Financial Performance - In 2024, the Company reported revenue of RMB 5,258,919, a decrease of 3.2% compared to RMB 5,430,974 in 2023[15] - The profit before tax for 2024 was RMB 726,229, recovering from a loss of RMB 928,334 in 2023[15] - The profit attributable to owners of the Company for 2024 was RMB 646,742, compared to a loss of RMB 783,258 in 2023[15] - Basic earnings per share for 2024 was RMB 0.44, an improvement from a loss of RMB 0.53 in 2023[15] - The Group achieved a revenue of approximately RMB5,258.9 million and a net profit of approximately RMB624.9 million, marking significant year-on-year growth[27] - The Group achieved an operating revenue of approximately RMB5,258.9 million in 2024, representing a year-on-year decrease of approximately 3.2%[49] - Gross profit increased by approximately 84.9% year-on-year to approximately RMB1,739.3 million, with a gross margin of approximately 33.1%, up by approximately 15.8 percentage points year-on-year[49] - The Group turned from loss into profit, reporting a net profit of approximately RMB624.9 million, with net profit attributable to equity holders of the Company at approximately RMB646.7 million[49] - The Group's overall operating revenue was approximately RMB5,258.9 million, a year-on-year decrease of approximately 3.2%, while gross profit increased by approximately 84.9% to RMB1,739.3 million, with a gross margin of approximately 33.1%[52] - The impairment amount for inventory in 2024 was only approximately RMB7.6 million, significantly lower than RMB855.4 million in 2023, contributing to improved gross profit margins[102] - Finance costs decreased by approximately RMB82.9 million to approximately RMB145.2 million, representing a decrease of approximately 36.3% compared to 2023[106] - Income tax expense for the reporting period was approximately RMB 101.3 million, compared to a tax credit of approximately RMB 126.2 million in 2023[111] Assets and Liabilities - Total assets decreased to RMB 17,343,524 in 2024 from RMB 19,203,417 in 2023, reflecting a decline of 9.7%[16] - Total liabilities also decreased to RMB 5,141,403 in 2024, down from RMB 7,215,040 in 2023, a reduction of 28.8%[16] - The asset-liability ratio was approximately 29.6% as of December 31, 2024, down from approximately 37.6% in 2023[127] - As of December 31, 2024, the group's cash and bank balances were approximately RMB 1,421.8 million, down from approximately RMB 1,765.6 million in 2023[118] - The group recorded short-term loans of approximately RMB 2,367.2 million and long-term loans of approximately RMB 1,081.0 million as of December 31, 2024[119] - The Group's total financial indebtedness decreased to approximately RMB3,544.8 million from RMB5,562.8 million as of December 31, 2023, representing a reduction of about 36.4%[140] - The Group's interest-bearing bank and other borrowings were approximately RMB3,448.2 million as of December 31, 2024, down from RMB5,434.6 million in the previous year, indicating a decrease of approximately 36.5%[140] - The Group's lease liabilities decreased to RMB96.6 million as of December 31, 2024, from RMB128.2 million as of December 31, 2023, a reduction of about 24.6%[140] Business Strategy and Operations - The Company emphasized its commitment to innovation-driven and globalization strategies, enhancing its global marketing network[24] - The Company aims to consolidate its leading position in the international heparin market through a vertically integrated industry chain[24] - The Company has transformed from a local enterprise to a global leader in the heparin field over the past decade[24] - The heparin business, as the core pillar, set a historical best performance with a significant leap in market share due to enhanced local operations and market penetration[28] - The CDMO business exhibited strong growth, forming a "dual-wheel drive" development pattern, enhancing market competitiveness and overall performance[29] - The Group plans to further optimize the vertical integration of the heparin industry chain to enhance product competitiveness and market share[37] - The Group aims to accelerate the clinical progress of the H1710 project and explore more opportunities for innovative drug research and development[37] - The Group will strengthen the diversified operations of SPL and Cytovance to promote sustained growth in CDMO and specialty product businesses[37] - The Group remains cautiously optimistic about its business prospects while focusing on cost control to ensure stable financial benefits and cash flow levels[38] - The Group plans to further optimize the heparin supply chain's vertical integration to enhance product competitiveness and market share[40] - The CDMO business experienced rapid growth during the Reporting Period, with both business revenue and gross margin increasing year-on-year[48] - The Group aims to enhance its global presence and brand influence while increasing market penetration in the heparin industry despite trade protectionist challenges[82] - The Group plans to optimize marketing strategies and improve sales share in the finished dosage form business, targeting growth in Asia-Pacific and Latin America[84] Research and Development - The innovative drug H1710 project completed its IND application in China, marking a breakthrough in the Group's innovation efforts[30] - H1710, a candidate drug targeting heparanase, has shown significant anti-tumor effects in various animal models and received approval for clinical trials from the National Medical Products Administration in February 2025[73] - Oregovomab, an anti-CA125 immunotherapy drug, completed a Phase II clinical trial and is under further evaluation after not meeting its intended objectives in Phase III trials[74] - RVX-208 (Apabetalone) completed Phase III clinical trial (BETonMACE) to reduce major adverse cardiovascular events in high-risk patients, receiving FDA Breakthrough Therapy Designation[79] - The Group is actively exploring cooperation opportunities to accelerate the strategic layout of innovative drugs and diversify commercialization capabilities[76] Market Performance - The annual sales volume of enoxaparin sodium formulations achieved double-digit growth, successfully expanding the global formulation market share[47] - The Group maintained its market share as one of the top two in Europe for enoxaparin sodium formulation, successfully increasing the bid-winning rate to expand market share[56] - In the United States, the Group's sales revenue showed impressive growth, benefiting from a dual strategy of self-operated and agency-driven approaches[57] - The Group obtained market entry licenses in Thailand and New