Environmental, Social & Governance Report 環境、社會及管治報告 2024 Environmental, Social and Governance Report 環境、社會及管治報告 2024 Content 目錄 | About This Report | | | --- | --- | | 關於本報告 | 2 | | Board Statement | | | 董事會聲明 | 6 | | About Us | | | 關於我們 | 8 | | Brand and Culture | | | 品牌與文化 | 10 | | 2024 Sustainability Achievements | | | 二零二四年可持續發展成果 | 12 | | Overview of ESG Key Performance | | | Indicators (KPIs) | | | ESG關鍵績效概覽 | 13 | | Awards and Honours | | | 榮譽獎項 | 14 | | ESG Management System | | | ESG責任管理 | 16 | | ...

Financial Performance - The company reported a revenue increase of 12% year-over-year, reaching $1.2 billion for the fiscal year 2024[6]. - For the year ended December 31, 2024, the Group's revenue amounted to RMB 7,259,644,000, representing an increase of 7.18% from RMB 6,773,463,000 for the corresponding period of last year[27]. - The net profit for the year was RMB 886,933,000, a decrease of 10.62% from RMB 992,313,000 in the previous year[27]. - Profit attributable to owners of the Company was RMB 521,795,000, down 11.59% from RMB 590,188,000 in 2023[27]. - Earnings per share decreased to RMB 0.41 from RMB 0.46 in 2023[27]. - The gross margin improved to 55%, up from 52% in the previous year, due to cost optimization strategies[6]. - The gross margin for 2024 was 39.64%, down from 42.04% in 2023[22]. - The gross margin for the year ended December 31, 2024, was 39.64%, down from 42.04% in 2023, while the net profit margin decreased to 12.22% from 14.65%[75]. - The Group's total revenue for the year ended December 31, 2024, was RMB 7,259,644,000, an increase from RMB 6,773,463,000 in 2023, representing a growth of approximately 7.2%[107]. User Growth and Market Expansion - User data showed a growth in active users by 15%, totaling 5 million users by the end of 2024[6]. - Market expansion efforts led to a 25% increase in sales in the Southeast Asia region, now accounting for 30% of total sales[6]. - A new partnership with a leading e-commerce platform is projected to boost online sales by 30% in the upcoming year[6]. Product Development and R&D - New product launches contributed to 20% of total revenue, with three major products introduced in Q4 2024[6]. - The company invested $50 million in R&D for new technologies, focusing on enhancing product efficacy and user experience[6]. - The Group's innovative drug Qishen Granules successfully obtained the Notice of Approval for Clinical Trial, enhancing its research and development capabilities[52]. - Research and development expenses for the year ended December 31, 2024, were RMB 84,823,000, accounting for 1.17% of revenue, down from 1.74% in 2023[76]. Strategic Initiatives - The Group adjusted its marketing strategies to enhance consumer experience and broaden sales channels in response to market challenges[30]. - The Group will continue to optimize its strategic management system and marketing reforms as part of the "14th Five-Year Plan" initiatives[42]. - The Group's marketing strategies include the "Glow Campaign" and "Flag-planting Campaign" to enhance market penetration and consumer engagement[46]. - The Group aims to optimize production processes and improve supply security systems to support growth during the 15th Five-Year Plan[97][100]. Financial Position and Liquidity - The current ratio decreased to 3.81 from 4.49 in 2023, indicating a decline in liquidity[22]. - Total assets increased to RMB 14,408,591,000 from RMB 13,507,742,000 in 2023[22]. - The debt to asset ratio rose to 29.45% from 28.55% in 2023, reflecting a slight increase in leverage[22]. - The liquidity ratio as of December 31, 2024, was 3.81, down from 4.49 in 2023, indicating a decrease in financial resources[64]. - Cash and cash equivalents increased to RMB 412,948,800 as of December 31, 2024, from RMB 274,645,800 in 2023[66]. Challenges and Risks - The Group faced significant increases in raw material costs due to supply chain constraints and rising market demand, impacting production costs[45]. - The Group faces major risks including policy risks and operational risks, which may impact business operations and financial performance[146]. - Increasing regulatory standards in pharmaceuticals impose higher requirements on safety and environmental management, leading to potential cost increases[147]. - The Group's production of Chinese patent medicines involves complex processes and strict quality control, with potential risks of sporadic issues affecting reputation and finances[149]. Shareholder Information - As of December 31, 2024, substantial shareholders held a total of 617,129,000 shares, representing 93.46% of the issued shares[141]. - The largest customer, Tong Ren Tang Holdings and its subsidiaries, contributed RMB 2,257,367,000, representing 31.09% of total revenue, up from 23.61% in 2023[119]. - The Group's purchases from the five largest suppliers accounted for 31.24% of total purchases, with the largest supplier contributing 10.47%[119]. Legal and Compliance - The Group is committed to compliance with various laws and regulations, including the Company Law and Good Manufacturing Practice, to mitigate legal risks[156]. - The Group has implemented a strategic deployment for legal compliance and risk management, enhancing its governance and integrity systems[157]. - There were no significant legal risk events or non-compliance issues reported during the year[158].

