智通财经APP讯，雅各臣科研制药(02633)发布公告，于2024年2月19日，该公司与配售代理订立配售协议，公司委任配售代理按尽力基准且须满足配售协议的先决条件，按每股配售股份0.60港元的价格向不少于六名独立承配人(或公司与配售代理以书面协定的承配人数目)配售合共6600万股配售股份，每股配售股份的配售价为0.60港元，较2月19日收市价每股0.61港元折让约1.64%，假设配售股份获悉数配售，则最高数目的6600万股配售股份占公司经发行最高数目的配售股份扩大后已发行股本约3.30%。 假设配售股份获悉数分配，则配售所得款项总额将约为3960万港元，所得款项净额预期将约为3880万港元。公司拟动用该等所得款项净额，透过增强生产及包装流程自动化以扩大其生产能力。所得款项净额将主要用作翻新集团生产设施以及购置机器及设备的开支。 ...

Financial Performance - The company reported a significant increase in net profit by HKD 30.5 million or 20.7% to HKD 177.9 million, driven by strong sales and a one-time net gain from the distribution of shares [28]. - Operating profit increased by HKD 2.7 million or 1.7% to HKD 166.0 million, primarily due to increased sales, offset by a decrease in logistics service income and increased operating expenses [25]. - Revenue for the six months ended September 30, 2023, was HKD 714,918,000, an increase from HKD 581,891,000 in the same period of 2022, representing a growth of 22.8% [169]. - Total comprehensive income for the period was HKD 172,685,000, compared to HKD 114,148,000 in the previous year, showing an increase of 51.3% [169]. - Profit for the period increased by HKD 52.6 million or 42.0% after excluding one-time government subsidies [52]. - The group reported a significant increase in bank deposits and investment income, amounting to HKD 218,120,000, compared to HKD 3,287,000 in the previous year [188]. - The group’s profit for the period was HKD 714,918,000, with a reported profit from continuing operations of HKD 242,521,000, compared to HKD 235,462,000 in the prior year, reflecting a slight increase of 3.5% [188]. Cost and Expenses - Employee costs rose by HKD 11.3 million or 9.4%, reflecting the need to increase production to meet rising product demand and to attract and retain production staff [24]. - Sales costs increased by HKD 85.7 million or 26.1%, consistent with overall sales growth, with material costs comprising approximately 44% of total sales costs [44]. - Financing costs surged by HKD 27.9 million or 142.2% due to rising market interest rates during the reporting period [48]. - The total employee cost for the reporting period was HKD 215.4 million, an increase from HKD 182.0 million in the same period last year [19]. - The amortization of intangible assets and depreciation amounted to HKD 10,373,000 for the six months ended September 30, 2023, down from HKD 11,480,000 in the previous year [193]. Business Development and Strategy - The company aims to solidify its position as a leading supplier of essential and specialty drugs in Hong Kong and Asia, focusing on growth strategies [17]. - The company continues to invest in new product development and has engaged external experts to enhance overall R&D capabilities [63]. - The company has successfully integrated Arsenic Trioxide Oral Solution into the prescription list of a major hospital, marking a significant step in its market expansion strategy [14]. - The company is committed to enhancing its business infrastructure, including logistics and regulatory management, supported by an SAP system to improve supply chain efficiency [5]. - The group has successfully completed multiple acquisitions and continues to seek new acquisition opportunities while conducting thorough due diligence [85]. Cash Flow and Financial Position - The cash generated from operating activities for the six months ended September 30, 2023, was HKD 276,336 thousand, a decrease from HKD 307,987 thousand in the same period of 2022, representing a decline of approximately 10.3% [152]. - The total cash and cash equivalents decreased by HKD 411,225 thousand, compared to an increase of HKD 383,121 thousand in the same period of 2022 [152]. - As of September 30, 2023, the cash and cash equivalents amounted to HKD 871,048 thousand, down from HKD 860,409 thousand as of the same date in 2022 [152]. - The net cash used in investing activities for the six months ended September 30, 2023, was HKD 70,205 thousand, compared to a net cash used of HKD 11,467 thousand in the same period of 2022 [152]. - The group has a total of HKD 1,400,000,000 in syndicated loans, with an outstanding balance of HKD 872,000,000 as of the mid-term report date [91]. Regulatory and Compliance - The group has complied with all applicable laws and