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 就 因 本 公 告 全部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責 任。 YSB Inc. 藥師幫股份有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：9885） 截 至2024年6月30日止六個月 中期業績公告 藥師幫股份有限公司（「本公司」，連 同 其 附 屬 公 司 及 綜 合 聯 屬 實 體 統 稱「本 集 團」）董 事（「董 事」）會（「董事會」）欣然宣佈本集團截至2024年6月30日止六個月（「報 告 期」）的 未 經 審 計 中 期 業 績。該 等 中 期 業 績 已 由 本 公 司 審 計 委 員 會（「審計委員 會」）及本公司審計師德勤 • 關黃陳方會計師行（「審計師」）審 閱。 除 另 有 界 定 者 外，本 公 告 所 用 詞 彙 與 本 公 司 日 期 為2023年6月15日的招股章程 （「招股章程」）所 界 定 者 具 相 同 涵 義。 摘 要 | --- ...

欢迎各位投资者参加华研药联合录影中举办的赛艇商客会本场会议我们很荣幸是邀请到了药师帮的塞封陈总然后跟我们去做交流我是会议的主持人华研药团队的赛艇商客会跟我一同在线的还有我们首席财务双方老师那今天的这场交流的话我们还是做分为两部分第一部分的话我会先把时间交给陈总请陈总帮我们去做一个业务的回顾 那后面的话呢我们会接触跟提问然后我这边会去做提问和互动交流那首先先把时间交给陈总吧然后来先做一个介绍好的谢谢谢谢大家今天来参加我们的这个交流会我还是首先花一部分时间介绍一下我们公司的情况 因为里面有一些投资者朋友我们看到之前也参加过我们的一对一或者一对多的交流所以我前面部分会相对简要一些如果有一些问题的话后面部分有需要的话我再展开首先简单来讲我们公司是一个是一家专注在中国的院外医药B2B领域的这么一家公司 我们是通过做平台的这个B2B的抽合交易以及自营的B2B的这个交易来进行我们的这个业务的院外医药市场呢现在的规模大概一年在B端2B端有七千多亿的规模大概占到整个中国医药院内院外总和的40%左右 那我们去年的大概470亿的总的成交的GMB又占到整个院外部分的大概百分之六点几啊那么我们会预计未来几年的院外会持续的保持增速高于院 ...

Summary of Conference Call Company and Industry - The conference call involved Huayan Pharmaceutical and its collaboration with Yaoshi Bang, indicating a focus on the pharmaceutical industry and its strategies. Core Points and Arguments - The meeting was hosted by Huayan Pharmaceutical's team leader, Chen Jiawei, and featured a presentation by CEO Chen from Yaoshi Bang, highlighting a business review and strategic insights [1]. Other Important Content - The conference was structured into two parts, with the first part dedicated to the business review by the CEO, suggesting a comprehensive analysis of past performance and future strategies [1].

首先花一部分时间介绍一下我们公司情况因为里面有一些这个投资者朋友呢呃我们看到之前也参加过我们的一对一或者一对多的交流所以呢我前面部分会相对简要一些如果有有些问题的话后面部分有需要的话我再展开啊嗯首先简单来讲呢我们公司是一个 这家这个专注在中国的院外医药B2B领域的这么一家公司我们是通过做平台的这个B2B的撮合交易以及自营的B2B的这个交易来进行我们的这个业务的院外医药市场的现在的规模大概一年在B端B端有七千多亿的规模 大概占到整个中国医药院内院外总和的40%左右那我们去年的大概470亿的总的成交的GMB又占到整个院外部分的大概6点几%那么我们会预计未来几年的院外会持续的保持增速高于院内所以我们会聚焦在院外市场并且院外呢我们一直认为都是相对来讲更加的市场化的 那么院外在未来几年的会增长到跟院内差不多超过一万亿的这个规模但院外呢他有一些自有的一些特点跟院内相比因为院内呢这个相对的主体他的下游的需求主要是集中在可能这个一万多家医院特别是几千家比较大的医院但是从院外来讲呢首先主体特别的众多下游有三十多万家的连锁的门店 26万家的单体的药店所以加起来药店的门店数就有六十多万家除此之外呢还有将近一百万家的基层医疗机构这个 ...