（於中華人民共和國註冊成立的股份有限公司） （股份代號：1666） 自願公告 簽署戰略合作協議 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 而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本公告由北京同仁堂科技發展股份有限公司（「本公司」，連同本公司之附屬公司，「本 集團」）之董事會（「董事會」）自願作出，旨在使本公司股東及潛在投資者了解本集 團之最新業務發展。 董事會欣然宣佈，本公司之附屬公司北京同仁堂國藥有限公司（「同仁堂國藥」）與中 免國際有限公司（「中免國際」）簽署了戰略合作協議（「戰略合作協議」）。 一、 戰略合作協議的主要內容 (一)合作目標 同仁堂國藥與中免國際視彼此為重要合作夥伴，將充分發揮各自領域的優勢，通過戰略 合作協議涉及的合作實現共同發展、利益最大化。雙方建立合作機制，實現資源整合， 促進互利共贏。雙方努力創造條件，將最具競爭力的優勢資源投入合作當中，共同致力 於拓展同仁堂國藥的海外市場，重點拓展「一帶一路」沿線國家及東南亞地區。 1 (二)合作內容 1. 在現有海南免 ...

Core Strategy - The company is focusing on its "big product" strategy, reallocating resources to core products that demonstrate strong market potential and clinical value [1][2] - Since the implementation of the "big product" strategy in 2020, the company has identified over 20 high-value traditional Chinese medicine products from nearly 200 options, categorized into various therapeutic series [1] Product Development - The company has selected five core products, including Jingzhi Niuhuang Jiedu Pian and Liuwei Dihuang Wan, and is implementing differentiated marketing strategies to enhance their market share [2] - The "Yuyao 300 Years" series is being positioned as a key component of marketing activities, aiming to strengthen market presence through partnerships with major retail chains [2] Market Expansion - The company plans to cultivate a range of small to medium-sized products that align with market demands, focusing on preventive health interventions [2] - In the non-pharmaceutical sector, the company aims to explore market potential for health products like Ejiao food series and Pi Pa Lu, leveraging existing sales channels for broader market reach [2]

Core Insights - The article highlights the strategic initiatives of Beijing Tongrentang Technology Development Co., Ltd. to enhance its channel resources and improve market efficiency through data empowerment [1] Group 1: Channel Strategy - The company has established a direct data collection and analysis system to monitor product flow and sales speed, allowing for rapid adjustments in marketing strategies [1] - A shift towards a more agile marketing model is planned, focusing on a "flat" configuration to shorten sales chains and improve distribution efficiency [1] - The company aims to enhance "channel profitability" by deeply integrating resources with strategic partners, terminal channels, and e-commerce channels, implementing targeted marketing strategies based on region, product type, and channel [1] Group 2: Terminal Store Development - The company is developing flagship stores with standardized management processes, including specific requirements for product variety, promotional activities, and product placement [2] - High-cohesion flagship stores will incorporate AI health screening services to provide personalized medication recommendations to customers [2] - The company plans to launch an upgraded version of its market penetration initiatives, focusing on core products to enhance brand image and promote sales [2] Group 3: Brand and Cultural Promotion - The company will continue to leverage its unique brand value and core product influence by enhancing the appeal of its "Traditional Chinese Medicine Culture in Schools" program [2] - Activities such as the "Tongrentang Pharmacy Workshop" will train pharmacy staff, improving their knowledge of products and skills, thereby strengthening brand penetration at the grassroots level [2]

Core Insights - The new production line for Tongrentang Technology's "An Gong Niu Huang Wan" has received GMP certification, indicating readiness for production and expected capacity increase of over 30% [1][3] Company Overview - Tongrentang's "An Gong Niu Huang Wan" is a flagship product, holding approximately 50% market share in the segment [3] - The company is accelerating capacity enhancement to meet rising market demand for "An Gong Niu Huang Wan" [3] Production Capacity and Efficiency - The new production line allows for clearer division of labor, with each line dedicated to a specific product type, thus reducing the workload associated with switching between different types [3] - The production area has been expanded and optimized, improving overall production efficiency by shortening distances between processes [5] Technological Advancements - The company has introduced advanced smart production equipment, enhancing the appearance and weight consistency of the pills [5][6] - Implementation of quantum cloud coding and laser marking technology provides each pill with a unique ID, ensuring precise management and traceability throughout the production and sales process [6] - The use of quantum cloud codes enhances anti-counterfeiting measures, allowing for easy verification even if packaging is damaged, thus ensuring consumer safety [6]

