Financial Performance - The company reported revenue of approximately RMB 652.8 million for the six months ended June 30, 2024, representing an increase of about 2.1% compared to RMB 639.5 million for the same period in 2023[10]. - Gross profit for the same period was RMB 515.4 million, also reflecting a 2.1% increase from RMB 504.8 million year-on-year[8]. - Operating profit decreased by 20.8% to RMB 202.0 million, down from RMB 255.2 million in the previous year[8]. - Net profit attributable to the company's owners was approximately RMB 205.6 million, a decrease of 6.6% from RMB 220.2 million in the prior year[10]. - The company's basic and diluted earnings per share were RMB 4.6 cents, down 6.1% from RMB 4.9 cents in the same period last year[8]. - The company reported a net income tax expense of RMB 22,837,000 for the six months ended June 30, 2024, compared to RMB 43,770,000 in 2023, indicating a decrease of approximately 47.8%[113]. - The company reported a total comprehensive income of RMB 220,164,000 for the period, compared to RMB 40,523,000 in the same period last year, reflecting a significant increase[100]. Asset and Liability Management - Non-current assets increased by 5.5% to RMB 2,600.9 million, compared to RMB 2,465.2 million as of December 31, 2023[8]. - Total assets rose by 2.6% to RMB 4,819.6 million, up from RMB 4,696.4 million at the end of 2023[8]. - The total current assets amounted to approximately RMB 2,218.6 million, a slight decrease from RMB 2,231.1 million as of December 31, 2023[29]. - The total current liabilities as of June 30, 2024, were approximately RMB 826.5 million, up from RMB 770.1 million as of December 31, 2023[29]. - The company’s total equity as of June 30, 2024, was RMB 3,256,427,000, up from RMB 3,243,328,000 at the end of June 2023[100]. Sales and Market Performance - The company’s domestic sales decreased by approximately 4.7%, while overseas sales increased by approximately 29.8% year-on-year[10]. - The company’s revenue from mainland China accounted for about 75.1% of total revenue, down from 80.4% in the same period last year[10]. - Revenue from the structural heart disease business was approximately RMB 271.2 million, an increase of about 11.2% from RMB 243.9 million in the same period of 2023[14]. - Revenue from the peripheral vascular business was approximately RMB 380.7 million, reflecting a 5.0% increase from RMB 362.7 million in the same period of 2023[14]. Expenses and Cost Management - Sales and distribution expenses increased by approximately 25.8% from RMB 119.2 million for the six months ended June 30, 2023, to RMB 150.0 million for the six months ended June 30, 2024[19]. - Administrative expenses rose by approximately 21.6% from RMB 59.7 million to RMB 72.6 million during the same period, primarily due to increased employee costs related to share-based payments[20]. - Research and development expenses increased by approximately 26.5% from RMB 110.6 million to RMB 139.9 million, with total R&D costs rising to RMB 204.2 million, a 26.1% increase[21]. Investment and Financing Activities - The company invested $20.0 million in Ally Bridge Group Global Life Science Capital Partners V, L.P., with a fair value of approximately RMB 192.3 million as of June 30, 2024, representing 4.0% of total assets[18]. - The company raised bank loans amounting to RMB 99,000,000 during the reporting period, which was not present in the previous year[100]. - The company incurred a loss of RMB 18,243,000 from fair value changes in mixed funds for the six months ended June 30, 2024, compared to a loss of RMB 296,000 in 2023[111]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange and has complied with all provisions for the six months ending June 30, 2024, except for the deviation regarding the roles of the Chairman and CEO[49]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring at least one independent director has appropriate professional qualifications[50]. - The audit committee, composed of three independent non-executive directors, has reviewed the interim results for the six months ending June 30, 2024, confirming compliance with relevant accounting standards and regulations[52]. Share-Based Payments and Stock Options - The company recognized approximately RMB 40,626,000 in share-based payment expenses for the stock option plans during the six months ended June 30, 2024, compared to RMB 25,524,000 in the same period of 2023[149]. - The total number of shares that may be issued upon the exercise of options granted under the share option plan is capped at 462,929,240 shares, which does not exceed 10% of the issued share capital as of September 17, 2021[62]. - The company has a performance-based vesting schedule for stock options, with varying percentages based on performance targets[72]. Research and Development - The company submitted 80 patent applications and successfully obtained approval for 69 patents during the six months ended June 30, 2024, bringing the total effective patent applications to 2,198, with 1,008 approved[13]. - The company is currently in the clinical follow-up phase for the thoracoabdominal aortic stent graft system, which has completed a one-year clinical follow-up in China[14]. - New product research and development expenses amounted to RMB 64,302,000 for the six months ended June 30, 2024, compared to RMB 51,320,000 in 2023, marking an increase of about 25.3%[118].
先健科技(01302) - 2024 - 中期财报