Financial Performance - Total revenue for 2023 reached RMB 16,972,276 thousand, an increase of 18.9% from RMB 14,274,810 thousand in 2022[8] - Gross profit for the year was RMB 1,740,923 thousand, reflecting a growth of 21.3% compared to RMB 1,434,717 thousand in the previous year[8] - The company reported a net loss of RMB (3,206,507) thousand, which is a 113.8% increase in losses from RMB (1,500,038) thousand in 2022[8] - Adjusted net profit for the year was RMB 130,542 thousand, a significant recovery from an adjusted loss of RMB (124,856) thousand in the previous year[8] - The group's cost of sales increased by 18.6% from RMB 12,840.1 million for the year ended December 31, 2022, to RMB 15,231.4 million for the year ended December 31, 2023, primarily due to revenue growth and business expansion[39] - Gross profit rose significantly by 21.3% from RMB 1,434.7 million for the year ended December 31, 2022, to RMB 1,740.9 million for the year ended December 31, 2023, with the gross margin increasing from 10.1% to 10.3%[41] - The net loss for the group increased from RMB 1,500.0 million for the year ended December 31, 2022, to RMB 3,206.5 million for the year ended December 31, 2023[50] - The adjusted net profit for the year ended December 31, 2023, was RMB 130.5 million, a significant improvement from the adjusted net loss of RMB 124.9 million in the same period of 2022, marking a reduction in loss of RMB 255.4 million[52] Business Growth and Operations - The total Gross Merchandise Volume (GMV) reached RMB 46,912 million, representing a 24.0% increase from RMB 37,833 million in 2022[8][9] - The self-operated business generated RMB 16,036,245 thousand in revenue, up 18.6% from RMB 13,519,017 thousand[8] - Platform business revenue increased by 25.8% to RMB 873,119 thousand from RMB 694,204 thousand[8] - The cumulative registered buyers exceeded 650,000, including approximately 401,000 pharmacies and 246,000 grassroots medical institutions[16] - The average monthly active buyers reached 367,000, a year-on-year increase of 19.0%[16] - The average monthly paying buyers increased to 343,000, reflecting a year-on-year growth of 21.1%[16] - The GMV from third-party merchants on the platform was RMB 28,465 million, accounting for 60.7% of total GMV, with a year-on-year growth of 25.8%[17] - The number of SKUs available for buyers reached approximately 3.6 million, with a significant increase in medical health product SKUs, growing over 50% year-on-year[17] - The company aims for a GMV scale of RMB 100 billion in the next 2-3 years, focusing on upstream layout and digital technology to enhance supply chain capabilities[13] Strategic Initiatives - The company aims to enhance the synergy between platform and self-operated businesses to create a diversified pharmaceutical health ecosystem[10] - The "Three-party Merchant Support Program" was implemented to improve the operational capabilities of upstream sellers on the platform[10] - The company is committed to digital transformation in the outpatient pharmaceutical service industry, focusing on user needs and supply chain optimization[10] - The company plans to enhance operational support and digital marketing strategies for upstream sellers, focusing on expanding the variety of traditional Chinese medicine products[35] - The company aims to strengthen its intelligent supply chain system and improve logistics to meet customer demands for a wider range of products[35] - The company will invest in technology resources to optimize platform efficiency and plans to deploy tens of thousands of digital testing devices nationwide for grassroots medical services[35] - The company intends to explore and evaluate investment and acquisition opportunities in the healthcare sector to enhance competitiveness and brand influence[36] Supply Chain and Logistics - The company established two new warehouses, each approximately 5,000 square meters, to enhance supply chain efficiency and service quality[21] - The company has over 10,000 suppliers in its self-operated business, an increase of over 1,000 suppliers compared to the previous year[21] - The company has established partnerships with over 12,000 grassroots medical institutions, enhancing its user base and service offerings[24] - The company sold and installed a total of 65 units of its "micro warehouse" system during the reporting period, expanding its product matrix[27] Employee and Governance - The company has a total of 6,306 employees as of December 31, 2023, an increase from 5,916 employees in 2022[66] - The total employee compensation cost for the year was RMB 1,064.3 million, an increase from RMB 988.6 million in 2022, with the percentage of total revenue decreasing from 6.9% to 6.3%[66] - The company emphasizes the importance of high standards of corporate governance to protect shareholder interests and enhance corporate value[156] - The board consists of three independent non-executive directors, meeting the