personnel increasing to 1,370 by the end of 2023 [1] - The company is expanding into new business areas such as life information and support, endocrine chronic disease management, and endoscopic diagnosis and treatment [1] - Overseas revenue in 2023 was RMB 3.4 billion, a 7% increase year-on-year, with high growth in pharmaceutical packaging and blood management businesses [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 山東威高集團醫用高分子製品股份有限公 司 Shandong Weigao Group Medical Polymer Company Limited * （在中華人民共和國註冊成立的股份有限公司） （股份代號：1066） 截至二零二三年十二月三十一日止年度之 業績公佈 摘要 董事建議派付末期股息每股人民幣0.0943元（二零二二年：人民幣0.079元），該項 建議須經本公司股東（「股東」）在即將舉行的股東大會上批准後，方可作實。 * 僅供識別 1 3 綜合財務狀況表 於二零二三年十二月三十一日 • 山東威高集團醫用高分子製品股份有限公司（「本公司」）及其附屬公司（「本集 團」），截至二零二三年十二月三十一日止年度（「本年度」），錄得收入約人民 幣13,229,453,000元（二零二二年：約人民幣13,747,473,000元），較上一年度下 降3.8%，本公司擁有人應佔純利約人民幣2,001,906,0 ...

Financial Performance - The company's unaudited revenue for the six months ended June 30, 2023, was approximately RMB 6,897,700,000, a decrease of about 2.6% compared to RMB 7,078,689,000 in the same period of 2022[2] - The unaudited net profit attributable to the company's owners was approximately RMB 1,197,767,000, down approximately 21.3% from RMB 1,522,133,000 in the same period last year[2] - Excluding special items, the net profit attributable to the company's owners was approximately RMB 1,197,767,000, a decrease of about 15.8% from RMB 1,421,735,000 in the same period of 2022[2] - The gross profit for the six months ended June 30, 2023, was RMB 3,543,479,000, compared to RMB 3,708,004,000 in the same period of 2022, reflecting a decrease in gross profit margin[5] - The total comprehensive income for the period attributable to the company's owners was RMB 1,335,382,000, down from RMB 1,690,391,000 in the same period of 2022[6] - The company reported a net profit of RMB 1,197,767 for the first half of 2023, down from RMB 1,522,133 in the same period last year, reflecting a decrease of approximately 21.3%[11] - The financing costs for the six months ended June 30, 2023, were approximately RMB 138,174,000, compared to RMB 71,577,000 in the same period of 2022, indicating an increase of 93%[23] - The pre-tax profit for the six months ended June 30, 2023, was RMB 1,197,767,000, down from RMB 1,522,133,000 in the same period of 2022, reflecting a decrease of 21%[26] - Basic earnings per share for the six months ended June 30, 2023, were RMB 0.26, compared to RMB 0.34 for the same period in 2022[26] Dividends and Shareholder Returns - The company proposed an interim dividend of RMB 0.0734 per share for the six months ended June 30, 2023, compared to RMB 0.086 per share in the same period of 2022[3] - The company declared dividends amounting to RMB (356,122) for the first half of 2023, compared to RMB (292,853) in the same period of 2022, representing an increase of approximately 21.6%[11] - The company plans to distribute an interim dividend of RMB 0.0734 per share for the six months ended June 30, 2023, down from RMB 0.086 per share in the same period of 2022[59] Assets and Liabilities - The company's non-current assets as of June 30, 2023, amounted to RMB 15,184,394,000, compared to RMB 15,114,839,000 as of December 31, 2022[7] - Current assets as of June 30, 2023, were RMB 18,751,334,000, slightly up from RMB 18,287,500,000 as of December 31, 2022[8] - The company's total liabilities as of June 30, 2023, were RMB 6,603,430,000, compared to RMB 6,005,158,000 as of December 31, 2022[8] - The total liabilities decreased to RMB 27,332,298 as of June 30, 2023, compared to RMB 27,397,181 at the end of 2022, indicating a slight reduction in overall debt[10] - The company's total assets remained stable at RMB 23,579,456 as of June 30, 2023, compared to RMB 23,582,284 at the end of 2022[10] Cash Flow and Investments - For the six months ended June 30, 2023, the net cash inflow from operating activities was RMB 1,117,151, a slight decrease from RMB 1,132,320 in the same period of 2022[10] - The net cash outflow from investing activities significantly improved to RMB (268,164) compared to RMB (1,028,014) in the previous year, indicating a reduction in investment expenditures[10] - The company’s cash and bank balances were approximately RMB 6,556,096,000 as of June 30, 2023, indicating a healthy cash flow situation[49] - The company invested approximately RMB 322,017,000 in property, production equipment, and factory construction during the reporting period[52] - A planned investment of RMB 770,000,000 in the Songyuan Health Medical Industry