regulations during the reporting period, with no significant regulatory non-compliance issues [88]. - The company did not apply any new standards or interpretations that have not yet come into effect during the reporting period [156]. - The company’s actual tax rate is higher than the minimum tax rate specified in the OECD's Pillar Two framework, thus the recent tax amendments did not have a significant impact on the financial statements [158]. Shareholder Information - The board declared an interim dividend of HKD 0.025 per share for the six months ending September 30, 2023, totaling approximately HKD 48.4 million, compared to HKD 0.028 per share for the same period in 2022 [121]. - As of September 30, 2023, Mr. Chan holds 1,181,638,000 shares, representing approximately 61.09% of the company's issued share capital [124]. - The company has a significant shareholder structure, with Kingshill holding 850,684,000 shares, accounting for approximately 43.98% of the issued share capital [127]. - The company has not issued any stock options under its stock option plan since its inception, with a total of 37,000,000 options granted but none exercised as of September 30, 2023 [135]. Research and Development - The group has established a new research and development center in collaboration with a biological research institute, with an investment of HKD 5,882,000 [79]. - The company has revised its share award plan on September 21, 2023, to be funded solely by existing shares [139].

企業管治守則的守則條文第C.2.1條 規 定 主 席 與 行 政 總 裁 的 角 色 應 有 區 分，並 不 應 由 一 人 同 時 兼 任。主 席 與 行 政 總 裁 之 間 職 責 的 分 工 應 清 楚 界 定，並 以 書 面 形 式 列 載。 進行證券交易的標準守則 購 買、出 售 或 贖 回 上 市 證 券 審核委員會及本公司管理層亦已審閱截至二零二三年九月三十日止六個月的 中 期 業 績。 暫停辦理股東登記手續 | --- | --- | --- | --- | |-------|-------|-------|------------------------| | | | | | | | | | 承董事會命 | | | | | 雅各臣科研製藥有限公司 | | | | | 執行董事 | | | | | 嚴振亮 | 詞 彙 – 38 – 「健 倍 苗 苗 股 份」 指 健 倍 苗 苗 股 本 中 每 股 面 值0.01港元的普通股 「主 板」 指 聯 交 所 主 板 「私 營 界 別」 指 非 公 營 界 別 「研 發」 指 研 究 及 開 發 「聯 交 所」 指 香 港 聯 合 交 易 所 有 限 ...

Financial Performance - Total revenue for the fiscal year 2023 reached HKD 1,785,579,000, an increase of 11.9% compared to HKD 1,595,543,000 in the previous year[10] - Non-patent drug revenue grew by 6.4% to HKD 1,267,598,000 from HKD 1,191,360,000[10] - Brand healthcare product revenue surged by 28.2% to HKD 517,981,000 from HKD 404,183,000[10] - Gross profit increased by 20.4% to HKD 747,172,000, with a gross margin of 41.8%, up from 38.9%[10] - Profit attributable to equity holders rose by 41.3% to HKD 251,044,000, with a profit margin of 14.1%, compared to 11.1% in the previous year[10] - Adjusted EBITDA for the year was HKD 568,172,000, reflecting a growth of 28.7% from HKD 441,614,000[10] - The adjusted EBITDA margin improved to 31.8% from 27.7%[10] - Adjusted EBITDA for the fiscal year 2023 reached HKD 500,000,000, showing significant growth compared to previous years[22] - Profit attributable to equity holders for fiscal year 2023 was HKD 250,000,000, reflecting a positive trend[23] - The adjusted EBITDA grew by 28.7%, with the gross profit margin rising from 38.9% to 41.8%[53] - The company reported a total revenue of HKD 1,785.6 million for the fiscal year 2023, representing a 12% increase from HKD 1,595.5 million in the previous year[97] - Yearly profit surged by HKD 95.5 million or 50.9% to HKD 283.2 million, reflecting increased operating profit due to the gradual easing of social distancing and travel restrictions[121] Market and Product Development - The company is focusing on expanding its product pipeline, including the development of new specialty drugs and biosimilars to capture fast-growing markets[2] - The company aims to enhance its R&D capabilities and commercial networks to address unmet medical needs[14] - The company is actively exploring partnerships with local and overseas R&D institutions to develop innovative drug manufacturing technologies[2] - The company aims to enhance its R&D capabilities to develop more affordable complex generics, improving access to essential medicines[20] - The company is focusing on developing chronic disease and high-growth treatment areas to provide affordable healthcare solutions[44] - The company launched 22 new products during the reporting period, including Entecavir Tablet and Olmesartan