requirement of at least three independent directors as per listing rules[163] - The company has established a remuneration committee to assist the board in formulating compensation policies[96] Risk Management and Compliance - The company recognizes the importance of risk management for operational success and is committed to maintaining and improving its risk management policies and procedures[191] - The company has no significant uncertainties affecting its ability to continue as a going concern, as confirmed by the board[188] - The company has implemented internal procedures to address anti-corruption and anti-bribery, including strict policies against accepting gifts from third parties[200] - The internal audit department conducts evaluations of potential corruption and bribery risks at least annually[200] Shareholder Information - The company’s share premium as of December 31, 2023, amounted to RMB 9,370.4 million[85] - The board of directors has not recommended the distribution of a final dividend for the reporting period[84] - The company has not declared any dividends or distributions to shareholders of Guangzhou Sudao or Guangzhou Yaobang during the reporting period[106] - The company has adopted two share incentive plans during the reporting period: the 2019 Share Incentive Plan and the 2023 Share Incentive Plan, with a total of 9,631,000 new shares issued under these plans, representing approximately 2.49% of the company's weighted average issued share capital[142] Technology and Data Security - The company has implemented various encryption technologies to protect sensitive data and conducts regular data backup and recovery tests to minimize data loss risks[194] - A systematic account authorization management mechanism has been established, with regular audits of account statuses and security configuration assessments of databases and servers[195] - The internal control team collaborates closely with business departments to execute risk assessments and improve the efficiency of business processes[196] Social Responsibility - The company will maintain its commitment to social responsibility by supporting rural revitalization and improving healthcare access through various initiatives[34] - The company is committed to enhancing employee welfare and promoting sustainable growth as part of its social responsibility initiatives[90]

Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 16,972,276, representing an 18.9% increase from RMB 14,274,810 in 2022[2]. - The adjusted net profit for the year was RMB 130,542, compared to a loss of RMB 124,856 in the previous year, indicating a significant turnaround[2]. - The total Gross Merchandise Volume (GMV) reached RMB 1,740,923, up 21.3% from RMB 1,434,717 in 2022[2]. - The total GMV reached RMB 46,912 million, representing a year-on-year growth of 24.0%[11]. - The revenue from the self-operated business increased significantly from RMB 13,519.0 million for the year ended December 31, 2022, to RMB 16,036.2 million for the year ended December 31, 2023, primarily due to an expanded buyer base and increased buyer participation[32]. - The revenue from the platform business rose by 25.8% from RMB 694.2 million in 2022 to RMB 873.1 million in 2023, driven by the expansion of seller and buyer groups[32]. - The company reported a net loss of RMB 3,206,507 thousand for the year ended December 31, 2023, compared to a net loss of RMB 1,500,038 thousand in 2022[73]. - The adjusted net profit margin for the year ended December 31, 2023, was 0.8%, compared to 0.9% in 2022[47]. Customer and Market Growth - The cumulative registered buyer count exceeded 650,000, including approximately 401,000 pharmacies and 246,000 grassroots medical institutions[11]. - The average monthly active buyer count was 367,000, a year-on-year increase of 19.0%[11]. - The average monthly paying buyer count reached 343,000, reflecting a year-on-year growth of 21.1%[11]. - The company has seen a doubling in the number of customers and business scale in the traditional Chinese medicine tablet sector compared to 2022[6]. - About 50% of the platform's paying users are medical insurance designated stores, contributing over 60% of the GMV[14]. Operational Efficiency and Supply Chain - The company has established a digital supply chain system with 21 cities and 22 warehouses, enhancing operational efficiency and service quality[6]. - The company aims to improve same-city delivery efficiency, achieving half-day or same-day delivery in trial cities to reduce inventory pressure for downstream buyers[6]. - The average delivery time for orders to cities is about 40 hours and about 50 hours to towns, improving operational efficiency for pharmacies and healthcare institutions[16]. - The company has launched hundreds of logistics routes in provincial capital cities, achieving same-day delivery for many orders[16]. - The average number of orders per paying buyer rose from 27.3 to 29.6, an increase of 