Zealand, enhancing its international market share and creating new sales opportunities[61] - The Group is actively working to increase market share in China while addressing pricing pressures from the national centralized procurement platform[58] Management and Governance - The Group's executive directors have over 30 years of experience in the pharmaceutical industry, contributing to strategic planning and decision-making[142] - The Group's strategic focus includes innovative drugs and CDMO sectors, with active participation from executive directors in formulating and implementing business strategies[149][152] - The Group's management team includes experienced professionals who oversee various aspects of the business, including production capacity, logistics, and human resources[152][149] - Ms. Li Tan has over 30 years of experience in the pharmaceutical industry and is responsible for major decisions and business development activities[155] - Mr. Shan Yu also has over 30 years of experience in the pharmaceutical industry, overseeing capacity, safety, logistics, and external matters[156] - Mr. Zhang Ping has extensive experience in manufacturing and operations, having served as General Manager at Hangzhou Innovax Biotech Co., Ltd. and Head of Industry Affairs at Sanofi, managing seven plants in China[157][161] - Dr. Lu Chuan has been an independent non-executive director since December 2019 and has extensive experience in investment banking and management[158][162] - Mr. Huang Peng, an independent non-executive director, has a Ph.D. in Management and has served as an independent director for multiple companies listed on the Shanghai and Shenzhen Stock Exchanges[164] - Mr. Yi Ming, another independent non-executive director, has a Master's degree in Finance and has held senior management positions in asset management companies[165] - Mr. Zheng Zehui, chairman of the Supervisory Committee, has served as general manager of URIT Medical Electronic Sales Co., Ltd. and has a background in biochemistry[166] - Ms. Tang Haijun has been with the company since February 2001 and serves as a Supervisor, managing the GXP document control department[167] Corporate Actions - The Company completed its initial public offering and listing of its A Shares on the Shenzhen Stock Exchange on May 6, 2010, and its H Shares on the Hong Kong Stock Exchange on July 8, 2020[181] - The Group proposed a final cash dividend of RMB2.5 (tax inclusive) per ten ordinary shares, compared to nil in 2023[187] - The Group has not incurred any additional costs specifically attributable to environmental compliance during the year ended December 31, 2024[191] - The Group has no current plans for significant acquisitions or capital asset investments as of December 31, 2024[138] Reporting and Analysis - A detailed analysis of the Group's revenue and operating profit for the year ended December 31, 2024, is provided in the "Management Discussion and Analysis" section of the annual report[182] - The business review includes discussions on principal risks and uncertainties faced by the Group, as well as an analysis of performance using financial key performance indicators[183] - Important events affecting the Group during the year ended December 31, 2024, are highlighted in the annual report[183] - Future developments in the Group's business are indicated in the annual report[183] - The Group's financial performance indicators and major events impacting the business are discussed in the "Chairman's Statement" and "Management Discussion and Analysis" sections of the annual report[186] - The Group's audited consolidated results for the reporting period are detailed on pages 85 to 86 of the annual report[188] - The Group's reserves and movements for the current and prior years are presented in the consolidated statement of changes in equity on pages 89 to 90 of the annual report[200]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,394,250,050.21, representing a 1.53% increase compared to CNY 1,373,251,921.93 in the same period last year[8] - Net profit attributable to shareholders for Q1 2025 was CNY 156,590,188.54, a 1.00% increase from CNY 155,040,262.39 year-on-year[8] - The net profit after deducting non-recurring gains and losses increased by 20.27% to CNY 188,891,082.26 from CNY 157,052,354.18 in the previous year[8] - The total operating profit for the current period is 178,980,342.21, a decrease of 9.4% from 196,847,737.66 in the previous period[34] - Net profit for the current period is 156,169,189.45, showing a slight increase of 1.0% compared to 154,597,836.94 in the previous period[34] - The company's net profit margin improved, with net profit for the period showing a significant recovery compared to the previous period, although specific figures were not disclosed[33] Cash Flow - The net cash flow from operating activities decreased by 38.21% to CNY 544,031,931.35, down from CNY 880,453,882.15 in the same period last year[8] - The cash flow from operating activities is 544,031,931.35, down 38.3% from 880,453,882.15 in the previous period[39] - The net cash flow from investing activities saw a significant decline of 297.07%, resulting in a negative cash flow of ¥257,551,999.87, mainly due to increased purchases of financial products[19] - The cash flow from investment activities shows a net outflow of 257,551,999.87, compared to a net inflow of 130,688,287.99 in the previous period[40] - The net cash flow from financing activities increased by 103.37% to ¥22,602,544.83, as the amounts borrowed and repaid remained relatively stable compared to the previous year[19] - Net cash flow from financing activities was $22,602,544.83, a significant improvement from a negative $670,833,066.44 in the previous period[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,545,801,889.02, reflecting a 1.17% increase from CNY 17,343,523,964.97 at the end of the previous year[8] - Total liabilities increased to CNY 5,205,766,284.88 from CNY 5,141,403,413.17, reflecting an increase of approximately 1.2%[31] - The equity attributable to shareholders increased by 1.14% to CNY 12,287,013,002.74 from CNY 12,148,672,778.24 year-on-year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,367, with the largest shareholder, Shenzhen Lerun Technology Co., Ltd., holding 32.31% of shares[22] - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Xiamen Jintian Soil Investment Partnership, holding 27.81%[22] - The largest shareholder, Shenzhen Lerun Technology Co., Ltd., has a total of 474,029,899 shares, while the second-largest holds 408,041,280 shares[23] - The company has not reported any changes in the participation of the top ten