Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 41,249 million, a decrease of 5.8% from RMB 43,811 million in 2022[4] - Gross profit for the same period was RMB 19,653 million, resulting in a gross margin of 47.64%, compared to 47.12% in the previous year[4] - Operating profit fell to RMB 1,100 million, down 66.2% from RMB 3,253 million in 2022[4] - Net profit attributable to shareholders was RMB 2,399 million, a decline of 35.9% from RMB 3,737 million in the prior year[4] - Basic and diluted earnings per share decreased to RMB 0.90, down from RMB 1.43 in 2022[5] - The company reported a total comprehensive income of RMB 2,939 million, down from RMB 4,061 million in 2022[6] - The company recorded a net profit of RMB 2,907,404 for the year, down from RMB 3,953,634 in 2022, a decline of about 26.5%[30] - The total tax expense for the year was RMB 369,504 thousand, down from RMB 626,918 thousand in 2022, representing a decrease of about 41.1%[52] - The proposed final dividend per ordinary share is RMB 0.27, a reduction from RMB 0.42 in 2022, with total proposed dividends amounting to RMB 721,548 thousand compared to RMB 1,122,306 thousand in the previous year[53] Assets and Liabilities - Total assets increased to RMB 113,431 million, up from RMB 107,113 million in 2022[4] - Total liabilities rose to RMB 56,853 million, compared to RMB 53,055 million in the previous year[4] - Non-current assets increased to RMB 79,638 million, compared to RMB 71,834 million in the previous year[8] - The total assets of the company amounted to RMB 113,431,227, with total liabilities of RMB 56,853,342, resulting in a net asset position[27] Research and Development - Research and development expenses were RMB 4,346 million, slightly up from RMB 4,302 million in 2022[5] - The company’s R&D investment totaled RMB 5,937 million, an increase of 0.88% year-on-year, with R&D expenses at RMB 4,346 million, up 1.02%[67] - Research and development investment in the pharmaceutical business was RMB 5,172 million, an increase of 1.47% year-on-year, representing 17.19% of the pharmaceutical revenue[121] - The company is focusing on lean R&D and operational efficiency, integrating internal resources to enhance early-stage R&D and CMC capabilities[90] - The company is enhancing its R&D capabilities by recruiting senior scientists and upgrading its early-stage R&D and clinical operations[154] Market Performance - Revenue from external customers in mainland China was RMB 30,877,890, an increase from RMB 29,873,128 in 2022, reflecting a growth of about 3.4%[32] - The medical device segment generated revenue of RMB 30,080,246, while the pharmaceutical distribution segment contributed RMB 6,667,137[27] - The pharmaceutical business achieved revenue of RMB 30,080 million, a year-on-year decrease of 2.00%. Excluding COVID-19 related products, revenue grew by 13.47%[120] - The pharmaceutical distribution business saw revenue of RMB 441.05 billion, a year-on-year increase of 8.47%[200] Product Development and Approvals - The company received approvals for 8 indications for 6 innovative drugs during the reporting period, including the PD-1 inhibitor Hanshuan, which became the first of its kind approved for extensive-stage small cell lung cancer in China[71] - The company received exclusive commercialization approval for four products in China, including the first domestically developed potassium competitive acid blocker, which is expected to reduce patient medication burden significantly[72] - The company has advanced its pipeline with five products entering the pre-market approval stage, including a PD-1 inhibitor for non-small cell lung cancer, with applications accepted by both the EU and China[75] - The company has received regulatory approval for its PD-1 inhibitor in multiple markets, including the U.S. and Europe, enhancing its competitive position[112] Strategic Initiatives - The company plans to establish a private equity investment fund in Shenzhen, aiming to raise RMB 5 billion, with the company and its subsidiaries contributing RMB 1,500 million in total[62] - The company is expanding its market presence in Africa, with a distribution network covering over 40 countries and a local manufacturing facility under construction in Côte d'Ivoire[80] - The company is actively pursuing new strategies for market expansion and has plans for potential acquisitions to enhance its product portfolio[113] - The company is exploring strategic partnerships to enhance its distribution capabilities and broaden its product reach[115] Operational Efficiency - The company is actively exiting non-core assets to optimize asset structure and enhance asset efficiency, while strengthening budget and supply chain management to ensure healthy free cash flow[92] - The company launched a Supplier Relationship Management (SRM) system to enhance procurement management and decision-making efficiency, achieving a closed-loop management process for procurement[97] - The company is committed to ongoing research and development to innovate and expand its therapeutic offerings in the pharmaceutical market[31] International Expansion - The company established a presence in the U.S. market with a self-operated generic drug team, collaborating with five major distributors and 16 procurement organizations to enhance product sales[79] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[103] - The company is exploring partnerships for market expansion in emerging markets[117] Clinical Trials and Innovations - The company has initiated Phase III clinical trials for several innovative products, including FS-1502 for HER2-positive breast cancer and HLX208 for BRAF V600E mutation-related diseases[145] - The company has received clinical trial approval for "HLX 60 (recombinant anti-GARP humanized monoclonal antibody injection)" for solid tumors and lymphomas in China[167] - The company is in the process of conducting Phase I clinical trials for "HLX 53 (anti-TIGIT Fc fusion protein)" for solid tumors and lymphomas[167]

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，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 2023年第三季度報告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09 (2)條及第13.10B條以及證券及 期貨條例（ 香港法例第571章）第XIVA部之內幕消息條文而作出。 下文為上海復星醫藥（ 集團 ）股份有限公司（「本公司」，連同其附屬公司，統稱「本集團」）截 至2023年9月30日止三個月（「報告期」、「本報告期」）之2023年第三季度報告（「2023年第三季 度報告」）。該財務報告乃按照中國企業會計準則編製，且未經審計。 承董事會命 上海復星醫藥（集團）股份有限公司 董事長 吳以芳 中華人民共和國，上海 2023年10月30日 於本公告日期，本公司之執行 ...