Tablets[42] - The company plans to introduce a new oral anticoagulant and a novel echinocandin for treating invasive fungal infections, enhancing its product portfolio[89] - The company has successfully obtained exclusive licensing agreements for 53 high-efficiency specialty drugs across various therapeutic areas, including oncology and cardiovascular care[66] Operational Efficiency - Cash generated from operating activities was approximately HKD 677.7 million, supporting capacity-building investments and a proposed final dividend of HKD 0.0238 per share, a 33.5% increase from the previous year[53] - The production of liquid formulations increased by 43.1% to approximately 2 million liters, showcasing the company's ability to respond effectively to market needs[45] - The production of eye drop products grew by 18.1%, reaching over 48,000 liters, while solid oral dosage forms increased by 12.0%, totaling over 3.3 billion capsules and tablets[46] - The company is expanding production capabilities to meet growing market demand, focusing on modernizing equipment and optimizing processes[85] - The company has made significant progress in market access in the Greater Bay Area through strategic collaboration with the Hong Kong University Shenzhen Hospital[87] Financial Position - Total assets increased by 13.1% to HKD 5,380,499,000 as of March 31, 2023[26] - Total liabilities rose by 18.2% to HKD 2,123,977,000 as of March 31, 2023[26] - Total equity grew by 10.1% to HKD 3,256,522,000 as of March 31, 2023[26] - The company reported a cash balance of HKD 1,036.4 million at the end of the reporting period, maintaining a robust cash position[62] - The group's net capital debt ratio decreased from 29.2% as of March 31, 2022, to 15.6% as of March 31, 2023, primarily due to a net cash inflow from operating activities of HKD 677.7 million during the reporting period[141] - Bank loans increased by HKD 202.1 million or 15.1%, primarily due to the acquisition of a syndicated loan for refinancing existing floating-rate bank loans[126] Corporate Governance - The board consists of seven directors, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced composition[149] - The company has complied with all corporate governance code provisions during the reporting period, except for the separation of the roles of chairman and CEO, which is detailed in the report[146] - The board has established an independence assessment mechanism to ensure strong independent elements, allowing for effective independent judgment[140] - The board is committed to maintaining high standards of corporate governance and has adopted most best practices outlined in the corporate governance code[145] - The company has implemented a written guideline for employees regarding securities trading to ensure compliance with standards[147] Strategic Initiatives - The company has begun supplying a specialized drug to patients at the Hong Kong University Shenzhen Hospital after obtaining regulatory approval, with plans to expand coverage to 14 additional hospitals in the Greater Bay Area[68] - The launch of the e-Jacob Pharma2U digital platform is set for the second half of the year, aimed at enhancing customer service through digital transformation[69] - The company has entered into a strategic partnership with the University of Hong Kong-Shenzhen Hospital to expand into the Greater Bay Area market, which has shown a GDP growth of approximately 7.0% annually over the past decade[93] Employee and Operational Growth - The total number of employees increased to 1,789 as of March 31, 2023, up from 1,736 the previous year, indicating strategic business development and expansion[95] - Employee costs increased by HKD 47.3 million or 11.1%, reflecting the growth in production staff and salary adjustments to support sales growth[102]

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。 Pharma Corporation Jacobson Pharma Corporation Limited 雅 各 臣 科 研 製 藥 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:2633) 截至二零二三年三月三十一日止年度的 年度業績公告 財務摘要 • 截至二零二三年三月三十一日止財政年度的收益約為1,785.6百 萬 港 元, 較二零二二年同期約1,595.5百萬港元增加約11.9%。 • 同個財政年度經營溢利約為410.8百 萬 港 元,較 二 零 二 二 年 同 期 約260.9 百萬港元增加約57.5%。 • 年內溢利約為283.2百 萬 港 元,較 二 零 二 二 年 同 期 約187.7百萬港元增加 約50.9%。 • 董事會建議派付截至二零二三年三月三十一日止年度的末期股息每股 普通股2.38港 仙,總 額 約 ...

