《科创板日报》3月15日讯（记者 郑炳巽）一系列动作显示，翰森制药（3692.HK）正加速在创新药领域的布局。 14日晚间，翰森制药透露全资附属公司已经与普米斯生物技术（珠海）有限公司（下称“普米斯”）签订协议，获得对方的独家许可，有权在全球范围内开发、生产及商业化所引进的双抗ADC（抗体偶联药物）产品HS-20117/PM1080，翰森制药方面将支付包括首付款及里程碑付款等在内的最高潜在付款50亿元。 《科创板日报》记者查询发现，此次实际是翰森制药与普米斯就HS-20117/PM-1080产品达成的进一步合作，在此之前，翰森制药针对该产品从普米斯所获得的开发及商业化许可范围，仅限于在中国内地及港澳台地区。翰森制药表示，本次新增许可将进一步丰富在研管线。 目前，国家药监局已经批准HS-20117/PM-1080的临床试验，I期临床研究正在进行之中，拟用于治疗晚期实体瘤。但翰森制药并未透露，许可范围扩大后是否将启动海外同步临床。 翰森制药近年来正频繁引进创新药产品，而与普米斯的合作也仅是其中之一。 在2023年8月，翰森制药旗下公司江苏豪森从德琪医药（6996.HK）引进塞利尼索（selinexor），开展在中 ...

智通财经APP获悉，翰森制药(03692)现涨近5%，截至发稿，涨4.59%，报12.76港元，成交额2341.59万港元。 消息面上，翰森制药发布公告，HS-10398胶囊已获得中国国家药品监督管理局核准签发的临床试验通知书，拟用于治疗免疫球蛋白A肾病和膜性肾病；HS-10501片已获得中国国家药品监督管理局核准签发的临床试验通知书，拟用于治疗2型糖尿病和成人肥胖症；HS-10509片已获得中华人民共和国国家药品监督管理局核准签发的临床试验通知书，拟用于治疗精神分裂症。 此外，据市场消息称，2月5日，国家医保局向有关行业协会发布关于征求《关于建立新上市化学药品首发价格形成机制鼓励高质量创新的通知(征求意见稿)》意见的函件。业内人士表示，此举在于鼓励药品创新研发，有利于保护医药企业创新积极性，也是对之前谈判采购政策的完善。 ...

Financial Performance - The company recorded an unaudited revenue of approximately RMB 4.511 billion for the six months ended June 30, 2023, representing a year-on-year growth of approximately 1.7%[14] - The company's profit was approximately RMB 1.289 billion, a decrease of approximately 0.7% compared to the same period last year[14] - Basic earnings per share were approximately RMB 0.22, down approximately 0.8% year-on-year[14] - The total revenue for the same period was approximately RMB 4.511 billion, an increase of about 1.7% year-on-year, while profit was approximately RMB 1.289 billion, a decrease of about 0.7% year-on-year[21] - The net profit for the first half of 2023 was RMB 1,288,848 thousand, slightly down from RMB 1,297,976 thousand in the same period of 2022, a decrease of about 0.7%[95] - The total comprehensive income for the first half of 2023 was RMB 1,752,778 thousand, compared to RMB 1,551,525 thousand in 2022, showing an increase of approximately 12.9%[95] - The company reported a foreign exchange gain of RMB 463,930 thousand for the first half of 2023, significantly higher than RMB 253,549 thousand in 2022, indicating a growth of about 83.0%[95] Research and Development - Research and development expenses amounted to approximately RMB 929 million, an increase of approximately 25.8% year-on-year, representing about 20.6% of total revenue[14] - The company has a total of 1,617 R&D personnel and over 30 innovative drug projects at various clinical stages as of June 30, 2023[19] - The company is focusing on enhancing its innovation capabilities through licensing and collaborative development in the global pharmaceutical industry[19] - The company emphasizes the development of innovative drugs with a focus on safety and efficacy, aiming to provide advanced treatment options for various diseases[33] - The company has successfully transformed into an innovative biopharmaceutical company focused on the development and sales of innovative drugs[15] - The company is actively pursuing new product development in the oncology sector, particularly targeting chronic myeloid leukemia (CML) and non-small cell lung cancer (NSCLC)[181] Product Development and Approvals - The company has received approval for seven innovative drugs, with six included in the national medical insurance catalog as of June 30, 2023[15] - Four new products were approved for market launch during the reporting period, including one innovative drug[15] - The innovative drug Amelot has been recognized in multiple national treatment guidelines and has received a patent award for its invention[25] - The innovative drug Saint Luolai (培莫沙肽注射液) received approval for two indications related to anemia caused by CKD in June 2023, enhancing treatment compliance with a longer half-life[31] - The company obtained clinical trial approvals for several innovative drugs, including HS-10390 for focal segmental glomerulosclerosis and HS-10506 for depression and insomnia[36] - The company is preparing for the submission of marketing authorization applications (MAA) for new therapies[181] Financial Position and Cash Flow - As of June 30, 2023, the company reported a net cash inflow from operating activities of RMB 1.146 billion for the six months ended[44] - The company's cash and bank deposits stood at RMB 16.917 billion as of June 30, 2023, down from RMB 17.615 billion on December 31, 2022[44] - The company's asset-liability ratio was approximately 24.3% as of June 30, 2023, slightly down from 24.5% on December 31, 2022[44] - The company reported a significant increase in share-based payment expenses to RMB 86,225 thousand from RMB 51,194 thousand, indicating higher compensation costs[101] - The company reported a net loss from associates of RMB 2,123,000 for the six months ended June 30, 2023, compared to a loss of RMB 776,000 in the same period of 2022[127] Shareholder Information and Corporate Governance - As of June 30, 2023, the company had a total of 5,933,350,070 shares issued, with major shareholders holding significant stakes[55] - Trust influential persons held 3,900,000,000 shares, representing 65.73% of the total shares[55] - The company has not made any significant investments or acquisitions during the reporting period and continues to seek strategic investment opportunities[48][49] - The company has complied with all corporate governance code provisions except for the separation of the roles of Chairman and CEO[79] - The company’s restricted share unit plan was approved on May 27, 2019, and is valid for ten years[63] Market Strategy and ESG Initiatives - The company was recognized in the S&P Global "Sustainable Development Yearbook (China Edition)" with an ESG rating in the top 1% of the industry[17] - The company is focused on environmental, social, and governance (ESG) initiatives to enhance its corporate responsibility[177] - The company plans to enhance R&D investments and strengthen technology accumulation to accelerate the development and commercialization of self-researched and introduced products[52] - The company remains committed to operational transformation and improving operational efficiency while adhering to compliance policies for sustainable development[52]