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of RMB 21,316 million, a year-on-year increase of 0.16%[9]. - Gross profit for the same period was RMB 10,617 million, with a gross margin of 49.81%, up from 45.60% in 2022[7]. - The net profit attributable to shareholders was RMB 1,784 million, representing a year-on-year growth of 15.69%[10]. - The company achieved an EBITDA of RMB 4,792 million, compared to RMB 3,862 million in the previous year[7]. - The company achieved operating revenue of RMB 21,316 million for the first half of 2023, a year-on-year increase of 0.16%[50]. - The net profit for the reporting period was RMB 2,051 million, reflecting a 10.92% increase from RMB 1,849 million in 2022, with a net profit margin of 9.62%[24]. - Profit attributable to equity holders of the parent company was RMB 1,784 million, a 15.69% increase year-on-year, despite a decrease in operating profit[25]. - The company reported a net profit of RMB 476 million from Chongqing Yaoyou, with total revenue of RMB 2,974 million[183]. Research and Development - Research and development expenses totaled RMB 2,884 million, reflecting a year-on-year increase of 19.77%[11]. - Research and development investment totaled RMB 2,884 million, a year-on-year increase of 19.77%, with R&D expenses at RMB 2,134 million, up 16.80%[21]. - Total R&D investment for the period reached RMB 2,884 million, accounting for 13.48% of operating revenue[172]. - Pharmaceutical business R&D investment was RMB 2,519 million, a year-on-year increase of RMB 457 million, or 22.16%, representing 15.82% of pharmaceutical revenue[172]. - The company is continuously optimizing its R&D system, focusing on small molecules, antibodies/ADC, RNA, and cell therapy platforms[107]. - The establishment of a Scientific Advisory Board aims to optimize mid- to long-term innovation and R&D strategies, with the first meeting held in June 2023[116]. - The company is actively promoting incremental products to quickly enter the market through centralized procurement routes, effectively smoothing the impact of centralized procurement on existing products[140]. Product Development and Approvals - The company launched five innovative drugs and ten generic drugs during the reporting period[57]. - The company has received multiple approvals for its innovative drugs, indicating a strong pipeline and commitment to research and development[80]. - The company has seven IND approvals, including FCN-159 for pediatric Langerhans cell histiocytosis and FCN-338 for myeloid malignancies[79]. - The company’s product, Sru Li San Injection (PD-1 inhibitor), received marketing authorization for first-line treatment of extensive-stage small cell lung cancer (ES-SCLC) in March 2023[80]. - The company’s innovative drug, Tenapanor, for treating constipation-predominant irritable bowel syndrome, had its market application accepted in Hong Kong in March 2023[80]. - The company has established a dedicated marketing team of approximately 500 people covering nearly 1,500 hospitals for Hanshuang[100]. - The company is expanding its market presence with its products approved in approximately 40 countries and regions[82]. Market Performance - The pharmaceutical segment generated revenue of RMB 15,921 million, a year-on-year increase of 11.56%[14]. - Revenue from the pharmaceutical segment was RMB 15,921 million, accounting for 74.69% of total revenue, with a year-on-year increase of 11.56%[56]. - Revenue from medical devices and diagnostics decreased by 45.11% year-on-year to RMB 2,215 million[56]. - The medical device and diagnostics segment reported revenue of RMB 2,215 million, a year-on-year decrease of 45.11%[147]. - The medical health services segment achieved revenue of RMB 3,127 million, representing a year-on-year growth of 7.20%[154]. - The company achieved a revenue of RMB 300,950 million, a year-on-year increase of 15.10%, and a net profit of RMB 6,893 million, up 10.67%[160]. Expenses and Financial Ratios - Sales and distribution expenses amounted to RMB 5,071 million, representing a year-on-year increase of 21.46% from RMB 4,175 million, with a sales expense ratio of 23.79%, up 4.17 percentage points year-on-year[17]. - Administrative expenses increased by 22.13% year-on-year to RMB 2,103 million, primarily due to rising labor costs and expenses related to new acquisitions[18]. - The company’s operating profit margin decreased to 6.14% from 9.30% in the previous year[7]. - Total debt as of June 30, 2023, was RMB 32,566 million, an increase from RMB 29,116 million as of December 31, 2022, with a debt-to-asset ratio of 29.05%[28]. - The total debt to total assets ratio as of the end of the reporting period is 29.05%, up from 27.18% as of December 31, 2022[198]. Compliance and ESG Initiatives - The company has implemented a strict compliance management system for marketing activities, ensuring adherence to regulations across various departments[70]. - The company has launched an "ESG Culture Month" initiative to enhance employee understanding of compliance and risk management[72]. - The company maintained an MSCI ESG rating of A and a Hang Seng ESG rating of A–, ranking in the top tier of the healthcare industry for pharmaceuticals and biotechnology[199]. - The company has established an EHS (Environmental Health and Safety) committee