Fund, representing a 38.5% stake, has been initiated, with RMB 308,000,000 already contributed[53] - The company has started a new production line project with an investment of approximately RMB 200,000,000, expected to commence production by 2025[53] - The company acquired 100% equity of Shandong Weigao New Biomedical Device Co., Ltd. for RMB 1,030,000,000, with RMB 721,000,000 paid during the reporting period[53] Research and Development - The company reported a decrease in research and development expenses to RMB 294,558,000 for the six months ended June 30, 2023, compared to RMB 249,126,000 in the same period of 2022[5] - Research and development expenses for the six months ended June 30, 2023, amounted to approximately RMB 294,558,000, representing 4.3% of total revenue, compared to 3.5% in the same period last year[40] - The company is investing $50 million in R&D for new technologies aimed at enhancing product features[81] Market and Product Performance - Medical device products generated revenue of approximately RMB 3,454,340,000, a year-on-year increase of 0.4%[38] - Pharmaceutical packaging business recorded revenue of approximately RMB 1,061,119,000, a year-on-year increase of 0.5%[39] - Orthopedic business revenue decreased by 33.5% to approximately RMB 797,103,000 due to ongoing policy impacts and industry restructuring[39] - Interventional business revenue increased by 18.9% to approximately RMB 1,061,650,000, with strong growth in the Chinese market[39] - The company added 177 new hospital clients, 50 other medical institutions, and 400 distributors in the domestic market during the reporting period[42] - The total number of domestic clients reached 9,735, including 3,778 hospitals and 4,369 distributors, while overseas clients totaled 7,267[42] - The company holds 722 product registration certificates and 880 patents domestically, with 771 product registration certificates and 189 patents overseas as of June 30, 2023[40] Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with all relevant provisions, except for a deviation regarding the term of non-executive directors[72] - The board consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors[73] - The audit committee, chaired by independent non-executive director Li Guohui, oversees the financial reporting process and internal control systems[78] - The company emphasizes the importance of effective internal controls and risk management systems, regularly reviewing their effectiveness[77] Future Outlook and Strategic Initiatives - The company provided a future outlook with a revenue guidance of $1.5 billion for the next quarter, representing a 25% increase[81] - New product launches are expected to contribute an additional $200 million in revenue over the next year[81] - Market expansion plans include entering three new countries by the end of the fiscal year, targeting a 30% increase in market share[81] - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $100 million allocated for potential deals[81] - Operational efficiency improvements are projected to reduce costs by 5%, enhancing overall profitability[81] Shareholder Meetings and Events - The company will suspend H-share transfer registration from October 10, 2023, to October 13, 2023, to determine the eligibility of shareholders attending the special general meeting[60] - The deadline for submitting transfer documents for the special general meeting is October 9, 2023, at 4:30 PM[61] - The interim dividend entitlement period will be suspended from October 21, 2023, to October 27, 2023[62] - The deadline for submitting transfer documents to qualify for the interim dividend is October 20, 2023, at 4:30 PM[63] - The interim dividend will be distributed on or before November 24, 2023[63] Employee and Operational Metrics - The company’s total employee costs for the six months ended June 30, 2023, amounted to RMB 1,223,966,000, an increase from RMB 1,169,839,000 in the same period of 2022[24] - Customer satisfaction ratings increased to 90%, indicating strong brand loyalty and product acceptance[81]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 山 東 威 高 集 團 醫 用 高 分 子 製 品 股 份 有 限 公司 Shandong Weigao Group Medical Polymer Company Limited * （在中華人民共和國註冊成立的股份有限公司） 1066 （股份代號： ） 截至二零二三年六月三十日止六個月之 中期業績公佈 概要 山東威高集團醫用高分子製品股份有限公司（「本公司」）及其附屬公司（「本集 團」）截至二零二三年六月三十日止六個月（「期間」），未經審核之收入約人民幣 6,897,700,000 7,078,689,000 元（二零二二年同期：約人民幣 元），較去年同期下跌約 2.6% 1,197,767,000 ，未經審核之本公司擁有人應佔純利約人民幣 元（二零二二年同 1,522,133,000 21.3% 期：約人民幣 元），較去年同期下跌約 。 1,197,767,000 不計特殊項目的本公司擁有人應佔純利 ...