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of approximately RMB 4.511 billion, an increase of about 1.7% compared to the same period last year[1]. - The company's profit was approximately RMB 1.289 billion, a decrease of about 0.7% compared to the same period last year[1]. - The basic earnings per share were approximately RMB 0.22, a decrease of about 0.8% year-on-year[1]. - Total revenue for the same period was approximately RMB 4.511 billion, an increase of about 1.7% year-on-year, while profit was approximately RMB 1.289 billion, a decrease of about 0.7% year-on-year[6]. - The group's profit before tax reached RMB 1,301,181,000 for the six months ended June 30, 2023, compared to RMB 1,236,688,000 for the same period in 2022, reflecting an increase of approximately 5.2%[40]. - The total income tax expense for the group was RMB 211,035,000 for the six months ended June 30, 2023, compared to RMB 211,148,000 for the same period in 2022, showing a slight decrease[42]. - The group declared a dividend of HKD 0.05 per share for the fiscal year 2022, totaling approximately RMB 268,852,000, compared to RMB 455,826,000 for the previous year[43]. - The group experienced a significant increase in employee benefits expenses, totaling RMB 1,301,181,000 for the six months ended June 30, 2023, compared to RMB 1,236,688,000 for the same period in 2022, an increase of approximately 5.2%[40]. Research and Development - Research and development expenses amounted to approximately RMB 929 million, an increase of about 25.8% year-on-year, accounting for approximately 20.6% of total revenue[1]. - The company has successfully transformed into an innovative biopharmaceutical company focused on the development and sales of innovative drugs, with seven innovative drugs approved for listing as of June 30, 2023[2]. - The company has a total of 1,617 R&D personnel and over 30 innovative drug projects at various clinical stages as of June 30, 2023[6]. - The company has established a comprehensive R&D platform and has developed multiple innovative drug products, indicating a strong focus on innovation and technology advancement[36]. - The company is committed to expanding its R&D team and investing in technology[64]. - The company plans to continue increasing R&D investment and strengthen its technological capabilities to accelerate the development and commercialization of self-developed and introduced products[29]. Innovative Drug Sales - Sales revenue from innovative drugs reached approximately RMB 2.786 billion, representing a year-on-year growth of about 20.1%, with the proportion of revenue from innovative drugs rising from 52.3% to 61.8%[1]. - For the six months ended June 30, 2023, the company's innovative drug sales revenue was approximately RMB 2.786 billion, representing a year-on-year growth of about 20.1% and accounting for 61.8% of total revenue[6]. - Revenue from the oncology drug portfolio reached approximately RMB 2.555 billion, accounting for about 56.6% of total revenue[7]. - Revenue from the anti-infection drug portfolio was approximately RMB 601 million, representing about 13.3% of total revenue[7]. - Revenue from the central nervous system disease drug portfolio was approximately RMB 701 million, accounting for about 15.5% of total revenue[7]. - Revenue from the metabolic and other areas reached approximately RMB 654 million, representing about 14.6% of total revenue[7]. Market Position and Strategy - The company has established a leading position in major therapeutic areas with significant unmet medical needs, including oncology and central nervous system diseases[2]. - The recent policy adjustments in the national medical insurance catalog are expected to enhance the accessibility and commercial potential of innovative drugs, benefiting companies with high clinical value and effective commercialization capabilities[5]. - The company is committed to expanding its market presence, particularly in the Chinese pharmaceutical market, where over 90% of its revenue and operating profit are generated[37]. Corporate Governance and ESG - The company was included in the S&P Global's "Sustainable Development Yearbook (China Edition)" with an ESG rating in the top 1% of the industry, receiving the "Best Progress Company" award[4]. - The company aims to enhance its ESG management and has been recognized as one of the "Best 1%" and "Best Progress in Industry" in the S&P Global Corporate Sustainability Assessment for 2022[24]. - The company has complied with all corporate governance code provisions except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[51]. Financial Position - As of June 30, 2023, the company had cash and bank deposits totaling RMB 16.917 billion, with financial assets at fair value through profit or loss amounting to RMB 4.530 billion[25]. - The company's debt-to-asset ratio was approximately 24.3% as of June 30, 2023, showing a slight decrease from 24.5% at the end of 2022[25]. - The company's total assets less current liabilities as of June 30, 2023, amounted to RMB 24,526,398 thousand, down from RMB 27,382,377 thousand as of December 31, 2022[32]. - The company's net assets amounted to RMB 24,175,628,000, an increase from RMB 22,646,944,000 as of December 31, 2022, representing a growth of approximately 6.75%[33]. - The total non-current liabilities decreased significantly to RMB 350,770,000 from RMB 4,735,433,000, indicating a reduction of approximately 92.59%[33]. Shareholder Information - The company issued and allocated 11,000,000 new shares under the Restricted Share Unit Plan, with a total of 20,304,400 restricted share units granted during the six months ended June 30, 2023[28]. - The average number of ordinary shares issued for basic earnings per share calculation was 5,923,743,166 for the six months ended June 30, 2023, slightly up from 5,916,956,923 for the same period in 2022[46]. - The company declared an interim dividend of HKD 0.0707 per share for the six months ended June 30, 2023, compared to HKD 0.0500 per share for the same period in 2022, representing a 41.4% increase[55]. Investment and Funding - The company issued USD 600 million zero-coupon convertible bonds due in 2026, with net proceeds of approximately USD 595.65 million allocated primarily for R&D expenses, facility upgrades, and general corporate purposes[60]. - The company has fully utilized the net proceeds from its 2019 IPO for the intended purposes as disclosed in the prospectus[56]. - The company plans to fully utilize the remaining proceeds from the bond issuance by 2030[61]. - The company has drawn down 4.8316 billion USD from the convertible bond issuance, with 1.0849 billion USD remaining unutilized[65]. Clinical Trials and Approvals - Four new products were approved for market during the reporting period, including one innovative drug, and eleven new clinical trial approvals were obtained for six innovative drugs[2]. - Clinical trials for HS-10365 and HS-20093 presented promising results at major conferences, showing good safety profiles and anti-tumor activity in various cancer types[18]. - The company has obtained clinical trial approvals for several new drugs, including HS-10390 for focal segmental glomerulosclerosis and IgA nephropathy, HS-10506 for depression and insomnia, HS-20117 for advanced solid tumors, HS-10516 for renal cell carcinoma, and HS-10518 for endometriosis-related pain and heavy menstrual bleeding[20][21][22][23].