8.7%[11]. Product and Service Development - The platform offers approximately 3.6 million SKUs, with a significant increase of over 50% in the number of medical health product SKUs compared to the previous year[13]. - The platform provided over 110,000 SKUs of traditional Chinese medicine tablets in 2023, achieving sales of approximately RMB 13 million, representing a year-on-year growth of 113%[13]. - The company has completed the delivery of 60 product varieties under its own brand "Le Medicine Master," with 5 varieties achieving sales exceeding RMB 10 million, covering over 200,000 customers[18]. - The company has sold and installed 65 units of its self-developed "Micro Warehouse" system, which provides 24-hour uninterrupted service to pharmacies[20]. Strategic Initiatives and Future Plans - The company aims for a GMV scale of RMB 100 billion in the next 2-3 years, focusing on upstream layout and digital technology application[8]. - The company plans to deepen collaboration with industry participants to accelerate the digital transformation of the outpatient pharmaceutical industry[29]. - The company intends to invest in tens of thousands of digital testing devices nationwide to provide cost-effective and technologically advanced healthcare solutions[31]. - The company will continue to explore investment and acquisition opportunities in the pharmaceutical health sector to enhance its competitive edge[31]. Corporate Governance and Compliance - The company has complied with the Corporate Governance Code since its listing on June 28, 2023, and has held fewer than four board meetings during the reporting period[62]. - The Audit Committee has reviewed the audited consolidated financial statements for the year ending December 31, 2023, and discussed accounting policies and internal controls with the management[65]. - There are no significant litigations or arbitrations involving the group as of December 31, 2023[68]. - The company has implemented a 2023 share incentive plan, during which 270,000 shares were repurchased on the stock exchange[67]. Employee and Labor Relations - The total employee compensation cost for the year ended December 31, 2023, was RMB 1,064.3 million, an increase from RMB 988.6 million for the year ended December 31, 2022, with the percentage of total income decreasing from 6.9% to 6.3%[57]. - The company had a total of 6,306 employees as of December 31, 2023, with the largest segments being sales and marketing (2,988 employees) and operations (2,198 employees)[56]. - The company did not encounter any significant labor disputes or difficulties in hiring employees during the reporting period[57]. Financial Position and Cash Flow - Cash and cash equivalents decreased by 10.7% from RMB 835.4 million as of December 31, 2022, to RMB 745.7 million as of December 31, 2023, primarily due to increased use of notes payable for upstream supplier payments[48]. - Net cash generated from operating activities for the year ended December 31, 2023, was RMB 451.2 million, compared to RMB 98.2 million in 2022[49]. - The company recorded a net cash outflow from investing activities of RMB 792.9 million for the year ended December 31, 2023, compared to a net cash inflow of RMB 41.1 million in 2022[49]. - The capital debt ratio was 3.1% as of December 31, 2023, due to bank borrowings arising from bill discounting, compared to zero as of December 31, 2022[55]. Social Responsibility and Community Engagement - The company actively practices corporate social responsibility by ensuring drug supply and safety, supporting rural revitalization, and engaging in educational philanthropy[27]. - The company has received recognition from the Guangzhou Market Supervision Administration for its contributions to rural revitalization efforts[27]. - The company is committed to improving the educational environment in rural areas through donations to foundations[28].

Financial Performance - Revenue for the six months ended June 30, 2023, reached RMB 7,968,747 thousand, an increase of 18.6% from RMB 6,719,500 thousand in the same period last year[21]. - Gross profit for the same period was RMB 817,177 thousand, reflecting a 31.3% increase compared to RMB 622,327 thousand in the previous year[21]. - The company reported a net loss of RMB (3,176,580) thousand for the period, a significant increase from RMB (644,330) thousand in the previous year[21]. - The company's revenue for the six months ended June 30, 2023, was RMB 7,968.7 million, with a gross profit of RMB 817.2 million, resulting in a gross margin of 10.3%, up from 9.3% in the same period of 2022[24]. - Revenue from the self-operated business increased significantly from RMB 6,408.3 million for the six months ended June 30, 2022, to RMB 7,521.8 million for the same period in 2023, driven by an expanded buyer base and increased buyer engagement[24]. - Platform business revenue rose by 50.6% from RMB 276.6 million to RMB 416.6 million, with GMV increasing from