and team to optimize EHS management across five dimensions: environmental protection, safety, fire prevention, occupational health, and EHS management systems[199]. - The company has increased its investment in environmental protection, focusing on air pollution control, energy conservation, and biodiversity protection during the reporting period[199]. Strategic Partnerships and Market Expansion - The group has formed a partnership with Boston Oncology to grant exclusive development and commercialization rights for rituximab injection in 16 emerging markets in Asia and Africa[65]. - The group is expanding its market presence in Africa, with a sales network covering over 40 countries and regions, and has initiated the construction of a local drug manufacturing and supply facility in Côte d'Ivoire[65]. - The company has established a partnership with the International Finance Corporation (IFC) for a loan agreement totaling €50 million to support its pharmaceutical production base in Côte d'Ivoire[162].

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，概不對因本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。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 截至2023年6月30日止六個月之中期業績公告 本公司董事會欣然公佈本集團截至2023年6月30日止六個月之未經審核中期業績。 ...

Financial Performance - The group's operating revenue for Q1 2023 was RMB 10,870,720,838.66, representing a year-on-year increase of 4.68%[3]. - Net profit attributable to shareholders of the listed company reached RMB 986,971,662.49, a significant increase of 116.17% compared to the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 919,320,722.64, reflecting a growth of 14.78% year-on-year[3]. - The basic earnings per share for the period was RMB 0.37, up 105.56% from the previous year[3][7]. - The company reported a total comprehensive income of RMB 930,767,631.49 for Q1 2023, compared to RMB 365,586,120.33 in Q1 2022, marking an increase of approximately 154.1%[21]. - The net profit for Q1 2023 reached RMB 1,114,254,110.16, compared to RMB 634,163,794.28 in Q1 2022, indicating a significant increase of approximately 75.5%[20]. - The company's non-recurring gains and losses for the period were RMB 68 million, an increase of RMB 412 million compared to the previous year, leading to a net profit increase of 116.17% year-on-year[11]. - The total operating revenue for Q1 2023 was RMB 10,870,720,838.66, an increase from RMB 10,384,857,441.74 in Q1 2022, representing a growth of approximately 4.67%[20]. Assets and Liabilities - The total assets of the group at the end of the reporting period were RMB 107,379,375,391.79, showing a slight increase of 0.20% compared to the end of the previous year[4]. - The total assets as of March 31, 2023, amounted to RMB 48,476,339,825.05, a decrease from RMB 49,535,569,590.56 at the end of 2022[25]. - Total liabilities decreased to RMB 14,007,704,743.99 from RMB 15,300,001,896.39 at the end of 2022, reflecting a reduction of approximately 8.4%[25]. - The company's equity attributable to shareholders rose to RMB 45.39 billion from RMB 44.58 billion, showing a positive trend in retained earnings[19]. - Current assets totaled ¥35.18 billion, down from ¥35.28 billion in the previous quarter, primarily due to a decrease in cash and cash equivalents[18]. - The total amount of accounts receivable increased to ¥7.83 billion from ¥7.59 billion, indicating growth in sales or credit terms[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 326,179[8]. - Shanghai Fosun High Technology (Group) Co., Ltd. holds 885,595,955 shares, accounting for 33.14% of the total shares[8]. - HKSCC Nominees Limited holds 551,358,830 shares, representing 20.63% of the total shares[8]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder holding over 33%[9]. - The report indicates that there are no known related party transactions among the top shareholders[10]. Cash Flow - The group reported a net cash flow from operating activities of RMB 873,244,036.36, reflecting a year-on-year increase of 2.06%[3]. - The cash flow from operating activities was RMB 11,865,511,092.17, compared to RMB 11,339,963,678.13 in Q1 2022, marking an increase of about 4.6%[23]. - The cash inflow from operating activities for Q1 2023 was CNY 371,357,088.18, a recovery from a negative cash flow of CNY 464,722,394.46 in Q1 2022[28]. - The net cash flow from financing activities was RMB 281,971,154.45, down from RMB 1,553,311,047.09 in Q1 2022, indicating a significant decline of approximately 81.8%[24]. - Cash and cash equivalents at the end of Q1 2023 were RMB 12,120,741,361.41, up from RMB 7,351,903,309.40 in Q1 2022, showing an increase of approximately 64.5%[24]. Research and Development - Research and development expenses in Q1 2023 amounted to RMB 968,872,153.04, up from RMB 809,679,912.31 in Q1 2022, reflecting a growth of about 19.6%[20]. - The company launched its first innovative drug, Hanshuan (Sru Li monoclonal antibody injection), for the treatment of extensive-stage small cell lung cancer (ES-SCLC) during the reporting period[12]. - The company’s product, Hanquyou (injection trastuzumab), received acceptance for its BLA application by the FDA, potentially becoming the first domestically produced biosimilar approved in China, the EU, and the US[13]. Strategic Developments - The subsidiary Gland Pharma Limited completed the acquisition of European CDMO company Cenexi, enhancing its strategic layout in the European market[15]. - The company’s subsidiary Sisram plans to acquire the "Photon" brand and channels to strengthen its direct sales in the Chinese medical aesthetics market[15]. - The company received a drug production license for its subsidiary, laying the foundation for the commercialization of its vaccine products[14]. - The company fully repurchased and canceled RMB 1.6 billion of its publicly issued corporate bonds in early 2023[16].