Innovative Drug Development and Approvals - Hansoh Pharmaceutical's innovative drug sales revenue reached approximately RMB 5.006 billion, a year-on-year increase of 19.1%, accounting for 53.4% of the company's total revenue, up from 42.3% in the same period last year[4] - The company has successfully transformed into an innovative biopharmaceutical company, with five Class 1 innovative drugs and one imported innovative drug approved for marketing in China, all included in the National Medical Insurance Directory[4] - In 2022, the company obtained 19 clinical approvals, all related to innovative drugs, and submitted six marketing applications, including one for an innovative drug[4] - The company's Class 1 innovative drug, Ameile (Aumolertinib), was approved for first-line treatment of EGFR-mutated non-small cell lung cancer in December 2021[6] - In 2022, the company received clinical trial approvals for three new Class 1 drugs targeting chronic myeloid leukemia, advanced solid tumors, and schizophrenia[6] - The company's innovative drug Hengmu (Tenofovir Alafenamide Fumarate Tablets) was included in the 2021 National Medical Insurance Directory[6] - The company's innovative drug "Xinyue" (Inebilizumab Injection) received drug registration approval from the National Medical Products Administration in March 2022[7] - The company presented Phase I trial data for its self-developed PI3Kα inhibitor HS-10352 at the 2022 AACR Annual Meeting, showing promising anti-tumor activity in HR+HER2- advanced breast cancer patients with PIK3CA mutations[7] - The company obtained clinical trial approvals for two self-developed Class 1 new drugs: HS-10386 for advanced solid tumors and HS-10384 for menopausal vasomotor syndrome in April 2022[7] - The company's partner EQRx submitted the first MAA for Aumolertinib (a third-generation EGFR-TKI) outside China to the MHRA in June 2022[7] - The company received drug registration approval for Palbociclib Capsules, an anti-tumor drug for HR+HER2- advanced breast cancer, in July 2022[7] - The company's self-developed Class 1 new drug HS-10390 tablets received clinical trial approval from the National Medical Products Administration in January 2023, intended for the treatment of focal segmental glomerulosclerosis and IgA nephropathy[100] - The company's Class 1 new drug HS-10517 tablets, a 3CL protease inhibitor for COVID-19, also received clinical trial approval in January 2023, targeting mild to moderate adult COVID-19 patients[100] - Four innovative drugs (including new indications) were included in the 2022 edition of the National Reimbursement Drug List in January 2023: Ameile®, Xinyue®, Haosen Xinfu®, and Fulaimi®[100] - Ameile® was newly included in the National Reimbursement Drug List for the first-line treatment of NSCLC patients with EGFR exon 19 deletion or exon 21 (L858R) substitution mutations[100] - Xinyue® was newly included in the National Reimbursement Drug List for the treatment of AQP4 antibody-positive NMOSD in adults[100] Financial Performance - Revenue for 2022 was approximately RMB 9.382 billion, a decrease of 5.6% year-over-year[19][21] - Net profit for 2022 was approximately RMB 2.584 billion, a decrease of 4.8% year-over-year[19][21] - Net profit margin remained stable at 27.5%, maintaining a high level in the industry[19] - Sales revenue from innovative drugs reached approximately RMB 5.006 billion, accounting for 53.4% of total revenue, up from 42.3% in the previous year[19][21] - Revenue for 2022 was RMB 9,382,410 thousand, a decrease of 5.6% compared to RMB 9,935,141 thousand in 2021[143] - Gross profit for 2022 was RMB 8,515,400 thousand, a decrease of 6.1% compared to RMB 9,065,099 thousand in 2021[143] - Net profit for 2022 was RMB 2,583,747 thousand, a decrease of 4.8% compared to RMB 2,712,902 thousand in 2021[143] - Total comprehensive income for 2022 was RMB 3,216,633 thousand, an increase of 28.1% compared to RMB 2,511,499 thousand in 2021[144] - Cash and bank balances increased to RMB 17,615,274 thousand in 2022, up from RMB 14,702,056 thousand in 2021[145] - Total assets less current liabilities increased to RMB 27,382,377 thousand in 2022, up from RMB 24,136,441 thousand in 2021[145] - Total equity attributable to owners of the parent company increased to RMB 22,646,944 thousand in 2022, up from RMB 20,028,845 thousand in 2021[146] - R&D expenses for 2022 were RMB 1,693,314 thousand, a decrease of 5.8% compared to RMB 1,797,012 thousand in 2021[143] - Other comprehensive income for 2022 was RMB 632,886 thousand, compared to a loss of RMB 201,403 thousand in 2021[144] - Non-current assets increased to RMB 4,170,259 thousand in 2022, up from RMB 3,980,803 thousand in 2021[145] - Total equity increased from RMB 17,875,598 thousand in 2021 to RMB 22,646,944 thousand in 2022, reflecting a growth of 26.7%[147] - Net profit for the year 2022 was RMB 2,583,747 thousand, compared to RMB 2,712,902 thousand in 2021, a decrease of 4.8%[147] - Foreign exchange translation differences resulted in a gain of RMB 632,886 thousand in 2022, compared to a loss of RMB 201,403 thousand in 2021[147] - Share-based payment reserves increased from RMB 134,062 thousand in 2021 to RMB 313,478 thousand in 2022, a growth of 133.8%[147] - Cash flow from operating activities in 2022 was RMB 2,741,205 thousand, up 6.4% from RMB 2,577,062 thousand in 2021[148] - Depreciation of right-of-use assets increased to RMB 315,538 thousand in 2022 from RMB 257,165 thousand in 2021, a rise of 22.7%[148] - Trade receivables and bills decreased by RMB 90,446 thousand in 2022, compared to an increase of RMB 549,347 thousand in 2021[148] - Inventory increased by RMB 40,943 thousand in 2022, a significant reduction from the RMB 111,747 thousand increase in 2021[148] - Contract liabilities increased by RMB 2,896 thousand in 2022, compared to a decrease of RMB 173,487 thousand in 2021[148] - Income tax paid in 2022 was RMB 324,033 thousand, slightly higher than the RMB 319,439 thousand paid in 2021[148] - Investment activities resulted in a net cash outflow of RMB 5,935,073 thousand in 2022, compared to RMB 2,259,157 thousand in 2021[149] - The company purchased equity investments measured at fair value through profit or loss for RMB 186,205 thousand in 2022, a decrease from RMB 357,266 thousand in 2021[149] - The company received interest income from bank deposits with initial deposit periods exceeding three months of RMB 111,172 thousand in 2022, down from RMB 150,170 thousand in 2021[149] - The company's cash and cash equivalents decreased by RMB 4,012,012 thousand in 2022, compared to an increase of RMB 3,734,681 thousand in 2021[149] - The company's year-end cash and cash equivalents stood at RMB 2,666,132 thousand in 2022, down from RMB 6,718,709 thousand in 2021[149] - The company's unrestricted cash and bank balances were RMB 2,464,318 thousand in 2022, slightly down from RMB 2,503,263 thousand in 2021[149] - The company's short-term unsecured time deposits with initial deposit periods of less than three months decreased to RMB 201,814 thousand in 2022 from RMB 4,215,446 thousand in 2021[149] - The company's financing activities resulted in a net cash outflow of RMB 818,144 thousand in 2022, compared to a net cash inflow of RMB 3,416,776 thousand in 2021[149] - The company paid dividends of RMB 712,184 thousand in 2022, up from RMB 380,866 thousand in 2021[149] ESG and Sustainability - The company's ESG performance was recognized with an MSCI ESG rating of 'A' and a score of 63 in the S&P Global Corporate Sustainability Assessment, surpassing 95% of global peers[4] - The company maintained an MSCI ESG rating of 'A' and scored 63 in the S&P Global Corporate Sustainability Assessment, ranking in the top 5% of global pharmaceutical peers[19] - The company scored 63 in S&P Global's Corporate Sustainability Assessment (CSA), ranking above 95% of global peers and earning multiple ESG awards, including being the only Chinese pharmaceutical company listed in the 2023 Sustainability Yearbook[40] Licensing and Partnerships - The company entered into an exclusive licensing agreement with NiKang Therapeutics in May 2022 to develop and commercialize NKT2152 in China (including Hong Kong, Macau, and Taiwan)[7] - The company signed an exclusive licensing agreement with TiumBio in August 2022 to develop and commercialize TU2670 for endometriosis and uterine fibroids in China (including Hong Kong, Macau, and Taiwan)[8] - The company secured global rights to develop, produce, and commercialize the anti-SARS-CoV-2 candidate drug GDI-4405 through an exclusive licensing agreement with GHDDI in August 2022[8] - The company