RMB 9.2 billion to RMB 13.5 billion[24]. - The company reported a total loss and comprehensive expenses of RMB 3,168,595 thousand for the period[96]. - The group reported a loss of RMB 3,168,595,000 for the six months ended June 30, 2023, compared to a loss of RMB 635,776,000 for the same period in 2022[119]. User Engagement and Growth - The company's total GMV reached RMB 22,041 million, representing a year-on-year growth of 34.4%[6]. - The number of registered buyers exceeded 589,000, including approximately 379,000 pharmacies and 211,000 primary medical institutions[6]. - The average monthly active buyers reached 353,000, a year-on-year increase of 17.6%[6]. - The average monthly paying buyers reached 331,000, reflecting a year-on-year growth of 22.5%[6]. - The paid buyer conversion rate increased from 89.9% to 93.6% year-on-year[6]. - The average number of orders per paying buyer increased from 25.2 to 28.4, a year-on-year increase of 12.7%[6]. - The company added approximately 38,000 new users in the grassroots medical sector, compared to 21,000 in the same period last year[18]. Business Operations and Expansion - The GMV from third-party merchants on the platform was RMB 13,541 million, accounting for 61.4% of total GMV, with a year-on-year growth of 46.6%[7]. - The average number of SKUs offered in self-operated business increased by 37.6% to approximately 347,000[8]. - The company has established a national network of 20 smart warehouses across 19 cities to enhance supply chain services[8]. - The company's self-operated business GMV reached RMB 7,973 million, representing a year-on-year growth of 18.8%[6]. - The company has partnered with over 10,700 grassroots medical institutions for its Spectral Cloud Inspection service, enhancing its user base[12]. - The company has signed sales cooperation agreements for its small micro-warehouse in 23 provincial-level administrative regions across the country[13]. - The company provided cloud business services to over 6,000 sellers, with an addition of more than 950 sellers during the reporting period[14]. Financial Position and Cash Flow - As of June 30, 2023, cash and cash equivalents amounted to RMB 985.6 million, an increase from RMB 835.4 million as of December 31, 2022[41]. - The net cash used in investing activities for the six months ended June 30, 2023, was RMB 434.0 million, primarily due to restricted deposits and purchases of financial assets[44]. - The net cash generated from financing activities for the six months ended June 30, 2023, was RMB 217.5 million, mainly attributed to proceeds from the initial public offering of approximately RMB 291.1 million[45]. - The operating cash flow for the six months ended June 30, 2023, was RMB 365.6 million, compared to an outflow of RMB 113.6 million in the same period of 2022[43]. - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 365,565 thousand, compared to a net cash outflow of RMB 113,626 thousand for the same period in 2022[98]. Shareholder Structure and Governance - As of June 30, 2023, major shareholder MIYT Holdings Limited holds 19.82% of the company's shares, totaling 125,316,184 shares[66]. - The company has a significant concentration of ownership among a few major shareholders, which may impact governance and decision-making[70]. - The company is controlled by several entities, with the largest single shareholder being Internet Fund V Pte. Ltd. at 12.65%[70]. - The company has adopted two share incentive plans to motivate employees, namely the 2019 and 2023 share incentive plans[51]. - The company has not granted any shares under the 2023 Share Incentive Plan as of June 30, 2023[77]. Research and Development - Research and development expenses rose by 11.3% from RMB 35.9 million to RMB 39.9 million, mainly due to increased employee-related costs for optimizing and upgrading technology systems[29]. - The company has provided online training to over 240,000 pharmacists and candidates as of June 30, 2023[15]. - Research and development efforts are allocated HKD 53.3 million, expected to be fully utilized by December 2025[63]. Legal and Compliance - The company has established a legal advisory relationship with Fangda Partners for Chinese legal matters[1]. - The company operates under the Securities and Futures Ordinance of Hong Kong[1]. - The company is subject to the International Financial Reporting Standards as issued by the International Accounting Standards Board[1].

[1 -> 29] 各位投资人、分析师,大家上午好欢迎各位参加药师帮股份有限公司2023年中期业绩交流会公司已于8月15日发布了2023年中期业绩报告为让资本市场更加及时和全面了解公司中期业绩的具体情况公司开展此次交流会与大家做一个专题性的交流 [31 -> 58] 药师邦股份有限公司是中国领先的院外数字化医药产业综合服务平台公司于2023年6月28日在港交所主板挂牌上市药师邦通过数字化解决方案链接医药产业链上下游为医药价值链上的参与者建立了安全高效的交易及服务平台 [59 -> 83] 公司以让好医好药普惠可及为使命驱动医药价值产业链整体向高效率和高质量发展本次出席会议的管理层有公司董事会主席兼首席执行官张步震先生公司执行董事兼首席财务官陈飞先生 [85 -> 114] 今天的业绩交流会将分为两个部分会议全程预计一个小时第一部分请公司管理层为大家介绍2023年中期业绩相关情况此环节预计时长30到40分钟第二部分为问答环节投资人可与管理层进行提问交流下面有请公司管理层为大家介绍公司的中期业绩情况 [116 -> 142] 好感谢大家来参加我们钥匙邦2023年上半年的业绩发布会这是我们上市后的第一次业绩发布会我 ...