Financial Performance - Total revenue for the six months ended September 30, 2022, was HKD 817,353,000, representing an increase of 8.92% compared to HKD 750,413,000 for the same period in 2021[8]. - Revenue from proprietary drugs increased by 3.5% to HKD 581,891,000, while revenue from brand healthcare products surged by 25.09% to HKD 235,462,000[8]. - Gross profit for the period was HKD 340,429,000, reflecting a 24.77% increase from HKD 272,842,000 in the previous year, with a gross margin of 41.7%[8]. - Profit attributable to equity holders increased by 70.16% to HKD 136,192,000, with a profit margin of 16.7%[8]. - Adjusted EBITDA rose by 42.48% to HKD 290,457,000, with an adjusted EBITDA margin of 35.5%[8][9]. - Operating profit surged by HKD 84.1 million or 71.9% to HKD 201.0 million, attributed to increased sales demand and improved product mix[72]. - Net profit rose significantly by HKD 64.5 million or 77.8% to HKD 147.4 million, reflecting the increase in operating profit despite higher financing costs and taxes[78]. - Basic and diluted earnings per share rose to HKD 7.10, up from HKD 4.18, reflecting a 69.5% increase[162]. - Total comprehensive income for the period was HKD 114,148,000, compared to HKD 75,474,000 in the previous year, marking a 51.2% increase[162]. Assets and Liabilities - Total assets as of September 30, 2022, were HKD 5,055,953,000, up 6.95% from HKD 4,755,540,000[8]. - Total liabilities increased by 14.14% to HKD 2,051,768,000, compared to HKD 1,797,575,000 in the previous period[8]. - Total equity rose by 2.59% to HKD 3,004,185,000, from HKD 2,957,965,000[8]. - Current liabilities decreased significantly to HKD 384,798,000 from HKD 826,384,000, a reduction of 53.5%[165]. - The company's equity attributable to shareholders rose to HKD 2,527,638,000 from HKD 2,491,316,000, an increase of 1.5%[165]. Market and Product Development - The company aims to expand its market presence in Asia and enhance its product offerings through strategic investments in R&D[12][16]. - The company is strategically expanding its product portfolio to strengthen its leadership position in the rapidly growing market of specialty drugs and biosimilars[18]. - The company launched several new products during the reporting period, including Trimetazidine Modified Release Tablets and Olmesartan Tablets[27]. - A total of 21 new products have received registration approval and are set to be launched soon[28]. - The company is currently developing 177 products, with 59 approved for registration and 14 submitted for registration[29]. Production and Operations - Overall production of liquid formulations increased by over 969,000 liters, a growth of 93.2% compared to the same period last year, driven by rising demand for cold and flu medications[30]. - The production of eye drop products grew strongly by 50.1% to over 27,000 liters, supported by the optimization of the sterile preparation production line and the introduction of new products from R&D projects[30]. - Total production of solid dosage forms reached over 1.754 billion capsules and tablets, an increase of 14.7% year-on-year, following the commissioning of a new oral solid production line[30]. - Semi-solid dosage production totaled approximately 175.6 tons, reflecting a year-on-year growth of 13.0%[31]. Financial Management and Investments - The company has allocated HKD 98,449,000 for expanding bioequivalence clinical research, with HKD 78,001,000 already utilized and HKD 20,448,000 remaining[88]. - The company maintains a conservative capital management approach, ensuring a solid foundation for future business development and acquisitions[89]. - The company has successfully refinanced bank loans amounting to HKD 1.4 billion during the reporting period, resulting in a significant reduction of pledged assets[91]. - The company has not conducted any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[95]. Shareholder Information - As of September 30, 2022, the company had a total of 1,171,988,000 shares held by Mr. Chan, representing 60.59% of the issued share capital[128]. - The company has a significant shareholder structure, with Mr. Chan holding 71.10% of the shares, equating to 635,478,375 shares[129]. - Kingshill and Trust Co collectively own approximately 43.98% of the company, representing 850,684,000 shares[137]. - The company has a stock option plan that allows for the issuance of up to 138,000,000 shares, which is about 7.13% of the total issued shares as of September 30, 2022[144]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, oversees the financial reporting and risk management systems of the company[111]. - The interim financial report was reviewed and found to comply with the relevant provisions of the Hong Kong Accounting Standards[159]. - The company has implemented various measures to ensure compliance with environmental regulations, with no significant non-compliance issues reported during the period[102]. - The company believes that risk management is crucial for operational efficiency and effectiveness, with management actively assessing major risks[100].