entered into an exclusive licensing agreement with KiOmed in September 2022 to develop and commercialize KiOmedinevsOne for osteoarthritis in Mainland China, Macau, and Taiwan[9] - The company obtained exclusive rights to develop, produce, and commercialize the EGFR/cMet bispecific antibody drug PM1080 in China (including Hong Kong, Macau, and Taiwan) through a licensing agreement with Primus in November 2022[9] - The company entered into an exclusive licensing agreement with TiumBio in August 2022, securing rights to develop and commercialize TU2670 for endometriosis and uterine fibroids in China (including Hong Kong, Macau, and Taiwan)[36] - The company signed an exclusive licensing and co-development agreement with GHDDI in August 2022, gaining global rights to develop, produce, and commercialize the anti-SARS-CoV-2 candidate drug GDI-4405 series, which shows strong antiviral activity against Delta and Omicron variants[37] - The company partnered with KiOmed in September 2022, obtaining exclusive rights to develop and commercialize KiOmedinevsOne for osteoarthritis treatment in China (including Macau and Taiwan)[38] - The company signed a licensing agreement with Pu-Mu-Si in November 2022, securing exclusive rights to develop and commercialize PM1080, an EGFR/cMet bispecific antibody drug, in China (including Hong Kong, Macau, and Taiwan)[39] R&D and Innovation - The company's global headquarters and R&D center officially opened in December 2021, marking a new phase of innovation and internationalization[6] - The company has six innovative drugs approved in China, all included in the National Reimbursement Drug List[19][21] - Over 30 innovative drug projects are in various clinical stages, covering multiple therapeutic areas[19][21] - R&D personnel increased to 1,521 by the end of 2022[21] - The company completed the introduction of three clinical-stage products through licensing and collaboration[21] - The company's R&D investment totaled RMB 1.693 billion, accounting for 18.0% of total revenue[23] - The company's R&D team consists of 1,521 researchers across four R&D centers in Shanghai, Lianyungang, Changzhou, and the United States[30] - In 2022, Hengrui obtained 82 authorized patents in China (including 18 in Hong Kong, Macao, and Taiwan) and 10 foreign authorized patents[30] - Hengrui launched 11 new products in 2022, including the innovative drug Inebilizumab Injection (brand name: Xinyue®) for treating AQP4 antibody-positive NMOSD in adults[30] - The company submitted 6 new drug applications in 2022, including one innovative drug application (with new indications) for Pemostimotide Injection[30] - Hengrui received 19 clinical trial approvals in 2022, covering treatments for chronic myeloid leukemia, advanced solid tumors, schizophrenia, and menopausal vasomotor syndrome[32] - The company spent approximately RMB 292 million on BD projects (including upfront and milestone payments) in 2022[33] - The company will increase investment in R&D activities, leveraging internal and external cutting-edge technologies such as antibody-drug conjugates, small interfering RNA, and bispecific antibodies to expand its innovative therapy pipeline[44] Corporate Governance and Leadership - The Board of Directors consists of three executive directors (including the Chairman and CEO) and three independent non-executive directors as of December 31, 2022[47] - The Board has established five specialized committees, including Audit, Remuneration, Strategy and Development, ESG, and Nomination Committees, to oversee specific aspects of the company's operations[46] - The company has appointed three independent non-executive directors, with one possessing appropriate professional qualifications or expertise in accounting or financial management[48] - The Chairman and CEO roles are currently held by the same individual, Zhong Huijuan, due to her extensive knowledge and experience in the Chinese pharmaceutical industry, though the Board will consider separating the roles in the future[52] - Directors are required to retire and be re-elected at least once every three years, with one-third of the Board subject to re-election at each annual general meeting[53] - New directors receive comprehensive onboarding training, and the company encourages ongoing professional development to ensure informed contributions to the Board[55] - The company's audit committee reviewed the consolidated financial statements for the year ended December 31, 2022, and confirmed compliance with applicable accounting standards and listing rules[59] - The audit committee held two meetings in 2022 to review financial statements and internal audit effectiveness[60] - The remuneration committee held four meetings in 2022 to review executive and senior management compensation and restricted share unit grants[61] - The company granted restricted share units to certain employees, including two directors, with some units vesting in less than 12 months[61] - The strategy and development committee held one meeting in 2022 to assess development progress and future strategies, including exploring major investments and new market expansion[62] - The environmental, social, and governance (ESG) committee held two meetings in 2022 to review ESG initiatives and identify key ESG issues and climate change risks[63] - The Nomination Committee consists of three members, including one executive director and two independent non-executive directors, and held one meeting in 2022 to review the board's structure and independence[64] - The company has adopted a Board Diversity Policy, aiming to achieve diversity in professional experience, skills, knowledge, gender, age, cultural and educational background, race, and tenure[66] - As of December 31, 2022, the board includes six directors with an equal gender split, and the company's full-time employees consist of 64.2% male and 35.8% female[66] - The board held four meetings in 2022, and the chairman held one meeting with independent non-executive directors without other directors present[67] - All directors attended 100% of the board meetings, and the attendance rates for committee meetings and the annual general meeting were also 100%[68] - The company has five senior management employees, all of whom received compensation exceeding RMB 1.5 million in 2022[70] - The board confirms its responsibility for preparing financial statements that provide a true and fair view of the company's financial position, with no significant uncertainties affecting the group's ability to continue as a going concern[71] - The company has established a three-tier organizational framework (business units, functional departments, and internal control and audit departments) to identify, analyze, classify, control, and monitor risks related to strategy, operations, market development, financial matters, legal matters, investment and financing, information security, anti-bribery, and anti-money laundering[72] - The company paid a total of RMB 3,700 thousand to its external auditor, Ernst & Young, during the reporting period, including RMB 3,150 thousand for audit services and RMB 550 thousand for non-audit services[74] - The company has adopted a shareholder communication policy to ensure timely, comprehensive, and easily understandable information is provided to shareholders and investors through various channels, including market disclosures, the company's website, interim and annual reports, and shareholder meetings[75] - Shareholders holding at least one-tenth of the voting rights can request a general meeting, and if the board does not convene a meeting within 21 days, the requesting shareholders can convene the meeting themselves[76] - The company has not made any changes to its articles of association during the reporting period, and the latest version is available on the company's website and the Hong Kong Stock Exchange website[78] - The company's board has proposed a final dividend of 5 HK cents per share for the year ended December 31, 2022, bringing the total annual dividend to 10 HK cents per share, including the interim dividend[80] - The company's annual general meeting will be held on June 1, 2023, and the notice will be sent to shareholders at least 21 days before the meeting[82] - The company has 5,922,350,070 issued ordinary shares as of December 31, 2022[85] - The net proceeds from the placement in 2020 amounted to approximately HKD 3.4772 billion, with HKD 4.0027 billion utilized by December 31, 2022, and HKD 3.07693 billion remaining unused[86] - The net proceeds from the issuance of zero-coupon convertible bonds in 2021 amounted to approximately USD 595.