Group 1 - The core viewpoint of the news is that Tongrentang Technology has made significant progress in its traditional Chinese medicine processing project in Yutian, Hebei, with over 50 sets of equipment successfully installed and operational work underway [1][2][3] Group 2 - In 2024, coinciding with the 10th anniversary of the Beijing-Tianjin-Hebei coordinated development strategy, Tongrentang Technology has initiated the construction of a traditional Chinese medicine processing workshop to enhance its processing capacity and optimize its industrial layout [2] - The project is located in the National Agricultural Science and Technology Park in Yutian County, Tangshan City, covering an area of 80 acres, primarily focusing on the preparation of raw medicinal materials [2] - The first phase of the project includes three main buildings: Factory 1, Pre-treatment Workshop 2, and Raw Material Storage 3, along with eight auxiliary buildings [2] Group 3 - Since the project's launch, multiple construction milestones have been successfully achieved, with all three main buildings completed and finishing touches on decoration and renovation underway [3] - The successful installation of production equipment marks a critical milestone, bringing the project closer to completion and production [3] - Once phase one is completed, the production base will have the capacity to produce 4 million kilograms of processed medicinal materials annually, enhancing the company's processing capabilities and supply capacity [3]

Core Viewpoint - Tongrentang Technology reported a revenue of 7.26 billion and a net profit of 0.887 billion for the fiscal year 2024, demonstrating resilience in a challenging pharmaceutical market environment [1] Group 1: Financial Performance - The company achieved a revenue of 7.26 billion and a net profit of 0.887 billion during the reporting period [1] - Despite challenges such as rising raw material prices and decreased foot traffic in stores, the company improved its overall operational quality [1] Group 2: Innovation and R&D - Tongrentang Technology increased its investment in research and development, accelerating the development of innovative drugs and classic formulas [2] - The company received clinical trial approval for Qishen Granules, marking its first clinical approval for a traditional Chinese medicine in eight years [2] - Several products underwent pharmacological mechanism studies, enhancing their market competitiveness and clinical recognition [2] Group 3: Market Strategy and Product Expansion - In response to external challenges, the company adjusted its market strategy, focusing on channel management, price stability, and terminal empowerment [3] - The company launched promotional activities for its "Yuyao 300" product line, resulting in nine products exceeding 0.1 billion in sales [3] Group 4: Channel Development - Tongrentang Technology strengthened its partnerships with major distributors and conducted over 450 promotional events in previously untapped markets [4] - The company aimed to enhance product distribution rates and terminal effectiveness through targeted market strategies [4] Group 5: Risk Management and Future Plans - The company plans to enhance its governance and core competitiveness to address risks and challenges [5] - Future initiatives include a new round of collaborative innovation in traditional Chinese medicine, aiming to complete clinical research on five products by 2025 [5]

Core Viewpoint - The Chinese medicine industry is poised for high-quality development driven by government policies, with Tong Ren Tang Technology (01666.HK) positioned to benefit from this trend through its comprehensive capabilities and strategic alignment with policy directions [1][5]. Financial Performance - In 2024, Tong Ren Tang Technology achieved revenue of 7.26 billion RMB, a year-on-year increase of 7.18%, and a net profit of 888 million RMB, with a return to shareholders of 0.18 RMB per share [2]. - Despite facing cost pressures, the company maintained stable revenue performance, leveraging its full industry chain advantages and refined management to control procurement costs [2][3]. - The company reported 56 products with sales exceeding 5 million RMB, including 9 products with sales over 100 million RMB, indicating robust growth in core products [3]. Market Opportunities - The government’s support for traditional Chinese medicine and consumption policies creates favorable conditions for market expansion of core products like An Gong Niu Huang Wan and Gan Mao Qing Re Granules [6]. - The adjustment of the medical insurance catalog in 2024 is expected to favor innovative Chinese medicine products, potentially leading to revenue recovery for the company [6]. Competitive Strengths - Tong Ren Tang Technology's competitive edge lies in its full industry chain, covering everything from raw material cultivation to terminal services, ensuring stable supply and quality [7]. - The company is actively promoting product innovation and has received approval for its innovative drug Qi Shen Granules, which is set to enter clinical trials [8]. - The company has been recognized for its research achievements, winning the 2024 Beijing Science and Technology Progress Award, showcasing its strong R&D capabilities [8]. Cost Dynamics - The company has faced pressure from rising raw material costs, but a recent decline in Chinese medicinal material prices is expected to improve profitability [10]. - The overall cost pressure on downstream Chinese medicine companies is anticipated to decrease, allowing for improved margins [10]. Long-term Growth Potential - The company is positioned for value growth through policy-driven short-term performance recovery, industry chain advantages, and international market expansion [11]. - With a dynamic P/E ratio of approximately 9 times, the company is expected to maintain a valuation premium due to its brand value and market competitiveness [11].

免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 北京同仁堂科技發展股份有限公司 | | 股份代號 | 01666 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二四年十二月三十一日止年度之末期股息 | | 公告日期 | 2025年3月28日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.18 RMB | | 股東批准日期 | 有待公佈 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 有待公佈 | | 匯率 | 有待公佈 | | 除淨日 | 有待公佈 | | 為 ...