GMV and Revenue Growth - Total GMV reached RMB 22,041 million, a year-on-year increase of 34.4%[5] - Platform business GMV reached RMB 13,541 million, accounting for 61.4% of total GMV, a year-on-year increase of 46.6%[6] - The self-operated business GMV reached RMB 7,973 million, up 18.8% year-over-year[10] - The company's revenue for the six months ended June 30, 2023, was RMB 7,968.7 million, with a gross profit of RMB 817.2 million and a gross margin of 10.3%, up from 9.3% in the same period last year[21] - The company's self-operated business revenue increased from RMB 6,408.3 million in the first half of 2022 to RMB 7,521.8 million in the first half of 2023, driven by an expanded buyer base and increased buyer engagement[21] - The company's platform business revenue increased by 50.6% from RMB 276.6 million in the first half of 2022 to RMB 416.6 million in the first half of 2023, with GMV growing from RMB 9.2 billion to RMB 13.5 billion[21] - Total revenue for the first half of 2023 reached RMB 7,968,747 thousand, a 18.6% increase compared to RMB 6,719,500 thousand in the same period of 2022[72] - Self-operated business revenue grew to RMB 7,521,784 thousand in H1 2023, up 17.4% from RMB 6,408,347 thousand in H1 2022[72] - Platform business revenue increased to RMB 416,624 thousand in H1 2023, a 50.6% rise from RMB 276,565 thousand in H1 2022[72] Buyer and Seller Metrics - Registered buyers exceeded 589,000, including approximately 379,000 pharmacies and 211,000 primary medical institutions[5] - Monthly active buyers reached 353,000, a year-on-year increase of 17.6%[5] - Monthly paying buyers reached 331,000, a year-on-year increase of 22.5%[5] - The paying rate increased from 89.9% to 93.6% year-on-year[5] - Average monthly orders per paying buyer increased by 12.7% to 28.4 orders[5] - The platform attracted approximately 7,100 sellers and over 589,000 buyers[6] - Buyers could choose from approximately 3.3 million SKUs, including prescription drugs, over-the-counter drugs, and healthcare products[6] - The number of sellers on the company's platform increased from 6,072 as of December 31, 2022, to 7,144 as of June 30, 2023[21] Platform and Self-Operated Business Performance - The average commission rate for the platform business was 3.1% in H1 2022 and 3.2% in H1 2023, with the subsidy rate decreasing from 0.7% to 0.5% over the same period[7] - The company's self-operated business provided an average of 347,000 SKUs per month, representing a 37.6% year-over-year increase[8] - The company's supplier base for self-operated business exceeded 9,500, an increase of over 1,000 compared to the same period last year[10] - The company's brand-first business GMV reached RMB 527 million, a 17.3% year-over-year increase, with over 500 pharmaceutical companies and 1,000 SKUs involved[11] - The company completed spot delivery for 15 product varieties under its own brand "Le Yaoshi," covering over 25,000 customers[11] Supply Chain and Logistics - The company has established a nationwide network of 20 smart warehouses across 19 cities, achieving average delivery times of 40 hours to cities and 50 hours to townships[9] - The smart supply chain system ensures an average order processing time of 3 hours, with inventory turnover days at 28.5 and accounts receivable turnover days at 2.1[17] - The company's micro-warehouse solution, including the new "Lark" model, has been deployed in 23 provincial-level regions, enabling 24-hour unmanned pharmacy services[14] Financial Performance and Metrics - Gross profit rose by 31.3% from RMB 622.3 million in H1 2022 to RMB 817.2 million in H1 2023, with gross margin improving from 9.3% to 10.3%[23] - Platform business gross margin slightly decreased from 83.3% in H1 2022 to 81.8% in H1 2023 due to higher transaction channel fees[23] - Other business gross margin improved from 37.0% in H1 2022 to 49.4% in H1 2023, driven by higher-margin SaaS business growth[23] - Net loss widened significantly from RMB 644.3 million in H1 2022 to RMB 3,176.6 million in H1 2023[31] - Adjusted net profit for the first half of 2023 was RMB 70.2 million, a significant improvement from the adjusted net loss of RMB 94.8 million in the same period of 2022, representing a reduction in loss of RMB 165.0 million[33] - The company recorded its first adjusted net profit in the first half of 2023[33] - The company's adjusted net profit margin for the first half of 2023 was 0.9%, compared to an adjusted net loss margin of 1.4% in the same period of 2022[34] - Net loss for the six months ended June 30, 2023, was RMB 3,176,580 thousand, compared to a net loss of RMB 644,330 thousand in the same period in 2022[60] Cash Flow and Liquidity - Cash and cash equivalents as of June 30, 2023, were RMB 