Financial Performance - The company reported a revenue of approximately RMB 9.382 billion for the year ended December 31, 2022, a decrease of about 5.6% compared to the previous year[1]. - The company's profit was approximately RMB 2.584 billion, a decrease of about 4.8% compared to the previous year[1]. - Earnings per share were approximately RMB 0.44, down about 4.7% from the previous year[1]. - Total revenue for the year ended December 31, 2022, was approximately RMB 9.382 billion, a decrease of about 5.6% compared to the previous year, while profit was approximately RMB 2.584 billion, down about 4.8% year-on-year[9]. - Gross profit for 2022 was RMB 8,515,400, down from RMB 9,065,099 in 2021, reflecting a gross margin of approximately 90.7%[36]. - The group reported a pre-tax profit of RMB 2,596,470,000 in 2022, an increase from RMB 2,370,408,000 in 2021, reflecting a growth of approximately 9.5%[45]. - The total tax expense for the year was RMB 364,681,000, down from RMB 587,180,000 in 2021, indicating a reduction of about 37.9%[48]. - The company’s attributable profit for 2022 was RMB 2,583,747 thousand, a decrease from RMB 2,712,902 thousand in 2021, representing a decline of approximately 4.7%[50]. Revenue Breakdown - Sales revenue from innovative drugs reached approximately RMB 5.006 billion, an increase of about 19.1%, accounting for 53.4% of total revenue, up from 42.3% in the previous year[1][2]. - Revenue from the oncology drug portfolio reached approximately RMB 5.522 billion, accounting for about 58.9% of the total revenue[9]. - Revenue from the central nervous system disease product portfolio reached approximately RMB 1.494 billion, accounting for about 15.9% of total revenue[10]. - Revenue from the anti-infection product portfolio reached approximately RMB 1.249 billion, accounting for about 13.3% of total revenue[10]. - Revenue from the metabolic and other product portfolio reached approximately RMB 1.117 billion, accounting for about 11.9% of total revenue[10]. - Revenue from customer contracts for goods sales decreased to RMB 9,298,594,000 in 2022 from RMB 9,707,761,000 in 2021, representing a decline of approximately 4.2%[44]. Research and Development - Research and development expenses were approximately RMB 1.693 billion, representing about 18.0% of total revenue[1]. - The company has a total of over 30 innovative drug projects at various clinical stages, with 1,521 research personnel dedicated to enhancing independent innovation and research efficiency[9]. - The company submitted six new drug applications, including one for a Class 1 innovative drug, during the reporting period[2]. - The company has established a research and development team of 1,521 researchers across four centers in China and the U.S., focusing on oncology, infectious diseases, CNS disorders, metabolic diseases, and autoimmune diseases[18]. - The innovative drug pipeline achieved significant progress, with two approved indications for Amelior being included in the national medical insurance catalog[11]. Licensing and Partnerships - The company entered into an exclusive licensing agreement with NiKang Therapeutics for the development and commercialization of NKT2152 in China[3]. - The company entered into exclusive licensing agreements for the development and commercialization of several drugs, including PM1080 for EGFR/cMet dual-specificity antibody and TU2670 for endometriosis and uterine fibroids[5][8]. - The company has established a partnership with EQRx for the global development and commercialization of GDI4405, a candidate drug for COVID-19[4]. - The company has established a partnership with TiumBio to develop and commercialize TU2670 for the treatment of endometriosis and uterine fibroids in China[26]. - The company has obtained exclusive rights to develop, produce, and commercialize the candidate drug GDI-4405 series for COVID-19 globally through a partnership with GHDDI[27]. Market Presence and Product Approvals - The company has five Class 1 innovative drugs and one imported innovative drug approved for market in China, with eleven products approved during the reporting period[2]. - The company received drug registration certificates for six innovative drugs, all of which entered the national medical insurance catalog by the end of the reporting period[9]. - Four innovative drugs have been included in the National Medical Insurance Catalog (2022 version), enhancing the company's market presence[57]. - The innovative drug Fulaimei, a long-acting GLP-1 analog, was recognized in the diabetes treatment guidelines as a new medication option[15]. - The innovative drug Ianalumab injection (brand name: Xinyue®) was approved for marketing in March 2022 for the treatment of adult patients with AQP4 antibody-positive NMOSD[19]. Corporate Governance and Sustainability - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[61]. - The company has adopted a customized code of conduct for directors regarding securities trading, ensuring compliance with the standards set forth in the listing rules[60]. - The company has complied with all provisions of the corporate governance code during the reporting period, except for the separation of the roles of Chairman and CEO[59]. - The company received a score of 63 in the S&P Global Corporate Sustainability Assessment, surpassing 95% of its peers globally, and was recognized in the 2023 Sustainability Yearbook as the only selected pharmaceutical company from mainland China[30]. - The company maintains a strong commitment to ESG principles, focusing on corporate governance, product quality, and community progress, while receiving multiple awards for its sustainability efforts[30]. Cash Flow and Financial Position - The company achieved a net cash inflow of RMB 2.741 billion from operating activities for the year ended December 31, 2022, with capital expenditures of RMB 319 million primarily for construction and equipment purchases[31]. - As of December 31, 2022, the company had cash and bank deposits of RMB 17.615 billion, an increase from RMB 14.702 billion as of December 31, 2021, and a debt-to-asset ratio of approximately 24.5%[31]. - Current assets increased to RMB 25,831,620 in 2022 from RMB 23,179,368 in 2021, indicating a growth of 11.4%[38]. - The company's cash and bank balances decreased to RMB 1,463,752 in 2022 from RMB 1,873,773 in 2021, a decline of 21.8%[38]. - Trade receivables, net of impairment, increased to RMB 3,533,969 thousand in 2022 from RMB 3,247,297 thousand in 2021, reflecting a growth of approximately 8.8%[51]. Employee and Operational Metrics - The company employed a total of 10,523 full-time employees as of December 31, 2022, with employee costs amounting to approximately RMB 2.596 billion for the year[34]. - The company incurred approximately RMB 292 million in business development (BD) project expenses during the reporting period[22]. - The company has not engaged in any significant acquisitions or disposals during the reporting period[33].