shareholders in margin trading or securities lending activities compared to the previous period[24] - There are no preferred shareholders or related changes reported in the current period[24] Investment and Expenses - The company reported a significant increase in investment income, rising by 132.79% to CNY 20,292,064.76 from a loss of CNY 61,890,173.43 in the previous year[17] - Research and development expenses were CNY 39,993,799.57, up from CNY 35,294,968.25, indicating an increase of about 19.2%[33] - The company experienced a 190.08% decrease in financial expenses, resulting in a gain of CNY 56,508,230.69 due to foreign exchange gains[17] - The deferred income increased by 65.95% to CNY 45,279,690.29, primarily due to government subsidies received during the reporting period[15] - The company reported a substantial increase in asset disposal income, which rose by 4404.34% to CNY 1,288,820.50 from CNY 28,612.85 in the previous year[17] Inventory and Receivables - Accounts receivable increased to CNY 1,382,358,370.19 from CNY 1,178,554,557.22, showing a rise of about 17.3%[28] - Inventory decreased to CNY 4,952,734,323.44 from CNY 5,393,947,174.38, a decline of approximately 8.2%[28] Cash and Equivalents - The company's cash and cash equivalents at the end of the period were CNY 2,000,842,827.21, up from CNY 1,689,041,495.34 at the beginning of the period, indicating a growth of approximately 18.4%[28] - The ending balance of cash and cash equivalents was $1,740,464,878.53, down from $2,108,383,601.96 in the prior period[41] - The net increase in cash and cash equivalents was $318,638,044.68, slightly lower than $342,738,890.08 in the previous period[41] Other Financial Metrics - The total comprehensive income for the current period is 137,915,052.34, a decrease of 8.1% from 150,135,056.48 in the previous period[36] - Basic and diluted earnings per share for the current period are both 0.1067, an increase from 0.1057 in the previous period[36] - The company recorded a foreign exchange loss of 47,399,165.67 in other comprehensive income, contrasting with a gain of 3,002,651.97 in the previous period[35] - The company received cash from sales of goods and services totaling 1,327,258,705.88, down 11.1% from 1,493,180,137.55 in the previous period[39] - The company reported a decrease in cash received from other operating activities to 47,510,298.94, down from 97,379,140.23 in the previous period[39] - The company’s net impairment loss on assets decreased significantly to 44,094.91 from 33,754,398.03 in the previous period[34] Audit and Reliability - The first quarter report was not audited, indicating potential limitations in financial reliability[42]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 1. 收入約為人民幣5,258.9百萬元（二零二三年：約人民幣5,431.0百萬元）； 2. 毛利約為人民幣1,739.3百萬元（二零二三年：約人民幣940.9百萬元）；毛利 率約為33.1%（二零二三年：約17.3%）； 3. 製劑業務銷售收入約為人民幣2,986.1百萬元（二零二三年：約人民幣2,979.0 百萬元）；毛利率約為31.8%（二零二三年：約43.1%）； 4. API業務銷售收入約為人民幣1,065.7百萬元（二零二三年：約人民幣1,307.3 百萬元）；毛利率約為38.6%（二零二三年：約-42.8%）； 5. CDMO業務銷售收入約為人民幣1,033.8百萬元（二零二三年：約人民幣 967.0百萬元）；毛利率約為32.9%（二零二三年：約22.0%）； 6. 母公司權益擁有人應佔溢利約為人民幣646.7百萬元（二零二三年：母公司 權益擁有人應佔虧損約為人民幣783.3百萬元）；及 ...

Financial Performance - For Q3 2024, the company's operating revenue was RMB 1,231,523,140.11, a decrease of 8.80% compared to the same period last year[4] - The net profit attributable to shareholders was RMB 116,430,360.57, representing a significant increase of 487.43% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 99,358,854.26, up 1,631.43% from the previous year[4] - The company reported a basic earnings per share of RMB 0.0794, an increase of 488.15% compared to the same period last year[4] - Net profit rose by 449.08% to ¥779,059,287.68, reflecting the overall improvement in operating profit[10] - Basic and diluted earnings per share for the current period were both RMB 0.5317, compared to RMB 0.0976 in the previous period, marking an increase of approximately 444.43%[23] - The total comprehensive income for the current period was RMB 713,437,124.04, compared to RMB 242,978,158.09 in the previous period, indicating a growth of approximately 194.00%[23] Cash Flow - The cash flow from operating activities for the year-to-date was RMB 1,792,139,231.56, an increase of 865.91% compared to the same period last year[4] - Cash flow from operating activities improved significantly, with a net increase of 865.91% to ¥1,792,139,231.56, driven by higher cash receipts from sales[11] - Operating cash flow for the current period is RMB 1,792,139,231.56, compared to a negative cash flow of RMB -233,988,970.92 in the previous period, indicating a significant recovery[25] - Cash received from sales of goods and services decreased to RMB 4,299,443,691.71 from RMB 4,603,550,675.54, a decline of approximately 6.6%[25] - Cash paid for purchasing goods and services significantly decreased to RMB 1,477,390,948.62 from RMB 3,633,091,884.41, a reduction of about 59.3%[25] - Cash inflow from investment activities decreased to RMB 1,515,558,196.54 from RMB 2,301,332,024.93, reflecting a decline of approximately 34%[26] - Net cash flow from financing activities shows a significant outflow of RMB -1,345,954,669.90, worsening from RMB -672,098,505.03 in the previous period[26] - The total cash and cash equivalents at the end of the period increased to RMB 1,995,479,199.24, up from RMB 1,757,779,083.22 in the previous period[27] Assets and Liabilities - The total assets at the end of the reporting period were RMB 18,121,417,326.69, a decrease of 5.63% from the end of the previous year[4] - Total non-current assets decreased to RMB 7,749,434,630.32, down 9.93% from RMB 8,599,510,606.98 at the beginning of the period[18] - Total liabilities decreased to RMB 5,906,888,588.09, down 18.11% from RMB 7,215,037,414.42 at the beginning of the period[20] - The total equity attributable to shareholders increased to RMB 12,140,384,965.66, reflecting a growth of 1.91% year-on-year[4] - The total equity attributable to shareholders increased to RMB 12,140,384,965.66, up 1.91% from RMB 11,913,149,195.32 at the beginning of the period[20] Investments - The company experienced a 102.03% increase in trading financial assets, totaling RMB 836,795,932.21, primarily due to increased investments in financial products[8] - Long-term equity investments decreased by 50.58% to RMB 496,236,843.73, mainly due to the disposal of shares in HighTide Therapeutics, Inc.