Revenue and Sales Performance - In 2022, the revenue breakdown for medical device products was as follows: clinical care 34.7%, anesthesia and surgical related products 4.5%, medical testing 2.4%, and other consumables 7.2%[11]. - The sale of orthopaedic products accounted for 13.4% of total sales, while interventional products contributed 14.2% and pharma packaging products made up 15.5%[11]. - Total revenue for 2022 reached RMB 13,619,007,000, representing a 3.1% increase from RMB 13,208,942,000 in 2021[18]. - Sales of medical testing products grew by 10.5% to RMB 325,680,000 in 2022, compared to RMB 294,833,000 in 2021[13]. - Sales of other consumables surged by 38.8% to RMB 979,131,000 in 2022, up from RMB 705,304,000 in 2021[13]. - Sales of orthopaedic products decreased by 13.9% to RMB 1,830,419,000 in 2022, down from RMB 2,126,594,000 in 2021[13]. - The PRC accounted for 76.8% of total sales in 2022, down from 79.9% in 2021[16]. - Sales in the United States increased by 11.0% to RMB 1,272,330,000 in 2022, compared to RMB 1,145,923,000 in 2021[17]. - The Company experienced a 29.9% increase in sales from other regions, totaling RMB 399,002,000 in 2022[17]. Profitability and Financial Metrics - Gross profit decreased by 3.3% to RMB 7,113,082,000 in 2022, down from RMB 7,352,893,000 in 2021[18]. - Net profit attributable to the owners of the Company, excluding extraordinary items, increased by 19.7% to RMB 2,723,309,000 in 2022[18]. - The gross profit margin decreased from 55.7% to 52.2% due to changes in product structure[24]. - The clinical care business recorded a turnover of approximately RMB 4,726,552,000, an increase of 2.0% over last year[25]. - The interventional business recorded a turnover of approximately RMB 1,938,237,000, representing an increase of 9.3% over last year, mainly due to significant growth in Argon sales[25]. - The pharma packaging business recorded a turnover of approximately RMB 2,105,432,000, representing an increase of 3.2% over last year[25]. - Blood management revenue increased by 12.4% to RMB 1,097,960,000 from RMB 976,862,000 in the previous year[35]. Research and Development - The company is engaged in the research and development, production, and sale of various medical device products, indicating a strong focus on innovation[7]. - Total research and development expenses amounted to approximately RMB 546,552,000, representing 4.0% of the Group's revenue[27]. - The Group obtained 123 new patents and has 171 new patents under application in the PRC, with 60 new product registration certificates obtained[25]. Corporate Governance and Management - The independent auditor for the company is Deloitte Touche Tohmatsu Certified Public Accountants, ensuring compliance and transparency in financial reporting[6]. - The Board proposed a final dividend of RMB 0.079 per share for the year ended 31 December 2022, totaling RMB 361,080,000, an increase from RMB 297,091,000 in 2021[21]. - The final dividend will be subject to shareholder approval at the Annual General Meeting[21]. - The Company has adopted the Model Code for securities transactions by Directors, confirming compliance throughout 2023[149]. - The Board of Directors consists of nine members, including four executive Directors, two non-executive Directors, and three independent non-executive Directors[153]. - The Company emphasizes the importance of good corporate governance as part of its culture to create value for shareholders[136]. - The Company has established a corporate governance committee on May 30, 2013, to develop and review corporate governance policies[181]. Investments and Acquisitions - The Group invested approximately RMB 1,069,636,000 in the purchase of properties and production facilities during the year[44]. - The Group acquired 100% equity interest in Weihai Weigao Medical Materials Company Limited for RMB 288,000,000, focusing on infection protection