Financial Performance - For the six months ended June 30, 2022, the company recorded unaudited revenue of approximately RMB 4.434 billion, representing a year-on-year growth of about 0.7%[7] - Profit for the period was approximately RMB 1.298 billion, reflecting a year-on-year increase of about 0.6%[7] - Total revenue for the same period was approximately RMB 4.434 billion, an increase of about 0.7% year-on-year, with a profit of approximately RMB 1.298 billion, also up by about 0.6%[18] - The group’s profit before tax for the six months ended June 30, 2022, was RMB 1,236,688,000, compared to RMB 1,109,368,000 for the same period in 2021, representing an increase of approximately 11.5%[85] - The net profit for the six months ended June 30, 2022, was RMB 1,297,976 thousand, slightly up from RMB 1,290,590 thousand in the same period of 2021, reflecting a marginal increase of 0.6%[72] - The total comprehensive income for the period was RMB 1,551,525 thousand, compared to RMB 1,166,469 thousand in 2021, showing a significant increase of about 33%[69] Research and Development - Research and development expenses were approximately RMB 739 million, an increase of about 7.6% compared to the same period last year, accounting for approximately 16.7% of total revenue[7] - The company continues to invest in R&D and has developed proprietary technologies, with a series of innovative drugs at various stages of development[8] - The company has 1,432 R&D personnel and over 25 innovative drug projects at various clinical stages as of June 30, 2022[17] - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[127] Product Development and Innovation - Sales of innovative drugs accounted for approximately 52.3% of total revenue, up from 28.5% in the same period last year[7] - Innovative drug sales revenue was approximately RMB 2.321 billion, representing a year-on-year growth of about 84.8%[9] - The company had seven new products approved for market launch and submitted four new drug applications, including one for a class 1 innovative drug[8] - The company launched its self-developed GLP-1 receptor agonist, a long-acting innovative drug, in China for the treatment of type II diabetes in May 2019[10] - The company is actively pursuing new product development and clinical trials for various innovative drugs, enhancing its competitive edge in the pharmaceutical industry[16] - The company has launched 7 new products, including the innovative drug Xinyue, and submitted 4 new drug applications, indicating a strong pipeline for future growth[30] Market Position and Strategy - The company has established a leading position in major therapeutic areas with significant unmet clinical needs, including oncology and central nervous system diseases[8] - The company is focusing on innovation and internationalization, as indicated by the establishment of its global operations headquarters and R&D center in December 2021[12] - The company plans to expand its treatment areas beyond oncology and infectious diseases, aiming to meet unmet health needs globally[41] - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[127] Financial Health - The company achieved a net cash inflow of RMB 1.774 billion from operating activities for the six months ended June 30, 2022[36] - As of June 30, 2022, the company had cash and bank deposits amounting to RMB 16.978 billion, an increase from RMB 14.702 billion as of December 31, 2021[36] - The company's asset-liability ratio was approximately 26.8% as of June 30, 2022, compared to 26.3% as of December 31, 2021[36] - The total liabilities increased to RMB 7,718,831 thousand from RMB 7,131,326 thousand, indicating a rise of approximately 8.22%[71] Customer and Market Insights - The company reported that the pharmaceutical market is expected to maintain stable growth due to increasing healthcare awareness and an aging population[16] - The company did not have any single customer contributing 10% or more to its total revenue during the reporting period, indicating a diversified customer base[80] - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the last quarter[127] Shareholder Information - Stellar Infinity holds a beneficial ownership of 3,900,000,000 shares, representing 65.85% of the company[48] - Apex Medical, owned by Mr. Cen Jun Da, holds 950,000,000 shares, accounting for 16.04% of the company[48] - The total number of shares issued by the company as of June 30, 2022, is 5,922,350,070[48] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.05 per share for the six months ending June 30, 2022[60] - The group declared a dividend of RMB 7.32 per share for the six months ended June 30, 2022, totaling RMB 455,826,000, compared to RMB 6.51 per share totaling RMB 380,866,000 in 2021[89]

Revenue and Financial Performance - The sales revenue of innovative drugs reached approximately RMB 4.202 billion, representing a year-on-year growth of about 168.9%, increasing its share of total revenue from 18.0% to 42.3%[5] - In 2021, the company's revenue reached RMB 9,935,141, an increase of 14.3% from RMB 8,690,234 in 2020[12] - Total revenue for the reporting period was approximately RMB 9.935 billion, an increase of about 14.3% compared to the previous year[17] - Profit for the period was approximately RMB 2.713 billion, reflecting a year-on-year increase of about 5.6%[17] - The company's total equity rose to RMB 20,028,845 thousand in 2021, up from RMB 17,875,598 thousand in 2020, reflecting a stronger financial position[167] - The company reported a total comprehensive income of RMB 2,511,499 thousand for 2021, compared to RMB 1,590,713 thousand in 2020, showing improved overall performance[163] - The net profit for the year was RMB 2,712,902, compared to RMB 2,568,907 in 2020, reflecting a growth of 5.6%[12] - Basic earnings per share for 2021 was RMB 0.46, compared to RMB 0.44 in 2020, indicating a growth in profitability per share[161] Research and Development - The company has a strong focus on R&D, continuously increasing investment and establishing a comprehensive R&D platform[4] - Research and development expenses in 2021 were RMB 1,797,012, an increase of 43.6% from RMB 1,252,246 in 2020[12] - The number of R&D personnel increased to approximately 1,650, with over ten new innovative drug projects entering clinical stages[17] - The company has 36 ongoing clinical projects, with over 25 innovative drugs in clinical stages[28] - The company aims to enhance its R&D capabilities and efficiency, focusing on innovative product development to increase the revenue contribution from innovative drug products[43] Product Development and Approvals - Eleven new products were approved for market during the reporting period, including two innovative drugs for new indications[4] - The innovative drug Amelot (Ametinib Mesylate Tablets) was approved for a new indication in first-line treatment of non-small cell lung cancer during the reporting period[20] - The innovative drug Hengmu (Amitriptyline) received drug registration approval from the National Medical Products Administration in June 2021[8] - The innovative drug Amel (Amitriptyline) was included in the updated national medical insurance catalog in December 2021[8] - The innovative drug Hengmu (艾米替諾福韋片) was approved for chronic hepatitis B treatment in June 2021[28] Financial Position and Assets - The total assets of the company as of December 31, 2021, were RMB 27,160,171, up from RMB 20,792,060 in 2020[13] - Cash and cash equivalents at year-end totaled RMB 14,702,056 thousand, significantly higher than RMB 4,284,970 thousand in 2020, indicating strong liquidity[165] - The company's asset-liability ratio was approximately 26.3% as of December 31, 2021, compared to 14.0% as of December 31, 2020[39] - The company reported a total revenue of RMB 3,300,082,000 before tax, up from RMB 3,098,299,000 in the previous year, indicating a growth of about 6.5%[171] Corporate Governance and Management - The company has established various