Financial Performance - The company's revenue for 2022 reached RMB 43,811 million, representing a year-on-year increase of 12.73%[10] - Gross profit for 2022 was RMB 20,642 million, with a gross margin of 47.12%[10] - Net profit attributable to shareholders for 2022 was RMB 3,737 million, down from RMB 4,729 million in 2021, reflecting a net profit margin of 9.02%[10] - The company generated a net cash flow from operating activities of RMB 4,218 million, up 7.1% compared to the previous year[14] - The company achieved a revenue of RMB 43,811 million in the reporting period, representing a growth of 12.73% compared to 2021[31] - The net profit attributable to shareholders decreased by 20.98% to RMB 3,737 million, primarily due to losses from changes in the fair value of financial assets[31][42] - The company’s cash flow from operating activities increased by 7.10% to RMB 4,218 million, driven by revenue growth[31] - The gross profit margin decreased by 0.83 percentage points to 47.12%, with gross profit amounting to RMB 20,642 million, up from RMB 18,634 million in 2021[35] - The company’s total debt as of December 31, 2022, was RMB 29,116 million, an increase from RMB 24,509 million in 2021, with long-term debt accounting for 41.56% of total debt[43] - The company’s cash and bank balances rose by 57.42% to RMB 16,241 million as of December 31, 2022, compared to RMB 10,317 million in 2021[43] Research and Development - Research and development expenses totaled RMB 4,302 million in 2022, an increase of 12.12% year-on-year[15] - Research and development investment totaled RMB 5,885 million, an increase of 18.22% year-on-year, with R&D costs specifically rising by 12.12% to RMB 4,302 million[37] - R&D investment in the pharmaceutical business was RMB 5,097 million, a year-on-year increase of 13.62%, accounting for 16.54% of pharmaceutical revenue[93] - The company is focusing on the development of complex generics and first generics within the mature products and manufacturing division[90] - The group has over 260 projects in research, including innovative drugs, biosimilars, and generics, with 249 patent applications filed during the reporting period, including 16 in the US and 17 PCT applications[125] - The group has established an innovative drug division, enhancing early research and clinical capabilities, and is focusing on core therapeutic areas such as oncology and immunology, with a strong emphasis on small molecules and antibody platforms[124] Product Development and Innovation - The group has received approvals for 6 self-developed innovative drugs, 4 licensed innovative drugs, and 27 generic drugs in China, Hong Kong, and the USA during the reporting period[16] - The first self-developed biological innovative drug, Hanshuang (Sruvulizumab injection), has been approved for three indications, including MSI-H solid tumors and squamous non-small cell lung cancer (sqNSCLC)[17] - The group has initiated commercialization preparations for Hanshuang in the US market, establishing a dedicated team and partnering with Syneos Health for comprehensive support[20] - The group has entered into exclusive commercialization agreements for two innovative drugs in China with Amgen's subsidiary, enhancing its market presence[21] - The company has launched innovative products such as Hanlikang, Hanquyou, and Hanszhuang, contributing to the growth of the oncology team[148] - The innovative PD-1 inhibitor 汉斯状 (sruvilumab injection) has received approval for three indications, including extensive-stage small cell lung cancer (ES-SCLC), marking it as the first PD-1 monoclonal antibody approved for first-line treatment of ES-SCLC globally[105] Market Expansion and Strategy - The company plans to enhance its internationalization strategy and focus on integrated operations to improve efficiency and drive growth[12] - The company aims to leverage online medical services as a new growth driver, anticipating a trend towards integrated online and offline healthcare services[12] - The company plans to accelerate innovation and expand into international markets, focusing on unmet medical needs[27] - The company is focusing on international expansion and enhancing its marketing capabilities to strengthen its competitive edge[176] - The company has established deep cooperation with Syneos Health to support the commercialization of Hansun in the US[88] - The company has entered into collaborations for multiple overseas innovative products, including immunosuppressant Grafalon and dual-function HER2-sialidase fusion protein[89] Operational Efficiency - The group has launched a digital management platform to enhance operational efficiency, integrating various data sources for better decision-making[24] - The restructuring of the pharmaceutical business into specialized