[8] - Investment income increased by 251.52% to ¥416,440,156.93, primarily from the disposal of equity and fund investments[9] - The company reported an investment income of RMB 416,440,156.93, a turnaround from a loss of RMB 274,834,971.73 in the previous period[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,499, with the top ten shareholders holding significant stakes[12] - Shenzhen Lerun Technology Co., Ltd. held 32.31% of shares, while Xiamen Jintian Tuti Investment Partnership held 27.81%[12] - The company has a strong shareholder base, with the top three shareholders collectively owning over 75% of the shares[12] Expenses - Sales expenses decreased by 30.26% to ¥280,983,594.46 due to reduced marketing costs[9] - Research and development expenses decreased to RMB 129,976,981.05 from RMB 152,223,825.20, a reduction of about 14.58%[21] - The company’s tax expenses increased to RMB 108,143,486.10 from RMB 39,289,379.06, reflecting an increase of approximately 175.00%[22] Other Information - The company reported a significant increase in non-operating income due to government subsidies amounting to RMB 5,108,928.12 for Q3 2024[5] - The company experienced a foreign exchange loss of RMB 60,898,382.20, contrasting with a gain of RMB 103,834,456.09 in the previous period[23] - The impact of exchange rate changes on cash and cash equivalents was a positive RMB 9,871,785.63, compared to RMB 31,821,093.12 in the previous period[27] - The company did not undergo an audit for the third quarter report[28]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 2,828,657, representing a 4.5% increase from RMB 2,706,246 in the same period of 2023[7]. - Gross profit for the same period was RMB 999,274, with a gross profit margin of 35.3%, slightly down from 35.4% in 2023[7]. - Profit attributable to equity holders of the parent surged to RMB 663,684, a significant increase of 438.1% compared to RMB 123,349 in 2023[7]. - The Group achieved sales revenue of RMB 2,828.7 million, a year-on-year increase of 4.5% compared to RMB 2,706.2 million in the same period last year[12]. - Gross profit for the Group was RMB 999.3 million, representing a 4.2% increase from RMB 959.0 million year-on-year, with a gross profit margin of 35.3%[12]. - Profit before tax increased significantly to RMB 767.6 million, compared to RMB 167.7 million in the prior year, marking a growth of 357.5%[103]. - Profit for the period reached RMB 662.8 million, up from RMB 122.4 million, reflecting a year-over-year increase of 441.5%[103]. - Basic earnings per share attributable to ordinary equity holders of the parent was RMB 0.45, compared to RMB 0.08 in the same period last year[103]. Cash Flow and Liquidity - Cash and cash equivalents rose to RMB 2,202,718, reflecting a 24.8% increase from RMB 1,765,645 in the previous year[7]. - Net cash flows generated from operating activities amounted to RMB 1,294,842, a recovery from a cash outflow of RMB (542,752) in 2023[7]. - The Group achieved a net operating cash inflow of RMB 1,294.8 million during the Reporting Period, representing an increase of 338.6% year-on-year[11]. - The Group's operating cash flow net inflow was RMB 1,294.8 million, a year-on-year increase of 338.6%[13]. - The net increase in cash and cash equivalents for the first half of 2024 was RMB 426,081, compared to RMB 84,888 in the same period last year[120]. - The Group's liquidity remains strong, with primary funding sourced from ordinary business operations[54]. Market and Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product portfolio through new product development and technology advancements[7]. - Future outlook includes strategic initiatives aimed at increasing operational efficiency and market share in the pharmaceutical sector[7]. - The company is exploring potential mergers and acquisitions to bolster its growth strategy and enhance competitive positioning[7]. - The Group actively strengthened its commercial and operational capabilities in the United States and Europe to enhance global market share[11]. - The Group is advancing the commercialization of Fozaprepitant in the U.S. to create new revenue sources[22]. - The Group's investment strategy was adjusted to focus more on core business development, optimizing asset portfolio and rate of return[11]. Research and Development - Continued investment in research and development is prioritized to drive innovation and meet evolving market demands[7]. - Research and development costs for the period were RMB 81,041,000, down 15% from RMB 95,362,000 in the previous year[162]. Shareholder and Corporate Governance - The Board resolved not to declare interim dividends for the six months ended June 30, 2024, consistent with the same period last year, which also had no dividends declared[72]. - The Company has complied with all applicable code provisions in the Corporate Governance Code during the reporting period[90]. - The Company is committed to high standards of corporate governance as per the Corporate Governance Code[90]. Assets and Liabilities - The asset-liability ratio improved to 34.3%, down from 37.6% in the previous year[7]. - The Group's total assets amounted to approximately RMB 18,573.5 million, down from RMB 19,203.4 million as of December 31, 2023[62]. - The Group's total amount of other borrowings increased to RMB 750.0 million as of June 30, 2024, from RMB 556.0 million as of December 31, 2023[71]. - The Group's short-term loans were approximately RMB 2,992.8 million as of June 30, 2024, down from RMB 3,624.6 million as of December 31, 2023[59]. Sales and Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was RMB 2,828,657,000, with segment revenues of RMB 1,453,516,000 from finished dose pharmaceutical products, RMB 747,599,000 from API, RMB 560,378,000 from CDMO, and RMB 67,164,000 from others[133]. - The finished dose pharmaceutical products segment reported a profit of RMB 454,738,000, while the API segment reported RMB 461,857,000, and the CDMO segment reported RMB 174,560,000[133]. - Revenue from external customers in the United States was RMB 580,353,000, representing an increase from RMB 535,379,000 in the previous period[137]. Employee and Operational Metrics - As of June 30, 2024, the Group had 1,928 employees, with total staff costs approximately RMB 282.6 million, down from RMB 360.5 million in the same period last year[72]. - The Group's credit period with customers generally ranges from one to three months, emphasizing the importance of timely collections[195]. Foreign Exchange and Financial Management - Unrealized foreign exchange losses during the Reporting Period amounted to RMB 31.9 million, with the Group planning to use financial market tools to mitigate foreign exchange risks[53]. - The company recognized a foreign exchange loss of RMB 12,134,000 for the six months ended June 30, 2024, compared to a gain of RMB 126,847,000 for the same period in 2023[158].