professional committees, including the Audit Committee, Remuneration Committee, and Strategy and Development Committee, to enhance governance and oversight[63] - The company has appointed Ms. Zhong Huijuan as both the Chairperson and CEO, leveraging her extensive knowledge and experience in the Chinese pharmaceutical industry[56] - The Audit Committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ended December 31, 2021, confirming compliance with applicable accounting standards and listing rules[64] - The company has established a three-year service contract with each executive director and a three-year appointment letter with independent non-executive directors, ensuring compliance with corporate governance codes[57] Environmental, Social, and Governance (ESG) - The company’s ESG rating improved from BBB to A in the latest MSCI report[8] - The company established an Environmental, Social, and Governance (ESG) committee in 2021 to enhance its ESG management[15] - The board established an Environmental, Social, and Governance (ESG) committee on June 28, 2021, to oversee compliance and initiatives[114] - The ESG Committee identified climate change risks and developed response measures during its meeting in the reporting period[71] Collaborations and Partnerships - The company engaged in significant collaborations, including an exclusive licensing agreement with SCYNEXIS for the commercialization of Ibrexafungerp in China, which is a novel antifungal drug[33] - The company established a joint venture with Cormorant Asset Management, completing a USD 72 million Series A financing[8] - The company actively pursued external collaborations, including partnerships with Keros and Olix Pharmaceuticals to enhance its innovative drug pipeline[34][35] Market and Customer Base - Revenue from the oncology product portfolio reached approximately RMB 5.581 billion, accounting for about 55.2% of total revenue[18] - Revenue from the anti-infection product portfolio was approximately RMB 1.503 billion, representing about 15.1% of total revenue[19] - Revenue from the central nervous system disease product portfolio was approximately RMB 1.678 billion, accounting for about 16.9% of total revenue[19] - Revenue from the metabolic and other product portfolio was approximately RMB 1.273 billion, representing about 12.8% of total revenue[19] Shareholder Information - Major shareholder Stellar Infinity holds 3,900,000,000 shares, representing 65.85% of the total shares[127] - Apex Medical, owned by Mr. Cen Jun Da, holds 950,000,000 shares, accounting for 16.04% of the total shares[127] - The company has maintained a public float of 16.21%, which is below the minimum requirement accepted by the Stock Exchange[132] Compliance and Legal Matters - The company has not violated any relevant laws and regulations that would significantly impact its business operations during the year ended December 31, 2021[111] - The company has appropriate directors' liability insurance to protect against potential claims[131] - The independent auditor's report confirms that the consolidated financial statements reflect the company's financial position accurately as of December 31, 2021[150]

Financial Performance - Revenue for the six months ended June 30, 2021, was approximately RMB 4.402 billion, representing a year-on-year growth of about 10.6%[5] - Net profit for the period was approximately RMB 1.291 billion, reflecting a year-on-year increase of about 5.6%[5] - Basic earnings per share were approximately RMB 0.22, up by about 4.1% compared to the same period last year[5] - Gross profit for the same period was RMB 3,985,821 thousand, up from RMB 3,621,653 thousand in 2020, indicating a gross margin improvement[52] - The company reported a net profit attributable to equity holders of the parent of RMB 1,290,590,000 for the six months ended June 30, 2021, compared to RMB 1,221,834,000 in 2020, reflecting a growth of approximately 5.6%[75] - The company declared a dividend of RMB 0.0651 per ordinary share, totaling approximately RMB 380,866,000, compared to no dividend declared in the same period of 2020[74] Research and Development - Research and development expenses amounted to approximately RMB 687 million, an increase of about 44.2% year-on-year, accounting for approximately 15.6% of revenue[5] - The company has over 1,600 researchers across four development centers in Shanghai, Lianyungang, Changzhou, and the United States[22] - The company has submitted eight new drug applications and received approval for six new drugs during the reporting period[22] - The company successfully launched five Class 1 innovative drugs, enhancing its comprehensive competitiveness[28] - The company utilized approximately RMB 1,387,500 thousand from the proceeds of a placement for R&D and technology investments as of June 30, 2021, with a remaining balance of RMB 33,384,500 thousand expected to be fully utilized by 2030[46] Product Sales and Market Position - Sales of innovative drugs accounted for approximately 28.5% of total revenue, compared to 18.9% in the same period last year[5] - Revenue from innovative drug sales increased from 18.9% to approximately 28.5% of total revenue for the six months ended June 30, 2021, compared to the same period in 2020[16] - Revenue from the oncology product portfolio reached approximately RMB 2.125 billion, accounting for about 48.3% of total revenue for the six months ended June 30, 2021[17] - Revenue from the anti-infection product portfolio reached approximately RMB 812 million, accounting for about 18.4% of total revenue[19] - Revenue from the central nervous system disease product portfolio reached approximately RMB 819 million, accounting for about 18.6% of total revenue[21] Financial Position and Cash Flow - As of June 30, 2021, the company had cash and bank deposits of RMB 14.342 billion, up from RMB 4.285 billion on December 31, 2020[26] - The company's asset-liability ratio was approximately 27.0% as of June 30, 2021, compared to 14.0% on December 31, 2020[26] - The company achieved a net cash inflow from operating activities of approximately RMB 1.084 billion for the six months ended June 30, 2021[25] - Cash and bank balances surged to RMB 14,342,093,000, up from RMB 4,284,970,000, representing a remarkable increase of approximately 234%[56] - The company reported a significant increase in cash and bank balances, totaling RMB 14,342,093 thousand as of June 30, 2021, compared to RMB 4,284,970 thousand at the end of 2020, marking a growth of 234.5%[91] Corporate Governance and Social Responsibility - The company established an Environmental, Social, and Governance (ESG) Committee to guide and develop its ESG vision and strategies[15] - The company was awarded the "Outstanding Corporate Social Responsibility" by the China Pharmaceutical Industry Information Center in 2019[10] - The company received the "Green Enterprise Management Award" in 2019, highlighting its commitment to sustainability[10] - The company has complied with the corporate governance code, except for specific provisions regarding the separation of roles between the chairman and CEO[41] Financing Activities - In January 2021, the company successfully issued and listed $600 million zero-coupon convertible bonds due in 2026, which could convert into approximately 77,529,000 shares, representing about 1.31% of the company's issued share capital as of January 8, 2021[13] - The company issued USD 600 million zero-coupon convertible bonds due in 2026, with net proceeds of approximately USD 595.65 million allocated for R&D and facility upgrades[45] - The company reported a total of RMB 3,786,595,000 for convertible bonds as of June 30, 2021, which includes both the debt and embedded derivative components[102] Employee and Management Information - Employee costs for the six months ended June 30, 2021, were approximately RMB 1.109 billion, which includes salaries and social insurance[27] - The company employed a total of 12,030 full-time employees as of June 30, 2021[27] - Total remuneration for key management personnel increased to RMB 53,657,000 for the six months ended June 30, 2021, up from RMB 36,119,000 in the same period of 2020, marking a 48.7% increase[98] Significant Events and Future Outlook - The company is focused on enhancing its professional marketing capabilities to promote understanding of its innovative drugs among healthcare professionals[7] - The company aims to expand its business pipeline and improve overall operational efficiency through advanced management concepts and tools[7] - The company is focused on accelerating innovation and transformation in response to the evolving policy and market environment[28] - The company has established a partnership with SCYNEXIS, Inc. to exclusively develop and commercialize Ibrexafungerp in China, enhancing its position in the anti-infection treatment sector[13]