divisions aims to enhance operational efficiency and focus on innovation[23] - The company has implemented a quality risk management system across all domestic pharmaceutical subsidiaries, achieving GMP certification for all production lines[154] - The company is enhancing operational efficiency by integrating bacterial and viral vaccine technology platforms within the vaccine division[90] - The company has established a comprehensive healthcare service platform integrating general and specialized hospitals, providing one-stop health management services[67] Financial Health and Investments - The company plans to invest up to €210 million to acquire the European CDMO company Cenexi, aiming to establish localized manufacturing capabilities in Europe[21] - The company raised RMB 4.48 billion through a private placement of 106,756,666 A-shares, aimed at funding innovative drug clinical trials and working capital[175] - The company has unutilized bank credit facilities totaling RMB 29,030 million as of December 31, 2022[54] - The company has signed but unprovided capital commitments of approximately RMB 1,719 million as of December 31, 2022[60] Sales and Marketing - Direct sales revenue from Sisram Medical increased to 66% in 2022, reflecting a strong focus on direct-to-consumer business[20] - The pharmaceutical business accounted for approximately 70% of total revenue during the reporting period, focusing on innovative drugs and vaccines[67] - The company has developed a new retail team for OTC and online channels to enhance market reach[148] - The marketing system has been strengthened and integrated, resulting in a professional, brand-oriented, digital, and compliant marketing system[148] - The company is focusing on the launch of innovative products and internationalization, with dedicated teams for oncology and non-oncology drugs[148] Healthcare Services - The healthcare services segment reported revenue of RMB 6,076 million, a year-on-year increase of 47.65%, with a same-caliber growth of 33.56% after excluding the impact of newly acquired hospitals[163] - The online consultation and online medication purchasing have become new trends in healthcare service delivery, prompting the company to explore integrated online and offline service models[163] - The company has obtained licenses for 10 internet hospitals and has a total of 6,333 licensed beds across its controlled hospitals[164] - The company launched several new medical facilities, including women's and children's medical centers, and implemented a new generation of smart medical cloud platforms[166] - The company is focusing on specialized medical fields, creating digital specialty centers, and enhancing its medical ecosystem through innovative models[168] Clinical Trials and Approvals - The company has initiated clinical trials for new treatments, including Tenapanor for IBS-C, which is in Phase I in mainland China and has submitted a marketing application in Hong Kong and Macau[140] - The company is advancing multiple clinical trials for various innovative drugs, including HLX26 and HLX22, targeting solid tumors and gastric cancer[133] - The company has received clinical trial approvals for several drugs in the US, including for non-small cell lung cancer and advanced solid tumors[130] - The company is focusing on expanding its oncology pipeline with several drugs in different stages of clinical trials, enhancing its market position[135]

Financial Performance - Revenue for 2022 was RMB 43,811 million, an increase of 12.5% from RMB 38,864 million in 2021[1]. - Gross profit reached RMB 20,642 million, up from RMB 18,634 million, resulting in a gross margin of 47.12%[2]. - Operating profit increased to RMB 3,253 million, compared to RMB 2,382 million in the previous year[1]. - Net profit attributable to shareholders was RMB 3,737 million, down from RMB 4,729 million, reflecting a net profit margin of 9.02%[1]. - Total assets rose to RMB 107,113 million, up from RMB 93,249 million, while total liabilities increased to RMB 53,055 million from RMB 44,927 million[1]. - Basic and diluted earnings per share decreased to RMB 1.43 from RMB 1.85 in 2021[2]. - The company reported a pre-tax profit of RMB 4,581 million, down from RMB 6,043 million in 2021[2]. - The total comprehensive income attributable to the parent company was RMB 4,632,088 after adjustments of RMB 11,169[19]. - The total profit for the year was RMB 4,976,269 thousand, compared to a loss of RMB 247,388 thousand in the previous year[25]. - The total tax expense for the year was RMB 626,918 thousand, down from RMB 1,066,401 thousand in 2021[40]. Assets and Liabilities - Total assets rose to RMB 107,113 million, up from RMB 93,249 million, while total liabilities increased to RMB 53,055 million from RMB 44,927 million[1]. - Non-current liabilities increased to RMB 19,756 million from RMB 15,608 million, with interest-bearing loans rising to RMB 12,099 million[6]. - The total equity attributable to shareholders increased to RMB 44,532 million from RMB 39,139 million[7]. - The company’s total liabilities amounted to RMB 44,926,752 thousand, with total assets of RMB 93,249,434 thousand[25]. - The total cash dividend proposed is based on the total number of ordinary shares of 2,672,156,611 as of March 27, 2023[41]. Revenue Segmentation - The