Financial Performance - For the six months ended June 30, 2024, the company recorded revenue of RMB 2,828,657 thousand, representing a 4.5% increase from RMB 2,706,246 thousand in the same period of 2023[2] - Gross profit for the same period was RMB 999,274 thousand, up 4.2% from RMB 958,958 thousand year-on-year, with a gross margin of 35.3%[2] - The profit attributable to equity holders of the parent company surged to RMB 663,684 thousand, a significant increase of 438.1% compared to RMB 123,349 thousand in the prior year[2] - The company reported a total comprehensive income of RMB 708,332 thousand for the period, compared to RMB 230,198 thousand in the previous year[4] - The basic and diluted earnings per share for the period were RMB 0.45, compared to RMB 0.08 in the same period of 2023[3] - The company achieved a sales revenue of RMB 2,828.7 million, a year-on-year increase of 4.5% compared to RMB 2,706.2 million in the previous year[10] - Gross profit was RMB 999.3 million, up 4.2% from RMB 959.0 million year-on-year, with a gross margin of 35.3%[10] - The net profit attributable to shareholders was RMB 663.7 million, significantly higher than RMB 123.3 million in the previous year[10] Cash Flow and Financial Position - Cash and cash equivalents increased by 24.8% to RMB 2,202,718 thousand from RMB 1,765,645 thousand as of June 30, 2023[2] - The net cash flow from operating activities was RMB 1,294,842 thousand, a turnaround from a cash outflow of RMB 542,752 thousand in the same period last year[2] - Total assets decreased to RMB 18,573,510 thousand from RMB 19,203,417 thousand as of December 31, 2023[6] - Current liabilities decreased to RMB 4,479,909 thousand from RMB 4,986,182 thousand as of December 31, 2023[6] - The company's net assets increased to RMB 12,209,423 thousand from RMB 11,988,377 thousand as of December 31, 2023[6] - Financing costs decreased by RMB 41.7 million to RMB 84.5 million, a reduction of 33.0% year-on-year, primarily due to the repayment of maturing bonds and a decrease in net borrowings[30] - Total assets as of June 30, 2024, were approximately RMB 18,573.5 million, with total liabilities of approximately RMB 6,364.1 million, resulting in a debt-to-asset ratio of about 34.3%[38] Market and Sales Performance - The heparin value chain business generated sales revenue of RMB 2,245.3 million, slightly down from RMB 2,289.5 million in the previous year[11] - The company's formulation sales remained stable at RMB 1,453.5 million, down from RMB 1,547.3 million, with a gross margin of 34.0%[11] - The group signed a distribution agreement with Chengdu Tianqing Pharmaceutical Co., Ltd. for the commercialization of Fosaprepitant in the U.S., leveraging its self-operated sales network[15] - The group's sales revenue in the U.S. market increased significantly, driven by both self-operated and agency sales, with a focus on promoting the sales of enoxaparin sodium and standard heparin products[12] - The non-European and American overseas markets saw significant sales growth, with sales volume doubling during the reporting period, and the group actively expanding into new markets[12] - The group continues to strengthen its market presence in China, achieving double-digit sales growth despite price restrictions from national procurement platforms[12] Research and Development - The company is developing innovative drug candidates for immune-related diseases, currently in the clinical stage[8] - Oregovomab, a candidate drug for advanced ovarian cancer, is undergoing a mid-term analysis in its Phase III clinical trial, with ongoing patient survival follow-up as per the Data Safety Monitoring Board's recommendations[16] - AR-301, a monoclonal antibody for Staphylococcus aureus pneumonia, did not meet primary endpoints in its global Phase III study, but showed potential benefits in patients over 65 and those with MRSA[17] - RVX-208, a selective BET protein inhibitor, completed its Phase III clinical trial, demonstrating a reduction in major adverse cardiovascular events in high-risk patients, and has received breakthrough therapy designation from the FDA[18] - H1710, a self-developed heparinase inhibitor, is currently in preclinical stage and has shown significant antitumor effects in various tumor models compared to standard treatments[19] Operational Efficiency and Cost Management - The company aims to enhance operational efficiency and cash flow management while controlling operating costs to ensure sustainable development[22] - The company will continue to support the long-term development of its CDMO platforms and strengthen customer channels to increase market penetration[21] - Employee costs totaled approximately RMB 282.6 million for the reporting period, down from RMB 360.5 million in the same period last year, reflecting a decrease of about 22%[77] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange rules and has complied with all applicable provisions during the reporting period[78] - The board consists of four executive directors and three independent non-executive directors, ensuring that independent directors account for at least one-third of the board[78] - The audit committee has reviewed the unaudited consolidated interim results for the six months ending June 30, 2024, and confirmed compliance with relevant accounting standards and regulations[80] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[56] - The company is exploring new business opportunities and partnerships in Asia and South America to enhance its overseas market coverage[12] - The company anticipates that the overall API sales prices will remain at the bottom level, but demand is expected to gradually recover over time[21]

