方达控股(01521) - 2024 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2024, was $128,475 thousand, a slight increase from$128,356 thousand in the same period of 2023[7]. - Gross profit decreased to $34,842 thousand, down from$38,988 thousand year-over-year, resulting in a gross margin of 27.1% compared to 30.4% in 2023[7]. - The company reported a net loss of $300 thousand for the first half of 2024, contrasting with a profit of$4,558 thousand in the same period last year[7]. - Adjusted net profit for the period was $6,147 thousand, down from$10,223 thousand in 2023, reflecting an adjusted net profit margin of 4.8% compared to 8.0%[7]. - Total comprehensive loss for the period was $2,973 thousand, compared to a comprehensive income of$1,219 thousand in 2023, marking a shift from profit to loss[160]. - The company recorded a net loss of approximately $0.3 million for the six months ended June 30, 2024, compared to a net profit of approximately$4.6 million for the same period in 2023[56]. - Adjusted net profit decreased by 40.2% from approximately $10.2 million to approximately$6.1 million, with an adjusted net profit margin of 4.8% compared to 8.0% in the previous year[61]. - Basic and diluted loss per share was $0.0001 for the six months ended June 30, 2024, compared to earnings of$0.0023 and $0.0022 for the same period in 2023[64]. Assets and Liabilities - Total assets as of June 30, 2024, were$569,024 thousand, a slight decrease from $571,869 thousand at the end of 2023[7]. - Total equity decreased to$337,397 thousand from $345,147 thousand at the end of 2023, while total liabilities increased to$231,627 thousand from $226,722 thousand[7]. - Cash and cash equivalents were reported at$42,998 thousand, down from $53,186 thousand at the end of 2023[7]. - Non-current assets as of June 30, 2024, amounted to$421,799 thousand, a decrease from $430,305 thousand as of December 31, 2023, representing a decline of 2.4$147,225 thousand as of June 30, 2024, compared to $141,564 thousand at the end of 2023, showing a growth of 4.7$115,348 thousand as of June 30, 2024, down from $99,580 thousand at the end of 2023, indicating a reduction of 15.9$337,397 thousand, a decrease from $345,147 thousand as of December 31, 2023, reflecting a decline of 2.3$100.0 million to approximately $99.4 million during the same period, primarily due to a decline in drug development and discovery services[40]. - Revenue from China increased by 4.4$28.4 million) to approximately RMB 206.5 million (approximately $29.1 million) due to marketing efforts and improved project execution[40]. - Laboratory testing services generated$66.3 million in revenue for 2024, up from $58.5 million in 2023, reflecting a significant increase[41]. - Drug development revenue decreased to$42,797 thousand from $47,097 thousand, a decline of 9.2$15,820 thousand, down from $18,524 thousand, indicating a decrease of 14.6$3,603 thousand, a decrease from $4,242 thousand, reflecting a decline of 15.1$89.4 million to approximately $93.6 million, mainly due to additional costs from Nucro and Frontage Europe[45]. - Sales and marketing expenses increased by 17.5$4.0 million to approximately $4.7 million, attributed to enhanced marketing and business development efforts[49]. - Administrative expenses rose by 7.0$22.9 million to approximately $24.5 million, primarily due to the integration of Nucro and Frontage Europe into the consolidated financial statements[52]. - Research and development expenses decreased by 9.7$3.1 million to approximately $2.8 million, due to cost reduction measures[53]. - Financial costs increased by 38.7$3.1 million to approximately $4.3 million, driven by increased borrowing for expansion and operations[54]. Shareholder Information - The board has decided not to declare an interim dividend for the six months ended June 30, 2024[7]. - The company repurchased a total of 48,410,000 shares at a total cost of approximately HKD 85,849,860 during the six months ending June 30, 2024[82]. - Major shareholders include Hong Kong Tiger with 1,032,964,090 shares (50.74$48.19 billion and $82.55 billion in 2023, projected to reach up to$148.76 billion by 2028[16]. - In 2024, the global and Chinese biopharmaceutical industry continues to experience cyclical downturns, with overall growth remaining slow despite signs of increased financing for biopharmaceutical companies[23]. - The company continues to focus on optimizing its cost structure and promoting technological innovation to navigate market challenges[16].