products[44]. - In January 2023, the Group's subsidiary Weigao Orthopaedic agreed to acquire 100% equity interest in Shandong Weigao Newlife Medical Device Co., Ltd. for RMB 1,030,000,000, with an estimated payment of RMB 721,000,000 in 2023[45]. Employee and Workforce Information - The total number of employees as of December 31, 2022, was 12,122, an increase from 11,123 in the previous year[36]. - The total cost of salaries, welfare, and social benefits for the Group amounted to approximately RMB 2,178,787,000, up from RMB 2,068,103,000 in 2021[38]. - The gender ratio in the workforce was 56% male and 44% female as of December 31, 2022[139]. Market Strategy and Competitive Position - The company is leveraging its extensive market coverage and product portfolio to enhance competitiveness and market share[48]. - The Group's strategy of integrating sales channels has strengthened market penetration and increased sales contribution per customer[34]. - The company aims to enhance customer loyalty and global market shares by focusing on international customer development and seizing overseas market opportunities[52]. - The company has expanded its product portfolio in specialist care sectors such as anesthetics, pulmonology, and urology[49]. Financial Health and Cash Flow - The Group's cash and bank balance as of December 31, 2022, amounted to approximately RMB 6,862,278,000, with a net cash flow from operating activities of approximately RMB 2,214,574,000 for the year[43]. - Total interest expenses for the Group for the year ended December 31, 2022, were approximately RMB 191,401,000, compared to RMB 140,441,000 in 2021[43]. - The gearing ratio of the Group decreased to 20.1% as of the end of 2022, down from 20.9% in 2021[43]. Shareholder and Investor Relations - The Company maintains an ongoing dialogue with shareholders and investors, regularly reviewing its communication policy to ensure effectiveness[196]. - The Company disseminates information to shareholders through interim and annual results reports, Stock Exchange announcements, and general meetings[195]. - The external auditor is appointed as the scrutineer to ensure proper counting and recording of votes at shareholders' meetings[199]. Connected Transactions - The Company acquired Weigao Medical Materials for a cash consideration of RMB 288 million, constituting a connected transaction under the Listing Rules[127]. - The auditor performed assurance procedures on the continuing connected transactions for the year ended December 31, 2022, in accordance with relevant standards[134]. - The independent non-executive directors confirmed that the continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[132]. Future Outlook and Strategic Plans - The management is confident in the long-term sustainable development and growth of the company in 2023 and beyond, despite macroeconomic uncertainties[62][64]. - The company aims to enhance its product portfolio through R&D, domestic and international collaborations, and acquisitions, focusing on "platformization," "internationalization," and "digitalization" as key strategies[61].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部 份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 山 東 威 高 集 團 醫 用 高 分 子 製 品 股 份 有 限 公司 Shandong Weigao Group Medical Polymer Company Limited * （在中華人民共和國註冊成立的股份有限公司） 1066 （股份代號： ） 截至二零二二年十二月三十一日止年度之 業績公佈 摘要 • 山東威高集團醫用高分子製品股份有限公司（「本公司」）及其附屬公司（「本集 團」），截至二零二二年十二月三十一日止年度（「本年度」），錄得收入約人民 13,619,007,000 13,208,942,000 幣 元（二零二一年：約人民幣 元），較上一年度增 3.1% 2,723,309,000 長 ，本公司擁有人應佔純利約人民幣 元（二零二一年：約人 2,275,929,000 19.7% 民幣 元），較上一年度增長 。 • 截至二零二二年十二月三十一日止年度收入較上一年度不計因同一控制下 13 ...

Shandong Weigao Group Medical Polymer Company Limited* 山東威高集團醫用高分子製品股份有限公司 | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | (a joint stock limited company incorporated in the People's Republic of China with limited liability)(在中華人民共和國接爵成立的服務有限公司)(Stock Code 股票站碼 : 10 ...