Financial Performance - Revenue for 2023 was RMB 5,430,974, a decrease of 24.1% compared to RMB 7,151,039 in 2022[23]. - Profit before tax for 2023 was a loss of RMB 928,334, compared to a profit of RMB 829,851 in 2022[23]. - Basic earnings per share for 2023 was a loss of RMB 0.53, down from a profit of RMB 0.50 in 2022[23]. - Operating income for 2023 was RMB 5,431.0 million, a decrease from RMB 7,151.0 million in 2022, reflecting the impact of the post-epidemic era[29]. - Overall gross profit margin decreased by 14.7 percentage points to 17.3% in 2023, down from 32.0% in 2022[29]. - Loss attributable to shareholders on a consolidated basis was RMB 783.3 million in 2023, compared to a profit of RMB 727.4 million in 2022[29]. - Net operating cash inflow was RMB 398.2 million in 2023, a significant recovery from a net outflow of RMB 756.7 million in 2022[29]. - Gross profit for 2023 decreased by RMB 1,349.3 million to RMB 940.9 million, compared to RMB 2,290.2 million in 2022, with a gross profit margin decline of 14.7 percentage points to 17.3%[79]. - Adjusted gross profit for 2023 was approximately RMB 1,796.3 million, with an adjusted gross profit margin of approximately 33.1%, an increase from 32.5% in 2022[80]. - The loss attributable to equity holders was RMB 783.3 million, while the adjusted profit attributable to equity holders was RMB 387.0 million, down from RMB 841.9 million in 2022[51]. Market and Sales Performance - The Group's enoxaparin finished dose pharmaceutical products maintained stable global sales volumes, holding the second-largest market share in Europe[32]. - In the U.S. market, the Group's enoxaparin products received FDA approval and launched in June 2023, actively increasing market share[32]. - The Group secured first place in China's 8th national volume-based procurement, obtaining contracts from five provinces as primary suppliers[32]. - The Group's marketing strategies in Europe led to steady revenue growth in finished dose pharmaceutical products despite global destocking trends[32]. - The Group expanded its market presence in new regions such as Australia and Ecuador, maintaining a solid second position in international non-European and American markets[32]. - The heparin industrial chain business achieved sales revenue of RMB4,286.3 million, a decrease from RMB5,884.3 million in 2022[54]. - Finished dose pharmaceutical products sales revenue was RMB2,979.0 million, accounting for 54.9% of total revenue, with a gross profit of RMB1,284.6 million, reflecting a 13.4% increase year-on-year[54]. - The heparin API business reported sales revenue of approximately RMB1,307.3 million, down from RMB2,673.8 million in 2022, accounting for 24.1% of total revenue[57]. - The CDMO business generated sales revenue of approximately RMB967.0 million, a decline from RMB1,084.1 million in 2022, with a gross profit margin decreasing to 22.0%[59]. Challenges and Risks - The CDMO business faced challenges with a revenue decline due to the end of key enzyme orders for mRNA COVID-19 vaccines, but recovery efforts in Q4 helped offset losses[33]. - The external environment remains complex and uncertain, with rising interest rates and tightening credit posing challenges to growth[39]. - The Company experienced a fraudulent incident involving approximately EUR 11.74 million, with about EUR 9.74 million (RMB 74.5 million) fraudulently transferred in 2023[44]. - The significant increase in the cost of sales was attributed to the accounting treatment of including impairment losses on inventory in the cost of sales of APIs[79]. - The company faces risks related to market acceptance of its products, which could adversely impact operations and profitability[194]. - The company’s CDMO business is dependent on customer demand for outsourced biologics, and a reduction in spending could materially affect its financial condition[196]. Strategic Initiatives - The Group plans to enhance its heparin business and increase sales volume and market share in various heparin markets while adjusting marketing strategies based on market dynamics[36]. - The Group will focus on improving internal management systems and risk management, collaborating with external experts to optimize internal control management planning in 2024[36]. - The Group aims to leverage its competitive advantages and capitalize on market opportunities to promote long-term sustainable development and maximize shareholder returns[38]. - The Group plans to optimize resource allocation to improve production capacity and meet future business needs more flexibly[74]. - Hepalink aims to explore new business growth points by collaborating with multinational pharmaceutical companies in Europe and the United States[52]. - The Group plans to actively expand the market size and diversify sales distribution in the API business to achieve market share expansion and solidify its leadership position in the API industry[73]. - Hepalink will increase efforts on market expansion of enoxaparin API and promote sales of high-tech, high-quality, and high-value-added enoxaparin API products for steady revenue growth[73]. Governance and Management - The Group has a strong management team with extensive experience across various pharmaceutical sectors, enhancing its strategic capabilities[97]. - The focus on human resources management is crucial for supporting the Group's operational needs and growth[97]. - The Group's strategic committee includes key members who participate in formulating and implementing business strategies[97]. - The Company is committed to maintaining a comprehensive risk management framework to strengthen internal monitoring and risk management capabilities[74]. - The Group has established a framework to safeguard shareholder interests and enhance corporate value through good governance practices[200]. Shareholder Information - The Group's distributable reserves as of December 31, 2023, were RMB 913 million[118]. - The Board has resolved not to declare a final dividend for the year ended December 31, 2023, compared to RMB 1.0 per ten ordinary shares in 2022[111][113]. - The total beneficial ownership of shares by substantial shareholders indicates a concentration of ownership, with the top three shareholders holding over 100 million shares each[170]. - The report highlights compliance with the Securities and Futures Ordinance regarding the disclosure of interests and short positions in shares[168]. - The company has a significant shareholding structure, with major shareholders including Leren Technology and Jintiantu, which together control over 70% of the shares[170]. Future Outlook - The Chairman expressed a cautiously optimistic outlook for business recovery and financial turnaround, emphasizing the importance of cost control for robust financial performance[37]. - The Company is optimistic about future prospects and will continue to implement its existing strategy while observing market trends[74]. - The Group plans to fully utilize the remaining Net Proceeds on or before November 30, 2025[122].