pharmaceutical segment generated revenue of RMB 30,693,258, while the medical devices and diagnostics segment reported RMB 6,932,915[23]. - Revenue from external customers in mainland China was RMB 29,873,128 thousand in 2022, up from RMB 25,265,165 thousand in 2021, indicating a growth of about 10.5%[26]. - Revenue from regions outside mainland China was RMB 13,938 million, with a gross margin of 37.68%, a decrease of 1.04 percentage points year-over-year[113]. - The pharmaceutical segment accounted for approximately 70% of total revenue, with a revenue of RMB 30,693 million[52]. - The medical device and diagnostics segments generated revenues of RMB 6,933 million and RMB 6,076 million, respectively, with growth rates of 16.97% and 47.65% year-on-year[52]. Research and Development - R&D investment totaled RMB 5,885 million, reflecting an 18.22% increase compared to the previous year[51]. - Research and development expenses for 2022 amounted to RMB 3,917,116 thousand, compared to RMB 3,648,577 thousand in 2021, indicating an increase of approximately 7.4%[36]. - The company has over 260 projects in research and development, including innovative drugs, biosimilars, and generics, with 249 patent applications filed during the reporting period[84]. - The company is focusing on the development of first generics and complex formulations, enhancing operational efficiency through integration of vaccine technology platforms[64]. - The company is exploring advanced technologies such as RNA, targeted protein degradation, and AI-assisted therapies to enhance its R&D capabilities[84]. Market Expansion and Strategy - The company plans to continue expanding its product offerings and market presence, focusing on innovation and strategic acquisitions[23]. - The company is actively exploring an integrated online and offline service model in its healthcare services business, providing one-stop health services[64]. - The company is committed to expanding its market reach and improving patient outcomes through innovative treatment options[58]. - The company aims to enhance its market presence through strategic partnerships and the introduction of new therapies[59]. - The company is focused on optimizing R&D efficiency and accelerating clinical progress and product launch timelines[63]. Regulatory Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and are presented in Renminbi, rounded to the nearest thousand[8]. - The company is committed to improving its corporate governance structure and internal management[168]. - The board of directors consists of four executive directors, exceeding the number of non-executive directors, ensuring adequate checks and balances[169]. - The company is committed to maintaining compliance with the latest regulatory standards, ensuring transparency and governance in its operations[176]. - The company has adopted a standard code of conduct for securities trading, confirming that all directors complied with the code during the reporting period[169]. Acquisitions and Investments - The company acquired 87% of Shanghai Xingchuang Health Technology Co., Ltd. for RMB 4,000,000 in March 2022[17]. - The company also acquired 56.66% of Shanghai Fuyun Health Technology Co., Ltd. for RMB 17,000,000 in September 2022[17]. - Gland Pharma plans to invest up to €210 million to acquire European CDMO company Cenexi, enhancing localized manufacturing capabilities in Europe[62]. - The company plans to invest up to €210 million to acquire the European CDMO company Cenexi, enhancing its localized manufacturing capabilities in Europe[81]. - The company is exploring potential acquisitions to enhance its product portfolio, targeting a completion date by the end of Q4 2024[178]. Employee and Operational Efficiency - The company has established a commercial team of over 7,100 people, enhancing its marketing system to support existing and upcoming products[109]. - The company has a total of 63 innovative drugs in development, including 17 self-researched small molecule innovative drugs[85]. - The company has 25 products that have passed or are considered to have passed the consistency evaluation for biosimilars[91]. - The company is focusing on chronic conditions such as hypertension, diabetes, and mental health disorders, which are prevalent in the market[93]. - The company is committed to digital and intelligent transformation to enhance operational efficiency and supply chain management[137]. Challenges and Risks - The company faces internationalization risks, including unfamiliarity with overseas regulations and market environments, which may impact operational and management capabilities[152]. - The company acknowledges potential risks from mergers and acquisitions, including legal and operational challenges that may affect performance if synergies are not realized[153]. - The group anticipates intensified competition in the generic drug market due to price management policies and the entry of more Indian generic drug companies in emerging markets[147]. - The company is committed to enhancing environmental protection measures and ensuring compliance with environmental regulations to mitigate risks associated with production and waste management[151]. - The company will closely monitor industry policy trends to mitigate operational risks arising from policy changes[147].