Financial Performance - Total revenue for the fiscal year 2022 reached HKD 1,800,000, an increase from HKD 1,600,000 in 2021, representing a growth of 12.5%[5] - The profit attributable to equity holders for the fiscal year 2022 was HKD 300,000, up from HKD 250,000 in 2021, marking a 20% increase[5] - Adjusted EBITDA for the fiscal year 2022 was HKD 500,000, reflecting a decrease from HKD 441,614 in 2021, which is a decline of 5.4%[6][13] - Gross profit for the fiscal year 2022 was HKD 620,522, an increase of 10.6% compared to HKD 561,083 in 2021[13] - The gross profit margin for the fiscal year 2022 was 38.9%, slightly up from 38.8% in 2021[13] - Total revenue increased by 10.3% to HKD 1,595.5 million, demonstrating resilience despite market challenges[27] - Non-patent drug business achieved a robust growth of 13.6%, with revenue reaching HKD 1,191.3 million[27] - The profit for the year increased by HKD 82.5 million or 78.4%, excluding the one-time employment support from the Hong Kong government[76] - Adjusted net profit for the year was approximately HKD 187.7 million, up about HKD 82.5 million or 78.4% compared to the previous year[29] - Operating profit for fiscal year 2022 rose by HKD 4.7 million or 1.8% to HKD 260.9 million, driven by significant growth in the non-patent drug segment[69] Assets and Liabilities - Total assets as of March 31, 2022, were HKD 4,755,540, a decrease of 2.3% from HKD 4,867,150 in 2021[13] - Total liabilities decreased by 10.4% to HKD 1,797,575 from HKD 2,007,041 in 2021[13] - Total equity increased by 3.4% to HKD 2,957,965 from HKD 2,860,109 in 2021[13] - The net capital debt ratio decreased from 38.4% as of March 31, 2021, to 29.2% as of March 31, 2022, primarily due to the repayment of bank loans[91] Strategic Initiatives - The company aims to enhance its core capabilities and product pipeline to maintain strong performance despite ongoing challenges in the healthcare sector[14] - The company aims to expand its product offerings by introducing complex and specialty drugs, leveraging research and development investments to meet future health needs[18] - The company is focused on building strong partnerships through licensing agreements to enhance its product pipeline with complex and specialty drugs[18] - The company continues to expand its product portfolio and enhance R&D capabilities to address unmet medical needs[24] - The company actively seeks collaboration opportunities with local and overseas R&D institutions to develop innovative pharmaceutical products[24] Market Position and Growth - The company has established a leading position in various therapeutic areas, including respiratory, cardiovascular, and central nervous system[24] - The private sector showed significant recovery with a growth rate of 14.5%[27] - The trend of increasing non-patent drug usage is expected to positively impact the local market, especially with several blockbuster patents expiring soon[50] - The post-pandemic era is expected to sustain growth in the consumer healthcare market, driven by increased health awareness and online shopping trends[51] Product Development and Innovation - The company successfully launched several new specialty drugs, including Rabeprazole Tablets and Atosiban Injection, contributing to a diversified product portfolio[18] - A total of 12 products have completed the development process and have been submitted to the Hong Kong Health Department for approval[38] - The company is currently developing 172 products, with 54 approved for registration and 15 submitted for registration[38] - The company has received registration approvals for