Financial Performance - The company's operating revenue for Q1 2024 was RMB 1,373,251,921.93, representing a 5.55% increase compared to RMB 1,301,021,684.04 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2024 was RMB 155,040,262.39, a significant increase of 133.00% from RMB 66,540,023.25 in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 157,052,354.18, reflecting a 253.00% increase from RMB 44,491,211.83 year-on-year[3]. - Basic and diluted earnings per share for Q1 2024 were both RMB 0.1057, up 133.33% from RMB 0.0453 in the previous year[3]. - Operating profit for the reporting period reached RMB 196.85 million, a 167.28% increase compared to the same period last year, primarily due to increased gross profit and reduced expenses[9]. - The total profit for the current period is RMB 181,205,852.66, a significant increase of 133.3% compared to RMB 77,557,847.95 in the previous period[24]. - Net profit attributable to the parent company is RMB 155,040,262.39, up from RMB 66,540,023.25, representing a growth of 132.7%[24]. - The operating profit for the current period is RMB 196,847,737.66, compared to RMB 73,649,081.61 in the previous period, indicating an increase of 167.1%[24]. - The total comprehensive income for the current period is RMB 150,135,056.48, which is an increase of 142.3% from RMB 61,856,551.06 in the previous period[26]. Cash Flow - The net cash flow from operating activities reached RMB 880,453,882.15, a remarkable turnaround from a negative cash flow of RMB -213,979,198.80 in the same period last year, marking a 511.47% improvement[3]. - Cash inflow from operating activities is RMB 1,664,646,503.27, down from RMB 1,936,382,607.31, a decrease of 14%[27]. - Cash outflow from operating activities totals RMB 784,192,621.12, a decrease from RMB 2,150,361,806.11, indicating a reduction of 63.5%[28]. - Net cash flow from operating activities is RMB 880,453,882.15, a significant recovery from a negative cash flow of RMB -213,979,198.80 in the previous period[28]. - Cash inflow from investment activities is RMB 441,112,963.21, down from RMB 1,206,613,179.47, a decrease of 63.4%[28]. - Net cash flow from investment activities is RMB 130,688,287.99, a decrease of 83.6% compared to RMB 795,650,734.04 in the previous period[28]. - Cash inflow from financing activities totaled approximately ¥835.83 million, down from ¥1,604.26 million in the previous period, representing a decrease of about 47.9%[29]. - Cash outflow from financing activities amounted to approximately ¥1,506.67 million, compared to ¥1,723.83 million last period, indicating a decrease of about 12.6%[29]. - Net cash flow from financing activities was negative at approximately -¥670.83 million, worsening from -¥119.57 million in the previous period[29]. - The net increase in cash and cash equivalents for the period was approximately ¥342.74 million, down from ¥433.44 million in the previous period[29]. - The ending balance of cash and cash equivalents reached approximately ¥2,108.38 million, an increase from ¥1,753.15 million in the previous period[29]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 18,874,970,670.54, a decrease of 1.71% from RMB 19,203,415,131.24 at the end of the previous year[3]. - Total liabilities decreased to RMB 6,736,457,897.24 from RMB 7,215,037,414.42, reflecting a reduction of about 6.6%[21]. - The company's total equity increased to RMB 12,138,512,773.30 from RMB 11,988,377,716.82, reflecting a growth of approximately 1.3%[22]. - Cash and cash equivalents at the end of the period were RMB 2,225,125,933.99, compared to RMB 1,851,642,224.58 at the beginning of the period, showing an increase of about 20.2%[18]. - Inventory decreased to RMB 6,341,627,515.17 from RMB 6,654,110,787.81, indicating a decline of approximately 4.7%[18]. - Long-term equity investments decreased to RMB 943,735,674.53 from RMB 1,004,045,899.43, a decrease of about 6.0%[19]. - Total operating costs decreased to RMB 1,184,463,117.86 from RMB 1,239,337,824.93, indicating a reduction of about 4.4%[23]. Research and Development - Research and development expenses for Q1 2024 were RMB 35,294,968.25, an increase of 33.11% compared to RMB 26,514,765.57 in the same period last year[8]. - Research and development expenses increased to RMB 35,294,968.25, up from RMB 26,514,765.57, representing a growth of approximately 33.2%[23]. Market Strategy - The company plans to accelerate its sales strategy in New Zealand and Thailand following the approval of its heparin sodium injection in these markets[11]. - The company is focusing on expanding its market share in the heparin sodium formulation business, ranking second in sales in Europe during the reporting period[12]. - The CDMO business has shown significant revenue growth compared to the previous year, driven by the integration of resources and expansion of customer base[13]. - The company aims to enhance its development momentum and fully leverage its competitive advantages to achieve breakthrough growth in 2024[14]. - The focus will be on expanding sales in key overseas markets, particularly in Europe and the United States, while also targeting new non-European and non-American markets[14]. - In the heparin industry chain, the company will continue to prioritize centralized procurement in the Chinese market to drive sales growth[14]. - The company plans to implement a dual-driven platform strategy in its CDMO segment to maximize project value for clients and improve the success rate of ongoing projects[14]. Shareholder Information - The company reported a total of 28,328 common shareholders at the end of the reporting period, with the top two shareholders holding 60.12% of the shares[15]. - Shenzhen Le Ren Technology Co., Ltd. holds 32.31% of the shares, while Xiamen Jintian Soil Investment Partnership holds 27.81%[15]. Financial Incidents - The company experienced a telecom fraud incident involving approximately €11.7 million, with an impact of RMB 15.56 million on pre-tax profit and net profit for 2024[17]. - The actual controller of the company provided an advance payment of RMB 89.81 million to safeguard the interests of the company and its investors[17]. Financial Management - The company is actively managing its financial structure and cost control to balance financial risks and reduce capital costs[11]. - The company will continue to adopt prudent financial and liquidity management to enhance management efficiency and risk control[14]. - The company is committed to maximizing asset value and improving profitability through resource integration and strategic investments[14].