Financial Performance - The company reported revenue of RMB 21,275 million for the six months ended June 30, 2022, representing a year-on-year increase of 26.05%[11]. - Gross profit for the same period was RMB 9,699 million, with a gross margin of 45.59%[11]. - Operating profit increased to RMB 1,999 million, up RMB 656 million from the previous year, resulting in an operating margin of 9.40%[11]. - Net profit attributable to shareholders was RMB 1,554 million, a decrease of 37.39% year-on-year, with earnings per share of RMB 0.60, down 38.14%[11][13]. - Cash flow from operating activities was RMB 1,820 million, reflecting a year-on-year growth of 6.66%[13]. - The company achieved a revenue of RMB 21,275 million, representing a year-on-year growth of 26.05%[14]. - The pharmaceutical business generated revenue of RMB 14,271 million, with a year-on-year increase of 17.18%[14]. - The gross profit was RMB 9,699 million, up 12.50% from RMB 8,621 million in the same period last year, resulting in a gross margin of 45.59%, down 5.49 percentage points[17]. - The company's net profit attributable to shareholders was RMB 1,554 million, a decrease of 37.39% compared to the previous year[23]. - The company reported a capital expenditure of RMB 2,174 million during the reporting period[37]. Research and Development - The company invested RMB 2,399 million in research and development during the reporting period, an increase of 22.77% year-on-year[13]. - Research and development expenses totaled RMB 1,818 million, an increase of 16.39% year-on-year, with R&D investment in the pharmaceutical sector at RMB 2,062 million, accounting for 14.39% of pharmaceutical revenue[19]. - The R&D investment in innovative drugs and biopharmaceuticals has been prioritized, leading to increased spending on innovation incubation platforms[103]. - The company has over 2,800 R&D personnel, with more than 1,500 holding master's degrees or higher[98]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 98,754 million, compared to RMB 93,237 million at the end of 2021[11]. - The company's total liabilities were RMB 51,070 million, up from RMB 44,918 million in the previous year[11]. - The asset-liability ratio increased to 51.71% from 48.18% year-on-year[11]. - Total debt as of June 30, 2022, was RMB 30,461 million, an increase from RMB 25,299 million at the end of 2021, with long-term debt accounting for 41.76% of total debt[24]. - The debt-to-asset ratio rose to 30.85% from 27.13% at the end of 2021[27]. - Cash and bank balances increased by 18.92% to RMB 12,258 million compared to RMB 10,308 million at the end of 2021[24]. Market and Product Development - The company continues to focus on new product development and effective marketing cost control to sustain revenue growth[13]. - The company has signed but not yet provided for capital commitments amounting to RMB 5,416 million[37]. - The company has received regulatory approval for two innovative drugs and ten generic drugs in China and the US during the reporting period[45]. - The company has established a global commercialization team of over 1,400 people, enhancing market access capabilities in the US, Africa, and Hong Kong[51]. - The company has upgraded its pharmaceutical business into three divisions: innovative drugs, mature products and manufacturing, and vaccines, to strengthen focus[51]. Clinical Trials and Approvals - The company initiated Phase II clinical trials for FS-1502 in non-small cell lung cancer (NSCLC) and received approval for multiple other clinical trials in various indications[45]. - The CAR-T cell therapy product FKC889 has been approved for clinical trials in China for treating relapsed or refractory mantle cell lymphoma (r/r MCL)[45]. - The company is advancing multiple products in clinical trials, including SAF-189 for ALK-positive non-small cell lung cancer in Phase III trials[73]. - The company has received clinical trial approval for HLX60 in Australia for advanced/metastatic solid tumors in combination with Hanshuang[77]. Strategic Partnerships and Collaborations - The company has entered into strategic collaborations for the exclusive commercialization of two innovative drugs in mainland China, enhancing its product portfolio in non-oncology areas[51]. - The strategic partnership for the joint development and exclusive commercialization of Azvudine was established in July 2022, with Azvudine being the first oral COVID-19 drug approved in China[63]. - The company has established exclusive commercialization agreements for innovative drugs with Amgen for Otezla and Parsabiv in mainland China, enhancing its product portfolio in the non-oncology sector[64]. Financial Management and Governance - The company issued RMB 5 billion in medium-term notes and secured a sustainable syndicated loan of USD 400 million during the reporting period[97]. - A non-public offering of A-shares raised RMB 4.484 billion, aimed at funding innovative drug clinical trials and enhancing