985.6 million, compared to RMB 835.4 million as of December 31, 2022[35] - Net cash generated from operating activities in the first half of 2023 was RMB 365.6 million, compared to a net cash outflow of RMB 113.6 million in the same period of 2022[36] - Net cash used in investing activities in the first half of 2023 was RMB 434.0 million, compared to net cash generated of RMB 352.6 million in the same period of 2022[36] - Net cash generated from financing activities in the first half of 2023 was RMB 217.5 million, compared to RMB 312.4 million in the same period of 2022[36] - The cash conversion cycle improved to -6.3 days in H1 2023, compared to 1.4 days in the same period last year, enhancing liquidity and profitability[17] Business Expansion and Market Penetration - The company's business expansion team consists of over 2,800 members as of June 30, 2023, with each member managing an average of over 130 pharmacies, an increase of 13 pharmacies compared to the same period last year[18] - The company has covered approximately 211,000 users in primary healthcare as of June 30, 2023, with 38,000 new users added during the reporting period, compared to 21,000 new users in the first half of 2022[18] - The company's registered buyers have penetrated 97.6% of counties and 85.2% of townships nationwide[18] - The company plans to leverage its platform advantages to systematically enhance the scale, breadth, and depth of its pharmaceutical distribution business, while continuously expanding new users and product categories[20] - The company aims to accelerate the connection between upstream pharmaceutical companies and downstream pharmacies and clinics through improved warehousing layout and enhanced smart supply chain services[20] Technology and Innovation - SaaS solutions have been provided to over 6,000 sellers (950 new in H1 2023) and approximately 44,000 buyers (4,000 new in H1 2023), improving operational efficiency[15] - Online training programs have been offered to over 240,000 pharmacists and candidates, enhancing service capabilities and brand reputation[16] - R&D expenses increased by 11.3% from RMB 35.9 million in H1 2022 to RMB 39.9 million in H1 2023, driven by system optimization and technology upgrades[26] - The company will continue to innovate and strengthen its technical capabilities and digital solutions, combining online and offline approaches to improve service quality[20] Costs and Expenses - Sales cost increased by 17.3% from RMB 6,097.2 million in H1 2022 to RMB 7,151.6 million in H1 2023, driven by revenue growth and business expansion[22] - Platform business sales cost surged by 64.2% from RMB 46.3 million in H1 2022 to RMB 76.0 million in H1 2023 due to expanded transaction volume[22] - Other business sales cost decreased by 29.5% from RMB 21.8 million in H1 2022 to RMB 15.4 million in H1 2023, mainly due to reduced costs in spectral cloud inspection[22] - Sales and marketing expenses increased by 1.4% from RMB 626.2 million in H1 2022 to RMB 634.9 million in H1 2023, mainly due to expanded business operations[24] - General and administrative expenses rose by 12.6% from RMB 130.1 million in H1 2022 to RMB 146.5 million in H1 2023, primarily due to increased staffing costs[25] - The company's total employee costs for the six months ended June 30, 2023, were RMB 477,579 thousand, up from RMB 457,116 thousand in the same period in 2022[80] Capital and Funding - The company raised additional capital through the partial exercise of the over-allotment option on July 20, 2023[44] - Global offering net proceeds of HKD 242.2 million remain unused as of June 30, 2023, with no changes to the intended use disclosed in the prospectus, and the company expects to fully utilize the remaining funds by December 2025[57] - The company plans to allocate HKD 109.0 million to diversify SKU products and attract more qualified upstream participants in the pharmaceutical distribution business by December 2025[58] - HKD 48.4 million will be used to enhance the company's business development capabilities and efficiency through dedicated digital tools by December 2025[58] - HKD 12.2 million is allocated to strengthen the company's supply chain capabilities by December 2025[58] - HKD 60.5 million will be used to further develop other businesses, including expanding the geographical coverage of the spectral cloud inspection service and increasing the market awareness of micro-warehouses by December 2025[58] - HKD 53.3 million is allocated for research and development, with full utilization expected by December 2025[58] - HKD 19.4 million is reserved for working capital and general corporate purposes, with full utilization expected by December 2025[58] Employee and Organizational Structure - The company