R&D and Innovation - The company launched 10 new drugs in domestic and international markets during the year, including the innovative drug Amivantamab (Ameile) and three first generic drugs[4]. - The company submitted 23 new drug applications, including the innovative drug Aemitriptyline and the biologic drug Inebilizumab[4]. - The company has been recognized for its R&D efforts, receiving awards such as the National Science and Technology Award (Second Class) from the State Council in 2013 and 2014[6]. - The company’s innovative drug Amivantamab was approved for the treatment of locally advanced or metastatic non-small cell lung cancer (NSCLC) in March 2020[8]. - The company has increased its R&D investment year by year, establishing a comprehensive R&D platform and proprietary technologies[4]. - The company was awarded the title of "Best Industrial Enterprise for R&D Product Line" by the China Pharmaceutical Industry Information Center in 2020[8]. - The company has received drug registration approvals for multiple new products, including "SGLT2 Inhibitor" and "DPP-4 Inhibitor" for type 2 diabetes treatment, enhancing its product line[18]. - The company has obtained clinical trial notifications for several innovative drugs, indicating a strong pipeline for future product development[18]. - The innovative drug "Paliperidone Orally Disintegrating Film" received drug registration approval, expanding the central nervous system product line[18]. - The company aims to enhance its market presence through the introduction of new products and strategic partnerships[19]. - The company plans to continue focusing on innovation and expanding its product pipeline to drive future growth[14]. - The company has over 1,600 researchers across three development centers, focusing on new product development in oncology, anti-infection, CNS diseases, and diabetes[25]. Financial Performance - In 2020, the company recorded revenue of approximately RMB 8.69 billion, a slight increase of 0.1% compared to the previous year[16]. - The net profit for 2020 was approximately RMB 2.57 billion, reflecting a growth of 0.5% year-on-year[16]. - The earnings per share (EPS) was approximately RMB 0.44, a decrease of 6.3% compared to the previous year[16]. - The total assets increased to RMB 20.79 billion in 2020, up from RMB 19.58 billion in 2019[12]. - The total liabilities decreased significantly to RMB 2.92 billion in 2020, compared to RMB 6.53 billion in 2019[12]. - The company reported a total comprehensive income of RMB 1,590,713 thousand for 2020, down from RMB 2,742,028 thousand in 2019, a decline of 42.1%[142]. - The company reported a pre-tax profit of RMB 3,098,299,000, compared to RMB 3,000,925,000 in the previous year[152]. - The net cash flow from operating activities was RMB 2,390,479,000, down from RMB 3,329,689,000 in 2019[152]. - The company reported a loss on the sale of property, plant, and equipment of RMB 39,000, compared to RMB 1,291,000 in the previous year[152]. - The company’s retained earnings as of December 31, 2020, were RMB 17,875,598,000, an increase from RMB 13,044,322,000 in 2019[150]. Corporate Governance - The board of directors consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[36]. - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2020, ensuring compliance with applicable accounting standards and listing rules[52]. - The company has established professional committees, including the audit committee, remuneration committee, and strategy and development committee, to operate under defined terms of reference[51]. - The company has a governance policy that is regularly reviewed to ensure compliance with corporate governance codes[42]. - The board structure includes a separation of roles between the chairman and the CEO, although currently, the same person holds both positions[42]. - The company encourages ongoing professional development for directors to keep their knowledge and skills updated[47]. - The board confirmed its responsibility for preparing the financial statements, ensuring they reflect the true and fair financial position of the company[65]. - The company has a robust governance structure with independent directors actively overseeing compliance and operational integrity[98]. Social Responsibility and Community Engagement - The company actively engaged in charity efforts during the COVID-19 pandemic, donating resources and funds to affected areas[16]. - The company has received various accolades for its commitment to social responsibility and green supply chain management[8]. - The company made charitable donations totaling approximately RMB 48.84 million during the review year[95]. Market and Product Strategy - Revenue from the oncology product portfolio reached approximately RMB 4 billion, accounting for about 46.0% of the total revenue[20]. - Revenue from the anti-infection product portfolio reached approximately RMB 1.794 billion, accounting for about 20.7% of total revenue[22]. - Revenue from the central nervous system disease product portfolio reached approximately RMB 1.333 billion, accounting for about 15.3% of total revenue[23]. - Revenue from the metabolic and other fields product portfolio reached approximately RMB 1.563 billion, accounting for about 18.0% of total revenue[24]. - The company is focusing on high-incidence solid tumors and hematological malignancies in its oncology strategy[20]. Shareholder and Financial Structure - The company reported a proposed final dividend of RMB 0.0651 per share for the year ended December 31, 2020, compared to no dividend in 2019[78]. - The total remuneration paid to the external auditor, Ernst & Young, was RMB 3,760,000, which includes RMB 3,079,000 for audit services and RMB 681,000 for non-audit services[69]. - The company has a significant ownership structure, with Ms. Zhong Huijuan and Ms. Sun Yuan each holding 3,900,000,000 shares, representing 65.89% of the total shares issued as of December 31, 2020[105]. - The company maintained a lower public float of 16.21% as permitted by the Stock Exchange[115]. - The company has not purchased, sold, or redeemed any of its listed securities during the review year[91]. Financial Reporting and Compliance - The financial statements are prepared based on historical cost principles, with certain financial assets measured at fair value[159]. - The consolidated financial statements include the company and its subsidiaries for the year ended December 31, 2020, with consistent accounting policies applied[160]. - The group has established policies regarding related parties, which include individuals with control or significant influence over the group and entities that are members of the same group[172]. - The audit report was issued on March 30, 2021, by Ernst & Young, indicating compliance with relevant ethical requirements[138]. - The company has confirmed compliance with relevant laws and regulations in China regarding drug research, production, and distribution, with no significant violations reported for the year ending December 31, 2020[97].