financial structure[97]. - The company maintained compliance with all applicable corporate governance codes during the reporting period, except for a temporary deviation regarding the roles of the Chairman and CEO[162]. - The audit committee reviewed the interim results and financial reporting procedures, ensuring adequate risk management and internal control systems were in place[164]. Risks and Challenges - The pharmaceutical industry faces risks from national policies, including centralized procurement and price control measures, which may impact production costs and profitability[131]. - The company acknowledges the risks associated with mergers and acquisitions, including potential legal and operational challenges[139]. - The company is exposed to foreign exchange risks as its international operations expand and the proportion of foreign currency transactions increases[139]. - The group anticipates increased competition in the generic drug market due to tighter healthcare cost control policies and the implementation of centralized procurement[133].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 10.38 billion, representing a year-on-year increase of 28.87%[3] - Net profit attributable to shareholders of the listed company was CNY 462.51 million, a decrease of 45.41% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 800.95 million, an increase of 21.73% year-on-year[3] - Basic earnings per share were CNY 0.18, down 45.45% from the previous year[3] - The company reported a significant contribution to revenue growth from products such as mRNA COVID-19 vaccines and other pharmaceutical products[5] - The decline in net profit was attributed to a decrease in non-recurring gains, which fell by CNY 527 million year-on-year[5] - The total comprehensive income attributable to the parent company in Q1 2022 was RMB 275,402,324.32, compared to RMB 925,638,004.58 in Q1 2021, representing a decrease of approximately 70.3%[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 95.77 billion, an increase of 2.66% from the end of the previous year[3] - The equity attributable to shareholders of the listed company was CNY 38.33 billion, a decrease of 2.20% compared to the end of the previous year[3] - Total liabilities as of March 31, 2022, amounted to RMB 95,774,597,184.39, an increase from RMB 93,293,790,957.96 as of December 31, 2021[16] - Current liabilities totaled RMB 30,305,396,039.15 as of March 31, 2022, compared to RMB 29,309,945,287.65 at the end of 2021, indicating a growth of 3.4%[16] - Long-term borrowings increased to RMB 7,954,651,573.23 as of March 31, 2022, up from RMB 6,694,183,385.90 at the end of 2021, representing a rise of 18.8%[16] Cash Flow - The net cash flow from operating activities was CNY 865.59 million, reflecting a year-on-year increase of 17.49%[3] - In Q1 2022, the company reported a net cash flow from operating activities of RMB 865,594,441.10, an increase from RMB 736,760,723.49 in Q1 2021, representing a growth of approximately 17.5%[21] - The company recorded a net cash outflow from investing activities of RMB 1,469,727,633.77 in Q1 2022, compared to a net outflow of RMB 1,574,695,133.74 in Q1 2021, showing a decrease in cash outflow by approximately 6.7%[22] - The company’s net cash flow from financing activities in Q1 2022 was RMB 1,543,569,247.09, an increase from RMB 1,202,916,178.59 in Q1 2021, reflecting a growth of approximately 28.4%[22] Research and Development - Research and development expenses for Q1 2022 were RMB 805,341,078.97, compared to RMB 640,838,020.18 in Q1 2021, marking an increase of 25.7%[18] - The company’s innovative product development and commercialization efforts are ongoing, with the approval of Hanshuan (Surulitin) for clinical use in March 2022[10] - The CAR-T cell therapy product FKC 889 received approval for clinical trials in China for adult patients with relapsed or refractory mantle cell lymphoma[11] Market and Product Development - The company continued to supply the Comirnaty (mRNA COVID-19 vaccine) to Hong Kong, Macau, and Taiwan, with over 24 million doses administered by the end of March 2022[9] - The company received permission from the Medicines Patent Pool to produce and supply generic versions of Merck's and Pfizer's COVID-19 oral medications to low- and middle-income countries[9] - The company is actively advancing the development of innovative products and technologies while deepening its presence in overseas markets[9] Shareholder Information - The top shareholder, Shanghai Fosun High Technology (Group) Co., Ltd., holds 938,095,290 shares, accounting for 36.60% of total shares[6] - HKSCC Nominees Limited holds 551,359,832 shares, representing 21.51% of total shares[6] Financing Activities - The company completed the issuance of a medium-term note totaling RMB 500 million with an interest rate of 3.50% in March 2022[13] - The company issued a short-term financing bond totaling RMB 600 million with an interest rate of 2.65% in April 2022[13]