had 6,108 employees as of June 30, 2023, with 2,935 in sales and marketing, 2,096 in operations, and 320 in R&D[45] - Total employee compensation costs for the six months ended June 30, 2023, were RMB 477.6 million, compared to RMB 457.1 million in the same period in 2022[46] - The board of directors includes executive directors Mr. Zhang Buzhen and Mr. Chen Fei, non-executive directors Mr. Lin Xinhe and Mr. Zhu Ziyang, and independent non-executive directors Ms. Shao Rong, Mr. Sun Hanhui, and Mr. Zhao Hongqiang[90] Other Financial and Operational Metrics - Downstream order financing products saw a 53.9% YoY increase in cumulative loan issuance to RMB 22 billion, with 5,429 active users and 1.7 million financing orders[17] - The company's cost of inventory recognized as an expense for the six months ended June 30, 2023, was RMB 7,058,555 thousand, an increase from RMB 6,031,007 thousand in the same period in 2022[80] - The company's basic and diluted loss per share for the six months ended June 30, 2023, was calculated based on a weighted average number of ordinary shares of 133,720,060, compared to 125,316,184 in the same period in 2022[82] - The company's trade and other receivables as of June 30, 2023, were RMB 281,511 thousand, a decrease from RMB 503,460 thousand as of December 31, 2022[84] - The company's trade payables as of June 30, 2023, were RMB 1,504,710 thousand, an increase from RMB 1,433,487 thousand as of December 31, 2022[87] - The company issued 1,426,600 ordinary shares at a price of HKD 20 per share on July 25, 2023, due to the partial exercise of the over-allotment option[89] Regulatory and Compliance - The company's subsidiaries in China are subject to a corporate income tax rate of 25%, with Guangzhou Sudao Yi Information Technology Co., Ltd. enjoying a preferential tax rate of 15% as a high-tech enterprise[79] - The company's current tax expense for the six months ended June 30, 2023, was RMB 1,972 thousand, compared to a deferred tax benefit of RMB 165 thousand in the same period in 2022[78] - The company had no significant investments, acquisitions, or disposals during the six months ended June 30, 2023[40][41] - The company had no asset pledges as of June 30, 2023, and no specific future plans for significant investments or capital assets[42] - The capital gearing ratio was zero as of June 30, 2023, due to the absence of interest-bearing borrowings[43] Market and Geographic Presence - The company operates exclusively in China, with all revenue and non-current assets located within the country[75] - Spectrum Cloud Testing has partnered with over 10,700 primary medical institutions as of June 30, 2023, enhancing diagnostic capabilities and service efficiency[13] Foreign Exchange and Risk Management - The company faces foreign exchange risk primarily from bank balances and financial assets denominated in foreign currencies but has not implemented a foreign currency hedging policy[47] - Foreign exchange gains netted RMB 1,110 thousand in H1 2023, significantly lower than RMB 12,399 thousand in H1 2022[77] Dividend and Shareholder Information - The company did not recommend an interim dividend for the six months ended June 30, 2023, consistent with the same period in 2022[59] - The interim results announcement and interim report are published on the HKEX website (www.hkexnews.hk) and the company's website (www.ysbang.cn)[90] - The interim report for the six months ended June 30, 2023, will be published on the HKEX and company websites and will be sent to shareholders in due course[90] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 4,266,313 thousand, an increase from RMB 3,684,991 thousand as of December 31, 2022[61] - Total liabilities as of June 30, 2023, were RMB 2,817,227 thousand, a decrease from RMB 8,375,732 thousand as of December 31, 2022[61] - Net current assets as of June 30, 2023, were RMB 1,449,086 thousand, compared to net current liabilities of RMB 4,690,741 thousand as of December 31, 2022[61] - Non-current assets as of June 30, 2023, were RMB 437,465 thousand, up from RMB 423,749 thousand as of December 31, 2022[61] - The company's equity (deficit) as of June 30, 2023, was RMB 1,780,873 thousand, compared to a deficit of RMB 4,369,710 thousand as of December 31, 2022[62] - The company's deferred tax assets and liabilities related to lease transactions were recognized at RMB 39,760,000 each, with no significant impact on the financial position[70] Other Income and Expenses - Other income, including government subsidies and bank interest, totaled RMB 45,382 thousand in H1 2023, a decrease from RMB 49,745 thousand in H1 2022[76] - Financial expenses for H1 2023 amounted to RMB 4,953 thousand, slightly down from RMB 5,108 thousand in H1 2022[77]