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 5,431.0 million, a decrease of 24.1% compared to RMB 7,151.0 million in 2022[2] - The company's loss attributable to equity holders for 2023 was RMB 783.3 million, compared to a profit of RMB 727.4 million in 2022[2] - The company reported a net loss of RMB 802.2 million for the year, compared to a profit of RMB 715.0 million in 2022[4] - The adjusted profit attributable to equity holders, excluding investment losses and inventory impairment, was RMB 387.0 million, down from RMB 841.9 million in 2022[10] - The total revenue for the year 2023 decreased by 24.1% to RMB 5,430.97 million, compared to RMB 7,151.04 million in 2022[23] - The company reported a pre-tax loss of RMB 928,334,000 for the year, influenced by various expenses including financing costs of RMB 228,087,000[50] Revenue Breakdown - The sales revenue from the formulation business was RMB 2,979.0 million, a decline from RMB 3,210.5 million in 2022[2] - The sales revenue from the API business was RMB 1,307.3 million, down from RMB 2,673.8 million in 2022[2] - The CDMO business generated sales revenue of RMB 967.0 million, compared to RMB 1,084.1 million in 2022[2] - The heparin industry chain business generated sales revenue of RMB 4,286.3 million, compared to RMB 5,884.3 million in 2022[12] - The formulation sales maintained stability with revenue of RMB 2,979.0 million, accounting for 54.9% of total revenue, and a gross profit margin increase to 43.1% from 35.3% in 2022[12] - Revenue from the pharmaceutical segment was RMB 2,979,030,000, while API segment revenue was RMB 1,307,343,000, and CDMO services generated RMB 966,952,000[57] Asset and Liability Management - Total non-current assets as of December 31, 2023, amounted to RMB 8,599.1 million, an increase from RMB 8,343.7 million in 2022[6] - Total current assets decreased to RMB 10,604.3 million from RMB 12,472.3 million in 2022[6] - Total current liabilities were RMB 4,986.2 million, down from RMB 5,575.8 million in 2022[6] - The company's net asset value stood at RMB 11,988,377 thousand, a reduction from RMB 12,409,465 thousand in 2022, reflecting a decline of approximately 3.4%[7] - Total assets were approximately RMB 19,203.4 million, with total liabilities of approximately 7,215.0 million, resulting in a debt-to-asset ratio of about 37.6%[36] Market Conditions and Challenges - In 2023, the global heparin market faced significant challenges, with the average export price of heparin dropping to USD 4,805 per kg by October, down from USD 11,779 per kg in July, marking a decline of about 59%[9] - The overall economic environment in 2023 was characterized by high inflation and tightening monetary policies, with global trade expected to decrease by 5% compared to the previous year[8] - China's GDP growth for 2023 was recorded at 5.2%, with quarterly growth rates of 4.5%, 6.3%, 4.9%, and 5.2% respectively[8] Impairments and Losses - The company recorded an inventory impairment provision of RMB 855.4 million due to the significant drop in heparin prices and demand fluctuations[9] - The company recognized goodwill impairment loss of RMB 68.2 million, primarily due to difficulties in the CDMO asset group and a decrease in innovative drug orders[29] - Impairment loss on property, plant, and equipment, and other intangible assets amounted to RMB 44.5 million, related to the AR-301 injection development project[30] - The total impairment loss recognized in the income statement was RMB 61,067,000, with the highest losses in the API segment[53] Strategic Initiatives and Future Plans - The company aims to expand its heparin product sales scale as a primary task for 2024, focusing on enhancing market share and operational efficiency[22] - The company plans to optimize resource allocation in its CDMO business to meet diverse customer project needs and enhance production capacity[21] - The company is actively expanding its international market presence and enhancing its sales network in the U.S. and Europe to seek new growth opportunities[10] - The company plans to continue exploring collaboration opportunities and accelerate the strategic layout of innovative drugs through partnerships[10] - The company will strengthen its market presence in the U.S. by collaborating with strategic partners and leveraging its own sales team[21] Clinical Trials and Product Development - Oregovomab's Phase III clinical trial did not meet its primary endpoint, but data suggests potential benefits for patients over 65 and those with MRSA, prompting further exploration of a second Phase III study[16] - AR-301's global Phase III study did not achieve its primary endpoint, yet showed promising trends in older patients and those with antibiotic-resistant infections, leading to discussions with FDA and EMA for a new study design[17] - RVX-208 has completed Phase III trials and received breakthrough therapy designation from the FDA, aiming to reduce major adverse cardiovascular events in high-risk patients[18] - H1710, an acetyl heparinase inhibitor, is in preclinical stages and has shown significant anti-tumor effects in various models, with IND applications planned for China and the US[19] Governance and Compliance - The board of directors includes four executive directors and three independent non-executive directors, ensuring that independent opinions are represented[79] - The audit committee has reviewed the consolidated annual performance for the year ending December 31, 2023, and confirmed compliance with relevant accounting standards and regulations[84] - Ernst & Young confirmed that the financial figures in the preliminary announcement align with the consolidated financial statements for the year ending December 31, 2023[85]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致之任何損失承擔任何責任。 SHENZHEN HEPALINK PHARMACEUTICAL GROUP CO., LTD. （深圳市海普瑞藥業集團股份有限公司） （於中華人民共和國註冊成立的股份有限公司） （股份代號：9989） 2023年第三季度報告 本公司及董事會全體成員保證信息披露的內容真實、準確、完整，沒有虛假記 載、誤導性陳述或重大遺漏。 本公告乃根據證券及期貨條例（香港法例第571章）第XIVA部及香港聯合交易所 有限公司證券上市規則第13.09條及第13.10B條而發表。 以下為深圳市海普瑞藥業集團股份有限公司（「本公司」或「公司」或「海普瑞」，連 同其附屬公司稱為「本集團」或「我們」）截止2023年9月30日止九個月（「報告期」）的 二零二三年第三季度報告，其所載財務報告根據中國企業會計準則編製，並且未 經審計。 承董事會命 深圳市海普瑞藥業集團股份有限公司 李鋰 董事長 中國深圳 2023年10月30日 於本公 ...