Financial Performance - Revenue increased by RMB 950.2 million or 13.8% to RMB 7,815.9 million[2] - Gross profit rose by RMB 970.0 million or 17.1% to RMB 6,641.6 million, with a gross margin of 85.0%[2] - Net profit attributable to equity holders decreased by RMB 366.5 million or 19.1% to RMB 1,549.2 million, while adjusted operating profit increased by RMB 293.3 million or 17.7% to RMB 1,952.4 million[2] - EBITDA decreased by RMB 226.0 million or 8.6% to RMB 2,389.1 million, while adjusted operating EBITDA increased by RMB 464.6 million or 20.2% to RMB 2,768.4 million[2] - Total revenue for 2023 reached RMB 7,815,938 thousand, a 13.8% increase from RMB 6,865,735 thousand in 2022[18] - The company reported a net profit of RMB 1,586.3 million for the year, down from RMB 1,908.9 million in the previous year[5] - Basic earnings per share decreased to RMB 0.64 from RMB 0.78 year-on-year[4] - The group reported a net loss from the fair value changes of financial assets amounting to RMB 358,548 thousand in 2023, with no such loss reported in 2022[28] Assets and Liabilities - Total non-current assets increased to RMB 14,432.3 million from RMB 12,258.4 million year-on-year[7] - Current assets increased to RMB 9,750.5 million from RMB 7,906.6 million year-on-year[7] - Total liabilities increased to RMB 3,727.6 million from RMB 1,843.9 million year-on-year[7] - Non-current liabilities decreased from RMB 4,801,470 thousand in 2022 to RMB 3,383,818 thousand in 2023, a reduction of approximately 29.5%[8] - The net asset value increased from RMB 15,363,581 thousand in 2022 to RMB 16,513,600 thousand in 2023, representing a growth of about 7.5%[9] - Total equity attributable to owners of the parent rose from RMB 12,925,805 thousand in 2022 to RMB 14,033,771 thousand in 2023, an increase of approximately 8.6%[9] Market and Product Development - The company is focused on expanding its biopharmaceutical product development and marketing efforts in mainland China, aiming to enhance market presence[10] - The company has a strategic focus on research and development of new products and technologies to drive future growth and market expansion[10] - The company is committed to maintaining a strong financial position while exploring potential mergers and acquisitions to enhance its portfolio[10] - The company holds a 65.0% market share in the platelet reduction treatment market in mainland China as of 2023, according to IQVIA[52] - The company has a 42.2% market share in the rhEPO market in mainland China as of 2023[52] - The company’s product Mandi holds a dominant market share of 72.6% in the milo-dex market in mainland China as of 2023[52] - The company’s TNFα inhibitor product Yisai Pu has a market share of 22.7% in the TNFα market in mainland China as of 2023[52] Research and Development - The company is actively developing 29 pipeline products, with 25 of them being innovative drugs in mainland China, including 15 antibodies and 7 small molecule drugs[80] - The research and development team consists of over 600 experienced scientists focused on accelerating clinical development and seeking breakthrough therapies to meet unmet medical needs[79] - The company emphasizes the importance of its comprehensive R&D platform, which includes antibody discovery, molecular cloning, and clinical trial management[77] Financial Management and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency in financial reporting[11] - The company maintains control over its subsidiaries, which are consolidated into the financial statements from the date control is obtained until it ceases[12] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules to enhance shareholder rights and corporate value[122] - The roles of the Chairman and CEO are not separated, with the same individual holding both positions to ensure consistent leadership direction[123] Shareholder Information - The board proposed a final dividend of HKD 0.25 per share for the year ended December 31, 2023, compared to HKD 0.10 in 2022[2] - The proposed final dividend for the year ended December 31, 2022, is HKD 0.10 per share, subject to shareholder approval[34] - The company will suspend the registration of shareholders from June 20, 2024, to June 25, 2024, for the annual general meeting[120] - The company will also suspend the registration of shareholders from July 24, 2024, to July 26, 2024, for the final dividend entitlement[121] Compliance and Audit - Ernst & Young confirmed that the financial data in the preliminary performance announcement aligns with the consolidated financial statements for the reporting period[128] - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the accounting principles and annual performance for the reporting period[127]
三生制药(01530) - 2023 - 年度业绩