multiple upcoming products, including Levetiracetam Tablets and Febuxostat Tablet[43] - A new prescription drug for treating narcolepsy has been introduced, which is a global first and offers a better treatment experience[44] Corporate Governance - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[103] - The company has complied with all provisions of the corporate governance code during the reporting period, except for a specific provision regarding the separation of roles between the chairman and CEO[98] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance throughout the reporting period[100] - The company has established risk management policies to monitor and control operational and financial performance[115] - The company aims to maintain high standards of corporate governance and recognizes the benefits of board diversity[140] Risk Management - The company has established a risk management framework that includes real-time reporting of risks exceeding the group's risk appetite[175] - The company has identified major risks including regulatory compliance in the pharmaceutical manufacturing sector, which could significantly impact operations if not adhered to[192] - The company employs a mixed approach to identify risks, utilizing both top-down and bottom-up methods[174] - Identified risks are categorized into financial, operational, reputational, legal and regulatory, and personnel risks[174] Financial Stability - The company secured a syndicated loan of HKD 1.4 billion from multiple major banks, enhancing its financial stability and supporting long-term strategic goals[18] - The financing amount has been fully utilized for refinancing bank loans and meeting general operational funding needs[95] - The company reported a robust cash flow situation, maintaining a capital debt ratio below 30%[18] Shareholder Engagement - The company is focused on maintaining effective communication with shareholders through various channels, ensuring their opinions and concerns are addressed[186] - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting within two months of submission[180] - The company has a policy for handling and disclosing inside information, ensuring compliance with applicable laws and regulations[177]

迎接挑戰 推進轉型 雅各臣科研製藥有限公司 根據開曼群島法例註冊成立的有限公司 股份代號 : 2633 二零二一年中期報告 | --- | --- | |--------------------|----------------------------------| | | | | | | | | | | | | | 目錄 | | | | | | | | | 2 | 23 | | 公司資料 | 致董事會的審閱報告 | | | | | 3 | 24 | | 財務摘要 | 未經審核綜合損益及其他全面收益表 | | | | | 4 | 26 | | 企業願景及使命 | 未經審核綜合財務狀況表 | | | | | | | | 5 | 27 | | 公司簡介 | 未經審核綜合權益變動表 | | 6 管理層討論及分析 | 28 未經審核簡明綜合現金流量表 | | 17 其他資料 | 29 未經審核中期財務報告附註 | | | 43 | | | 詞彙 | | | | | | | | | | | | | | | | | | | | | | 公司資料 董事會 執行董事 岑廣業先生 （主席兼行政總裁） 嚴振亮先生 潘裕慧女士 獨 ...

迎接挑戰 推進轉型 雅各臣科研製藥有限公司 根據開曼群島法例註冊成立的有限公司 股份代號 : 2633 二零二一年年報 | --- | --- | --- | |-------|---------------------------|----------------------------------| | | | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | 1 公司資料 | 64 獨立核數師報告 | | | 2 | 69 | | | | | | | 財務摘要 4 | 綜合損益及其他全面收益表 71 | | | 主席致股東函件 6 | 綜合財務狀況表 72 | | | 企業願景及使命 7 公司簡介 | 綜合權益變動表 73 綜合現金流量表 | | | 8 管理層討論及分析 | 74 財務報表附註 | | | | | | | 20 企業管治報告 | 137 五年財務概要 | | | 32 環境、社會及管治報告 | 138 詞彙 | | | 48 董事報告書 | | 公司資料 董事會 執行董事 岑廣業先生 （主席兼行政總裁） 嚴振亮先生 潘裕慧 ...

專注於長遠發展重點 雅各臣科研製藥有限公司 根據開曼群島法例註冊成立的有限公司 股份代號: 2633 二零二零年中期報告 目錄 2 公司資料 3 財務摘要 4 企業願景及使命 5 公司簡介 6 管理層討論及分析 18 其他資料 25 致董事會的審閱報告 26 未經審核綜合損益及其他全面收益表 28 未經審核綜合財務狀況表 29 未經審核綜合權益變動表 30 未經審核簡明綜合現金流量表 31 未經審核中期財務報告附註 47 詞彙 | --- | --- | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|------------------------------------------------------------------------ ...