Financial Performance - For the fiscal year ending December 31, 2023, the company reported a profit attributable to shareholders of HKD 17.3 million, a decrease of 87% compared to HKD 132 million in 2022[2] - The increase in financial costs amounted to HKD 159.3 million, significantly impacting profitability despite a pre-tax profit growth of HKD 23.1 million[2] - The group's total revenue for the year ended December 31, 2023, was HKD 5,322.7 million, a slight increase from HKD 5,275.6 million in 2022, with a cost of sales of HKD 3,685.5 million[16] - The net profit for the year was HKD 17.25 million, a significant decrease from HKD 131.95 million in the previous year, resulting in a basic earnings per share of HKD 0.18 compared to HKD 1.37 in 2022[16] - Total revenue for 2023 was HKD 5,322,733,000, a slight increase from HKD 5,275,590,000 in 2022, representing a growth of 0.89%[33] - The company reported a pre-tax profit of HKD 68,584 for 2023, down from HKD 204,864 in 2022, indicating a decline of 66.54%[42] - Net profit for 2023 was HKD 17,250, a significant decrease from HKD 131,952 in 2022, reflecting a decline of 87.00%[42] Revenue Contributions - The healthcare product business contributed a profit of HKD 283 million, an increase of 8% from the previous year[6] - The agricultural-related business recorded a profit contribution of HKD 350 million, growing by 4% compared to 2022[8] - Revenue from agricultural-related business decreased to HKD 1,913,356,000 in 2023 from HKD 2,005,001,000 in 2022, a decline of 4.6%[33] - Human health business revenue increased to HKD 3,242,902,000 in 2023, up from HKD 3,097,090,000 in 2022, reflecting a growth of 4.7%[33] - Agricultural business revenue for 2023 was HKD 2,078,664, a decrease of 4.55% from HKD 2,177,681 in 2022[42] - Human health business revenue for 2023 was HKD 3,242,902, an increase of 4.69% from HKD 3,097,090 in 2022[42] Assets and Liabilities - The total assets of the group as of December 31, 2023, were approximately HKD 11,247.4 million, with total liabilities amounting to HKD 5,058.1 million, leading to a net asset value of HKD 4,189.3 million[11] - The group maintained a net debt to total equity ratio of approximately 53.18% as of December 31, 2023[11] - Non-current liabilities increased significantly to HKD 4,957,596 thousand in 2023 from HKD 3,048,837 thousand in 2022, representing a growth of approximately 62.5%[21] - Total equity for the company stood at HKD 4,189,253 thousand in 2023, slightly up from HKD 4,155,450 thousand in 2022, indicating a marginal increase of about 0.8%[22] - The company's total assets net value was reported at HKD 4,189,253 thousand, showing stability compared to the previous year's figure of HKD 4,155,450 thousand[22] - Deferred tax liabilities decreased slightly from HKD 446,251 thousand in 2022 to HKD 436,381 thousand in 2023, indicating a reduction of about 2.0%[21] - The company’s bank borrowings rose to HKD 4,272,947 thousand in 2023 from HKD 2,374,000 thousand in 2022, representing an increase of approximately 79.9%[21] Research and Development - Research and development expenses for the year were approximately HKD 145.9 million, reflecting the company's commitment to innovation[12] - The company is focusing on the development of therapeutic cancer vaccines, with seviprotimut-L in the final research phase for melanoma patients[4] - The company is actively developing Halneuron® for alleviating cancer-related pain, with Phase II B clinical trials ongoing in South Korea and the United States[4] - The company is investing strategically in liquid biopsy diagnostic research to provide non-invasive and cost-effective cancer detection solutions[5] - The company plans to initiate the third phase of clinical trials for Halneuron® at an appropriate time, prioritizing funding based on various research projects[4] Employee and Operational Costs - The total number of full-time employees increased to 1,932 as of December 31, 2023, with total employee costs, including director remuneration, amounting to HKD 1,130.4 million, a 9.2% increase from the previous year[14] - Employee costs for 2023 totaled HKD 1,130.4 million, an increase of 9.1% from HKD 1,035.6 million in 2022[35] - Other expenses in 2023 amounted to HKD 100,878,000 for clinical trials and laboratory costs, a decrease of 5.2% from HKD 106,729,000 in 2022[36] Financial Outlook and Governance - The company is optimistic about future profitability, anticipating benefits from potential interest rate reductions, although increased R&D spending may impact costs[10] - The board of directors did not recommend a final dividend for the year ending December 31, 2023, compared to a dividend of HKD 0.008 per share totaling HKD 76,889,000 in 2022[39] - The company did not engage in any significant purchases, sales, or redemptions of its listed securities during the year[45] - The annual general meeting for 2024 is scheduled for May 23, 2024[50]
长江生命科技(00775) - 2023 - 年度业绩