Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 18.12 billion, an increase of 26.7% compared to RMB 14.30 billion in 2022[2]. - The net profit for the same period was RMB 1.40 billion, representing a significant increase of 93.6% from RMB 720.97 million in 2022[2]. - The gross profit margin improved to 51.1%, up from 50.3% in the previous year[2]. - The basic earnings per share increased to RMB 25.52, up 68.1% from RMB 15.18 in 2022[2]. - The total comprehensive income for 2023 was RMB 1,393,071, compared to RMB 730,535 in 2022, showing a robust growth in overall financial performance[46]. - The group’s profit for the 12 months ending December 31, 2023, was approximately RMB 1,396,070,000, an increase of 93.6% compared to RMB 720,965,000 in the same period last year[97]. - The net profit margin improved to 7.7%, up 2.7 percentage points from 5.0% in the previous year[97]. - The total revenue for the year 2023 reached RMB 18,121,861, an increase of 26.5% compared to RMB 14,304,242 in 2022[45]. Revenue Breakdown - The revenue breakdown shows that the Chinese medicine formula granules accounted for 50.3% of total revenue, with a year-on-year growth of 18.1%, while traditional Chinese medicine pieces grew by 45.4%[7]. - The revenue from traditional Chinese medicine pieces reached RMB 2.81 billion, reflecting a growth of 45.4% compared to the previous year[2]. - The production and operation of traditional Chinese medicinal materials generated revenue of RMB 1.86 billion, a 45.8% increase year-on-year[2]. - The revenue from TCM formula granules was RMB 9,108,382,000, an 18.1% increase from RMB 7,710,933,000, representing 50.3% of total revenue[39]. - The revenue from TCM patent medicines was RMB 3,994,333,000, a growth of 28.0% from RMB 3,121,636,000, contributing 22.0% to total revenue[41]. - The revenue from TCM health products reached RMB 212,832,000, a significant increase of 58.6% from RMB 134,202,000, accounting for 1.2% of total revenue[43]. Strategic Focus and Development - The company aims to focus on modern traditional Chinese medicine and strategic emerging industries to enhance its innovation chain and supply chain[5]. - The company is committed to achieving the goals set in the 14th Five-Year Plan, focusing on high-quality development in the traditional Chinese medicine sector[5]. - The company plans to continue promoting sustainable development and improving corporate governance to strengthen its competitive edge[4]. - The company is focusing on enhancing its quality control systems and optimizing inventory structures to improve production efficiency in the Chinese medicine formula granules sector[11]. - The company is committed to accelerating the construction of a comprehensive traditional Chinese medicine health product industry system and optimizing its product line[31]. Research and Development - The company invested RMB 686 million in R&D during the reporting period, a 12.06% increase year-on-year, representing 3.78% of total revenue[17]. - The company is focused on research and development of traditional Chinese medicine resources, processing standards, and innovative drugs to strengthen its technological capabilities[32]. - The company has established 12 technical demonstration bases for TCM materials, with 9 completed and passed evaluation[17]. - The company applied for 248 patents during the reporting period, with 185 granted, including 100 invention patents and 82 utility model patents, supporting high-quality development in the traditional Chinese medicine industry[19]. Market and Sales Growth - The company developed over 1,800 medical terminal customers for its traditional Chinese medicine pieces, leading to significant sales growth and achieving a historical high in performance[10]. - The company’s traditional Chinese medicine health products revenue grew by 58.6% year-on-year, contributing to the overall revenue increase[7]. - Sales of 10 TCM products exceeded RMB 100 million, all achieving double-digit growth, with several products seeing sales growth over 50% year-on-year[12]. - The company has established 45 intelligent distribution centers across 13 provinces, enhancing its sales capabilities for traditional Chinese medicine pieces[10]. Corporate Governance and Compliance - The company has adhered to the corporate governance code throughout the year ending December 31, 2023[109]. - The independent auditor has reviewed the preliminary performance announcement, confirming consistency with the group's consolidated financial statements for the year ending December 31, 2023[111]. - The audit committee consists of four independent non-executive directors, with Mr. Xie Rong serving as the chairman, overseeing financial reporting and risk management[112]. Sustainability and ESG - The company has been recognized in the top 100 ESG listed companies in China, highlighting its commitment to sustainable development[8]. - The company organized safety production training activities with over 30,000 participants, achieving zero major safety incidents throughout the year[23]. - Nearly 300 quality improvement and efficiency enhancement projects were initiated during the reporting period, generating economic benefits exceeding 100 million yuan[25]. Future Outlook - The company plans to enhance its strategic layout and expand its traditional Chinese medicine services, contributing to future growth[44]. - The company aims to promote the internationalization of traditional Chinese medicine standards and enhance overseas certification efforts[32]. - The company is expanding its TCM health service network in major cities, including projects in Shenzhen and Shanghai[16].
中国中药(00570) - 2023 - 年度业绩